TIME TO INVEST IN INDIA IS NOW, PM MODI TELLS WEF

Prime Minister Narendra Modi told a gathering of world’s business and political leaders that this is the best time for investment in India.

Pointing out that in the economic arena, India is moving forward with some encouraging results, he said at an online special address at the World Economic Forum on Monday that a strong democracy like India was bringing to the world a “beautiful gift’’. The gift, he said, was “a bouquet of hope” even as India was battling yet another wave of the Covid pandemic with the right circumspection and caution.

"There was a time," Modi said, "when India was recognised for its licence raj. But the present government understands the difficulties faced by businesses and has been constantly trying to remove all such challenges". "Today the ease of doing business has been increasing, government interference has gone down and corporate tax rates reduced to make it more competitive in the world. These deepening economic reforms are another big reason why India is the most attractive destination," he said.

The PM’s last year’s address at WEF was badly timed when he had said that “India is among the most successful countries in saving lives’’ and that India “is a country that saved mankind from a big disaster by saving its citizens from the pandemic’’. The devastating second wave hit shortly thereafter.

This time, he said, “in moments of distress, we saw how India’s ‘One Earth One World’ vision helped many countries with much-needed medicines and vaccines, thereby saving crores of lives”.

POLLING FOR PUNJAB ASSEMBLY ELECTIONS POSTPONED TO FEB 20

The Election Commission on Monday postponed polling for the Punjab Assembly elections from February 14 to 20 after the State government and political parties raised concern that many devotees will be in Varanasi to celebrate Guru Ravidas’s birth anniversary on February 16 and miss out on voting.

Representations to the ECI said many devotees start going to Varanasi a week before the celebrations, and holding polling on February 14 would deprive them of the chance to vote. In a press statement, the ECI said it had decided to reschedule the poll.

COMMITTEE OF “PROMINENT PERSONS’ DECIDES ON REPUBLIC DAY TABLEAUX, SAY GOVT SOURCES

After West Bengal and Kerala alleged political vendetta as the reason why the Narendra Modi government rejected their state tableaux for the upcoming Republic Day parade in New Delhi, government sources clarified Monday that the political leadership has no role to play in their selection or rejection.

Instead, the sources outlined that a committee consisting of “prominent persons” in the fields of painting, sculpture, music, architecture and choreography, among others, are the ones who select or reject tableau ideas.

The sources said for the 2022 Republic Day parade, a total of 56 proposals were received from states and central ministries. Out of these, 21 have been shortlisted. “It is natural for more proposals to be rejected than those accepted, given the paucity of time,” the sources said.

ON REPUBLIC DAY, IAF TO MARK TANGAIL AIRDROP, MEGHNA CROSSING OF '71

This Republic Day, the flypast will pay homage to two important events that possibility changed the course of the 1971 war in the Eastern Theatre. Among the several formations that will be flying, the IAF has named two of the flying displays as ‘Tangail’ and ‘Meghna’.

Tangail is the place in Bangladesh where the Indian Army’s Parachute Regiment personnel were airdropped behind enemy lines. A Dakota, a plane used for para-dropping in 1971, will fly past the Rajpath as part of the flying display. It will be flanked by two Dornier 228 planes. This segment of the display is named Tangail.

Meghna is a river east of Dhaka and crossing it was important during the 1971 war if Indian forces wanted to capture the city. IAF helicopters were used to take thousands of Indian Army troops across the 4 km expanse of the Meghna. The flying display at Rajpath will commemorate that event. A Chinook heavy-lift helicopter and four Mi17V5 helicopters will fly in at the fly-past and the segment is named Meghna.

COVID-19: NO ONE CAN BE VACCINATED AGAINST HIS WILL, CENTRE TELLS SC

The Centre on Monday told the Supreme Court that no person can be administered Covid-19 vaccine against his/her will even as it said people to get vaccinated in the larger public interest.

In an affidavit filed in the top court, the Union health ministry said the government has not issued any SOP which made it mandatory for anybody to carry a vaccination certificate for any purpose.

The affidavit has been filed in response to NGO Evara Foundation’s petition seeking door-to-door priority Covid-19 vaccination for persons with disabilities.

With regard to exempting persons with disabilities from producing vaccination certificates, the affidavit stated that it has not issued any SOP that made it mandatory to carry the vaccination certificate for any purpose.

However, it sought to emphasize that “vaccination for Covid-19 is of larger public interest in view of the ongoing pandemic situation.”

Meanwhile, Dr Jacob Puliyel—a former member of the National Technical Advisory Group of Immunization – has moved the top court challenging the vaccine mandates issued by the governments of Delhi, Madhya Pradesh, Maharashtra and Tamil Nadu. Dr Puliyel—who also urged the court to issue directions to publicize the data of clinical trials and efficacy of Covid-19 vaccines administered to children—pointed out that the Centre has said that vaccination was voluntary and can’t be mandated at this stage.

He wondered how the states could make vaccination mandatory for opening shops, retaining employment, entering educational institutions and even stepping out on public streets.

COVID DASHBOARD – INDIA

As of 0800 IST /Jan 18

from mohfw.gov.in ,

New Cases on Monday 2,38,018

Active Cases 17,36,628 (+80,287)

Total Deaths (Deaths Yesterday) 4,86,761 (256)

Total Vaccination: 158.04 Crores (+79,91,230)

INTERNATIONAL AFFAIRS

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SUSPECTED DRONE ATTACK IN ABU DHABI EXPLODES 3 FUEL TRUCKS

Three fuel trucks exploded, killing three people—two Indians and a Pakistan—and a fire broke out near Abu Dhabi airport on Monday in what Yemen's Iran-aligned Houthi group said was an attack deep inside the United Arab Emirates, the region's commercial and tourism hub.

If confirmed, a Houthi drone strike on the UAE capital would take the war between the group and a Saudi-led coalition to a new level and may hinder efforts to contain regional tensions as Washington and Tehran work to rescue a nuclear deal.

The UAE, a member of the coalition, has armed and trained local Yemeni forces that recently joined fighting against the Houthis in Yemen's energy-producing Shabwa and Marib regions.

The Houthi movement has frequently launched cross-border missile and drone attacks on Saudi Arabia, but has claimed few such attacks on the UAE, mostly denied by Emirati authorities.

Three people were killed and six wounded when three fuel tanker trucks exploded in the industrial Musaffah area near storage facilities of oil firm ADNOC, state news agency WAM said.

The Houthi's military spokesman said the group launched a military operation "deep in the UAE". Its chief negotiator, Mohammed Abdulsalam, which Houthi-run media said was currently visiting Tehran, warned the UAE against "tampering in Yemen".

DAYS BEFORE OLY, CHINA’S DAILY CASES HIGHEST IN NEARLY 2 YEARS

The number of daily Covid-19 cases in China reached its highest level since March 2020 on Monday, as Beijing races to smother outbreaks just three weeks before hosting the Winter Olympics.

China has stuck to a strict policy of targeting zero Covid cases. But its approach has come under sustained pressure in recent weeks with multiple clusters in key cities just as the Games are about to get underway in Beijing. Omicron has breached the political, financial and technology centres of China for the first time.

Athletes and officials have already started to land in the capital ahead of the February 4 games, immediately entering a tightly controlled bubble. China had already barred foreign spectators from the event. On Monday, it announced tickets will be distributed to “targeted” groups and will not be sold to the public. Also, the city is now demanding a negative test before travel and a follow-up test after entering, with locals urged not to leave for the Lunar New Year.

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SONU SOOD VIDEO RELEASED BY CONGRESS HINTS AT CHANNI AS CM CANDIDATE

A video shared by the Congress party on its Twitter handle has triggered speculation as to who will be the Chief Ministerial face of the party in the upcoming Punjab assembly elections. In what is being seen as a snub to state Congress chief Navjot Singh Sidhu, who has aggressively tried to position himself as the CM face, the grand old party has posted a 36-second video clip with actor-philanthropist Sonu Sood saying that "the real CM" would be one who is forced to sit in the chair and does not have to aggressively advertise their own capability.

In the video, Mr Sood is seen saying "a person who is forced into the job is the real CM, he shouldn't have to project himself as the candidate. Like a backbencher being chosen and told that you deserve this, that person can change the country," he said, followed by a montage of Punjab CM Charanjit Singh Channi's visuals with dramatic background music pitching him as the man for the CM's job.

BKU WON'T BACK ANY PARTY, SAYS RAKESH TIKAIT AFTER BROTHER NARESH ENDORSES SP

A day after BKU president Naresh Tikait purportedly announced support to the Samajwadi Party in the upcoming Assembly elections, his brother Rakesh Tikait said the farmers’ union had not extended support to any political party.

“We did not extend any support, the message has been misread,” Rakesh Tikait said after a video of Naresh Tikait extending support to the SP-RLD alliance emerged. “If someone comes to your house, you do say ‘we are with you’. It does not mean that we will vote for them. We have decided that we (BKU) will not support anyone. Everyone (electorate) knows what they have to do,” Rakesh Tikait said.

Interestingly, Rakesh Tikait also said Yogi Adityanath “must win elections (from Gorakhpur) as we need a strong opposition in the state”.

In the very first mahapanchayat in Muzaffarnagar during the farm agitation last year, Naresh had said the “mistake made by Jats and khaps” in 2019 by not supporting late RLD leader Ajit Singh would be rectified in the 2022 Assembly elections.

BULLI BAI APP ACCUSED USED SIKH NAMES TO CREATE ANIMOSITY: POLICE TO COURT

Three students arrested in connection with a case pertaining to the 'Bulli Bai' app, which targeted Muslim women, deceptively used names belonging to the Sikh community for their social media accounts with an intention to breach peace in the society and create animosity among religious groups, the Mumbai police told a local court on Monday.

The city police's cyber cell submitted its affidavit before the metropolitan magistrate in suburban Bandra opposing the bail pleas filed by the three accused in the case -- Vishal Kumar Jha, Shweta Singh and Mayank Rawat.

The police on Monday sought the court to reject their bail pleas, arguing the accused could flee or tamper with evidence in the case.

According to the police's affidavit, Jha, Singh and Rawat were part of several social media groups operating with a specific mindset. "The accused were highly active on social media and were posting material which could cause breach of peace in the society," it said.

"The timely arrest of the accused persons has prevented a law-and-order situation," it said, adding the police were still on the look-out for other accused in the case.

COVID TREATMENT: GOVT ISSUES REVISED GUIDELINES ON USE OF DRUGS, THERAPIES

Oral antivirals such as Molnupiravir, antibiotics, monoclonal antibodies and vitamins have no place in India’s latest Covid management guidelines, which were put up on the Union health ministry website on Monday.

Antiviral remdesivir, which is given via an IV drip, is recommended for moderate to severely ill patients on oxygen support. Off-label use of the rheumatoid arthritis drug, tocilizumab, continues for severe patients who don’t improve with steroids.

The guidelines come barely10 days after ICMR chief Dr Balram Bhargav said Molnupiravir has “safety issues. ”

On Monday, the Maharashtra government, however, allowed the use of Molnupiravir for a select group of patients with “abundant caution”.

CLARIFY STAND ON MARITAL RAPE CRIMINALISATION: HC TO CENTRE

The Delhi high court on Monday asked the Centre to clarify its position in principle on the issue of criminalising marital rape after the government sought time to formulate and place its 'considered stand.'

Justice Rajiv Shakdher, who is heading the bench dealing with a batch of petitions challenging the legality of the marital rape exception in the Indian Penal Code, said that the Centre has to say 'yes or no' as in issues such as the present one, deliberation does not end.

"In a matter like this, they (Centre) have to in principle say yes or no because if they don't, however much they may deliberate, it is not going to come to an end," the judge said.

Solicitor general Tushar Mehta said that it will not be appropriate to place before the court a 'less discussed and consulted stand' and time was needed to undertake the process of consultation. "Yes and no is the end product of consultation," responded the solicitor general who also submitted that "nothing imminent was going to happen within a couple of weeks."

"We have to formulate our stand and place our considered stand for your lordship and considering that this a 2015 matter if your lordship can grant us a reasonable time. This might need a little consultation etc," the solicitor general said.

'IS THIS IN LATIN': SC ON HIMACHAL HIGH COURT'S INCOMPREHENSIBLE ORDER

The Supreme Court on Monday took exception to a 2017 verdict of the Himachal Pradesh High Court after it failed to comprehend the language used by the high court.

“Is this in Latin? We may have to send it back to the High Court for it to be re-written,” said a Bench led by Justice KM Joseph while adjourning the matter for further hearing on January 24.

“We are unable to understand a word,” said senior advocate Nidhesh Gupta agreeing with Justice Joseph.

Such was the quality of the English language used in the Himachal Pradesh High Court’s verdict that even the lawyers representing both the parties had failed to understand or assist the judges understand it.

LIC LISTING: INSIDE THE ALL-OUT CAMPAIGN TO PREPARE INDIA'S BIGGEST IPO

In Mumbai’s sleek skyscrapers, harried bankers race the clock to appraise a company that hasn’t been valued in decades. Bureaucrats burn the midnight oil in New Delhi, working through power cuts to pull together an IPO to rival any in Asia this year. And across the hinterland, front-page newspaper ads alert more than 250 million policy holders of the chance to own a piece of a company nearly as old as post-independence India.

For almost two years, India has steeled itself for a gargantuan task: readying the country’s premier insurer--with nearly $500 billion in assets and a valuation estimated as high as $203 billion--for what could become its biggest-ever stock listing. Some bankers have described the public offering of Life Insurance Corp. of India, or LIC, as India’s Aramco moment. As with the Gulf oil giant’s $29.4 billion listing, the world’s largest, LIC’s debut will test the depth of the nation’s capital markets and global appetite for its state-owned crown jewel.

Success is far from assured. With about two months to the targeted launch, consultants have been pouring over reams of policy documents to come up with LIC’s embedded worth -- a key valuation metric. Bankers say global investors worry about the autonomy of an institution regularly pressed into service to rescue teetering banks and floundering state assets. Local investors are skeptical the 65-year-old firm can compete against up-and-comers.

A knock-out listing could see LIC raise as much as $10 billion from the IPO with a minimum dilution of 5%. That would make it the third biggest globally involving an insurer. More importantly, it would burnish Prime Minister Narendra Modi’s reputation as a market-oriented reformer ahead of key state elections and help plug a gaping budget deficit.

DHANUSH AND AISHWARYAA ANNOUNCE SEPARATION

Actor Dhanush on Monday announced separation from his filmmaker wife Aishwaryaa Rajinikanth after 18 years of marriage.

Dhanush and Aishwarya, daughter of megastar Rajinikanth, tied the knot in 2004 and are parents to two sons, Yatra and Linga, who were born in 2006 and 2010, respectively.

Dhanush, 38, and Aishwaryaa, 40, shared a note announcing their separation on their respective social media accounts.

"Eighteen years of togetherness as friends, couple, as parents and well wishers to each other. The journey has been of growth, understanding, adjusting and adapting. Today we stand at a place where our paths separate. Aishwaryaa and I have decided to part ways as a couple and take time to understand us as individuals for the better.

"Please do Respect our decision and give us the needed privacy to deal with this. Om Namashivaaya! Spread love, D," Dhanush shared in a note on Twitter.

Aishwaryaa shared the same note on Instagram and captioned it: "No caption needed…only your understanding n your love necessary!"

INDICATORS

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Bitcoin - USD 42,310

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Gold world Spot Price USD/aoz 1,821 India (Rs. per gm 24k/22k) 4,909 / 4,709, Silver (Rs. Per KG) 65,500

THOUGHT FOR THE DAY

And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom. - Anais Nin

OFF TRACK

A preacher was making a wooden trellis to support a climbing vine. As he was pounding away, he noticed that a little boy was watching him.

The youngster did not say a word, so the preacher kept working. He was sure the lad would soon leave but he didn't.

Pleased at the thought that his work was being admired, the preacher finally said, "Well, son, trying to pick up some pointers on carpentry work?"

"Nope. I'm just waiting to hear what a preacher says when he hits his thumb with a hammer."