FIVE PLEDGES FOR INDIA
Tesla’s loss, not India: Ola's Bhavesh Aggarwal reacts to India-Elon Musk deal not moving forward
Ola CEO Bhavesh Aggrawal labeled Tesla's India exit a loss for Elon Musk amid India’s growing EV sector. Rajesh Kumar Singh noted Tesla's silence post-election. Musk canceled his April India visit to meet PM Modi, opting for China.
UltraTech buys 23% stake in India Cements
UltraTech, the Aditya Birla Group cement maker and the country's largest, bought 70.6 million shares of India Cements as a "non-controlling financial investment" at up to Rs 267 a share, the acquirer said in customary filings Thursday morning. UltraTech bought the shares from billionaire investor Radhakishan Damani, his family members and his investment firms Derive Investments and Derive Trading and Resorts.
Thanks a bullion, RBI will take it from here; overseas gold reserves at 6-yr low
The Reserve Bank of India's gold reserves parked overseas have dropped to a six-year low, with 47% of total at the end of March. The RBI started bringing gold to India in March 2022, coinciding with the Russia-Ukraine war. This follows a global trend of central banks becoming cautious after the US government froze Russian foreign currency assets.
Who will be the next Lok Sabha Speaker? Uncertainty looms over key post amid INDIA bloc's demands
The election for the Speaker of the 18th Lok Sabha is expected to take place on June 26, during the special session of Parliament running until July 3, 2024. However, with the BJP falling short of a majority by 32 seats, there's uncertainty about who the NDA alliance’s candidate for the position will be.
Arunachal CM Pema Khandu to launch new industrial policy and reforms to boost investment and development
Arunachal Pradesh Chief Minister Pema Khandu announced the introduction of a new Arunachal Industrial Policy, aligned with the UNNATI Scheme, to attract investments. After being sworn in, Khandu convened a Cabinet meeting to launch Reforms 3.0, focusing on 24 citizen-centric initiatives. Priorities include 100% digitalization of Finance and Planning Departments, strengthening local administration, and forming the Institute for Transforming Arunachal. Plans also include a new educational policy, revamped Dulari Kanya Scheme, enhanced agricultural policies, and the development of Itanagar-Naharlagun. Additionally, new handloom, handicrafts, and tourism policies will be introduced to boost the economy.
Two options for budget: Split session or single parliament sitting? When will govt present the Budget?
There’s a discussion on whether to have a single budget session or to split it into two. The government will take a decision in the next few days, though it may be inclined towards a session divided by a recess — with the motion of thanks in the first part, and the budget presented in the latter.
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India’s climate dilemma will hang over PM Modi’s next five years
Prime Minister Narendra Modi aims to lead India into a 'green era' while grappling with a reliance on coal energy. He faces pressure to meet climate targets, including net zero emissions by 2070 and massive renewable energy goals.
India’s climate dilemma will hang over Modi’s next five years
Modi, who has cast himself as climate champion for much of the past decade, will be under pressure to make faster progress toward existing green targets, including pledges to hit net zero by 2070, install a mammoth 500 gigawatts of non-fossil energy by the end of the decade, and corral a global alliance on solar power that aims to secure $1 trillion in investment.
Lok Sabha elections: What the new govt's road-ahead might look like
Vote counting is scheduled for June 4, and analysts anticipate Prime Minister Narendra Modi securing a third consecutive term.
Green energy will help fight pollution and create jobs in India
India, committed to climate mitigation programme, today stands 4th globally in renewable energy installed capacity, 4th in wind power capacity and 5th in solar power capacity, as per International Renewable Energy Agency - Renewable capacity statistics 2023.
'Modi, Yogi are going to change fate of Purvanchal in next five years': PM Modi
Prime Minister Narendra Modi on Thursday asserted that in the coming five years, Modi and Yogi are going to change the "picture' and "fate' of Purvanchal, adding that he aims to make India a "Viksit Bharat'. PM Modi addressed a rally in Jaunpur. He asserted that it is difficult for the INDIA bloc to win even a single seat in UP.
Social network that needs connecting
India is planning a revamp of its urban transport sector to improve accessibility to work, healthcare, and education. The plan includes integrating metro and bus networks, promoting greening of intracity goods transport through small trucks, and aligning bus and metro routes. The lack of a holistic approach, with nearly half a dozen central ministries working in isolation, has led to discussions on an omnibus transport ministry.
India helping five nations develop early warning systems, says IMD chief
India's efforts are part of the 'Early Warnings for All' initiative announced by the United Nations in 2022 to ensure that everyone is protected from hazardous weather, water or climate events through life-saving early warning systems by the end of 2027.
Torrent's Mehta family pledges Rs 5,000 crore to UNM Foundation
The Mehta family of the Torrent Group has pledged to donate Rs 5,000 crore over five years to the UNM Foundation in honor of founder U N Mehta's birth centenary. Mehta overcame personal challenges to build a successful business, and the foundation will focus on various social causes without discrimination.
What did Odisha serve Bill Gates that shocked him? This ancient staple is the new health craze
Prime Minister Narendra Modi and Microsoft co-founder Bill Gates discussed the promotion of millet consumption as a key agenda. PM Modi emphasised the need for enhancing vegetarian diets, highlighting the detrimental choices present and urging people to transition to millets.
International Women's Day: Five things women should do to make themselves economically independent
On International Women's Day, we celebrate the resilience and achievements of women entrepreneurs. Despite obstacles, they're making strides in diverse sectors, advocating for inclusion. With an improved Female Labour Force Participation Rate, women strive for financial independence. Experts stress education, skill development, employment, financial literacy, and savings. Workplace equality and advocacy for equal pay are crucial.
Elections 2024: Credibility of promises more important than any pledge for future; Modi seen as a doer: Swaminathan Aiyar
Performance, Modi's achievements, and focus on economic growth, infrastructure, connectivity, AI, start-ups, and new businesses are important in elections. The BJP needs to address the issues of unemployment, skills mismatch, and create opportunities for manual work and officer level jobs. Promise on one specific sector or the other is not key because politicians like to assure every single sector.
India needs Rs 30 lakh crore investment by 2030 to meet COP pledges, says IREDA CMD
At COP26 held in 2021, India committed to an ambitious five-part "Panchamrit" pledge. They included reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, to reducing emissions by 1 billion tonnes by 2030. India as a whole also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070.
India to invest $67 billion in energy sector in over next five years: PM Modi
PM Modi, while speaking at the inaugural ceremony of India Energy Week (IEW), highlighted that India's oil demand will double by 2045. "In primary energy mix, we are pushing to increase natural gas to 15 per cent from 6 per cent. For this, in next 5-6 years around $67 billion will be invested," he said.
From populist pledges to fiscal fine-tuning: Decoding the anticipated Budget impact
Finance Minister Nirmala Sitharaman is set to unveil the Interim Budget for the fiscal year 2024-2025. The budget will focus on fiscal consolidation and controlled growth in capital expenditure. The funds allocated in this interim budget will sustain the country until the new government assumes office post-elections. Major policy announcements are generally avoided in interim budgets to prevent financial burdens on the succeeding government.
Simi ban extended for five years under UAPA
The Students Islamic Movement of India (SIMI) in India has been extended a five-year ban under the Unlawful Activities (Prevention) Act (UAPA), 1967, following a plan to disrupt Prime Minister Narendra Modi's visit to Phulwari Sharif in Patna. Ten states have also sought a ban on SIMI for their involvement in unlawful activities. A judicial tribunal will be set up under UAPA to examine the proposed ban.
BITS Pilani alumnus Pratul Shroff pledges Rs 8.3 crore to institute’s endowment fund
BITS Pilani alumnus Pratul Shroff, of the 1971 batch, has pledged $1 million to his alma mater's endowment fund. Shroff, a philanthropist and serial entrepreneur, founded eInfochips and established the KR Shroff Foundation. He has also pledged Rs 4.5 crore for fully funded fellowships and scholarships at BITS Pilani.
Vibrant Gujarat Summit: Big names pledge megabucks
Apart from announcing the $24 billion investment, India's richest man Gautam Adani said his group will also invest about $100 billion to help propel the shift to green energy in the country over the next decade. Reliance Industries chairman and managing director Mukesh Ambani backed India's bid for the 2036 Olympics and said that his group will assist the authorities in developmental projects as part of the effort.
Matthias Berninger on COP28: Prioritizing impact over pledges
The former German politician and member of the Greens says that “a kind of COP related nervousness and energy” around commitments is “sometimes a bit overplayed”. For him action taken on the ground is what counts as progress. “I have to say the progress that I've seen in agriculture, but most important in renewables in India, also on topics like methane and so on, actually quite impressive.”
DK Shivakumar urges tech companies to pledge their CSR funds for rural schools in Karnataka
The State government is trying to implement a new education system. If the quality of education in rural schools is improved, students from the interior of Karnataka will be able to compete at a global stage, he said.
India remembers victims of 26/11 Mumbai attacks, leaders reaffirm pledge to fight terrorism
Maharashtra Governor Ramesh Bais, Chief Minister Eknath Shinde, Deputy CM Devendra Fadnavis along with other leaders and officers paid floral tributes at the martyrs' memorial on the premises of the Police Commissioner Office in south Mumbai. The governor also met the family members of the policemen who lost their lives in the November 2008 attacks.
Breaking the chains of debt: A pledge for financial freedom on Independence Day
For countless individuals, the burden of debt casts a shadow over their ability to lead a life on their own terms. The pursuit of financial independence necessitates understanding the intricacies of the debt cycle.
HSBC pledges India wealth commitment over Michelin star meal
HSBC announced that it is returning to private banking in India, where it had exited eight years ago. HSBC saw invested assets in India triple in 2022, growing its non-resident Indian customers 9% over the same period. The firm announced plans to recruit over two dozen wealth bankers for this fresh effort. HSBC's India private banking operation is aimed at professionals, entrepreneurs, and their families with investable assets of over $2mn. Wealth management business contributes over 1/3 of HSBC's overall pretax profit.
Make in India push: five of our must-read stories
Amid India’s push to woo chipmakers to India, several semiconductor makers are in talks to set up assembly and packaging facilities in the country. Besides semiconductors, the government is also looking to attract investments for electric vehicle (EV) manufacturing.
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