Sourav Ganguly, the president of Board of Control for Cricket in India (BCCI), was admitted to hospital in Kolkata on Saturday after he suffered a blackout at his home and complained of chest pain.
The 48-year-old former India captain complained of dizziness and then suffered the blackout just after he had returned from gym.
He was immediately rushed to city’s Woodlands Multispeciality Hospital.
It has been learnt that Saroj Mondal, a doctor at the city’s SSKM hospital, has also reached the Woodlands Hospital to attend to Ganguly.
“Operations till 23 Jan will be restricted to 15 flights per week each for carriers of the two countries to & from Delhi, Mumbai, Bengaluru & Hyderabad only. @DGCAIndia will issue the details shortly.”
Several countries including India had suspended flight services to the UK in the wake of the new mutant Covid-19 strain.
India was elected for the eighth time to the Council polling 184 votes of the 192 votes cast for the non-permanent seat to represent Asia…reports Arul Louis
India became a non-permanent member of the Security Council on Friday taking a seat at the UN’s highest decision-making body at a time of changing reality even as it presses ahead with its quest for a permanent seat.
As a member, India will be able to push its agenda of promoting the ethos of “Vasudhaiva Kutumbakam” — the world is one family — while being the leading voice on combating terrorism, and also confronting China’s attempts to bring up Kashmir.
During the crucial phase of the world emerging from the trauma and chaos of the COVID-19 pandemic to face change realities, New Delhi can help shape the new order.
With T.S. Tirumurti as the permanent representative, India will formally take its seat on Monday morning when the Council meets for its first meeting of the year in a closed session presided over by Tunisia’s Permanent Representative Tarek Ladeb, the president for the month of January.
India’s flag will go up in front of the Council chamber at a televised ceremony at noon local time (10.30 p.m. in India) proclaiming its membership.
India was elected for the eighth time to the Council polling 184 votes of the 192 votes cast for the non-permanent seat to represent Asia.
T.S. Tirumurti, India’s Permanent Representative at UN
Indonesia retired at the end of 2020, leaving India to succeed it on the Council. Vietnam is the other Asian country holding a non-permanent seat on the 15-member Council.
As historically the biggest contributor of troops to UN peace-keeping, India will have an input into determining how the operations are mandated. India has complained that the process driven by the permanent members does not adequately consult with the troop-contributors or take their experiences into account.
India has warned about the Council’s mission-creep a” taking on issues like climate change for which it does not have a mandate under the UN Charter. Now, India can voice its reservations in the Council.
During the past two years, China has tried to bring up the Kashmir issue in the Council as a favour to its client Pakistan. Because of the opposition of the other members, Beijing has not been able to hold an open session and has had to settle for informal consultations without any statement or record.
If Beijing tries again to bring up Kashmir, India will be able to directly deal with the attempts and should informal sessions be held, it can answer right there.
A view of the United Nations Security Council in November 2012 with India’s then-Permanent Representative Hardeep Puri at the centre when India was last a non-permanent member of the Council. (Photo: UN/IANS)
Being on the Council will mean taking positions and setting out its stand almost daily on global issues, sometimes in real-time.
The Indian mission has been reinforced with at least four more diplomats to take care of the increased workload.
The hot spots confronting the Council right now are Yemen, Syria, North Korea, Ethiopia, Iran, Myanmar, Afghanistan and the Central African Republic. When it was out of the Council, India did not have to take a stand, for example, on issues like the Ethiopian crisis or expound it to the world, but it will now have to react.
There are also confrontations involving permanent members a” Russia with Ukraine, and China with India and several Indo-Pacific countries.
At the Council, India will find its emerging foreign policy outlook of assertive independence with primacy to its perceived interests tested as its diplomacy is stretched while balancing its strategic interests amid competing pulls.
For instance in Yemen, where there has been a fresh round of violence this week, India will have to deal with the seepage of Middle Eastern rivalries into the conflict with Saudi Arabia as a key player of interest to India.
In Syria, there is the line up of Russia versus the western nations and that is the case also with Moscow’s dispute with Kyiv.
The degree of polarisation at the Council is likely to lessen on one front with the change in the United States presidency and India will not face the same degree on pressures on issues like Iran and Venezuela.
Pakistan Prime Minister Imran Khan with Chinese Preisident Xi Jinping
The distinctive division in the Council is between the western countries and Russia, with China being on the side of Russia most of the time, although often not as assertively.
While India has drifted closer to Western European positions on some issues like Israel, on others like Syria, it is closer to Russia’s.
And on the Rohingya refugee crisis, New Delhi’s stance is closer to Beijing’s, rather than the West’s.
India first served on the Council in 1950 and 16 years elapsed before its next turn in 1967. Since then, it has been been on the Council six more times with increasing frequency, the last one in 2011.
Corporate earnings recovery will likely provide a cushion for valuations in 2021, Motilal Oswal Private Wealth Management said in its 2020 year-ender note.
It pointed out that earnings growth over the last few years have remained subdued on account of structural reforms such as GST, IBC and RERA.
“With Corporate India deleveraging its balance sheet by a considerable extent over the last few years, and with financial system (particularly PSU banks) already at high provision coverage, corporate profit-to-GDP ratio in India should start inching upwards steadily from its current decadal lows over the next few quarters,” the note said.
“Hence, while our ‘Temperature Gauge Index’ for equities indicates that Large Cap valuations are in expensive zone, earnings recovery going forward will likely provide cushion for valuations. The broader market still offers a lot of attractive investment opportunities.”
According to the note, Q2FY20 domestic earnings season saw a ‘bumper harvest’ with majority of companies beating estimates.
“Cost optimisation during the lockdown phase has been one of the main reasons for the growth in profits apart from demand recovery,” the note said.
“Managements across sectors are talking about continued recovery in the upcoming quarter due to the festive season and pent up demand. BFSI sector has delivered strong earnings with large private banks indicating lower than expected stress on their loan books. Healthcare sector has also delivered double digit returns in this quarter. After many years, analysts are finally considering a positive upgrade in Nifty50 earnings.”
Besides, the note expects an extended period of low yields on the back of RBI’s maintenance of its accommodative stance while emphasising the importance of economic growth over inflation.
“Relaxation of the prevailing inflation targeting mechanism is also being discussed with the Govt… It would be prudent to follow a barbell portfolio approach.”
“Gold should continue to remain part of portfolio allocation, predominantly as a hedge against heightened volatility.”
India’s current account surplus moderated to $15.5 billion in Q2FY21 from $19.2 billion reported for the first quarter of the current fiscal.
On a YoY basis, the country’s Balance of Payment status was in a deficit of $7.6 billion during Q2FY20.
“The narrowing of the current account surplus in Q2 of 2020-21 was on account of a rise in the merchandise trade deficit to $14.8 billion from $10.8 billion in the preceding quarter,” the RBI said in a statement on developments in India’s Q2FY21 BoP.
However, the data showed an increase in net services’ receipts both sequentially and on a YoY basis, primarily on the back of higher net earnings from computer services.
“Private transfer receipts, mainly representing remittances by Indians employed overseas, declined on a y-o-y basis but improved sequentially by 12 per cent to $20.4 billion in Q2 2020-21.”
“Net outgo from the primary income account, primarily reflecting net overseas investment income payments, increased to $9.3 billion from $8.8 billion a year ago.”
In terms of financial account, the data pointed out an inflow in net foreign direct investment of $24.6 billion as compared with $7.3 billion in Q2 of 2019-20.
“Net foreign portfolio investment was $7 billion as compared with $2.5 billion in Q2 of 2019-20, largely reflecting net purchases in the equity market.”
“With repayments exceeding fresh disbursals, external commercial borrowings to India recorded net outflow of $4.1 billion in Q2 of 2020-21 as against an inflow of $3.1 billion a year ago.”
Besides, the data cited a moderation in net accretions to non-resident deposits to $1.9 billion from $2.3 billion in Q2 of 2019-20.
“There was an accretion of $31.6 billion to the foreign exchange reserves (on a BoP basis) as compared with that of $5.1 billion in Q2 of 2019-20.”
ICRA’s Principal Economist Aditi Nayar said: “India’s current account surplus remained robust in Q2 FY2021, despite the entirely expected moderation from the level recorded in the lockdown quarter, given the rise in imports in tune with the resumption in economic activities.”
“The emergence of logistical challenges, and fresh restrictions that have been imposed in some major trading partners to ward off rising Covid-19 infections, have interrupted the improvement in exports in Q3 FY2021. We expect a tempered revival in exports in Q4 FY2021, that would remain prone to hiccups related to Covid-related restrictions in the trading partners.”
Prime Minister Narendra Modi and Pakistan Prime Minister Imran Khan
Renowned Albanian historian Dr. Olsi Jazexhi says India Pakistan must become friends to fight Chinese Expansionism …. Interview by Nadir Ali Wani
Dr. Olsi Jazexhi
Albanian Historian Dr. OlsiJazexhi said that India and Pakistan must forget their past differences and become friends, so as to fight Chinese Imperialism.
“Because after all Indians and Pakistanis are the same people the only difference is some are Muslims, and some are Hindus,” the renowned historian said in an exclusive interview. “They come from the same origin and moreover, you are Indo Europeans and you are different from Chinese in every aspect.
“In my opinion instead of spending money and time fighting on each other they should build economic bridges,” he added. “Pakistan and India have been historically together. They should come again together today.”
Prime Minister Narendra Modi and Pakistan Prime Minister Imran Khan
“Believe me if the Chinese will one day annex Pakistan and parts of India, they will do the same thing as what they are doing to the Uighurs in China. They are very intolerant and they do not tolerate religion. They don’t tolerate other cultures too. If the Chinese imperialism captures Pakistan and India, there will be no Muslims and Hindus anymore. The Chinese will send both countries to concentration camps and enforce you to speak Chinese.”
Dr Olsi jazexhi was invited by Chinese authorities as a part of a delegation of journalists to showcase their re-education camps in Xinjiang province. This is how he managed to gain access to two vocational training centers in the city of Exudate and another in Kashgar. The historian has returned from a sponsored trip to Xinxiang province of China where he visited the local Uighur people.
He visited the Chinese re-education camps set up for the Uighur people.
Chinese President Xi Jinping
“The Uighurs are not allowed to practice their religion, nor allowed to observe their faith in that country and if one grows a beard in China one is not allowed access to social media,” said Dr Olsi.
He noted that there is no difference between Taliban, Al-Qaida. and the Chinese authorities. The radical Islamist Organisations either kill their opponents or forcibly convert them into Islam. China uses the same approach to de-Islamize Uighurs. China is brainwashing, jailing, and de-Islamising the Muslims in Xinjiang while simultaneously colonizing Xinjiang by settling Han Chinese colonists who are being brought from other regions of China in order to change the demography of the Muslim majority province of China.
The Chinese are advancing their imperialistic advance through the Himalayas and Central Asia. They are trying to rebuild the silk road and to penetrate through these roads. The Chinese had not been very successful like the Ancient Greeks who built colonies throughout the sea. They are not as good in the sea as they are good on land. It is in this context that Xinjiang is at the heart of a big clash between two imperialisms Anglo Imperialism on one hand and Chinese Imperialism on the other. India, Pakistan, Taliban, are just secondary players in this contest.
Finally, he requested the Indian government to take some Uyghur refuges and to host them in India as it does with Tibetans and Afghans. By doing so Indians are going to win hearts and minds of people of Muslims of the world.”
(Nadir Ali Wani is Director of Center for Peace and Justice, a research group based in Srinagar)
Legendary music director Shantanu Mohapatra passed away at a private hospital here on Tuesday night. He was 84.
Mohapatra was suffering from acute pneumonia and other old-age related ailment, informed family sources.
Mohapatra has been associated with Odia music industry for almost 60 years. He has many firsts to his credits in the field of Odia music as a music composer.
He composed the first Modern Odia ballad “Konark Gatha” with lyricist Gurukrushna Goswami and sung by Akshay Mohanty.
He also worked with several Bollywood artists like Lata Mangeshkar, Mohd Rafi, Manna Dey, Usha Mangeshkar, Suresh Wadekar, Anuradha Paudwal, Usha Uthup, and Kavita Krishnamurthy.
Born in Mayurbhanj district in 1936, the legendary music director was a geophysicist (an IIT-Kharagpur alumnus) and worked with Odisha Mining Corporation.
Odisha Governor Prof Ganeshi Lal and Chief Minister Naveen Patnaik expressed their condolence on the demise of Mohapatra. Andhra Pradesh Governor Biswabhusan Harichandan also condoled the death of the music composer.
“As a lyricist and music director, he has left the shining signature of his talent. His entire life was dedicated to music. The music directed by him will keep him immortal forever,” said the Chief Minister.
The last rites of Mohapatra will be performed with full state honour.
Rajini To Remain In Films; Modi Stresses on Infra Development; Top Emerging Tech of 2020; Kabul urges Pak not to allow territory for Taliban; Iran calls for exit of foreign forces – all in India Daily Digital – please click here to read.
Reserve Bank of India Governor Shaktikanta Das (Photo: IANS)
India’s inflation target should be maintained at 4 per cent in the medium term, according to a working paper by the Reserve Bank of India (RBI).
The paper, published by the RBI’s Department of Economic and Policy Research, noted that central to monetary policy is the concept of ‘Trend Inflation’ to which actual inflation outcomes are expected to converge after short-run fluctuations die out.
Accordingly, the inflation target needs to be fixed in alignment with trend inflation to avoid unhinging inflation expectations and flattening the aggregate supply curve or imparting a deflationary bias to the economy.
“Results from a regime switching model applied to a ‘hybrid New Keynesian Philips’ curve suggest a steady decline in trend inflation since 2014 to 4.1-4.3 per cent just before Covid-19 struck. This points to maintaining the inflation target at 4 per cent for India,” the paper authored by Harendra Kumar Behera and Michael Debabrata Patra of RBI.
The paper added the decline in trend inflation since 2014 is, however, coincident with a flattening of the ‘Philips Curve’.
Reserve Bank Of India
Trend inflation provides key insights for monetary policy committee in at least three important ways.
The Phillips curve is an economic concept that shows that inflation and unemployment have a stable and inverse relationship.
“First, the level and variability of trend inflation indicate how anchored inflation expectations are. Second, it is a valuable gauge of the appropriateness of the monetary policy stance and the necessity or otherwise of additional monetary policy actions to achieve steady state inflation,” it said.
Third, trend inflation provides a centering point for the evaluation of inflation forecasts over various time periods and, this in turn, can usefully inform the setting of monetary policy.
Tesla CEO Elon Musk who earlier said that the process to bring Tesla cars to India will begin in January 2021, has now refused to give any fixed timeline when his electric cars will arrive in the country.
Responding to a follower who asked about get an update on whether Tesla India is still happening in January 2021, Musk said: “No, but definitely this year”.
In October, Musk said the electric car maker is finally ready to enter the India market next year. Reacting to a tweet by Tesla Club India, Musk said: “Will release order configurator probably in Jan.”
On the other hand, in an interview with The Indian Express on Tuesday, Union Road Transport and Highways Minister Nitin Gadkari said Tesla will begin operations will sales in early 2021 and then “maybe” look at assembling and manufacturing vehicles in the country.
Tesla CEO Elon Musk. (File photo: IANS)
However, whether Musk will announce a Tesla plant in India to push Prime Minister Narendra Modi’s domestic manufacturing dream or source them from other facilities (Gigafactory in Shanghai, China is the nearest one) is not yet clear.
Tesla sales teams are currently working on building custom sales and production orders for the India market, ensuring orders are complete and validated once the configuration is finished.
The move will also open India to select as one of the countries where Tesla cars can be purchased.
On several occasions earlier, Musk had revealed that he would like to bring Tesla to India, but in a 2018 Twitter post, he cited “some challenging government regulations” as a hurdle.
He also criticised the foreign direct investment norms for the delay in the electric car maker’s entry into the Indian market.
“Would love to be in India. Some challenging government regulations, unfortunately,” Musk had tweeted in response to a Twitter user who wrote “No Tesla in India” on his Twitter handle
.In July this year, he hinted at allowing Tesla’s Indian fans to drive an electric Model 3 “hopefully soon”.
The Tesla’s entry comes at a time when India is ramping up charging infrastructure for electric vehicles with the aim of significantly increasing the proportion of electric vehicles plying on the roads.
In 2015, Modi visited Tesla headquarters at Palo Alto, California and met Musk who gave Modi a tour of the company’s electric car plant.
Tesla has not launched any of its electric cars in India or any other country in South Asia yet. The only Asian market where Tesla has a presence is China.
