Month: August 2023

Exhibition on Indian democracy and a gala dinner to mark India’s G20 Summit, says I&B Secretary

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The G20 Leaders’ Summit will showcase India’s achievements to the world and efforts would be made to exhibit progress across Indian states to world leaders when they arrive in New Delhi for the G20 Leaders’ Summit on September 8, said Apurva Chandra, Secretary, Ministry of Information and Broadcasting. Chandra spoke exclusively to CNBC-TV18 ahead of the G20 summit next week.

At least ten thousand foreign visitors, including journalists are likely to fly down to New Delhi next week. Chandra said that managing security and hotels for such a large number of visitors were the biggest challenges for the government. “99 percent of the work is done. We are now ready to welcome foreign delegates to New Delhi for the leaders’ summit”, he said.

World leaders and foreign delegates will start arriving in New Delhi from September 8 for the G20 Leaders’ Summit. Chandra explained, that the actual summit will take place on September 9 and 10 and will be divided into three sessions. “On 9th morning, the leaders will first go to Rajghat to lay a wreath on the samadhi of Mahatama Gandhi, a tree sapling would be planted and then the leaders will head to the Bharat Mandapam for the inaugural session”, he said.

The Prime Minister will host a lunch for the 43 delegations and a gala dinner would be organised on the ninth floor of the India Trade Promotion Organisation (ITPO). “This will be a grand affair. I can assure you that millets will be on the menu. Cuisines from different parts of the country will be on the menu and there will be a cultural experience as well,” said Chandra.

The Bharat Mandapam is the special venue that has been constructed for the G20 summit, within the ITPO Complex in Pragati Maidan. “The Ministry of Culture, will organise a special exhibition with the theme – India the Mother of Democracy, this will be near the leaders venue. There will also be a special walkway showcasing culture of all the G20 nations,” said the secretary. The government will be organising a display of the India stack and digital public infrastructure, for foreign leaders to see and experience.

India’s One District One Product program will be on full display during the G20 summit. Products from across the country will be on display at a hall next to the media centre in ITPO and delegates and accredited participants will be able to purchase products as well.

Moreover, spouses of G20 leaders will have their own program. They are likely to be taken to the national gallery of modern art and will be able to experience Indian dances from across the country.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India may introduce ‘One Nation, One Election’ Bill in special session of Parliament — social media reacts

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Centre is likely to introduce the ‘One Nation, One Election’ Bill in the special session of Parliament called from September 18-22, media reports said on Thursday, August 31. Also, the Uniform Civil Code (UCC) and the women’s reservation Bill are among the list of Bills likely to be introduced on the floor of the house.

The reports emerged after Parliamentary Affairs Minister Pralhad Joshi informed on X about a special session between September 18 and 22, that will comprise five sittings. So far, there has been no word on the official agenda of the session.

Special Session of Parliament (13th Session of 17th Lok Sabha and 261st Session of Rajya Sabha) is being called from 18th to 22nd September having 5 sittings. Amid Amrit Kaal looking forward to have fruitful discussions and debate in Parliament.

ಸಂಸತ್ತಿನ ವಿಶೇಷ ಅಧಿವೇಶನವನ್ನು… pic.twitter.com/k5J2PA1wv2

— Pralhad Joshi (@JoshiPralhad) August 31, 2023

The three Bills

‘One Nation, One Election’ refers to the idea of simultaneously holding the general and state elections. The idea has been mooted several times previously.

The UCC proposes a common set of personal laws for all Indian citizens. The sets of laws aim at replacing personal laws based on religions, customs, and traditions with one common law irrespective of religion, caste, gender and sexual orientation. As of today, Goa is the only Indian state to have a semblance of a civil code.

The women’s reservation Bill (108th Amendment) Bill proposes 33 percent reservation for women in the Lok Sabha and state assemblies. The Bill was passed in March 2010 in the Rajya Sabha amid high drama but failed to pass through Lok Sabha amid stiff opposition from parties like RJD and SP.

As per the Constitution, the Union government holds the power to convene a session of Parliament and this decision is taken by the Cabinet Committee on Parliamentary Affairs. This decision is then formalised by the President of India.

Political Reactions

Media reports on the three Bills set the internet on fire. Soon, #OneNationOneElection became the biggest trend on Elon Musk’s X (formerly Twitter) with several politicians and political commentators expressing their views.

One of well-known TV panelist, Tehseen Poonawalla, called this move undemocratic if implemented by the Centre.

If the BJP goes for #OneNationOneElection along with the #LokSabha polls and pssses this bill in the special session of Parliament ..it means the BJP wants to postpone #MadhyaPradesh #Chhattisgarh #Rajasthan #Telangana and #Mizoram elections! This is NOT DEMOCRACY!! https://t.co/IG7a9OQDWQ

— Tehseen Poonawalla Official 🇮🇳 (@tehseenp) August 31, 2023

“#OneNationOneElection will be one of the biggest disaster of the modi govt. CAA, FARMERS BILL agitation was a trailer when compared to the agitation that India will see if this brought in,” said Kamru Choudhury, a member of Indian National Congress.

On the other hand, several pro-government voices supported this move, calling it a historic step if implemented.

“A historic step towards electoral reforms! Modi ji’s government take a major steps leap for ‘One Nation One Election’ Bill in Parliament. This will save not only save up the time, but money, and will also strengthen our democracy too,” said Ashish Sood, SehPrabhari BJP Jammu & Kashmir BJP.

Also Read:Kerala Assembly unanimously passes resolution against UCC

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Ahead of G20 meet | Rahul Gandhi questions Adani ‘clean chit’ from SEBI, demands JPC probe

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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With the G20 summit on the horizon, Congress leader Rahul Gandhi has once again raised the issue of the Adani Group and called for a thorough investigation into the allegations against the conglomerate. He demanded the formation of a Joint Parliamentary Committee (JPC) to look into the matter, citing concerns about transparency and fairness in India’s economic environment.

Just ahead of the meeting of INDIA, the Opposition bloc, in Mumbai, Rahul Gandhi addressed the Adani controversy, highlighting his concerns about the conglomerate’s financial dealings. He was speaking at a press conference in Mumbai. He questioned the investigation conducted by the Securities and Exchange Board of India (SEBI) and referred to foreign media reports that raised doubts about the adequacy of the investigation.

Gandhi stated, “The current flavour is G20 and it is about India’s position in the world. What is very important for a country like India is that there is a level playing field and transparency in our economic environment and businesses that operate here. Today morning, two global financial newspapers have raised a very important question. These are not any random newspapers. These newspapers affect investment in India and the perception of India in the rest of the world…”

Raising specific concerns about the Adani Group, Gandhi mentioned individuals allegedly involved in financial transactions related to the conglomerate. He named Vinod Adani, the brother of Gautam Adani, as the “mastermind” behind these transactions. He also referred to foreign nationals Nasir Ali Shaban Ahli and Chang Chung Ling, questioning their involvement in manipulating the valuation of a major Indian infrastructure company.

Gandhi criticised the outcome of the SEBI investigation, stating, “There was an investigation, evidence was given to SEBI and SEBI gave a clean chit to Gautam Adani… So, it is clear that there is something very wrong here.”

Addressing concerns about potential conflicts of interest, Gandhi highlighted a significant aspect. “What is amazing to me is that the gentleman who has done the investigation is today an employee of Mr Adani. What does that tell you about the nature of the investigation that the gentleman did? It is pretty clear that no investigation took place and the only reason no investigation took place is because the PM didn’t want an investigation to take place.

“Mr. Adani cannot stop an investigation, the PM can…This is an issue that affects India’s reputation, especially because now there is the G20 taking place and India’s and PM’s reputation is on the line…”

In light of these concerns, Rahul Gandhi emphasised the need for clarity and accountability. He called on Prime Minister Narendra Modi to provide a categorical explanation of the situation and allow a comprehensive investigation.

“It is important that the Prime Minister of India, Narendra Modi, clears his name and categorically explains what is going on. At the very least, a JPC should be allowed and a thorough investigation should take place. I don’t understand why the PM is not forcing an investigation? Why is he quiet and people who are responsible are put behind bars? This is raising very serious questions on the PM just before G20 leaders come here…It is important that this issue is made clear before they (G20 leaders) arrive.”

Gandhi also noted the unusual timing of a special session of Parliament, suggesting that it might be due to panic caused by his statements on the Adani matter. He implied that raising issues related to the Adani Group made the PM “uncomfortable and very nervous.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Delhi-based startup wins $36 Million swarm drone deal from Indian Air Force

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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A New Delhi-based startup has won a 3 billion rupee ($36 million) order to make 200 long-range swarm drones as the Indian Air Force tries to add to its capabilities drawing lessons from Russia’s war in Ukraine.

“The unmanned aerial vehicles have a range of about 150 Kilometers (93 miles),” said Dipesh Gupta, managing director of 3-year old Veda Defense System. “The kamikaze swarm drones can be launched in small batches but come together when airborne to attack or defend targets.”

The Indian military, which is heavily dependent on Russia for weapon platforms, is trying to boost local defense production as part of its effort to diversify sources and address gaps in its preparedness highlighted by the war in Ukraine. Unmanned aerial vehicles, especially swarm drones, launched by Ukraine successfully breached Russian defenses and destroyed fuel and ammunition dumps.

The order is part of the Indian Air Force’s “commitment to handhold the domestic drone startup ecosystem,” it said in a post on X, the social media platform formerly known as Twitter. The order for 200 kamikaze drones is the largest by value to a local startup by the Indian Air Force.

The weapon system will be ready for induction in 12 months, Gupta said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India’s core sector output posts 8% growth in July — nearly double of last year

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India’s core sector saw a growth of 8 percent in July, 2023, almost doubling the 4.8 percent recorded in the same period last year

This expansion was primarily propelled by increased production in crucial areas such as coal, crude oil, and natural gas, as revealed in official data released on Thursday (August 31).

Also Read: Indian economy grows 7.8% in April-June quarter

The data also highlighted growth in the production of steel, cement, and electricity for the month of July, underscoring positive developments across multiple segments of the infrastructure sector.

However, the pace of growth witnessed a slight moderation in July compared to the previous month, when it stood at 8.3 percent, according to figures from the Commerce and Industry Ministry.

The output growth of the eight sectors was also lower at 6.4 percent in April-July 2023-24 against 11.5 percent in the year-ago period.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Fitch affirms ONGC ratings at ‘BBB-‘ — Outlook stable

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

200 global funds seek damages from Swiss mining giant Glencore in LSE prospectus scam

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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 Swiss trading and mining company Glencore has been accused of hiding its corrupt activities through misleading statements by some of the world’s biggest portfolio managers, as per the Financial Times. The claimants alleged that they suffered losses due to untrue statements and omissions made by the mining company in its 2011 prospectus for listing on the London Stock Exchange (LSE).

They also alleged that the company made omissions in its 2013 prospectus for its merger with Xstrata.

Nearly 200 funds are seeking compensation for damage caused by the alleged false claims made by the company. Fidelity, Vanguard, Legal & General, HSBC, Abrdn and Invesco are among the funds that are seeking compensation.

The sovereign wealth funds including GIC, Norges Bank, Mubadala, Aabar Holdings, Kuwait Investment Authority, and Oman Investment Authority are also in the list of claimants. The list also includes dozens of pension funds.

Earlier, following an investigation, Glencore admitted to bribery and market manipulation in 2022 in London’s high court, the High Court of Justice. The mining company agreed to pay $1 billion in fines in the US, 280 million pounds in the UK and $40 million in Brazil, after it pleaded guilty to a number of charges as per FT.

Glencore has been looking for big investments, including an attempt to acquire the Canadian miner, Teck Resources for $23 billion. The company has strengthened its ethics and compliance programme recently.

The claimants, who had also bought Glencore shares when it got listed on the London Stock Exchange in 2011, alleged that the prospectuses had a number of false and misleading statements.

These alleged false statements surfaced from the Swiss mining company’s failure to reveal prevalence of bribery, corruption and fraud in the business activities of its key subsidiaries.

The company’s ex-CEO Ivan Glasenberg, CFO Steven Kalmin and former board chair Tony Hayward are among those named as defendants in some of the claims filed.

A number of claims were filed in the London’s high court since October 2022, while in June, the claimants filed a joint ‘particulars of claim,’ that contained a common set of allegations covering six related cases, as per the FT report.

The ‘particulars of claim’ revolve around three instances of alleged unlawful conduct — bribery in copper and cobalt acquisitions in the Democratic Republic of Congo, bribery schemes in Glencore’s oil trading business in West Africa, South Sudan, Brazil and Venezuela, and a fuel oil price manipulation scheme in the US. The particulars of claim are nearly 200 pages long.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India witnesses alarming decline in bird population: Here are the major threats

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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A comprehensive study spanning three decades has found that a staggering 60 per cent of the 338 bird species under scrutiny in India have faced a significant decline in their numbers. This assessment emerges from the data collected from approximately 30,000 dedicated birdwatchers across the country, and is detailed in the recently released report titled ‘State of India’s Birds’. A total of 942 species were evaluated, and long-term trends were analysed for 338 of them.

The report underscores that within the span of just seven years, 40 per cent (142) of the 359 evaluated species have witnessed a disturbing decline. This decline is especially pronounced among raptors, migratory shorebirds and ducks. Equally alarming is the observation that avian inhabitants of open ecosystems, rivers and coasts, which are vital habitats for numerous species, have been disproportionately impacted.

The causes behind this distressing phenomenon are multifaceted and complex. Urbanisation, rapid infrastructural development, environmental pollutants, and the growing effects of climate change have emerged as the major culprits.

Here are the major threats:

1) One of the biggest reasons for this drastic decline, according to the report, can be attributed to climate change. The Earth’s temperature has risen by more than 1 degree Celsius since the era before industries dominated the landscape.

Because of climate change, birds find themselves grappling with challenges in their reproduction and survival. This arises from disruptions in their natural schedules, as significant yearly events such as breeding, nest-building and migration are no longer synchronised as they once were. The consequences of these mismatches are far-reaching. Birds and their prey, like insects, are falling out of step. This can result in lower chances of survival and reduced breeding success. Additionally, these disparities might lead to intense competition among different species, causing detrimental effects on the overall bird populations.

2) Another big reason is Monoculture, which means growing only one type of seed in a field. The trend of creating big plantations to grow a single crop like rubber, coffee or tea has gained traction in India. The report said that from 2003 to 2020, the size of tea plantations grew from 5,214 square kilometres to 6,366 square kilometres. Apart from that, oil palm plantations are growing in places like Andaman and Nicobar Islands, as well as the north-eastern Himalayas.

These big plantations are detrimental to birds. The report points out that commercial monoculture plantations end up having fewer types of birds compared to natural forests in the same area. The reason? Since there’s only one type of crop, it can’t provide all the different things that birds need to survive and thrive.

3) The areas in India that are most developed and urbanised actually have the fewest types of birds, particularly those that eat insects, as revealed by the report. This is because as cities expand, they take away the natural homes of birds and expose them to more dirty air and high temperatures.

But it’s not just that – cities also have a lot of noise from cars and machines. This means birds have to sing louder or even change the way they communicate. In some really bad cases, the creatures might even have to leave the habitat. On top of that, the bright lights in cities mess with their sense of direction, and sometimes they accidentally crash into buildings.

All these issues add up, and because there’s not enough food in cities for all types of birds, only the ones that are good at dealing with these challenges, like house crows and feral rock pigeons, can survive there.

4) In countries like India, concerns about the climate crisis have led to a rise in the use of wind turbines, which can be found in various types of landscapes. Even though wind turbines are considered environmentally friendly, they have posed a new challenge for birds, as highlighted in the report. A significant number of bird species have died due to collisions with these spinning turbines.

The report also mentions that the power transmission lines associated with these turbines have caused the deaths of numerous larger bird species. Additionally, many smaller birds have been electrocuted. The report provides evidence that more than 60 bird species from 33 different families in India have been negatively impacted by these collisions and electrocutions caused by power lines.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow