MAJOR LAPSE IN PM'S SECURITY IN PUNJAB; CENTRE FAULTS STATE GOVT

In a "major security lapse", Prime Minister Narendra Modi's convoy was stranded on a flyover due to a blockade by protesters in Ferozepur, Punjab, on Wednesday after which he returned without attending any event, including a rally.

The Union Home Ministry directed the state government to file an immediate report, saying it did not ensure the required deployment, while Home Minister Amit Shah said that such dereliction of the security procedure during the PM’s visit is totally unacceptable and accountability will be fixed.

Punjab CM Charanjit Singh Channi denied there was any security lapse or political motive behind it and said his government was ready for an inquiry.

Modi who landed in Bathinda had to take the road route to the National Martyrs Memorial at Hussainiwala in Ferozepurb because of inclement weather. When the convoy reached near village Piareana on Ferozepur-Moga road, around 30 km away from the National Martyrs Memorial in Hussainiwala, some protestors blocked the road following which the PM's cavalcade was halted for almost 15-20 minutes on a flyover.

Deputy Inspector General of Police (Ferozepur) Inderbir Singh said around 100 farmers suddenly arrived on the spot and blocked the road. A decision was taken to take the prime minister's convoy back to Bathinda airport after protestors started gathering on the other side of the flyover which could pose a huge security risk, he said.

In the statement, the home ministry said that in view of the contingency plan the state government has to deploy additional security to secure any movement by road, which were clearly not deployed.

Channi claimed that there was a sudden change in Modi's programme - he was earlier scheduled to take a chopper to his destination. "We respect our Prime Minister," Chani said and added "there was no security lapse of any kind and there was no situation of any attack...There was a sudden change in PM's travel plan from Bathinda to Ferozepur. BJP should not politicise the issue".

CONGRESS, BJP LOCK HORNS OVER PM'S 'SECURITY BREACH'

A political slugfest broke out on Wednesday between the BJP and the Congress after Prime Minister Narendra Modi’s cavalcade got stranded on a flyover in Punjab.

Top BJP leaders, including Home Minister Amit Shah and party president J P Nadda, lashed out at the Congress, which is in power in the state, over the incident.

Congress general secretary and chief spokesperson Randeep Surjewala said the prime minister had to cancel his rally in Ferozepur as there were no crowds at the event and no one wanted to listen to him.

In his tweets, Shah said, what was witnessed in the state is "Congress-made" and a trailer of how this party thinks and functions. "Repeated rejections by the people have taken them on the path of insanity. The topmost echelons of the Congress owe an apology to the people of India for what they have done," he said.

Surjewala said BJP president J P Nadda should stop indulging in the blame game and the saffron party should instead introspect its "anti-farmer" attitude due to which farmers were protesting against the prime minister during his Punjab visit. His remarks came after Nadda accused the Congress government in Punjab of trying all possible tricks to scuttle Modi's programmes in the state, fearing a resounding defeat at the hands of the electorate.

Rejecting the charge, Surjewala said the BJP is playing a political drama of a "so-called breach" in the security of the prime minister. He also condemned the remarks made by Union minister Smriti Irani, alleging that she used intemperate language.

Irani had launched a scathing attack on the Congress and had alleged that police functionaries were "directed to breach the security of the Prime Minister of India and bring him physical harm".

"If the farmers suddenly came and blocked the prime minister, should the police have fired at them and killed all of them?'' he asked, noting that doing anything else was unreasonable. "Punjab's people are neither Khalistanis nor terrorists. I condemn any such linkage," Surjewala said, rejecting insinuations of "connivance" between protesters and police.

"The reason for cancelling the rally is that there were no crowds to listen to Modiji. Stop the blame game and introspect on BJP's anti-farmer attitude. Hold rallies but listen to farmers first," Surjewala said.

Former Punjab chief minister Amarinder Singh, who has joined hands with the BJP, hit out at the Congress government and batted for the imposition of President's rule, while Shiromani Akali Dal president Sukhbir Singh Badal alleged there is a complete collapse of law and order in Punjab.

RAWAT HELICOPTER CRASH: IAF CHIEF BRIEFS RAJNATH ON PROBE, BAD WEATHER LIKELY REASON

The Helicopter crash in which Chief of Defence Staff General Bipin Rawat and 13 others were killed was reportedly caused by bad weather, even as the IAF top brass on Wednesday briefed Defence Minister Rajnath Singh on findings of the probe into the December 8 incident.

A day after the crash, the Defence Minister had announced a tri-service Court of Inquiry into the incident. The probe team headed by Air Marshal Manvendra Singh, who is the Air Officer Commanding-in-Chief of the Training Command, included a Commodore-level helicopter pilot from the Navy and a Brigadier-level senior Army officer.

Among other aspects, the probe team also examined the black box that was recovered from the crash site.

Although there is no official word yet on the probe findings, the sources said the investigation found that the Mi-17v5 helicopter carrying General Rawat and others encountered sudden bad weather, which could have resulted in it hitting a surface before crashing in a forest near Coonoor, Tamil Nadu.

COVID DASHBOARD – INDIA

As of 0800 IST 6/Jan

from mohfw.gov.in ,

New Cases on Wednesday 90,928

Active Cases 2,85,401 (+71,397)

Total Deaths (Deaths Yesterday) 4,82,876 (96)

Total Vaccination: 148.67 Crores (+91,25,099)

INTERNATIONAL AFFAIRS

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UPROAR IN FRANCE AFTER MACRON VOWS TO HASSLE UNVACCINATED

France President Emmanuel Macron drew fierce criticism on Wednesday after bluntly arguing that the government should make life miserable for the unvaccinated, as skyrocketing infection rates have put him under pressure to rein in the coronavirus pandemic ahead of a key presidential election. “I really want to piss off the unvaccinated,” Macron said in an interview with the newspaper Le Parisien. “And so we are going to continue doing that, until the end. ”

Macron said that those who had refused vaccines were part of a small minority. About three-quarters of France’s 67 million people are fully vaccinated, but roughly 5 million French people have not received a single shot. “I’m not going to put them in prison,” he said. “I’m not going to vaccinate them by force. ” Instead, the government is pushing a bill through parliament that will tighten the eligibility of France’s health pass by no longer allowing people to obtain one with negative tests. The pass grants access to restaurants, cafes, museums and other public spaces. Once the bill is approved, only proof of vaccination — or, in some cases, of recovery from Covid-19 — will be accepted, effectively barring the unvaccinated from large sections of French social life.

Reaction from his political opposition was swift. Christian Jacob, the head of the rightwing Republicans party, said the comments were unbecoming of a French head of state. “I cannot support a bill whose only goal is to piss off the French,” he said.

UNVACCINATED NOVAK DJOKOVIC CAN’T GET PAST AUS IMMIGRATION

Novak Djokovic landed in Melbourne on Wednesday in the middle of a political maelstrom over his medical exemption from COVID-19 vaccination requirements, with a visa blunder adding to the world number one’s problems ahead of the Australian Open.

Djokovic touched down at Tullamarine airport at about 11:30 p.m. local time, but was awaiting permission to enter the country after it emerged that his team had applied for a visa that does not allow for medical exemptions.

That prompted the local government of Victoria, the state where the Open is played, to say it would not support Djokovic’s application, putting his fate in the hands of the federal government and Prime Minister Scott Morrison.

Morrison has faced an enormous backlash over his government’s decision to grant Djokovic a medical exemption from vaccination to play at the Open, where the player would be bidding for a record 21st major title.

Following the backlash, Morrison suggested Djokovic’s participation was not a done deal and he would have to satisfy the federal government, which has responsibility for international borders and visas and was not part of the exemption process.

Morrison said shortly before Djokovic’s arrival that there would be “no special rules” for him on his exemption. ”If that evidence is insufficient, then he won’t be treated any different to anyone else and he’ll be on the next plane home,” Morrison told a media conference earlier.

Djokovic, who has won nine titles at Melbourne Park including the last three, had confirmed on Tuesday that he had received a vaccination exemption to allow him to play at the Australian Open, which starts on Jan. 17.

THE REST

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NEW NORMS: ISOLATION FOR 7 DAYS, NO TESTING FOR ASYMPTOMATIC CONTACTS

Do not rush for self-medication, blood tests or chest X-rays or CT scans without a doctor’s advice, the government’s revised advisory for mild and asymptomatic Covid patients said yesterday. Isolation period has been cut from 10 to at least seven days after testing positive and no fever for three days. Also, there is no need for retesting after home isolation. Asymptomatic contacts needn’t undergo Covid testing and could simply monitor their health in home quarantine, the advisory said.

Keeping in mind mass hoarding of essential drugs and steroids during the second wave, the revised Health Ministry advisory warned mild patients against using steroids. It said such unprescribed use could lead to fungal infection as seen in the past in black fungus cases.

“Clinically assigned mild cases are patients with upper respiratory tract symptoms with or without fever, without shortness of breath and having oxygen saturation at room air of more than 93,” it said.

The booster dose, which the Centre is calling precautionary dose, will have to be the same as the first two Covid19 vaccine jabs, the health ministry announced on Wednesday ruling out a combination strategy for now. The drive for the third vaccine dose will take off on January 10, starting with healthcare and frontline workers as well as people over 60 years of age with comorbidities.

Meanwhile, India yesterday reported the first death related to Omicron Covid-19 variant, with a 73-year-old in Rajasthan’s Udaipur succumbing to the virus. The patient with several comorbidities, including severe diabetes, died last week and was confirmed Omicron positive after his demise.

Antiviral drug molnupiravir, which recently got approval from the drug regulator and is being launched by several local drug makers, has serious safety concerns, and thus has not been included in the national Covid-19 clinical protocol recommended by the health ministry, the ICMR DG Balram Bhargava said.

“The US has approved it only based on 1,433 patients with a 3% reduction in moderate disease when given in mild cases. However, we have to remember that this drug has major safety concerns. It can cause teratogenicity, mutagenicity , and it can also cause cartilage damage and can also be damaging to muscles,” Bhargava said.

“More importantly, if this drug is given to a man or a woman, contraception has to be used for three months, as the child conceived during that period may have problems with teratogenic influences.

INDIA SLAPS RS 653-CR IMPORT DUTY EVASION NOTICE ON XIAOMI

Chinese phone maker Xiaomi’s India unit has been slapped with a Rs 653 crore notice for alleged evasion of import duty, as per an official statement.

A Xiaomi spokesperson said, “At Xiaomi India, we give utmost importance to ensuring we comply with all Indian laws. We are currently reviewing the notice in detail. As a responsible company, we will support the authorities with all necessary documentation.”

Evidence gathered during investigations by the Directorate of Revenue Intelligence (DRI) indicated that neither Xiaomi India nor its contract manufacturers were including the amount of royalty paid by the firm in the assessable value of the goods imported by the company, which is in violation of the customs law, the ministry said.

IN PANDEMIC YEAR OF 2021, LUXURY CARS SALES, GOLD IMPORT CLOCKED NEW HIGHS

In 2021, a year when the second wave of the pandemic relegated discretionary spending to the backburner, luxury goods and items bucked the trend. Top-end cars, gold and jewellery and super-luxury residential projects recorded a surge in numbers during the last year, topping not just the pre-pandemic levels but also, in some cases, levels reported 5-10 years ago.

During the year, the BMW Group sold 8,876 units of BMW and MINI cars, and 5,191 units of high-end bikes.

Its rival Audi, a Volkswagen group company, reported a two-fold jump in retail sales at 3,293 units in India in 2021, compared to 1,639 units in 2020.

By the first nine months of calendar year 2021, Mercedes Benz India had exceeded the full-year sales of 2020.

According to real-estate consultancy firm Anarock, the share of luxury housing sales as part of total residential sales rose to 12% (in the first nine months of 2021) compared to 7% in pre-Covid 2019.

The sharp rise in imports of valuables was also visible in the latest print of GDP for July-September. Import of valuables — assets with store value such as works of art, precious metals, and jewellery –stood at Rs 1.19 lakh crore in July-September this year, the highest in any quarter in the GDP (base year 2011-12 series). It was Rs 42,253 crore in Q2 last year and Rs 44,242 crore in Q2 2019-20.

IN ‘ICO’ FOR FAKE CRYPTO COIN, INVESTORS LOSE OVER RS 1,200 CRORE

At least 900 people were scammed of over Rs 1,200 crore after they invested in an “initial coin offering” floated by a Kerala man for a non-existent cryptocurrency, Enforcement Directorate officials said Wednesday. ED sources said investment in fake crypto coins had taken place in 2020, mostly during the lockdown. The affected people had bought the “Morris Coin”, listed with a Coimbatore-based cryptocurrency exchange called Franc Exchange, in a manner similar to an initial public offering purchase, said officials.

“Ten Morris coins were valued at Rs 15,000 with a lock-in period of 300 days. The currency was fake. The investors were given an e-wallet and told that the coin value would boom when traded in the exchange. But the promoters of the coin siphoned out the money and illegally invested in immovable properties in Kerala, Tamil Nadu and Karnataka, particularly in real estate without showing any source of income,’’ said an ED source.

SENSEX RECLAIMS 60K MARK ON RENEWED STRENGTH IN BANKING

Shares of banks and financial companies — underperformers in 2021—began the New Year with a bang. With technical breakout in heavyweight lenders and a strong business update by HDFC Bank, traders are building fresh bullish bets on these stocks. The renewed interest in the banks helped the benchmark Sensex reclaim the 60,000-mark for the first time since November.

The Bank Nifty soared by 2. 3% in Wednesday while the benchmark Nifty ended up 0. 67%.

Bajaj Finserv and Bajaj Finance jumped 5. 1% and 4. 4%, respectively. Kotak, Axis and HDFC Bank gained 2-4%.

The latest update from HDFC Bank as well as the system numbers, growth seems to be coming back. Be it credit growth, card spends etc all are showing good revival.

In the first three trading days of 2022, the banking index has gained 6% as against the 3. 29% advance in the Nifty.

JOHANNESBURG TEST DAY 3: DETERMINED ELGAR ENSURES S AFRICA NOSE AHEAD

South Africa's batters, led by skipper Dean Elgar, dug their heels in to get within 122 runs of a series-levelling victory against a determined India and set up a gripping fourth day in the second Test, in Johannesburg, on Wednesday.

Elgar (batting on 46 off 121 balls) took some nasty blows off deliveries that shot up off the cracks, but kept his team on course at 118 for 2 at stumps on Day 3 in pursuit of a tricky 240-run target set by India in the wake of a solid century-plus partnership from Cheteshwar Pujara and Ajinkya Rahane.

Shardul Thakur (1 for 21), who is in the middle of a great Test, snared his eighth victim of the game in an over during which the ball seamed, bounced and kept low from the same spot, the last one crashing into opener Aiden Markram's (31) pads.

Keegan Petersen (28) added 46 with his skipper before being trapped leg before by a delivery from Ravichandran Ashwin (1 for 14) that drifted and turned.

Elgar was ready to play the ugly game by putting his body on the line, getting hit on the knuckles, chest, shoulder and even head, prompting a quick on-field concussion test.

While South Africa will be content that they have half a foot through the victory door, there have been numerous instances in the series where a batting collapse changed the course of the game.

What is worrisome for India going into the fourth day are the batting conditions that have improved as the match progressed and Mohammed Siraj's fittness. He bowled only four off the 40 overs sent down till stumps.

Earlier, resuming the day at 85 for 2, India called the shots, with Cheteshwar Pujara (53) and Ajinkya Rahane (58) striking half-centuries. But once they were dismissed by Kagiso Rabada, the innings lost momentum. However, Hanuma Vihari (40 not out) and Shardul Thakur (28) defied the Proteas attack to swell India's overall lead.

Scores: India 202 & 266; South Africa 229 & 118/2

INDICATORS

Sensex 60,223 (+367), Nifty 17,925 (+120), Trading Value NSE (Rs.crores) 60,259

Nasdaq 15,100 (-523) Dow 36,407 (+393), S&P 4,701 (-93)

US$-Rs. 74.32 GBP-Rs. 100.67, Euro-Rs. 84.05, UAE Dhm-Rs.20.23, Can$-Rs. 58.41, Aus$- Rs. 53.81

GBP 0.73 /US$, Euro 0.88 /US$, Jap.Yen 115.96 /US$, Aus$ 1.38 /US$, Sing 1.35 /US$, Bang Taka 84.16 /US$, Can$ 1.27 /US$, Mal Ring 4.19 /US$,

Pak Re 176.11 /US$, Phil Peso 51.03 /US$, Russian Rouble 75.83 /US$, NZ$ 1.46 /US$, Thai Baht 33.15 /US$, Ukraine Hryvnia 27.17 /US$

Bitcoin - USD 43,285

Dollar Index 96.17 Brent Crude 79.88 BDI 2,289

Gold world Spot Price USD/aoz 1,809 India (Rs. per gm 24k/22k) 4,908 / 4,708, Silver (Rs. Per KG) 66,100

THOUGHT FOR THE DAY

Have patience. All things are difficult before they become easy. - Saadi

OFF TRACK

A turtle is mugged by three snails.

When asked by police to give a description of what happened, he replies, "I don't know, it all happened so fast!"