🔊 PM Modi's attack on Congress wealth redistribution agenda | 🥛 Nandini Milk's sponsorship of Ireland, Scotland teams reignites Amul v Nandini row
PM Modi's comments on the Congress' wealth redistribution has been interpreted as communally divisive. And, Nandini's international sponsorship deals has reignited the Nandini-Amul row.
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Market Watch
Indian benchmark indices ended the day in the green with the Sensex up 560.29 points at 73,648.62, and the Nifty up 189.40 points at 22,336.40.
All sectoral indices ended in the green with Auto, PSU bank, Capital Goods, Oil & Gas, FMCG, Healthcare and Realty gaining up to 3%.
PM Modi speaks on wealth redistribution; opposition calls it attack on Muslims; BJP says its facts
Prime Minister Narendra Modi's remarks suggesting that the Congress party plans to redistribute the country's wealth to Muslims has drawn sharp criticisms from opposition leaders.
What he said: PM Modi cited former PM Manmohan Singh’s remark about minorities having the first claim on the country’s resources and said the Congress will even snatch ‘mangalsutras‘ from women and give them to 'infiltrators' and those with more children.
What Manmohan Singh said:
In response, the Congress party refuted Modi's allegations, stating that their manifesto does not mention wealth redistribution and that Rahul Gandhi's comments on wealth distribution were misrepresented.
Back in 2014, the UPA PMO had issued a clarification on the statement made by Singh:
Of note: Opposition parties deem Modi's speech as violative of the Model Code of Conduct. This is what it says on the use of communal statements:
Indian Express reports that given the MCC has no statutory backing, violations of its directives are not legally binding and “anybody breaching the MCC can’t be proceeded against under any clause of the Code. Everything is voluntary. The EC uses moral sanction or censure for its enforcement.”
The intrigue: However, since PM Modi did not directly solicit votes through his speech, it is unlikely that his statement could be regarded as violative of the MCC.
Clip du jour
This video made by RT India about the Doordarshan anchor fainting while reporting on the heatwave
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Why Nandini Milk’s sponsorship of Ireland and Scotland reignited the Amul row
KMF, known for its brand 'Nandini', will sponsor Scotland and Ireland in the T20 World Cup, to expand its global brand presence, as confirmed by KMF Managing Director MK Jagadish; however, this strategic move has been met with varied reactions ahead of the elections in Karnataka.
The details: The sponsorship initiative by KMF seeks to enhance Nandini's brand visibility on an international platform, leveraging the cricket event for marketing and brand upliftment.
Due to KMF's status as a public sector undertaking, they are awaiting permission from the Election Commission to proceed with the sponsorship deal, in compliance with the election code of conduct.
KMF's decision to sponsor smaller teams is a cost-effective strategy that provides visibility without the high advertising costs associated with more popular cricket teams.
Yes, but: Mohandas Pai, former CFO of Infosys, lambasted the Karnataka government for using funds from a largely Karnataka-based cooperative to sponsor foreign cricket teams, suggesting that these resources could instead support local teams, artists, and farmers.
Reactions on social media platforms have been mixed, with some users questioning Pai's rationale and others supporting Nandini's initiative to go global.
Of note: Despite criticisms, KMF's MD reiterated that a significant portion of KMF's income benefits farmers and emphasized the importance of global reach for the brand.
ICYMI
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🌶️ After Singapore, Hong Kong has banned 4 spices from MDH calling them unsuitable for consumption.
♟️ India’s D Gukesh, at 17 years of age, has won the FIDE Candidates 2024, becoming the youngest-ever contender for the World Chess Championship title.
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🧑🎓 The University Grants Commission (UGC) is now allowing students with four-year bachelor's degrees to directly pursue a PhD.