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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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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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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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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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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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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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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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Barbados: As Team India prepares for the highly anticipated T20 World Cup final against first-time finalists South Africa, skipper Rohit Sharma addressed concerns about Virat Kohli’s form with a confident and optimistic perspective. Kohli, who has struggled for runs since the start of the tournament, has been under scrutiny. However, Rohit believes the star batter is saving his best for the grand finale.

Dominant Semi-Final Performance

India stormed into the T20 World Cup final with a commanding 68-run victory over England in the semi-final on Thursday. Despite rain-related interruptions, India asserted their dominance from the outset. Rohit Sharma led the charge with an aggressive 57 off 39 balls, setting a solid foundation after the early dismissals of Virat Kohli and Rishabh Pant. Suryakumar Yadav provided strong support, contributing 47 off 36 balls, helping India reach a competitive total of 171/7.

In response, England struggled against India’s relentless bowling attack and were bowled out for just 103 in 16.4 overs. This emphatic victory set up a final clash with South Africa in Barbados on Saturday.

Concerns Over Kohli’s Form

Despite India’s dominance throughout the tournament, Virat Kohli’s poor form remains a concern. The star batter has been short of runs since the opening match and managed only 9 runs off as many deliveries in the semi-final. Kohli, who has been opening alongside Rohit, a position he excelled in the Indian Premier League, has found it challenging to replicate his domestic success on the international stage this tournament.

Rohit’s Confident Stance

Addressing Kohli’s form during the post-match presentation, Rohit Sharma expressed confidence in his teammate’s abilities. He dismissed concerns about Kohli’s form, emphasizing the experience and quality the star batter brings to the team.

“He’s a quality player. Any player can go through that. We do understand his class and his importance in all these big games. Form is never a problem because when you’ve played cricket for 15 years, it isn’t a problem. He is looking good, the intent is there. He’s probably saving for the finals,” Rohit told Michael Atherton in the post-match interview.

Eyes on the Prize

India is now gearing up for its third appearance in the T20 World Cup final, with hopes of ending an 11-year ICC title drought. The last time India reached the final was in 2014, where they faced a defeat against Sri Lanka. As the team prepares for the showdown in Barbados, fans and critics alike are eager to see if Virat Kohli will rise to the occasion and deliver a match-winning performance.

The T20 World Cup final promises to be a thrilling encounter, with India aiming to reclaim their position as the champions of the shortest format. All eyes will be on Kohli, hoping he can silence his critics and play a pivotal role in bringing the trophy home.

Stay tuned for the grand finale on Saturday, June 29, as Team India takes on South Africa in what promises to be an epic clash in Barbados.

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In a significant session of the Indian Parliament, President Droupadi Murmu addressed a joint sitting on Thursday, marking her first presidential address since the BJP-led NDA government secured a third consecutive term. During her speech, President Murmu launched a pointed critique of the Emergency imposed by the Congress government in 1975, labeling it the “biggest” and “darkest” chapter in the history of India’s democracy, a direct assault on the Constitution.

Key Issues Addressed

President Murmu also touched upon contemporary concerns, notably the alleged irregularities in the National Eligibility-cum-Entrance Test-Undergraduate (NEET UG-2024). She assured the Parliament that the ongoing Central Bureau of Investigation (CBI) probe into the NEET paper leak case would ensure accountability and transparency.

Following the President’s address, a motion of thanks was proposed in both Houses of Parliament, setting the stage for subsequent discussions among lawmakers. This session marks the commencement of the first meeting of the 18th Lok Sabha, with the Rajya Sabha session starting on the same day.

Election of Lok Sabha Speaker

In a significant development on Wednesday, Om Birla was re-elected as the Speaker of the Lok Sabha. Prime Minister Narendra Modi moved the motion in the House, and Birla emerged victorious against the Opposition’s candidate, Congress MP Kodikkunil Suresh, through a voice vote. This marks the second consecutive term for Birla as Speaker, reflecting the NDA’s continued dominance in the lower house.

Congratulatory Messages and Vision for the 18th Lok Sabha

Post-election, Speaker Birla received congratulations from key political figures, including Prime Minister Modi and Leader of the Opposition Rahul Gandhi, along with various leaders from both the NDA and the opposition. In his address, Birla emphasized the need for a new vision and resolve for the 18th Lok Sabha. He called for the House to become a center of creative thinking and new ideas, aiming to uphold high standards of parliamentary traditions and dignity. Birla underscored the importance of working towards the goal of a developed India, or Viksit Bharat.

Commemoration of Emergency Anniversary

Marking the 50th anniversary of the Emergency imposed on June 26, 1975, Speaker Birla praised the resilience and determination of those who opposed the Emergency and fought to protect India’s democracy. His remarks served as a reminder of the importance of safeguarding democratic principles and the rule of law.

Adjournment of Both Houses

After a day filled with significant addresses and discussions, both Houses of Parliament were adjourned for the day. The session highlighted crucial issues, set the tone for future legislative debates, and reinforced the commitment to democratic values and accountability.

As the 18th Lok Sabha embarks on its journey, the focus will remain on fostering innovative ideas, maintaining parliamentary decorum, and addressing the pressing concerns of the nation.

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In a significant moment of unity, Prime Minister Narendra Modi and Congress leader Rahul Gandhi, who is set to assume the role of Leader of the Opposition, shook hands today in the Parliament as they together welcomed the newly re-elected Lok Sabha Speaker, Om Birla. This gesture marked a fresh chapter in the 18th Lok Sabha.

The Election of Om Birla

The election results were declared by Pro-tem Speaker Bhartruhari Mahtab after the Opposition, which had put forward Congress MP K Suresh as its candidate, chose not to push for a vote on the motion. This led to a smooth re-election for Om Birla, who will now serve as the Lok Sabha Speaker for a second term.

Following the announcement, Prime Minister Modi, accompanied by Parliamentary Affairs Minister Kiren Rijiju and Rahul Gandhi, approached Om Birla’s seat in the front row of the treasury benches to escort him to the Speaker’s chair.

Congratulatory Messages

In his congratulatory message, Prime Minister Modi expressed his confidence in Birla’s leadership, saying, “It is a matter of honour that you have been elected to this chair for the second time. I congratulate you on behalf of the entire House and look forward to your guidance for the next five years. Your sweet smile keeps the entire House happy.”

Rahul Gandhi, representing the Opposition and the INDIA alliance, also extended his congratulations, emphasizing the importance of the Speaker’s role in parliamentary democracy. “You are the final arbiter of people’s voice. The government may have political power, but the Opposition also represents the voice of the people. The Opposition would like to assist you in your work, and I am confident you will allow us to speak in the House,” Gandhi said.

The Role of the Leader of the Opposition

The role of the Leader of the Opposition in India dates back to 1969 when Ram Suhag Singh first held the post. Since then, it has evolved to become a cornerstone of parliamentary democracy. The Leader of the Opposition plays a key part in the appointment of key officials such as the Chief Election Commissioner (CEC), the Central Vigilance Commissioner (CVC), and members of the Central Bureau of Investigation (CBI), the National Human Rights Commission (NHRC), and the Lokayukta. This role ensures a check and balance within the government, holding it accountable to the public.

A New Chapter in Parliamentary Democracy

As the 18th Lok Sabha begins its journey, the collaborative spirit shown by Prime Minister Modi and Rahul Gandhi in welcoming Speaker Om Birla signifies a hopeful start. Their handshake and mutual respect underscore the potential for constructive dialogue and cooperation, crucial for addressing the nation’s challenges and advancing its democratic processes. The coming years will test this unity and the effectiveness of the new leadership roles, shaping the future of India’s parliamentary democracy.

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