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NTPC board gives go-ahead for raising Rs 12,000 crore via NCDs

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New Delhi, June 29 (IANS) Government-owned power giant NTPC said on Saturday that its board has cleared a proposal to raise up to Rs 12,000 crore through the issuance of bonds and non-convertible debentures (NCDs).

NTPC said in a regulatory filing, “The Board of Directors of the company has, in its meeting held on Saturday, June 29, subject to approval of shareholders, approved the issue of secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures (‘Bonds/NCDs’) up to Rs 12,000 crore in one or more tranches/series not exceeding 12, through private placement in the domestic market during the period commencing from the date of passing of special resolution till completion of one year thereof or the date of next Annual General Meeting in the financial year 2025-26, whichever is earlier.”

“The size, tenure, listing details (BSE and/or NSE), coupon, security (if applicable), and other details as applicable will be decided at the time of issuance of each tranche/series,” it added.

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NTPC is also going for the world’s first and largest 4G ethanol project at its Lara Thermal Plant in Chattisgarh. Jakson Green Pvt., the renewable energy arm of Jakson Group, earlier this month announced that it has tied up with NTPC to set up the project.

NTPC posted a net profit of Rs 21,332 crore for the financial year ended March 31, 2024, which represented a close to 25 per cent increase over the corresponding figures of the previous year.

The stock price of the company closed 0.62 per cent higher at Rs 379.50 on the BSE on Friday.

–IANS

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First FIR under BNS in Madhya Pradesh lodged in Bhopal

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Bhopal, July 1 (IANS) The first FIR in Madhya Pradesh under the new criminal law was registered in Bhopal on Monday.

Bhopal’s Hanumanganj police station registered the first FIR under the Bharatiya Nyay Sanhita (BNS) at 12.16 a.m. (intervening night of Sunday-Monday), a senior police official said.

Around 10 FIRs were registered in the very first hour after the new criminal laws were introduced. Overall more than 60 FIRs were registered across Madhya Pradesh till 3 p.m. on Monday.

Additional Director General (ADG-Law and Order) of Police Jaydeep Prashad told IANS that the first two FIRs were registered in Bhopal’s two police stations.

“The new criminal laws were implemented at midnight on Sunday and the first FIR was lodged 16 minutes later at Hanumanganj police station in Bhopal. We are yet to collect the entire data from across Madhya Pradesh, but overall 60 FIRs were registered (till 3p.m.),” Prashad said.

When asked that Union Home Minister Minister Amit Shah has said that the first FIR under the new criminal law was registered in Gwalior, Jaydeep Prashad said, “I can’t comment on the Home Minister’s statement, as I am not aware of it, but, MP police’s data suggests that the first FIR was registered in Bhopal.”

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He said that the Madhya Pradesh police has prepared for the new criminal laws. “MP police will try it’s best to give better results to provide justice to the victims under the new criminal laws,” Prashad added.

The new criminal laws, Bharatiya Nyay Sanhita (BNS), Bharatiya Nagarik Suraksha Sanhita (BNSS), and Bharatiya Sakshya Adhiniyam (BSA), replaced the Indian Penal Code (IPC), Code of Criminal Procedure (CrPC), and the Indian Evidence Act, respectively, with effect from July 1.

–IANS

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It's not NEET, but Rahul Gandhi's take on Abhay Mudra, Hinduism & Agniveers that flew sparks in Parliament

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New Delhi, July 1 (IANS) When Rahul Gandhi rose to make his first speech as the Leader of Opposition in the Lok Sabha at 2 p.m. on Monday on the motion of thanks on President Droupadi Murmu’s address to the joint sitting of the Parliament, it was anticipated that the alleged NEET paper leak issue would find primacy in his address.

After all, Rahul Gandhi, his party Congress, and its allies have been raising this issue for over a fortnight now.

However, the Congress MP prioritised it differently as the issue figured for a few minutes in his speech at about 3.25 p.m., 85 minutes after he began speaking.

What ironically found focus in his speech was a philosophical narration of Lord Shiva’s sitting position, the ‘Abhay Mudra’, preaching of Islam, Christianity, Guru Nanak Dev, Lord Buddha, and Mahavir.

He also displayed a poster of Lord Shiva despite opposition from Speaker Om Birla.

The centrality of raising these points was Rahul Gandhi connecting them with his own position, which he claimed was the opposition’s stand — “don’t scare, don’t get scared”.

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He spoke on these issues for about half an hour at the beginning of his speech and again referred to them towards the end of his address.

This, incidentally, became the most contentious part of his 110-minute speech, including interruptions and clarifications from the treasury benches.

Rahul Gandhi did arouse passion in the opposition benches, but his entire speech also gave the impression that he cares less, at times completely ignores facts, but goes on hammering the half-truths despite repeated clarifications and presentation of official facts from the government side.

His statement that those who call themselves ‘Hindu’ talk of violence and unleash violence came in for strong objection from no less than Prime Minister Narendra Modi.

The Prime Minister asked how could the Leader of Opposition paint the entire Hindu community as violence-prone, something that was beyond comprehension.

The Prime Minister later added that constitutionality and parliamentary practices have taught him that he should take the Leader of Opposition in all seriousness to stress the point that Rahul Gandhi was digressing from the established norms and practices.

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The Congress leader found his defence in what RJD chief Lalu Yadav had said – that the BJP members were not Hindus, least of all protectors of Hinduism.

In fact, Home Minister Amit Shah rose twice to correct the facts and urge Speaker Om Birla to consider if parliamentary rules, norms, and practices had been given a waiver for a certain member of the House.

Amit Shah also said that Rahul Gandhi should speak to the SGPC and Islamic scholars on what they have to say about ‘Abhay Mudra’.

Rahul Gandhi, however, remained unfazed and continued without mending his ways.

His next flash point with the government was on the Agnipath scheme for the recruitment of Agniveers in the armed forces.

He claimed that Agniveers were “use and throw labourers” who were not given martyr status or compensation if they died in action during service.

Defence Minister Rajnath Singh countered him twice, saying if an Agniveer dies during action, the government gives a compensation of Rs 1 crore to his family.

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But Rahul Gandhi chose not to correct himself, and instead called it Rajnath Singh’s ‘opinion’, adding that the Army and the Agniveers know the facts.

Home Minister Shah again had to intervene in the matter.

Similarly, Agriculture Minister Shivraj Singh Chouhan had to intervene to correct Rahul Gandhi when the latter said MSP was not being paid to the farmers, and during farmers’ agitation, the BJP called them terrorists.

The Congress MP later corrected himself by saying that he was talking about legal guarantees for farm produce.

It must be one of the rarest occasions in Indian parliamentary history when the Prime Minister, Home Minister, Defence Minister, and some other senior ministers had to intervene to object to and correct the Leader of Opposition, that too during his very first speech after assuming the post.

–IANS

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BJP nominates Pankaja Munde, 4 others for state council polls to woo back OBCs, Dalits, Marathas

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Mumbai, July 1 (IANS) BJP for the biennial election to the Maharashtra Legislative Council slated for July 12 has nominated former minister Pankaja Munde, who lost the Lok Sabha elections from Beed, former minister of state Parihar Fuke, former minister of state Sadabhau Khot, former legislator Yogesh Tilekar and party functionary Amit Gorkhe.

The BJP, in the wake of its dismal performance in the General Elections, has made a serious attempt to strike a balance by giving representation to Marathas, OBCs and the Dalit community ahead of the forthcoming Assembly elections likely in September-October.

The biennial election is slated for July 12 for 11 seats. These five leaders will file their nominations on July 2 which is the last date for it.

The BJP’s decision to rehabilitate Munde, who hails from the Vanjari community, is to lure back the OBC community, especially in the wake of ongoing protests over Maratha and OBC reservations.

Munde, who was the Cabinet minister for women and child welfare in the Devendra Fadnavis-led government in 2014 and 2019, is likely to be inducted into the state Cabinet in the run-up to the Assembly poll.

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Munde lost to NCP(SP) nominee Bajrang Sonawane from Beed constituency amid a widening rift between the Maratha and OBC communities and increasing caste divide which played a crucial role in the just-concluded General Elections.

Munde’s rehabilitation has also sent a signal to the BJP’s ally, the Ajit Pawar-led NCP that it would not interfere in the Parli constituency which is represented by the party’s Dhananjay Munde in the state Assembly.

Incidentally, Dhananjay Munde had defeated Pankaja Munde in the Parli constituency in the state Assembly elections in 2019. Both are cousins and now together in the Mahayuti.

Fuke, who is a former minister and a close confidant of Deputy Chief Minister Devendra Fadnavis, comes from the Kunbi community. His nomination is to regain the party’s hold and consolidate its position in the politically-important Kunbi community from Vidarbha region where the party suffered badly in the Lok Sabha elections.

Of the 10 seats, the Mahayuti won only three seats as the other seven seats were bagged by the Maha Vikas Aghadi.

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Tilekar, who is the former legislator from Pune District, comes from the Mali community. His nomination is also aimed to reach out to the Mali and other OBC community members.

Gorkhe, who hails from the Dalit community, is the state BJP Secretary.

Moreover, Khot, who was minister of state in the Fadnavis-led government, comes from the Maratha community from Sangli District. His nomination is to lure not just the Marathas but also the farming community which is in distress due to internal and external factors.

Considering the present strength of 103 legislators from the state Assembly, the BJP has fielded five nominees, while Shiv Sena can nominate two nominees based on its 37 legislators, NCP two nominees with its 39 legislators. The Congress can contest one seat with its 37 legislators while Maha Vikas Aghadi together can field one nominee based on Congress party’s excess votes and also with the support of 16 legislators of Shiv Sena (UBT) and NCP(SP’s) 13 legislators.

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Meanwhile, the NCP has nominated party General Secretary Shivajirao Garje and party functionary Rajesh Vitekar. Garje hails from Vanjari community while Vitekar is Maratha. Both were given commitment by the party’s National President Ajit Pawar.

Garje and Vitekar will file nominations on Tuesday.

Garje is a former government officer and he has been associated with the NCP since it was formed in 1999.

After Ajit Pawar deserted his uncle and NCP founder Sharad Pawar in July 2023, Garje sided with the former.

In the case of Vitekar, his nomination is aimed at his rehabilitation.

Vitekar was to contest the Lok Sabha elections from Parbhani District but he could not do so after the NCP left the seat to ally Rashtriya Samaj Paksha founder Mahadev Jankar. Vitekar’s nomination is also to woo the Maratha community from Marathwada.

–IANS

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Rahul Gandhi has insulted crores of Hindus: BJP leaders

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New Delhi, July 1 (IANS) The Bharatiya Janata Party (BJP) on Monday slammed Congress leader Rahul Gandhi for making a controversial statement on Hindus during his maiden speech as the Leader of Opposition in Lok Sabha.

Addressing the House, Rahul Gandhi said: “Those who call themselves Hindu only talk about violence, hatred and untruth…”

Reacting strongly, Home Minister Amit Shah said that by saying that Hindus commit violence, lie and spread hatred, Rahul Gandhi has “insulted crores of Hindus” and he should apologise for making the comment.

BJP National President J.P. Nadda, in a series of posts on X, severely criticised Rahul Gandhi, asserting that the Leader of the Opposition, now a five-time MP, has “not learnt Parliamentary norms” and neither “understands civility”.

“First day, worst show! Lies + Hindu hatred = Rahul Gandhi Ji in Parliament. Third Time Fail LoP has a knack for agitated, flawed logic. His speech today has shown that neither has he understood the mandate of 2024 (his third successive loss) nor does he have any humility,” said J.P. Nadda.

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The Union Minister of Health and Family Welfare added: “This is the same person who was telling foreign diplomats that Hindus are terrorists. This intrinsic hate towards Hindus must stop… Time and again, he reduces the levels of discourse. His utterances towards the Chair today were in very poor taste. He owes an apology to the Chair for casting unsubstantiated aspersions on his integrity and personality.”

Finance Minister Nirmala Sitharaman accused Rahul Gandhi of indulging in hypocrisy and said that his ‘mohabbat ki dukaan’ is now exposed.

“Sheer audacity of LoP Rahul Gandhi to call everyone who calls himself Hindu as ‘hinsak’/violent shows INC India’s hatred and contempt towards Hindus. Also consistent with Hindu hate of his INDI Alliance partners.”

Commerce and Industry Minister Piyush Goyal also said that Rahul Gandhi calling Hindus violent in the House is an insult to crores of Hindus.

“I strongly condemn such controversial and extremely shameful statement which violates the dignity of the Leader of the Opposition. Rahul Gandhi should apologise to the Hindu society for this,” he said.

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Union Minister For Coal and Mines, G. Kishan Reddy labelled Rahul Gandhi’s statement as “utterly shameful, disgraceful and demeaning” and said that the Congress leader should apologise to the entire Hindu community.

“The self-proclaimed defender of the Constitution and the electoral Hindu has revealed his true colours. His statement, labeling Hindus as a violent community, exposes Rahul Gandhi’s and Congress’ anti-Hindu agenda. This is not the first time Congress has insulted Hindus; earlier, they insulted Sanatana Dharma, and now, a direct attack on Hindus,” he posted on X.

Defence Minister Rajnath Singh stated that the proceedings of the Parliament are conducted on the basis of some rules and procedures besides also some healthy traditions.

“Whenever the President’s address is discussed, on the basis of what I have seen in my long parliamentary life, I can say that no other topic is discussed at that time. I would also like to request all the respected members of the opposition that whatever topic you want to discuss, you may discuss it but only after the motion of thanks to the President has been passed in the Parliament,” Rajnath Singh highlighted.

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Minister of Parliamentary Affairs Kiren Rijiju also strongly condemned Rahul Gandhi’s remarks.

“I condemn Rahul Gandhi Ji for terming Hindus as violent, hateful and untruthful community. He can’t insult Hindus without any reasons,” said Rijiju, who is also the Minister of Minority Affairs.

–IANS

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India likely to get above-normal rainfall in July as monsoon picks up pace: IMD

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New Delhi, July 1 (IANS) India is likely to get above-average rainfall in July as the monsoon has picked up momentum, the Indian Meteorological Department (IMD) said on Monday.

There is an 80 per cent probability of normal to above-normal rainfall in July across all regions of the country apart from the Northeast, according to the IMD forecast.

The favourable La Nina effect is expected to come into play during the second half of the monsoon season, resulting in more rain, said IMD Director General Mrutyunjay Mohapatra.

The monsoon arrived early over Kerala and the Northeast on May 30, but its progress slowed over Maharashtra. This resulted in scorching heat waves in northwest India and prolonged dry conditions in West Bengal, Odisha, Jharkhand, Bihar, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh.

“The country recorded 16 days of below-normal rainfall activity from June 11 to June 27, which led to overall below-normal precipitation,” Mohapatra said.

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According to the IMD data, the country received 147.2 mm rainfall against a normal of 165.3 mm during June, which is a deficit of 11 per cent for the month.

The monsoon plays a key role in the Indian economy as close to 50 per cent of the country’s farmland does not have any other source of irrigation. The monsoon rains are also crucial for recharging the country’s reservoirs and aquifers from which water can be used later in the year to irrigate crops.

India has emerged as a key exporter of foodgrains but had to resort to curbing overseas shipments of sugar, rice, wheat, and onions to increase domestic supplies and keep prices in check due to the erratic monsoon last year, which hit farm production.

A robust growth in the farm sector helps to keep inflation in check.

Apart from supplying food, the farm sector also plays a key role in providing a demand for industrial goods such as two-wheelers, fridges, and fast-moving consumer goods (FMCG). An increase in agricultural production and incomes, therefore, apart from contributing directly to GDP growth, also leads to an increase in industrial growth.

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–IANS

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