BLINKEN, LAVROV, QIN FOR G20 FOREIGN MINISTERS’ MEETING STARTING TODAY

Amid the hardening of positions on the Russia-Ukraine war which entered its second year last week, External Affairs Minister S Jaishankar will host US Secretary of State Antony Blinken, Russian Foreign Minister Sergey Lavrov and Chinese Foreign Minister Qin Gang among others at the G20 Foreign Ministers’ meeting beginning today.

Coming days after the G20 Finance Ministers failed to agree on a joint communique since there was no consensus on the reference to the Russia-Ukraine war, the Foreign Ministers’ meeting is set to test India’s diplomatic tightrope walk.

This will be Blinken’s first visit to India since the war began last year (he last came to India in July 2021); Lavrov’s second visit in a year (he was in Delhi in April 2022); and Qin’s first visit as the newly appointed Chinese Foreign Minister. Qin’s predecessor Wang Yi had come to India in March last year.

TECH TO HELP INDIA BECOME A DEVELOPED COUNTRY BY 2047: PM

Prime Minister Narendra Modi today said technology would help India become a developed country by 2047. “Put your efforts to empower the common man with the help of technology, and make India a developed country by 2047,” said Modi while addressing a post-Budget webinar on ‘Ease of living using Technology’.

It was the fifth of 12 post-Budget webinars to seek ideas and suggestions for the effective implementation of the initiatives announced in the Union Budget. Modi said after the various technological initiatives by the govt, people no more see the Centre as an obstacle.

Asserting that people now see the govt’s new efforts as catalysts, he said technology had played a huge role in changing this mindset.

Elaborating on the govt’s effort, Modi said schemes — One Nation, One Ration Card; Aarogya Setu; CoWin App; railway reservation and common service centres — had already enhanced the ease of living of citizens.

He said dialogue with the govt had become easy, and people were getting quick resolutions to their problems. On tax-related grievances, Modi said, “With the help of technology, we have made the entire tax system faceless. There is no person between you and solutions to your problems.”

He asked the various departments to collectively think about using technology for solving people’s problems and reaching global standards. “Going a step further, we can identify the areas where dialogue with the govt can be further eased”, Modi added.

On the impact of 5G and AI on the industry, the PM asked the stakeholders to find ways through which technologies could be deployed for the welfare of the common citizens.

RUSSIAN OIL IMPORTS AT RECORD HIGH IN FEBRUARY

India continues to defy US-led sanctions on Moscow, as over one in three barrels of crude oil flowing to India in February came from Russia, shipping data shows.

India imported about 51 million barrels of crude oil from Russia in February, 16 per cent higher than the 44 million barrels imported in January, according to data from Paris-based commodity market intelligence firm Kpler.

In fact, India was the world’s biggest importer of Russian oil in February, exceeding China by 20 million barrels, because India buys a cheaper Urals blend, which falls outside the purview of US-led sanctions, announced in early December, the data shows.

The US is concerned because its shipments of oil to India dropped by more than half last month from a year earlier, and from January. It views rising imports of Russian oil as funding Moscow’s war machine. Russia, which had not supplied oil to India in February 2022, and only 2 million barrels in January 2022, has gained market share in India, partly at the US’ expense.

Russia accounted for 39 per cent of Indian crude supplies in February compared to 29 per cent in January and just 1 per cent prior to the war. That compares to Iraq’s 21 per cent, Saudi Arabia’s 14 per cent, UAE’s 7 per cent and the US at 5 per cent.

Reliance Industries was the biggest buyer of Russian grades in February, at 15.3 million barrels, followed by IOC at 10.5 million barrels. State-run refiners accounted for around 29 million barrels, or 57 per cent of purchases, reflecting New Delhi’s tacit approval for Russian purchases despite pushback from the US and Europe.

SUPREME COURT RAPS WARRING CM & GOVERNOR OF PUNJAB

The Supreme Court on Tuesday pulled up Punjab’s governor and chief minister over their bitter political slugfest, saying a “constitutional dialogue between constitutional functionaries” should reflect “decorum and mature statesmanship”.

A bench headed by Chief Justice D.Y. Chandrachud said governor Banwarilal Purohit was bound under the Constitution to convene the Assembly session as sought by the state cabinet, and that chief minister Bhagwant Singh Mann could not decline to furnish information sought by the governor.

Punjab’s Aam Aadmi Party govt had petitioned the apex court challenging Purohit’s refusal to convene the budget session of the Assembly.

The special bench, which included Justice P.S. Narasimha, disposed of the petition after solicitor-general Tushar Mehta, appearing for the governor, informed the court about Purohit’s decision to convene the House as scheduled on March 3.

The row had erupted after the governor, in a February 13 letter to the chief minister, questioned the state govt about the criteria adopted to send a delegation of school principals to Singapore for training.

Mann had hit back the next day, saying he was not under any obligation to give an explanation to the governor and that his govt was answerable only to the three crore people who had elected it. He also posted a tweet on the subject.

When Mann later requested the governor to convene the budget session on March 3, Purohit declined. He said he was seeking legal opinion on the chief minister’s refusal to reply to his question and on the “derogatory remarks” made against him in his letter and tweets. This prompted the state govt petition.

INTERNATIONAL AFFAIRS

======================

DRONE STRIKES HIT RUSSIA

Russian President Vladimir Putin on Tuesday ordered officials to tighten control of the border with Ukraine after a spate of drone attacks that Russian authorities blamed on Kyiv delivered a new challenge to Moscow over a year after its invasion of its neighbour. One drone crashed just 100km away from Moscow in an alarming development for Russian defences. While Putin didn’t refer to any specific attacks in a speech in Moscow, his comments came hours after drone attacks targeted several areas in southern and western Russia.

The attacks caused no casualties but provoked a security stir. Speaking at Russia’s main security agency, the FSB, Putin urged the service to tighten security on the Ukraine border. Ukrainian officials didn’t claim responsibility for the attacks, but they similarly avoided directly acknowledging responsibility for previous strikes.

The Russian defence ministry said that Ukraine used drones to attack facilities in the Krasnodar region and neighbouring Adygea. It said the drones were brought down by electronic warfare assets, adding that one of them crashed into a field and another diverted from its designated flight path andmissed an infrastructure facility it was supposed to attack.

While Ukrainian drone strikes on the Russian border regions of Bryansk and Belgorod that lie north of Ukraine's Sumy region aren’t unusual, the hits on the Krasnodar and Adygea regions further south are noteworthy.

CANADA BANS TIKTOK ON GOVT DEVICES; US SETS 30-DAY DEADLINE TO REMOVE APP

The White House has set a 30-day deadline for US govt agencies to remove Chinese-owned social media app TikTok from all federal devices and systems. The ban, which was ordered by the US Congress last year, follows similar steps by Canada, which cited an “unacceptable level” of risk to privacy and security as a reason. The move has thrown a spotlight on the social media app owned by ByteDance, the world’s most valuable start-up, and raised concerns of its proximity to the Chinese govt and hold over user data across the world.

Canada on Monday announced it is banning TikTok from all govt-issued mobile devices. PM Justin Trudeau said it might be a first step to further action or that it might be it. “I suspect that as govt takes the significant step of telling all federal employees that they can no longer use TikTok on their work phones many Canadians from business to private individuals will reflect on the security of their own data and perhaps make choices,” Trudeau said.

TikTok spokesperson Brooke Oberwetter said Monday: “The ban of TikTok on federal devices passed in December without any deliberation, and unfortunately that approach has served as a blueprint for other world govts. These bans are little more than political theatre. ”

80 AFGHANS DEAD IN SHIPWRECK OFF ITALY

Afghanistan’s Taliban-led foreign ministry said on Tuesday that 80 Afghan citizens, including children, had died in Sunday’s shipwreck off the southern coast of Italy. Rescuers have so far confirmed at least 64 people were killed after a sailboat sank in heavy seas near Steccato di Cutro, a seaside resort on the eastern coast of Calabria. Eighty people had been rescued and more people were believed to be missing.

“We learned. . . that 80 Afghan refugees, including women and children, who were travelling from Turkiye to Italy in a boat, drowned and died,” the Afghan foreign affairs ministry said. Meanwhile, Italy arrested three men who they believe trafficked up to 200 people aboard the boat.

THE REST

=========

NO SC RELIEF FOR MANISH SISODIA, HE RESIGNS FROM GOVT

In a surprise move Tuesday evening, Delhi’s Deputy Chief Minister Manish Sisodia, who is in CBI custody, and jailed minister Satyendar Jain tendered their resignations to Chief Minister Arvind Kejriwal. The resignations, which were accepted by Kejriwal, have been sent to the Office of the Lieutenant Governor, from where they will be forwarded to the President.

The development came hours after the Supreme Court refused to entertain Sisodia’s plea challenging his arrest by the CBI in the excise policy case. The agency had arrested Sisodia on Sunday after eight hours of questioning. The next day, the Delhi High Court granted the agency five-day custody of the Deputy CM, who also holds the crucial education and finance portfolios.

In his resignation letter, addressed to Kejriwal, Sisodia wrote: “It is very sad that despite working with honesty and integrity for eight years, allegations of corruption are being levelled against me. These allegations are nothing more than a conspiracy hatched by cowardly and weak people who are scared of Kejriwal’s politics of truth.

I am not their target, you are.”

In the Supreme Court earlier, a bench of Chief Justice of India D Y Chandrachud and Justice P S Narasimha disapproved of Sisodia approaching the apex court directly under Article 32 of the Constitution, and said he could have approached the Delhi High Court first seeking similar relief.

“It will set a very wrong precedent. An incident occurs in Delhi, that does not mean we are approached,” said Justice Narasimha. CJI C Y Chandrachud, too, said that if parties start approaching the Supreme Court without exhausting other available remedies, every case will land directly in the apex court.

SISODIA HELD IN OPEN AND SHUT CASE OF CORRUPTION, KEJRIWAL SHOULD ALSO BE ARRESTED: CONGRESS

The Congress on Tuesday said AAP leader Manish Sisodia has been arrested in an "open and shut case of corruption" and that Delhi Chief Minister Arvind Kejriwal should also be arrested for his alleged involvement in the excise policy case.

The two leaders are "deeply involved in corruption" and should be dealt with accordingly, Congress leader Ajay Maken said.

CURIOUS CASE OF 'SOUTH GROUP' IN DELHI EXCISE SCAM

The CBI and the Enforcement Directorate (ED) in their chargesheets filed against former Delhi Deputy Chief Minister Manish Sisodia have mentioned that one “South Group” pumped in money to tweak the now-scrapped Delhi excise policy.

In the first week of March 2021, AAP’s media head Vijay Nair had met with representatives of liquor manufacturers seeking a favourable excise policy. Nair also allegedly met the “South Group”.

The ED, in its chargesheet, alleged that Nair received kickbacks on behalf of AAP leaders amounting to Rs 100 crore from the “South Group”.

The CBI claimed that phone chats show that “South Group” was involved in tweaking the Delhi excise policy 2021-22. The ED also alleged “against the kickbacks paid, the South Group secured uninhibited access, (enjoyed) undue favours, attained stakes in established wholesale businesses and multiple retail zones (over and above what was allowed in the policy)”.

AFTER HOTTEST FEBRUARY SINCE 1877, BRACE FOR MORE HEAT, SAYS IMD

The weather department has said that India experienced the hottest February this year since 1877. During a virtual press briefing held Tuesday, SC Bhan, head of Hydromet & Agromet Advisory Services, India Meteorological Department (IMD), said a combination of factors like the lack of winter rain, clear skies, and anticyclones led to the rise in temperatures. Bhan added that maximum temperatures went past the normal range by 8-9 degree Celsius in February.

Starting Wednesday, the IMD will issue heatwave warnings for a period of five days. Bhan said the warning would help in better coordination among departments to prevent loss of life and livestock. March, though, might witness fewer heatwaves. Rainfall in March is expected to be normal.

Notably, heat stress owing to the high temperatures has already affected the standing crops of wheat as well as mango orchards. The department of agriculture has issued advisories for farmers to control the stress.

MANUFACTURING DIPS, GROWTH SLIPS TO 4.4%

The manufacturing sector emerged as a pain point as the overall GDP growth rate slowed down to 4.4 per cent during the third quarter (October-December) of 2022-23.

The same was 6.3 per cent in previous quarter (July-September) and 13.5 per cent in the April-June quarter.

The manufacturing output shrank by 1.1 per cent in the third quarter, the second straight contraction reflecting weakness in consumer demand and exports. This would lead to fears of less jobs being created.

The National Statistical Office also released the second advance estimate for the current fiscal and maintained its growth projection of 7 per cent. It also revised the country’s economic growth in 2021-22 upwards to 9.1 per cent from 8.7 per cent earlier.

Z-PLUS SECURITY FOR AMBANIS IN INDIA AS WELL AS ABROAD: SC

The Supreme Court has clarified that the Z-plus category security cover provided to Reliance Industries Chairman Mukesh Ambani and family at their own expense will not be restricted to Mumbai. The security cover will be provided to them all over India and also while travelling abroad, it said.

A bench of Justices Krishna Murari and Ahsanuddin Amanullah said that the “highest Z+ security cover provided to” them “shall be available all across India and the same is to be ensured by the state of Maharashtra and Ministry of Home Affairs”.

The court also clarified that the entire expenses and cost of providing the security cover “within the territory of India or abroad shall be borne by them”.

PATHAAN HITS RS 1022 CR WORLDWIDE, SHEHZADA, SELFIE TALL AT BOX OFFICE

Shah Rukh Khan’s Pathaan didn’t have much in the name of competition in its first month of release, and both major Bollywood movies that have debuted in theatres subsequently have flopped, giving the YRF action-thriller even more room to spread its wings. After Kartik Aaryan’s Shehzada, it is now the turn of Akshay Kumar’s Selfiee to bomb at the box office.

Overall domestic collections for ‘Selfie’ now stand at Rs 12.7 crore in five days, easily the worst performance for an Akshay Kumar-starrer in over a decade.

Akshay is coming off four back-to-back theatrical flops in 2020, but each of those movies — Samrat Prithviraj, Raksha Bandhan, Ram Setu and Bachchhan Paandey — ultimately did better than Selfiee, which also stars Emraan Hashmi in a pivotal role. Akshay admitted in a recent interaction that he would have to go back to the drawing board as he chalks out the next phase of his career. In an interview with Aaj Tak, he claimed full responsibility for the failure of his films, and said, “The audience has changed, you need to change, you need to dismantle yourself. You have to start again because the audiences require to see something else.”

Pathaan, directed by Siddharth Anand, has made Rs 526 crore in India, and Rs 1022 crore globally. The film’s Hindi collections stand at Rs 508 crore. The film is on track to cross Baahubali 2: The Conclusion’s all-time record of Rs 511 crore in the Hindi language.

INDIA WIN TOSS, BAT FIRST AS INDORE TEST GETS UNDERWAY

Rohit Sharma has won his first toss of the series and decided to bat first.

Rohit Sharma: "This [pitch] is slightly different. It looks a little dry. So we've got to adapt our skills and be at it all the time. We are not there yet [in the WTC final]. So we've got to win this game. It's important for us to stay in the present and focus on what we need to do here. We've made two changes. (Shubman) Gill has come in in place of KL (Rahul). And we have rested Shami. Umesh comes in in place of him."

Meanwhile, Team India and Mumbai Indians star player Jasprit Bumrah has been ruled out of the upcoming IPL season, and also for the World Test Championship final – which starts on 7 June – if India qualify.

Indian team management is hopeful that the pacer is able to return to fitness by the ICC ODI World Cup to be played in India in October-November this year.

INDICATORS

Sensex 58,962 (-326), Nifty 17,304 (-89), Trading Value NSE (Rs.crores) 68,450

Nasdaq 11,456 (-11) Dow 32,657 (-233), S&P 3,970 (-12)

(US$-Rs. 82.67 GBP-Rs. 99.77, Euro-Rs. 87.62, UAE Dhm-Rs. 22.50, Can$-Rs. 60.79, Aus$- Rs. 55.66

GBP 0.82 /US$, Euro 0.94 /US$, Jap.Yen 136.34 /US$, Aus$ 1.48 /US$, Sing 1.34 /US$, Bang Taka 104.69 /US$, Can$ 1.35 /US$, Mal Ring 4.48 /US$,

Pak Re 258.89 /US$, Phil Peso 55.31 /US$, Russian Rouble 74.91 /US$, NZ$ 1.62 /US$, Thai Baht 35.17 /US$, Ukraine Hryvnia 36.55 /US$)

Bitcoin - USD 23,103

Dollar Index 104.99 Brent Crude 83.89 BDI 935

Gold world Spot Price USD/aoz 1,824 India (Rs. per gm 24k/22k) 5,612 / 5,145, Silver (Rs. Per KG) 69,200

THOUGHT FOR THE DAY

If you tell the truth, it becomes a part of your past. If you lie, it becomes a part of your future. - John Spence

OFF TRACK

The drunk staggered up to the hotel reception and demanded his room be changed.

"But sir," said the clerk, "you have the best room in the hotel."

"I insist on another room!!" said the drunk.

"Very good, sir. I`ll change you from 502 to 555. Would you mind telling me why you don't like 502?" asked the clerk.

"Well, for one thing," said the drunk, "it's on fire."