India Inc votes: Ambanis among first to exercise franchise

Agencies
April 29, 2019

Mumbai, Apr 29: Captains of the Indian industry, including the Ambanis, Tata Sons chairman N Chandrasekaran and Adi Godrej were among the early voters in Mumbai on Monday during polling for the fourth and final phase of Lok Sabha elections.

Chandrasekaran and his wife voted at a polling booth at Worli in Central Mumbai, while Godrej cast his ballot in the Malabar Hill area in south Mumbai.

Reserve Bank governor Shaktikanta Das also exercised his democratic right near his official residence at Pedder Road, his first vote after taking charge as head of the central bank in December last year.

Others to cast their votes included Anil Ambani, who came in early at a booth in Cuffe Parade, and auto major Mahindra and Mahindra's managing director Pawan Goenka, who exercised his franchise in suburban Juhu.

Ashish Chauhan, the managing director and chief executive of Asia's oldest stock bourse BSE, also cast his vote, as did American brokerage Morgan Stanley's managing director Riddham Desai.

Most of the corporate chieftains cast their vote in Mumbai-South constituency, where Congress candidate Milind Deora is challenging incumbent Arvind Sawant of the Shiv Sena.

Deora recently got public endorsement from Reliance Industries chairman Mukesh Ambani and ace banker Uday Kotak.

Other bigwigs of India Inc are also expected to cast their vote as the day progresses.

Voting is underway since 7 am across Maharashtra's 17 Lok Sabha seats where 3.11 crore voters are eligible to exercise their democratic right.

Polling is being held in Nandurbar, Dhule, Dindori, Nashik (North Maharashtra), Palghar, Bhiwandi, Kalyan, Thane, Mumbai-North, Mumbai-North West, Mumbai-North Central, Mumbai-North East, Mumbai-South and Mumbai-South Central in the Mumbai region, Maval and Shirur in Pune district, and Shirdi in Ahmednagar district.

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News Network
June 24,2020

Kolkata, Jun 24: Trinamool Congress (TMC) MLA Tamonash Ghosh, who had tested positive for Covid-19 in May, died at a hospital here on Wednesday, party sources said.

He was 60.

The three-time MLA from the Falta assembly constituency in South 24 Parganas district was admitted to a hospital after he tested positive for the disease, they said.

He had several complications related to the heart and the kidney, the sources said.

"Very, very sad. Tamonash Ghosh, 3-time MLA from Falta & party treasurer since 1998 had to leave us today. Been with us for over 35 years, he was dedicated to the cause of the people & party. He contributed much through his social work," West Bengal Chief Minister and TMC supremo Mamata Banerjee tweeted.

"He has left a void that will be difficult to fill. On behalf of all of us, heartfelt condolences to his wife Jharna, his two daughters, friends and well-wishers," she added.

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News Network
February 14,2020

Feb 14: R K Pachauri, a former chief of The Energy and Resources Institute, passed away on Thursday after a prolonged cardiac ailment, TERI Director General Ajay Mathur said.

He was 79.

"It is with immense sadness that we announce the passing away of R K Pachauri, the founder Director of TERI. The entire TERI family stands with the family of Dr Pachauri in this hour of grief," Mathur said in a statement issued by the TERI.

"TERI is what it is because of Dr Pachauri's untiring perseverance. He played a pivotal role in growing this institution, and making it a premier global organisation in the sustainability space," said Mathur, who succeeded Pachauri at TERI in 2015. Pachauri was admitted to Escorts Heart Institute in the national capital where he underwent open heart surgery and was put on life support on Tuesday, sources said.

In the statement issued by TERI, its Chairman Nitin Desai hailed Pachauri's contribution to global sustainable development as "unparalleled".

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News Network
January 31,2020

New Delhi, Jan 31: Chief Economic Adviser K V Subramanian on Friday said India's GDP is expected to grow at 6-6.5 per cent next fiscal as the economic slowdown has bottomed out.

As per the first advance estimates released by the National Statistical Organisation (NSO), the country's economic growth is likely to hit an 11-year low of 5 per cent in the current fiscal ending March 2020.

The Economic Survey 2019-20, prepared by a team lead by Subramanian, has projected the GDP to expand in the range of 6-6.5 per cent during 2020-21.

The Indian economy has hit the bottom and it will see an uptick from here, he said in a media briefing post the Economic Survey.

Amidst a weak environment for global manufacturing, trade and demand, the Indian economy slowed down with GDP growth moderating to 4.8 per cent in the first half of 2019-20, lower than 6.2 per cent in H2 of 2018-19.

Based on NSO's first advance estimates of GDP growth for 2019-20 at 5 per cent, an uptick in GDP growth is expected in the second half of the fiscal, it said.

According to it, the uptick in second half of 2019-20 would be mainly due to ten positive factors like picking up of Nifty India Consumption Index for the first time this year, an upbeat secondary market, higher FDI flows, build-up of demand pressure, positive outlook for rural consumption, rebound of industrial activity, steady improvement in manufacturing, growth in merchandise exports, higher build-up of foreign exchange reserves and positive growth rate of GST revenue collection.

The survey also emphasised that merger of public sector banks may increase the financial strength of the merged entities, lower the risk aversion and result in lowering of lending rates.

Further, as the implementation of GST further settles down, the increased unification of the domestic market may reduce business costs and facilitate fresh investment.

Reforms in land and labour market may further reduce business costs, said the survey, presented a day before Sitharaman's Union Budget 2020-21.

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