PM MODI ANNOUNCES DECISION TO REPEAL FARM LAWS

A year since farmers first showed up at the gates of Delhi to protest against three new agriculture laws which were later put on hold by the Supreme Court, Prime Minister Narendra Modi announced Friday that the laws will be repealed and the process completed in the upcoming winter session of Parliament.

In an address to the nation yesterday, the Prime Minister said: “While apologising to the countrymen, today I want to say sincerely that perhaps there must have been some deficiency in our penance that we could not explain the truth like the light of the lamp to the farmer brothers (Mein aaj deshvaasiyon se kshama maangte huey, sachche mann se aur pavitra hriday se kehna chahata hoon ki shayad humaari tapasya mein hi koi kami rahi hogi jiske kaaran diye ke prakash jaisa satya kuchh kisan bhaiyon ko hum samjha nahin paye).”

“Today is the holy festival of Prakash Purab of Guru Nanak Dev ji. This is not the time to blame anyone. Today I want to tell you, the entire country, that we have decided to repeal all three agricultural laws. We will complete the constitutional process to repeal these three agricultural laws in the Parliament session that begins later this month,” he said.

Modi urged “all my agitating farmer companions” to “return to your homes, fields and to your families”, and said: “Let’s make a fresh start. Let’s move forward with a fresh beginning… Today, the government has taken another important decision related to the agriculture sector. A committee will be constituted to decide on matters like promotion of zero budgeting farming i.e. natural farming, scientifically change the crop pattern keeping in mind the changing requirements of the country and make MSP more effective and transparent.”

The committee, he said, will include representatives of the Central government, state governments, farmers, agricultural scientists and agricultural economists. “Our government has been working in the interest of farmers and will continue to do so… Whatever I did, I did for the farmers and whatever I am doing, I am doing for the country,” he said.

OPPN  REACTION: VICTORY FOR FARMERS….APOLOGISE…..PM EYE ON POLLS

From the Congress to Left parties and regional players such as the TMC, AAP, RJD, BSP, RLD and DMK – parties that backed the stir against the agricultural laws over the last one year – welcomed the announcement on the repeal of the laws, with most of them arguing that the decision to repeal the laws was taken by the government fearing setbacks in the forthcoming Assembly elections.

In a statement, Sonia Gandhi said the repeal of the farm laws was a victory of truth, justice and non-violence. “The conspiracy that was hatched by those in power against the farmers and workers was defeated today and so was the arrogance of dictatorial rulers. In a democracy, decisions should be taken after discussions with all, with the agreement of those impacted and taking the opinion of the Opposition. I hope the Modi government has at least drawn some lessons for the future,” she said.

Senior Congress leader Rahul Gandhi wrote an open letter to the farmers congratulating them for the way they “fought the arrogance of a dictatorial leader in a Gandhian way and forced him to take back his decision.” It is an “unmatched example of victory of truth over falsehood”, he said.

Saying the struggle is not over, Rahul said issues such as providing remunerative MSP for farmers, scrapping of the Electricity (Amendment) Bill, removal of tax on agricultural implements, rolling back the hike in prices of diesel and giving relief from debt to farmers and agricultural workers are still to be resolved.

West Bengal Chief Minister and TMC supremo Mamata Banerjee tweeted: “My heartfelt congratulations to every single farmer who fought relentlessly and were not fazed by the cruelty with which @BJP4India treated you. This is YOUR VICTORY!” The Samyuk Kisan Morcha leaders had campaigned against the BJP in Bengal ahead of the Assembly polls earlier this year.

Addressing a press conference in Lucknow, SP chief Akhilesh Yadav said, “Saaf nahi hai inka dil, chunav baad phir layenge Bill (Their intentions are not good, they will bring back the Bills after elections).”

WAITING FOR ACTUAL REPEAL BY PARLIAMENT, FARMERS UNIONS PUSH ON MSP GUARANTEE

The Samyukta Kisan Morcha (SKM) welcomed the announcement of repeal of three farm laws on Friday but said its future course of action will be decided after the core committee meetings on Saturday and Sunday.

As drumbeats were heard in several places and sweets distributed at the unexpected “victory”, Bharatiya Kisan Union (BKU) leader Rakesh Tikait added that the government should talk to farmers over the issue of minimum support price (MSP) of crops and other matters.

"The protest will not be withdrawn immediately, we will wait for the day when the farm laws are repealed in Parliament," Tikait tweeted in Hindi.

SKM, the umbrella body of 40 farm unions, said their agitation was not just against the repeal of the “three black laws” but also for a statutory guarantee to remunerative prices for all agricultural produce. “This important demand of farmers is still pending," it said, clarifying that it would wait for the announcement to take effect through due parliamentary procedures.

The farmer leaders dedicated the victory to over 700 farmers who died during the one-year-long movement and the people, press, social organisations, and others that supported the movement.

INDIA-CHINA TIES GOING THROUGH ‘BAD PATCH’: JAISHANKAR

External Affairs Minister S Jaishankar said on Friday that India and China are going through a “particularly bad patch” in their ties because Beijing has taken a set of actions in violation of agreements for which it still doesn’t have a “credible explanation” and it is for the Chinese leadership to answer where they want to take the bilateral relationship.

“I don’t think the Chinese have any doubt on where we stand on our relationship and what’s not gone right with it. I’ve been meeting my counterpart Wang Yi a number of times. As you would’ve experienced, I speak fairly clear, reasonably understandably (and) there is no lack of clarity so if they want to hear it, I am sure they would have heard it,” Jaishankar said in response to a question at a panel discussion on “Greater Power Competition: The Emerging World Order” at the Bloomberg New Economic Forum in Singapore.

COVID DASHBOARD – INDIA

As of 0800 IST 20/Nov

from mohfw.gov.in ,.

Active  Cases 1,24,868 (-1,752)

Deaths 4,65,349 (+267) (Friday’s figure of 267 deaths includes 155 old deaths in Kerala, as the data is being reconciled)

Total Vaccination : 1,15,79,69,274 (+51,59,931)

INTERNATIONAL AFFAIRS

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

INTERNATIONAL CONCERN AS A CHINESE TENNIS STAR GOES MISSING

The United States is "deeply concerned" about Chinese tennis star Peng Shuai, who went missing after making se.xual assault allegations against a top Communist Party official, the White House said Friday.

Press Secretary Jen Psaki said President Joe Biden's administration wants China to "provide independent, verifiable proof" of her whereabouts.

The US call came as international concern mounts for the tennis star, missing since alleging earlier this month that she was se.xually exploited by a former vice-premier of China. The UN on Friday insisted on a fully transparent investigation into the claims made by Peng, formerly the world's top-ranked doubles player, against Communist Party grandee Zhang Gaoli.

Tennis stars, sports bodies and governments and human rights defenders have also spoken up for Peng, 35, and demanded information. The head of the Women's Tennis Association (WTA) said he was prepared to cut lucrative business ties with China if Peng remains unaccounted for and her sexual assault allegations are not probed.

Serena Williams, Novak Djokovic and Naomi Osaka have also voiced their concerns for one of China's greatest ever players.

AUSTRIA REIMPOSES COVID LOCKDOWN FROM MONDAY, PLANS TO MAKE VACCINES COMPULSORY

Austria will become the first country in western Europe to reimpose a full coronavirus lockdown this autumn to tackle a new wave of infections, and will require its whole population to get vaccinated as of February, the government said on Friday.

Roughly two-thirds of Austria's population is fully vaccinated, one of the lowest rates in western Europe. Much of the public is sceptical about vaccines, a view encouraged by the far-right Freedom Party, the third biggest in parliament. It is planning a protest against coronavirus restrictions on Saturday.

Austria introduced a lockdown for those who are not fully vaccinated on Monday but since then infections have continued to set new records. Its infections are among the highest on the continent, with a seven-day incidence of 991 per 100,000 people.

THE REST

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PM FORMALLY HANDS OVER MADE-IN-INDIA LCH, DRONES AND UAVS TO ARMED FORCES

At an event in Jhansi in poll-bound Uttar Pradesh, Prime Minister Narendra Modi formally handed over light combat helicopters (LCH) designed and developed by Hindustan Aeronautics Limited to the Air Force chief, drones and UAVs built by Indian start-ups to the Army Chief, and the DRDO-designed and Bharat Electronics Limited-manufactured advanced electronic warfare suite for naval ships to the Navy Chief.

He also laid the foundations of multiple development projects, including a Rs 400-crore plant under Bharat Dynamics that will make propulsion system for anti-tank guided missiles and a 600-megawatt Ultra Mega Solar Power Park being constructed at a cost of over Rs 3,013 crore.

Addressing the event, Modi said, “India’s identity was that of an importer of arms. Today, the country’s mantra is ‘Make in India, Make for the World’. The country is working to make our armed forces ‘atmanirbhar’ (self-reliant).”

Several initiatives and schemes were launched or dedicated to the nation during the three-day ‘parv’ in Jhansi that also celebrated the 193rd birthday of Rani Laxmi Bai.

FARM LAWS’ REPEAL: BJP LEADERS LAUD PM MODI’S STATESMANSHIP

The BJP on Friday lauded Prime Minister Narendra Modi’s announcement to repeal the three farm laws as a “statesmanlike” move that will further the atmosphere of brotherhood across the country.

Home Minister Amit Shah said what is unique about Modi’s announcement is that he picked the special day of ‘Gurpurb’ to make this. “It also shows there is no other thought except the welfare of each and every Indian for him. He has shown remarkable statesmanship,” he said.

Several BJP leaders also quoted a part of Modi’s address to the nation to suggest that his decision to scrap the laws, dubbed as a defeat for the government, was driven by national interest.

Shah tweeted, “PM Narendra Modi announcement relating to the farm laws is a welcome and statesmanlike move. As the Prime Minister pointed out in his address, the Government of India will keep serving our farmers and always support them in their endeavours.”    

Another senior party leader and Defence Minister Rajnath Singh said Modi took the big decision in farmers’ interests and to respect their sentiments. The decision shows his sensitivity towards farmers’ welfare, he added.

CHANDRABABU NAIDU BREAKS DOWN, VOWS TO STAY AWAY FROM ASSEMBLY TILL…..

A sobbing Telugu Desam president N Chandrababu Naidu on Friday vowed to step into the Andhra Pradesh Legislative Assembly again only after returning to power. “Till then, we will go to the people and sort it out,” he told a press conference at the TDP headquarters in Amaravati.

The former Chief Minister, who hitherto had rarely shown any emotions overtly, broke down in the press conference and cried for a while, alleging that the ruling YSR Congress had been humiliating him no end. “This is a dharma poratam (just battle) against the atrocious rule of the YSRC. I will go to the people and seek their support. If people co-operate, I will strive to save the state,” the TDP chief said.

Earlier in the state Legislative Assembly, the Leader of the Opposition said in an emotion-filled tone that the Jagan Mohan Reddy-led party had been continuously casting a slur on him for the past two-and-a-half years. “I have been bearing the insults for the sake of people, but remained calm. Today they have targeted even my wife. I always lived with honour and for honour. I can take it no more,” Chandrababu said.

Though he continued to speak, Speaker Tammineni Seetaram cut the mike even as the ruling party members called Chandrababu’s remarks a “drama”.

ABOUT FRIDAY NAMAZ IN GURGAON

For the second week in a row, some members of the Muslim community offered Friday namaz at one Akshay Yadav’s vacant shop at Sector 12. Yadav has graciously offered his shop for Muslim community to use for Friday namaz.

Although a committee overseeing five gurdwaras in Gurgaon had offered their Langar Halls for prayers, namaz was not offered at any gurdwara on Friday.

There is some pressure on the Committee of the Gurdwaras to withdraw the offer.

Since a huge rush of devotees was expected in the Gurudwaras yesterday on account of Guru Nanak’s Jayanti celebrations, the committee of Gurdwaras and Gurgaon Muslim Council took a decision to not offer namaz in the gurdwara this week.

Daya Singh, president of All India Peace Mission and spokesperson for Gurdwara Sri Guru Singh Sabha Prabandhak Committee said, “Today was Gurupurab and there was a rush. The principle of the gurdwara is if the they don’t get a place anywhere else, the gurdwara is open to all.”

SHADOW OVER IPOs PLANNED BY MOBIKWIK, OYO AFTER PAYTM'S DISMAL DEBUT

Paytm's dismal stock market debut this week is likely to put a damper on future offerings after the IPO of the digital payments firm ranked among the worst-performing in Indian history, six analysts and bankers said on Friday.

Indian companies have raised a staggering $9.7 billion through initial share sales in the first nine months of 2021, for the highest such tally in any of the corresponding periods of the last two decades. But offerings planned for later this year, such as those by payments rival MobiKwik and hotel aggregator OYO, will face questions after Paytm's debut plunge of more than 27%, as investors turned queasy at its lack of profits and lofty value.

Investors and analysts who expressed concern over the IPO valuation of the loss-making Paytm at about $18.7 billion had cautioned that "frothy" valuations with unclear business models might not end up well in the current market.

All eyes are turning to plans of life insurance behemoth LIC, which is expected by the end of March 2022 and could raise more than $10 billion if the government offers a stake of 10%. Some analysts see little risk from the Paytm fallout for LIC, however, as it is a household name in India, commanding more than 60% of the life insurance market, with assets exceeding $500 billion.

FRANKLIN TEMPLETON MF UNITHOLDERS TO GET RS 1,115 CR IN 7TH TRANCHE

SBI Funds Management (SBI MF) will distribute from Monday the seventh tranche of a little over Rs 1,115 crore to unitholders of the Franklin Templeton Mutual Fund's six shuttered schemes.

After the payout, the total disbursement will reach Rs 25,114 crore, amounting to 99.6 per cent of assets under management (AUM) as on April 23, 2020, when the fund house announced to shut the schemes, a Franklin Templeton MF spokesperson said on Friday.

Under the first disbursement in February, investors received Rs 9,122 crore, while Rs 2,962 crore were paid to investors in April, Rs 2,489 crore in May, Rs 3,205 crore in June, Rs 3,303 crore in July and Rs 2,918 crore in September.

The fund house shut its six debt mutual fund schemes on April 23, 2020, citing redemption pressures and lack of liquidity in the bond market.

The schemes -- Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund, and Franklin India Income Opportunities Fund -- together had an estimated over Rs 25,000 crore as AUM.

2ND T20I AGAINST NZ: INDIA SCORE AN EASY WIN

K L Rahul and Rohit Sharma starred with the bat in a century-plus opening stand as India easily beat New Zealand by seven wickets in the second T20 International, at the JSCA International Stadium Complex, in Ranchi, on Friday.

The victory gave the hosts an assailable 2-0 lead in the three-match series.

The third and final T20I will be played at the iconic Eden Gardens, in Kolkata, on Sunday.

Chasing a paltry target, after the bowlers restricted New Zealand to 153 for 6, the openers got India got off to an excellent start, putting on 50 runs in just 6.4 overs.

Rohit Sharma hit 5 sixes while scoring 55 off 36 balls.

There was some consolation when Rahul was sent back by New Zealand skipper Tim Southee in the 14th over after a blazing 65 off 49 balls, which included 6 four and 2 sixes as India were reduced to 117-1.

But Rohit continued the carnage and also brought up his half-century just before being dismissed.

India reached the target in 17.2 overs, with 7 wickts to spare 16 balls to spare.

Ealrier, Rohit Sharma cleverly used Ashwin and Axar in the middle overs to restrict the run-flow and the senior spinner was sensational with his variations as the batters found it difficult to go after him. The duo's remarkable effort in the middle overs gave the pace attack some respite and newcomer Harshal Patel, who made his T20I debut four days shy of his 31st birthday, returned impressive figures of 2 for 25. He was named Man Of The Match.

INDICATORS

(Indian Stock Markets were closed yesterday on account of Guru Nanak Jayanti)

Nasdaq 16,057 (+64) Dow 35,602 (-269), S&P 4,698 (-7)

US$-Rs. 74.19 GBP-Rs. 99.87, Euro-Rs. 83.96, UAE Dhm-Rs.20.19, Can$-Rs. 58.75, Aus$- Rs. 53.82

GBP 0.74 /US$, Euro 0.88 /US$, Jap.Yen 114.08 /US$, Aus$ 1.37 /US$, Sing 1.35 /US$, Bang Taka 84.19 /US$, Can$ 1.26 /US$, Mal Ring 4.17 /US$,

Pak Re 174.01 /US$, Phil Peso 50.43 /US$, Russian Rouble 73.21 /US$, NZ$ 1.42 /US$, Thai Baht 32.67 /US$, Ukraine Hryvnia 26.31 /US$

Bitcoin - USD 58,875

Dollar Index 96.07 Brent Crude 78.89 BDI 2,552

Gold world Spot Price USD/aoz 1,846 India (Rs. per gm 24k/22k) 4,910 / 4,810, Silver (Rs. Per KG) 70,700

THOUGHT FOR THE DAY

Noise proves nothing. Often a hen who has merely laid an egg cackles as if she has laid an asteroid. - Mark Twain

OFF TRACK

A man was trying to pull out of a parking place but bashed the bumper of the parked car in front of him. Witnessed by a handful of pedestrians waiting for a bus, the driver got out, inspected the damage, and proceeded to write a note to leave on the windshield of the car he had hit.

The note read: "Hello. I have just hit your car, and there are some people here watching me who think that I am writing this note to leave you my name, phone number, and driver's license number, but I am not."