Daily Briefing: Express RTI in Bad Debts under Covid Relief Programme; New Apple Watch Ultra; and more
As Prime Minister Narendra Modi prepares to inaugurate the revamped Central Vista Avenue today, we bring you the best reads from our edition – Express RTI in Bad Debts under Covid Relief Programme; the new Apple Ultra Watch; Bangalore floods and more
Only in the Express
One in six loans disbursed under the Emergency Line of Credit Guarantee Scheme (ECLG Scheme) launched under the Covid-19 relief program in May 2020 has deteriorated in just 27 months, according to information obtained by The Indian Express under the Right to Information Act.
🔴 This indicates continued distress in the micro-small and medium-sized enterprise (MSME) sector.
🔴 The National Credit Guarantee Trustee Company Ltd (NCGTC), which manages and provides guarantees for these loans, said loans to 16.4% of total accounts of 98.86 lakh turned into non-performing assets (NPA ).
🔴 Although the number of loan accounts that have gone bad is high, the number of bad loans is low in terms of value. A banker explained that this is because the initial batch of NPAs came from small loans made earlier in the program.
Express to Cupertino: At the ‘Far Out’ event, Apple launched its Apple Watch Ultra, pushing the boundaries of what a wearable can achieve but also pushing the most popular watch into what used to be its final frontier: the premium segment. range intended for endurance users and athletes.
The big story
The The Income Tax Department conducted “investigations” premises of the Center for Policy Research (CPR), Oxfam India and the Independent and Public Spirited Media Foundation (IPSMF). Officials said the “investigations” could be linked to irregularities in their funding and in action against some unrecognized registered political parties.
From the first page
Under the new railway land lease policythe installation of cargo terminals and cargo-related activities on its land will attract a rate of 1.5% of the current market value of the land per annum, with an annual increase of 6% taking into account inflation, until at 35 years old.
Prime Minister Narendra Modi set to inaugurate new Central Vista Avenue in the heart of the nation’s capital on Thursday evening. The new stretch covers the lawns on either side of Rajpath – now renamed Kartavya Path – from Rashtrapati Bhavan to India Gate, covering approximately 101 acres.
Finance Minister Nirmala Sitharaman said the country’s economic growth remained a priority for the government, while job creation and equitable distribution of wealth were the other priority areas. She pointed out that inflation has come down to “manageable levels”.
Launching his ambitious Bharat Jodo Yatra From Kanyakumari to Kashmir on Wednesday, Congress leader Rahul Gandhi took over the BJP’s “Har Ghar Tiranga” speech, accusing it and the RSS of treating the Tricolor as their “personal property”, and arguing that the national flag is not belongs to anyone in particular religion.
Within seven days, Bangalore has been blocked twice, bringing the city to a standstill, with the 131.6 mm of precipitation the city received on September 5, the highest since the 132.3 mm of precipitation on September 26, 2014. Ecologists and urban experts agree that While the heavy rains of the past few days have contributed to the collapse of Bengaluru’s urban infrastructure, the city has come to a standstill with far less. We speak to some of the most affected.
Twenty out of 131 cities selected by the Union Department of Environment for its National Clean Air Program (NCAP) have achieved national indoor air quality standards (60 micrograms per cubic meter) in 2021-22, compared to their 2017 levels, the ministry revealed on Wednesday. Ninety-five of these 131 cities showed an improvement in air quality, with Varanasi registering the most marked improvement – by 53% – in air quality levels. PM10 data shows that all metropolitan cities including Delhi, Mumbai and Bangalore showed significant improvement in air quality in 2021-22 compared to 2017.
In our opinion section today, MN Sabharwal and Manish Sabharwal write on how a new voters list in Jammu and Kashmir will deepen democracy: “The death of Section 370 must give birth to a new J&K voters list that includes all residents before the new deadline of November 25, because our Constitution was drafted by good ancestors who ensured that India does not weigh our fellow citizens but counts them.
Two days after Prime Minister Narendra Modi announced that 14,500 schools across India will be upgraded to feature components of the National Education Policy (NEP), 2020, the Union Cabinet on Wednesday endorsed the scheme PM SHRI – a new centrally sponsored program under which the initiative will be implemented. What is that? What does this have to do with NEP? We explain.
Express to UAE: No team can do without drama in this Asian Cup. A fourth straight game was decided in the final over. After Pakistan limited Afghanistan to 129/6, the game looked set, Sunday looked set for a Pakistan-Sri Lanka final. But there was a twist, more like a series of twists before Pakistan slipped into the final with a one-wicket victory against a defiant Afghanistan, whose players were reduced to tears.
🤫 Delhi Confidential: During his visit to Mongolia, Defense Minister Rajnath Singh was presented with a horse by Mongolian President Ukhnaagiin Khurelsukh. Singh had received another horse during his last visit to the country in 2018. While the current one – described as a “magnificent beauty” by the minister – is called Tejas, the latest was called Mangal, a “symbol of friendship between India and Mongolia”. Like last time, Singh would leave Tejas in Mongolia itself.
🎧 In today’s episode of Podcast “3 things”we take a look at the challenges that lie ahead for Liz Truss, why Bengaluru has been flooded and how political rivals are coming together in UP.
Sonal Gupta and Rahel Philipose