Author: Rasmita Jena

  • Puducherry Schools Closed Amid Cyclone Fengal’s Heavy Rain and Flooding

    Puducherry Schools Closed Amid Cyclone Fengal’s Heavy Rain and Flooding

    Due to heavy rain from Cyclone Fengal, all government and private schools, along with colleges in Puducherry, will be closed on Tuesday, December 3. Education Minister A. Namachivayam made this announcement.

    To help those affected by the cyclone, Chief Minister N. Rangaswamy shared that the government will give relief money of ₹5,000 to every household with a ration card that was impacted. Puducherry received a surprising 48% more rain than usual, which damaged about 10,000 hectares of crops. Farmers who lost their crops will receive ₹30,000 for each hectare impacted.

    Cyclone Fengal has caused a lot of damage in both Puducherry and Tamil Nadu. Flooding has damaged 50 boats, and the government will also provide ₹10,000 to help with repairs.

    In particular, the Sankaraparani River in Puducherry saw severe flooding. Over 200 homes in NR Nagar were underwater, leaving many residents stranded. The Indian Army and the National Disaster Response Force (NDRF) are working hard to rescue those in trouble, using boats to navigate the flooded areas and bring people to safety.

  • Asian Stocks Surge Following US Tech Rally – What to Expect in December?

    Asian Stocks Surge Following US Tech Rally – What to Expect in December?

    Asian stock markets went up after good news from Wall Street, where top technology companies helped stocks reach new highs. Japan and South Korea saw their stock indexes rise, and Australian shares also went up. Futures for Hong Kong and the US markets stayed steady. Now, all eyes are on upcoming financial reports and comments from the Federal Reserve (Fed), which will help us understand what might happen with interest rates.

    The S&P 500, a big US stock index, hit another record high for the year, while the tech-focused Nasdaq 100 gained over 1%. The US dollar ended its three-day drop after President-elect Donald Trump warned nations in the BRICS group about their economies. Meanwhile, French stocks and bonds faced pressure as the euro dropped by 1.1% due to political issues in the country.

    Traders are preparing for a busy week of important economic data, especially Friday’s jobs report, which is expected to show an increase in US hiring after problems from hurricanes and a major strike. On Wednesday, Fed Chair Jerome Powell will speak, and investors are hoping for updates about the job market and inflation.

    This week is really important for economic data, according to Tom Essaye from The Sevens Report. If the news is positive, it could lead to a gentle slowdown in the economy and a potential interest rate cut in December. Currently, the S&P 500 increased by 0.2%, while the Nasdaq 100 rose by 1.1%. Tesla Inc. saw a drop in after-hours trading after a judge rejected a huge pay package for its CEO, Elon Musk. The Dow Jones Industrial Average went down by 0.3%, and Treasury yields increased.

    In a move aimed at limiting China’s tech advancements, the US announced new restrictions on China’s access to important parts needed for chips and AI. These new rules could impact companies like SK Hynix and Samsung in South Korea, as well as Micron Technology in the US.

    Chinese investors are anxious for signs of government help to boost their struggling economy, especially since there was no update after a major meeting of the Communist Party. They are looking forward to the upcoming Politburo gathering, which usually focuses on economic issues.

    In Europe, political tensions are rising as Marine Le Pen has threatened to bring down Prime Minister Michel Barnier’s government due to budget disagreements.

    Back on Wall Street, the mood is optimistic. Fed’s Waller mentioned he might support a rate cut later this month, which is in contrast to concerns from a year ago when many feared a tough 2024 for the economy and stock market. A lot of people now believe the stock market will end the year strong.

    Experts suggest we are in a “Goldilocks” zone, where the economy is good enough to support company earnings but also weak enough to allow for rate cuts. December historically brings good market performance, especially when stocks have done well earlier in the year.

    According to Bespoke Investment Group, when the S&P 500 is up more than 20% through November, it usually gains about 1.77% in December.

  • India to Launch ₹1000 Crore Fund for Space Startups by FY26

    India to Launch ₹1000 Crore Fund for Space Startups by FY26

    The Indian government plans to start giving out a huge fund of Rs 1000 crore (about $120 million) to help space companies. This money is part of a special program to support people and businesses working in the space sector. Pawan Goenka, a top official, said that this funding is likely to be available starting in the first part of the financial year 2026 (FY26).

    This initiative will help new space companies grow and create new technologies. It is also important for improving India’s position in the global space market. The fund is designed to encourage innovation and help startups turn their ideas into successful businesses.

    If you are interested in the space industry or have ideas for space technology, this could be a great opportunity for you!

  • Bank of America & Goldman Sachs Invest Big in Home First Finance!

    Bank of America & Goldman Sachs Invest Big in Home First Finance!

    Recently, some well-known financial companies, like Bank of America and Goldman Sachs, bought a lot of shares in Home First Finance. They spent around ₹1,100 crore (which is a huge sum of money!) to do this.

    A block deal is when big investors buy or sell a lot of shares at once, and this was a big one! Share prices changed a bit after the news was revealed.

    This is exciting for Home First Finance, showing that these big companies believe in their future. Investors are eager to see how this will affect the company and its share prices in the upcoming days.

  • RBI Confirms 98% Rs 2,000 Notes Returned: What You Need to Know!

    RBI Confirms 98% Rs 2,000 Notes Returned: What You Need to Know!

    On Monday, the Reserve Bank of India (RBI) announced that nearly all Rs 2,000 notes have been brought back to banks. Specifically, 98.08% of these notes have been returned, which means only about Rs 6,839 crore worth of Rs 2,000 notes are still held by the public.

    On May 19, 2023, the RBI decided to stop using Rs 2,000 notes. Back then, there were about Rs 3.56 lakh crore in these notes. By November 29, 2024, that amount has dropped significantly to just Rs 6,839 crore.

    People could deposit or exchange their Rs 2,000 notes at banks until October 7, 2023, but they can still do this at 19 RBI branches across the country. Since October 9, 2023, these RBI branches are also allowing individuals and businesses to deposit Rs 2,000 notes into their bank accounts.

    Additionally, you can send Rs 2,000 notes via India Post from any post office to any RBI branch for deposit into your bank account. Remember, Rs 2,000 notes remain legal money!

    The RBI branches for exchanging notes are located in cities like Ahmedabad, Bengaluru, Mumbai, and New Delhi, among others. These Rs 2,000 notes were first introduced in November 2016 after the government discontinued the old Rs 1,000 and Rs 500 notes

  • Unlocking Farming: The New Digital IDs for 11 Crore Farmers

    Unlocking Farming: The New Digital IDs for 11 Crore Farmers

    The Indian government has exciting plans to support farmers by giving them digital identity cards. This initiative is part of a larger project called the ‘Digital Agriculture Mission.’ The mission aims to improve different digital farming efforts, such as gathering reliable information about crops and helping farmers access government support more easily.

    What are Farmer IDs?

    A key part of this plan is the ‘Farmer ID.’ Think of it like an Aadhaar card for farmers, which acts as a safe and simple way to identify them. Each ID will be created and managed by the State Governments and will include important information about farmers, like the land they own, the animals they keep, the crops they grow, and the benefits they receive from the government.

    So far, 19 states have joined forces with the Ministry of Agriculture to make this happen. Six states—Uttar Pradesh, Gujarat, Maharashtra, Haryana, Punjab, and Tamil Nadu—are testing Farmer IDs to see how they work and gather data about crops.

    Big Goals Ahead

    The government plans to create digital identities for 11 crore farmers over the next three years. This means 6 crore farmers in 2024-25, 3 crore in 2025-26, and 2 crore in 2026-27. In the recent budget, funds were allocated for better information systems for agriculture, ensuring farmers have up-to-date information about various topics, such as livestock and soil health.

    What’s the Government’s Aim?

    Once farmers are registered, they will receive a unique ID, just like Aadhaar. This ID will make it easier for them to access important government programs, like the Minimum Support Price (MSP) and Kisan Credit Card programs. Currently, farmers often face long and troublesome verification processes each time they need help, which can be stressful and costly. The new registration plan aims to simplify this process.

    The Secretary of Agriculture, Devesh Chaturvedi, highlighted that the new farmer registry would gather more thorough information than ever before. While current data focuses on just the land and crops, the new system will look at individual farmers in more detail.

    Chaturvedi also encouraged farmers, scientists, and companies to help raise awareness about the registration process. Camps will be set up nationwide to assist farmers in signing up.

    In addition to these steps, the government is developing new technology, like an AI chatbox for farmers, to improve support and services.

  • UAE Offers to Host India-Pakistan Cricket Match for ICC Champions Trophy 2025

    UAE Offers to Host India-Pakistan Cricket Match for ICC Champions Trophy 2025

    UAE’s Ambassador to India, Abdulnasser Alshaali, announced that the UAE is ready to host the exciting cricket match between India and Pakistan. This comes after the Board of Control for Cricket in India (BCCI) said they would not go to Pakistan for the ICC Champions Trophy 2025. On the other hand, the Pakistan Cricket Board (PCB) wants to host the entire tournament in Pakistan.

    Recently, sources revealed a new plan: India will play all their ICC matches that are supposed to be in Pakistan, in Dubai. Likewise, Pakistan will play their matches in Dubai that are scheduled for India. This plan will be in effect for three years, starting with the Champions Trophy 2025.

    While discussions are ongoing on how to hold the tournament, Abdulnasser Alshaali mentioned that the UAE is eager to host the India-Pakistan match. He said, “Why wouldn’t we? We have always hosted such games and we are open for sports.”

    Just last week, the International Cricket Council (ICC) had a meeting to discuss the future of the Champions Trophy, which is set to take place in Pakistan. However, PCB chairman Mohsin Naqvi rejected the idea of a “hybrid model,” implying that decisions should be fair to everyone involved. He stated, “We will do what’s best for cricket, and if a new formula is proposed, it must be equal.”

    Due to ongoing political issues, India has not played a cricket match in Pakistan since 2008 when they participated in the Asia Cup. Their most recent complete series was in 2012-13 in India. Since then, India and Pakistan have mostly played against each other in ICC tournaments and Asia Cups.

    India’s Ministry of External Affairs has also mentioned security concerns, making it unlikely for the Indian team to travel to Pakistan.

  • Priyanka Gandhi’s Promise: Tackling Wayanad’s Night Traffic Ban Issues

    Priyanka Gandhi’s Promise: Tackling Wayanad’s Night Traffic Ban Issues

    Priyanka Gandhi Vadra, the AICC general secretary and newly elected MP, recently visited Wayanad, Kerala, where she promised to help lift the ban on night traffic on the highway passing through the Bandipur tiger reserve. This highway connects parts of Karnataka and Kerala, and local drivers have been facing a nine-hour traffic ban that makes travel difficult.

    In preparation for the upcoming bypolls on November 13, Karnataka’s Deputy Chief Minister, DK Shivakumar, also spoke to Wayanad voters, saying that his government would look into this important issue. He mentioned that discussions had already taken place with Kerala’s Chief Minister, Siddaramaiah, about easing the restrictions. He assured the voters that officials from both states would meet to talk about the situation after the bypoll.

    Residents from all seven assembly segments in Wayanad are urging for the ban to be lifted, as it would help many people. The two taluks in Wayanad, Sulthan Bathery and Mananthavady, are linked to Karnataka’s Bandipur and Kakanakote forests. Currently, night traffic isn’t allowed in these areas.

    The Karnataka government put this traffic ban in place ten years ago to protect wildlife, and it was backed by the high court. Officials say that about 7,000 vehicles use these highways during the day. They believe lifting the ban could harm local animals, with some even suggesting extending the ban to 12 hours starting at 6 PM.

    Rahul Gandhi, who was also an MP for Wayanad, had previously supported local demands to end the night ban. His supporters even went on a hunger strike for this cause. Kerala CM Pinarayi Vijayan has stated that the ban is creating problems for people living in Wayanad and nearby areas. People in Wayanad have protested by marching to the Karnataka border, asking for the ban to be lifted. So far, Karnataka hasn’t shown much interest in changing the rules.

  • Nasa’s Exciting Experiments with Artificial Clouds Revealed!

    Nasa’s Exciting Experiments with Artificial Clouds Revealed!

    NASA is conducting exciting experiments to make artificial clouds high in the sky! These clouds are made by releasing special chemicals like trimethyl aluminum (TMA) from rockets. They help scientists learn more about Earth’s atmosphere, which is the area surrounding our planet.

    When these chemicals are released between 80 to 400 kilometers up in the air, they create glowing trails. These bright trails allow scientists to see how air moves and changes in the atmosphere. NASA says that these substances are safe for the environment and are only released in small amounts, much higher than where airplanes fly.

    The main purpose of these experiments is to understand important things like how energy moves in the air, what happens between different gases, and how these things can affect space weather. This is key information for knowing how solar activity can impact satellites and technology on Earth.

    NASA is also doing related research, like studying gamma rays during thunderstorms, to improve our understanding of Earth’s atmosphere. They carry out these experiments all over the world, launching special rockets from different locations suited for each study. Recently, they did some cloud experiments over Norway, but they have no plans to do any over France soon.

    NASA is careful about being transparent and ensures that their experiments do not harm the environment. If they changed the natural conditions too much, it would mess up their research. While some people are worried and think these clouds might be harmful or that NASA is changing the weather, the agency is focused on understanding the mysteries above us.

  • Congress Criticizes Government for Slowing GDP and Manufacturing Growth

    Congress Criticizes Government for Slowing GDP and Manufacturing Growth

    On Monday, Congress MP Jairam Ramesh criticized the Indian government for not helping private investment in manufacturing. He made this statement after a report showed that the Indian economy grew by only 5.4% from July to September 2024. This is a big drop compared to last year when it grew by 8.1%.

    Ramesh pointed out that the government’s promises, like tax cuts and incentives for production, do not match reality. He said, “Make in India has turned into Make-Believe in India.” He also mentioned that manufacturing growth has slowed down to just 2.2%.

    Exports are also troubling, growing by only 2.8%. This shows that the Prime Minister’s goal of making India a global manufacturing hub has not been achieved. According to Ramesh, the “Make in India” program started ten years ago, but manufacturing and exports are still struggling.

    He highlighted that the share of manufacturing in India’s economy has dropped from 18.1% in 2011-12 to 14.3% in 2022-23. Ramesh raised concerns about unemployment too, pointing out that jobs in manufacturing have decreased from 51.3 million in 2017 to 35.65 million in 2022-23.

    In specific sectors like garments, exports fell from $15 billion in 2013 to $14.5 billion in 2023. Meanwhile, countries like Bangladesh and Vietnam have passed India in garment exports.

    Ramesh also linked the problem to cheap imports from China, stating that many small businesses in India have closed because they cannot compete. He said that over a third of small businesses making stainless steel in Gujarat have shut down due to these imports.

    Lastly, Ramesh compared the current situation to when Manmohan Singh was Prime Minister, noting that India’s share of global exports grew much faster during that time. The latest reports show that India’s GDP in the second quarter of the current financial year is estimated at ₹44.10 lakh crore, a moderate growth compared to last year’s figures, but much less than the Reserve Bank of India’s prediction of 7%.