Good Morning, Swarajya Readers! Here's What You Need To Know Today.
Key Babri Demolition Case Ruling Today: A Supreme Court bench comprising Justices P C Ghose and R F Nariman will deliver its ruling today on the appeal filed by the Central Bureau of Investigation against dropping conspiracy charges against senior Bharatiya Janata Party leaders L K Advani, Murli Manohar Joshi, Uma Bharti, and 18 others, in the Babri Masjid demolition case. The bench will also decide whether the trial of the accused can be transferred from a court in Rae Bareli to Lucknow.
Dinakaran Ousted: The All India Anna Dravida Munnetra Kazhagam Amma faction comprising Chief Minister Edappadi K Palaniswami and his cabinet, decided to oust the party deputy general secretary, T T V Dinakaran, brightening prospects of a truce with the O Panneerselvam faction that had rebelled against her leadership. The decision was “unanimous” and based on the views of all ministers, including Chief Minister E Palaniswami, legislators, MPs and the people, state minister D Jayakumar said, stressing that a committee will now run the party.
Sunday Break For Petrol Stations In Eight States: Following the directives of Prime Minister Narendra Modi to conserve oil, the consortium of Indian petroleum dealers declared on Tuesday that fuel outlets across eight states will be closed every Sunday, beginning on 14 May. Emergency services, such as ambulances, will be allowed to re-fuel. The decision is expected to affect at least 20,000 fuel pumps in Tamil Nadu, Kerala, Karnataka, Puducherry, Andhra Pradesh, Telangana, Maharashtra and Haryana, Suresh Kumar, an executive committee member of the consortium, confirmed.
India Ranks High On Key FDI Index: India has jumped to 8th rank in the 2017 AT Kearney Foreign Direct Investment (FDI) Confidence Index. Investor confidence in India has been growing steadily over the last two years, making it one of the top two emerging market performers on the FDI Index, said the UK-based AT Kearney. “Investors see India as a vast and diverse up-and-coming market with plans to increase investments there over the near to medium term,” said AT Kearney partner and India operations head Vikas Kaushal.
SBI Beats ONGC: In terms of market valuation, State Bank of India (SBI) on Tuesday surpassed Oil and Natural Gas Corporation (ONGC) to become the country’s most valued state-owned firm. At the end of trade, the market cap of SBI stood at Rs 235,307.51 crore. This is about Rs 2,961.79 crore more than that of PSU energy major ONGC’s Rs 232,345.72 crore. Among the top-10 most valued companies list, SBI is at fifth position, while ONGC is seventh.
Weathermen Predict Normal Monsoon This Year: India will receive normal rains during the June-to-September southwest monsoon season, the government’s weather office said on Tuesday. If the forecast holds, it will boost rural demand and also alleviate rural distress, especially in states such as Karnataka and Tamil Nadu which are reeling under the impact of drought. Rainfall will be 96 per cent of the long-period average with a 38 per cent probability that monsoon will be near normal, India Meteorological Department said and added that rains would be evenly distributed across the country.
Centre Extends Ceasefire In Nagaland: The Union Home Ministry has extended the truce with the National Socialist Council of Nagaland-Reformation (NSCN-R) until 27 April 2018. The decision was taken during a meeting between Home Ministry officials and the Ceasefire Supervisory Board of the NSCN-R in New Delhi. “Government and the NSCN-R have mutually decided to extend the ceasefire agreement with effect from 28 April 2017 for one year… to bring about lasting peace in … Nagaland with the involvement of Naga people,” said a statement.
India Examining New Visa Clamp By Australia: New Delhi is examining “consequences” of Australia’s decision to abolish a popular work visa used by over 95,000 foreign workers, majority of them Indians. The visa programme, known as 457 visa, allows businesses in Australia to employ foreign workers for a period of up to four years in skilled jobs where there is a shortage of Australian workers. Prime Minister Malcolm Turnbull said Australia will adopt a new ‘Australians first’ approach to skilled migration, something similar to what the Donald Trump administration has said.
MUST READ OP-EDS
Uttar Pradesh: CM Yogi Adityanath Urgently Needs To Invest On Women Empowerment: The new government was voted into power through the active participation of women. This new dynamic should compel the Chief Minister to do a lot more for women in Uttar Pradesh.
Theresa May’s Early UK Elections Move Looks Good For The Pound: British Prime Minister Theresa May called for early UK elections on 8 June to strengthen the UK’s Brexit move. The move is good for the pound, the most sensitive barometer of Brexit, as a stable government will help in negotiations with European Union.
Electric Vehicles, A Worthy Challenge For Indian Entrepreneurs: With the advances in electric vehicle technology reaching a tipping point, there is a chance for India to leapfrog into an age of clean and efficient mobility.
Road To Growth Is Paved With Low ICOR: India’s slowing investment rate and rising incremental capital output ratio, or ICOR, have led to low economic growth. Obsessing with high ICOR becomes necessary when resolution of non-performing assets tops the public policy agenda.
Collaborating With Your Direct Business Competitors: When business competitors collaborate, a typical win-lose scenario transforms to a win-win game in which both parties reap superior benefits. Some of the biggest challenges that firms face while working on co-opetitive partnerships are related to cartel formation and associated anti-trust issues.
Why Modi Must Bite The Bullet In J&K: Governor’s Rule Is The Only Option: The case for Governor’s rule has never been stronger. Prime Minister Modi should bite the bullet and suspend the state assembly and let the Governor run it till the situation improves.
We hope you enjoyed reading our morning brief. Have a great day ahead!
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