RIVANCH

The Union Budget 2022 is around the corner, and so are the expectations from the government across varied industries. For the water sector, Budget 2022 needs to chart a new vision of making India’s overburdened water infrastructure more sustainable and resilient. The government has already laid special emphasis in this aspect with the announcement of flagship schemes such as Namami Gange, Jal Jeevan Mission, Atal Bhujal Mission, and more. Such projects have helped in building a foundation that will boost further planning and execution of policies to bolster India’s water infrastructure overall. While these projects will continue providing their benefits, there is still a long way to go. India is already known to be water-stressed, the demand for water is expected to exceed supply by almost twice by 2030. This is truly an area of concern, which brings us to ponder over a crucial question – how are we planning to relook at building robust water infrastructure in India? Budget should s

I have often stated that I belong to the era where I believe in the institution of marriage. As a lawyer and a woman who has had a majority of work focused on and around issues regarding marriage and intimacy, I believe I am in a position to evaluate the situation objectively. Marriage, I believe, is the grundnorm of society, the bedrock upon which the fabric of the society is built. It is not to say that it is without its problems, and one such confounding problem is the issue of marital rape. The issue surrounding marital rape has confounded India for centuries. The concept of immunity from marital rape seemed to have emanated from colonial legacy, right from the times of Chief Justice Mathew Hale in 1736. Chief Justice Hale stated in  History Placitorum Coronae  (History of the Pleas of the Crown) published posthumously in 1736: “The husband cannot be guilty of a rape committed by himself upon his lawful wife, for by their mutual matrimonial consent and contract the wife hath given

Israel and India have a "gehri dosti" (deep friendship), Israeli Prime Minister Naftali Bennett said on 29 January, 2022, and thanked his Indian counterpart Narendra Modi for his "deep commitment" to the "strong and robust friendship", as the two nations celebrated 30 years of establishment of diplomatic relations. Describing the opportunities of collaboration between the two countries as "endless", Bennett stressed that "the ties between Israel and India are strong and together they will only grow stronger". "There is something I wanted to tell to all of the people of India. Israel and India have a "gehri dosti", Deep Friendship. Today we honour 30 years of diplomatic relations between Israel and India. Thirty years of a wonderful partnership, a deep cultural connection, and military and economic cooperation", Bennett said in a special video message released on the evening of 29 January, 2022. Though India had re

The Budget 2022 will have competing demands from various sectors given the crisis and uncertainty related to the pandemic that continues to impact lives and livelihoods. It will be a tightrope walk for the government in allocating resources for the agriculture and food sector that address multiple concerns related to growth, income, social welfare and safety net, and long-term sustainability of farming. The Budget will be tabled close to elections in Punjab, Uttar Pradesh, Uttarakhand, Manipur and Goa, and political parties are already promising loan waivers, MSP for all crops, free electricity, among others, which is likely to influence the budget towards some populist announcements. Also, with year 2022 being the last year for achieving the target of doubling of farmers’ income by 2022-23, and the repeal of recent farm laws in November 2021, the government will have to reinforce the confidence of the farmers in its commitment towards making farming profitable for them, and the marke

India's EV industry is projected to grow at an astronomical CAGR of 90 percent and touch $150 billion by 2030, according to a recent report by consulting firm RBSA Advisors. In the face of these numbers, the time is ripe for the 2022 Budget to augment the growth of the EV industry. On the cusp of a major transformation, this new ecosystem is already disrupting the existing vehicle market. More green mobility options will not only provide environmental benefits but also boost the technology industry and provide ample job creation opportunities in the coming years. As per JMK Research and Analytics, electric vehicle registrations surpassed 50,000 units in a month in December 2021 alone. The electric two-wheeler category has seen especially positive growth, with an increase of 132 percent over 2020. As the e-bike segment continues to grow, the inclusion of low-speed electric two-wheelers amongst EVs and a larger manufacturing base, and the availability of labour and parts will give

Martyrs' Day, also known as Shaheed Diwas, is observed across the country on 30 January every year. The day marks the death anniversary of Mahatma Gandhi. On this day, Indians remember the slain freedom fighters who laid down their lives for the country's independence. Various events are organised across the country to pay respect to the fallen. Like every year, the Centre has directed all state governments and union ministries to observe two minutes of silence on the day at 11 am in the memory of martyred independence heroes. History and Significance of the day This year, India will commemorate 74th death anniversary of Mohandas Karamchand Gandhi, popularly known as Mahatma Gandhi. The day is observed to remember Mahatma Gandhi's contributions to India’s fight for independence. Bapu led countless freedom movements and advocated non-violence. In 1948, The Father of the Nation was killed by Nathuram Godse during his evening prayers in the Birla House. Godse held Gandhi

With direct taxes contributing nearly half of the government’s revenue streams, expectations from the taxpayers are aplenty. The government, too, has reciprocated in the past by announcing a reduction in corporate tax rates to 15 percent for new manufacturing units, providing an exemption from filing tax returns in certain cases, and doing away with dividend distribution tax. Buoyed by the trail of economic recovery from the impact of COVID-19, the top priority items being voiced by India Inc. are: Deduction pertaining to COVID-related expenditure Corporates have incurred an enhanced amount in the form of vaccination of employees and their family members, provision of medical supplies, and arranging for doctor consultations. However, there seems to be a lack of clarity on the tax deductibility of the said expenses, and it is an ask from the corporate community that the same be allowed as a deductible expenditure while computing taxable income. Related to this point is also the reque

India's crypto market has been increasing over the last few years. According to a Nasscom report, it is expected to touch $241 million by 2030. With the current trends, more Indians and investors are expected to join the crypto revolution across all demographics. India is a country with diversified financial needs and having a cryptocurrency will promote the underlying benefits of this technology. The Crypto world has immense headroom to grow, and as access to new innovative investment opportunities emerges, it is expected to see a massive inflow of capital in this ecosystem. The COVID-19 pandemic uncertainties have granted significant attention to cryptocurrency, bitcoin, blockchain in India and across the world. Many started seeing digital currency as the future of finance. Gold, oil, and stocks were the major asset classes, but after the 2008 recession, the investors lost trust in these asset classes and Crypto appeared as a new trend. As far as the investors are concerned, a

India has, at COP26, declared to the world its strong commitments to attain net-zero status by 2070. The target is opined to be ambitious by most; the third largest carbon dioxide emitter globally has a steep path to traverse in order to materialise its strong ambitions. India’s pledge is entwined with aspirations of a robust 2030 GDP, projected to be between $8.5 trillion and $10 trillion, and the foundation for both these targets lie in the robustness and thematic address of this year’s Budget, which must prioritise climate action and green economy. Recent studies reveal that the annual capital spending on physical assets in the country would rise from $300 billion in 2020 to about $600 billion between 2021 and 2050, 40 percent of which is expected to be in the power sector. Needless to say, India is required to invest a large share of GDP towards decarbonisation comprising low emission technologies and creation of a favourable policy environment. A key decarbonisation option that

Finance Minister Nirmala Sitharaman has set the benchmark high by announcing a series of pathbreaking reforms in last year's Budget which included the bad bank and a developmental financial institution (DFI) for infrastructure financing. While this year's Budget may not have those big bang announcements, the focus could be on operationalizing these institutions and setting the ball rolling. In order to embark on a path of rapid growth, the country needs a supportive, strong and robust banking sector. Lack of skill to assess mega infrastructure projects on the part of the traditional bankers, complexities in various clearances required for such projects, and the demand and supply mismatches have resulted in the deterioration of asset quality to unprecedented levels. While the government has shown its intention to resolve the impediments there is a need to go beyond existing policy prescriptions and look at disruptive methods to address these issues. Set things in motion It

India’s COVID-19 vaccination drive is about to witness a change after the drug regulator on Thursday granted a conditional market authorisation for Covishield and Covaxin , the two coronavirus vaccines widely used in the country. We take a look at what is conditional market authorisation and how this affects the COVID-19 vaccine drive. What does conditional market authorisation mean? To date, Serum Institute of India's Covishield and Bharat Biotech's Covaxin has been available under 'Emergency Use Authorisation'. Through the EUA route, the vaccines are available only in emergency situations; for instance in a public health emergency like the pandemic. In this case, the drug regulator, based on initial data from phase 3 of clinical trials, permits the use of vaccines. According to officials, as the two vaccines now meet the high standards of safety, effectiveness, and manufacturing quality that the Drugs and Cosmetics Act, 1940 requires of a new vaccine, they have b

The states of Uttar Pradesh and Bihar are on alert after a clutch of student organisations have called for a Bihar Bandh today against alleged ‘irregularities’ in the Railway Recruitment Board's examination process. Several students' organisations, including the All India Students Association (AISA), called for the state-wide bandh on Friday to protest against the alleged irregularities in the Railway Recruitment Board's Non-Technical Popular Categories (RRB-NTPC) exam 2021. We take a look at the students’ allegations, why violence erupted and what happens next. Violence erupts on 26 January The country’s celebrations of Republic Day were marred when reports emerged of thousands of students taking to the streets of Bihar to protest against alleged irregularities in the Railway Recruitment Board's examination procedure. Initially, the protests were seen in Bihar's districts of Patna, Nawada, Muzaffarpur, Buxar, Sasaram, Sitamarhi, Arrah, and Bhojpur. They squatt

India remembers Lala Lajpat Rai on his birth anniversary today, 28 January. Born in 1865 in Punjab’s Dhudike village, Rai was one of the most prominent leaders of India’s freedom struggle. He put up a tough fight against the British rule and was given the title of ‘Punjab Kesari’ or ‘The Lion of Punjab’ due his nationalism and zealous ideologies. Rai is fondly remembered as Lal from the ‘Lal-Bal-Pal’ triumvirate (Lala Lajpat Rai, Bal Gangadhar Tilak and Bipin Chandra Pal) and was a prominent leader of the Congress party. In 1894, Lala Lajpat Rai also founded the Punjab National Bank (PNB) and Laxmi Insurance Company. In the year 1928, when the Simon Commission was set up by Britishers in India to keep a check on the nation’s political situation, Indians protested against the Commission. Lala Lajpat Rai led a non-violent march to protest and boycott the British Simon Commission but was unfortunately assaulted and injured by the police lathi charge that occurred against protestors. R

At a recent virtual conference organised by the Delhi-based Global Counter-Terrorism Centre (GCTC), India’s ambassador to the United Nations TS Tirumurti called out the bias inherent in global counter-terror strategy that fails to recognise Hinduphobia as a valid form of persecution like Islamophobia or anti-Christian sentiment, leading to discrimination against Hindus. The 7th review of ‘Global Counter Terrorism Strategy’ passed by the UN in June 2021 mentions phobias against Abrahamic religions such as Islam, Christianity and Judaism but Hinduism doesn’t find mention. “The emergence of contemporary forms of religiophobia, especially anti-Hindu, anti-Buddhist and anti-Sikh phobias is a matter of serious concern and needs attention of the UN and all member states to address this threat,” said the Indian envoy in his keynote address, according to a report in The Hindu . Though Tirumurti clarified that he wasn’t speaking in his capacity as Chair of the Counter-Terrorism Committee (CTC)