BackAs Budget session reconvenes, the heat is on in Parliament and outside
The market is keenly watching policy decisions by the US Federal Reserve and the Bank of Japan this week
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New Delhi: As the country reels under severe heat wave conditions, the second part of the Budget session of Parliament convening on Monday is expected to discuss the Uttarakhand crisis. In other news, the market is keenly watching policy decisions by the US Federal Reserve and the Bank of Japan this week, while microlender Ujjivan Financial Services comes out with its initial public offer on 28 April.
Heat wave persists
No respite is in sight from the ongoing heat wave till 27 April, as the India Meteorological Department has issued severe heat wave or heat wave warnings for parts of Odisha, Jharkhand, Telangana and Rayalaseema in Andhra Pradesh.
Mercury continued to soar on Sunday in major parts of the country with Odisha’s Titlagarh scorching at 48.5 degrees Celsius even as four districts in Assam were hit by the first wave of floods affecting around 45,000 people. Titlagarh has been experiencing extreme heat for the past several days and Sunday the town recorded its highest temperature for the month of April in the last 17 years.
The Washington Post quoted figures the Indian government reported to the Supreme Court to say that India is in the grips of a monstrous pre-monsoon heat wave that has killed more than 160 people in recent weeks. “The majority of the deaths have been in the southern states of Andhra Pradesh and Telangana, but soaring temperatures have compounded ongoing drought and water shortages across the country and threaten to affect as many as 330 million people," it reported.
Second part of budget session starts
The imposition of President’s Rule in Uttarakhand is set to dominate the second part of Parliament’s budget session that begins today. With the Congress pushing for discussion on the issue in both houses first before any other issue, a question mark has been placed over the fate of the legislative agenda lined up by the government. Read more
Uttarakhand crisis case to be heard on 27 April
The Supreme Court last week revived central rule in Uttarakhand, staying the hard-hitting Uttarakhand high court verdict until 27 April, on the technical ground that the written judgment wasn’t available. The apex court refrained from commenting on the verdict and forbade the Narendra Modi government from revoking Central rule in Uttarakhand without informing it, like the Centre did in Arunachal Pradesh. It said all issues relating to the case would be argued and tested on 27 April. Read more
Ujjivan IPO opens on 28 April
Microfinance player Ujjivan Financial Services will open its ₹ 885-crore initial public offer (IPO) on 28 April and has fixed the price band at ₹ 207-210 per share. Ujjivan, which will become the second microlender to go public, is a recipient of an in-principle approval to set up a small finance bank. The IPO, opening on 28 April and closing on 2 May, involves fresh issuance of shares worth ₹ 358 crore by the company and a ₹ 527 crore offer-for-sale by its overseas investors who are exiting or paring their stakes in the company, Ujjivan chief financial officer Sudha Suresh said.
Fed, Bank of Japan’s policy decisions this week
Asian shares dropped on Monday while the dollar slipped as investors took profits from the currency’s recent gains ahead of central bank meetings in the United States and Japan this week.
Analysts expect that the Bank of Japan meeting on 28 April will be reactionary and dependent on the stance laid out at the US Federal Reserve on 27 April.
RBI to auction treasury bills
The Reserve Bank of India will auction ₹ 150 billion ($2.25 billion) of treasury bills (T-bills) on 27 April, comprising ₹ 90 billion of 91-day T-bills and ₹ 60 billion of 364-day T-bills, it said in a release on Friday.
Telecom commission to meet on spectrum auction on 30 April
The inter-ministerial panel of the telecom commission will take up for discussion, at its meeting scheduled for 30 April, the plans for upcoming spectrum auction. According to official sources, the meeting, to be chaired by telecom secretary JS Deepak on 30 April, will discuss spectrum base price, usage charge and other modalities related to the next round of spectrum auction, reported PTI.
Ghulam Ali to perform in Varanasi
Popular musical event ‘Sankat Mochan Sangeet Samaroh’ that is scheduled to start on 26 April will see the likes of Amitabh Bachchan, Pandit Jasraj, Pandit Hariprasad Chaurasia, Kavita Krishnamurti, Bhajan Sapori, Soma Ghosh, Anup Jalota, among many others. But to grace the occasion, Pakistani ghazal singer Ghulam Ali has also been invited. He has confirmed his presence as well. Last year, several of his events organised in India were cancelled after major protests by Shiv Sena and Hindu Sena. Read more
JEE results on 27 April
The results for Joint Entrance Examination (JEE) Main, the all-India common engineering entrance examination, will be declared by the Central Board of Secondary Education (CBSE) on 27 April. The JEE Main paper I and paper II offline exam were conducted on 3 April and paper I online exam on 9 April and 10 April. About 12 lakh students have appeared for the offline mode.
New polio vaccine
Polio drops will change from ‘trivalent’ to ‘bivalent’ from 25 April. Principal Secretary health and family welfare, Arvind Kumar said relevant orders were issued by the health ministry and being implemented by the state machinery. “The decision is based on recommendations by Strategic Advisory Group of Experts on immunisation (SAGE), the apex global body on vaccines and immunisation issues," he said. Read more
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