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Shahnawaz accuses Rahul of misrepresenting the state of Muslims and Dalits

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Senior BJP leader and former Minister Shahnawaz Hussain criticized Congress leader Rahul Gandhi for presenting wrong information about the condition of Muslims and Dalits in India to foreign countries. Shahnawaz accused Gandhi of exposing the failures of the Congress regime, responsible for not protecting the rights and dignities of Muslims and Dalits during the eighties, when he claimed the situation was still the same. Shahnawaz further stated that Gandhi should learn from the former Prime Minister, Atal Bihari Vajpayee, on how to present India in foreign countries without denting its image. Shahnawaz claimed that minorities and Dalits were more secure under Prime Minister Narendra Modi’s governance, and receiving equal opportunities for growth like any other community. Contrarily, the Congress Party merely focused on exploiting Muslims for vote bank politics and never worked towards their upliftment and mainstreaming.

The Bharatiya Janata Party (BJP) is one of India’s largest political parties, founded in 1980. It is currently in power in the central government, under the leadership of Prime Minister Narendra Modi.

Shahnawaz Hussain is a politician and spokesperson for the BJP. He served as Minister of State for Food and Consumer Affairs in the Atal Bihari Vajpayee government from 1999 to 2000. Hussain has also held various other positions in the BJP, such as General Secretary, Member of Parliament, and National Spokesperson.

Delhi Teenager Arrested for Impregnating Minor Following Marriage

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A 17-year-old boy has been taken into custody in Delhi after a minor girl was found to be seven months pregnant during a routine medical check-up, according to a Delhi Police official. The minor girl was a resident of Murshibabad in West Bengal and informed police that she had married the 17-year-old boy in August 2020, and had consensual sexual relations with him. They both moved to Delhi in January and started living in rented accommodation in the West Jawahar Park area. After medical examination and counselling, a case under section 376 (2) (n) (rape) of the IPC and POCSO Act was registered. The victim was taken to a one stop centre at LBS hospital while the juvenile was taken to Juvenile Justice Board (JJB). The board released the accused on an undertaking and fixed the next hearing date for age verification.

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India to Increase Scrutiny of Offshore Funds Following Adani Investigation

Editorial Staff
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India’s stock market regulator, the Securities and Exchange Board of India (SEBI), has proposed stricter scrutiny of offshore funds that hold large stakes in local companies. This move is intended to unravel opaque ownership structures of conglomerates such as Adani Group, which have recently faced scrutiny. The SEBI has identified high-risk offshore funds that have invested over half of their assets in a single entity, as well as those that hold more than INR 250 billion ($3.02 billion) in Indian stocks. The proposal aims to enhance transparency and minimize potential risks associated with opaque ownership structures.

The Adani Group is a conglomerate with interests in ports, airports, logistics, energy, and agribusiness. Recently, the company has been in the spotlight due to allegations of excessive influence, possible tax evasion, and lack of environmental sensitivity.

The Securities and Exchange Board of India’s proposal follows increased pressure from regulators and investors for greater transparency in corporate structures and associated financial risks. Smaller investors in India have expressed concerns over the possible opacity associated with ownership structures of large conglomerates. The proposed measures are aimed at increasing transparency and reducing financial malfeasance and fraudulent activities through stricter regulations.

Possible 6.5% GDP Growth for Current Fiscal Year, Says Government

Editorial Staff
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The Indian government has said that the GDP forecast of 6.5% for the current fiscal year looks achievable, given the growth rate for 2022-2023 is estimated to be 7.2%. Chief Economic Adviser V. Anantha Nageswaran commented that the risk to the forecast of 6.5% was more balanced than it had been a few months ago when the downside risks were deemed greater. The GDP growth for the January-March period of 2022-23 was 6.1%, and the growth rate for the entire year was estimated at 7.2%, which is higher than the advanced estimates of 7%. Moreover, Nageswaran believes that the revised numbers for FY23 might indicate an upward revision to the GDP growth rate. Retail inflation was at an 18-month low of 4.7% in April 2023, and the agricultural industry grew by 5.5% in Q4 of 2022-23. Nageswaran added that the hotel industry’s total employment increased from 29 million during the pandemic to 45 million.

Company mentioned in the article: The Indian government is implied in the article as the source of the GDP forecast and related economic information.

Person mentioned in the article: V. Anantha Nageswaran is the Chief Economic Adviser of the Indian government.

Siemens to acquire electric vehicle unit of Mass-Tech Controls

Editorial Staff
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Siemens Limited has signed an agreement to acquire the EV division of Mumbai-based Mass-Tech Controls Private Limited, in an effort to address the fast-growing demand for electric vehicle (EV) charging infrastructure in India. The division designs, engineers and manufactures a range of AC chargers and 30-300 kW DC chargers for various end applications for EVs. The cost of acquisition is approximately EUR4.3m on a cash-free and debt-free basis. Following the acquisition, the EV division of Mass-Tech Controls will be fully integrated into the e-Mobility Business Unit of the Smart Infrastructure Business, Siemens Limited. The move will enable Siemens to meet market requirements such as homologation and local value-add with cost-competitive solutions.

Siemens is a German multinational conglomerate company that is active globally in the e-mobility infrastructure space for more than a decade. It operates in a range of sectors including automation, energy, healthcare and mobility.

Markus Mildner is the CEO of eMobility at Siemens Smart Infrastructure.

Nepal’s Prime Minister to Meet with India’s Prime Minister During Four-Day Visit

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Nepalese Prime Minister Pushpa Kamal Dahal ‘Prachanda’ arrived in India today for a four-day visit. He will hold bilateral delegation level talks with Prime Minister Narendra Modi tomorrow, after which several agreements are set to be signed. The visit is expected to renew the close and unique India-Nepal relationship. Nepalese PM Dahal’s agenda includes signing an amended and consolidated transit treaty. He is also scheduled to visit Ujjain and Indore, Madhya Pradesh after completing his engagements in New Delhi. Additionally, the two prime ministers will remotely inaugurate the railway yard in Biratnagar, the Jaynagar-Janakpur railway, and the integrated check posts in Biratnagar and Nepalgunj. The Nepal PM is accompanied by five other ministers and is visiting India at the invitation of Prime Minister Narendra Modi.

India’s First Impact Bond for Employment Outcomes: NSDC Leads Financial Innovation

Editorial Staff
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India’s National Skill Development Corporation (NSDC), in collaboration with other partners, has introduced the Skill Impact Bond, a first-of-its-kind development impact bond in the country. The four-year initiative is aimed at addressing the gap between skill training programs and employment, especially for women, by offering an outcomes-based approach to job placement and retention. So far, over 18,000 young Indians from 18 states and Union Territories have enrolled in the program, which is delivered by partners selected based on their capacity to innovate, scale, and reach diverse target groups. The impact bond is designed to incentivize all parties by focusing on job certification, placement and retention, incentivizing all involved partners towards a shared goal.

Transactions Between Two Government Firms Exempt from Prior Approval by Audit Committee for RPTs, Says Sebi

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Indian markets regulator, the Securities and Exchange Board of India (SEBI), has clarified that transactions between two state-run firms will be exempt from prior approval requirements of the audit committee and shareholders for related-party transactions (RPTs). This announcement comes after state-owned power company NTPC sought informal guidance from SEBI on the matter. NTPC queried whether approval was required from the audit committee for transactions with PTC India and Energy Efficiency Services Ltd (EESL), both of which have nominated government directors. SEBI replied that while these directors were appointed by the government, neither PTC nor EESL were government-owned companies so the exemptions would not apply and prior approval of RPTs was required. SEBI added that all RPTs and material modifications would require prior approval of the audit committee of the listed company and any approval granted would be valid for one year.

7 IEDs Planted by Naxals in Chaibasa Disarmed in Jharkhand

Editorial Staff
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A joint operation by the Chaibasa Police, Central Reserve Police Force (CRPF), Jharkhand Jaguar, and BDS has recovered seven Improvised Explosive Devices (IEDs) planted by Naxals in the Tonto police station area for the second consecutive day. The IEDs were later defused by the police in a controlled explosion. This operation comes after a tragic incident on May 19, where a 10-year-old child was killed in the same area due to an IED planted by Naxals. The police suspect that the Naxals aimed to cause damage to the security forces by planting the IEDs.

The Spotted Chevrotain or Rare Indian Mouse Deer has been spotted in Kanger Valley National Park in Chhattisgarh, and a video of it has gone viral. The sighting of the deer comes as good news because the species was believed to be extinct since 1950

Best Summer Getaway: Gangtok, the Chilly Destination

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Gangtok, the capital city of Sikkim state in India’s northeast, is an enchanting destination that offers a wonderful blend of natural beauty, rich culture, and tranquility. It remains a hidden gem for those seeking a cool summer getaway. This picturesque city, nestled in the Himalayas’ lap, offers numerous must-visit places that create an itinerary worth exploring. Tsomgo Lake, situated at an altitude of 12,400 feet, surrounded by snow-capped mountains, is just one of those places. Its breathtaking beauty and changing colors during different seasons make it a sight to behold. Legend has it that Buddhist Monks used to predict the future by studying the lake’s color. Nathula Pass is another must-visit place that is part of the ancient Silk Road, connecting India and Tibet. The scenic mountain pass offers spectacular panoramic views and an adventurous driving experience through steep and slippery slopes. The best time to visit Nathula Pass is during the summer and autumn seasons when the weather is pleasant and accessible.

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