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The benchmark indices ended in the negative territory on Wednesday, bringing the 10-day rally to a halt,  a day after the World Bank said India’s economy is estimated to contract 9.6 per cent in the current financial year. The 30-scrip index had jumped 178.87 points, or 0.37 per cent, to touch 48,616.66 in the first few minutes of trade, and the broader NSE Nifty 50 benchmark added 44.65 points (0.31 per cent) to 14,244.15 – both all-time highs. The Sensex thereafter slumped 750 points to hit an intra-day low of 47,864 in the late-noon session before closing at 48,174.06, down 263.72 points or 0.54 per cent and the NSE Nifty ended at 14,146.25, down 53.25 points or 0.38 per cent. Reliance Industries, ITC and select information technology stocks led the decline in the markets.  India’s economy is estimated to contract by 9.6 per cent in the fiscal year 2020-21, reflecting a sharp drop in household spending and private investment, and the growth is expected to recover to 5.4 per cent in

Union Agriculture Minister Narendra Singh Tomar on Wednesday said those farmer unions, which are protesting against the farm laws, will understand the idea behind bringing laws for reforms in the agricultural sector and actively arrive at a solution after discussion. “The government of India is committed to the welfare of farmers. We meet those who are supporting the laws and those opposing it. I am sure that farmer unions who are agitating will understand the idea behind agriculture laws and they will think about the welfare of farmers and actively arrive at a solution by a positive discussion,” Mr Tomar told reporters. As the deadlock prevails after several rounds of talks with the Centre, farmer unions on Tuesday hinted at intensifying their protest against contentious agriculture laws and said that they would boycott Bharatiya Janata Party (BJP) and its allies in National Democratic Alliance (NDA).

In the backdrop of a raging farmers’ protest, Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday launched the Kisan Kalyan Mission in his state. The Kisan Kalyan Mission is aimed at doubling the income of the farmers in Uttar Pradesh by 2022. After the launch of the flagship programme, the UP Chief Minister, in a series of tweets wrote how the programme will benefit the farmers. Twitting a video of the inauguration of Kisan Kalyan Mission, Yogi Adityanath said, “as promised by his government, the development schemes for farmers will be rolled out in 825 localities.” The Chief Minister also wrote on the microblogging site that many opposition leaders have been trying to mislead the farmers. Under the Kisan Kalyan Mission, the farmers would be informed about the benefits of the new agriculture laws passed by the central government as well. On New Year’s Eve, Yogi Adityanath had asked his officers to ensure the implementation of Kisan Kalyan Mission, according to a report in news

Across India, lakhs of birds have been found dead in the last 10 days. At least four states – Himachal Pradesh, Madhya Pradesh, Kerala and Rajasthan- have confirmed bird flu, sounding an alert as the authorities step up efforts to contain the spread. Karnataka and Tamil Nadu are also vigilant after 12,000 ducks died in the last few days in neighbouring Kerala. In the northern part of the country, Jammu and Kashmir and Haryana, close to Himachal Pradesh, have also started investigating samples amid the scare. Bird flu or avian flu viruses can infect domestic poultry and other bird and animal species. The central government has identified 12 epicentres in four affected states and has issued an advisory to the states. In Kerala, around 24,000 birds, mostly ducks, were culled on Tuesday after the H5N8 strain of Avian Influenza was confirmed in parts of Alappuzha and Kottayam. Sale of poultry, and related products has been regulated only in the affected parts. H5N8 strain, according to offi

Domestic share markets turned flat after soaring to record highs on Wednesday amid renewed concerns about recovery from the COVID-19-caused slowdown, a day after the World Bank said India’s economy is estimated to contract 9.6 per cent in the current financial year. The 30-scrip index jumped 178.87 points, or 0.37 per cent, to touch 48,616.66 in the first few minutes of trade, and the broader NSE Nifty 50 benchmark added 44.65 points (0.31 per cent) to 14,244.15 — both all-time highs. Gains across financial, energy and metal shares were offset by losses in IT, consumer goods and pharmaceutical shares.  At 9:40 am, the Sensex traded 26.01 points, or 0.05 per cent, lower at 48,411.77 while the Nifty was down 1.25 point, or 0.01 per cent, at 14,198.25.   ITC, Reliance Industries, Hindustan Unilever, HDFC Life and Eicher Motors, trading between 0.54 per cent and 1.58 per cent lower, were the worst hit among 19 laggards in the Nifty basket of 50 shares.  On the other hand, GAIL, ONGC, Titan

More than 52 lakh new subscribers have been enrolled under Atal Pension Yojana (APY), during the financial year 2020-21 so far and the total enrolments have crossed landmark of 2.75 crores on December/31/2020. APY is a guaranteed pension scheme of Government of India which offers triple benefits to the subscribers, on attaining 60 years of age; minimum guaranteed pension to the subscribers, same guaranteed pension to the spouse after the demise of subscribers and return of the accumulated pension wealth as accumulated till age 60 of the subscribers, to their nominee. Despite the unprecedented challenges poised due to pandemic, addition of more than 52 lakh new subscribers in the financial year 2020-21 so far has been remarkable and result of untiring efforts of banks. During such period, State Bank of India has enrolled more than 15 lac new APY subscribers while other banks like Canara Bank, Indian Bank, Central Bank of India, Bank of India, Bank of Baroda, Airtel Payments Bank Ltd, Pu

A Muslim shopkeeper in western Uttar Pradesh’s Bulandshahr is in police custody after a First Information Report (FIR) was filed against him for selling a shoe whose sole had the name ‘Thakur’ – a so-called upper caste – embossed on it. The shopkeeper, Nasir, was detained by the police after a complaint by Vishal Chauhan, a leader of a right-wing outfit in the area. Nasir faces serious charges like promoting enmity between different groups on the grounds of religion, causing hurt and intentionally insulting someone resulting in breach of public peace. The right-wing leader’s complaint also mentions an unnamed shoe company. “A case has been filed under relevant sections at the concerned police station. The named accused is in the custody of the police and an investigation is on,” the Bulandshahr police tweeted.