LIVE: 'Blatant affront to democratic ethos,' NDA slams Oppn's decision

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National Democratic Alliance (NDA) says it unequivocally condemns the decision of 19 political parties to boycott the inauguration of the new Parliament building on 28th May. "This act is not merely disrespectful; it is a blatant affront to the democratic ethos and constitutional values of our great nation," the statement from NDA reads.

 Directorate of Enforcement (ED) carried out search and seizure operations under the provisions of FEMA, 1999 on May 22-23 at 25 premises in Delhi (11), Gujarat (7), Maharashtra (4), Madhya Pradesh (2) and Andhra Pradesh (1) in relation to the investigation being done against foreign registered Online Gaming companies/websites operating in India. These online gaming companies/websites are registered in small island countries like Curacao, Malta and Cyprus. However, all of them are linked to Indian Bank Accounts opened in the name of proxy persons who have no links with online gaming activity. The amount so collected from general public through gaming websites is then routed through multiple bank accounts and finally remitted out of India by mis-declaring the purpose of remittances against import of services / goods. Remittances out of the income from racing/riding etc., or any other hobby are not allowed under the provisions of FEMA, 1999.

We want to become energy exporters to world, said Nitin Gadkari at CII event on hydrogen fuel. "Hydrogen is futuristic fuel, which can be used in chemical, steel, pharma industries. The industry must give Mission Hydrogen utmost priority," he added. 

India has a strong foreign exchange reserve and the country is in a comfortable position to meet all the requirements even in any worst-case scenario in the next five-six years, Commerce and industry Minister Piyush Goyal said. On forex reserves, he said: "We have strong foreign exchange reserves... In the worst case with whatever difficulty anybody may have, India is comfortable for the next 5 or 6 years, given our forex reserves today, to be able to meet our forex requirements"

While speaking at the Plenary Session with at the Confederation of Indian Industry Annual Session 2023, the RBI Governor Shaktikanta Das said that the IMF's World Economic Outlook of April 2023 projects global growth to decelerate from 3.4% in 2022 to 2.8% in 2023 before rising again to 3 per cent in 2024. 

The economic slowdown is, however, concentrated in advanced economies, with the Asia-Pacific region expected to contribute about 70% of global growth in 2023. According to the same estimates, India will contribute about 15% to global growth in the current year, he added. 

10:45 PM

Shinde and Fadnavis inspects the under-construction Mumbai Trans Harbour Link (MTHL)

Maharashtra Chief Minister Eknath Shinde and Deputy Devendra Fadnavis inspected the under-construction Mumbai Trans Harbour Link (MTHL) and flagged off the first bus to cross the MTHL. "95% of work is completed. We will wind up the work by the end of this year," says SVR Srinivas, the commissioner of Mumbai Metropolitan Region Development Authority

 

2:08 PM

Road infra not only transformed tremendously but is also moving towards green, pro-planet construction: Bajaj

The road infra has not only seen a tremendous transformation, but is also moving towards green and pro-planet construction. The unprecedented push towards R&D, whether in electric vehicles, building of e-highways, the charging infrastructure - all these will go a long way for a country like India which is growing at super speed but also has to transition to cleaner energy sources, said Sanjiv Bajaj at CII event

1:54 PM

Siddaramaiah says Ministers will be allocated portfolios soon; Bommai questions delay

Karnataka Chief Minister Siddaramaiah on Wednesday said Ministers in his cabinet will soon be allocated portfolios, after the opposition BJP raised the issue in the state assembly.

The CM gave the assurance in the House, in response to a question raised by former Chief Minister Basavaraj Bommai of BJP, over the delay in allocation of portfolios to the Ministers.

Siddaramaiah and state Congress President D K Shivakumar were sworn in as Chief Minister and Deputy Chief Minister respectively along with eight legislators as Ministers on May 20. Portfolios have not been allocated to the Ministers since then.

1:35 PM

Rs 3 trn worth development work is being done in NE: Gadkari

Centre is connecting the North east through different development projects through Rs 3 trillion worth projects under project GatiShakti: Nitin Gadkari

We are creating several logitics parks there. 

1:31 PM

Hydrogen is futuristic fuel: Nitin Gadkari

Hydrogen is futuristic fuel, which can be used in chemical, steel, pharma industries. The industry must give Mission Hydrogen utmost priority: Nitin Gadkari

1:30 PM

Getting rid of pollution is important: Gadkari

It is very important to get rid of air, water, noise [pollution. The country needs to get rid of pollution. We are trying all that is possible to get rid of it though sustainable development. Sustainable development projects will also create a lot of job : Nitin Gadkari  

1:26 PM

For roadside development, we want to develop industrial clusters and logistics parks: Gadkari

For roadside development, we want to develop industrial clusters and logistics parks. Pre-cooling plants and cold storage are the most important components for logistics parks, as agricultural production and exports increase tremendously, says Nitin Gadkari

1:25 PM

Green expressways and economic corridors will reduce logistics costs significantly: Gadkari

Owing to our green expressways and economic corridors, I believe our logistics costs will reduce significantly over the next 3 years, which in turn will enhance exports and boost employment, says Nitin Gadkari

1:24 PM

Tourism in India has shown great progress, has much greater potential going forward: Gadkari

Tourism in India is one sector that has shown great progress and has much greater potential going forward, says Nitin Gadkari

1:21 PM

Public EV transport should be prioritized: Gadkari

The vialibity of the public electic vehicles is great, and should be pushed for. I am trying to introduce electrical buses, with cards and nit tickets.  
We need 2 lakh E-buses for this. 

50% production of e-scooters in India is exported. 
E-Rickshaws a success, so are e-buses 

1:08 PM

Making issues out of non issue is most unfortunate: Joshi on boycott of new Parliament building inauguration

1:06 PM

Kejriwal meets Uddhav to seek support for fight against Centre's ordinance on control of services in Delhi

Delhi Chief Minister Arvind Kejriwal met Shiv Sena (UBT) head Uddhav Thackeray at the latter's residence in Mumbai on Wednesday to seek support for the AAP's fight against the Centre's ordinance on control of services in Delhi.

He was accompanied by Punjab Chief Minister Bhagwant Mann, Aam Aadmi Party (AAP) Rajya Sabha members Sanjay Singh and Raghav Chadha, as well as Delhi minister Atishi.

The Centre on Friday promulgated an ordinance to create an authority for transfer and posting of Group-A officers in Delhi, with the AAP government calling the move a deception with the Supreme Court verdict on control of services.

12:38 PM

India's forex reserves at comfortable position to meet any requirements: Piyush Goyal

India has a strong foreign exchange reserve and the country is in a comfortable position to meet all the requirements even in any worst-case scenario in the next five-six years, Commerce and industry Minister Piyush Goyal said on Wednesday.

India's forex kitty jumped USD 3.553 billion to USD 599.529 billion for the week ended May 12, according to the Reserve Bank of India.

On forex reserves, he said: "We have strong foreign exchange reserves... In the worst case with whatever difficulty anybody may have, India is comfortable for the next 5 or 6 years, given our forex reserves today, to be able to meet our forex requirements."

11:45 AM

Rs 2000 notes were not in common use, says RBI Guv

Rs 2000 notes were not in common use. It was only introduced to replinish the value of currency, says RBI Governor. He further added that the Central Bank is monitoring the situation to make sure the exchange or deposits of notes goes through smoothly. 

 

11:43 AM

RBI is willing to discuss with stakeholders on Green Finance: RBI Guv

RBI brings annual report on currency and finance towards "cleaner and greener India" to showcase research of our research department on energy transition. India needs both domestic and external finance to realise energy transition and facilitate Green finance.