Learn the basics of finance and investing and set a strong oundation for your financial future.
The Ministry of Civil Aviation has lifted restrictions on the number of flights between India and Ukraine under the bilateral air bubble agreement to help Indians travel from Ukraine, as stated by a senior official. Amid the current situation due to escalating tensions with Russia, […]
Basics of FinanceThe Supreme Court expressed concern on Friday about the delay in appointing and transferring 21 high court judges, and criticized the government for selectively approving names from the list recommended by the Collegium. A three-judge bench of Justices Sanjay Kishan Kaul, Sudhanshu Dhulia, and Manoj […]
Basics of FinanceHours after a UK-based newspaper reported that there was a threat on American soil, India stated on Wednesday that the US had shared information regarding the connection between organized criminals, gun runners, and terrorists, which New Delhi views as a serious issue. The Ministry of […]
Basics of FinanceThe Lok Sabha witnessed some lighthearted moments on Thursday when Union Home Minister Amit Shah and Leader of the Opposition in the House, senior Congress leader Adhir Ranjan Chowdhury, exchanged remarks about the Centre’s attempt to override a Supreme Court order regarding the control of […]
Basics of FinanceThe Lok Sabha witnessed some lighthearted moments on Thursday when Union Home Minister Amit Shah and Leader of the Opposition in the House, senior Congress leader Adhir Ranjan Chowdhury, exchanged remarks about the Centre’s attempt to override a Supreme Court order regarding the control of bureaucrats in the country’s capital.
Defending the Government of National Capital Territory of (Amendment) Bill, 2023, Shah stated that India’s founding fathers, such as Jawaharlal Nehru, Sardar Vallabhbhai Patel, C Rajagopalachari, Rajendra Prasad, and BR Ambedkar, were against the idea of Delhi becoming a full state.
In response, Chowdhury humorously commented, “When we came to the House today, it felt good that Amit Shah ji was repeatedly praising Nehru and the Congress party. I thought to myself, what am I seeing? Is this day or night? I thought I should run up to him and put a sweet in his mouth. Because praise for Nehru and the Congress from his mouth was a happy surprise for me.”
However, the Home Minister interrupted him, clarifying that he had not praised Nehru. “I have not praised Pandit Nehru. I have simply quoted what he has said. If they want to consider this praise, I have no objection to that.”
Adhir then went on to say, “When you need, you take the help of former PM Jawaharlal Nehru. If you had actually taken the help of Nehru, the country would not have witnessed Manipur and Haryana.” He was referring to the situation at the time.
These comments come at a time when the Centre has been trying to push the Bill through Parliament. The Centre had promulgated the Ordinance on May 19, 2023 — eight days after the Constitution Bench of Supreme Court pronounced its judgment in the Government of NCT of Delhi v. Union of India case, granting more powers to the Delhi government over services in the national capital.
“The ordinance refers to the order of the Supreme Court, which says that the Parliament has the right to make laws on any issue related to the National Capital Territory of Delhi. There are provisions in the Constitution that allow the Centre to make laws for Delhi,” the Union Home Minister said.
He added, “I appeal to parties to not support all the corruption taking place in Delhi just because you are in an alliance. Because despite the alliance, PM Modi will win the election with a full majority.”
The Bill was earlier introduced by Minister of State for Home Affairs in Lok Sabha amid vociferous protests by Opposition members.
“In the year 2015, a party came to power in Delhi whose only motive was to fight, not serve. The problem is not getting the right to transfer postings, but getting control of the vigilance department to hide their corruption like building their bungalows,” Amit Shah said.
Union Home Minister Amit Shah unveiled IFFCO’s liquid nano Di-Ammonia Phosphate (DAP) on Wednesday. During the event, Shah emphasized the significance of the launch, stating that it marks a crucial step towards achieving self-sufficiency in fertilizer production in India. Shah also highlighted the global significance […]
Basics of FinanceUnion Home Minister Amit Shah unveiled IFFCO’s liquid nano Di-Ammonia Phosphate (DAP) on Wednesday. During the event, Shah emphasized the significance of the launch, stating that it marks a crucial step towards achieving self-sufficiency in fertilizer production in India.
Shah also highlighted the global significance of the first Nano DAP (Liquid) launch, emphasizing its potential to propel foodgrain production and bolster India’s fertilizer self-reliance. Manufactured by the cooperative major IFFCO, the Nano DAP was recently included in the Fertilizer Control Order by the Centre, which oversees the sale, pricing, and distribution of fertilizers in the country.
In discussing the cooperative sector’s role in fertilizer production, Shah revealed that out of the total fertilizer production of 384 lakh metric tonnes (LMT) in the country, 132 LMT has been contributed by cooperative societies, with IFFCO alone accounting for 90 LMT.
In addition to the Nano DAP launch, IFFCO also introduced Nano Urea in May 2021, resulting in a significant decrease in urea imports by seven lakh metric tonnes in 2021-22. Shah further outlined the goal to reduce granular DAP usage by 90 lakh metric tons through liquid DAP, with plans to produce eighteen crore liquid DAP bottles in the country.
Addressing the government’s initiatives to strengthen the cooperative sector, Shah highlighted the establishment of a separate Ministry of Cooperation by Prime Minister Narendra Modi. He emphasized the need to strengthen Primary Agricultural Credit Societies (PACS), with plans to create new multi-dimensional PACS in 2 lakh panchayats over the next 5 years. Additionally, Shah noted that model bye-laws of PACS have been sent to the states, with 17 states already adopting these laws. Under the Multidimensional PACS, a single PACS will be created by combining four PACS to provide various services, including fisheries, financial loans to farmers, and dairy.
India was among the countries that took part in the fourth Meeting of the Moscow Format Consultations on Afghanistan, which took place in Moscow on November 16. The meeting was attended by special envoys and senior officials from Russia, China, Pakistan, Iran, Kazakhstan, Kyrgyzstan, Tajikistan, […]
Basics of FinanceIndia was among the countries that took part in the fourth Meeting of the Moscow Format Consultations on Afghanistan, which took place in Moscow on November 16. The meeting was attended by special envoys and senior officials from Russia, China, Pakistan, Iran, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. Discussions during the meeting focused on various issues concerning Afghanistan, such as the current humanitarian situation, ongoing efforts to provide assistance, intra-Afghan talks, the formation of an inclusive government, counterterrorism efforts, and regional security. According to a statement from the Ministry of External Affairs, the Indian delegation, led by the Joint Secretary (Pakistan, Afghanistan, and Iran) from the Ministry of External Affairs, also engaged in discussions with special envoys from the other participating countries during the Moscow Format Meeting.
The government has been emphasizing capital investment in infrastructure, with the finance minister stating that it will attract private investments. However, bankers and business leaders are not seeing an immediate response from India Inc. They are waiting for an increase in demand and capacity utilization […]
Basics of FinanceThe government has been emphasizing capital investment in infrastructure, with the finance minister stating that it will attract private investments. However, bankers and business leaders are not seeing an immediate response from India Inc. They are waiting for an increase in demand and capacity utilization before committing to investments.
Large corporations are currently focused on reducing debt and cleaning up their balance sheets. They are not eager to invest until demand and capacity utilization improve. A top banker, speaking anonymously, believes significant private sector investment is still 12-18 months away. While some ancillary demand may increase due to public investments, major private sector capital expenditure will take time.
Industry leaders appreciate the government’s efforts to boost public capital investment, seeing it as the best option for now. They believe this support should continue for the next 1-2 years. The government is urging the private sector to follow suit and play their part in the investment cycle.
The Reserve Bank of India’s data shows fluctuations in manufacturing sector capacity utilization. Industry insiders suggest that capacity utilization must reach a critical level before private investments increase significantly.
Market optimism is currently driven by government initiatives, with investments and borrowing being mostly government-related. Private sector investments may rise once confidence in demand returns.
Following the budget announcements, the markets responded positively, with the Sensex, Nifty, BSE, and NSE indices showing gains. The push for infrastructure investment led to significant increases in metal and capital goods indices at BSE, as well as industrial and banking indices.
India has extended an invitation to Pakistan’s Defence Minister, Khawaja Asif, to attend a Shanghai Cooperation Organisation (SCO) meeting in April, along with defense ministers from other member countries. India currently holds the chair of the eight-nation SCO, and the invitation to Asif follows a […]
Basics of FinanceIndia has extended an invitation to Pakistan’s Defence Minister, Khawaja Asif, to attend a Shanghai Cooperation Organisation (SCO) meeting in April, along with defense ministers from other member countries. India currently holds the chair of the eight-nation SCO, and the invitation to Asif follows a similar invitation to Pakistan’s Foreign Minister for an SCO foreign ministerial conclave in May. China’s Foreign Minister, Qin Gang, has also been invited for the conclave. Pakistan has not yet confirmed attendance for the meetings. The SCO member countries include Russia, the Kyrgyz Republic, Kazakhstan, Tajikistan, and Uzbekistan.
If Asif attends the meeting in person, it will be a rare occurrence of a Pakistan Defence Minister visiting India. The last such meeting happened when Pakistan’s President Zulfiqar Ali Bhutto visited India in 1972 and signed the Simla Agreement with Prime Minister Indira Gandhi. Historian Mandeep Bajwa noted that Pakistan’s Defence Minister usually has little influence in military affairs, which is why they rarely visit India. The last Pakistan Foreign Minister to visit India was Hina Rabbani Khar in 2011. The invitation to the Pakistan Defence Minister was sent through the Indian High Commission in Islamabad.
India plans to invite Pakistan’s Prime Minister, China’s President Xi Jinping, and Russia’s President to the annual SCO summit later this year. The summit will be chaired by India’s Defence Minister and is expected to address issues related to terrorism, regional security, and the situation in Afghanistan. Past visits between Indian and Pakistani officials have occurred, including visits by the Food and Agriculture Minister in 1965 and the Governor General in the 1950s. Field Marshal Sam Manekshaw also visited Pakistan post the 1971 war.
Relations between India and Pakistan have faced challenges, particularly after the Pulwama terror attack in 2019. However, efforts have been made to maintain peace, including a ceasefire announced by both armies in February 2021.
India strongly criticized the Organisation of Islamic Cooperation (OIC) for commenting on internal affairs related to the Hijab row in Karnataka. The OIC Secretariat’s tweets mentioned the ongoing court case and called on the United Nations to investigate alleged human rights violations against Muslims in […]
Basics of FinanceIndia strongly criticized the Organisation of Islamic Cooperation (OIC) for commenting on internal affairs related to the Hijab row in Karnataka. The OIC Secretariat’s tweets mentioned the ongoing court case and called on the United Nations to investigate alleged human rights violations against Muslims in India.
In a firm response, the Ministry of External Affairs stated that the OIC Secretariat’s communal mindset prevents a proper understanding of the situation. India accused the OIC of being influenced by malicious propaganda against India, which has damaged the organization’s reputation.
In Delhi on Thursday evening, I met with Congress president Mallikarjun Kharge and party leaders Rahul Gandhi and KC Venugopal as efforts to form an anti-BJP front ahead of the 2024 Lok Sabha polls gain momentum. After the meeting at Kharge’s residence, I stated that […]
Basics of FinanceIn Delhi on Thursday evening, I met with Congress president Mallikarjun Kharge and party leaders Rahul Gandhi and KC Venugopal as efforts to form an anti-BJP front ahead of the 2024 Lok Sabha polls gain momentum.
After the meeting at Kharge’s residence, I stated that the process of uniting the opposition has begun; this is just the beginning and all parties are committed to working together.
The meeting is noteworthy as it comes shortly after the allegations leveled against the Adani Group by short-selling firm Hindenburg Research. Initially, I expressed my belief that the Adani Group is being “targeted” by unknown entities, but I later took a U-turn, stating that I would not oppose a JPC for the sake of opposition unity.
Additionally, the meeting occurred a day after Bihar Chief Minister met with Kharge and Gandhi at the Congress president’s 10, Rajaji Marg residence. The discussions focused on forming a united front to oppose the .
Kharge also emphasized that opposition parties have agreed to unite and will engage with all parties. He added that all parties should come together to save the country, democracy, and ensure freedom of speech.
On my part, I mentioned that this was just the beginning and that discussions with other parties, such as the TMC, would be held to bring them together.
The Congress Legislature Party meeting in Chhattisgarh to find a successor for Ashok Gehlot as Chief Minister did not take place. However, senior Chhattisgarh Congress leader T S Singh Deo expressed hope for a change in leadership in his state, despite being subordinate to the […]
Basics of FinanceThe Congress Legislature Party meeting in Chhattisgarh to find a successor for Ashok Gehlot as Chief Minister did not take place. However, senior Chhattisgarh Congress leader T S Singh Deo expressed hope for a change in leadership in his state, despite being subordinate to the high command’s decision.
In an interview, Singh Deo expressed his belief in the need for justice to be served.
Similar to the power struggle in Rajasthan, a conflict between Chief Minister Bhupesh Baghel and Deo has been ongoing in Chhattisgarh for years. This conflict intensified in July when Deo stepped down from crucial portfolios, citing reasons such as non-sanctioned funds under the Pradhan Mantri Awas Yojana.
The central issue of the tussle between Baghel and Deo revolves around an informal agreement for rotational chief ministership made in December 2018. The party leadership had considered a leadership change in Chhattisgarh last August, but the status quo remained after a show of strength by Baghel camp MLAs.
Deo discussed the show of strength by Chhattisgarh Congress MLAs in Delhi, the rotational chief ministership formula, and his state of mind in an interview. He was unable to disclose details about the formula publicly, but emphasized his respect for the decision of the high command.
Regarding the disappointment of the leadership change not happening in Chhattisgarh, Deo acknowledged the decision of the high command and expressed his hope for change. He also addressed the show of strength by Baghel camp MLAs in Delhi, noting that the MLAs in Chhattisgarh would always respect the direction of the high command.
The stray cattle issue in Uttar Pradesh has sparked anger and become a major election concern during the last Assembly polls. In response, the central government plans to establish a sanctuary for 5,000 cows in Muzaffarnagar as a pilot project. Once the project is operational, […]
Basics of FinanceThe stray cattle issue in Uttar Pradesh has sparked anger and become a major election concern during the last Assembly polls. In response, the central government plans to establish a sanctuary for 5,000 cows in Muzaffarnagar as a pilot project. Once the project is operational, it will be replicated in all districts of the state. The Uttar Pradesh government has already allotted 52 hectares in Muzaffarnagar district for the sanctuary, and the Union Ministry of Animal Husbandry and Fisheries has sanctioned Rs 63 crore for its construction. The sanctuary, which will be run by the National Dairy Development Board (NDDB), will be equipped with modern facilities for biogas and cow dung-based fertilizers, as well as assisted reproductive technology and incinerators for animal carcasses.
Acknowledging the widespread anger among farmers over the stray cattle problem, Union Minister of State for Animal Husbandry, Fisheries, and Dairying Sanjeev Balyan stated, “We have promised a solution to the stray cattle problem. It’s a serious issue, not just for Uttar Pradesh but for all of north India.” The Bharatiya Kisan Union has also called for an indefinite protest against the government’s alleged failure in handling the stray cattle menace.
To address the funding for the project, the ministry has collaborated with 500 gram panchayats and set up a committee to collect donations. The government is also seeking funds from small agri-related firms and sugarcane factory owners, making it a government-private participation project.
The issue of stray cattle causing distress among farmers has become a significant election concern ahead of the 2022 polls. With reports that the issue was hurting electoral prospects, Prime Minister Modi had promised to introduce a policy to deal with the issue. Chief Minister Adityanath had also promised a solution. However, in the absence of any steps since the BJP returned to power, pressure has been building up, prompting the government to take action.
The cow sanctuary in Muzaffarnagar will also be developed as a “picnic spot” to encourage public participation. Chief Minister Adityanath stated that the government has initiated three schemes to tackle the stray cattle issue, including building cowsheds for stray cattle in every district, providing cattle to farmers, and providing malnourished families with milch cows. These initiatives are currently in operation.
During his visit to the UAE over the weekend, Prime Minister Narendra Modi met with the country’s ambassador to India, Abdulnasser Alshaali, to discuss the key outcomes of the visit. Alshaali, who holds a PhD in Economics from Australia, also addressed topics such as the […]
Basics of FinanceDuring his visit to the UAE over the weekend, Prime Minister Narendra Modi met with the country’s ambassador to India, Abdulnasser Alshaali, to discuss the key outcomes of the visit. Alshaali, who holds a PhD in Economics from Australia, also addressed topics such as the shared concern of terrorism and security cooperation with India, regional geopolitics, including the recently formed I2U2 grouping comprising India, UAE, Israel and the US, and China’s role in the Gulf region and the UAE’s leadership in COP-28.
When asked about the significance of the visit, Alshaali emphasized the importance of maintaining momentum in the relationship between the two countries at the highest level, citing the increased number of visits and the impact of the Comprehensive Economic Partnership Agreement (CEPA) on trade. He highlighted the 15% growth in trade resulting from CEPA and the signing of two economic agreements, emphasizing the significance of these pacts in boosting bilateral trade and strengthening economic ties between the two countries.
Regarding the third MoU signed in the education sector, Alshaali explained that the establishment of IIT-Delhi Abu Dhabi in the UAE will provide additional educational opportunities for students, contributing to the diverse range of programmes offered in the country. He also noted the solid market for employment opportunities in UAE for graduates from such institutions.
In terms of visa policies for Indian travelers to the UAE, Alshaali acknowledged the need for liberalization and increased capacity for flights to accommodate the growing demand for travel between the two countries. He also emphasized the shared concerns of terrorism and religious extremism, as well as the importance of security cooperation between India and the UAE.
Alshaali further discussed the development of the I2U2 platform and the importance of collaboration between the four member countries, emphasizing its economic focus and the potential for synergy between them. He also highlighted the UAE’s expectations from India’s support as the country chairs COP28.
In conclusion, Alshaali emphasized the establishment of a UAE-India CEPA council focused on SMEs, MSMEs, and entrepreneurs as a significant takeaway from the Prime Minister’s visit, highlighting the potential for creating job opportunities and fostering economic growth through this initiative.