Rajya Sabha polls 2022: Maharashtra – Big trade, bargain, backbiting

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June 8, 2022

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The Rajya Sabha election has scorched up in Maharashtra, a direct descendant of Chhatrapati Shivaji Maharaj, dropped out of the race. Maharashtra has a 288-member assembly which can elect six seats to Rajya Sabha. Each candidate needs a quota of 42 votes to win. Banking on this calculation, the BJP can safely win two seats, the Shiv Sena one, the NCP one, and the Congress one. The Shiv Sena has fielded one more candidate, banking on extra votes from the NCP and the Congress.

BJP has 105 MLAs while Shiv Sena 55, NCP 53, Congress 44, Bahujan Vikas Aghadi three, Samajwadi Party, AIMIM, and Prahar Janshakti Party two each, MNS, CPM, Peasants and Workers Party, Rashtriya Samaj Paksha, Swabhimani Party, Jansurajya Shakti and Krantikari Shetkari Party one each. There are 13 Independents, while one seat is vacant.

Shiv Sena’s Sanjay Raut and Sanjay Pawar filed their nomination papers for the elections and expressed confidence in winning the Rajya Sabha polls in 2022. Raut said they wanted the polls to be deferred so that there is no horse-trading. BJP has fielded three candidates in Maharashtra for the Rajya Sabha polls. The Shiv Sena leader said Maha Vikas Aghadi (MVA) has four candidates in the Rajya Sabha elections and the ruling alliance will win all four seats.

After the BJP kept 113 MLAs, including their independents, in five-star hotels, criticism also started against them. Shiv Sena also did the same. They locked their MLAs in a five-star hotel. The discussion that Hitendra Thakur, who considers ERV Shiv Sena as his elder brother, will lean towards BJP in Rajya Sabha elections caused a stir in the political circles on Tuesday. He was met by Girish Mahajan, who had brought big leaders from other parties into the BJP.

Rajya Sabha elections in four states on June 10, various parties have accommodated legislators from at least three states in resorts, away from potential poaching by rival parties. A practice frequently seen before Rajya Sabha elections; this underlines the importance parties give to seats in the Upper House.

The tenure of six Rajya Sabha members from Maharashtra — Piyush Goyal, Vinay Sahastrabuddhe and Vikas Mahatme (all three from the BJP), P Chidambaram (Congress), Praful Patel (NCP) and Sanjay Raut (Shiv Sena) ends on July 4. Giving a stern message to the Bharatiya Janata Party (BJP) ahead of the Rajya Sabha elections 2022, the Maha Vikas Aghadi (MVA) coalition of Shiv Sena, Nationalist Congress Party (NCP), and Congress held a show of solidarity on Tuesday night in Mumbai.

The meeting was attended by all the big figures of the MVA coalition, including Sena’s Uddhav Thackeray, NCP’s Sharad Pawar, and Congress leader Mallikarjun Kharge. During the meeting, Thackeray exuded confidence that all four candidates of the MVA will win the Rajya Sabha polls.

Maharashtra is expected to witness fierce competition between the BJP and the ruling MVA. Six seats will fall vacant in Maharashtra and as per the numbers, the BJP will win two seats while the MVA government will bag three seats. A tough competition is expected for the sixth seat between BJP’s Dhananjay Mahadik and Sena’s Sanjay Pawar. Both sides have refused to withdraw their candidates for the sixth seat.

Reportedly, the MVA alliance had tried to reach out to the BJP, asking the saffron party to withdraw its sixth candidate in return for help in the Maharashtra legislative council elections. However, the BJP had rejected the offer after which the Sena shifted its MLAs to a hotel to thwart attempts of poaching.

The Lok Sabha (lower house) and the Rajya Sabha (upper house) are the two houses of India’s Parliament. Currently, the Rajya Sabha has a sanctioned strength of 245 Members of Parliament (MPs). Of them, 233 are elected from states and Union Territories (UTs). India’s President nominates the rest from the fields of art, literature, science and social services. India’s Vice-President is the Rajya Sabha chairperson of the Upper House which also has a Deputy Chair. A critical role of Parliament is to make laws. And no bill has been deemed a law till it has been passed by both houses before being sent to India’s President for his assent. The idea behind having the Rajya Sabha is to ensure richer debates, with the participation of experts from various walks of life, before bills are approved or disapproved.

Lok Sabha MPs have a five-year tenure. They are elected simultaneously. The Lok Sabha is dissolved when national elections are announced. But the Rajya Sabha is never dissolved. Like in the case of the Lok Sabha, each state is allocated Rajya Sabha candidates based on its population. Its MPs are elected by MLAs for six years. Since one-third of them retire every second year, polls are held to fill their vacant seats. In case of death, disqualification or resignation, bypolls are held. A member chosen to fill such a vacancy will serve the remainder of his predecessor’s term.

One might think if a party has more MLAs than others, its Rajya Sabha candidates will definitely win. That’s not necessarily the case. Balloting in Rajya Sabha polls follows a proportional representation principle and a single transferable vote system to ensure only the majority does not dictate the process. Each MLA’s vote is counted once. But MLAs don’t vote for each seat. Instead, they have to list different candidates in order of preference. If a qualifying number of voters choose a candidate as their first choice, he or she is elected. The remaining votes go to the next candidates, but with a lesser value. So, MLAs also vote for candidates from other parties. But MLAs have to show their ballots to an authorised agent from their party to check cross-voting. Independents don’t have to show their ballot.

Kerala gold smuggling case prime accused Swapna Suresh

By

ANI

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June 8, 2022

Former Kerala minister and (M) leader KT Jaleel (photo representation) — Former Kerala minister and (M) leader KT Jaleel (photo credit) Facebook KT Jaleel

Former Kerala minister and CPI(M) leader KT Jaleel on Wednesday filed a police complaint against allegations levelled by Kerala gold smuggling case prime accused Swapna Suresh.

According to Jaleel, there is a conspiracy hatched by Swapna Suresh and former MLA PC George and BJP.

“Allegations against me are baseless. This is a BJP and UDF conspiracy. They are trying to tarnish the image of the existing government. This conspiracy should be investigated,” said Jaleel.

Swapna Suresh had on Tuesday revealed that she has declared in court about the involvement of chief minister Pinarayi Vijayan, his wife and daughter in the 2020 gold smuggling case.

Suresh also alleged that there is a threat to her life and that she has sought protection.

“I have already given 164 statements in court about a threat to my life. I have declared in court about all the people involved in this case. I have also filed a petition seeking protection in court. They are considering it. I have declared in the court about what is the involvement of M Sivasankar (then principal secretary to Kerala CMO), the Chief Minister, CM’s wife Kamala, CM’s daughter Veena, his secretary CM Raveendran, then Chief Secretary Nalini Netto IAS, then minister KT Jaleel,” she said.

Swapna claimed that baggage containing currency was sent to Vijayan when he was in Dubai in 2016.

Earlier today, Kerala Tourism Minister PA Mohammed Riyas said that it was not the first time that Swapna Suresh had made allegations against Chief Minister Pinarayi Vijayan.

“After the government was formed in 2016, this is not the first time allegations are being made. Chief Minister and party Secretary have reacted to this. Our stand is also the same,” said Riyas who is also the son-in-law of CM Pinarayi Vijayan.

Meanwhile, Vijayan had yesterday dismissed Swapna Suresh’s allegations stating that the same statement was being repeated by the accused.

“These comments by the accused are part of the political agenda. The public had already dismissed this agenda. After an interval, they are making the accused repeat the same statement. There is not even an iota of facts in this allegation. If you think that by spreading these lies, you can destroy the determination of the government and political leadership, I am reminding you that this is a futile exercise,” he said.

“I strongly believe that society will give an apt reply to those who think that they can benefit from this,” the Chief Minister added.

Stating that the public will dismiss the “fake allegations” aimed at tarnishing his government, Vijayan said that it works for the “comprehensive development and social welfare of Kerala”.

Rajya Sabha Election 2022 – The sixth Rajya Sabha seats are from Maharashtra

By

Afternoon Voice

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June 8, 2022

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Amid the hype about the contest for the sixth Rajya Sabha seat from Maharashtra, chaotic lobbying is also on in the Shiv Sena for a nomination to the Member of Legislative Council (MLC). According to Sena functionaries, Sachin Ahir from Mumbai and Amsha Padvi from Nandurbar are frontrunners. Two senior Sena MLCs, Diwakar Raote and industries minister Subhash Desai, are retiring.

While the party will drop Raote, who was transport minister in the previous Sena-BJP government, a decision is yet to be taken on renominating Desai, a sitting minister in the Maha Vikas Aghadi (MVA) government and a key coordinator. A source said the party is likely to drop at least one of the veterans; chief minister Uddhav Thackeray will take a decision on this.

Ahir, who was in the NCP, joined the Sena before the 2019 assembly polls but did not contest from Worli seat. Aaditya Thackeray won the seat by a large margin. But the party is clear that it will nominate a common Shiv Sainik just like Kolhapur district unit chief Sanjay Pawar is the nominee for the Rajya Sabha polls.

KC Padvi is the tribal development minister in the current MVA government. The MVA is once again pitted against the BJP for 10 seats in the Maharashtra Legislative Council elections on June 20. The electoral college comprises the 288 members of the Maharashtra Legislative Assembly. “Each candidate needs a quota of 27 votes to win. The Sena has enough votes to get its two candidates elected. The party is clear that it will pick hard core party workers over celebrities,” the Sena functionary said.

Just days ahead of the crucial Rajya Sabha elections, the familiar “resort politics” has begun with the ruling Maha Vikas Agadi in Maharashtra corralling its MLAs to a five-star hotel in south Mumbai as part of a strategy to ward off poaching.

Earlier, both Congress and BJP had shifted their MLAs to different resorts in Rajasthan and Haryana to eliminate the possibility of cross-voting. Elections will be held on June 10 to fill 57 Rajya Sabha seats from 15 states falling vacant due to the retirement of members on different dates between June and August. Prominent among those retiring is Union minister Mukhtar Abbas Naqvi, Congress leaders Ambika Soni, Jairam Ramesh and Kapil Sibal, and BSP’s Satish Chandra Misra.

While 11 seats are falling vacant in Uttar Pradesh, six members each are retiring from Tamil Nadu and Maharashtra, five from Bihar and four each from Andhra Pradesh, Rajasthan and Karnataka. Three members each from Madhya Pradesh and Odisha, two each from Telangana, Chhattisgarh, Punjab Jharkhand and Haryana, and one from Uttarakhand are also retiring.

A race is on for electing the rest 16 MPs from four states – Maharashtra, Rajasthan, Karnataka and Haryana. The elections to fill 57 Rajya Sabha seats across 15 states will be held on June 10 and the results will be declared the same day. While the BJP’s tally is likely to remain 100, the Congress’ share in the Upper House may increase by a couple of seats.

Elections to the seats that will fall vacant because of the retirement of members on different dates between June and August. Prominent among those retiring are Union ministers Piyush Goyal and Mukhtar Abbas Naqvi, Congress leaders Ambika Soni, Jairam Ramesh and Kapil Sibal, and BSP’s Satish Chandra Misra. Rajya Sabha Chunav 2022: States going to polls.

While 11 seats are falling vacant in Uttar Pradesh, six members each are retiring from Tamil Nadu and Maharashtra, five from Bihar and four each from Andhra Pradesh, Rajasthan and Karnataka. Three members each from Madhya Pradesh and Odisha, two each from Telangana, Chhattisgarh, Punjab Jharkhand and Haryana, and one from Uttarakhand are also retiring.

Here is a list of states going to the polls on June 10:

Uttar Pradesh – 11
Maharashtra – 6
Tamil Nadu – 6
Bihar – 5
Rajasthan – 4
Andhra Pradesh – 4
Karnataka – 4
Madhya Pradesh – 3
Odisha – 3
Punjab – 2
Haryana – 2
Jharkhand – 2
Telangana – 2
Chhattisgarh – 2
Uttarakhand – 1

Rajya Sabha Elections 2022: Where numbers stand

Maharashtra

In Maharashtra, the ruling coalition Shiv Sena-NCP-Congress coalition has the strength to ensure its victory in all the three seats it holds, while the BJP can comfortably win two of its three seats.

The six Rajya Sabha MPs to be elected from the states would require 42 votes to win. The ruling MVA has 151 votes which are enough to win three seats, but it has fielded four candidates. On the other hand, the BJP gas 106 MLAs and can win two seats but has fielded three candidates.

The MVA needs 15 more votes to secure the seat, which BJP would bag with 13 more seats. Both the MVA and the BJP are reaching out to smaller parties and Independents — a group of 25 MLAs.

The BJP currently has 95 MPs and the Congress 29 in the 245-member house. The BJP will suffer losses in Andhra Pradesh, where it has three outgoing members, Jharkhand and Rajasthan but is hopeful of making upto for its in states like Uttar Pradesh and Uttarakhand, where it recently retained power.

The saffron party crossed an important milestone when it touched the 100 marks in the Rajya Sabha, a feat achieved by the Congress in 1988. It hopes to be close to the magic figure of 123 along with allies to complete its poll promises. The Akali Dal’s lone member from Punjab Balwinder Singh Bhunder and Congress’ Ambika Soni are likely to make way for members from the Aam Aadmi Party whose huge strength in the assembly will ensure that it wins both seats.

Five BJP MPs are among the 11 retiring Rajya Sabha members from UP, and the party along with its allies is in a position to win eight seats, while the opposition Samajwadi Party may retain its tally of three. The elections are also likely to see the BSP’s presence in the upper house reducing to a mere one.

Karnataka

Given their strength, the BJP with 121 MLAs and Congress with 70 members are sure to win two seats and one seat respectively. The contest will be for the fourth seat. Despite lacking the numbers to win a Rajya Sabha seat, the JD(S) with 32 MLAs has fielded its lone candidate, Kupendra Reddy.

There’s an all-out fight for the fourth seat between Lehar Singh Siroya (BJP), Mansoor Ali Khan (Congress) and the JD(S) candidate. Interestingly, none of the three parties have the required votes to win the fourth seat, which is why they are reaching out to one another seeking support.

Haryana

The entry of media baron Kartikeya Sharma, who is supported by both the JJP and the BJP — has made the contest close in the state. Sharma’s entry has queered the pitch for Congress’ Ajay Maken who is eyeing a second term in the Upper House.

Sharma needs 31 votes to win — four more than the surplus of the BJP-led alliance. Congress has 31 but fears cross-voting from its camp. JJP leader Ajay Singh Chautala has said all 10 MLAs of the party will support Sharma.

Rajasthan

The entry of another media baron Subhash Chandra, who is backed by the BJP, has made the contest close for the fourth seat where Chandra will be challenging Congress’ Pramod Tiwari.

In the 200-member Rajasthan assembly, each candidate needs 41 votes to win.

The Congress has 108 MLAs and the BJP has 71 votes. The BJP has 30 surplus votes and to win a second seat, it needs another 11. To win the third seat, Congress needs 15 more votes. Smaller parties and independents will, therefore, play a critical role in who wins the seat.

Not a single NEET PG seat should go waste

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ANI

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June 8, 2022

Supreme Court Of India (photo representation ) — Supreme Court Of India , photo for representation (photo credit ANI)

The counsel appearing for MCC sought time to file an affidavit regarding this. The MCC counsel also said that 2022 counselling will get delayed and there will be a cascading effect.

The Supreme Court on Wednesday asked the Medical Counselling Committee (MCC) to ensure that not a single National Eligibility cum Entrance Test (Postgraduate) or NEET PG seat should go waste while slamming the board for “playing with the future” of medical students.

The court lashed out at the MCC, saying that you are “playing with the future of students”.

The top court has also asked the MCC to file an affidavit on the plea seeking to conduct a Special Stray Round of counselling to allow the candidates to participate in the vacant seats which are available after the conduct of the stray vacancy round of All India Quota (AIQ).

The vacation bench of Justices MR Shah and Aniruddha Bose asked counsel for MCC and Centre to file an affidavit today during the course of the day explaining why seats were vacant.

The court listed the matter tomorrow for further hearing.

During the hearing, the court expressed dismay to hear that 1,456 seats have remained vacant.

The court sought to know why there is no streamlining process and questioned, “Do you know the stress level of students?”

The court also expressed disappointment when it came to know that the MCC was aware of the vacant seats in May and asked, “What will you get by keeping seats vacant when we need doctors and super-specialists?

The court was hearing a plea seeking to direct the Respondent–Medical Counselling Committee (MCC) to conduct a Special Stray Round of counselling to allow the candidates to participate in the vacant seats which are available after the conduct of stray vacancy round of All India Quota (AIQ).

The petitioners were represented by advocate Milind Kumar Advocate.

The petitioners appeared in NEET-PG 2021-22 and participated in Rounds 1 and 2 of All India Quota (AIQ) Counselling and State Quota Counselling which was followed by All India Mop-Up and State Mop-Up Rounds and was concluded on May 7, 2022 by Medical Counselling Committee post the All India Stray Vacancy Round.

The petitioners were not able to secure a seat in any of the rounds. They claimed that they are aggrieved by the counselling process which was conducted by MCC in a manner that all the vacant seats were not a part of the stray vacancy round of the counselling.

They said that the cause of action for filing the present Writ Petition arose on May 11, 2022 when the petitioners received a reply to the RTI they had filed wherein it was stated that “At the time of online allotment process all medical/dental post-graduate seats were exhausted but due to non-joining, resignation, and non-reported some seats remained vacant”. However, official data has not been provided, the petitioners said.

Hence, the petitioners have sought to direct MCC to provide the exact number of vacant seats after the conduct of the stray vacancy round of AIQ and to conduct a Special Stray Round of counselling to allow the candidates to participate in the vacant seats which are available after the conduct of stray vacancy round of AIQ.

Be a part of World Ocean Day 2022

By

Akash Nirmal

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June 8, 2022

jay shringarpure, environmentalist, world ocean day — Be a part of World Ocean Day 2022 9

Today we celebrate the World Ocean Day. In the year 1992, in Global forum to have celebrated this day to provide platform to the NGO’s speaking on environmental issues. Almost, over 70% of our Earth is covered by the Ocean that comprises over 95% of the total planet water. Ocean produces 50% of the Plane’s oxygen and it is the major source of protein for the people living on Earth.

The sea has employed millions of people around the world through various means. From mining the ocean resources like pearls, oils and minerals and the supply of seafood Ocean plays an inevitable role in human lives. India also joins the clean Sea Campaign in February 2017, launched by United Nations Environment Programme (UNEP). Let’s all be a part of something great and take a pledge to always keep our Oceans clean.

Our correspondent Akash Nirmal spoke to Jay Shringarpure one of the renowned social activists and environmentalist from Mumbai, here are excerpts of the interview:

What Indians can do to make our ocean clean?

It should start from our home. If we segregate our home dry and wet waste and remove plastic from dry waste, then recycle plastic. It will never reach to the ocean. My team is already working towards the plastic that is already available in and around Ocean. We have started from Dadar beach, going towards Mahim beach and now we are working on 40 beaches in Maharashtra. We are also creating the awareness through Social media, college visits and going door to door to recycle their plastic waste.

What are your suggestions to those who eat food from the stall on the ocean area and throw the waste into the ocean? How to manage that?

In foreign countries, they have herbal connected to their beach. But they know how to manage their waste. BMC should be able to tell the food stall how they can manage their waste and support them. Like in Goa, they also have beaches but their oceans are clean because they know how to manage their waste and not throw in the ocean.

What action government can take against serial offenders?

Indian lacks bio waste management as compared to western countries. For example, in countries like Australia, New Zealand and Dubai, if people are throwing waste in an ocean, they are fined and punished. In India we do not have such strict rules and the deterrence for law, here people take instructions casually. Government need will to deal with such issues with strong laws and vigilance. Meanwhile, people too should understand their asocial responsibility. It is the matter of civic sense.

Monetary, fiscal authorities taking steps to moderate inflation, push growth: DEA Secy

By

PTI

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June 8, 2022

inflation, Monetary, economy, business, gdp, — Image: PTI

Monetary and fiscal authorities are taking steps to moderate inflation and push growth, Department of Economic Affairs Secretary Ajay Seth said on Wednesday.

His comments came in the backdrop of the Reserve Bank of India (RBI) hiking key interest rates by 50 basis points to tame inflation. The central bank also upped the inflation projection to 6.7 per cent while maintaining the growth estimate at 7.2 per cent for the current fiscal.

“There are domestic challenges and larger ones are there in the global scenario. Whatever it takes for monetary and fiscal authorities, those actions are being taken. We (are working) to moderate the inflation (and) at the same time keep the growth efforts as earlier,” Mr Seth told reporters.

He was responding to questions on the RBI decision on the interest rate front.

Mr Seth said that apart from growth and inflation, the authorities are also working on management of the rupee and keeping fiscal balance. Both monetary and fiscal authorities are working towards that goal, he added.

“There cannot be any copybook solution. As new information emerges, they are analysed and whatever it takes to meet those challenges those measures will be taken,” he added.

Al Qaeda suicide attack note leaves Central agencies to look upon grievously

By

ANI

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June 8, 2022

AL-QAEDA-REPRESENTATIONAL-IMAGE — Representational Image, Photo Source: Reuters

Central agencies are “seriously” looking into the threat letter sent by terror outfit Al-Qaeda regarding suicide attacks in Delhi, Mumbai, Uttar Pradesh and Gujarat to “fight for the honour of the Prophet”, said top agency sources.

Alerts have been issued across Delhi, Mumbai, Uttar Pradesh and Gujarat through law enforcement agencies to strict the vigil at specific locations like airports, metro, railway stations and market areas, said the source, privy to the development.

“Security personnel have been instructed to report to the concerned department soon after noticing any suspicious activity,” the agency said. In a threat letter dated June 6, Al-Qaeda said it would launch suicide attacks in Delhi, Mumbai, Uttar Pradesh and Gujarat to “fight for the honour of the Prophet”.

The letter comes in light of the controversy that has erupted after a few Bharatiya Janata Party leaders made controversial remarks on the Prophet Muhammad. “We shall kill those who affront our Prophet and we shall bind explosives with our bodies and the bodies of our children to blow away the ranks of those who dare to dishonour our Prophet… The saffron terrorists should now await their end in Delhi, Bombay, UP and Gujarat,” the letter read.

Over the last few days, several countries such as Malaysia, Kuwait and Pakistan condemned recent remarks made by a few BJP leaders on Prophet Muhammad. While Nupur Sharma made comments during a TV debate, another leader Naveen Jindal posted a controversial remark on Twitter.

India, meanwhile, has maintained that the views belong to a few fringe elements only and do not represent those of the Government of India. India also “categorically rejected” the Organisation of Islamic Cooperation (OIC) statement slamming India as “unwarranted and narrow-minded”.

Earlier, the BJP suspended spokesperson Nupur Sharma and expelled media in-charge, Naveen Jindal, over the remarks. The party issued a statement emphasising its intolerance for disrespect of any religious personality.

Lalu Prasad Yadav fined Rs 6,000 in the 2009 model code violation case

By

PTI

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June 8, 2022

lalu prasad yadav, lalu, ed, 2009 elections, rjd — Image: PTI

RJD chief Lalu Prasad Yadav was fined Rs 6,000 by a court in Jharkhand’s Palamu district on Wednesday for violating the model code of conduct during the 2009 assembly elections in the state.

Appearing in the court of judge Satish Kumar Munda, Prasad confessed and accepted that he violated the model code of conduct.

Judge Munda imposed a fine of Rs 6,000, which was deposited on behalf of Prasad.

Subsequently, the matter was disposed of.

While campaigning for the 2009 assembly elections, Prasad’s chopper had landed in a paddy field in Garhwa allegedly owing to the mistake of the pilot instead of the helipad in Medininagar.

A case under IPC sections 188 (disobedience to order duly promulgated by public servant), 279 (rash driving or riding on a public way), 290 (punishment for public nuisance), 291 (whoever repeats or continues a public nuisance) and 34 (acts done by several persons in furtherance of common intention), and section 127 of Representation of People’s Act that deals with disturbances at election meetings.

Prasad’s counsel Prabhat Kumar said the case was later transferred to Ranchi and then to Medininagar.

The supporters of the former Bihar chief minister, who gathered outside the court, welcomed the verdict and garlanded their leader.

RJD’s Palamu district unit president Ramnath Chandravanshi said Prasad will soon leave for Patna.

Sub-divisional police officer (SDPO) Surjit Kumar said tight security arrangements were made for Prasad in the court. Traffic was regulated in the area.

Prasad had arrived in Medininagar, the district headquarters of Palamu, on Monday for appearing before the court. During his stay at the circuit house, a fan in his room caught fire but was swiftly doused by his aides in a close shave for the 73-year-old leader.

“I think I will sign up for this….get my study to look better!!,” says Shahrukh Khan to his wife Gauri Khan as she post on Instagram

By

ANI

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June 8, 2022

SRK and Gauri at one of the functions in Mumbai - PTI (Photo for representation only) — Gauri Khan and Shahrukh Khan at one of the functions in Mumbai – PTI (Photo for representation only)

Shah Rukh Khan who is set to return to the big screen after a hiatus of more than three years, never misses an opportunity to delight his fans.

This year King Khan has announced three big releases and while his fans are waiting with bated breaths for the films to hit the box office, his small interaction with his wife Gauri Khan on Instagram has left fans in awe of the power couple.

Gauri, who is an interior designer, recently posted a video on Instagram announcing a masterclass on the interior design and decor platform. The star wife informed about the topics she will be covering in the masterclass and wrote “A sneak peek into my class on residential design @thedesignersclass.

SRK Comment on Gauri Khan's Instagram post for Residential Designing Tips and Tricks — SRK Comment on Gauri Khan’s Instagram post for Residential Designing Tips and Tricks

Learn the tips and tricks of residential design and get exclusive tips and tricks from me.

” SRK, who is known for his witty sense of humor, reacted to Gauri’s post. He commented, “I think I will sign up for this….get my study to look better!!.”

Policy Repo Rate to increase by 50 basis points to 4.9 per cent: RBI

By

ANI

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June 8, 2022

Image of RBI Governor Shaktikanta Das, (Photo Source: PTI)

The Reserve Bank of India (RBI) on Wednesday announced to increase the policy repo rate by 50 basis points to 4.9 per cent, the second hike in five weeks aimed at quelling the inflation.

The MPC vote was unanimous and has decided to keep stance withdrawal from accommodative, RBI Governor Shaktikanta Das said in a press conference today. The decision was taken during a three-day meeting of the RBI’s Monetary Policy Committee (MPC) to review the interest rates in the country. “The MPC voted unanimously to increase the policy repo rate by 50 bps to 4.90 per cent,” Das said.

“Consequently, the standing deposit facility – the SDF rate – stands adjusted to 4.65 per cent and the marginal standing facility – MSF rate and bank rate – to 5.15 per cent,” he said. Last month, in its off-cycle monetary policy review the central bank hiked the policy repo rate by 40 basis points or 0.40 per cent to 4.4 per cent.

This was the first increase in the policy repo rate in nearly two years. The repo rate is the interest rate at which the RBI lends short-term funds to banks. Inflation has been above the RBI’s 2-6 per cent target band since the beginning of this year.

As per the latest available data, India’s Consumer Price Index (CPI) based inflation surged to an eight-year high of 7.79 per cent in April. It has been above 6 per cent since January 2022. Consumer Price Index (CPI) inflation in April 2022 is the highest since May 2014, when it stood at 8.33 per cent.

Bank of America Securities said in a research note that the retail inflation is likely to be around 7.1 per cent in May. CPI-based inflation is likely to average 6.8 per cent during the current financial year, Bank of America Securities said.

In April, the RBI revised upward the inflation forecast for the current financial year to 5.7 per cent from its earlier projection of 4.5 per cent announced in February. According to Bank of America Securities, the RBI is likely to further raise its inflation expectation for the current financial year to 6.5 per cent. The RBI is likely to do this upward revision in inflation projection either next week or in August.