India beat Malaysia 4-3 and clinch a record fourth Asian Champions Trophy title at the Mayor Radhakrishnan Stadium in Chennai. Malaysia were aggressive in the first half as the Indians found it difficult to restrict their opponent. With four Asian Champions Trophy titles, India is the most successful team in the history of the tournament. Pakistan, with three titles, are at the second spot now. Akashdeep led the attack scoring the opening goal and overall, India had five different goal scorers in the semi-finals of which four of them scored field goals – Karthi Selvam, Mandeep Singh, Akashdeep Singh, and Sumit.
Japan take 3rd spot after beating South Korea 5-3. Japan finished behind Malaysia in the Asian Champions Trophy tournament after the beat defending champion South Korea 5-3 in the third-place playoff tie in Chennai.
Asian Champions Trophy title 2023 Squads
Malaysia: Muhammad Mohd, Amirul Azahar, H Othman, Deris Mat Zaimi, Shello Silverius, Razie Rahim, Faiz Jali, Najib Hassan, Kamal Azral Abu, K Hamirin, Muhammad Hassan, Najmi Jazlan, Marhan Jalil, Ashran Hamsani, Azuan Hasan, Fitri Saari, Abdu Muhajir, Faizal Saari, R Rosli, Firhan Ashari
India: Jugraj Singh, RP Sreejesh, Jarmanpreet Singh, Krishan Pathak, Harmanpreet Singh, Manpreet Singh, Sumit, Varun Kumar, Sukhjeet Singh, Hardik Singh, Amit Rohidas, Akashdeep Singh, Samsher Singh, Nilakanta Sharma, Mandeep Singh, S Karthi, Gurjant Singh, Vivek Sagar Prasad.
Subhash Runwal receives the Lifetime Achievement Award RICS
Subhash Runwal, Chairman of Runwal, a leading real estate developer with a legacy of over four decades, has been recognized with the Lifetime Achievement Award at the first-ever RICS South Asia Awards. RICS (Royal Institution of Chartered Surveyors) is a global industry body representing professionals across the country.
Hosting its first-ever awards, it aimed to recognize global and Indian industry-leading achievements and demonstrate the upholding of the highest standards of professionalism and ethics by individuals and teams across built and natural environments. This recognition is a testimony to Runwal’s exceptional contributions, outstanding achievements, and unwavering dedication to the real estate sector.
Established in 1978, Runwal is one of Mumbai’s premier real estate developers, operating in the residential, commercial, and organized retail verticals for over 4 decades, with a robust track record of 42+ delivered projects and 24 ongoing projects. The developer boasts of over 35,000+ happy families; it has continuously driven to keep the ‘customer’ as a focal point in the designing, planning, and construction of all its projects. The testimony of their legacy has been that 35+ awards have been won by the group over these years.
About the RICS (Royal Institution of Chartered Surveyors)
RICS (Royal Institution of Chartered Surveyors) is a global industry body representing professionals across the country. Hosting its first-ever awards, it aimed to recognize global and Indian industry-leading achievements and demonstrate the upholding of the highest standards of professionalism and ethics by individuals and teams across built and natural environments.
Government Employee Unions Rally for Pension Rights in Delhi
Government employee unions have organized a massive rally in Delhi, named the “Pension Rights Maharally,” to voice their demand for the reinstatement of the Old Pension Scheme. The rally was orchestrated by the Joint Forum for Restoration of Old Pension Scheme (JFROPS)/National Joint Council of Action (NJCA), representing central and state departments’ employees. The event took place at Ramlila Maidan on August 10.
The rally garnered participation from a diverse range of employees, including those from central and state departments, railways, public sector undertakings (PSUs), teaching professionals, defense personnel, and ex-paramilitary personnel from across the nation. This significant turnout highlighted the widespread concern regarding the pension scheme issue.
Critique of New Pension Scheme (NPS)
Shiv Gopal Mishra, the NJCA’s national convener and the general secretary of All India Railway Men’s Federation (AIRF), addressed the media during the rally. He emphasized the dissatisfaction among employees who entered government service after January 1, 2004, due to their strong opposition to the New Pension Scheme (NPS). The primary contention lies in the uncertainty faced by employees under the NPS upon retirement, contrasting with the more secure Old Pension Scheme.
Jeopardized Future and Old Age Support
Mishra underscored that the introduction of the New Pension Scheme has put the future and old age support of millions of employees at risk. This concern prompted the establishment of the Joint Forum for Restoration of Old Pension Scheme (JFROPS)/NJCA. The group’s efforts have encompassed various forms of protests, from demonstrations at the state level to torch processions at Jantar Mantar in Delhi.
Appeals and Memorandums
In their pursuit of reclaiming the Old Pension Scheme, the unions have presented memorandums to district officials, governors, cabinet secretaries, and even Prime Minister Narendra Modi. These appeals aim to draw attention to the gravity of the matter and the potential ramifications on employees’ lives.
Demands and Warnings
Mishra expressed the unions’ viewpoint, asserting that employees who dedicate their careers to the service of their organization and country should not be denied adequate support in their old age. He characterized this as a fundamental right and urged the government to promptly reinstate the Old Pension Scheme. Mishra also cautioned that if the government fails to respond to their demand, the unions could resort to a “Bharat Bandh” (nationwide strike), which would bring the entire nation to a halt. In such a scenario, he emphasized that the government would bear sole responsibility for the consequences.
New Bill Proposes Changes in Appointment Process for Election Commissioners in India
The central government of India has recently introduced a bill in the Rajya Sabha that aims to modify the process of appointing the Chief Election Commissioner and other Election Commissioners of the country. The proposed bill includes significant changes to the composition of the selection committee responsible for these appointments.
Exclusion of Chief Justice of India from the Selection Panel
One of the notable changes proposed by the bill is the removal of the Chief Justice of India from the selection committee that determines the appointments of the Chief Election Commissioner and other Election Commissioners. This alteration is seen as a departure from the previous arrangement and has sparked discussions about the implications for the independence of the Election Commission.
New Composition of the Selection Panel
According to the provisions outlined in the new bill, the selection panel responsible for appointing the Chief Election Commissioner and Election Commissioners will now consist of three members:
Prime Minister: The head of the government, responsible for executive decision-making.
Leader of Opposition in Lok Sabha: A prominent figure representing the opposition parties in the lower house of Parliament.
Cabinet Minister: A member of the government’s cabinet, entrusted with specific administrative responsibilities.
Background and Rationale
The bill’s introduction follows a significant ruling by the Supreme Court in March, aimed at ensuring the impartiality and autonomy of the Election Commission. Prior to this ruling, appointments to the Election Commission were made based on the government’s recommendations and were ultimately approved by the President.
The Supreme Court’s decision outlined a selection process involving the Prime Minister, the Leader of Opposition in the Lok Sabha, and the Chief Justice of India. However, the new bill seeks to redefine this process, emphasizing the roles of the Prime Minister, Leader of Opposition, and a Cabinet Minister while omitting the Chief Justice of India.
Criticism and Response
The proposed bill has attracted criticism from various quarters, with the Congress party being particularly vocal in its opposition. The Congress has labeled the bill as an overt attempt to diminish the Election Commission’s autonomy and transform it into a tool controlled solely by the Prime Minister.
The Chief Election Commissioner and other Election Commissioners (Appointment Conditions of Service and Term of Office) Bill, 2023, has been tabled for consideration in the Rajya Sabha. Union Law Minister Arjun Ram Meghwal is spearheading this legislative effort, aiming to “regulate the appointment, conditions of service and term of office of the Chief Election Commissioner and other Election Commissioners, the procedure for transaction of business by the Election Commission and for matters connected therewith or incidental thereto”.
Indian Film Festival of Melbourne (IFFM) 2023 full winners list
The Indian Film Festival of Melbourne (IFFM) Awards once again took center stage, honouring the finest cinematic gems from the Indian film industry. The 14th Indian Film Festival of Melbourne (IFFM) Awards were held in Melbourne, Australia, on 11 August, honouring the best of film and OTT content from India globally.
Filmmaker Karan Johar was honoured for completing 25 years in the Indian film industry as a Filmmaker. He received a huge round of applause for his immense contributions in the field of entertainment. Indian Economy to Grow at 6% in FY24, Say NIPFP Researchers
In a recent mid-year macroeconomic review, the National Institute of Public Finance and Policy (NIPFP) has forecasted that India’s economic growth will likely decelerate to 6% in the financial year 2023-24 (FY24), down from the 7.2% recorded in FY23. This projected slowdown is attributed to prevailing headwinds in the global economy. The NIPFP analysis takes into consideration various economic indicators and trends, offering valuable insights into the potential trajectory of India’s economy.
Sectoral Performance in Q1
The review highlights a robust industrial sector performance in the first quarter (Q1), particularly in the construction and consumer non-durables segments.
However, the agricultural sector’s growth remained subdued, and the services sector experienced sluggish growth during the same period.
Inflation Outlook and Monetary Policy
The review indicates that retail inflation is forecasted to remain below the 6% limit at 5.1% for the current financial year.
This lower inflation projection is attributed to the delayed effects of monetary policy transmission and a broad-based decline in food, energy, and core inflation.
The inflation outlook holds significance in influencing monetary policy decisions and shaping consumer sentiments.
Reserve Bank of India’s (RBI) Perspective
The RBI maintains its real GDP forecast for FY24 at 6.5% in its recent assessment.
The projection is based on expectations of heightened rural and urban growth, increased investment activities, and the government’s commitment to higher capital expenditure.
The central bank, however, revises its inflation estimates, anticipating an inflation rate of 5.4% for FY24.
The quarterly breakdown of inflation predicts figures of 6.2% for Q2, 5.7% for Q3, and 5.2% for Q4, respectively.
The RBI’s stance provides insights into India’s economic prospects from a monetary policy standpoint.
Global Economic Context
The NIPFP’s projection of a 6% growth rate for FY24 is influenced by the broader global economic conditions.
External factors such as shifts in global trade dynamics, commodity price fluctuations, and uncertainties related to pandemic recovery collectively shape India’s economic performance.