Highlights include Congress promising a ₹25 lakh health insurance plan for Delhiites, delays in oil auctions pending Parliament approval, and Microsoft unveiling a $3 billion AI investment plan.
AAP switches political stance, launches Hindu religious wing: In an attempt to compete for hardline Hindutva votes in the upcoming Delhi elections, the Aam Aadmi Party (AAP) is trying to outdo the Rashtriya Swayamsevak Sangh (RSS) and the Bharatiya Janata Party by offering a political platform for Hindu temple priests. TV news channels ABP and Times Now have reported that the AAP's new religious wing would be termed Sanatan Seva Samiti. At a special function on Wednesday, AAP chief Arvind Kejriwal welcomed over 100 members of 'Mandir Prakoshth', a body of temple priests affiliated to the RSS and the BJP. The AAP seems to be banking on a captive Muslim vote bank while wooing Hindutva votes. Reporting from seven Muslim-dominated constituencies, the Indian Express wrote that with a non-serious Congress party at play, the only choice for Muslim voters in Delhi to keep “the BJP out” is the AAP.
AAP leaders barred from entering CM’s residence: Aam Aadmi Party (AAP) leaders Sanjay Singh and Saurabh Bhardwaj were stopped from entering the Delhi Chief Minister's official residence, where they had invited the media to counter the BJP's "Sheesh Mahal" jibes. Police set up barricades and deployed personnel in front of the 6, Flagstaff Road, bungalow, preventing the AAP leaders from entering the premises. Later, the AAP leaders tried to visit the PM’s residence in order to draw a comparison between the two houses but were stopped by the police. Following the incident, they staged a sit-in protest outside the PM’s residence.
Congress promises health insurance for Delhiites: Congress made a poll promise on Wednesday of a comprehensive health insurance scheme called "Jeevan Raksha Yojana" offering a coverage up to ₹25 lakh for all residents of Delhi. Veteran Congress leader and former Chief Minister of Rajasthan Ashok Gehlot made the announcement as part of the Delhi election campaign terming the scheme a game-changer. The party's slogan for the Delhi election, "Hogi Har Zarurat Puri, Congress Hai Zaroori" (every need will be fulfilled, Congress has to be voted in), was unveiled during Gehlot's press conference. The party "promises" to ensure essential services for all the residents. Gehlot also said, "the chances of the Congress forming the government in Delhi are increasing."
Tinamool Congress offers support to AAP in Delhi: Trinamool Congress, one of the biggest parties in the opposition’s INDIA bloc, has extended support to Aam Aadmi Party (AAP) bypassing the alliance leader Congress on Wednesday.
Parliamentary committee on unified elections: The first meeting of the Joint Parliamentary Committee (JPC) on the ‘One Nation, One Election’ Bill chaired by PP Chaudhary was held on Wednesday. The Committee members were briefed by officials of the Ministry of Law and Justice. The Hindu reported that the BJP members in the Committee lauded the Bill, while a Congress member said it is against the “basic fabric of the Constitution”. A Trinamool Congress MP said the Bill, “ negates people’s rights.”
Sharad Pawar will not join NDA: The Hindu on Wednesday reported that Sharad Pawar will not team up with Ajit Pawar to back the BJP, after rumours that the leader would also back the BJP-led National Democratic Alliance (NDA).
Oil and Gas auctions delayed until Parliament clears Oilfields Bill: The Union government will announce the tenth round of oil and gas exploration under the Open Acreage Licensing Policy (OALP) only after Parliament passes the Oilfields (Regulation and Development) Amendment Bill, 2024, Business Standard reports.
India’s economic growth dips below government estimates: India’s economy is expected to grow only at a rate of 6.4% in 2024-25. This is the lowest growth rate in the last four years and the slump is attributed to a slowdown in manufacturing and urban consumption, according to the National Statistics Office (NSO).
Reactions to India’s low economic growth: All India Congress Committee General Secretary-in-charge of Communication, Publicity and Media, Jairam Ramesh, said in a statement that the downward revision of GDP growth estimates calls for “radical action” to dispel the cloud of growth slowdown and investment chill in the country, terming it as a gloomy backdrop to the Union Budget. Meanwhile, Bahujan Samaj Party Chief Mayawati urged the Union government to prioritise national and public welfare over “narrow politics.”
Government to simplify income tax filing rules: The Union government is planning to simplify its income tax filing rules to streamline the process for taxpayers. According to Business Standard, a proposed revamp of the Income-tax Act of 1961 is being finalised and will likely be issued for public consultation around mid-January. Some of the proposed changes include replacing complex income computation structures with formulas; single definition of tax year; reducing the number of additional forms taxpayers need to submit with their tax returns and making them available online.
Microsoft announces $3 billion AI plan for India: On Tuesday, Microsoft's CEO Satya Nadella announced plans to invest over $3 billion in India's Artificial Intelligence (AI) infrastructure, including the establishment of new data and skilling centres in the next two years. He was speaking at the Microsoft AI Tour in Bengaluru.
IPO volumes may double in 2025 as foreign investors eye India: Indian equity capital markets hit $71 billion in 2024, more than doubling year-on-year across initial public offerings, qualified institutional placements (QIPs), and block sales, according to Goldman Sachs' Asia investment banking head Iain Drayton. He told The Economic Times that foreign and domestic flows could drive another record year for listings in 2025.
Temasek in final talks for $10 billion Haldiram stake: Singapore state investor Temasek is set to acquire a 10% stake in Haldiram Snacks Foods, valued at $10 billion, with a final offer expected within a month.
India extends former Bangladesh PM’s visa: Against growing extradition pressure, India has extended the visa of Sheikh Hasina, the ousted Prime Minister of Bangladesh, who has been in India since August of last year.
US congressman flags Adani case as threat to foreign ties: Congressman Lance Gooden criticised the Biden administration’s investigation into Gautam Adani over the $265 million bribery case, calling it politically motivated and harmful to US alliances. He questioned the jurisdiction of the case and warned it could deter foreign investment.
Razorpay to move parent entity home: Bengaluru-based Razorpay expects to shift its parent company from the US to India within six months, incurring a $200-300 million tax outgo. Chief executive Harshil Mathur told the Mint that the fintech startup plans an initial public offering (IPO) after two years of clean financials.
BluSmart enters Mumbai with electric ride-hailing services: BluSmart, South Asia’s largest all-electric ride-hailing service, has launched in Mumbai with chauffeur-driven rentals and airport rides.
Meta introduces community notes mechanism: Meta Platforms Chief Executive Officer (CEO) Mark Zuckerberg on Tuesday announced the company’s decision to do away with fact checking teams, and instead establish a ‘community notes’ mechanism. Community notes will enable users to flag misleading content themselves.
Foxconn, Dixon seek subsidies under unallocated production incentives: Foxconn Technology Group and Dixon Technologies have sought $72 million and $12 million, respectively, from unallocated subsidies under the government’s production-linked incentive (PLI) scheme, The Economic Times reports.
Opposition trade unions warn of strike over labour codes: A coalition of 10 central trade unions affiliated to various Opposition parties has threatened a nationwide strike against the Union government's move to notify four labour codes.
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Wireless data usage dips for first time since 2022 amid tariff hikes: Average monthly wireless data usage per subscriber fell 0.93% to 21.10 GB in the July-September 2024 quarter, the first decline since 2022, according to the Telecom Regulatory Authority of India's (TRAI) report.
ModiWatch: Prime Minister Narendra Modi will inaugurate the thirty-eighth edition of the National Games in Uttarakhand, scheduled to take place from January 28 to February 14.
Delhi Today: Hazy.
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