Home Blog Page 242

Delhi Government Says No Impact Of CM’s Arrest on Public Policies

0
Delhi
Delhi

On Tuesday, the Delhi government stated that CM Arvind Kejriwal’s arrest by the Enforcement Directorate in an excise policy-linked money laundering case will not in any way affect public services, social welfare schemes, and subsidies.

Secretary of the Planning Department stated, “All public services, social welfare schemes, and subsidies currently given by the Government of National Capital Territory of Delhi shall continue uninterrupted,”

“People should not be misled by any fear-mongering and malicious disinformation in this regard,” Niharika Rai stated, and further added “”rumor mongers, who would try to take advantage of the situation arising from the CM’s arrest.


The statement comes after BPJ raised questions about the legitimacy of an order purportedly issued by Kejriwal from the lockup to address water and sewage issues in the city.
BJP national secretary Manjinder Singh Sira, in his letter to LG VK Saxena, stated that the APP claimed to be a directive by the Delhi CM did not have CM Kejriwal’s signature, indicating that it was completely ‘forged.’

The letter read, “The said purported Office Order shockingly does not even carry the Officer Order Number, date of issue and even the signature of Arvind Kejriwal is not there and hence it is clear that Ms. Atishi has unauthorizedly and illegally mis-used and abused her official capacity…,”

He further added that Kejriwal can’t add issue any order without seeking prior permission from the court by seeking a change in the terms and conditions of the “remand order”, which so far not granted him any such permission.

He added “This order is illegal and unconstitutional; we demand an inquiry as to who is misusing CMO and for what personal gains!”

The AAP supremo on 26th March 2024 issued the order from jail for the health department, Delhi health minister Saurabh Bharadwaj said sharing the details of the order. He said “”Delhi CM is worried about the health care of the state. He is worried that because he is jailed, the people of Delhi should not suffer because of it… The CM has received information that people are facing difficulties in the tests carried out at the Mohalla clinics,”

US Congress Officially Passes USD 1.2 Trillion Funding Bill to Escape Government Shutdown

0
Congress
Congress

The US Congress decided to approve a funding bill Saturday in rare cross-party unity, keeping agencies running through September and avoiding a damaging partial government shutdown.
Senators missed a midnight deadline to pass a $1.2 trillion package to keep the lights on in multiple key government agencies but voted in the early hours to pass a resolution that had already advanced from the House.


Democratic Majority leader Chuck Schumer said, “It wasn’t easy, but tonight our persistence has been worth it,” and he added, “It is good for the American people that we have reached a bipartisan agreement to finish the job,”

A day of high-stakes drama started on Capitol Hill when the House of Representatives decided to pass a $1.2 trillion, six-bill package Friday at lunchtime, representing the largest and most contentious section of federal funding.


With cash reserves running out at midnight for three-quarters of the government, including homeland security and defense, the Senate was pressured into a race against the clock to advance the legislation to President Joe Biden’s Desk.

However, the budget negotiations looked like they were on the verge of breaking down, with both sides pushing to change the legislation to reflect their campaign messaging and priorities ahead of the presidential elections in November when Biden faces former President Donald Trump.
Senators were ready to adjourn with no deal on holding a vote, which would have prompted the White House Office of Management and Budget to begin scaling back operations in key federal agencies on Saturday morning.

However, a deal came together just as the midnight deadline arrived, and the Senate voted to pass the resolution after 2:00 am local time in Washington.

The White House stated after the deal was struck, “OMB has ceased shutdown preparations because there is a high degree of confidence that Congress will imminently pass the relevant appropriations and the president will sign the bill on Saturday.”

ECI Asks IT Ministry to Immediately Stop Viksit Bharat WhatsApp Messages

0
Viksit Bharat
Viksit Bharat

On 21 March 2024, the Election Commission of India directed the Ministry of Electronics and Information Technology to immediately stop the delivery of Viksit Bharat messaging over WhatsApp. The Election Commission also sought a compliance report on the matter immediately.

The Election Commission said, “The Commission has received several complaints that such messages are still being delivered on citizens’ phones,” and further added, “Since the MCC is now in force, you are hereby directed to ensure forthwith that no further delivery of WhatsApp messages takes place during MCC period. A complaince report in this regard may be sent immediately,”

MeitY had earlier informed the Election Commission that although the letters were sent out before MCC came into force, some of them could’ve been possibly delivered to the recipients with a delay due to systematic and network limitations. The Congress and Trinamool Congress raised objections to the message and demanded the Election Commission to act against the “blatant violation” of the Model Code of Conduct.

The WhatsApp message by “Vikshit Bharat Sampark” with Prime Minister Modi’s letter has been received by millions of Indians. The opposition has called out Modi’s Viksit Bharat Sampark letter a violation of the model code of conduct. The WhatsApp messages have sought feedback and suggestions from citizens related to government policies and schemes. The PDF file attached mentions government schemes such as Ayushman Bharat, Matru Vandana Yojana, etc, and looks at suggestions from the citizens over government schemes and initiatives. The WhatsApp messages were also received by non-Indians from UAE, Pakistan, and Britain.

The Congress has called the PDF file attached with the message from PM “political propaganda.”

New Zealand’s GDP Continues To Shrink And Enters Second Recession in Row

0
New Zealand
New Zealand

New Zealand’s economy unexpectedly contracted in the final three months of last year, which led to a recession and initially sent the currency lower as traders boosted bets on interest-rate cuts.
According to government data, Gross Domestic Product (GDP) dropped 0.1% in the fourth quarter after declining 0.3% in the prior three months.

Economists had expected 0.1% growth. GDP has shrunk 0.3% from the year-earlier period, worse than estimates of nil growth. The economy has tipped into a double-dip recession in the face of the Reserve Bank’s aggressive monetary policy tightening as it attempts to bring inflation under control. Weak growth is likely to increase pressure on policymakers to consider a pivot to cuts earlier than they had indicated.

The RBNZ has held the Official Cash Rate at 5.5% since May, and last month hinted it didn’t intend to lower rates until 2025, citing record immigration and stubborn core inflation.
“The downward surprise for GDP tilts the balance in favor of OCR cuts coming sooner than the mid-2025 timeframe,” said Nathaniel Keall, economist at ASB Bank in Auckland. “We continue to expect cuts from the second half of 2024.”

Rate-cut bets rose after the report, with the yield on policy-sensitive two-year bonds down nine basis points to 4.54%, the lowest since 16 January 2024. The New Zealand dollar also fell initially, extending the year’s decline to 4% before paring losses as the US currency dropped.
Pressure on New Zealand to consider easing policy comes as Federal Reserve officials on Thursday kept their outlook for three rate cuts this year, while on Tuesday, the Reserve Bank of Australia decided to drop its tightening bias.

Earlier this month, RBNZ Chief Economist Paul Conway stated that the bank might start cutting sooner than expected if the Fed begins easing later this year, while the International Monetary Fund on Wednesday said that it sees the scope for OCR rate cuts later this year.

The Central Government Has Decided to Bring Rice and Wheat Under Price Stabilization Fund

0
Central
Central

The Central government has decided to approve the inclusion of wheat and rice under the price stabilization fund (PSFF) after it began selling Bharat atta and rice as part of its retail intervention to cut down inflation as prices are ahead of general elections, a government official stated.
The fund is being used to build up India’s buffer stock of key food items and release these in the market when prices rise. So far, only potatoes, onions, and pulses have been under PSI.

The new step will see the central government give a payout to the Food Corporation of India (FCI) for supplying Bharat rice and atta to the central procurement agencies National Agricultural Cooperative Marketing Federation of India Ltd and National Cooperative Consumers’ Federation of India. The FCI is supposed to get a subsidy of Rs 435 for a quintal of wheat and Rs 200 per quintal of rice given to Nafed and NCCF for processing them and selling them under the Bharat brand.

The central government is already selling Bharat rice and atta at a subsidized price of Rs 29 and Rs 27.50 a kg. However, sales of the Bharat brand haven’t picked up.

The official said, “Inclusion of wheat and rice as PSF commodity will enable subsidy payment from the open market sale scheme operations for wheat and rice,” and further added, “Inclusion of rice as one of the commodities for PSF operations was done last September, while wheat has been added recently. The inclusion of wheat means a subsidy of around ₹326 crore, which has been approved by the concerned authorities and will be given to FCI from PSF,”

“FCI may claim the subsidy amount through DFPD (department of food and public distribution) for the quantity of wheat allocated for Bharat atta, and DoCA (department of consumer affairs) will disburse the approved subsidy after examining the reimbursement claim.”

The Price Stabilization Fund was set up in 2014-2015 with a corpus of 500 crores to maintain bugger stocks that would discourage hoarding and speculation in the market. The goal was to protect consumers by releasing commodities at reasonable prices through the calibrated release of the stock from the buffer and incentivizing domestic production through direct purchase.

AAP Leaders Accuse ED of Being Used as a Tool to Stop Delhi CM Arvind Kejriwal

0
AAP
AAP

Delhi minister Atishi on Tuesday accused the ED of becoming a political weapon for the led center and claimed that the agency’s assertion that BRS leader K Kavitha was involved in paying Rs 100 crore to AAP leaders for favors in the now scrapped excise policy, which the Supreme Court dismissed. Addressing a press conference, she alleged that the federal probe’s agency action was aimed at stopping Delhi Chief Minister Arvind Kejriwal from campaigning in the Lok Sabha Polls.

Kavitha, the MLC daughter of former Telangana chief minister K Chandrasekhar Rao, was arrested by the ED last week from her home in Hyderabad, and she’s in federal probe agency custody till March 23rd, 2024. In a statement on the day, ED stated that Kavita, along with others, was conspiring with the top leaders of APP to get favors in the Delhi excise policy formulation and implementation.

The agency said, “In exchange for these favors, she was involved in paying Rs 100 crore to the leaders of AAP,”

Going against the allegations, Atishi stated, “ED is acting like a political party instead of a Central probe agency. It is also a big question as to why the ED is doing this under pressure. The ED has now become a political weapon of the BJP,” she alleged. Atishi also said that the BJP fears only one opposition leader, Kejriwal.”

In another press conference, her cabinet colleague her cabinet colleague Saurabh Bharadwaj echoed similar views and stated that Kejriwal’s questions make the BJP uncomfortable. Referring to an order issued by Justice Sanjeev Khanna of the Supreme Court on October 30th, 2023, Bharadwaj said that the judge clearly said that the allegation of Rs 100 Crore transaction by the ED is somewhat a matter of debate, and no evidence or facts have been given by the federal agency in the court in this regard.

PM Modi Says India Is Committed to Combating Piracy and Terrorism in Indian Ocean Region

0
PM Modi
PM Modi

Following the successful mission of the Indian warship INS Kolkata, which led to the surrender of 35 pirates aboard the pirate ship MV Ruen, PM Narendra Modi on Tuesday stated that India is “committed” to safeguarding the freedom of navigation and combating terrorism and piracy in the Indian Ocean region.

PM Modi responded to a post by President Rumen Radev of Bulgaria Rumen Radev. In a post on X, Radev said “”My sincere gratitude to PM Narendra Modi for the brave action of Indian Navy rescuing the hijacked Bulgarian ship “Ruen” and its crew, including 7 Bulgarian citizens.”
Reposting the post, PM Modi said “Appreciate your message President PresidentOfBg. We are happy that 7 Bulgarian nationals are safe and will be returning home soon. India is committed to protecting freedom of navigation and combating piracy and terrorism in the Indian Ocean region.”

On Saturday, the Indian Air Force’s C-17 aircraft did a precise airborne drop of two boats, accompanied by Indian Navy MARCOS, in the Arabian Sea to help in the ongoing anti-piracy mission called “Operation Sankalp.”
Earlier, responding to Bulgarian Foreign Minister Mariya Gabriel for thanking the Indian Navy for saving seven Bulgarian nationals in an anti-piracy operation in the Arabian Sea. External Affairs Minister S Jaishankar stated that it is what exactly friends are for. In a post on X, the minister said, “That’s what friends are for,”

On X, the Bulgarian Foreign minister stated, “I express my gratitude to the Indian navy for the successful operation to rescue the hijacked vessel Ruen &its crew members, including 7 BG nationals. Thank you for support &great effort. We continue to work together to protect lives of the crew.”


The Indian Navy stated in an official statement that the Indian warship INS Kolkata successfully cornered and coerced all 35 pirates to surrender on Saturday, ensuring the safety of all 17 crew members from the pirate vessel without any injuries. The rescue operation lasted for 40 hours, and INS Kolkata intercepted the under-pirate ship “Ruen,” sailing almost 26000 km from the shores of the Indian Coast, and forced the ship to stop through efforts.

Supreme Court Directs SBI To Reveal All Details on Electoral Bonds to ECI

0
Supreme Court Directs SBI To Reveal All Details on Electoral Bonds to ECI

The Supreme Court’s Constitution bench hearing the electoral bonds case on Monday has directed the State Bank of India (SBI) to reveal the unique alphanumeric code on the bonds to the Election Commission of India (ECI). The bench, which was presided over by Chief Justice of India D Y Chandrachud, also asked the Chairman and Managing Director of SBI to file an affidavit on or before 5 pm on March 21, 2024, stating that the bank has disclosed all details of the bonds to ECI.

The court bench, which also included justices Sanjiv Khanna, BR Gavai, JB PardiWali, and Manoj Misra, also referred to its earlier order on the matter and stated that the operative directions required the SBI to submit details of the electoral bonds purchased since the interim order dated April 12, 2019, to the Election Commission of India.

“Such details, the court has indicated ‘shall include the date of purchase of each electoral bond, the name of the purchaser of the bond and the denomination of the electoral bond purchased’,” stated the bench, referring to a previous order.

It added, “In the second part of the operative direction…SBI was required to submit ‘the details of political parties which have received contributions through electoral bonds’ since the interim order dated April 12, 2019, till date to the ECI,”

“SBI was required to disclose details of each electrical bond encashed by political parties, inclusive of the date of encashment and the denomination of the electoral bond,” the court said, adding, “the above narration and a plain reading of paragraph 219 of the judgment of February 15, 2024 (striking down the electoral bonds scheme) indicates that SBI was required to submit all details both in terms of the purchase and in terms of receipt of contributions.”

Senior Advocate Harish Salve, appearing for the RBI, stated that there’s no reservation on the part of the bank in revealing all the details that are in its possession and custody.

Recording his statement, the court stated: “In order to fully effectuate the order and to obviate any controversy in the future, we direct that the chairman and managing director of SBI shall file an affidavit on or before 5 pm on Thursday, indicating that SBI has disclosed all details of the electoral bonds which were in its possession and custody and that no details have been withheld from disclosure in terms of the directions contained in paragraph 221 of the judgment.”

‘Deadpool 3’ Seen As Marvel’s Savior After Box Office Slump

0
'Deadpool 3' Seen As Marvel's Savior After Box Office Slump

The upcoming film “Deadpool 3” could provide the jolt needed to revive the struggling Marvel Cinematic Universe (MCU) franchise, said director Matthew Vaughn.

Speaking on a podcast, Vaughn remarked that based on what he’s heard of the much-hyped sequel, the dynamic between Ryan Reynolds’ wisecracking Deadpool and Hugh Jackman’s hot-headed Wolverine is “unbelievable.”

“That’s going to be the spark…that brings the Marvel saga back to life,” stated Vaughn, known for directing 2011’s X-Men: First Class.

His enthusiastic comments follow disappointing ticket sales for recent MCU titles like Ant-Man 3 and The Marvels – the latter being the lowest-grossing entry yet.

Industry watchers trace Marvel’s lackluster box office performance to familiarity breeding contempt among audiences. The outrageously uncensored Deadpool 3, marking the MCU’s first R-rated film, provides a marked change that could reignite interest.

Directed by Shawn Levy and also starring The Crown’s Emma Corrin, Deadpool 3 hits theaters this July 26, 2024.

Seen as the franchise’s potential savior, the film is strategically placed ahead of two new Avengers stories in 2025. It remains to be seen whether the iconic face-off between Reynolds’ Deadpool and Jackman’s Wolverine can pump new life into Marvel’s tired box office formula.

Indian Markets Volatile Ahead Of Budget, Fed Decision

0
Indian Markets Volatile Ahead Of Budget, Fed Decision

Indian stocks traded in a volatile zone on Wednesday as investors turned cautious ahead of two key events – the interim Union Budget on February 1 and the US Federal Reserve’s interest rate decision later in the day.

The S&P BSE Sensex was up 7275 points at 71,415 in late morning deals while the NSE Nifty 50 index rose 81 points to 21,603.

Declines in IT, bank, and capital goods shares offset gains in auto, metal, and oil & gas stocks.

Larsen & Toubro was the top Sensex laggard, plunging over 6% after its quarterly profit missed estimates. Titan, Bharti Airtel, Power Grid, Infosys, and Wipro were the other prominent losers.

Conversely, Tata Motors, M&M, UltraTech Cement, Reliance Industries, Maruti Suzuki, and Tata Steel bucked the weaker market trend to trade higher.

Broader Asian markets were mostly lower as China’s Shanghai Composite index and the Hang Seng index tumbled over 1.5% each amid concerns over policy tightening. Japan’s Nikkei shed 0.5% while South Korea’s Kospi index dropped 0.3%.

Market experts said investor sentiment remains cautious ahead of the interim budget, which will be the last budget of the Modi government before the general elections next year. Global cues are also dicey amid worries of slower economic growth and further US interest rate hikes to contain inflation.

How the markets fare over the next few sessions will depend on the budget announcements and signals from the Fed regarding the rate hike trajectory. Some volatility can be expected till more clarity emerges on these key factors.