Indian origin-billionaire, founder of Dubai’s Landmark Group Micky Jagtiani no more

New Delhi: Retail inflation increased to 5.08 per cent in June as kitchen items became dearer, according to government data released on Friday.

The Consumer Price Index (CPI) based retail inflation was 4.8 per cent in May 2024 and 4.87 per cent in June 2023 (previous low).

Inflation in the food basket was 9.36 per cent in June, up from 8.69 per cent in May, according to the data released by the National Statistical Office (NSO).

The government has tasked the Reserve Bank of India (RBI) to ensure that the CPI inflation remains at 4 per cent with a margin of 2 per cent on either side.

The RBI projected the CPI inflation for 2024-25 at 4.5 per cent, with Q1 at 4.9 per cent, Q2 at 3.8 per cent, Q3 at 4.6 per cent, and Q4 at 4.5 per cent.

The central bank mainly factors in the retail inflation while deciding its bi-monthly monetary policy.

New Delhi: In a relief to a Kannada news channel which extensively telecast the sex abuse case involving former JDS MP Prajwal Revanna and his family, the Supreme Court on Friday stayed a Karnataka High Court, stopping broadcast of Power TV on the ground of lack of proper licence.

A bench of Chief Justice of India D Y Chandrachud and Justices J B Pardiwala and Manoj Misra said this was nothing but sheer political vendetta.

"We are inclined to protect the freedom of speech and expression. It looks like a plain case of political vendetta and this court would be failing in its duty if it does not protect the petitioner," the bench said.

The court issued notice to the Union government and others on a petition filed by Power TV and others.

Solicitor General Tushar Mehta, appearing for the Union government, contended it was not borne out from record.

He said the show cause notice of February 9 was related to the channel subletting its uplink and downlinking licence.

The apex court, however, stayed the High Court order till Monday.

It also fixed the matter for hearing on Monday.

The Karnataka High Court had restrained Power TV from carrying out any broadcasting activity till July 9.

Justice S R Krishna Kumar had passed the interim order on June 25, after hearing two petitions filed by senior serving IPS officer Dr B R Ravikanthegowda, and JDS leader and MLC HM Ramesh Gowda and his wife Dr A Ramya Ramesh.

The petitioners claimed despite proceedings already initiated by the central government against the television channel and other private respondents, they continued to broadcast without arranging for the necessary licence renewal.

The Ministry of Information and Broadcasting stated a show cause notice was issued on a complaint, that the permission for Power TV was valid till October 12, 2021, and its renewal application dated December 30, 2022, was under examination.

The channel and its director Rakesh Shetty have reportedly been at the forefront of campaigns against Janata Dal (Secular) leaders like Prajwal Revanna and Suraj Revanna, who have been accused of sexual assault.

Bengaluru: Apex IT industry body Nasscom has expressed deep disappointment and concern over Karnataka's quota-for-locals bill mandating reservation for locals in private sector, and has exhorted the state government to withdraw the bill.

Nasscom's strong note of dissent assumes significance as it adds to the growing chorus of top industry voices, which have warned that the legislation would erode the state's edge in technology, and reverse the progress made so far.

The IT industry body has sought an urgent meeting with state authorities to discuss the concerns and "prevent the state's progress from being derailed", the association said.

"Nasscom members are seriously concerned about the provisions of this bill and urge the state government to withdraw the bill. The bill's provisions threaten to reverse this progress, drive away companies, and stifle startups, especially when more global firms (GCCs) are looking to invest in the state," a Nasscom release said.

Stating that the tech sector contributes to 25 per cent of the state GDP, houses a quarter of the country's digital talent, has over 11,000 startups and 30 per cent of the total GCCs, Nasscom contended that the restrictions could force companies to relocate as local skilled talent becomes scarce.

"In today's highly competitive landscape, knowledge-led businesses will locate where talent is as attracting skilled workers is crucial for success... For states to become a key technology hub a dual strategy is key - magnet for best talent worldwide and focussed investment in building a strong talent pool within the state through formal and vocational channels," it said.

The technology sector has been crucial to Karnataka’s economic and social development, with Bengaluru known globally as India's Silicon Valley.

"The technology sector contributes almost 25 per cent of the state GDP and has played a key role in enabling higher growth for the state, higher per capita income than the national average. With over a quarter of India’s digital talent, the state houses over 30 per cent of the total GCCs and around 11,000 start-ups," it said.

Nasscom rued that it is "deeply disturbing" to see this kind of bill which will not only hamper the growth of the industry, but impact jobs and the global brand for the state.

The Karnataka State Employment of Local Candidates in the Industries, Factories and Other Establishments Bill, 2024 was approved by the state cabinet on Monday, and it seeks to reserve 50 per cent of management positions and 75 per cent of non-management positions in the private sector for locals.

The Bill has triggered controversy and criticism from across industry. Industry veteran Mohandas Pai termed the Bill "very regressive", and "draconian".