Morning Brief: Deal For 26 Rafale Fighters For Navy Moves Forward, Best-Ever Medal Haul At Paralympics, Working Capital Cycle At Peak Efficiency In 25 Years

Dear reader, here's a roundup of the top headlines to keep you ahead of the curve.

Rafale-M Deal Moves Forward

The Defence Acquisitions Council has approved four amendments to the Rs 50,000-crore deal for 26 Rafale-M fighters currently being negotiated with France. One change involves dropping the planned integration of the Advanced Electronically Scanned Array (AESA) radar developed by DRDO with the French fighters, which will primarily be used on India's new aircraft carrier, INS Vikrant. The integration was deemed too costly and time-consuming. With the approval of these amendments, the deal is expected to progress soon. The goal now is to finalize the contract for 22 single-seat jets and four twin-seat trainers within the current fiscal year.

India Make History At Paris Paralympics 

The Indian contingent at the Paris Paralympics has broken its previous record of 19 medals from the Tokyo Games. On Wednesday morning, the para athletics team won four medals in just 30 minutes, raising India's medal count to 20. These include three golds, seven silvers, and 10 bronzes. Half of the medals came from para athletics, with para badminton adding five more. In the men’s javelin throw final, Ajeet Singh won silver and Sundar Singh Gurjar claimed bronze, marking India's first double podium finish in athletics at the Paris Paralympics.

Working Capital Cycle At Peak Efficiency

The working capital cycle among corporates has reached its shortest period in 25 years, now standing at 47.8 days. This metric, which measures the time it takes for a company to convert assets such as inventory into sales and collect payment, has improved. While companies required nearly 90 days to complete this cycle in 1999-2000, it has nearly halved to 47.8 days in 2023-24. This trend indicates a boost in corporate efficiency, potentially marking the most efficient period since the early 2000s if it continues.

Other Developments

Govt To Offload Around 7 Per Cent Stake In General Insurance

The government plans to offload approximately 6.8 per rent of its stake in General Insurance Corporation of India (GIC Re) through an offer-for-sale at a floor price of Rs 395 per share, representing a 6 per cent discount to Tuesday's closing price. This sale aims to raise around Rs 4,700 crore, contributing to the government’s disinvestment target for the year. With a current stake of about 85.8 per cent, the government hopes to meet its Rs 50,000 crore sell-off target for the fiscal year. GIC Re, the country’s sole reinsurance company, helps insurers manage risk.

Netflix Adds Hijackers' Real Names To Series Disclaimer

After facing severe backlash for its portrayal of hijackers in the web series "IC 814: The Kandahar Hijack," Netflix India has grudgingly agreed to correct the depiction by including the real names of the hijackers with an updated in the opening disclaimer. This decision came in response to outrage over the "humane" treatment of the hijackers and the use of Hindu code names. The controversy prompted a 40-minute meeting between Netflix India's vice-president of content, Monika Shergill, and Information and Broadcasting Secretary Sanjay Jaju. Jaju sharply criticised Netflix for its insensitivity.

The Centre has now included the Uniform Civil Code (UCC) in the 23rd Law Commission's terms of reference, aiming to standardize laws on marriage, divorce, guardianship, maintenance, and inheritance across communities. This move comes just weeks after the Prime Minister reignited the debate on the UCC in his Independence Day speech, highlighting the need for a "secular civil code" to replace the current "communal" one. The previous panel, operating without a Chairperson for months, faced delays in submitting key reports, including those on the UCC and simultaneous elections.

From The States

Haryana Polls: AAP Eyes 10 Seats, Congress Offers 7

The Aam Aadmi Party (AAP) and the Congress are in talks for a possible alliance ahead of the Haryana assembly elections. After two meetings between AAP's Raghav Chadha and Congress' KC Venugopal, a third round of negotiations is expected soon. AAP is seeking 10 seats, but Congress has offered only seven. During a recent meeting, Rahul Gandhi reportedly showed interest in forming an alliance with AAP for the Haryana polls.

Faridabad Shooting: No Evidence To Back Cow Vigilante Theory

Over a week after a teenager was chased and shot dead in Faridabad, Haryana police have labeled the incident as a case of mistaken identity caused by a “misunderstanding.” Authorities are investigating whether the accused had any affiliations with cow protection groups but have yet to find evidence supporting this claim. The victim's father alleged that the main accused admitted to shooting the teenager under the suspicion that he and his friends were cow smugglers. On August 24, 19-year-old Aryan Mishra, a Class 12 student, was killed after being chased and shot by the gang following a 25-kilometer pursuit.

More Bad News For Kejriwal

The Centre has granted the Delhi Lieutenant Governor sweeping powers to form and appoint members to various authorities, boards, and commissions, including the Delhi Commission for Women and the Delhi Electricity Regulatory Commission. According to a recent notification from the Union Home Ministry, the Delhi L-G now has the authority to establish such bodies and select their members. This move is a setback for Delhi Chief Minister Arvind Kejriwal, who has long criticized the Centre for using the office of the Delhi LG to undermine the elected government. Kejriwal remains in jail in the Delhi Excise Policy case.

Bahraich’s 'Operation Bhediya' Continues

A day after wolves killed a two-and-a-half-year-old girl and injured two women, a five-year-old girl in Bahraich, UP, was attacked while sleeping with her grandmother. Since March, seven deaths in Bahraich district have been linked to wolf attacks, with two more deaths under investigation. Health officials report 34 injuries caused by wolves during this time. The state forest department has captured four wolves and is searching for at least two more believed to be active in the area.

Stay tuned—more stories are brewing and just around the corner!