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New Delhi, January 29, 2025

The Beating Retreat ceremony is underway at the historic Vijay Chowk in New Delhi. President Droupadi Murmu, Vice-President Jagdeep Dhankhar, Prime Minister Narendra Modi, Defence Minister Rajnath Singh, Lok Sabha Speaker Om Birla and other Union Ministers are present on the occasion. 

As the golden hues of the setting sun bathed Raisina Hills, the majestic Vijay Chowk transformed into a mesmerizing symphony of Indian melodies, marking the grand conclusion of the 76th Republic Day celebrations. The Beating Retreat ceremony, a tradition that resonates with the soul of the nation, once again captivated the audience with its enthralling musical extravaganza.

With the nation’s top dignitaries—President Droupadi Murmu, Vice President Jagdeep Dhankhar, Prime Minister Narendra Modi, Defence Minister Rajnath Singh, and other Union Ministers—gracing the event, the atmosphere was charged with patriotic fervor. Senior officers, distinguished guests, and enthusiastic citizens stood witness to a spectacle that seamlessly blended tradition, discipline, and musical brilliance.

A Soul-Stirring Musical Journey

This year’s Beating Retreat featured an awe-inspiring selection of 30 powerful Indian compositions, performed by the bands of the Indian Army, Indian Navy, Indian Air Force, and Central Armed Police Forces (CAPF). The evening commenced with the rousing beats of “Kadam Kadam Badaye Ja” by the Mass Band, setting the tone for an evening of musical splendor.

The Pipes and Drums Band took the stage next, weaving magic through tunes like “Amar Bharti,” “Indradhanush,” “Jai Janam Bhoomi,” “Nati in Himalayan Valley,” “Ganga Jamuna,” and “Veer Siachen.” These melodies, rooted in the diverse musical heritage of India, evoked a deep sense of national pride.

The CAPF Band followed suit, delivering dynamic renditions of “Vijay Bharat,” “Rajasthan Troops,” “Ae Watan Tere Liye,” and “Bharat Ke Jawan.” Each note echoed the valiant spirit of India’s armed forces, saluting their undying courage.

The Indian Air Force Band enthralled the audience with “Galaxy Rider,” “Stride,” “Rubaru,” and “Millennium Flight Fantasy,” while the Navy Band added its signature nautical essence with compositions like “Rashtriya Pratham,” “Nishak Nishpad,” “Atmanirbhar Bharat,” “Spread the Light of Freedom,” “Rhythm of the Reef,” and “Jai Bharti.”

Not to be outdone, the Army Band showcased an electrifying performance with “Veer Saput,” “Takta Watan,” “Mera Yuva Bharat,” “Dhruva,” and “Faulad Ka Jigar.” Their music resonated with a deep sense of valor and determination, embodying the strength of India’s forces.

As the evening approached its grand finale, the Mass Bands brought together the nation in harmony with moving performances of “Priyam Bharatam,” “Ae Mere Watan Ke Logo,” and “Drummers Call.” And then, in a moment of sheer nostalgia and pride, the timeless classic “Saare Jahan Se Achcha” rang through the air, played by the buglers, sealing the event with an emotion that words could scarcely capture.

Masters Behind the Melodies

The evening’s seamless orchestration was led by Principal Conductor Manoj Sebastian, ensuring each note struck a chord with the audience. The Army Band was directed by Subedar Major (Honorary Captain) Bishan Bahadur, while the Navy and Air Force Bands were conducted by MCPO MUS II M. Antony and Warrant Officer Ashok Kumar, respectively.

Adding to the grandeur, the Pipes and Drums Band played under the adept leadership of Subedar Major Abhilash Singh, while the buglers, whose calls echoed through the night sky, performed under the command of Naib Subedar Bhupal Singh.

A Tribute Etched in Time

More than just a ceremonial event, the Beating Retreat 2025 was a profound tribute to the rich musical legacy of India’s armed forces. It was a night where patriotism found its voice in the rhythm of the drums, the melody of the pipes, and the harmony of the brass. As the final notes of “Saare Jahan Se Achcha” faded into the crisp night air, one thing was certain—this was not just a musical evening but a moment of unity, pride, and an unbreakable bond with the motherland.

With hearts swelling with patriotism and spirits lifted by the music, the audience departed with memories of an evening where music spoke louder than words—an evening where India’s strength, tradition, and harmony found their purest expression through sound.

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The Union Budget 2025, set to be presented by Finance Minister Nirmala Sitharaman on February 1, 2025, will mark her eighth consecutive budget presentation, surpassing Morarji Desai’s record. As the second full budget of Modi 3.0, this fiscal blueprint is expected to focus on income tax reforms, agriculture, job creation, electric vehicles, and digital innovation while balancing fiscal consolidation and economic growth.

Income Tax Reforms and Economic Growth

The government may phase out the old tax regime and introduce a zero-income tax slab for individuals earning up to ₹10 lakh annually. Such measures would boost disposable income and stimulate household consumption, a key driver of India’s GDP. Additionally, rationalizing GST on financial services and simplifying compliance frameworks for digital lending and fintech partnerships are anticipated.

Agriculture and Rural Development

Given the significance of the agricultural sector, increased budgetary allocations for rural infrastructure, irrigation projects, and subsidies on agri-tech innovations are likely. Policies aimed at supporting farmers through direct benefit transfers and enhanced minimum support prices (MSPs) may also be introduced.

Healthcare and Pharmaceuticals

Industry leaders anticipate incentives for domestic Active Pharmaceutical Ingredient (API) and biosimilar production to reduce import dependency. Strengthening public-private partnerships, enhancing regulatory frameworks, and investing in digital health initiatives like Ayushman Bharat Digital Mission (ABDM) are also on the agenda.

Employment and Labour Reforms

To boost job creation, the budget may focus on labor law reforms, skilling initiatives, and incentives for companies expanding their workforce. Simplifying labor codes is expected to enhance ease of doing business and encourage employment generation across key sectors.

Electric Vehicles and Sustainable Mobility

The EV industry expects increased investments in charging infrastructure and incentives for electric two-wheelers and commercial fleets. The government’s continued focus on green energy and sustainable mobility is expected to accelerate EV adoption across India.

IT, AI, and Digital Innovation

The IT sector, projected to reach $210 billion in exports by 2025, seeks tax incentives for Global Capability Centers (GCCs), easing business regulations, and promoting emerging technologies such as AI, blockchain, and quantum computing. Incentives for research and development in tech-driven sectors could accelerate innovation and job creation.

Real Estate and Urban Development

The real estate industry anticipates reduced home loan interest rates and increased tax deductions on housing loans. Policies supporting smart city infrastructure, green building practices, and streamlined project approvals could stimulate demand, especially in luxury and mid-income housing.

Infrastructure and Manufacturing Growth

With a focus on capital expenditure, the budget is expected to enhance investments in roads, railways, and renewable energy. Tax incentives for manufacturing, particularly in semiconductors and electronics, could align with India’s self-reliance goals.

Union Budget 2025 is poised to be a milestone in India’s economic trajectory, addressing income tax reforms, employment generation, and sectoral growth. The government’s ability to balance fiscal prudence with stimulus measures will be key to driving sustainable development and economic resilience.

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The global tech landscape experienced a seismic jolt as China’s DeepSeek, a startup based in Hangzhou, unveiled its groundbreaking generative AI model. Developed at a fraction of the cost incurred by its U.S. competitors, the Chinese chatbot has emerged as a potential game-changer in the AI race, shaking up markets and sending ripples across the tech industry.

DeepSeek’s Disruptive Impact

DeepSeek’s chatbot, a testament to China’s rising AI prowess, has captured attention worldwide. With an R&D budget of just $5.6 million, the startup’s innovation challenges the notion that only hefty investments can yield high-performing AI models. The chatbot’s success, highlighted by its ranking as the top-rated free app on Apple’s U.S. App Store, starkly contrasts with the billions poured into AI development by American giants.

This bold achievement has raised a critical question: can China outperform the U.S. in the AI arms race by delivering cost-effective, high-quality solutions?

Tech Stocks Tumble as Nvidia Takes a Hit

The market’s reaction was swift and brutal. Nvidia, whose semiconductors are a linchpin of the AI industry, witnessed a 17% plunge in its stock price, erasing nearly $600 billion from its market value. The fallout wasn’t limited to Nvidia. Broadcom shares also nosedived 17.4%, while Dutch semiconductor equipment manufacturer ASML saw its stock drop 6.7%. Constellation Energy, a key player in energy infrastructure for AI, experienced a staggering 20% decline.

The tech-heavy Nasdaq shed over 3%, while the broader S&P 500 dipped 1.5%. Even European markets felt the tremors, with Frankfurt and Paris indices closing in the red.

Market Skepticism Amid Cyber Threats

While DeepSeek’s emergence has caused a stir, skepticism lingers. Experts question the startup’s claims and the scalability of its technology. “Everyone is trying to figure out, ‘Can it be believed?’ and ‘What does it mean?’” noted Art Hogan, Chief Market Strategist at B. Riley Wealth.

Adding to the turbulence, DeepSeek reported large-scale cyberattacks on its systems, forcing it to limit new user registrations. This development underscores the challenges of navigating global tech competition in an increasingly volatile cyber landscape.

US-China Rivalry Intensifies

Kathleen Brooks, Research Director at XTB, emphasized the geopolitical undercurrents of this tech upheaval. “US tech dominance is being challenged by China,” she observed. The spotlight is now on whether China’s AI advancements can sustain their momentum and deliver transformative results faster and more affordably than their Western counterparts.

This disruption arrives as the U.S. grapples with its AI strategy. Just last week, former President Donald Trump announced a $500 billion initiative to bolster AI infrastructure, a partnership between SoftBank and OpenAI. However, the emergence of DeepSeek serves as a wake-up call, forcing policymakers and industry leaders to rethink their approach.

Broader Economic Context

The turbulence in tech markets coincides with key economic developments, including upcoming interest rate decisions from the Federal Reserve and the European Central Bank. Investors are also bracing for U.S. inflation data, which could further sway market sentiment.

Global stock markets painted a mixed picture. In Asia, Hong Kong’s Hang Seng Index gained 0.7%, while Tokyo’s Nikkei 225 fell 0.9%. Brent crude oil prices dipped 1.8% to $77.08 per barrel, reflecting broader market caution.

What Lies Ahead?

DeepSeek’s rise signals a new chapter in the global AI race, where cost-efficiency and innovation are poised to disrupt traditional hierarchies. As the dust settles, the world will closely watch how U.S. tech giants and policymakers respond to this unprecedented challenge.

In the short term, market volatility may persist as stakeholders assess the long-term implications of China’s bold foray into generative AI. One thing is clear: the race to AI supremacy is heating up, and the stakes have never been higher.

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As the Union Budget 2025 draws near, the nation eagerly anticipates measures to address India’s slowing economic momentum and the concerns of market participants. Once a beacon of growth among emerging economies, India now faces challenges that require a fine balance between fiscal prudence and growth-oriented reforms.

The Economic Backdrop: From Confidence to Caution
A year ago, optimism surrounded India’s economic trajectory. Growth indicators were robust, and investor confidence soared. However, the narrative has shifted. While growth remains relatively high globally, it has slowed to levels not seen since the pandemic. Skepticism over official growth numbers and the impact of past fiscal measures further complicate the scenario.

One key area of concern is the capital gains tax regime, which has taken center stage in pre-budget discussions. Investors and experts alike are calling for rationalization to revive market liquidity and restore confidence.

The Capital Gains Tax Conundrum
Capital gains tax, levied on profits from assets like equities, real estate, and mutual funds, has been a critical revenue source. Last year’s budget saw significant hikes in short-term and long-term capital gains taxes, adversely affecting market liquidity and investor sentiment.

  • Short-term capital gains tax: Increased from 15% to 20% for equities held less than a year.
  • Long-term capital gains tax: Raised from 10% to 12.5% for equities held over a year.

These changes, coupled with higher Securities Transaction Tax (STT) rates, have curtailed market activity. Daily turnover in currency derivatives, for instance, plummeted from ₹40,000 crore to ₹5,000 crore. Similarly, liquidity in equity derivatives dropped by 30-40%.

Industry Voices: Expectations and Recommendations

  1. Jimeet Modi: The founder of SAMCO Securities emphasizes restoring liquidity in the currency derivatives market as a priority. He advocates rationalizing STT rates to encourage higher market participation, acknowledging potential short-term revenue losses but highlighting the long-term benefits.
  2. Alekh Yadav: The Head of Investment Products at Sanctum Wealth predicts a continuation of fiscal consolidation policies. He expects minor adjustments in capital gains tax and measures to boost consumption rather than significant capital expenditure growth.
  3. Pranav Haridasan: The MD and CEO of Axis Securities suggests simplifying capital gains tax to enhance compliance and participation. While rumors of an STT cut persist, he anticipates targeted relief for individual taxpayers, such as enhanced deductions under Section 80C.
  4. Narinder Wadhwa: The CEO of SKI Capital underscores the need for a stable tax regime. He warns against further increases in STT or LTCG taxes, as they could deter retail and foreign investors.
  5. Rajul Kothari: A partner at Capital League, Kothari highlights the unintended consequences of taxing debt funds on par with fixed deposits. He calls for LTCG tax exemptions for retirees, arguing that this would provide them with secure, low-risk investment options.

What Lies Ahead?
The 2025 Union Budget presents an opportunity for the government to address investor concerns, stabilize the tax regime, and restore market momentum. Key expectations include:

  • Rationalizing capital gains tax for simplicity and market revival.
  • Targeted tax relief for individuals to boost consumption.
  • Revisiting STT rates to improve liquidity in derivatives markets.
  • Exempting LTCG taxes for senior investors to promote secure investment avenues.

Reviving the India Growth Story
Restoring economic momentum will require bold yet balanced measures. The 2025 Union Budget has the potential to rebuild confidence and reinvigorate the India growth story. By prioritizing investor-friendly policies and addressing structural challenges, the government can ensure that India continues to shine as a beacon of growth on the global stage.

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On Sunday, January 26, 2025, India celebrated its 76th Republic Day with grandeur, marking the anniversary of the adoption of its Constitution in 1950. The celebrations took center stage in the nation’s capital, New Delhi, as Rajpath Avenue—renamed Kartavayapath—hosted a vibrant parade showcasing India’s military prowess and rich cultural heritage.

A Guest of Honor and Historic Ties
Indonesian President Prabowo Subianto graced the occasion as the chief guest, highlighting the historical and diplomatic ties between the two nations. This marked a symbolic moment, as Indonesia’s first president, Sukarno, was the honored guest during India’s inaugural Republic Day celebration in 1950. The inclusion of a 342-member band and marching contingent from the Indonesian National Armed Forces added a unique and international flair to the event.

Military Might and Cultural Extravaganza
The parade began with precision as soldiers from India’s armed and paramilitary forces marched down the boulevard, accompanied by their bands. Tanks, missile systems, and domestically built defense equipment were showcased, reflecting India’s strides in military self-reliance.

The cultural segment brought the essence of India to life. Over 5,000 artists from across the country performed over 40 traditional dances in a 10-minute display of diversity. A float representing the Maha Kumbh festival captivated audiences, emphasizing the spiritual and cultural vibrancy of India.

The event concluded with a breathtaking fly-past by the Indian Air Force, featuring Rafale jets, helicopters, and transport planes soaring through the skies in perfect formation.

Celebrations Across the Nation
While the main event unfolded in New Delhi, Republic Day parades took place in state capitals and cities nationwide. In Srinagar, the capital of Jammu and Kashmir, heightened security marked the celebrations. Despite the cold and the ongoing political tensions, hundreds gathered to witness the spectacle, reflecting the resilience and unity of the people.

A Legacy of Tradition and Progress
India’s Republic Day celebrations continue to symbolize its journey from colonial rule to becoming a vibrant democracy. By blending modern advancements with cultural traditions, the event underscores the nation’s unity in diversity.

As the tricolor unfurled and the air reverberated with patriotic fervor, the 76th Republic Day reminded the world of India’s enduring spirit, its rich heritage, and its commitment to progress.

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On January 26, 2025, India will proudly celebrate its 76th Republic Day, a day etched in the heart of every citizen as a symbol of freedom, democracy, and unity. This historic occasion marks the adoption of the Constitution of India, a document that laid the foundation of the world’s largest democracy and continues to guide its vibrant journey.


Honoring the Spirit of Democracy

Republic Day isn’t just a date on the calendar; it is a celebration of India’s unwavering commitment to democratic values. It is a time to reflect on the vision of our founding leaders and the sacrifices of countless freedom fighters who dreamed of an independent and inclusive India. Their legacy inspires us to uphold the principles of justice, liberty, equality, and fraternity that the Constitution enshrines.


Republic Day 2025: A Grand Spectacle of Pride and Patriotism

The grandeur of Republic Day celebrations in New Delhi will take center stage, with Rajpath (now Kartavya Path) transformed into a hub of patriotism and pride. This year’s theme, “Strength in Diversity, Progress through Unity,” perfectly encapsulates the spirit of a nation marching forward while embracing its myriad cultures, languages, and traditions.

  • The Parade:
    The Republic Day parade remains a highlight of the festivities, showcasing the might of the armed forces and the cultural richness of the Indian states. From mesmerizing folk dances to intricate tableaux, each segment reflects the country’s unity in diversity.
  • Guest of Honor:
    Continuing the tradition of inviting global leaders, the chief guest for Republic Day 2025 is expected to be a prominent international figure, symbolizing India’s growing influence on the global stage.
  • Aerial Display:
    The Indian Air Force’s breathtaking flypast will captivate the audience, with fighter jets and helicopters painting the sky in the vibrant hues of the tricolor.

A Nation Moving Forward

Republic Day 2025 will also serve as a platform to highlight India’s achievements over the past year. From advancements in technology and infrastructure to strides in sustainability and education, the celebrations will reflect a nation that honors its past while boldly shaping its future.

Programs like Digital India 2.0 and the ongoing mission to achieve net-zero emissions by 2070 underscore the country’s commitment to progress and sustainability. The parade will likely feature floats celebrating milestones in these areas, inspiring citizens to contribute to a brighter future.


Celebrations Across the Country

While the main event in New Delhi garners national attention, Republic Day is celebrated with equal enthusiasm across India. Schools, colleges, and communities organize flag hoisting ceremonies, cultural programs, and discussions to educate the younger generation about the significance of the day.

The tricolor, fluttering atop homes and public spaces, serves as a powerful reminder of the unity that binds 1.4 billion people together.


The Way Forward

As we celebrate Republic Day 2025, it’s vital to remember that the journey of a republic is one of collective effort. Upholding the ideals of our Constitution requires each of us to contribute—whether through active citizenship, innovation, or compassion for our fellow citizens.

Republic Day is not just a day of celebration; it’s a day of reflection. It reminds us that while we’ve come far as a nation, there’s still much to achieve. By embracing unity and working together, India can continue to shine as a beacon of democracy and progress on the global stage.

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As India gears up to commemorate its 76th Republic Day on January 26, 2025, the nation’s capital, Delhi, is being fortified with extensive security arrangements. With over 70 units of paramilitary forces and 15,000 police personnel deployed, the city is leaving no stone unturned to ensure a seamless and secure celebration.

Cutting-Edge Surveillance and Cyber Preparedness
Delhi’s security strategy boasts a robust framework integrating drones, Facial Recognition Systems (FRS), and Artificial Intelligence-enabled high-resolution cameras. Surveillance efforts have been augmented with thousands of CCTV cameras, many equipped with FRS capabilities, linked to a comprehensive database to instantly identify potential threats. Mobile vehicles outfitted with FRS systems will further enhance real-time monitoring.

A senior officer emphasized, “We have implemented six-layered security checks, including multi-layered barricading and advanced frisking systems. These efforts are complemented by mock drills in coordination with multiple security agencies to prepare for any eventuality.”

Rooftop Vigilance and Crowd Management
To secure critical areas, approximately 4,000 rooftop vantage points have been identified across New Delhi, Central Delhi, and North Delhi. Officers from the New Delhi, Central, and North districts have conducted meticulous route surveys, anti-sabotage inspections, and heightened patrols in high-footfall areas.

Attendees of the grand parade will receive specially designed security stickers, reinforcing access control measures along the route.

Enhanced Coordination Across Stakeholders
In preparation for the massive influx of attendees, a special meeting was held with the security teams of hotels, malls, and public venues. These discussions focused on ensuring readiness and bolstering collaboration across sectors.

Delhi Stands Ready
Republic Day 2025 promises to be a showcase of India’s strength, unity, and progress. With state-of-the-art security arrangements, the authorities aim to provide a safe environment for citizens and dignitaries alike to celebrate the spirit of the nation.

The synergy of advanced technology and human vigilance underscores Delhi’s commitment to upholding its legacy of secure and magnificent celebrations. Let the tricolor unfurl with pride as the country watches, knowing the capital is well-prepared for this historic day.

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As Budget 2025 looms closer, anticipation is high, especially for salaried taxpayers hoping for much-needed relief amid rising living costs and an economic slowdown. While the new income tax regime boasts simplified structures and better rates, experts suggest it still lacks certain elements that could make it a game-changer for taxpayers and the economy alike.


Tax Relief: A Catalyst for Consumption and Growth

India’s GDP growth has hit a slowdown in Q2, and experts argue that putting more money in taxpayers’ hands is the fastest route to boosting consumption. This, in turn, could help rejuvenate the nation’s economic momentum.

Sandeep Agrawal, Founder and Director of Teamlease Regtech, explains:

“With India losing its growth momentum in Q2, the Budget aims to address emerging economic challenges. Revising tax slabs, particularly offering benefits for individuals earning up to ₹15 lakh annually, could provide relief to millions of middle-class taxpayers.”

Reports suggest that the upcoming Budget might introduce significant changes, including making annual income up to ₹10 lakh tax-free. Additionally, a new 25% tax slab for incomes between ₹15–20 lakh could be announced. These measures, if implemented, would enhance the appeal of the new tax regime while stimulating spending and growth.


Balancing Simplicity with Flexibility

While the new tax regime eliminates the complexity of the old system by removing most deductions and exemptions, critics believe this simplicity comes at the cost of incentives for long-term savings and retirement planning.

Swapnil Aggarwal, Director at VSRK Capital, emphasizes the need for a middle ground:

“The new regime could benefit from incorporating features of the older system, such as deductions for retirement funds and incentivizing long-term savings. This would combine simplicity with flexibility, aligning with wider goals of taxpayer relief, community security, and sustainable investments.”

Aggarwal further highlights how such changes could integrate the benefits of both systems:

“Such a makeover will raise confidence among investors, widen tax incentives, and promote a holistic development approach as reflected in the priorities of the Budget.”


What’s Missing in the Current Framework?

Although the new regime’s lower tax rates are attractive, its lack of deductions for essential expenses like housing loans, education, and medical insurance has deterred many taxpayers from switching over. Experts argue that incorporating some of these exemptions could strike the perfect balance between simplicity and inclusivity.

Additionally, incentivizing retirement savings through tax benefits could encourage more responsible financial behavior while fostering economic stability.


The Way Forward

If the proposed changes in Budget 2025—such as tax-free income up to ₹10 lakh and a 25% slab for incomes between ₹15–20 lakh—become a reality, they could mark a turning point for the new regime. Coupled with strategic incentives for savings and investments, these measures could enhance the regime’s appeal, benefiting taxpayers and driving holistic economic growth.

As the government prepares to unveil its budget, taxpayers and experts alike are watching closely, hoping for a fiscal plan that balances simplicity, relief, and long-term security.

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As Donald Trump embarks on his second term as President of the United States, global financial markets are already responding to the anticipated policy shifts. On Tuesday morning, the Indian stock markets opened on a positive note, with both the Nifty 50 and BSE Sensex registering early gains amid expectations of aggressive executive action in the U.S.

The Nifty 50 index climbed 76.90 points or 0.33%, opening at 23,421.65, while the BSE Sensex surged 188.28 points or 0.24% to start the day at 77,261.72.

Markets React to Trump’s Bold Start

The optimism in the market stems from the flurry of executive orders signed by Trump on his first day back in the Oval Office. Analysts believe the new administration’s focus on areas such as tariffs, immigration, tax cuts, deregulation, energy security, and the Department of Government Efficiency (DOGE) could have a significant impact on the global economy.

Ajay Bagga, a seasoned banking and market expert, explained the sentiment to ANI:

“Trump 2.0 is here. More experienced, more determined, and armed with a barrage of Day 1 executive orders. As the Trump Cabinet gets approved, many of these policies will translate into actionable measures on the ground.”

Bagga also highlighted the immediate market implications:

“US dollar, bond yields, global markets, and commodities are already adjusting to the Trump Impact. Indian markets are relieved, for now, that no universal tariffs have been announced.”

Sectoral Performance: Metal and PSU Banks Lead the Charge

All sectoral indices on the NSE opened in positive territory, with Nifty Metal and Nifty PSU Bank leading the gains, both up by 0.5%. Nifty IT also posted modest growth of 0.23%.

In the Nifty 50 list, 37 stocks opened in the green. Ultratech Cement, Apollo Hospitals, BPCL, and Wipro emerged as the top gainers, while Trent, Adani Enterprises, Kotak Bank, and NTPC were the leading losers.

Quarterly Earnings in Focus

As investors digest the Trump administration’s early moves, attention will also be on the Q3 earnings announcements for FY25. Key companies scheduled to release their results include UCO Bank, KEI Industries, Tata Technologies, Dalmia Bharat, PNB Housing Finance, Aditya Birla Real Estate, Indiamart Intermesh, and India Cements.

Global Market Trends

In other Asian markets, the Nikkei 225 surged by 1.16%, and Hong Kong’s Hang Seng index jumped 1.72%. Taiwan’s Weighted Index also recorded gains of 0.51%. However, Singapore’s Straits Times and South Korea’s KOSPI indices faced minor declines of 0.14%.

What Lies Ahead?

As Trump’s policies take shape, market volatility is expected to remain high. Investors are keeping a close eye on announcements from the U.S. that could impact global trade and economic dynamics.

With optimism in Indian markets and cautious anticipation in global indices, the Trump 2.0 era has started with a noticeable impact on the financial world. Only time will reveal the true extent of these shifts

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Washington, D.C.—On January 20, 2025, President Donald J. Trump wasted no time in making his presence felt during his first day back in the White House. By 9 p.m., the newly sworn-in 47th President had signed an astonishing 80 executive orders, charting a bold and controversial course for his second term. Among the sweeping actions, Trump declared a national emergency at the U.S.-Mexico border, withdrew from the Paris Climate Agreement and the World Health Organization (WHO), and abolished birthright citizenship.

The sheer volume and scope of these orders have reignited discussions about the power of executive orders and their place in the U.S. government.


What Is an Executive Order?

An executive order is a powerful tool wielded by the President to manage the operations of the federal government. According to the American Bar Association, it is a signed, written, and published directive that carries the force of law, much like regulations issued by federal agencies. These orders are consecutively numbered and published in the Federal Register, the official daily record of federal government actions.

The authority to issue executive orders stems from Article II of the U.S. Constitution, which vests the President with executive power. Article II also outlines other presidential powers, such as serving as Commander-in-Chief and granting pardons.

While executive orders are primarily intended to streamline government operations, they can also address significant policy matters. For instance, proclamations—another form of presidential directive—are often used to declare holidays or observances, whereas administrative orders handle internal government operations.


How Do Executive Orders Work?

An executive order may take effect immediately or require time to implement, depending on whether federal agencies need to adopt supporting regulations. For example, in 2022, President Joe Biden issued an order instructing health agencies to protect abortion rights following the overturning of Roe v. Wade. Over subsequent months, regulations were introduced to align with the directive.

However, it’s essential to note that executive orders cannot create new laws. They are limited to executing existing laws and constitutional powers.


Can Executive Orders Be Challenged?

Although executive orders bypass Congressional approval, they are not immune to legal scrutiny. Orders perceived to overstep presidential authority or violate constitutional principles can be challenged in court.

A notable example is Trump’s controversial 2017 travel ban, which initially restricted entry from seven Muslim-majority countries. While portions of the order were blocked by lower courts, the U.S. Supreme Court ultimately upheld it in 2018.

Similarly, one of Trump’s Day 1 orders—establishing the Department of Government Efficiency (DOGE) led by Elon Musk—has already faced immediate lawsuits. Critics argue that the directive, which aims to slash government spending and workforce, could overreach presidential authority. Public interest groups, unions, and watchdog organizations filed legal challenges mere minutes after the announcement.

Congress also has the power to counter executive orders by passing legislation or withholding funds necessary for their implementation. However, such actions are subject to presidential veto, making it a challenging route.


The Historical Use of Executive Orders

Executive orders date back to the 18th century, with early examples issued by George Washington. The first formally numbered executive order came from President Abraham Lincoln in 1862, establishing a provisional court in Louisiana during the Civil War.

Every president except William Henry Harrison has issued executive orders, with Franklin D. Roosevelt holding the record at 3,721 orders during his four terms. Other prolific users include Woodrow Wilson (1,803) and Calvin Coolidge (1,203).


Trump’s Second Term: A Prelude to Controversy

Trump’s flurry of Day 1 actions highlights his intent to shape his presidency with decisive, unilateral measures. Supporters hail his rapid-fire orders as a testament to his leadership and determination to fulfill campaign promises. Critics, however, caution against the potential overreach of executive power, underscoring the need for checks and balances.

As the nation watches, Trump’s use of executive orders will undoubtedly remain a focal point of debate in the months and years ahead.

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