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Modi Initiates Construction of World’s Highest Tunnel in Ladakh

by theparliamentnews.com
written by theparliamentnews.com

Prime Minister Narendra Modi is set to initiate the construction of the Shinku La tunnel in Ladakh, marking a significant step towards enhancing all-weather connectivity from Manali in Himachal Pradesh to Leh via the Nimmu-Padam-Darcha axis. This event, referred to as the “first blast,” will be conducted remotely from the Kargil war memorial in Dras on Friday, where Modi will also pay tribute to Indian soldiers on the 25th anniversary of the Kargil War.

The Shinku La tunnel, situated at an altitude of 15,800 feet, will surpass China’s Mila tunnel (15,590 feet) to become the highest tunnel in the world. Expected to be completed in four years, this 4.1 km-long tunnel will significantly enhance military mobility and logistics support for deployed forces in the Ladakh sector by providing a reliable alternative route. Once operational, the tunnel will reduce the distance between Manali and Leh by 60 km, bringing it down from 355 to 295 km.

The Nimmu-Padam-Darcha road, which will integrate with the tunnel, is already nearing completion, having achieved connectivity between Nimmu and Darcha in March 2024. This road is being blacktopped, and its strategic importance cannot be overstated. It provides a shorter and more reliable route compared to the traditional Manali-Leh and Srinagar-Leh routes, crossing only one high pass at 16,615 feet.

The timing of this development is crucial as the military standoff between India and China in eastern Ladakh continues into its fifth year, with ongoing negotiations aiming to restore the status quo ante of April 2020.

The Border Roads Organisation (BRO), which is spearheading the construction, has significantly improved strategic mobility along the border with China. Over the past three years, BRO has completed 330 projects worth ₹8,737 crore. Additionally, BRO is on the verge of completing a critical project to provide alternative connectivity to Daulat Beg Oldi (DBO), India’s northernmost military base near the Line of Actual Control (LAC).

The new 130-km road from Sasoma in the Nubra Valley to DBO near the Karakoram Pass is nearing completion. This route will serve as an alternative to the existing 255-km Darbuk-Shyok-Daulat Beg Oldi (DS-DBO) road, which runs close to the LAC. The strategic push for improved border infrastructure has been bolstered by increased spending and the adoption of advanced technologies and techniques.

In line with this infrastructure push, the BRO has been allocated a capital outlay of ₹6,500 crore in the defence budget for 2024-25, marking a 30% increase from the previous fiscal year and a 160% increase from FY 2021-22. This substantial investment underscores the government’s commitment to enhancing India’s strategic capabilities and ensuring robust support for military operations in the region.

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BlogFeaturedIndiaIndia Parliament

Finance Minister Announces Price Cuts on Mobile Phones and Precious Metals in Budget 2024

by theparliamentnews.com
written by theparliamentnews.com

In the Union Budget 2024-2025 presented by Finance Minister Nirmala Sitharaman, several key measures have been introduced that will impact the prices of various goods, making some items cheaper and others costlier. This budget, the first of the BJP-led NDA government, aims to shape India’s economic landscape, affecting everything from infrastructure development to social welfare programs.

Cheaper Items

The finance minister announced measures leading to the reduction in prices for mobile phones, gold, silver, and copper. Here’s a detailed list of items that have become cheaper:

  • Mobile Phones and Chargers: Basic Customs Duty reduced to 15%.
  • Gold and Silver: Customs duty reduced to 6%, and platinum to 6.4%.
  • Cancer Treatment Medicines: Three specific medicines exempted from Basic Customs Duty.
  • Solar Panels: Expansion of the list of exempted capital goods used in their manufacturing.
  • E-Commerce: TDS rate reduced from 1% to 0.1%.
  • Ferronickel and Blister Copper: Basic Customs Duty removed.
  • Shrimp and Fish Feed: Customs duty on various inputs exempted or reduced to 5%.
  • Leather and Textile Sectors: BCD on real down filling material reduced to enhance export competitiveness.
  • Ammonium Nitrate: Basic Customs Duty reduced from 7.5% to 10%.
  • Oxygen-Free Copper: Duty removed for the manufacture of resistors.
  • Critical Minerals: Customs duties fully exempted on 25 critical minerals for sectors like nuclear energy, renewable energy, space, defence, telecommunications, and high-tech electronics.

Costlier Items

Conversely, some items will see a price increase due to higher customs duties:

  • Ammonium Nitrate: Customs duty increased to 10%.
  • Non-Biodegradable Plastics: Duty increased to 25%.
  • Telecom Equipment: Specified equipment’s basic customs duty raised to 15% from 10%.
  • High-Value Goods: TCS of 1% on notified goods valued over ₹10 lakh.

Tax Changes

The finance minister also announced several changes to tax deductions:

  • Standard Deduction: Increased from ₹50,000 to ₹75,000 for salaried employees under the new tax regime.
  • Family Pension: Tax deduction increased from ₹15,000 to ₹25,000 for pensioners.

In last year’s budget, there were significant cuts in import taxes on various components, including camera lenses, to promote mobile phone manufacturing in India. The tax rate on lithium-ion batteries, essential for phones and electric vehicles, was also reduced to make manufacturing in India more cost-effective.

The Economic Survey 2024 predicts India’s GDP to grow between 6.5-7% this year, with retail inflation declining to 5.4% during 2023-24 from 6.7% previously. The survey, presented by Finance Minister Nirmala Sitharaman, emphasized ‘Service’ and ‘growth’.

Like recent budgets, Budget 2024 was delivered in a paperless format. An Interim Union Budget 2024 was previously presented on February 1, in anticipation of the general elections.

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BlogFeaturedIndiaSports

Suryakumar Yadav Replaces Hardik Pandya as Captain for Sri Lanka Tour

by theparliamentnews.com
written by theparliamentnews.com

Mumbai, July 21 — In a surprising move, Suryakumar Yadav has been appointed as the captain of the Indian T20 side for the upcoming tour of Sri Lanka, surpassing Mumbai Indians skipper Hardik Pandya. The decision comes amidst Pandya’s personal challenges, including his recent separation from wife Natasa Stankovic after four years of marriage.

Selection Committee’s Concerns

Reports indicate that the selection committee, led by Ajit Agarkar, had reservations about Pandya’s leadership capabilities, feeling that he required ‘handholding’ to excel. A recent PTI report quoted selectors stating, “He needs a bit of handholding and Ashish Nehra did that at GT. Mark Boucher wasn’t that man at MI, and the younger lot in the Indian dressing room seem to respond better to Surya than to Pandya.”

Hardik Pandya’s Leadership Questioned

Despite leading India to their first ICC tournament title in 11 years, Pandya has faced criticism for his international performance, having a 50 percent appearance rate in white-ball formats over the last 19 months. The selectors’ decision underscores a significant vote of ‘no confidence’ in his leadership, pushing Pandya to participate in domestic cricket to secure his place in the Champions Trophy next year. He is expected to play in the Vijay Hazare Trophy for Baroda in December.

Mumbai Indians’ Dilemma

The decision also raises questions about Pandya’s future with the Mumbai Indians (MI), a franchise with significant influence in the IPL. Last year, Pandya replaced the popular Rohit Sharma as MI’s captain under contentious circumstances. With Suryakumar Yadav now captaining the Indian T20 team and being part of MI’s roster, the franchise faces a crucial decision ahead of next year’s mega auction. Retaining both key players will be a challenge, and Pandya’s position as captain is under scrutiny.

Looking Ahead

As Pandya grapples with these professional and personal challenges, the cricketing community will closely watch how he navigates this period. His performance in the domestic circuit will be crucial in determining his future with both the Indian team and Mumbai Indians.

The appointment of Suryakumar Yadav as the new T20 captain marks a significant shift in Indian cricket, signaling a preference for leadership that resonates more effectively with the younger players in the team. As the new captain prepares for the Sri Lanka tour, all eyes will be on how this change impacts the dynamics and performance of the Indian T20 side.

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BlogFeaturedIndiaIndia Parliament

Economic Survey to be Presented in Parliament on Monday, Ahead of Union Budget

by theparliamentnews.com
written by theparliamentnews.com

New Delhi: Finance Minister Nirmala Sitharaman is set to table the Economic Survey in Parliament on July 22, just one day before the Union Budget. This annual document serves as a comprehensive report on the economy’s current state and provides a growth outlook for the future. Prepared by a team led by Chief Economic Adviser V. Anantha Nageswaran, the Economic Survey offers detailed statistical information and analysis on various economic sectors, including employment, GDP growth, inflation, and the budget deficit.

India, maintaining its position as the world’s fastest-growing economy, will present this Economic Survey amidst positive revisions from major financial institutions. The International Monetary Fund (IMF) recently raised its economic growth forecast for India for the fiscal year 2025 to 7 percent, up from the 6.8 percent projected in April.

“The forecast for growth in India has also been revised upward, to 7 percent, this year, reflecting carryover from upward revisions to growth in 2023 and improved prospects for private consumption, particularly in rural areas,” stated the IMF.

Similarly, in June, the Reserve Bank of India (RBI) revised its growth forecast to 7.2 percent from the previous 7 percent. The RBI projects that India is on track to achieve an 8 percent GDP growth trajectory on a sustained basis, driven by structural economic reforms such as the Goods and Services Tax (GST).

RBI Governor Shaktikanta Das noted, “If you look at the average growth India recorded over the three years, the average comes to 8.3 percent, and for the current year, we have projected a 7.2 percent growth.” He also highlighted that the Indian economy contributed 18.5 percent to global growth in the last financial year (2023-24), a significant increase from the lower figures of 7 or 8 years ago. The IMF has projected that this growth will continue to rise.

As India prepares to present the Economic Survey, the country’s economic resilience and growth prospects remain strong, positioning it favorably on the global economic stage.

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BlogFeaturedFestivalIndia

Ashadi Ekadashi 2024: Celebrating the Divine Slumber of Lord Vishnu

by theparliamentnews.com
written by theparliamentnews.com

Ashadi Ekadashi, also known as Devshayani Ekadashi or Padma Ekadashi, is a deeply significant day for Hindus, observed on the eleventh day (Ekadashi) of the waxing fortnight (Shukla Paksha) in the Hindu lunar month of Ashadha (June-July). This year, Ashadi Ekadashi will be celebrated on Wednesday, July 17, 2024.

What is Ashadi Ekadashi?

Ashadi Ekadashi heralds the beginning of Chaturmas, a four-month period during which Lord Vishnu is believed to enter a deep, meditative sleep known as Yog Nidra. During this time, Hindus refrain from undertaking major life events such as weddings, adhering to strict religious observances.

Fasting and Celebration

On Ashadi Ekadashi, devotees of Lord Vishnu engage in a rigorous fast, abstaining from grains, certain vegetables, and other specific foods. The day is dedicated to prayer, meditation, and performing puja (worship rituals), seeking Lord Vishnu’s blessings. The fast is traditionally concluded the next day, on Dwadashi Tithi, during a specific Parana time, which varies by location.

Significance of Ashadi Ekadashi

Ashadi Ekadashi is imbued with profound spiritual significance. Observing the fast is believed to bestow good health, wealth, prosperity, and ultimately, Moksha (liberation). Devotees seek the divine blessings of Lord Vishnu, aiming for a life filled with happiness and prosperity.

The Vrat Katha (Fasting Story)

Hindu mythology recounts that a king once faced a devastating drought that brought great suffering to his kingdom. A wise sage advised the king to observe Ashadi Ekadashi with sincere devotion. Following this guidance, the king diligently fasted and prayed to Lord Vishnu. Pleased with the king’s devotion, Lord Vishnu blessed the kingdom with abundant rains, restoring prosperity and joy.

Ashadi Ekadashi in 2024

  • Date: Wednesday, July 17, 2024
  • Parana Time (Fast Breaking Time): To be determined (Varies based on location; consult your local Panchang for specific timings)
  • Significance: Marks the start of Chaturmas, a period of religious observances. Fasting is believed to bring Lord Vishnu’s blessings.

Ashadi Ekadashi is a revered day for millions of Hindus around the world. Through fasting and adherence to tradition, devotees seek the divine blessings of Lord Vishnu, ensuring a life of happiness, health, and prosperity. This observance underscores the importance of spiritual discipline and devotion in Hindu life.

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BlogEntertainmentFeaturedIndia

Major Milestones Have Been Hit By An Incredible Movie Kalki2898 AD, Rules The Box Office

by theparliamentnews.com
written by theparliamentnews.com

New Delhi, July 7, 2024 — The sci-fi epic Kalki 2898 AD is maintaining its impressive run in theatres, completing two weeks since its release. On its 14th day, the film grossed ₹7.5 crore in India, bringing its total domestic earnings to ₹536.75 crore, according to Sacnilk. The producers, Vyjayanthi Films, announced that the film had crossed ₹900 crore globally by its 11th day. With these figures, Kalki 2898 AD has surpassed the lifetime earnings of Ranbir Kapoor’s Animal, which grossed ₹915 crore worldwide in 2023.

  • Kalki 2898 AD* now ranks as the second-biggest hit for its lead star Prabhas, following SS Rajamouli’s Baahubali 2, which grossed over ₹1788 crore worldwide in 2017. Additionally, it has become the highest-grossing film for veteran actors Amitabh Bachchan and Kamal Haasan.

Despite experiencing a significant drop of over 75% on its second Monday, when it earned ₹10.4 crore, the film has maintained steady collections in single digits. According to Sacnilk, the decline from Tuesday to Wednesday was approximately 14%.

Initially, Kalki 2898 AD garnered most of its revenue from the Telugu version but has now shifted focus to the Hindi market. On its 14th day, the Hindi version contributed ₹4.75 crore, while the Telugu version earned ₹1.7 crore. The Hindi version has grossed ₹229.05 crore, whereas the Telugu version stands at ₹252.1 crore. On Wednesday, the film recorded a Hindi occupancy rate of 13.81% and a Telugu occupancy rate of 18.6%.

  • Kalki 2898 AD* features a dystopian world inspired by Hindu scriptures and is set in the year 2898 AD. The film is directed by Nag Ashwin and stars Prabhas, Amitabh Bachchan, Deepika Padukone, Kamal Haasan, and Disha Patani in lead roles.

This post-apocalyptic film continues to captivate audiences, demonstrating strong staying power at the box office.

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BlogEducation & TechFeaturedIndia

Supreme Court Upholds NEET UG 2024 Counseling Amid Malpractice Allegations

by theparliamentnews.com
written by theparliamentnews.com

New Delhi, July 7, 2024 — In a pivotal decision, the Supreme Court has decided not to halt the NEET UG 2024 counseling process, despite serious allegations of paper leaks and other malpractices. Petitioners had sought the suspension of counseling and a Central Bureau of Investigation (CBI) probe into the alleged irregularities surrounding the examination.

The bench, headed by Chief Justice of India D.Y. Chandrachud, stated that the evidence presented was insufficient to warrant an immediate cessation of the counseling process. The court stressed that emotional appeals, such as those linking NEET results to student suicides in Kota, should not influence judicial decisions.

While the Court did not stop the counseling, it recognized the gravity of the malpractice allegations. A notice was issued to the National Testing Agency (NTA), responsible for conducting NEET, requesting a detailed response within two weeks. The next hearing is scheduled for July 8.

The petitioners argued that the examination’s integrity was compromised, impacting the future prospects of numerous aspirants. They called for a comprehensive investigation to ensure the fairness and transparency of the NEET UG 2024 examination process.

NEET UG is a crucial examination for students aspiring to enter undergraduate medical and dental courses in India. Given the high stakes and the sheer number of candidates—over a million—any hint of malpractice raises significant concerns among students and their families.

The outcome of this case is highly anticipated, as it could have far-reaching implications for medical education in India. The NTA’s response to the Supreme Court will be pivotal in determining the future course of action regarding these allegations.

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BlogBusinessFeaturedIndia

Reliance Industries’ Cash Reserves Surge to $25 Billion in FY24

by theparliamentnews.com
written by theparliamentnews.com

Reliance Industries Ltd (RIL), led by billionaire Mukesh Ambani, has seen its cash reserves skyrocket to an impressive $25 billion (₹2.1 lakh crore) as of March 2024. This milestone positions RIL with the highest cash reserves among India’s listed companies. The cash and cash equivalents of RIL increased by nearly ₹16,000 crore from the previous quarter.

To put this into perspective, around 78% of Nifty200 companies have a market capitalization of less than ₹2 lakh crore, and only 8% of them report revenues exceeding ₹2 lakh crore in FY24.

During the fiscal year, RIL invested ₹1.32 lakh crore ($15.8 billion) in capital expenditure. This spending focused on the nationwide rollout of 5G, expansion of retail infrastructure, and ventures into new energy sectors. As of March 2024, RIL’s net debt stood at $13.9 billion (₹1.2 lakh crore), and the company aims to maintain a net debt to EBITDA ratio of less than 1x.

According to JP Morgan, RIL’s retail and telecom businesses contribute to 50% of the company’s total consolidated EBITDA. The brokerage forecasts that these sectors will account for 95% of RIL’s EBITDA growth over the next three years. “RIL has operated at material negative free cash flow (FCF) for the last three years, driven by spending in Telecom. As that fades, with an EBITDA run-rate of $20 billion a year, the company is expected to deliver positive free cash flow for the next three years,” noted JP Morgan in an investor briefing.

In FY24, RIL reported its highest-ever revenue, exceeding ₹9 lakh crore, driven by strong performance in its consumer and upstream businesses. It also became the first Indian company to surpass the ₹1 lakh crore mark in pre-tax profit. The company’s net profit rose by 7.3% to ₹79,020 crore ($9.5 billion).

On the stock market, shares of Reliance Industries surged by 2.2% on Friday, reaching a new record high of ₹3,197.65 on the NSE. Since the beginning of the year, the stock has rallied by 23%, outpacing the benchmark Nifty50, which has gained 12% in the same period.

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BlogFeaturedIndiaIndia Parliament

Parliament Set for Showdown Over NEET-UG Paper Leak Allegations

by theparliamentnews.com
written by theparliamentnews.com

New Delhi, June 29, 2024 — Parliament is set for a stormy session today as both houses, Rajya Sabha and Lok Sabha, reconvene to address pressing national issues, with the alleged NEET-UG paper leak expected to dominate the discussions.

The proceedings of both houses were adjourned on Friday following a tumultuous session marked by the Opposition INDIA bloc’s vociferous demands for a dedicated debate on the NEET-UG issue. The adjournment came as members protested and insisted on prioritizing the discussion on the alleged irregularities in the National Eligibility-cum-Entrance Test-Undergraduate (NEET-UG).

NEET-UG Controversy: The Core of the Debate

Conducted by the National Testing Agency (NTA) on May 5, the NEET-UG 2024 saw around 24 lakh candidates appear for the examination. The results, announced on June 4, have been mired in controversy with allegations of question paper leaks and other significant irregularities surfacing soon after. The scandal has sparked outrage among students, parents, and political leaders alike, leading to demands for a thorough investigation and accountability.

Today’s Proceedings

When Parliament reconvenes at 11 am today, the NEET-UG issue is expected to take center stage. Opposition members from the INDIA bloc have been persistent in their calls for an extensive debate, underscoring the importance of maintaining the integrity of the nation’s education system.

In the Lok Sabha, BJP MP Anurag Thakur is slated to initiate the debate on the Motion of Thanks on the President’s Address. This session is particularly noteworthy as it marks the first sitting of Parliament following the constitution of the 18th Lok Sabha. Thakur’s speech is anticipated to cover a range of topics, but the NEET-UG controversy is likely to be a focal point, given the current public and political climate.

Background and Implications

The NEET-UG examination is a critical gateway for students aspiring to pursue undergraduate medical courses across India. The integrity of such an examination is paramount, and any compromise can have far-reaching implications on students’ futures and the credibility of the educational institutions involved.

The alleged leaks and irregularities have raised serious concerns about the examination’s conduct and the measures in place to prevent such breaches. The Opposition’s insistence on a dedicated discussion reflects the urgency of addressing these concerns to restore public confidence in the system.

What to Expect

Today’s session is likely to be charged with intense debates and demands for action. The Opposition is expected to press for specific details about the investigation into the NEET-UG irregularities, accountability measures, and steps to prevent future occurrences.

The ruling party, on the other hand, will aim to navigate the discussion while highlighting the government’s broader achievements and plans as outlined in the President’s Address. The debate on the Motion of Thanks will provide a platform for both sides to present their perspectives and for the government to respond to the allegations.

Conclusion

As Parliament gears up for what promises to be a crucial session, all eyes will be on how the NEET-UG issue is addressed. The outcome of today’s discussions could have significant implications for the education sector and the political landscape.

Stay tuned for live updates and in-depth coverage of the Parliament session as the nation’s lawmakers deliberate on this critical issue.

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BlogFeaturedIndiaSports

A Genius of His Craft: Reflecting on Jasprit Bumrah’s T20 World Cup 2024

by theparliamentnews.com
written by theparliamentnews.com

Jasprit Bumrah’s campaign in the ICC Men’s T20 World Cup 2024 will be remembered as one of the most remarkable individual performances in the tournament’s history. Helping India lift the trophy in Barbados, Bumrah’s contributions were recognized with the prestigious Aramco Player of the Tournament award. His stellar performance, amassing 15 wickets at an astounding average of 8.26 and an economy rate of just 4.17, set a new benchmark for excellence in T20 cricket.

Dominance Across the Globe

New York – A Roaring Start

India commenced their World Cup journey in the vibrant atmosphere of the Nassau County International Cricket Stadium in New York. Bumrah set the tone early, delivering a masterclass in precision and control against Ireland. His first three overs conceded just six runs and claimed the crucial wickets of Harry Tector and Josh Little. Bumrah’s disciplined bowling helped restrict Ireland to a meager 96, earning him the Player of the Match accolade.

The encounter against Pakistan four days later proved to be a pivotal moment in the tournament. Defending a modest total of 119, Bumrah struck early to dismiss Babar Azam, finding the skipper’s outside edge. His return spell saw him remove Mohammad Rizwan, turning the tide in India’s favor. Bumrah finished with figures of 3/14, conceding only one boundary and cementing his status as a game-changer.

Super Eights – Unstoppable Force

In the Super Eight stage, Bumrah’s consistency and versatility shone through. Across 12 overs bowled at various venues, he amassed 6/49, playing a crucial role in India’s dominance.

Against Afghanistan in Barbados, Bumrah’s cunning change-of-pace deliveries dismantled Rahmanullah Gurbaz and Hazratullah Zazai within the Powerplay. He later dismissed Najibullah Zadran, conceding a mere seven runs in his four overs.

In Antigua, facing Bangladesh, Bumrah’s lethal bowling at the death thwarted any late challenge to India’s total of 196. He took two vital wickets, including that of skipper Najmul Hossain Shanto, finishing with figures of 2/13.

The final Super Eights match against Australia in St. Lucia saw runs flowing freely, but Bumrah’s expertise in the death overs once again proved decisive. His clever off-cutter dismissed the in-form Travis Head, ensuring India’s top-spot finish.

Semi-Final – England’s Nightmare

Bumrah rose to the occasion in the semi-final against England in Guyana. Teaming up with Axar Patel, he applied relentless pressure early on, reducing England to 34/2 by the fifth over. His off-cutter deceived Phil Salt, shattering the stumps. Bumrah’s return spell saw him trap Jofra Archer lbw, sealing India’s spot in the final.

Final – Clinching Glory

In the grand finale against South Africa in Barbados, Bumrah saved his best for last. Defending a total of 176/7, he made an early breakthrough with a dream delivery to Reeza Hendricks, swinging the ball away at pace to hit the top of the off-stump. As the match reached a nail-biting climax, Bumrah’s brilliance surfaced once more. With South Africa needing 21 runs from 15 balls, he bowled a perfect delivery to Marco Jansen, nipping the ball back between bat and pad. This crucial wicket left the Proteas reeling, and India secured a thrilling seven-run victory.

Bumrah finished the final with exceptional figures of 2/18 from his four overs, sealing India’s triumph and their long-awaited ICC title. His extraordinary performance throughout the tournament not only earned him individual accolades but also solidified his legacy as one of the greatest T20 bowlers of all time.

A Legacy Cemented

Jasprit Bumrah’s T20 World Cup 2024 campaign will be etched in the annals of cricketing history. From his heroics in New York to his match-winning spells in Barbados, Bumrah showcased his genius and mastery over the craft of fast bowling. His ability to deliver under pressure, combined with his tactical acumen, made him an invaluable asset to the Indian team. As India celebrates this monumental victory, Bumrah’s name will forever be synonymous with excellence and brilliance in T20 cricket.

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