Here are the top 5 news updates of April 27, 2022:
Maharashtra Chief Minister Uddhav Thackeray today claimed the Centre owed Rs 26,500 crore to the state, after Prime Minister Narendra Modi said some states did not reduce VAT on petrol and diesel despite the excise duty cut by the Union government in November last year. Thackeray also accused the Centre of giving a step-motherly treatment to Maharashtra. During a virtual interaction with chief ministers on the emerging COVID-19 situation in the country, PM Modi today said some states did not reduce VAT on petrol and diesel despite the excise duty cut by the Centre last November and had done "injustice" to the people by not transferring the benefits of the move to them.
Country's largest life insurer LIC today set the price band at Rs 902-949 per share for its Rs 21,000 crore initial public offering (IPO), which will open for subscription on May 4. At the upper end of the price band the government will garner around Rs 21,000 crore. With this IPO, which is through an offer-for-sale (OFS) route, the government is looking to divest its 3.5 per cent stake in the insurer by selling 22.13 crore shares. Speaking on the occasion, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said listing of LIC is part of the long-term strategic vision of the government and will highly enhance the value of the corporation in the long-run.
3. Sedition Laws: Supreme Court to commence final hearing on pleas challenging constitutional validity
The Supreme Court today directed the Centre to file its response by the end of the week on a batch of pleas challenging the constitutional validity of the sedition law. A three-judge bench of Chief Justice N V Ramana and justices Surya Kant and Hima Kohli said it would commence the final hearing in the matter on May 5 and would not entertain any request for adjournment. "We direct the Centre to file reply by end of this week. Reply to the affidavit be filed by Tuesday. List the matter for final disposal without any adjournment on May 5," the bench said. The top court also noted in its order that senior advocate Kapil Sibal will lead the arguments from the petitioner's side in the matter.
Congress leader Rahul Gandhi today hit out at Prime Minister Narendra Modi over the exit of some global brands from India, and said "Hate-in-India" and Make-in-India cannot coexist. He also talked about unemployment in the country and urged the prime minister to focus on the "devastating unemployment crisis" instead. "The ease of driving business out of India. 7 Global Brands. 9 Factories. 649 Dealerships. 84,000 Jobs," he said on Twitter. Gandhi shared a picture on Twitter showing seven global brands -- Chevrolet in 2017, Man Trucks in 2018, Fiat and United Motors in 2019, Harley Davidson in 2020, Ford in 2021 and Datsun in 2022-- which have exited the country.
Benchmark stock indices Sensex and Nifty tumbled nearly 1 per cent today on profit booking in financial and IT stocks after a recent rally. The 30-share BSE Sensex tumbled 537.22 points or 0.94 per cent to end at 56,819.39. During the day, it tanked 772.57 points or 1.34 per cent to 56,584.04. The NSE Nifty declined by 162.40 points or 0.94 per cent to 17,038.40. From the 30-share Sensex pack, Bajaj Finance, Bajaj Finserv, ICICI Bank, Titan, Dr Reddy's, Wipro, State Bank of India, Infosys, Maruti and UltraTech Cement emerged as the major laggards. In contrast, Tata Steel, Asian Paints, HCL Technologies, TCS, Kotak Mahindra Bank, Reliance Industries and HDFC Bank were the gainers.