MANIPUR TIMES

Mera Hauchongba: The Unique Festival of Manipur

2024-10-18T18:22:00.003+05:30

Mera Hauchongba: The Unique Festival of Manipur

Mera Hauchongba is a vibrant and significant festival celebrated in Manipur, particularly by the Manipuri Meitei community. This festival, which usually occurs in the month of September or October, holds immense cultural and spiritual importance, showcasing the rich traditions and values of the state. It is a colorful event filled with rituals, music, dance, and a deep sense of community.

Significance of Mera Hauchongba

The festival of Mera Hauchongba signifies the beginning of the agricultural season and is primarily dedicated to the worship of the deities who safeguard the crops and elders of the community. It is a time for expressing gratitude for the harvest and seeking blessings for a bountiful yield in the upcoming year. The name "Mera Hauchongba" translates to "the coming of the Houchong," referring to the arrival of the new harvest and the joy it brings.

Rituals and Celebrations

Mera Hauchongba is celebrated with great enthusiasm and participation from the community. The festival lasts for several days, and it typically kicks off with the ceremonial visit to sacred places and offerings made to the deities. People dress in traditional attire, and the atmosphere is filled with a sense of joy and reverence.

The Rituals

Offering to the Deities: Families prepare food and offerings, which are then presented at local temples and sacred groves. The offerings often include rice, fruits, and other agricultural products, symbolizing gratitude for the blessings received.
Community Gathering: Communities come together to celebrate the festival, reinforcing social bonds. People participate in traditional dances, singing folk songs, and playing musical instruments such as the pung (traditional drum) and the pena (a stringed instrument).
Cultural Performances: The highlight of Mera Hauchongba is the colorful cultural performances. Traditional dances like the Ras Leela, which portrays the love story of Radha and Krishna, are often performed, embodying the artistic heritage of Manipur. Local artists and dancers showcase their skills, captivating the audience and fostering a sense of pride in cultural identity.
Mera Makhou: The unique aspect of the festival is the ritual of Mera Makhou, where community members participate in the traditional practice of planting saplings. This act symbolizes the beginning of a new cycle of life and the importance of agriculture in the community.

Festive Atmosphere

The atmosphere during Mera Hauchongba is electric with excitement. Streets and homes are adorned with traditional decorations, and festive rhythms echo in the air. Food stalls offer a variety of local delicacies, allowing everyone to indulge in the rich culinary traditions of Manipur.

Community and Unity

One of the most notable aspects of Mera Hauchongba is its emphasis on community and solidarity. The festival brings people together regardless of age, gender, or social status, fostering a sense of belonging and unity. It is an occasion where people set aside their differences and come together to celebrate their shared culture and heritage.

Through collective participation in rituals and celebrations, the festival reinforces the values of cooperation, respect, and mutual support, which are integral to the Manipuri way of life.

Mera Hauchongba is more than just a festival; it is a celebration of life, culture, and community. Through its rich rituals and vibrant festivities, it highlights the deep connection between the Manipuri people and their agricultural roots. As it continues to be celebrated with fervor, Mera Hauchongba serves as a vital link between the past and present, ensuring that the cultural heritage of Manipur is preserved and cherished by future generations.

Visitors to Manipur during this festival are in for a captivating experience, witnessing the resilience, joy, and cultural richness that define the Manipuri identity. Mera Hauchongba stands as a testament to the vibrant traditions of the region and the enduring spirit of its people.

Loktak Lake: The Jewel of Manipur

2024-10-18T18:10:00.000+05:30

Nestled in the heart of Manipur, Loktak Lake is not only the largest freshwater lake in northeastern India but also a unique ecological wonder. Renowned for its stunning natural beauty and rich biodiversity, Loktak Lake has become a significant cultural, economic, and ecological asset for the region. This article explores the lake’s unique features, its ecological importance, the communities that depend on it, and the conservation challenges it faces.

Loktak Lake spans approximately 230 square kilometers and is famous for its floating phumdis—vegetation that drifts on the water's surface, forming a unique ecosystem. These phumdis consist of decomposed plant material and are home to various species of flora and fauna. The lake’s morphology, with its extensive wetlands and intricate waterways, offers breathtaking views and opportunities for exploration.

The lake is also home to diverse wildlife, including the endangered Sangai deer, which is endemic to Manipur. The biodiversity of Loktak is recognized internationally, and the lake is classified as a Ramsar Wetland of International Importance. This designation underscores its ecological significance as a crucial habitat for migratory birds and other aquatic species.

Cultural Importance

Loktak Lake holds profound significance for the local communities, particularly the Manipuri people. The lake plays an essential role in their daily lives, providing food, livelihoods, and cultural identity. Fishermen rely on the lake for their catch, which includes various fish species, while local farmers cultivate floating gardens on the phumdis. These gardens are a traditional method of agriculture that has sustained communities for generations.

The lake is also a site of spiritual importance. The Thanga and Sendra islands within Loktak are home to sacred sites and temples that draw devotees from across the region. Festivals and cultural events related to the lake's bounty are celebrated by the local population, showcasing their deep connection to this natural wonder.

Economic Significance

The economic impact of Loktak Lake extends beyond fishing and agriculture. The lake is a vital source of water for irrigation and is crucial for the local economy. It supports eco-tourism, drawing visitors who seek to experience its natural beauty. Boating, bird watching, and photography are popular activities, offering opportunities for locals to share their heritage with the world.

Furthermore, the lake's hydropower potential cannot be overlooked. The Loktak Hydropower Project, operated by the State Government, harnesses the lake’s water flow to generate electricity, providing power to many areas in Manipur. However, balancing energy production and ecological preservation poses a challenge.

Conservation Challenges

Despite its ecological and cultural significance, Loktak Lake faces numerous challenges. Pollution from agricultural runoff, urban development, and encroachments threatens the delicate ecosystem. The lake’s water level fluctuates dramatically due to seasonal changes and the operation of the hydropower project, affecting biodiversity and the livelihoods of local communities.

Moreover, climate change poses an additional threat. Changes in rainfall patterns and increased temperature can alter the ecosystem dynamics, impacting both flora and fauna. The government, along with various NGOs, is actively working to address these issues through conservation initiatives aimed at restoring and protecting Loktak Lake.

Efforts and Initiatives

To counteract environmental degradation, numerous programs have been initiated to raise awareness and promote sustainable practices among local communities. Conservation efforts focus on waste management, pollution control, and sustainable fishing practices to ensure the lake's health for future generations.

The promotion of eco-tourism is another strategy being implemented, encouraging responsible travel that benefits local communities while protecting the ecosystem. By integrating conservation efforts with economic opportunities, stakeholders hope to create a sustainable model for the preservation of Loktak Lake

10 Essential Tips for Maintaining a Healthy Lifestyle

2024-10-18T18:02:00.001+05:30

Maintaining a healthy lifestyle is crucial not only for physical well-being but also for mental and emotional health. With the hustle and bustle of modern life, it can be challenging to prioritize our health. However, implementing small, manageable changes can lead to significant improvements over time. Here are ten essential tips to help you on your journey to a healthier you.

1. Eat a Balanced Diet

Nutrition is the foundation of a healthy lifestyle. Aim to incorporate a variety of fruits, vegetables, whole grains, lean proteins, and healthy fats into your meals. Limit processed foods, added sugars, and unhealthy fats. Remember, it’s not about perfection but about making healthier choices more often.

2. Stay Hydrated

Water is vital for maintaining overall health. It aids digestion, keeps your skin glowing, and helps regulate body temperature. Aim for at least 8-10 glasses of water a day, and consider incorporating herbal teas and other low-calorie beverages into your routine.

3. Exercise Regularly

Physical activity is essential for maintaining a healthy weight, reducing the risk of chronic diseases, and improving mental health. Aim for at least 150 minutes of moderate aerobic activity or 75 minutes of vigorous activity each week. Find an activity you enjoy—be it walking, biking, dancing, or yoga—to make exercise a regular part of your life.

4. Prioritize Sleep

Sleep is critical for overall health. Lack of sleep can lead to various health issues, including obesity, heart disease, and diabetes. Aim for 7-9 hours of quality sleep each night. Create a bedtime routine, limit screen time before bed, and ensure your sleep environment is comfortable and dark.

5. Manage Stress

Chronic stress can take a serious toll on your health, contributing to anxiety, depression, and physical ailments. Find healthy ways to manage stress, such as practicing mindfulness, meditation, deep-breathing exercises, or spending time in nature. Regular physical activity can also be a great stress reliever.

6. Stay Connected

Social connections play a vital role in our mental health. Make time for family and friends, and engage in community activities. Building and maintaining relationships can provide emotional support and reduce feelings of loneliness.

7. Limit Alcohol and Avoid Smoking

Excessive alcohol consumption and smoking are linked to numerous health problems, including cancer, liver disease, and respiratory issues. If you drink alcohol, do so in moderation. If you smoke, seek help to quit; there are many resources available to support you.

8. Regular Health Check-Ups

Routine check-ups and screenings can help catch potential health issues early. Stay up-to-date with vaccinations and don’t hesitate to consult a healthcare professional if you notice any changes in your health.

9. Cultivate a Positive Mindset

Mental health is just as important as physical health. Practice gratitude and focus on the positive aspects of life. Surround yourself with positivity, whether through uplifting quotes, supportive friends, or engaging hobbies.

10. Set Realistic Goals

Making lifestyle changes can be daunting, so it's essential to set realistic and achievable goals. Break your larger health goals into smaller milestones, and celebrate your progress along the way. Remember that consistency is key—small changes can lead to big results over time.

Conclusion

Incorporating these ten essential tips into your daily routine can significantly impact your overall health and well-being. Remember that everyone’s journey is unique, so find what works best for you and start making changes at your own pace. Your body and mind will thank you!

By committing to a healthier lifestyle, you empower yourself to live life to the fullest. Here’s to your health!

NDRF Team Arrive at Manipur | Heavy rainfall causes flooding in many areas of Imphal

2024-05-30T09:20:00.003+05:30

NDRF (National Disaster Response Force) arrived at Manipur yesterday around 11:30 PM. Weather department officials have recorded 106.2 mm of rainfall in the Imphal West district since Sunday, based on available data.

Incessant rainfall since Sunday because of cyclone Remal has caused massive flooding in Manipur, with the water levels in most rivers passing through Imphal city increasing rapidly and two major rivers – Nambul and Imphal – alreadyoverflowing into several parts of Imphal East and West districts.

The Khurai area of Imphal East district witnessed the first incident of river flooding, which resulted in a river overflowing on both banks.Efforts from locals and the state government helped check the devastation along the eastern side of Imphal river, and efforts are on to contain the river flow on the western side in Khurai.

The state government has deployed teams of the National Disaster Response Force (NDRF) and the State Disaster Response Force (SDRF), who along with locals are evacuating people from affected areas.

France admits it’s lost control of parts of New Caledonia | The French president, Emmanuel Macron calls further security meeting as deadly unrest grinds

2024-05-20T21:45:00.002+05:30

A meeting has been called by French President Emmanuel Macron to discuss the deadly unrest in New Caledonia's Pacific territory. It is the third such meeting in less than week, the previous two having resulted in the decision to declare a state of emergency in the French territory and then to send reinforcements to help government forces on the ground restore order.

On Sunday, French forces smashed through dozens of barricades in a bid to retake the main road to La Tontouta international airport, which has been closed to commercial traffic since last Tuesday.

Authorities have said the airport will not reopen until midnight on Thursday French time, ignoring a request from Australia and New Zealand for it to be opened so they can evacuate their citizens.

“Republican order will be re-established whatever the cost,” the French high commissioner for New Caledonia, Louis Le Franc, told reporters in the capital Nouméa. If separatists “want to use their arms, they will be risking the worst”,

The resumption of the bodies of two gendarmes who perished in New Caledonia, Nicolas Molinari and Xavier Salou, brought forth the warning on Monday morning.

Gérald Darmanin, the interior minister of France, was present at the military base in Vélizy-Villacoublay in the south-west suburbs of Paris to honor the men who died and receive their funeral urns. Both gendarmes were based in the Paris region.

At least three other people, Indigenous Kanaks, have also been killed in the violence.

The night was described as “agitated” in terms of clashes between police and rioters, and the New Caledonian chamber of commerce said 150 island businesses had been pillaged and torched, leaving 1,000 people without work.

Remains of burned cars in Magenta. France has sent hundreds more troops to New Caledonia after days of riots.

New Caledonia, which has a population of approximately 270,000, has been experiencing unrest for a week. It was sparked by French plans to impose new rules that would give tens of thousands of non-Indigenous residents voting rights.

Pro-independence tensions have plagued the French territory off north-east Australia for a while, but this is the worst violence in decades.

FISHERY OFFICIALS AND AQUACULTURE EXPERTS DISCUSSED ABOUT THE FEASIBILITY FOR DEVELOPMENT OF COLDWATER FISHERIES AND AQUACULTURE IN MANIPUR

2024-05-20T19:04:00.005+05:30

Fisheries officials, aquaculture experts and scholars representing the State and Central Government institutions gathered in a brain storming meeting held today at the Directorate of Fisheries, Manipur at Lamphelpat and discussed about the feasibility for development of Coldwater fisheries and aquaculture in Manipur particularly in the hill districts. The meeting was organized by the Directorate of Fisheries, Manipur in collaboration with the ICAR - Directorate of Coldwater Fisheries Research (DCFR), Bhimtal, Uttarakhand.

Director of Fisheries, Manipur H. Balkrisna Singh while welcoming the initiative of ICAR-Directorate of Coldwater Fisheries Research, Bhimtal, Uttarakhand for development of Coldwater fisheries and aquaculture in Manipur has appreciated the efforts of Dr. Pramod Kumar Pandey, Director of DCFR for visiting Manipur and inspiring the stake holders for developing a roadmap for aquaculture and conservation strategies for the management of fish biodiversity and ecosystems. He further said that in view of the anthropogenic activities, it becomes imperative to have a discussion, debate and formulate a proper plan for the management and development of the state’s fisheries resources. Director of Fisheries, Manipur has expressed optimism in developing Coldwater fisheries in the state in view of the available potentials and logistic and technical support, hand holding of officials, etc. being provided by the DFCR, Bhimtal and Manipur University.

Participating the brainstorming session, Dr. Pramod Kumar Pandey, Director of ICR-DCFR advised the District Fishery Officers of hill districts to collect accurate data of rivers, lakes, reservoirs and water bodies having perennial water sources for exploration of feasibility of Coldwater fisheries and aquaculture, bring out protocols or strategies, develop eco-tourism, fish sanctuary and ornamental fisheries for indigenous fish species and create awareness regarding ban on illegal fishing practices. He also stressed on establishment of fish feed technology based on available local feed ingredients. Dr. Pandey assured of providing hand holding support to the officials of the Directorate of Fisheries, Manipur and other logistic and technical assistance through Department of Zoology, Manipur University where one breeding unit of coldwater fish species is being set up under the sponsorship of the DCFR, Bhimtal in near future. He also advised the Director of Fisheries, Manipur to submit a proposal for setting up of a Fish Pathology Laboratory in Manipur under the PMMSY scheme through the concerned Ministry and proposed for holding a State Level Workshop for stake holders in Imphal sometime in December this year after all the inputs and real time data collection is done.

Speaking on the session, subject expert, Dr. Rameshori Yumnam, Assistant Professor, Department of Zoology, Manipur University dwelt on robust data collection and conservation activities by imposing ban on illegal fishing practices and developing fish sanctuaries in appropriate hot spots by direct participation of the local populace.

Sapam Jiten Singh, District Fishery Officer, Chandel highlighted the scope and potential of Coldwater fisheries in Manipur through power point presentation. Senior officials of the Directorate of Fisheries, Manipur and District Fishery Officers also took part the discussion and contributed their knowledge and field experiences.

Coldwater fisheries have gained economic significance in India during recent years. It occupies a prominent place among the fresh water fishes. It is generally conducted in the waters that remain in the temperature range from 5 to 25 degree Celsius throughout the year. By introducing the cultural practice in Manipur, it will not only bring economic gains to the poor villagers of hill districts but also supplement fish production in Manipur.

A legal notice has been sent to Mamata Banerjee by Bharat Sevashram Sangha monk regarding remarks made about the organization.

2024-05-20T16:38:00.003+05:30

Mamata Banerjee, the chief minister of West Bengal, charged a section monks from three organizations with encouraging voters to support the BJP.

Swami Pradiptananda of Bharat Sevashram Sangha (BSS) on Monday sent a legal notice to West Bengal chief minister Mamata Banerjee seeking an unconditional apology in 48 hours two days after she named him while accusing a section of monks of working for the Bharatiya Janata Party (BJP).

“...call upon you [Banerjee] to forthwith address the press and issue an unconditional apology and retract your virulent and malafide statement within 48 hours from receipt of the instant notice and cease and desist from making further similar statements against my client defaming and maligning my client,” Pradiptananda’s counsel Billwadal Bhattacharyya said in the notice as per reports.

The notice said that if Banerjee did not reply within four days, it would be understood that she wanted to give wide publicity to the defamatory content to falsely and maliciously defame Pradiptanandaand.

It was added that Pradiptananda, who is the BSS secretary in Aurangabad, Beldakh (Murshidabad), and Payradanga (Nadia), better known as Kartick Maharaj, reserves the right to initiate criminal cases against Banerjee.

Banerjee expressed her admiration for monks, but not all of them are alike. “BSS has a unit in Berhampore. I have heard about a Maharaj [monk] for a long time.

He said he will not allow any TMC election agent in polling booths. I do not consider him a monk because he is directly involved in politics. He is ruining the country. I have great respect for Bharat Sevashram Sangha,” Banerjee said at a rally in Hooghly.

Prime Minister Narendra Modi on Sunday accused Banerjee of “bad-mouthing” and “threatening” ISKCON, RKM, and BSS to protect Muslims and infiltrators, calling them ruling Trinamool Congress (TMC)’s vote bank.

“...the chief minister is bad-mouthing our great organisations and maligning them under pressure from hardcore Muslim outfits to secure votes. TMC is insulting Bengal’s heritage and culture. They repeatedly use vulgar words against Ram Mandir [in Ayodhya]. Would not you reply to TMC’s appeasement politics with your votes,” Modi said at a rally in Bankura.

Two people were killed in an accident involving a Pune builder's son.

2024-05-19T12:34:00.001+05:30

Two people were killed in an accident caused by the son of a well-known builder in Pune that has come to light. The incident occurred in Kalyaninagar around 2:30 AM on Saturday.

Vedant Agarwal, who is the son of the owner of Brahma Realty, was responsible for killing two people in a fatal accident. An FIR was filed at Yerawada police station.

An FIR has been registered against Vedant Agarwal (R. Brahma Sun City) at Yerawada Police Station. Anis Avlia and Ashwini Kosta died on the spot in the accident.

Their friend, Ekib Ramzan Mulla, filed the complaint. Ashwini and Anis were traveling with friends from Kalyaninagar to Yerawada on their motorbikes when Vedant, driving his Porsche at high speed, lost control of the car. A motorcycle and other vehicles were involved in a collision with the car.

After leaving a pub in the area around 2:30 AM, Vedant's speeding car collided with other vehicles. Locals immediately ran and helped the victims. The police were informed of the incident, and social media has been flooded with videos of the accident.

Renown fashion designer Kumarjit Laishram was shot in the leg by the Koireng-led UNLF.

2024-05-19T12:06:00.000+05:30

Renown Fashion designer Kumarjit Laishram shot on the leg by the Koireng-led UNLF.

The injured has been identified as Kumarjit Laishram (32) s/o Sarat of Takyel Khongbal Maning Leikai. Last night, Kumarjit was presented to media at a location in Bishnupur district

According to Pibarel Angomcha, the spokesman for the UNLF led by Koireng, the organization has been helping the people of Manipur, particularly women, since it was established.

While the outfit has been promoting respect for all women, some individuals have been treating women like commodities of trade.

"This is rather unfortunate and the outfit has taken serious note of such immoral and illicit activities"

Kumarjit too confessed his illicit activities. He was found shot on the left calf by some unknown persons suspected to be cadres of the Koireng-led UNLF near Khumbong PHC in the Imphal West district under Patsoi police station.

Kumarjit revealed in a viral video on Facebook that he acts as a pimp for high-class individuals, including some of the current ministers and current Education director.

It is unfortunate that the Education Director and some of the ministers are involved in this turn of events. while the state is in trumore.

AAP Says Arvind Kejriwal Home Video Exposes Swati Maliwal "Lie", She Snaps

2024-05-18T10:07:00.001+05:30

AAP Says Arvind Kejriwal Home Video Exposes Swati Maliwal "Lie", She Snaps

The Aam Aadmi Party and Swati Maliwal traded bitter barbs Friday evening as each pushed back against the other over the latter's claims - that she was "slapped seven times (and) kicked in the stomach" by Arvind Kejriwal's aide, Bibhav Kumar, while inside the Chief Minister's home.

Atishi(AAP leader ) began the exchange with a sharp attack at a press conference, in which she accused Ms Maliwal of colluding with the Bharatiya Janata Party to discredit the AAP during the general election.

Ms Maliwal responded shortly afterwards on X (formerly Twitter)

"This goon (seen as a reference to Mr Kumar) is threatening the party, 'If I get arrested I will reveal all secrets'. That is why he is roaming in Lucknow and everywhere seeking shelter..."

Slamming Bibhav Kumar as a 'goon' who had pressured the party into attacking her, she directed her anger towards him.

Earlier, Atishi referred to a 52-second video of Monday's confrontation between Ms Maliwal and staffers at Mr Kejriwal's home - in which she is seen (briefly) and heard arguing with the guards, who repeatedly demand she leave the premises.

The video shows a woman believed to be Ms. Maliwal refusing, threatening the guards with police action, and then daring to be physically thrown out.

Pointing to the video the AAP leader claimed it exposed "plans" hatched by the BJP to target Mr Kejriwal - who was released on bail last week after his arrest in March on corruption charges - days before the Delhi Lok Sabha election.

"Ever since Arvind Kejriwal got bail the BJP has been rattled. Due to this, BJP hatched a conspiracy, under which Swati Maliwal was sent to Arvind Kejriwal's house on the morning of May 13. They intended to accuse the Chief Minister... but he was not there then, so he was saved," she said.

"Swati Maliwal was the face and pawn of this conspiracy..." Atishi declared.

Following the PSU stock split, Canara Bank shares experienced a 5% increase.

2024-05-15T15:24:00.003+05:30

As the scrip was divided into shares with lower face value, Canara Bank Ltd's share price increased by 5 per cent during Wednesday's trade. The fully paid up shares of Canara Bank, having face value of Rs 10 each, have been sub-divided into five fully paid up shares of Canara Bank with face value of Rs 2 each.They have thus turned ex-date for the corporate action.

Adjusting for the split, the stock stood at Rs 118.40 on BSE, up 4.54 per cent. Canara Bank shares have become more affordable for retail investors to buy, which is seen as boosting liquidity on the counter.

It is also seen broadening the retail investors base. The bank has a 6 per cent stake owned by 7,39,996 retail investors who have up to Rs 2 lakh shares.

Rekha Rakesh Jhunjhuwala (1.45% stake) and 337 other high-net-worth individuals together owned a combined 4.65 percent stake in the PSU lender as of March 31.

The bank's shares have increased to 907,06,51,260 from 181,41,30,252 previously. Stocks that are already owned are divided into stocks with lower face values during a stock split.

The impact on share capital is negligible because it is not similar to bonus shares, where additional shares are given to existing shareholders based on the number of shares owned.

The announcement of bonus shares is different from a stock split in that it distributes gains from accumulated earnings without paying cash to shareholders. As new shares are issued, they reduce reserves and transfer money to share capital.

With the bank consistently maintaining stable net interest margin, ongoing moderation in credit costs and sustained return on asset of 1 per cent for several quarters, JM Financial expects Canara Bank's rerating to continue going ahead.

Unidentified Four Armed persons looted the SBI branch located at K. Salbung Village, Churachandpur

2024-05-02T17:04:00.002+05:30

Unidentified armed persons looted the State Bank of India (SBI) branch located in K. Salbung village, under the jurisdiction of Churachandpur Police Station today at around 2 pm. It is also learnt that likely 4 miscreants with weapons entered the bank and also fired one round and looted around 20 lakh rupees. Further, the miscreants have fled away towards Kangvai, Churchandpur.

Economic Challenges in Manipur: An Overview

2023-01-14T12:34:00.002+05:30

The Gross Domestic Product (GDP) of Manipur is a measure of the economic activity in the state. According to data from the Central Statistical Office (CSO), the GDP of Manipur was around INR 71,622 crores in 2020-2021. The state's GDP growth rate has been fluctuating over the past few years, it was around 8.5% in 2018-2019 and dropped to 0.2% in 2019-2020 due to the COVID-19 pandemic.

It's worth noting that, as a state with a low level of economic development, the GDP per capita of Manipur is relatively low compared to other states in India. According to the 2011 census, the GDP per capita of Manipur was INR 34,944 crores.

The economy of Manipur is primarily based on agriculture and forestry. The state is known for its production of rice, maize, pulses, oilseeds, and fruits. The state also has a significant forest cover, which supports the timber and bamboo industries.

Manipur also has some small-scale industries such as handicrafts, handloom, and sericulture. However, these industries are not well-developed and face challenges such as a lack of infrastructure, poor access to markets, and limited access to credit.

Tourism is also an important sector for the state, as it has a rich cultural heritage and natural beauty. However, the state has not been able to tap its full potential in this sector due to poor infrastructure, security issues, and lack of promotion.

The state has a high level of unemployment, which is a major challenge for the economy. The state has a large number of educated youth, but there are limited job opportunities available, which has led to a high level of migration to other states in search of employment.

Overview of some of the main challenges facing the economy of Manipur:

Lack of revenue-generating resources
Poor financial management
High level of unemployment
Corruption
Security issues
Infrastructure

These are some of the main challenges that the Manipur economy is facing and they are interrelated and affect one another.

Lack of revenue-generating resources

The lack of revenue-generating resources is one of the main challenges facing the economy of Manipur. The state has a limited ability to generate its own revenue and is heavily dependent on central government funding. This has led to a lack of financial autonomy for the state government and has limited its ability to invest in key areas such as infrastructure and social services.

The state's economy is primarily based on agriculture and forestry. While these sectors are important for the state, they do not generate enough revenue to support the state's development needs. Additionally, the state's economy is not well diversified, which limits its ability to generate revenue from other sources.

Another problem is the poor state of the state's infrastructure, which has limited its ability to attract private investment. The state also has limited access to credit, which has hindered the growth of small and medium-sized enterprises.

The state government has been taking steps to address this issue by implementing various policies to promote economic development and attract investment. However, progress has been slow and the state continues to face a significant revenue shortfall.

Poor financial management

Poor financial management is another major challenge facing the economy of Manipur. The state has a high level of debt, which has been exacerbated by poor financial management practices. This has limited the state government's ability to invest in key areas such as infrastructure and social services.

There are several reasons why the state's financial management has been poor. One of the main reasons is a lack of financial expertise and capacity within the state government. Additionally, there is a lack of transparency and accountability in the state's financial management, which has led to the misuse of funds and financial irregularities.

The state also has a limited ability to generate its own revenue, which has led to a reliance on central government funding. This has resulted in a lack of financial autonomy for the state government and has limited its ability to make strategic investments.

The state government has been implementing various measures to improve financial management, such as increasing transparency and accountability, and building capacity within the state government. However, progress has been slow, and more needs to be done to address this issue.

Lack of investment

Lack of investment is another major challenge facing the economy of Manipur. The state has been unable to attract significant investment from the private sector, which has limited economic growth and job creation.

There are several reasons why the state has been unable to attract investment. One of the main reasons is the poor state of the state's infrastructure, which has made it difficult for businesses to operate. Additionally, the state has a poor business climate, with high levels of corruption and bureaucratic red tape.

Another reason is the security situation in the state, which has deterred investors from setting up operations there. The state has been facing insurgency problems for a long time which has also affected the economic development of the state.

Furthermore, the state has a limited ability to generate its own revenue, which has limited its ability to invest in key areas such as infrastructure and social services.

The state government has been taking steps to address this issue, such as implementing policies to promote economic development and attract investment. However, progress has been slow and the state continues to face a significant investment shortfall.

High level of unemployment

A high level of unemployment is a major challenge facing the economy of Manipur. The state has a large number of educated youth, but there are limited job opportunities available, which has led to a high level of migration to other states in search of employment.

There are several reasons why the state has a high level of unemployment. One of the main reasons is the poor state of the state's economy, which has limited job creation. Additionally, the state has a limited ability to generate its own revenue, which has limited its ability to invest in key areas such as infrastructure and social services.

Another reason is the lack of investment from the private sector, which has limited job creation. The state also has a poorly developed industrial sector, which has limited job opportunities.

The state government has been taking steps to address this issue, such as implementing policies to promote economic development and create jobs. However, progress has been slow and the state continues to face a significant unemployment problem.

Corruption

Corruption is a significant problem in the state of Manipur and it is one of the major challenges facing the state's economy. Corruption can take many forms, including bribery, embezzlement, and nepotism, and it can have a negative impact on economic development by distorting the allocation of resources and hindering investment.

Corruption can discourage private investment, as investors may view a corrupt environment as risky. It also undermines fair competition and can lead to the misallocation of resources, which can lead to inefficiencies in the economy.

Corruption can also have a negative impact on the delivery of public services, as corrupt officials may divert resources intended for public services to their own use. This can lead to a lack of access to essential services for the population.

The state government has been taking steps to address this issue, such as implementing policies to promote transparency and accountability, and building capacity within the state government. However, progress has been slow, and more needs to be done to address this issue.

Security issues

Security issues are a significant challenge facing the economy of Manipur. The state has been facing insurgency problems for a long time, which has affected the economic development of the state. The insurgency can take many forms, such as separatist movements, ethnic conflicts, and criminal gangs, and it can have a negative impact on economic development by creating a sense of insecurity among the population and deterring private investment.

Insurgency and security issues can disrupt the normal functioning of the economy, as businesses may be forced to close or relocate due to insecurity. It can also lead to a lack of access to essential services, such as education and healthcare, as well as a decrease in tourism due to the lack of safety.

Security issues can also lead to a lack of access to markets, as businesses may be unable to transport goods and services due to insecurity. This can lead to a decrease in economic activity and a lack of job opportunities.

The state government has been taking steps to address this issue by implementing various measures to improve security, such as deploying security forces and implementing policies to promote economic development. However, progress has been slow and the state continues to face significant security challenges.

Infrastructure

Inadequate infrastructure is a major challenge facing the economy of Manipur. The state has a poor state of infrastructure, which has limited its ability to attract private investment and promote economic development.

Poor infrastructure can make it difficult for businesses to operate, as they may be unable to transport goods and services efficiently. This can lead to a lack of access to markets, which can decrease economic activity and job opportunities.

Additionally, poor infrastructure can make it difficult for people to access essential services, such as education and healthcare. This can lead to a lack of access to basic services and a decrease in the overall standard of living.

Poor infrastructure can also negatively impact tourism, which is an important sector for the state, as it has a rich cultural heritage and natural beauty. Poor road, air, and rail connectivity can discourage tourists from visiting the state.

The state government has been taking steps to address this issue by investing in infrastructure development, such as building roads, airports, and other public facilities. However, progress has been slow and the state continues to face significant infrastructure challenges.

Limited access to credit

Limited access to credit is another major challenge facing the economy of Manipur. Small and medium-sized enterprises (SMEs) face difficulty in accessing credit from banks. This can limit their ability to grow and create jobs, which can negatively impact the state's economy.

There are several reasons why SMEs in Manipur have limited access to credit. One of the main reasons is a lack of creditworthy borrowers, as SMEs may not have a sufficient track record of business operations or collateral to secure a loan.

Additionally, the state has a poorly developed financial sector, which limits the availability of credit. Limited access to financial services, such as banking and insurance, can make it difficult for SMEs to access credit.

Another reason is the lack of financial literacy among SMEs, which can make it difficult for them to access credit. They may not understand how to apply for a loan or how to manage their finances effectively.

The state government has been taking steps to address this issue, such as implementing policies to promote economic development and access to credit. However, progress has been slow and the state continues to face significant challenges in this area.

Understanding Pakistan's Financial Crisis: A Chronological Analysis

2023-01-14T11:48:00.004+05:30

Understanding Pakistan's Financial Crisis: A Chronological Analysis

Pakistan has been facing a financial crisis in recent years, characterized by a large fiscal deficit, high inflation, and a balance of payments crisis. The crisis has been exacerbated by a combination of factors, including high government spending, a large trade deficit, and a shortage of foreign exchange reserves. The government has been forced to seek financial assistance from international organizations such as the International Monetary Fund (IMF) to help stabilize the economy. The current Pakistani Government is taking steps to address the crisis, including implementing austerity measures and structural reforms. The situation remains challenging, and it will take time for the economy to fully recover.

The Build-Up (2000-2017)

During the period of 2000-2017, Pakistan's economy grew at a moderate pace, but the government's finances deteriorated due to a combination of factors. Some of the key factors that contributed to the build-up of the financial crisis include:

1. High Military Spending: Pakistan has a large military establishment, and a significant portion of the government's budget is allocated to defense spending. This led to a growing fiscal deficit and a decrease in resources available for other areas such as infrastructure and social services.

2. Large Energy Subsidies: The government provided large subsidies to keep energy prices low for consumers, which increased the fiscal deficit and reduced resources available for other areas.

3. Lack of Tax Revenue: Pakistan has a low tax-to-GDP ratio, and a significant portion of the economy is informal and untaxed. This led to a lack of revenue for the government and a reliance on borrowing to finance its spending.

4. Political Instability: Political instability and changing governments also contributed to the financial crisis, as policies and priorities changed frequently and there was a lack of continuity in economic policy.

These factors led to a growing fiscal deficit, an increase in external debt, and a decline in foreign exchange reserves, setting the stage for the balance of payments crisis that would occur in the following years.

The Balance of Payments Crisis (2017-2018)

The balance of payments crisis in Pakistan occurred during the period of 2017-2018 and was characterized by a sharp decline in foreign exchange reserves and the country's inability to meet its external debt obligations. Some of the key factors that contributed to the crisis include:

1. Current Account Deficit: Pakistan had a large trade deficit, with imports consistently exceeding exports. This led to a shortage of foreign currency, making it difficult for the country to service its external debt and pay for essential imports.

2. Depreciation of the Rupee: The value of the Pakistani rupee against the US dollar fell sharply, which increased the cost of servicing external debt and led to inflation.

3. Shortage of Foreign Exchange Reserves: By 2017, Pakistan's foreign exchange reserves had dropped to a critically low level, making it difficult for the government to meet its external debt obligations and pay for essential imports.

4. Political Instability: Political uncertainty and the lack of a clear economic policy also contributed to the crisis, as investors were hesitant to invest in the country and foreign currency reserves continued to decline.

The government was forced to seek a bailout from the International Monetary Fund (IMF) to avoid defaulting on its loans and stabilize the economy. The IMF loan was conditional on the implementation of austerity measures and structural reforms, which would be the key elements of the following chapter.

The IMF Bailout (2018-2019)

In 2018, Pakistan reached an agreement with the International Monetary Fund (IMF) for a $6 billion loan package to address the balance of payments crisis and stabilize the economy. The loan was conditional on the implementation of a series of austerity measures and structural reforms, including:

1. Fiscal Consolidation: The government was required to reduce its fiscal deficit by cutting expenditures and increasing revenue collection.

2. Monetary Tightening: The central bank raised interest rates to help curb inflation and stabilize the currency.

3. Devaluation of the Rupee: The government allowed the rupee to depreciate against the US dollar to increase exports and reduce imports.

4. Tax Reforms: The government implemented a number of tax reforms to increase revenue collection, including the widening of the tax base, increasing tax rates, and cracking down on tax evasion.

5. Energy Sector Reforms: The government also implemented structural reforms in the energy sector to reduce subsidies and improve the efficiency of state-owned enterprises.

The IMF bailout and the implementation of these measures helped stabilize the economy, but it came at a cost, as it resulted in a contraction of the economy and a rise in unemployment, inflation, and poverty. The government also struggled to adhere to the conditions of the agreement, which led to delays in the disbursement of the loans.

The COVID-19 Pandemic (2019-2020)

The COVID-19 pandemic had a significant impact on Pakistan's economy, exacerbating the already challenging economic situation. The pandemic caused a sharp decline in economic activity, as businesses were shuttered and trade and travel were disrupted. Some of the key ways in which the pandemic affected the economy include:

1. Economic Contraction: The pandemic caused a significant decline in economic activity, leading to a contraction in GDP and a decrease in government revenues.

2. Job Losses: The pandemic caused widespread job losses, particularly in the informal sector, leading to an increase in unemployment.

3. Supply Chain Disruptions: The pandemic caused disruptions to global supply chains, making it difficult for Pakistan to import raw materials and export finished goods.

4. Loss of Remittances: The pandemic also caused a significant decline in remittances from Pakistanis working abroad, which are a major source of foreign exchange for the country.

5. Increase in Public Debt: The government had to borrow heavily to finance the stimulus package to support the economy, which caused an increase in public debt.

To mitigate the impact of the pandemic, the government of Pakistan implemented a number of measures, including providing financial assistance to businesses and individuals affected by the crisis, increasing spending on healthcare and social protection programs, and seeking additional financial assistance from international organizations such as the IMF.

Post-Pandemic Scenario (2020-current)

The post-pandemic scenario in Pakistan has been characterized by a recovery in economic activity, but the country is still facing a number of challenges. Some of the key challenges include:

1. High Inflation: Despite the contraction of the economy, inflation has remained high, driven by factors such as food and energy prices.

2. Low Foreign Exchange Reserves: Pakistan's foreign exchange reserves are still low and the country is struggling to meet its external debt obligations.

3. Heavy Debt Burden: The country's debt burden has increased significantly due to the pandemic and the government's efforts to stabilize the economy.

4. Slow Economic Recovery: The recovery in economic activity has been slow, and unemployment remains high.

5. Political Instability: The country is facing political instability, which has led to uncertainty in the economy and has affected investor sentiment.

The government has been implementing a number of measures to address these challenges, including controlling expenses and increasing revenue collection through tax reform and broadening of the tax base. The government is also working on improving the ease of doing business and promoting foreign investment. The situation remains challenging, and it will take time for the economy to fully recover.

FACTS ABOUT THE SANTHALS TRIBE YOU MAY NOT KNOW

2022-04-15T12:19:00.003+05:30

According to population figures, the Santhals are the most populous tribal group in India today. They are indigenous to the Indian states of Jharkhand, West Bengal, and Odisha.

They lived in harmony with nature until the nineteenth century, practising shifting agriculture and hunting. They lived in Birbhum, Barabhum, Manbhum, Palamau, and Chhotanagpur's hilly regions.

These areas were administered by the Bengal Presidency, whose authority was transferred to the British following the Battle of Plassey in 1757. The onslaught of the Zamindari system that they introduced disrupted the Santhal way of life. They were forced to work as bonded labourers on their own land in their own homes.

The barter system was used by the tribals for commercial activity. When currency was introduced as a result of colonial intervention, people began to rely on moneylenders. These moneylenders took advantage of them and drove them into abject poverty. They were burdened by heavy debts that kept piling up amidst the poverty and humiliation of being landless in what was traditionally their territory.

Two years before the Great Revolt of 1857, on June 30, 1855, two Santhal brothers, Sidhu and Kanhu Murmu, organised 10,000 Santhals and declared a rebellion against the British. The tribals swore an oath to drive the British out of their homeland. Phulo and Jhano Murmu, the Murmu brothers' sisters, were also active in the rebellion.

When the cops arrived to arrest the brothers, the villagers killed them. They were successful in capturing large areas of land, including the Rajmahal Hills, the Bhagalpur district, and Birbhum.

Despite the fact that the rebellion caught the government off guard, it was crushed with a heavy hand. The British firepower could not compete with the tribal warfare methods of spears and arrows. Around 15000 Santhal villagers were killed, including the Murmu brothers, and their villages were destroyed.

The landlords supported the government whereas the local people including the milkmen and the blacksmiths supported the Santhals.

The Santhals were valiant fighters, but they were also honourable. According to some British observers at the time, the Santhals used poisoned arrows for hunting but not against their enemies in battle. The British came to 'civilise' the natives, which is ironic. Martial law was declared on November 10, 1855, and it lasted until January 3, 1856.

The Santhal revolt was overshadowed by the 1857 revolt, but it remains a watershed moment in the evolution of modern Santhali identity. It was instrumental in the formation of the state of Jharkhand in 2000.

Fight over momo: Thunderstorms and quarrels erupted in Mumbai with Momo.

2022-04-15T11:45:00.004+05:30

Mumbai is well-known for its street food. With that street food, the two groups got into trouble on the side of the road.

On Monday, April 11th, residents of the Shankaracharya Marg area of Powai, Mumbai, were confronted with Momo. They dragged the issue into a brawl after splitting into two groups. Many people travelled through the area on horseback during the riots, but no one wanted to get in trouble.

The police arrived on the scene after hearing the news. He brought the situation under control by putting a stop to both groups' activities. So far, four people have been arrested by police.

According to a police official, the cause of the incident was not immediately clear.

Just as the words Momo conjure up images of Darjeeling, Sikkim, Nepal, and Tibet, the words Pao Bhaji and Faluda conjure up images of Mumbai. So the situation with Momo on the streets of Mumbai is incredible.

A similar incident occurred exactly one year ago in an Uttar Pradesh chat shop. That video quickly went viral on the internet.

Powerful Explosions Heard in Ukraine's Kyiv Following the Sinking of a Russian Warship

2022-04-15T11:28:00.008+05:30

Ukraine War: The explosions appeared to be among the most significant in the capital region of Ukraine since Russian troops withdrew earlier this month.

Kyiv/Lviv: Powerful explosions were heard in Kyiv early Friday, and air raid sirens blared across Ukraine as residents braced for new Russian attacks following the sinking of Moscow's lead warship in the Black Sea due to a fire.

The explosions appeared to be among the most powerful in Ukraine's capital region since Russian troops withdrew earlier this month in preparation for battles in the south and east.

The missile cruiser's crew of over 500 people was evacuated after ammunition on board exploded, according to the ministry, which did not confirm an attack. Ukraine claims to have hit the warship with a locally manufactured Neptune anti-ship missile.

The ship's destruction comes as Russia's military continues its Black Sea shelling of Ukrainian cities some 50 days after the invasion began. On the adjacent Azov Sea, residents of Odesa and Mariupol have been prepared for additional Russian attacks.

In an early morning video speech, Ukrainian President Volodymyr Zelensky alluded to the sunken warship, warning of Russian intentions to target the eastern Donbas region, including Mariupol.

Air raid sirens sounded across Ukraine shortly after midnight on Friday, and continued to blare in the eastern districts of Luhansk and Zaporizhzhia even after the rest of the country fell silent, according to Ukrainian media.

Why Do Most Smokers Never Get Lung Cancer, According to DNA Mutation Research

2022-04-13T13:06:00.001+05:30

Despite the fact that cigarette smoking is the leading cause of lung cancer, only a small percentage of smokers develop the disease. Some smokers may have robust systems that protect them from lung cancer by restricting mutations, according to a study headed by academics at Albert Einstein College of Medicine and published online on April 11, 2022 in Nature Genetics. The findings could assist identify smokers who are at a higher risk of developing the condition and should be closely monitored.

"This could be a significant step toward lung cancer risk prevention and early detection, moving away from the current herculean efforts needed to combat late-stage disease, where the majority of health expenditures and misery occur," said Simon Spivack, M.D., M.P.H., a co-senior author of the study, professor of medicine, epidemiology & population health, and genetics at Einstein, and a pulmonologist at Montefiore Health System.

Overcoming Challenges in Cell Mutation Research

Smoking has long been thought to cause lung cancer by causing DNA abnormalities in normal lung cells. Jan Vijg, Ph.D., a study co-senior author and professor and chair of genetics, professor of ophthalmology and visual sciences, and the Lola and Saul Kramer Chair in Molecular Genetics at Einstein, said, "But that could never be proven until our study because there was no way to accurately quantify mutations in normal cells" (also at the Center for Single-Cell Omics, Jiaotong University School of Medicine in Shanghai, China). Dr. Vijg overcome this challenge a few years ago when he developed a better method for sequencing the whole genomes of individual cells.

When studying cells with rare and random mutations, single-cell whole-genome sequencing technologies might generate sequencing errors that are difficult to identify from real mutations, which is a major problem. Dr. Vijg came up with a new sequencing technology called single-cell multiple displacement amplification to overcome the problem (SCMDA).

The Einstein researchers utilised SCMDA to analyse the mutational landscape of normal lung epithelial cells (cells that line the lungs) from two groups of people: 14 never-smokers ranging in age from 11 to 86, and 19 smokers ranging in age from 44 to 81 and having smoked a total of 116 pack years. (One pack year is one pack of cigarettes smoked every day for a year.) The cells were taken from people who were having a bronchoscopy for a reason other than malignancy. “These lung cells survive for years, even decades, and thus can accumulate mutations with both age and smoking,” said Dr. Spivack. "Of all the cell types in the lungs, these are the ones that are most prone to turn malignant."

Mutations Caused by Smoking

The researchers discovered that mutations (single-nucleotide variations and minor insertions and deletions) accumulated in the lung cells of nonsmokers as they grew older, and that smokers' lung cells had considerably more mutations. Dr. Spivack stated, "This experimentally demonstrates that smoking increases lung cancer risk by increasing the frequency of mutations, as previously hypothesised." “This is likely one reason why so few non-smokers get lung cancer, while 10% to 20% of lifelong smokers do.”

The number of cell mutations discovered in lung cells grew in a straight line with the number of pack years of smoking, implying that the risk of lung cancer increased as well. However, after 23 pack years of exposure, the increase in cell mutations came to a halt.

“The heaviest smokers did not have the highest mutation burden,” said Dr. Spivack. "Our findings show that these people survived so long despite their severe smoking because they were able to prevent additional mutation accumulation." This leveling off of mutations could stem from these people having very proficient systems for repairing DNA damage or detoxifying cigarette smoke.”

Sora is in a tense situation, with an indefinite bandh in effect.

2022-04-09T11:33:00.004+05:30

The government, assisted by a significant number of security officers, attempted to resume demarcation of Yatihibi Loukol territories acquired earlier for the construction of the National Sports University this morning, resulting in a difficult situation in Sora and nearby districts.

Following the relocation of the National Sports University to Haraothel, the State Government is intending to build a giant food park at Yaithibi Loukol.

Yesterday, a team of government officials attempted to demarcate the acquired area, but locals violently protested the practise, resulting in a violent conflict between police and demonstrators.

Some protesters and police personnel were injured in the confrontation.

The delineation exercise was halted when government officials and local leaders led by elected representatives agreed to resume it only once the government and the local people had achieved an agreement.

Some government officials, followed by a significant number of security forces, attempted to resume the demarcation exercise this morning, but they were met with strong opposition from the locals.

Local residents claim that the demarcation operation is an attempt to acquire homesteads and the local mosque, which were not included in the territory acquired earlier in the name of the National Sports University's construction.

Nonetheless, amid heavy security deployment, the government began digging drains with excavators to create a boundary between the surrounding villages of Yaithibi Loukol, namely Sora, Koijam, and Langthabal.

In protest of the government's initiative, a large number of Sora residents attempted to halt the digging of the drain, but police repulsed them by firing several rounds of tear gas shells.

Enraged by the renewed demarcation attempt, a mob set fire to a police booth at Sora Chinglak and a motorcycle (Bajaj Pulsar) allegedly belonging to police.

As the situation deteriorated, police opened several rounds of fire in the air in an attempt to maintain control.

Later, around 3.30 p.m., a large group of protesters succeeded in driving the police force away from Khongjom by pelting stones and firing sling shots.

Many police vehicles were damaged in the process and some police personnel too sustained injuries.

Local people of SORA decided to impose an indefinite bandh on Imphal-Moreh highway until the issue if Yaithibi Loukol is resolve, on the other hand people coming from Moreh to kakching road were diverted to Papal.

How much protein is needed to eat per day? What can happen if you play too much

2022-03-25T15:50:00.005+05:30

Protein is an essential nutrient in the body. To take care of the body, to maintain the balance of blood sugar, estrogen hormones and a healthy thyroid, above all, the body needs enough protein for overall well-being. Lack of protein can lead to excessive physical illness. Adequate protein is needed to strengthen muscles. Protein is equally important for weight control.

Those who want to lose weight and become lean need to include protein rich foods in their daily diet. Protein-rich foods help keep the stomach full for a long time. As a result, the tendency to eat protein foods again and again will be eliminated.

However, how much protein should be eaten depends on body weight, height, physical condition, age. The need to eat protein means that eating protein without following any rules can be counterproductive. A healthy adult man and woman can consume 50-60 grams and 60-70 grams of protein per day respectively. Pregnant women or those who are breastfeeding need more protein.

In addition, those who exercise regularly or have physical weakness can also eat the right amount of protein-rich foods following the advice of nutritionists.

It is important to include protein rich foods in your daily diet. Start the morning with a few protein-rich foods like eggs, various seasonal fruits. For the rest of the day, even if it is a small amount of protein.

Fire breaks out in Charbhairavi market, half a hundred shops burnt down

2022-03-24T14:23:00.004+05:30

A fire broke out at a food hotel in Charbhairabi Bazar of Haimchar upazila of Chandpur and burnt down about 50 shops in the market.

The incident took place around 5:30 am on Thursday. The fire was brought under control around 8 am with the help of local people and two teams of fire service.

Witness Shimul Chokder, a resident of Charbhairabi, said, “The fire started from the kitchen of Islamia Hotel in Bazar. The fire broke out at a nearby gas cylinder, petrol, diesel and yarn shop. As a result, at least 50 other small and large shops in the area were set on fire.

'Most of the shops were closed at that time. Besides, most of the shops where people used to stay were praying at that time.

Anwar Sardar, a businessman affected by the fire, said, “I had goods worth around Tk 2 crore in my business establishment next to the hotel where the fire started. Among them were various types of yarn nets including petrol, diesel and gas cylinders for fishermen. Everything has been burnt to ashes in an instant. '

Charbhairabi UP member Almas Bakaul said, “This market depends on the local Jalepalli. Apart from the essentials of fishermen, other daily necessities are also available here. That is why there are shops selling petrol, diesel and gas cylinders in the open market or in tin houses.

Chandpur Fire Service Deputy Director. Sahidul Islam said, 'After receiving the news of the fire, our two units came there as soon as possible and controlled the fire. But as there were shops of cylinder gas, petrol and diesel irregularly, about 50 shops were burnt down at that moment.

He added, 'Most of the shops could not be protected as they were made of wood and tin. The fire spread quickly in the strong winds as the shops were on the banks of the river. However, the amount of damage has not been confirmed yet.

Confirming the start of the fire from the food hotel, he said the local administration had compiled a list of victims at the scene.

HDFC Life to acquire Exide Life Insurance for Rs 6,687 crore

2021-09-03T15:44:00.002+05:30

Private sector life insurer HDFC Life on Friday said it will acquire a 100 per cent stake in Exide Life Insurance Company for Rs 6,887 crore from Exide Industries Ltd (EIL) and subsequently, it will be merged with HDFC Life, subject to regulatory approvals.

This marks one of the first and the largest acquisitions in the life insurance space, which has 23 private players and one state-owned insurer - Life Insurance Corporation (LIC). Previously, HDFC Life had intended to acquire Max Life but the deal did not go through because of regulatory hurdles. Experts said this deal will, however, is not expected to face any such regulatory hurdles.

Earlier, Reliance Capital, the NBFC arm of the Anil Dhirubhai Ambani Group, had acquired the entire stake in AMP Sanmar from Australian insurer AMP and the Sanmar group in October 2005 for a little over Rs 100 crore. HDFC Life’s proposed acquisition will mark the first acquisition in the past 16 years in the life insurance space.

Of the Rs 6,887 crore that HDFC Life will be paying to acquire Exide Life Insurance, Rs 725 crore will be payable in cash, and the balance by issuing 87.02 million equity shares of face value of Rs 10 of the company issued at a price of Rs 685 per share to Exide Industries Limited, the holding company of Exide Life Insurance. EIL's total investment in Exide Life as on date was Rs 1679.59 crore.

Post the acquisition, Exide Industries will hold a 4.1 per cent stake in HDFC Life and mortgage lender HDFC Ltd, which holds 49.9 per cent stake in HDFC Life, will see its stake come down to 47.9 per cent.

In a statement, HDFC Life, one of the largest private insurers in the life insurance space, said, “The proposed transaction will accelerate the growth of the agency business of HDFC Life. Exide Life complements HDFC Life’s geographical presence and has a strong foothold in South India, especially in Tier 2 and 3 towns, thus providing access to a wider market”.

HDFC Life’s agent base will get augmented by 36,700 agents post the acquisition and its agent base will grow to 144,605 from the current 107,895 agents.

Also, the good quality of predominantly traditional and protection focussed business will augment the existing embedded value of HDFC Life by approximately 10 per cent. As of June 30, the embedded value of Exide Life is Rs. 2,711 crore and

The date of completion of the sale depends on the time taken for receiving all approvals, including those from concerned regulators. However, it is estimated that the sale will be completed before June 2022.

“The proposed transaction will give customers access to a wider bouquet of products and service touchpoints. Employees and agents will benefit from a larger, stronger organisation that realises the synergies arising out of complementary business models built on similar ethos”, HDFC Life said in a statement.

In FY21, Exide Life Insurance earned premiums to the tune of Rs 3,325 crore. It’s asset under management was to the tune of Rs 18,870 crore as of June 30, 2021. Exide life reported revenue of Rs 4,937.46 crore in the year ended March 2021 with a net worth of Rs 1,481.42 crore.

On the proposed acquisition, Deepak Parekh, chairman, HDFC Life said, “This is a landmark transaction, first of its kind, in the Indian life insurance space. It would enhance insurance penetration and further our purpose of providing financial protection to a wider customer base.”

Vibha Padalkar, MD&CEO, HDFC Life said, “We believe that this amalgamation can result in value creation for customers, employees, shareholders and distribution partners. It gives us an opportunity to realise synergies arising out of complementary business models, and further bolster our proprietary distribution network”.

Shares of HDFC Life are trading 3 per cent lower at Rs 735.90 post the announcement of the acquisition.

HDFC Life had reported a 33 per cent decline in standalone net profits at Rs 302 crore in Q1FY22 due to higher claim payout by the company and higher provisions being set aside to mitigate the impact of higher claims because of the pandemic. It has set up an additional reserve of Rs 700 crore to service further claims. The solvency ratio of the insurer at the end of Q1FY22 stood at 203 per cent, higher than the regulatory requirement of 150 per cent.

An industry expert said insurance by nature is a capital-guzzling business so it’s the management’s call whether to infuse capital in the company at regular intervals or exit the company completely by selling it lock, stock, and barrel. With foreign direct investment in the insurance sector increased to 74 per cent, we may see promoters of smaller companies exit the space by selling their stake to foreign companies.

Delhi Records Less Than 2,000 Cases In 24 Hours

2021-05-24T12:18:00.002+05:30

May 24,2021

New Delhi: Delhi recorded 1,649 new COVID-19 cases, the lowest since March 30, and 189 fatalities on Sunday, while the positivity rate slipped to 2.42 per cent, even as Chief Minister Arvind Kejriwal extended the lockdown in the capital by another week.

This is the second day on the trot that the number of deaths remained less than 200.

This is also the lowest daily spike in cases recorded since March 30 (992) and the first time that the count has gone below the 2,000-mark since April 1, when 2,790 people tested positive for the infection.

Meanwhile, India delayed the process of bulk-buying vaccines unlike several other nations and may now have few options available in the international market. "Aren't we a little late to the table on this one?" said Dr Gagandeep Kang, a top virologist who is also a member of the Supreme Court-appointed committee on medical oxygen.

"The rest of the world has been buying vaccines at risk for a year, so what's the supply that is available in the market for us to go now and say we want to buy vaccines?" she said.

Don’t force me to use my constitutional powers: WB Governor to TMC Govt

2021-05-17T11:53:00.003+05:30

Don’t force me to use my constitutional powers: WB Governor to TMC Govt

KOLKATA: WEST Bengal Governor Jagdeep Dhankhar has warned the State’s newly-elected Trinamool Congress (TMC) Government to “not force me to use my constitutional powers”, sparking a fresh artillery exchange with the ruling party. “He forgot his constitutional position by calling for a change in the State. His appeal was rejected, so old man is now obviously frustrated,” said Trinamool spokesperson Kunal Ghosh, while reacting to the Governor’s warning. Governor Dhankhar has been touring ‘violence-hit areas’ since the Trinamool returned to power with a landslide.

His visit to Sitalkuchi in Northern Bengal provoked angry response from Chief Minister Mamata Banerjee, who reminded Dhankhar of his constitutional obligations of working on the ‘aid and advice’ of the elected Government. The trip to Sitalkuchi, hit by poll-time violence where some voters were killed in firing by Central forces, was followed by Dhankhar’s visit to makeshift camps in Assam where ‘victims of political violence’ in West Bengal were sheltered.

His comment that this was a ‘blot on governance’ in West Bengal provoked accusations that Dhankhar was ‘less a Governor and more a BJP functionary.’ Dhankhar on Saturday said he was shocked at the condition of several families who were rendered homeless after they had allegedly faced atrocities at the hands of ruling TMC workers. He wondered whether the Chief Minister has heard the cries of women and children, who took refuge in camps after clashes.

UN General Assembly To Consider Call For Myanmar Arms Embargo

2021-05-17T11:48:00.003+05:30

UN General Assembly To Consider Call For Myanmar Arms Embargo

United Nations, United States: The UN General Assembly on Tuesday is set to consider a draft non-binding resolution calling for "an immediate suspension" of the transfer of weapons to the military junta of Myanmar, a UN official said Sunday.

Unlike Security Council resolutions, General Assembly resolutions are non-binding but carry strong political significance.

If an approval by consensus cannot be reached then the full General Assembly 193 member states will vote on the measure.

Introduced by Liechtenstein, with support from the European Union, Britain, and the United States, the measure will be considered at the plenary meeting set for Tuesday at 1900 GMT.

The draft resolution calls for "an immediate suspension of the direct and indirect supply, sale, or transfer of all weapons, munitions, and other military-related equipment to Myanmar."

"The meeting will be in person," a UN spokesman told AFP.

The draft, which has been under negotiation for weeks, is co-sponsored by 48 countries, with South Korea the sole Asian country.

It also calls on military to "end the state of emergency" and immediately stop "all violence against peaceful demonstrators," as well as "immediately and unconditionally release President Win Myint, State Counsellor Aung San Suu Kyi" and everyone who has been "arbitrarily detained, charged or arrested" since the February 1 coup.

The draft adds a call to "swiftly implement" a five-point consensus reached with leaders from the 10-country Association of Southeast Asian Nations (ASEAN) on April 24, to "facilitate the visit" of the special UN envoy to Myanmar, and to provide "safe and unimpeded humanitarian access."

Several NGOs have long been calling for an arms embargo on Myanmar.

Since February 1, the Security Council has unanimously adopted four statements on Myanmar, but each time, they have been watered down in negotiations, notably by Beijing.