Bengal polls LIVE: Mamata unveils TMC manifesto, promises income for all
TMC manifesto also promised to increase annual financial aid to farmers from Rs 6,000 to Rs 10,000. Stay tuned for all Latest LIVE updates
Trinamool Congress supremo Mamata Banerjee on Wednesday unveiled a "development-oriented" manifesto for the upcoming assembly polls in West Bengal, promising an income scheme for all families, a student credit card and constitution of a task force to examine the inclusion of several communities under the OBC category.
Meanwhile, the Centre today said it has not taken any decision on the nationwide roll-out of the National Register of Citizens (NRC). Union Minister of State for Home Nityanand Rai was replying to a question in the Rajya Sabha on whether the central government had any plans to implement the NRC throughout the country.
Earlier in the day, BJP MP Ram Swaroop Sharma was found dead inside his house in Delhi’s North Avenue. The police suspect that Sharma died by suicide. His body has been sent for postmortem. Meanwhile, the Bharatiya Janata Party cancelled its Parliamentary Party meeting, scheduled for this morning, after learning about Sharma’s death.
Eight people, including at least six Asian women, were shot dead at three day spas in Atlanta, Georgia area on Tuesday, police said, and man suspected of carrying out all of the attacks has been taken into custody.
Back home in India, the Lok Sabha today passed the Appropriation Bill 2021-22, authorising the government to draw funds from the Consolidated Fund of India for its working as well as implementation of its programmes and schemes.
Stay tuned for the latest news of the day.
Stay tuned for the latest news of the day.
2:32 AM
Mamata releases TMC manifesto, promises income for all families, student credit card
TMC supremo Mamata Banerjee on Wednesday unveiled the partys manifesto for the assembly polls promising a monthly Universal Basic Income for all families, a credit card scheme for students to pursue higher studies and formation of a task force to examine the inclusion of several backward communities under the OBC category.
Amid the allegation by the BJP that the TMC is engaged in the politics of appeasement, the manifesto, unlike previous years, did not have any special scheme or project for the minority community, which has been a major support base of the party till the 2019 Lok Sabha election.
The manifesto also vowed to build a "model Nandigram" with the supply of electricity 24X7, piped water and well connected roads. Banerjee, who had announced this recently, is contesting the poll from the Nandigram seat where she has been pitted against her protg-turned-adversary Suvendu Adhikari.
Claiming that her government has reduced poverty in the state by 40 per cent, the manifesto promised to increase annual financial aid to farmers from Rs 6,000 to Rs 10,000.
Christened as "Didi'r 10 Angikar (10 Resolutions of Didi)", the manifesto also listed projects for improving the economy and the health sector, creation of jobs, food security and providing affordable housing, electricity and piped drinking water to people.
The BJP, however, termed the manifesto as a "jumla" (false promise) to fool the people of the state ahead of the elections.
Taking a leaf out of the Congress's promise of Universal Basic Income promise during the Lok Sabha polls of 2019, Banerjee reached out to the 49 per cent women electorate of the state by promising that the woman guardian of every general category family will get Rs 500 every month, while the amount will be Rs 1,000 for SC/ST/OBC families.
The chief minister also announced a pension of Rs 1,000 to widows above 18 years of age.
2:30 AM
Fed sees growth surge, jump in inflation in 2021 but no change on rates
The Federal Reserve on Wednesday repeated its pledge to keep its target interest rate near zero for years to come after projecting a rapid jump in US economic growth and inflation this year as the Covid-19 crisis winds down.
The US central bank now sees the economy growing 6.5% this year, which would be the largest annual jump in gross domestic product since 1984, and the unemployment rate falling to 4.5% by year's end. That compared with projections in December of 4.2% GDP growth and 5% unemployment.
The pace of price increases is now expected to exceed the Fed's 2% target for the year, hitting 2.4% by year's end before falling back in 2022.
"Indicators of economic activity and employment have turned up," the central bank's policy-setting Federal Open Market Committee said in a statement that kept the benchmark overnight interest rate in a target range of zero to 0.25%.
The improvement in the Fed's economic outlook did not immediately alter policymakers' expectations for interest rates, though the weight of opinion did shift. Seven of 18 officials now expect to raise rates in 2023, compared to five in December.
Four of them now feel rates may need to rise as soon as next year, a change from zero as of the last projections in December. Read more
2:29 AM
S&P 500 ends at record high after Fed projects stronger economy
The S&P 500 and Dow Jones Industrial Average closed at record highs on Wednesday after the Fed predicted a fast economic recovery from the coronavirus pandemic and said it would maintain its interest rate at close to zero.
In its statement following its two-day policy meeting, the Federal Reserve projected a rapid jump in U.S. economic growth and inflation this year as the COVID-19 crisis winds down, and repeated its pledge to keep its target interest rate near zero for years to come.
Wall Street extended gains after Fed Chair Jerome Powell said during a news conference that it is too early to discuss tapering-off measures to support the struggling economy.
"The Fed statement today was more optimistic than some expected, they raised their outlook for both economic growth and the labor market. The market’s view of the statement is that it was fairly optimistic," said David Carter, chief investment officer at Lenox Wealth Advisors in New York.
A $1.9 trillion spending stimulus and the rollout of vaccines have fueled a rotation into so-called value stocks that are viewed as likely to outperform as the economy recovers from the coronavirus pandemic.
At the same time, worries that the stimulus could overheat the economy and lead to higher inflation rates have triggered a strong rise in long-duration Treasury yields and made technology and other growth stocks less attractive.
Following the Fed's statement, the yield on 10-year Treasuries ticked lower to 1.6374%.
The Dow Jones Industrial Average rose 0.58% to end at 33,015.37 points, while the S&P 500 gained 0.29% to 3,974.12.
The Nasdaq Composite climbed 0.4% to 13,525.20.
The Nasdaq remains down about 4% from its Feb. 12 record-high close.
Amazon.com Inc rose 1.4% and Tesla Inc added 3.7%, with the two companies giving the greatest lift to the S&P 500.
Six out of 11 S&P 500 sector indexes rose, with industrials and consumer discretionary the strongest performers and both up over 1%.
12:39 AM
Powell says Fed will announce update on SLR exemption in coming days
Federal Reserve Chair Jerome Powell said on Wednesday that the US central bank will share an update on a bank liquidity rule in the "coming days."
An exemption on the "supplemental leverage ratio" was put in place at the start of the coronavirus pandemic to encourage big banks to lend and support bond and short-term funding markets.
The exemption, which reduced the amount of capital banks must hold against Treasurys and some deposits, is currently set to expire on March 31.
US Fed chief Jerome Powell
11:42 PM
Fed sees higher growth, above target inflation; rates remain steady
The Federal Reserve on Wednesday projected a rapid jump in US economic growth and inflation this year as the Covid-19 crisis winds down, and repeated its pledge to keep its target interest rate near zero for years to come.
The US central bank now sees the economy growing 6.5% this year, and the unemployment rate falling to 4.5% by year's end, compared to growth of 4.5% and unemployment of 5% projected at its December policy meeting.
The pace of price increases is now expected to exceed the Fed's 2% target for the year, hitting 2.4% by year's before falling back in 2022. Read more
10:23 PM
Sindhu wins; Srikanth, Kashyap knocked out of men's singles in All England
World champion P V Sindhu made an impressive start at the All England Badminton Championships but compatriots Kidambi Srikanth and Parupalli Kashyap suffered early exits after losing their respective opening round men's singles matches here on Wednesday.
10:04 PM
Air Marshal Zaheer Ahmad Sidhu appointed new chief of Pak Air Force
Pakistan on Wednesday appointed Air Marshal Zaheer Ahmad Babar Sidhu as the new chief of Pakistan Air Force, an official statement said.
Sidhu will assume charge from March 19 after the retirement of incumbent PAF Chief, Air Marshal Mujahid Anwar Khan.
The outgoing PAF chief will hand over the command to his successor at a change of command ceremony scheduled to be held at the Air Headquarters in Islamabad.
Sidhu, who joined the PAF in 1986 as a fighter pilot, has served in fighter squadrons, operational airbases and regional commands, the statement said.
He attended Combat Commanders School and Air War College as well as the Royal College of Defence Studies in the United Kingdom.
He also served as Assistant Chief of the Air Staff (Operations Research and Development), Assistant Chief of Air Staff (Training Officers) and Director General of Projects at Air Headquarters Islamabad. Sidhu also served as additional secretary in the ministry of defence, the official statement said.
10:03 PM
Subramanian exhorts pvt sector to invest in R&D-led innovation
Chief Economic Adviser K V Subramanian on Wednesday called up on the private sector to start investing in R&D-led innovation for their own benefits and to secure their future for the long-term from competition.
Had our software companies ploughed back a portion of their profits into research and development and innovation on time, we also could have our own Googles and Facebooks and Whatsapps long ago, he said and rued that they did not do it in the past nor are they doing enough today.
Addressing a virtual event organised by the Indian Private Equity and Venture Capital Association late this evening, he said since basic research will always have a market for application in the real economy, it all the more makes it urgent on the part of the private sector to invest more in R&D. Even there is market for applied research, he said.
Quoting the latest Credit Suisse report, he said the country, which is home to the third largest number of startups, has 100 startup unicorns now, and credited private capital for the fete. But he was quick to add that if the private sector invested more of their profits to fund innovation, the country can easily become the startup capital of the world.
It was the sheer strength of the ideas of the startup founders that made these 100 unicorns possible and with more private capital we can have many more unicorns, he said.
9:47 PM
NIA conducts searches at Waze's house in Thane
The NIA on Wednesday conducted searches at the residence of suspended Mumbai police officer Sachin Waze in connection with the recovery of an explosives- laden SUV near industrialist Mukesh Ambani's house last month, an official said on Wednesday.
A team of the National Investigation Agency (NIA) conducted the searches at Waze's place in Saket area of neighbouring Thane city in the afternoon, he said.
"Later, another NIA team took Waze to his residence from Mumbai around 8 pm as part of the probe," the agency official said.
"The team, which took Waze to his house, was there for some time and left for Mumbai again," he added.
Before that, the investigators took Waze along and visited Babulnath area of south Mumbai, the Mahim creek and some other spots as part of the investigation, he said.
Waze is at the focus of the NIA probe in the recovery of the Scorpio with explosives near Ambani's house on February 25.
Arrested in the case on March 13 for his alleged role in the crime, Waze was attached to the Crime Intelligence Unit (CIU) till recently. He was suspended after NIA arrested him.
9:46 PM
Bengal polls: Jhargram's elderly woman casts first vote through doorstep facility
Eighty-two-year-old Basanti Shit in West Bengal's Jhargram district was among the first to have exercised her franchise in the assembly elections through doorstep voting facility, an official said on Wednesday.
The octogenarian cast her vote from the comfort of her home on Tuesday as the Election Commission has made provision for voting through postal ballot for senior citizens above 80 years of age and persons with disability.
Seven others from her ward, including six octogenarians and another person with disability, have also cast their votes through postal ballots.
"A team of poll personnel and agents of parties, along with a few CRPF personnel and policemen went to the woman's house on Tuesday morning. A cardboard structure was set up at her residence so that she can cast her vote in secret.
"Her family members were not allowed to enter the room where the poll was conducted. The ballot paper was kept in an envelope and sealed in front of her. The polling process was videographed," the EC official said.
Four assembly constituencies in Jhargram will go to the polls in the first phase on March 27.
9:00 PM
PM Modi arrives at BJP headquarters for Central Election Committee (CEC) meeting
8:44 PM
PM Modi to address rallies in Bengal, Assam tomorrow
A day before addressing rallies in poll-bound West Bengal and Assam, Prime Minister Narendra Modi said on Wednesday that there is a desire for a change in Bengal with the BJP's agenda of good governance striking a chord among the people.
"Glad to be getting the opportunity to be among my sisters and brothers of West Bengal tomorrow, 18th March. I would be addressing a rally in Purulia. Across West Bengal, there is a desire for change. BJP's agenda of good governance is striking a chord among the people," he tweeted.
In another tweet, Modi said, "Will be in Assam tomorrow, 18th March. Looking forward to being among the people of this great state during the rally in Karimganj. Assam has witnessed positive changes across various sectors over the last 5 years. NDA seeks people's blessings to continue the development agenda."
While the BJP is running a campaign to end the running Trinamool Congress' 10-year rule in Bengal, it is working to retain power in Assam.
8:34 PM
J P Nadda met family of BJP MP Ram Swaroop Sharma who was found hanging at his residence in Delhi today
8:18 PM
BJP-led NDA and Cong-led UDF joined hands to stop developmental activities in Kerala: CM Vijayan
Setting out on the campaign trail in Wayanad district, Chief Minister Pinarayi Vijayan on Wednesday attacked the Congress-led UDF and the BJP-NDA fronts alleging that they have joined hands in an attempt to stop the developmental activities in the state.
Vijayan claimed central agencies were trying to destroy the Kerala Infrastructure Investment Fund Board (KIIFB) which has changed the development prospects of the state.
After nine days of campaigning in his home constituency Dharmadam in Kannur district, Vijayan addressed three rallies in Wayanad in the three constituencies-- Mananthawady, Sulthan Bathery and Kalpetta.
7:35 PM
Congress releases a list of two candidates for West Bengal Election 2021
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First Published: Mar 17 2021 | 8:33 AM IST