Centre Financial News

Article 370, the Supreme Court said, “There are innumerable decisions taken by the Union government on behalf of the State government for the purpose of day to day administration. Every decision and action taken by the Union executive on behalf of the State is not subject to challenge." The Supreme Court noted that if every decision of the Centre is cannot be open for challenge, else, the court said, it would lead to chaos and uncertainty.

Also Read: SC upholds reorganisation of Ladakh as Union Territory The top court said no maladies in the exercise of power under Article 370(3) by the President to issue an August 2019 order. “Thus, we hold the exercise of Presidential power to be valid." “The power of the President under Article 370(3) to issue a notification that Article 370 ceases to exist subsists even after the dissolution of the J&K Constituent Assembly. The recommendation of the Constituent Assembly was not binding on the President.

Article 370 verdict LIVE updates: PM Modi terms SC verdict on abrogation of Article 370 historic 1) The Supreme Court has upheld the central government's decision to abrogate Article 370 of the Constitution, while holding that Jammu & Kashmir has no internal sovereignty different from other states of the country. CJI DY Chandrachud, while writing the judgment for himself, Justices Gavai and Surya Kant, observed, "All provisions of the Indian Constitution can be applied to J-K… We hold the exercise of presidential power to issue constitutional order abrogating Article 370 of Constitution as valid," 2) The 5 judge bench of the apex court also upheld the government's decision to carve out the union territory of Ladakh from the erstwhile state of Jammu & Kashmir.

New Delhi: Amid a consistent rise in power demand and inadequate domestic coal supplies, the Union power ministry is set to review its current policy of mandating power generation companies to blend 6% imported coal. The review, likely in January, will determine whether to continue the blending requirement beyond March and consider increasing the blending percentage in response to growing demand and fluctuating coal stocks, said two people in the know of the development. "The coal stock position and demand situation would be looked into and if the demand seems to be rising, the blending quantum may even be increased," said one of the persons on condition of anonymity.

Max Healthcare Institute Ltd announced its complete acquisition of Starlit Medical Centre Pvt Ltd for an enterprise value of ₹940 crore, on Friday. This strategic move grants Max Healthcare ownership of the 550-bed Sahara Hospital located in Lucknow. The company has successfully finalized a binding share purchase agreement (SPA) to acquire a full 100% stake in Starlit Medical Centre Pvt Ltd.

Nvidia is in advanced talks with Malaysian power-to-property conglomerate YTL on a data centre deal, three sources familiar with the matter said. The potential tie-up would include collaborating on cloud infrastructure, and is likely to be anchored at YTL's data centre complex in the southern Malaysian state of Johor, bordering Singapore, one of the people said.

Supreme Court on Thursday asked the Centre to furnish the number of individuals who have been conferred citizenship under Section 6A of the Citizenship Act and details of administrative steps taken to deal with illegal immigration into the country, particularly into northeastern states. A five-judge constitution bench headed by Chief Justice of India (CJI) DY Chandrachud also directed the government to submit the estimated inflow of illegal immigrants into India, including, but not confined to Assam, after March 25, 1971. Under Section 6A — a special provision inserted into the Citizenship Act, 1955, as part of the Assam Accord in 1985 — people who migrated to Assam between January 1, 1966, and March 25, 1971, were allowed to register themselves as citizens. The Supreme Court also demanded to know the number of foreigners detected under the orders of foreigners' tribunals between January 1, 1966, and March 25, 1971, during the resumed hearing of a clutch of petitions challenging the constitutionality of Section 6A. It also summoned information «in respect of persons who are alleged to have entered India after March 25, 1971, (a) the total number of foreigners' tribunals set up by the central government, (b) the total number of cases disposed of, © the number of cases pending as on date, (d) the average time taken for disposal of cases, and (e) the number of cases pending before the Guwahati High Court on such issues». The bench asked the Centre to explain as to why Assam was «singled out» for action against illegal migration, especially when West Bengal shares a much larger border with Bangladesh. «What is the government doing now to ensure an impermeable border?» the bench asked solicitor general Tushar Mehta,

State Disaster Relief Fund (SDRF) of Rs 493.60 crore to Andhra Pradesh and Rs 450 crore to Tamil Nadu, the two states which bore the impact of the cyclonic storm Michaung. Union Home Minister Amit Shah on Thursday in a post on 'X' said, «severe cyclonic storm Michaung has affected Tamil Nadu and Andhra Pradesh. Though the extent of damage is varied, many areas of these states are inundated, thus affecting standing crops.» «To help the state governments with the management of relief necessitated by the cyclonic storm, PM @narendramodi Ji directed the Ministry of Home Affairs (MHA) to release in advance the central share of the 2nd instalment of SDRF of Rs 493.60 to Andhra Pradesh and Rs 450 crore to Tamil Nadu,» Shah posted. The Minister also mentioned that the centre had already released the first instalment of the same amount to both states.

fiscal deficit target of 5.9% of gross domestic product (GDP) for 2023-24. The demands involve gross additional spending of more than ₹1.29 lakh crore in this fiscal, a significant chunk of which, ₹70,968 crore, will be met through savings or enhanced receipts of various ministries and departments, according to the papers tabled in both houses of Parliament. Late last month, officials had said overall revenue collections were expected to remain robust this fiscal, while additional outgo under some programmes or heads could be significantly offset by savings in others and reprioritisation of expenditures. The Centre's fiscal deficit in the first seven months of this fiscal hit 45% of the full-year target, a tad lower from 45.6% a year before, indicating that the deficit was under control. The government had budgeted total expenditure at ₹45 lakh crore for 2023-24, while its tax and non-tax revenue was pegged at ₹26.3 lakh crore. The net outgo under the first batch of supplementary demands for grants in 2023-24 is way below the level a year before, when the government had sought clearance for a net spending of ₹3.26 lakh crore and gross expenditure of ₹4.36 lakh crore. However, this was because the 2022-23 budget calculations went haywire after the Ukraine war broke out unexpectedly, leading to elevated global commodity prices that inflated the government's subsidy bill. The latest supplementary demands include a total of 79 grants and four appropriations.

₹1.29 trillion for FY24. In the first batch of supplementary demand for grants, the government sought approval to spend a net ₹583.78 billion in the current fiscal, which involves a cash outgo.

assembly elections in three states, Union defence minister Rajnath Singh on Monday said the results indicate that the BJP will return to power at the Centre with a clear majority in 2024. “A spectacular victory it is," Singh told reporters in Parliament Complex. “It seems that the country has made up its mind to ensure that BJP forms its government, winning the 2024 Lok Sabha elections with a clear majority," he added.

Pradhan Mantri Ujjwala Yojana, the Parliament was informed on Monday. In a written reply in Rajya Sabha, Rameswar, minister of state in the Ministry of Petroleum and Natural Gas, apprised that there are 9.67 crore active LPG connections under Pradhan Mantri Ujjwala Yojana (PMUY), which includes 69.26 lakh connections in Rajasthan as of October 2023. The Pradhan Mantri Ujjwala Yojana (PMUY) was started in May 2016 to provide clean cooking fuel to poor households across the country. Under PMUY, a deposit-free LPG connection is provided to adult women from poor households. «The government started a targeted subsidy of Rs 200/- per 14.2 kg cylinder for up to 12 refills per year (and proportionately pro-rated for 5 Kg connections) to the PMUY consumers in May 2022.

By Simon Jessop, Maha El Dahan and Hadeel Al Sayegh

artificial intelligence and deepfakes. Deepfakes are videos or images that are created using Artificial Intelligence (AI)-powered deep learning software that show people saying and doing things that they didn't say or do. A bench headed by Acting Chief Justice Manmohan observed that technology cannot be «reined in» and the issue raised by the petitioner required deliberations which only the government could undertake.

Rosie and Alba are hard at work on their canvases, redefining the essence of abstract art — one tail swish at a time. To the untrained eye, their work at Bristol Animal Rescue Centre (ARC) could be seen as boisterous, childish at times and even just plain old messy. But the two canines have a far more important job than pleasing critics. Inflation and high interest rates across the UK plus people abandoning pets they bought during the Covid-19 pandemic has caused a surge in strays and stretched the ARC to its financial limits. «People just can't afford insurance and veterinary care and just to look after their dogs in general,» Bee Lawson, an animal behaviour specialist at the ARC, told AFP. «At the moment, we are just taking in strays because we are experiencing such a high level of dogs coming in.»

quality control orders (QCO) on nickel, copper, and aluminium by six months. The initial date for quality control orders to kick in was December 1, 2023.

pensioners across the country during the recently concluded special campaign, an official statement issued on Friday said. Union Minister of State for Personnel, Public Grievances and Pensions Jitendra Singh complimented the Department of Pension and Pensioners Welfare for the successful conclusion of the nationwide digital life certificates (DLCs) campaign 2.0 from November 1 to 30, it said.

guidelines while accepting foreign hospitality during private visits abroad and obtain prior permission of the central government, according to fresh orders issued Thursday. The series of notifications were issued by the Rajya Sabha Secretariat.

Udaipur (IIMU) has announced that it will set up the JM Financial Centre for Financial Research in collaboration with JM Financial, an integrated and diversified financial services group. The centre will provide scholars in finance and related disciplines access to world-class resources. The JM Financial Centre for Financial Research at IIMU will engage in academic research in finance and related disciplines, conduct annual workshops, and industry talks, and partner with the BFSI sector and regulatory bodies for action research and seminars.

Narendra Modi, which met on Tuesday night, has approved the terms of reference for the 16th Finance Commission, though the government is yet to choose the commission's members, information and broadcasting minister Anurag Thakur said on Wednesday. The cabinet also extended the tenure of the Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY) for another five years from 1 January 2024 and allocated another ₹11,80,000 crore to the scheme, which provides free rations to the poor, Thakur added. The PMGKAY scheme, launched during the pandemic to support people amid lockdowns, has been vital for the poor, the minister said.

Narendra Modi on Tuesday approved partial terms of reference of the 16th Finance Commission to be set up shortly, according to a person informed about the development. The cabinet meeting, however, did not decide on the constitution of the commission, which would entail naming the members and chairperson. The meeting began in the evening and continued till late in the night.