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VIJAYAWADA � SATURDAY � JULY 08, 2023 � `9.00 � PAGES 14 � LATE CITY EDITION
02 VIJAYAWADA SATURDAY 08 07 2023
� � THE NEW INDIAN EXPRESS newindianexpress com
VIJAYAWADA � SATURDAY � JULY 08, 2023 � `9.00 � PAGES 14 � LATE CITY EDITION
`380 cr
SC REFUSES TO EXTEND DEADLINE FOR ENTIRE AWARD NOW EXECUTABLE: COURT SC CALLS FOR COMMERCIAL MORALITY
SPICEJET TO PAY MARAN, KAL AIRWAYS In a major setback for the cash-strapped airline, the top court directed it to
pay the entire arbitral award to media baron Kalanidhi Maran and Kal
■ The SC observed that businesses must be done with commercial morality
and added “If orders are not complied with, consequences must follow”
The apex cour rejected the low-cost carrier’s plea Airways. A bench of Chief Justice D Y Chandrachud and Justice P S Narasimha ■ The case pertains to a dispute arising out of the non-issuance of warrants
for more time to execute the `578 cr arbitral did not accept the submissions of senior advocate Mukul Rohatgi, appearing in favour of the airline’s former promoter Maran after the transfer of MONEY OWED BY SPICEJET TO MARAN,
award related to a share-transfer dispute for SpiceJet, and rejected his plea to extend the time to make the payment ownership to Ajay Singh, the controlling shareholder of SpiceJet | P12 THE OWNER OF SUN TV NETWORK
CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOGGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI
four States
a breach of promise made able under Section 171G of the also be considered.
in good faith but IPC (false statement in connec- The judge went on to claim it
subsequently could not tion with an election). was not an “individual-centric
be fulfilled, and a false The judge held that the trial defamation case”, but some-
promise to marry,” the court’s order handing a two- thing which affected a “large RAJESH KUMAR THAKUR
judge ruled year jail term to Rahul for his section of the society”. @ New Delhi
four held for cheating & extortion charges in the four poll-bound
states — Madhya Pradesh, Tel-
angana, Chhattisgarh and
Rajasthan.
Smoke billowing out of the coaches of Faluknuma Express near Bibinagar railway station in Telangana on Friday | EXPRESS
E X P R E S S N E W S S E R V I C E @ Guntur and driving incidents. Apart cases under several IPC sec- breath analyzers and intensify
from this, crowded autos, mini- tions. The Bapatla police has checks. “Stern action will be
IN a tragic incident, an elderly vans, tractors driving beyond been imposing hefty fines on taken against those drunk driv-
man suffered was injured griev- the maximum speed limit has revellers. ing and risking lives of others,”
ously after two youths in ine- led to road accidents several According to the police, over said SP Arif Hafeez.
briated state rammed their car times within the city limits. As 15 drunk and driving cases are Meanwhile, police have in-
into him in Guntur on Friday many as 225 road accidents filed on a daily basis under the tensified inspections to prevent
night. The cops arrested them have been reported in Bapatla limits of all 32 police stations consumption of alcohol in open
and seized their car. In a simi- till May this year. While 90 peo- in Bapatla district. places under the instructions
lar incident, as many as seven ple have lost their lives, while In order to combat the rise in of Guntur range IG G Pala
women died recently as the 253 people got injured. Over road accidents, the police are Raju.
driver was drunk driving and 2,400 have been arrested in 281 also planning to use more As part of it, as many as 4564
lost control of the overcrowded cases under IPC sections
vehicle. against those consuming alco-
In order to combat the rise in road accidents, the police are planning
BOOKWORMS
The negligence of drivers is hol in open places have been
to use more breath analyzers and intensify checks. Stern action will
costing the live of the commut- registered and 4,836 people
be taken against those drunk driving and risking lives of others
ers despite cops taking preven- have been arrested so far in the Siblings seen finishing their homework after returning from school in Vijayawada on Friday I PRASANT MADUGULA
tive measures to curb drunk Arif Hafeez, Bapatla Superintendent of Police district.
ARIES TAURUS GEMINI CANCER LEO VIRGO LIBRA SCORPIO SAGITTARIUS CAPRICORN AQUARIUS PISCES
(Mar 21 - Apr. 20) (Apr. 21 - May 21) (May 22 - June 21) (June 22 - July 23) (July 24 - Aug. 23) (Aug. 24 - Sept. 23) (Sept. 24 - Oct. 23) (Oct. 24 - Nov. 22) (Nov. 23 - Dec. 22) (Dec. 23 - Jan. 20) (Jan. 21 - Feb. 19) (Feb. 20 - Mar 20)
There is a There is still The chance of It is rather There is a You may be A simple There’s a real What on Your Sometimes you The Moon
P E T E R V I DA L sense in which a great deal arguments at convenient that great deal to right not to reading of your chance of an earth have businesslike just have to right up there
your going on home is very your chart be said for trust chart indicates emotional you got to be stars are wait while other in a powerful
08TH July : One last reflection on the Moon. horoscope is looking a that’s related to the small but, for some of you, favours short trips and putting the brakes on. I someone else. It’s not that a businesslike day squall, but it passes so secretive about? gradually dispersing, people catch up. Frankly, it region of your chart is
There used to be a theory that it was formed mite repetitive, which lower recesses of your no less real for that. This is excursions, sometimes don’t think you will be that they are unreliable favours shopping trips quickly and is easy to Perhaps nothing! The reducing your financial now looks as if someone attracting you to higher
means that you may feel chart, which suggests why a diplomatic with a serious purpose but compelled to slow or about to let you and bargains. On the avoid with just a little simple fact is that while concerns. As they move else owes you an apology, things and distant
from a huge lump of the Earth and the hole as if you are still facing that while on the one approach might be down or stop a down, just that the lines deeper level, if you have goodwill. The converse is the Moon is in a deep apart, so other but whether you get it is places. This is nicely
almost invariably with an
it left behind became the Pacific Ocean. I the same old issues. The hand home and family necessary, even when you enjoyable outcome. The particular course of of communication are any doubts about a that it’s a day when you and emotional region, considerations come into another matter. You will appropriate if it’s a day
still hear that said from time to time. More way to boost your relationships are still are apparently sure of your central theme seems to be action, but a brief pause not smooth. You may particular relationship, may sail a smooth you feel the urge to play, like travel or overseas only be prepared to for either overseas
likely is that it was made when huge lumps morale today is to splash vitally important, it is ground. You see, however the need to stay close to for thought might enjoy joint activities bring them into the open course, accomplishing keep certain things to connections, moral issues collaborate with partners travel or a spot of quiet
out extra cash, perhaps your own individual certain you are, there will your home base, and reveal some interesting and shared feelings, but and you may see that much and risking little, yourself, and other and, for some of you, the as an equal when they contempla-tion. You
of space dust or rock were pressed together allowing yourself a little needs which must always be information doing your best by family side-effects of recent don’t feel obliged to there’s nothing to worry just as long as you watch people should respect promise of a new interest have made the necessary can take your pick - and
by that mysterious force, gravity. extravagance. take first place. that hasn’t come your way. members. emotional endeavours. explain yourself! about. out for others’ interests. your right to do so. or course of study. changes to their lifestyles. do your thing.
EXPRESS NEWS SERVICE gal.” Further, he explained that below-normal range. Overall, pated at isolated places across
@ Visakhapatnam despite El Niño conditions not the State can anticipate signifi- NCAP, Yanam, SCAP, and
yet prevailing, the deficiency cant rains in July.” Rayalaseema.
ACCORDING to the India Me- in rainfall within the State can As per the latest predictions On Sunday, strong winds
teorological Department (IMD), also be attributed to pre-El by IMD-Amaravati, citizens can with speed of 30-40 kmph are
Andhra Pradesh received 37 Niño conditions. expect thunderstor ms, likely to persist at isolated plac-
per cent deficit rainfall in June. On the forecast for July, Karu- lightning, heavy rainfall, and es over NCAP, Yanam, SCAP,
However, significant rains are nasagar stated, “There will be strong winds over the next few and Rayalaseema.
likely to pound the State in substantial rainfall in the State days. The weather conditions on
July. this month. We have two sub- On Saturday, thunderstorms July 10 are expected to mirror
Dr Sagili Karunasagar, a sci- divisions in Andhra Pradesh: and lightning are expected at those of the previous day, with
entist at IMD in Amaravati, Rayalaseema and Coastal And- isolated places over North strong winds maintaining
told TNIE, “Before the begin- hra Pradesh. As per the fore- Coastal Andhra Pradesh speed of 30-40 kmph at isolated
ning of the month, we predict- cast, Coastal Andhra Pradesh is (NCAP), Yanam, and South places over NCAP, Yanam,
ed below-normal rainfall activ- expected to experience above- Coastal Andhra Pradesh SCAP, and Rayalaseema.
ity for June. The primary cause normal rainfall, while Rayala- (SCAP). Additionally, strong On July 11, heavy rainfall
of this was the delayed mon- seema is likely to record rain- winds with speeds ranging has been predicted at isolated
soon. Even though it com- fall within the normal and from 30 to 40 kmph are antici- places over NCAP, Yanam, and
menced on June 11, substantial SCAP. The downpour may lead
progress was not observed un- to localised flooding and water-
til June 20. Additionally, the
Ichchapuram records highest rainfall of 66 mm logging in low-lying areas.
deficit in rainfall during June On Friday, Srikakulam district experienced substantial rains with Thunderstorms accompanied
BRIEF RELIEF
has been attributed to a lack of Ichchapuram mandal recording the highest rainfall of 66 mm, followed with lightning are also expect-
adequate wind circulation and by Tekkali mandal (51 mm) and Kotabommali (38 mm). Other districts ed at isolated places across
People seen purchasing tomatoes at subsidised prices at Rythu Bazaar in Tirupati on Friday I MADHAV K the absence of monsoon de- such as YSR, Parvathipuram-Manyam, Kurnool, Konaseema, Chittoor, NCAP, Yanam, SCAP, and
pressions over the Bay of Ben- Annamayya, and Anantapur have also reported rainfall in certain areas Rayalaseema.
Galvanised steel 850 sedative injections seized from medical shop in Visakhapatnam, 5 held
doors for govt EXPRESS NEWS SERVICE
schools: State to
city of Friday. named Harish, who is a dealer godava Prasad (27) , Peddapudi biles from them. It may be not-
@ Visakhapatnam Speaking to reporters, Vizag of a renowned online shopping Ram Prasad (26), Vasupalli ed that over 4,000 injections
city Commissioner of Police app from Gujarat. It was also Bala Appala Swamy (36) and were seized earlier.
call for tenders THE City Task Force officials
along with he Kancharapalem
CM Trivikram Varma said that
it was found that Geddam Kaly-
found that the accused used to
procure one injection for about
Pallivella Santosh Kumar (26)
from the house of Kalyan. The
Pentazocine injection is used
as pain killer at the time of sur-
police busted yet another rack- an Kumar, owner of the medi- 11 and would sell at a premium commissioner said that when gical operations and it can only
EXPRESS NEWS SERVICE et after they seized 850 Pentazo- cal shop, was selling the penta- price of 250,” the top cop elabo- the police raided the shop, it be sold by the hospitals or med-
@ Vijayawada cine Lactate injections, which zocine injections after rated. He further went on to say was found that all the four ac- ical shops, which have the li-
are commonly used as psycho- procuring them online at Bur- that the accused had procured cused were both users as well cense of narcotics. The usage
THE State government under tropic substances, from a medi- ma Colony for the last one 1,000 sedative injections, of as suppliers. The police seized of the drug is administered by
Mana Badi Nadu-Nedu Phase-II cal shop and arrested five peo- month. “He used to purchase CP CM Thrivikrama Varma speaking which, 150 were already sold. 850 ampule (85 boxes each con- a surgeon and the usage should
has decided to call e-procure- ple in connection with it, in the the injections from a person during a media briefing I G SATYANARAYANA The police arrested Chinna- taining 810 ampules) and 6 mo- be recorded in a register.
ment tenders through Andhra
Pradesh Education and Welfare
Infrastructure Development
Corporation (APEWIDC) for APECET-23 counselling schedule
for 2nd-yr engg admissions released
procurement of powder coated
galvanised steel doors (frames
with shutters) and double skin
powder coated GI openable/
casement single rebate win- EXPRESS NEWS SERVICE cation of certificates will begin Classes to
dows with 5 mm thick polycar- @ Vijayawada from July 17 and ends on July commence
bonate window sheet of size 20. The selection of options will from Aug 1
1.50m X 1.35m (three openable APECET admissions convenor be from July 19 to 21. Nagarani
s h utters) to g ove r n m e n t and director of technical edu- also informed that students can Students who
schools. cation Chadalavada Nagarani opt to change their options on got the seats
As a part of this process, the released the APECET-2023 July 22 and the seats will be should report
tender documents are sent to counselling schedule for allotted on July 25. in person at
Judicial Preview Judge Justice admissions into second- The convener also the allotted
B Sivasankar Rao for preview. year engineering here said that as many as 14 colleges from
Managing director of on Friday. According help centres have been July 25 to 30
APEWIDC CN Deevan Reddy to the schedule, the no- set up across the State and the classes
said that to ensure transpar- tification will be re- for the counselling proc- will begin from
ency, to seek suggestions and leased on July 10 and the ess and the details of the August 1. For
advices from the public, the advertisement will be re- help centres will be availa- more
said document are posted/up- leased on July 11. ble on the website. information
loaded in the judicial preview APECET-2023 qualified stu- According to the data, a total students can
website www.judicialpreview. dents will have four days start- of 38,181 students had applied contact on
ap.gov.in. Objections and sug- ing from July 14 to 17, to pay the for ECET this year, while 34,503 7995681678,
gestions can be raised by July processing fee and registration students appeared for the exam 7995865456 &
13 through the website. through APOnline. The verifi- and 31,933 qualified. 9177927677
2 DIE IN Two fishermen were electrocuted after they came in
contact with a live electric wire in Mogalturu of West
MISHAP Godavari district on Friday. Police said deceased were
identified as Venkateswarlu (59) and Nagaraju (56)
CM’s 3-day
Kadapa tour Prakasam politics getting curious
from today Dissidence in majority of Assembly segments may make YSRC’s ‘Mission 175’ difficult
Jagan’s graph declines, TDP ready for polls: Naidu NCSC member lauds State makes a
good progress
EXPRESS NEWS SERVICE
@ Vijayawada APMDC activities
Speaking after inviting 1,000
YSRC activists from Proddatur
Assembly constituency into
the elections are held.
Seeking to know what Jagan
achieved during his recent vis-
Accusing the YSRC govern-
ment of imposing a burden of
`51,000 crore on people by in-
in its grades
ASSERTING that the party is the TDP fold at a programme at it to Delhi, Naidu pointed out creasing the electricity charges E X P R E S S N E W S S E R V I C E @ Vijayawada Continued from Page 3
ready to face the elections any- the party central office in Man- that the Special Category Sta- eight times in the past four
time, TDP supremo N Chan- galagiri on Friday, Naidu tus and other bifurcation prom- years, Naidu promised to re- NATIONAL Commission for Scheduled Castes (NCSC) None of States/UTs achieved
drababu Naidu has promised to launched a blistering at- ises still remain unfulfilled duce the charges soon after the member Anju Bala and Director G Sunil Kumar Babu vis- the top grades: Daksh, Utkarsh,
reduce the prices of essential tack on Chief Minister even after four years of party coming to power. ited the Andhra Pradesh Mineral Development Corporation Atti-Uttam, Uttam or Prachesta
commodities and electricity YS Jagan Mohan Reddy. the YSRC rule. “The YSRC Highlighting the welfare (APMDC) office on Friday, and reviewed the implementa- 1. As many as eight States/UTs
charges if it returns to power Observing that there is leaders will give leaks on schemes incorporated in the tion of the Rule of Reservation (RoR). achieved Prachesta 2 and 3
in the State. “The State will get a sharp decline in Jag- early polls and they only first phase of the TDP mani- Informing that the RoR is being strictly implemented, grades, while a total of 13 States
a big relief if the elections are an’s graph, he predicted condemn the prediction. festo for women, farmers and APMDC Vice-Chairman and Managing Director VG Venka- got Akanshi-1, which is consid-
held at the earliest as it will get that the YSRC govern- The TDP is ready for youth, Naidu alleged that Jag- ta Reddy highlighted the growth achieved ered as grade 8. States and UTs
rid of the YSRC government,” ment will be de- e l e c t i o n s a ny - an betrayed all the sections of by the corporation. that fared better than AP are
he observed. throned whenever time,” he averred. people. Stating that the APMDC is doubling its Chandigarh, Punjab, Gujarat,
revenue every year, besides expanding its Kerala, Maharashtra, Delhi,
APMDC has stood operations at the national level, he said Puducherry and Tamil Nadu.
Lokesh decries YSRC doesn’t need any poll alliance, as a role model the encouragement of the State govern-
for other ment and the reforms rolled out by Chief
AP shared the Akanshi-1
grade with Karnataka, West
attack on
organisations. The Minister YS Jagan Mohan Reddy have re- Bengal, Rajasthan and Madhya
Sharmila registers lands EXPRESS READ stranded passengers received that a a major accident
major accident
to the Secunderabad would take place
would take place in
station. The unaffect- in the SCR. Probe, the SC railway. The
School teacher sexually
on her children’s names
ed coaches were de- nonetheless, will probe, nonetheless,
harasses girl, thrashed tached and moved to look into the letter would look into the
Secunderabad. angle too letter angle too.
Tirupati: A class 7 student was
A helpdesk was set According to some
allegedly sexually harassed by a Railway CPRO
E X P R E S S N E W S S E R V I C E @ Kadapa Anjali Reddy. Later, she visited up at the Secundera- passengers, there were
government school teacher at
Idupulapaya estate. bad Railway Station to about 100 travelling in
YSR Telangana Party president Bangarupeta in Venkatagiri. The
Sharmila, Vijayamma and provide information to the rela- the ill-fated S-4 coach though
YS Sharmila, along with her accused was identified as
their family members will pay tives of the passengers. After its capacity is only 72. En route
mother YS Vijayamma, visited Lakshmi Narayana. The incident
tributes to former Chief Minis- the section was cleared of the Secunderabad, several people
Idupulapaya on Friday. came to light after the parents of
ter YS Rajasekhara Reddy at affected coaches, movement of who had no berth reservations
First, she went to Vempalle the girl allegedly visited the
YSR Ghat on Saturday to mark trains resumed at about 5.55 boarded the train, they said.
sub-registrar office and regis- school and trashed the teacher.
the birth anniversary of the pm. Train No. 17229 (empty Some passengers complained
YSR Telangana Party tered 9.35 acres of land at Idu- Further, the kin of the victim
former chief minister. rake) was the first to move in to the TC in this regard but
president YS Sharmila, pulapaya in the name of her staged a protest in front of the
The YSR Telangana Party the section. there was no response. Vexed
along with her family son Raja Reddy. school demanding action against
president was accorded a warm What made the railway offi- with unreserved passengers
members, arrives Further, she also registered welcome at Idupulapaya estate the teacher. Mandal Education
cials to remain on the edge was crowding their bogey some peo-
in Kadapa on 2.112 acres of plot, which she by her followers. She interacted Officer (MEO) Venkateswarlu
that the mishap occurred days ple, though they had reserved
Friday | EXPRESS visited the school and conducted
acquired from Vengamuni Red- with local people during her after a person from BHEL berths, alighted in Vijayawada,
dy, in the name of her daughter an inquiry into the incident.
visit. wrote to the South Central Rail- station sources said.
GIRL An 18-year-old college girl was stabbed by
a man in public in St Thomas Mount after
KILLED she rejected his overtures. The incident
took place at around 3.30 pm on Friday.
rapidly
search (JIPMER), Pu-
ducherry, for confir-
mation, following a
notice to Srimandir chairman EXPRESS NEWS SERVICE
@ Hyderabad
civic employee identified as
Bala Chander Yadav. After he
the police has launched a hunt
to nab the accused. The CCTV
brain through small
tissues in the nose.
The teenager had tak-
over around
five days
positive initial test,”
said the minister.
She said the disease
Official, Health
E X P R E S S N E W S S E R V I C E @ Cuttack also issued show cause notices was dashed by the speeding car, footages of the locality was en a bath in the ponds Deaprtment is very rare and will
returnable within seven days A GHMC worker suffered inju- he was dragged for some dis- scrutinised and the car was near his house last affect one in 10,000
THE issue of making Shri Jag- to two other alleged contem- ries after a BMW knocked him tance and then came to a halt. traced. Five members were de- week. It may be how people. Veena, in a
annath Temple in Puri accessi- nors - chief administrator of down in Banjara Hills. Five A passerby immediately came tained in connection with the he was infected, said officials. statement, said the health de-
ble for the differently-abled is Shree Jagannath Temple Ad- members who were present in to rescue and took him to a hos- accident. There were two wom- “The teen was admitted to partment is carrying out ade-
back in focus with the Odisha ministration (SJTA) Ranjan the car were detained and are pital, where he is currently un- en and three men in the car, in- Thuravoor Taluk Hospital with quate preventive measures in
High Court issuing show cause Kumar Dash and Puri collector being questioned. dergoing treatment. cluding the driver. It is yet to be a headache and fever last Sat- the area in Alappuzha where
notice to the chairman of Man- Puri Samarth Verma. Justice The incident took place late CCTV footage of the locality ascertained who was driving urday. He had also lost his eye- the disease has been detected.
aging Committee of the shrine, Rath issued the notices on the night on Thursday. A speeding covered the incident and it and if the alleged driver was sight. Later, he was shifted to In the past seven years, five
Gajapati Maharaj Divya Singh second contempt petition filed BMW car coming from the op- went viral on social media in drunk. All the five will be ex- Alappuzha MCH, where the people have been diagnosed
Dev on a contempt petition al- by Jitendra Kumar Biswal, a posite direction collided with no time. amined medically and will be disease was diagnosed,” said with this disease in the state.
leging non-compliance of or- Bhubaneswar-based social the two-wheeler being driven Meanwhile, a case has been ascertained if the accident is the Alappuzha district medical The first case was reported in
der. Justice Biswanath Rath activist by the victim. The victim is a registered with the police and drunk driving. officer (DMO). He was admit- the Thirumala ward in 2016.
EXPRESS READ
PM Modi to lay foundation stone for various
projects in Warangal today
Hanamkonda: Union Minister for Tourism, Cultural Affairs,
and Northeastern States of Developmentand BJP Telangana
State President G Kishan Reddy stated that all set for the
PM’s tour in Warangal. As per Reddy, PM Modi will land in
Mamnoor airport at 10.15 am. He will reach Bhadrakali temple
at 10.30 am and offer special prayers. He will reach the public
meeting venue at 10.50 am. He will lay foundation stones for
various development works. Security has been beefed up at
the Sri Bhadrakali temple and Mamnoor airport.
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Mail i.d seccbbsr@gmail.com
E-procurement Tender Call Notice No.05 of 2023-24
No. 2068 (Estg.) Bhubaneswar the 3rd July-2023
B-448: The Chief Construction Engineer, Central (R&B) Circle Bhubaneswar on behalf of the
Governor of Odisha invites percentage rate bids for one number interior building work to be
received in online bidding, double cover system for construction work as detailed : https://
tendersorissa.gov,in. The details of bid documents will be available in the above website
from 5:00 P.M of 10.07.2023 to 5.00 P.M of 24.07.2023, The bidders must possess com-
patible Digital Signature Certificate of Class II or III. Bids received online shall be opened at
11.00 A.M. of 25.07.2023 in the Office of the Chief Construction Engineer, Central (R&B)
Circle Bhubaneswar.
Further details can be seen from the e-procurement portal www.tendersorissa.gov.in.
Addendum / Corrigendum, if required, will be available only in the Website.
Sd/-Chief Construction Engineer All the news. In just a click. �������������������
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OIPR-34156/11/0005/2324 Central (R&B) Circle, Bhubaneswar Log to www.newindianexpress.com �����������������������
To be persuasive, we must be believable,
To be believable, we must be credible, Edward
To be credible, we must be truthful Murrow
F
oreign media covering Prime The disintegrating international order and fragmenting conventions. They reflect an international
Minister Modi’s recent landmark order in disarray.
INDIAN EXPRESS IS NOT AN visit to the United States fre-
multilateralism pose challenges but also offer opportunities This disarray makes it difficult to define
INDUSTRY. IT IS A MISSION.
FOREIGN POLICY
quently mentioned non-align- and enforce a ‘rules-based’ international
— Ramnath Goenka ment as inhibiting India’s closer system. The concept originates from ar-
engagement with that country. It rangements that developed after the Second
is a misconception widely preva-
lent even in Indian media, academia and IN A WORLD World War, to address global political, eco-
nomic and security challenges. The rules
MAHARASHTRA MATRIX:
BETWEEN ORDERS
political circles. are embodied in a variety of multilateral
Non-alignment was a Cold War effort to institutions, including the United Nations,
N
For quite a few years now, non-alignment ministered by developed countries. With
ationalist Congress Party leader Ajit Pawar’s decision to has not been projected as a tenet of India’s P S RAGHAVAN Distinguished Fellow, Vivekananda International increasing clashes of global and regional
walk out with a group of eight party MLAs in Maharash- foreign policy. Back in 2019, External Af- Foundation, and a former diplomat interests, adherence to the rules has not
tra and join the state government has brought the focus fairs Minister Jaishankar said publicly that been uniform.
back on the Tenth Schedule of the Constitution, and with non-alignment was a concept “for a specific Most countries will claim allegiance to a
it, the need to plug legal loopholes and fine-tune the law era and a particular context”. Departing rules-based order, but the interpretation of
from an almost unbroken decades-old tradi- the rules varies from country to country.
relating to defections. The Tenth Schedule, added to the Consti-
tion of Indian prime ministers attending They abide by rules that suit their interests
tution through the 52nd Amendment in 1985, brought into exist- NAM summits, PM Modi has not attended and ignore or reinterpret those that do not.
ence an anti-defection law. This law was introduced to prevent either of the two summits held during his The “middle powers” believe that they
the subversion of the electoral mandate by stopping legislators time in office. should have a greater say in framing, inter-
from switching sides after getting elected on the ticket of a po- Once freed from the shackles of the Cold preting and administering the rules of a
litical party. The 91st Constitutional Amendment further War, countries were able to diversify their new international order. The latest US Na-
strengthened the law by stipulating that a split will not be legal network of relationships across the erst- tional Security Strategy recognises this as-
while East-West divide. Non-alignment lost piration. It asserts that all nations support-
unless the breakaway group comprises two-thirds of a party’s its relevance, as interests diverged and part- ing universal rights and freedoms should
total number of MLAs or MPs. nerships were recast. have the opportunity to participate in shap-
However, the provisions of this law have failed to stop the In the wake of the diverse responses ing the rules of the international order.
‘Aaya Ram, Gaya Ram’ culture, and legislators have continued across the developing world to the war in As neither the Ukraine war nor the US-
to defect, resulting in governments collapsing like a pack of Ukraine and sanctions on Russia, the idea China tension shows any signs of abating,
cards—the last decade has seen more elected state governments has emerged in the western media of the there is no immediate prospect of develop-
“new non-aligned”—a group of countries ing a universally accepted international
fall than any other in the past. Defections by MLAs, and in some
across continents, political systems and order. At present, as former National Secu-
cases resignations in favour of a party other than the one whose alignments that “have sat on the fence on rity Advisor Shivshankar Menon has said,
ticket they have been elected on, has caused the fall of duly the Ukraine war or wish to remain non- the world is militarily unipolar, the world is
elected governments in some northeastern states, Goa, Karna- aligned in the Sino-American confronta- SOUMYADIP SINHA militarily unipolar and economically large-
taka, Madhya Pradesh, and now, Maharashtra. The Tenth tion, or both”. The Economist analyses the ly bipolar, but politically fragmented.
Schedule and its subsequent amendment have been unable to behaviour of 25 developing countries with ment of people and goods. The technology not import from Russia, and berating India Foreign policy is shaped by the dynamic
the biggest economies, from “giant India” revolution facilitated real-time transfers of for doing so, Europe imports a significant interaction of national security impera-
arrest the trend.
to “tiny Qatar”. Collectively, they are power- ideas, information and money. They ena- proportion of processed Russian crude tives, political considerations, economic
The most glaring loophole in the anti-defection law is the role ful, because they represent 45% of the bled many countries to leapfrog stages of from India to meet its demand for down- capacities and strategic ambitions. An ef-
of the Speaker, who is the final adjudicator of the validity of a world’s population and 18% of global GDP— development and attain levels of political stream products. fective foreign policy has to be sensitive to
party split. The law, however, does not mandate a time limit for more than that of the European Union. stability, economic growth, military A third dimension was the tacit encour- international realities and should seek to
the Speaker to pronounce his or her decision. Being members They favour “minilateralism”—small strength and cultural integration that agement from other Western quarters for shape them, wherever possible. The disin-
of political parties, some Speakers do play a partisan role. In groupings to promote focused interests. fuelled their ambitions for greater regional India to continue energy imports from Rus- tegrating international order and fragment-
cases where a split suits their party, Speakers do not give the These “middle powers” are described as and global influence. The post-Cold War sia to obviate skyrocketing global energy ing multilateralism pose challenges but
“brutally pragmatic” and opportunistic in geopolitical flux provided a conducive envi- prices. Both pragmatism and opportunism also offer opportunities. India’s political,
ruling until the term of the House ends. In the case of the Shiv the pursuit of their desired objectives. ronment for risk-taking. were on display in these dynamics. economic, geographic, demographic and
Sena split in the present Maharashtra Assembly, the Supreme There is validity in the argument that The line between pragmatism and oppor- The growth of “minilateralism” is a re- civilisational attributes have enabled its
Court directed the Speaker to give his ruling “within a reason- much of the developing world believes its tunism is fuzzy. India ignored western sanc- sponse to the general malaise in multilat- foreign policy to ride challenges and grasp
able time”. But the ruling has not been given even after one year. interests are not served by great power con- tions and increased imports of Russian oil eral mechanisms. Vested with the task of opportunities. Specific strategies can be
And now, another party has split. Since there is no constitu- flicts and tensions. But it would be inaccu- at discounted prices, arguing that its first maintaining international peace and secu- analysed in terms of “new non-alignment”
tional provision to force the Speaker to give the ruling within a rate to see the “new non-aligned” as a responsibility was to protect its economic rity, the United Nations Security Council or multi-alignment, and “minilateralism”
grouping with common goals or perspec- growth by securing cheap energy. Criticism has been paralysed by the split among its or strategic autonomy. The pertinent yard-
timeframe, there is little the SC can do. Only a complete over-
tives. Their interests and alignments are poured in from European countries about permanent members. The impact of this stick is the advancement of national goals
haul of the anti-defection law will help bring stability to the disparate. India undermining the sanctions. Yet, even split runs through virtually all multilateral in an uncertain world.
elected governments and respect for the people’s mandate. Globalisation facilitated the free move- while maintaining the pretence that it does institutions, arrangements, treaties and (raghavan.ps@gmail.com)
I
posed bill, which aims to regulate the collection, stor- ndia maintains its position as the sentence was perhaps excessive, Rahul
age, and use of personal data by digital players, is much world’s fastest-growing major was certainly wrong in using intemperate
economy, with a growth rate of language against those with a particular
needed amid the rising number of data breaches. Once the draft 6.1% in the fourth quarter of surname. He should have apologised.
bill is enacted, it will replace the current law, i.e., the Informa- FY 2022–23. Price data published K R Jayaprakash Rao, Mysuru
TULSI Professor, Finance & Economics, and Executive
tion Technology (Reasonable Security Practices and Procedures on June 14, 2023, reveals that the JAYAKUMAR Director, Centre for Family Business &
and Sensitive Personal Data or Information) Rules, 2011. An Consumer Price Index (CPI) in- Entrepreneurship at Bhavan’s SPJIMR TN troubles
overhaul of the existing law is critical to support India’s digital flation has decreased to its lowest level in Ref: Buzz on PM contesting from TN too
economy aspirations with appropriate privacy and personal two years, standing at 4.25% in May 2023. cies, including the Indian rupee. dia’s trade balance, current account, and (July 7). It would be unwise if Modi decides
Additionally, among emerging market Another significant challenge for India is overall macroeconomic stability. This devel- to contest the 2024 polls from TN, as the BJP,
data protection measures in place. Efforts began as early as 2018,
economy currencies, the Indian rupee has the limited potential for export-led growth. opment presents an opportunity for India to despite all the efforts of Annamalai, hardly
and the proposed bill has undergone over four revisions. Still, exhibited the highest stability. While these Factors such as rising geopolitical tensions, reduce its oil spending and allocate resourc- has any significant presence in the state. The
even six years after the Supreme Court first held privacy as a accomplishments demonstrate positive global food insecurity, potential consequenc- es to other developmental and investment support of the faction-ridden AIADMK with
fundamental right, the legislation is yet to pass. As the draft bill macroeconomic indicators for India, it is es of monetary tightening, risks to financial priorities, which it must not squander away which the BJP has an alliance would hardly be
inches one step closer to becoming a law, concerns abound on important to remain cautious and attentive stability, and increasing debt levels contrib- through inefficient oil use. enough to ensure an election win for the PM.
various aspects, including wide-ranging exemptions to the gov- to potential challenges, risks and opportuni- ute to the challenge of limited scope for mer- Another significant area in financial mar- C V Aravind, Bengaluru
ties that may arise. chandise trade volume growth. The WTO kets and institutions is the transition from
ernment, autonomy and neutrality of the data protection board, Child malnutrition
One of the significant challenges India predicts that the merchandise trade volume the London Interbank Offer Rate (LIBOR) to
the reasonability of penalties, and cross-border data flows. faces is volatility in the availability and con- will grow only by 1.7% in 2023, compared to alternative reference rates, which holds sig- Ref: Put the kibosh on child malnutrition
The contentious issue includes the disproportionate influence sequent pricing of global food supplies. This a 2.7% growth in 2022 and a substantial 9.4% nificant implications for India. LIBOR, fast (July 7). Both the Central and state
of the State—comprising Central and state governments, local volatility can directly impact domestic infla- growth in 2021. As such, India cannot rely which has been in use for over 50 years, has governments have a major role to play in
bodies and authorities—and the numerous exemptions accord- tion, particularly if transportation and en- on exports—which accounted for a meagre served as a widely used benchmark for pric- child health, as this is very important for
ed to it for data collection and processing. Policy wonks have ergy costs remain high. The World Trade 21.5% of GDP in 2021-22—as a driving force ing various financial instruments, includ- the development of the economy. Giving less
reasoned beyond doubt why such exemptions may violate the Organization (WTO) has attested to these for growth. ing loans, derivatives and bonds. With the importance to this will cause a self-inflicted
concerns in its Global Trade Outlook report, UK’s Financial Conduct Authority (FCA) disaster. Right from the pregnancy stage,
right to privacy. Yet, the bill does not force the State or digital which indicates a 44% year-on-year increase mandating the discontinuation of LIBOR as governments must ensure that adequate
players to delete personal data after intended usage. Justice in the average price of wheat during the of July 1, 2023, market participants will no nutrition is given for the child’s growth.
B N Srikrishna, who chaired the first committee to draft the bill first 10 months of 2022. Interestingly, the longer be able to rely on LIBOR for pricing S Chockalingam, Kottaram
in 2018, also seemed concerned about the latest draft, citing “too value of traded wheat only rose by 31%, sug- their financial products. This means regula-
much margin to the government and does little to protect indi- gesting a decline in the volume of global tors, banks and financial institutions will be Protecting tribals
viduals’ fundamental right of data privacy.” While granting ac- wheat trade by 7.5%. Although global prices crucial in educating market participants Urinating on someone’s face is a humiliation
of grains, vegetable oil and dairy products about the transition from LIBOR and rais- of humanity. Despite laws to protect tribals,
cess to the State on the grounds of national security is elemen-
have started to decrease, the increase in ing awareness about alternative reference discrimination against them and other lower
tal, it is also the lawmakers’ responsibility to put in reasonable sugar, meat, and poultry prices might coun- rates that will replace it. This involves dis- caste individuals remains a daily reality.
PTI
efforts to safeguard and prevent data overuse and misuse. terbalance these reductions. India will need seminating information, conducting work- This recent incident has put Madhya Pradesh
Other troubling aspects include the sweeping powers vested to develop self-sufficiency vis-à-vis its shops, and providing guidance to ensure a to shame. The strictest punishment should
with the data protection board to accept settlement fees from foodgrains, requiring attention to agricul- India faces volatility in the smooth and orderly transition. be given to the guilty person and atrocities
violating entities and determine the penalty amount. The con- tural productivity. availability and consequent The transition from LIBOR also requires against tribals should be stopped.
tents of the latest draft bill are kept confidential, but it needs A second concern is the sticky core infla- pricing of global food supplies. adjustments to be made in financial con- M T Farooqi, Hyderabad
tion in most developed economies, making tracts and agreements that currently rely on
thorough scrutiny to ensure the right balance between data central bank monetary policy intervention This volatility can directly impact LIBOR as a benchmark, including renegoti- Manipur games
processing and infringement. The protection of privacy as a inevitable. Thus, core inflation—the metric domestic inflation ating contracts, updating documentation, Ref: Games politicians play on Manipur
fundamental right is simply non-negotiable. which excludes volatile items such as food and incorporating the use of alternative ref- battlefield (July 6). This left me in tears. The
and fuels—has remained high in developed A noteworthy development in India’s eco- erence rates, such as the Secured Overnight politicians’ visits, be it Congress or BJP, are
economies, even while headline consumer nomic landscape relates to its crude oil im- Financing Rate (SOFR) or the Indian Over- of no use in curtailing the problem. Instead,
Q U I C K TA K E price inflation has reduced due to declining ports and constitutes a potential opportu- night Rate. These changes must be imple- they really play games for a large vote bank.
food and energy prices. nity for India to reduce its expenditure on mented effectively to ensure contractual But by this time, the villagers of Manipur have
THE BATTERY CHARGE Take, for example, the United States infla-
tion figures. According to OECD statistics,
oil significantly. Beginning from June 8,
2023, the Brent crude oil price benchmark—
continuity and mitigate any potential dis-
ruptions in the financial system. Addition-
understood the politicians well. To share the
pain of the people of Manipur, our PM should
A
global race is on to increase the lifespan of lithium-ion bat- while headline inflation in the US dropped widely recognised as the most important ally, financial institutions will need to assess come out with soothing words of consolation
from 9.1% in June 2022 to 4% in May 2023, global benchmark—has started incorporat- the impact of the transition on their balance and take creative steps in this regard.
teries for EVs and reduce their price. The latest is China’s core inflation fell only marginally from 6.6% ing crude oil prices from the US, specifically sheets, risk management frameworks and Dr Indra Getzy David, Tirunelveli
CATL, the world’s largest battery maker, joining forces with in September 2022 to 5.3% in May 2023. Simi- the West Texas Intermediate Midland crude. business models. It may also involve ad-
Germany for battery innovation. The battery is the EV’s most larly, in the European Union, headline infla- Including this cheaper US crude oil in the dressing potential valuation and accounting Bengal governor
valuable component at 40–50% of the latter’s cost. The outland- tion dropped from 11.5% in October 2022 to calculation of Brent prices is expected to implications arising from the transition. The West Bengal governor is often in the
ish price hampers the inevitable transition to EVs. Indian com- 6.1% in May 2023, while core inflation con- lower the average crude prices globally. Achieving the fastest-growing economy news for his aggressive stances against the
panies must invest more in researching new technologies. Sev- tinued to rise, reaching 6.6% in March 2023 This development is particularly benefi- tag has been an accomplishment. Maintain- TMC government, which gives the party a
before it came down marginally to 6.13% in cial for India, which is a net oil importer and ing it will require agility in tapping the op- reason to accuse him of acting under Delhi’s
eral startups are experimenting with nanoparticles and
May 2023. Such sticky inflation would mean might benefit from the reduced costs of im- portunities and deftly tackling the challeng- instructions. Him publicly accusing the SEC
graphene materials. Their products might have longer shelf that the era of high-interest rates may con- ported oil. The potential cost savings from es the external environment poses. for the poll violence and deaths is a recent
lives, charge faster and suit the Indian climate. The National tinue, with its attendant consequences im- including US crude oil in the Brent bench- (Views are personal) example. Is he aiming for the post of V-P?
Research Fund must back them to speed up the process. pacting emerging market economy curren- mark can have positive implications for In- (tulsi.jayakumar@spjimr.org) Capt Raju Mathai, Kochi
A TIP ON GOVERNANCE
tices Hrishikesh Roy is not mandatory or
Lok Sabha Speaker Om Birla calls on Mongolian President Ukhnaagiin Khurelsukh in Ulaanbaatar on Friday. Birla offered all
and Pankaj Mithal.
The Madhya Pradesh
High Cour t HC on
necessary that a candi-
date, who is contesting
the election in ques-
amounts to privacy violation
support to Mongolia to train its parliamentarians and develop related institutions in the north-central Asian region | EXPRESS
March 17, 2023, refused tion, should disclose S H R U T I K A K K A R @ New Delhi
to direct state police to registration of FIR. At
register an FIR against THE Supreme Court has agreed to examine whether seeking de-
Navy looks to hire more from Northeast, Ladakh NCPCR told to review infra gaps in
M AYA N K S I N G H @ New Delhi
10
Ahmedabad 42 27 Mumbai 35 29
I M M I G RAT I O N F RAU D Bhopal 43 28 Panaji 32 28
Punjab’s NRI Affairs Minister Kuldeep Singh Dhaliwal Jaipur 41 30 Patna 41 27
Amritsar 40 23 Lucknow 42 27
has said a list of unscrupulous immigration agents who Chennai 39 30 Port Blair 34 28
dupe people by sending them abroad on false promises AFTER SIKKIM BUS Kolkata 36 26 Imphal 23 18
is ready and added that strict action will be taken HURT HITS SUV IN BENGAL Srinagar 18 08 Chandigarh 42 23
In his trips to Uttar Pradesh & Chhattisgarh, PM raises development pitch, announces several mega projects for the two states
Bihar govt to
give `4 lakh each Pawar Sr makes calls to win Import duty cut for US
apples worries farmers
R A M A S H A N K A R @ Patna
S U D H I R S U RYAWA N S H I @ Mumbai
Will Ajit Pawar get finance? and they will have to incur heavy
losses. According to Kashmir Valley
NCP leader Sharad Pawar has Fruit Growers-cum-Dealers Union
FOR the first time, Bihar gov- started playing the hard ball It has been five days since Ajit Pawar and a few president Bashir Ahmed Basheer, a
ernment is all set to provide with Ajit Pawar by getting af- MLAs of his faction took oath ministers last Sunday, reduction in import duty on
compensation to family mem- fidavits of 19 MLAs in his sup- but they remain ministers without portfolios. And a American apples from 70% to 50%
tug of war is going on between deputy chief
J’khand gang installs GPS in car, flees with `5 cr U’khand CM hints at special assembly
M U K E S H R A N JA N @ Ranchi
US TO PROVIDE CLUSTER
TECH WAR
34
A cluster munition is a
ALL
Twitter warns
bomb that opens in the air
YOU and releases smaller
WORKS DEPARTMENT
OFFICE OF THE CHIEF CONSTRUCTION ENGINEER,
EASTERN CIRCLE (R&B), BALASORE
e-mail: - seec_bls@rediffmail.com
Government of Odisha "e" Procurement Notice
Log to www.newindianexpress.com
Watch 165.50 Nifty 19,331.80 100 22 carat (10 gm) H54,300 7 Per 10 gm H723 Euro 90.34
WHAT ON CARD
1 Multiplexes want 12%
GST rate on food items
Reliance Retail to reduce share capital
served to avail input
tax credit
SAC H I N K U M A R @ New Delhi restructuring, IPO or mergers proposal to reduce equity share
and acquisitions. capital to the extent held by
2 Under 5% GST rate, input THE board of Reliance Retail “According to our assump- shareholders other than its
tax credit not possible Ltd, a subsidiary of Reliance tion approval of proposal to re- promoter and the holding com-
Industries Ltd (RIL), has ap- duce equity share capital could pany, namely, Reliance Retail
3 Council may also decide proved a proposal to reduce the be a part of company’s exercise Ventures,” the company said in
on tax rate on Casinos as equity share capital held by of structuring of business. a filing to the BSE.
at GST on foods
4
position on the taxation Reliance Retail a 100 percent Mumbai based analyst told this termined on the basis of valua- 85.06% of the subscribed equity
of multi-utility vehicles promoter-owned company, has newspaper. tion obtained from two inde- shares of RRVL, which in turn
sparked speculations about According to sources, Reli- pendent registered valuers. holds 99.91% of the subscribed
4 Council will also give its company’s plans to float Initial ance Retail has been valued at Non-promoters have a very equity shares of Reliance Re-
served in cinemas
nod to operational Public Offering (IPO) in com- $92-96 billion two global con- small holding, less than 1% in tail. Non promoters hold 0.09%,
framework of GST ing months. According to ana- sultants -- EY and BDO. the company. nearly 78.65 lakh equity shares.
Appellate Tribunal lysts, this move will make it The company will pay `1,362 “The board of directors of After the equity reduction, the
easy for the company to take per share to the affected share- the company at its meeting held shares held by the sharehold-
decision regarding any future holders, said the company on on July 4, 2023, has approved a ers will stand cancelled.
Multiplexes want higher tax rate as under 5% rate they can’t avail ITC
M O N I K A YA DAV @ New Delhi In addition, the long-pending
issue related to taxation of on-
hicles (MUVs).
According to sources, it may
Q1 PREVIEW
Tata Motors SC asks SpiceJet to pay `380 cr to Maran
THE GST Council in its next line gaming, casinos and horse bring it at par with the sports
meeting on July 11 may consid-
er increasing the tax rate on
racing will also be taken up in
the meeting.
utility vehicles (SUVs) on
which a 22% cess is levied, if expects JLR to E N S E CO N O M I C B U R E AU @ Mumbai must be followed, particularly in
the “commercial matters”.
report £400 mn
items served in the food courts “There is no disagreement these vehicles cross 4,000 mm THE Supreme Court (SC) on Commenting on the apex
of multiplexes to 12% from cur- over the tax rate of 28% on on- in length, have an engine big- Friday directed budget airline court’s judgment, a SpiceJet
rent 5%, according to govern- line gaming, however, the con- ger than 1500 cc and have a SpiceJet to pay the entire arbi- spokesperson said, “The present
ment sources.
Multiplexes want higher tax
tention is on the considerable
value for taxation. While the
clearance larger than 170 mm.
The decision will have a mas-
positive cash flow tration award of `380 crore to
its former promoter Kalanithi
order of Supreme Court is the
reiteration of its earlier order
rate as under the 5% rate, they revenue department wants tax- sive impact on the pricing of Maran. airline to pay `75 crore to Kal passed in February 2023. The
cannot avail the benefits of in- ation on the full consideration MUVs like Maruti Suzuki Erit- E N S E CO N O M I C B U R E AU @ Chennai The top court’s decision re- Airways and Kalanithi Maran main petition challenging the
put tax credit. received, some federations are ga, Toyota Innova, Invicto lates to the long-drawn-out dis- within a period of three months award by both the parties are
“Earlier the fitment commit- demanding that it should be among others, say experts. ON the back of strong sales, pute of seven years between towards its interest liability pending disposal by the Delhi
tee had rejected the suggestion considered a game of skill and Meanwhile, the Council will Tata Motors expects its British the both the founders - Ajay under the arbitral award. High Court. The matter relates
of multiplexes, but this time, it taxed only for the amount uti- also give its nod to the opera- subsidiary Jaguar Land Lover Singh and Maran. Meanwhile, it had also made it to payment of interest on a prin-
is being taken up in the GST lized,” a top gover nment tional framework of the GST (JLR) to report positive free The court observed that the clear that in the event of failure cipal amount of ` 579 crore that
council meeting agenda. They source said. Appellate Tribunal in its cash flow of over £400 mn in the application for extension of by SpiceJet to pay, the entire has already been paid.” “Spice-
want a 12% tax rate on items Further, he said that the next meet. “ first quarter (Q1FY24) of the fi- time by two more months after award would become executa- Jet is engaged in talks with Mr.
served in their food courts to Council would likely decide on Rules have been framed for nancial year 2024. the 3-month period had expired ble in entirety in favour of Kal Kalanithi Maran and his firm
get ITC. Under 5%, it’s not pos- the tax rate on Casinos as some the operation of GSTAT, this JLR on Friday reported its on May 13, by the airline is Airways and Maran. KAL Airways and remains com-
s i b l e, ” t h e s o u r c e s a i d . states including Goa are de- will be presented before the wholesale volumes for Q1 were nothing but a delay tactic to not The SC bench comprising mitted to finding an amicable
He further added that this step manding 28%, others want to Council for their clearance. 93,253 units (excluding Chery pay money even when there are chief justice DY Chandrachud settlement. We remain confi-
would also help the govern- go for 18%. Hopefully, the tribunal will be Jaguar Land Rover China JV), Court orders directing the and Justice PS Narasimha noted dent of resolving this to the sat-
ment in garnering more tax Besides this, the government functional by the end of this up 30% as against the same quar- same. It had passed an order in a clear message needs to be sent isfaction of both sides through
revenue due to increased rate will also clarify its position on year,” another government ter a year ago. Wholesales were February13,2023, directing the across that top court’s orders discussions,” it further added.
of taxation. the taxation of multi-utility ve- source said. lower (down 1%) compared to
the prior quarter ending March
31, 2023. Retail sales for Q1 were A S I A N O M I C S
Microsoft India
McDonald’s removes tomatoes from 101,994 units
(including the
Chery Jaguar
M A L AYS I A
CENTRAL BANK HOLDS KEY RATE
president
burgers, other items in many regions
Land Rover Chi-
na JV), up 29%
as against the
Malaysia’s central bank has kept overnight policy rate (OPR) unchanged
at 3% on Thursday (Jul 6), with inflation easing and economic growth Maheshwari quits
same quarter a moderating in recent months. Bank Negara Malaysia’s decidion to hold rate
A RS H A D K H A N @ New Delhi quality specifications available. year ago. Retails were flat (down was in expected line as the country’s inflation has shown signs of cooling. E N S E CO N O M I C B U R E AU @ Bengaluru
Pause in rate hike showed the central bank is more confident about the
To ensure our customers get 1%) compared to the prior quar-
country’s growth and inflation outlook. However, this could put pressure
McDonald’s has removed toma- the best quality we are known ter ending 31 March 2023. on ringgit movements due to widening gap between OPR and federal funds MICROSOFT INDIA president
toes from their burgers and to serve, we are constrained to “Based on preliminary cash rate (FFR). At the current OPR level, the monetary policy stance remains Anant Maheshwari has stepped
other food items in many parts hold tomatoes for the time be- balances, JLR expects to report “slightly accommodative and supportive of the economy”, Bank Negara down from his post to pursue
of India. ing,” said McDonald’s India - positive free cash flow of over reiterated. After strong first-quarter growth of 5.6%, the country’s economy other interests.
This action by the popular North and East Spokesperson. £400 million in the quarter,” it has expanded at a moderate pace in recent months weighed down mainly by “We can confirm that Anant
fast food chain comes as tomato The spokesperson reiterated said in a statement. Following slower external demand. has decided to leave Microsoft
prices have skyrocketed in the that it is not due to surge in this announcement, Tata Mo- to pursue a role outside the
last one month. McDonald’s - prices but for the non-availabil- tors shares erased early losses company. We would like to
North and East- on Friday said raphies, tomato prices have sky- ity of tomatoes meeting their and touched an all-time high of ASIA thank Anant for his contribu-
it is dropping tomatoes from its rocketed in last one month, forc- quality specifications. “We are `612.40 on Friday. The stock has WALL STREET SELL-OFF DRAGS SHARES DOWN tions to our business and cul-
menu items due to a “tempo- ing many state governments to working towards resolving this soared 42% this year. JLR add- ture in India and wish him eve-
rary” seasonal issue in procure- take action. In some regions, issue by employing sustainable ed that its order book remained Asian markets on Friday tumbled on the back off sell-off seen in the ry success in his future
Wall Street. Japanese benchmark index Nikkei 225 closed 1.17% lower
ment and that they will bring wholesale prices of tomatoes agriculture practices including strong with over 185,000 client endeavors,” Microsoft spokes-
at 32,388.42 following disappointing household spending data, while
back them in menu soon. A have tripled in a month to a high hydroponically-grown toma- orders at quarter end, reducing the broader Topix index fell 0.97% to 2,254.90. Chinese index Shanghai person said in a statement.
large number of its outlets in of 140 rupees, with retail prices toes in controlled environment from 200,000 on 31 March 2023 Composite tumbled 0.28% to 3,196.61, while Hong Kong’s Heng Seng fell There has been rejig among
Delhi also hung a notice about soaring even higher. to de-risk our requirements in line with expectations, as 0.9% to 18,365.70 on Friday. South Korean index Kospi closing 1.16% lower top-level executives. As per re-
the unavailability of tomatoes. “Due to seasonal crop issues from vagaries of season. We chip and other supply con- at 2,526.71, affected by the negative sentiment. Australia’s S&P/ASX 200 ports, the company’s COO Irina
Owing to a host of factors arising out of farm fields in a should be able to bring back to- straints continue to improve. tumbled significantly by 1.69% to 7,042.30, while New Zealand’s S&P/ Ghose has been promoted as
such as prolonged heatwaves few regions, there are not matoes to menu soon,” added JLR will report full financial NZX 50 index rose slightly by 0.17% to 11,980.12. On the Wall Street, S&P managing director of India. It
and heavy rain in certain geog- enough quantities meeting our the spokesperson added. results for Q1 later in July. declined 0.10% to 4,406.73, and Dow Jones fell 0.24% to 33,841.62. Most of has over 20,000 employees
the markets across the world witnessed negative trend on the back of weak across 10 cities in the country.
macro economic outlook. Maheshwari has done MBA
high as interest rate hike fear looms biz from Twin Star AFTER touching the annual He added that despite the cession,” he added.
high - over $31,500 level, on Federal Reserve pausing inter- At an event in Bengaluru on
MUMBAI: Anil Agarwal-led Thursday, the world’s largest est rate increase on June 14, Friday, RBI Deputy Governor T
Vedanta Group will acquire 100% cryptocurrency Bitcoin was Fed Chair Jerome Powell seems Rabi Sankar said people trading
E N S E CO N O M I C B U R E AU @ New Delhi Investors are now worried pectations of a prolonged high- stake in semiconductor and consolidating at the $30,000 lev- committed to reducing infla- crypto is not the concern but the
that the Federal Reserve will interest rate environment fol- display units from sister concern el on Friday. tion by restarting rate hikes. unbacked cryptocurrencies and
AFTER hitting successive increase interest rates later lowing a sharp increase in US Twin Star Technologies, it said on But experts say in the long- “The market correction ob- the product itself alongside its
highs in the last two weeks, In- this month and keep them at el- private payroll data. Investors Friday. Twin Star Technologies term, market participants still served may be attributed to in- backers is the problem. He said
dia’s equity market closed with evated levels to bring down con- are eagerly awaiting the release (TSTL) is a wholly-owned expect the price of Bitcoin to vestors and traders anticipat- stablecoins pegged to other cur-
a noticeable cut on Friday sumer inflation. This has of key US non-farm pay- subsidiary of Volcan Investments. recover, as more financial insti- ing potential interest rate hikes rencies in emerging market
amidst negative global cues. resulted in increased roll and unemployment The new structure will make tutions are pushing for Bitcoin in the future. This anticipation economies pose several threats.
India and other Asian mar- demand for US bond data today, which will Vedanta India’s first company in financial instruments which Meanwhile, crypto trading ex-
kets fell on Friday after Wall yields and made equi- provide further clues integrated semiconductor and might spark a bull run in the change Unocoin said it has com-
Street retreated on Thursday fol- ties unattractive. on the Fed’s policy di- display fab business. “Board of near future. pleted Proof of Reserves (PoR)
lowing a rise in the US job data Vinod Nair, head of rection ahead of its Directors at their meeting held on In the beginning of 2023, Bit- verification process. Proof of
which stoked fresh fears of a research at Geojit Fi- July meeting.” July 7, 2023, have considered and coin was trading below the Reserves is a concept that as-
prolonged interest hike regime. nancial Services, said, In the Sensex, Tata approved acquisition of 100% of $17,000 mark and it reached the sures users of the integrity and
Sensex on Friday hit its fresh “The domestic market suc- Motors (up 2.94%) and Ti- Vedanta Foxconn Semiconductors $30,000 level recently. “Although trustworthiness of cryptocur-
record high of 65,898.98 during cumbed to profit-booking as tan (up 1.26%) were top gainers (VFSPL) and Vedanta Displays the current short-term uncer- rency exchanges.
the early trading hour but closed heat waves from weak global while Power Grid, IndusInd (VDL), wholly owned subsidiaries tainty in the crypto market ex-
with a loss of 505 points at markets hit the shore. Global Bank, Hindustan Unilever and of TSTL via share transfer at face ists, it may not alter the long-
Although the current short-term uncertainty in the crypto market
65,280.45 while the Nifty fell 166 equities declined due to a spike NTPC were the top laggards, value,” Vedanta said in a term outlook of investors,” exists, it may not alter the long-term outlook of investors
points to close at 19,331.80. in US bond yields, fuelled by ex- each falling over 2%. regulatory filing. PTI said Edul Patel, CEO and Co- —Edul Patel, CEO & Co-founder, Mudrex, a global crypto investment platform
Sindhu, Sen enter
PV Sindhu and Lakshya Sen progressed to the quarterfinals of the
women’s and men’s singles competitions respectively at the Canada
Open Super 500 tournament here. While Sindhu advanced to the last
Q/F of Canada Open eight after her opponent Natsuki Nidaira of Japan gave a her a walkover,
Sen notched up a 21-15 21-11 win over Brazil’s Ygor Coelho in 31 minutes.
The Hyderabad paddler is set to make her maiden appearance at the multi-sport event in China this September
Captain Cummins leads from front as visitors hold the edge lish Premier Leagues and the
Champions League. “C’sar
leaves an everlasting mark at
Chelsea, as a warrior, as a
clubs that qualified, including
AC Milan, but all had limits
placed on future transfer deal-
ings with their sibling teams.
A G E N C I E S @ Leeds were all out for 237 before tea deficit damage as captain Ben champion, and as a loyal Chel- UEFA drafted rules on mul-
after captain Ben Stokes mus- Stokes and even pacer Mark sea legend,’ club co-owners ti-club ownership 25 years ago
TRAVIS Head and Mitch Marsh cled 80 runs and shepherded Wood went on the attack in Todd Boehly and Behdad Egh- to protect the integrity of its
held off a resurgent England to the tail to get them within 26 their first innings to eventually bali said. “He has set the competitions when the teams
extend Australia’s fragile lead runs of Australia’s first total. concede only a 26-run advan- standards at the club for more could be drawn to play each
to 142 runs after two days of the Australia captain Pat Cum- tage to Australia. The host was than a decade and demon- other during the season.
third Ashes Test at Headingley mins banked 6-91 for his first all out for 237 in reply to Aus- strated to everyone what is UEFA-appointed investigators
on Friday. five-wicket haul in England. tralia’s 263. required day in, day out, to evaluated three cases in re-
Marnus Labuschagne and Cummins is trying to help his England started after lunch achieve success.” cent weeks. UEFA noted the
Steve Smith squandered a per- side clinch the Ashes for the on 147-2, still 121 runs behind. ‘significant changes by the
fect batting track against a de- first time in England since That deficit was quickly re-
Uruguay’s Ugarte joins PSG clubs and their related inves-
pleted England bowling attack 2001. England must win to stay duced as Stokes advanced in PARIS: Paris Saint-Germain tors’ to comply with the rules.
by gifting their wickets after alive. Despite a flattening deck, the afternoon session from 27 made its third signing of the ‘The clubs will not transfer
tea to Moeen Ali. Head, on 18, wickets were falling at a pace not out to a team-best 80, which summer transfer window by players to each other, whether
and Marsh, on 17, negotiated that suggested the match might included five sixes and six adding Sporting Lisbon mid- permanently or on loan, di-
the last 12.1 overs to advance be over on Sunday with a day to fours. Brief scores: Australia 263 & 116/4 fielder Manuel Ugarte to its rectly or indirectly, until Sep-
Australia to 116-4 in its second spare. in 47 ovs vs England 237 all out in 52.3 ovs squad on Friday. PSG said the tember 2024,’ UEFA said in a
innings at stumps. England England earlier limited the Pat Cummins (left) took 6/91 to help Australia gain a 26-run lead on Friday | AP (Stokes 80; Cummins 6/91). Uruguay international signed statement.
Maritime nations agreed Friday to slash emissions from
the shipping industry to net zero by about 2050 in a deal
that several experts and nations say falls short of what’s
needed to curb warming to agreed temperature limits
I
NDIA’S salt water croc- crocodile population. hampur University in Odisha, in
odile conservation pro- However, what has presented a their study titled ‘Salt water croco-
gramme, one of the suc- problem is the density of the salt- dile and human conflict around
cess stories in the last water crocodile—it has already Bhitarkanika National Park, In-
48 years, is staring at surpassed the density of five to six dia: A rising concern for determin-
new challenges. From crocodiles per square km of ing conservation limits’, underlined
local extinction in Ker- water. the need to re-think the strategy.
ala and Tamil Nadu to proposals in This has started throwing fresh “The scenario has risen to an
the past to delist the salties in Un- challenges primarily due to equal- alarming stage where we have to
ion Territory of Andaman and ly growing human activities and rethink about the conservation
Nicobar Islands, it has reached a increasing dependency of people strategy of the species and develop
A woman fetches water from a river point where discussion on scien- on Bramhani and Kharasrota riv- a suitable management plan for
infested with crocodiles. Rise in crocodile tific management is crying out for ers as well as local nullahs and the coexistence of these reptiles
count at Odisha’s Bhitarkanika National attention. water-bodies in and around Bhitar- and the inhabitants in their sur-
Park has led to a surge of The rising conflict in Odisha’s roundings,” the paper said.
human-wildlife conflict Bhitarkanika National Park is the The study authors say conserva-
| DEBADATTA MALLICK newest addition to the conserva- tion and management strategy of
tion management debate. A grow- estuarine crocodiles should in-
ing density of reptiles and the ever clude determination of carrying
increasing anthropogenic pres- capacity of the sanctuary, mini-
sure has resulted in at least 10 fa- mising exploitation of natural re-
talities in crocodile attacks in the sources, relocation of excess popu-
ocean cleanup
gramme through captive breeding Herpetologist and scientist from
started in India around 1974-75 af- Zoological Survey of India Praty-
ter indiscriminate killing and hab- ush Mohapatra feels the strategies
movement in Vizag itat loss pushed the population of
the estuarine crocodiles to the
need to be localised and case-spe-
cific when it comes to measures
brink of extinction. Authorities put up posters which warn of required to prevent conflict.
U S H A P E R I @ Vizag The gover nment- dangers posed by crocs | DEBADATTA MALLICK He says it is extremely impor-
run programme was tant to raise awareness about be-
SUBHASH Chandran, a professional
scuba diver, has embarked on an in- INDIA’S launched in Odisha
in collaboration
kanika national park, a vibrant
mangrove eco-system of India.
haviour of these reptiles and plans
to avoid man-crocodile conflict but
spiring journey to restore the pristine
SUCCESSFUL with UNDP and Inadequate household piped wa- underlines the need for creating
CROCODILE
beauty of Rushikonda Beach in Vi- Food and Agricul- ter connection in the fringe villag- rapid response teams to relocate
sakhapatnam. What started as an ordi- tural Organisation es as well as the natural depend- crocodiles.
nary exploration beneath the azure (FAO) in 1975. ence on the river as part of “Mapping the density and spillo-
waves turned into a life-altering expe- This coupled with other meas- socio-cultural behaviour has only ver population regions is a must
rience when Subhash stumbled upon ures, including notification of Bhi- led to escalating conflicts as spillo- besides putting in place rapid re-
an alarming underwater garbage
graveyard. Determined to make a dif- CONSERVATION tarkanika as a wildlife sanctuary,
contributed significantly to the re-
ver population of crocodiles show
up near human habitations.
sponse teams by the Forest depart-
ment. These teams must respond
ference, he, along with Cinderella Pot-
PROGRAMMME STARES AT vival of the population in the next The Odisha Forest department, within two to three hours and be
NEW
nuru and fellow divers from Platypus two decades. in response, unfurled a spate of equipped with infrastructure,”
Escapes, dedicated themselves to As the number increased—from public awareness programmes to Mohapatra says.
cleansing the oceans and raising just around 96 in 1974 to over 1,000 arrest the conflict in the river-de- Experts point out that timely in-
CHALLENGES
awareness about the dire state of ma- in 1995—the Forest department pendent villages. tervention is extremely important
rine pollution. had to stop the breeding However, experts feel the cur- which otherwise may affect con-
The recognition received from PM programme. rent situation in Bhitarkanika un- servation as it happened in south-
Modi during his Mann ki Baat pro- The protection measures put in derlines the need for appropriate ern Indian states where presence
gramme in 2019 served as a source of place, however, continued to sup- intervention to encourage human- of saltwater crocodile species has
inspiration for these divers. Despite a plement the growth of the estua- crocodile coexistence in a sustain- dwindled.
temporary closure due to the Covid-19
pandemic, Subhash and his team re-
turned to Vizag in 2022, fueled by the
support of local volunteers. Since
then, they have conducted 91 weekly
JUNE, THE NEW DOG DAYS FOR THE SOUTH PENINSULAR INDIA
underwater ocean cleaning activities, J I T E N D R A C H O U B E Y @ New Delhi their hottest June in record- Agni Natchathiram period In fact, June was south pe- temperatures above normal. More than half of India is
retrieving 64,200 kg of garbage. Realis- ed history. Data compiled by in Tamil Nadu was its hot- ninsular India’s hottest and Besides, the June rainfall staring at drought-like con-
ing that simply cleaning the surface SOUTHERN peninsular In- the European Centre for Me- test. Also called dog days, the driest month since 1901. The over the homogeneous re- ditions as the rainfall deficit
was not enough, they turned to the dia and the United Kingdom dium-Range Weather Fore- period this year was from peninsula, a gateway to the gion of the south peninsular stood at 10% at the end of
power of social media to rally volun- appear to be on the same casts revealed that June this May 4 to May 29. Looks like Southwest monsoon, re- India was 88.6 mm—the low- June. Out of India’s 36 Met
teers and raise awareness. page as far as climate change year was globally the hottest climate change has pushed ceived record deficient rain- est since 1901. The previous sub-divisions, 19 received de-
is concerned. Both witnessed on record. Traditionally, the the dog days by a month. fall in the month and had lowest was 90.7 mm in 1976. ficient rainfall in June.