This Indian king had maximum gold at time of independence, gave 425 kg gold to govt for..., his name was..., he ruled...
According to a report by Financial Express, Mir Osman Ali Khan had more than 100 million pounds (45359 tons) of gold. Apart from this, there were diamonds, pearls, rubies and other jewels worth around 400 million pounds. Famous historians Dominic Lapierre and Larry Collins write in their book 'Freedom at Midnight' that the Nizam of Hyderabad had so much gold that dozens of trucks filled with gold bricks used to stand in the mud in his garden. Because of the weight of these trucks, their wheels had sunk. Apart from this, the Nizam had so many pearls at that time that if he wanted, he could cover all the pavements of London's famous Piccadilly Circus with them. 425 kg gold was handed over to the government
Historians tell that in 1965, when the war between India and Pakistan broke out, the then Prime Minister Lal Bahadur Shastri started a campaign to raise funds. During this time, the government started the National Defense Gold Scheme. According to the information, the Nizam had invested 4.25 lakh grams (425 kg) of gold in this scheme. This is also mentioned in a speech of Lal Bahadur Shastri.
According to a report of The Hindu dated 11 December 1965, when Lal Bahadur Shastri came to Hyderabad, the Nizam welcomed him at the airport. Later on the same day, Lal Bahadur Shastri addressed a rally and congratulated Nizam Mir Osman Ali Khan for investing 4.25 lakh grams of gold in the National Defense Gold Scheme. According to the information, the value of that gold at that time was around 50 lakhs. India's first billionaire
Nizam Mir Osman Ali Khan is also called India's first billionaire. Osman Ali, who took over the Nizam's throne in 1911 at the age of just 25, had a total wealth of two percent of America's GDP at that time.
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India.com
9 hours ago
- India.com
This Indian king had maximum gold at time of independence, gave 425 kg gold to govt for..., his name was..., he ruled...
New Delhi: India got independence on 15 August 1947. At the time of independence, there was a king in the country who had the most gold at that time. It is said that he had so many pearls that if he wanted, he could have covered all the pavements of Piccadilly Circus in London with those pearls. We are talking about the Nizam of Hyderabad, Mir Osman Ali Khan, who was called the richest man not only in India but in the world. Today we are going to tell you some facts related to Mir Osman Ali Khan. Trucks full of gold According to a report by Financial Express, Mir Osman Ali Khan had more than 100 million pounds (45359 tons) of gold. Apart from this, there were diamonds, pearls, rubies and other jewels worth around 400 million pounds. Famous historians Dominic Lapierre and Larry Collins write in their book 'Freedom at Midnight' that the Nizam of Hyderabad had so much gold that dozens of trucks filled with gold bricks used to stand in the mud in his garden. Because of the weight of these trucks, their wheels had sunk. Apart from this, the Nizam had so many pearls at that time that if he wanted, he could cover all the pavements of London's famous Piccadilly Circus with them. 425 kg gold was handed over to the government Historians tell that in 1965, when the war between India and Pakistan broke out, the then Prime Minister Lal Bahadur Shastri started a campaign to raise funds. During this time, the government started the National Defense Gold Scheme. According to the information, the Nizam had invested 4.25 lakh grams (425 kg) of gold in this scheme. This is also mentioned in a speech of Lal Bahadur Shastri. According to a report of The Hindu dated 11 December 1965, when Lal Bahadur Shastri came to Hyderabad, the Nizam welcomed him at the airport. Later on the same day, Lal Bahadur Shastri addressed a rally and congratulated Nizam Mir Osman Ali Khan for investing 4.25 lakh grams of gold in the National Defense Gold Scheme. According to the information, the value of that gold at that time was around 50 lakhs. India's first billionaire Nizam Mir Osman Ali Khan is also called India's first billionaire. Osman Ali, who took over the Nizam's throne in 1911 at the age of just 25, had a total wealth of two percent of America's GDP at that time.
Business Standard
9 hours ago
- Business Standard
R Jagannathan
R Jagannathan is a Journalist with over 47 years of experience in journalism. Currently he is a Editorial Director of Swarajya and Chairman of Indian Institute of Mass Communication (IIMC). He has been a part of many launch teams, including Business Today, DNA and Firstpost. He has also helped revamp many business publications as Editor of Financial Express, Indian Management and Business World. He started his career with the Financial Express as a reporter/sub-editor in 1976 in Mumbai. His recent focus has been on digital commentary and journalism while being associated with and He was awarded the Shriram Sanlam Lifetime Achievement Award in 2016.
The Hindu
11 hours ago
- The Hindu
Karnataka commercial vehicle operators demand inclusion in FASTag annual toll scheme
A newly announced toll concession for private vehicle users has sparked discontent among commercial transport operators in Karnataka, who argue that they too deserve similar benefits given their heavy use of national highways. The Ministry of Road Transport and Highways (MoRTH) recently unveiled an annual FASTag pass scheme for non-commercial vehicles at a fixed cost of ₹3,000, aiming to streamline toll payments and promote digital transactions. The scheme, set to take effect on August 15, 2025, promises significant savings for private motorists but has left the commercial vehicle sector feeling sidelined. While transport unions representing commercial vehicle operators such as cabs, taxis, buses, trucks, goods carriers, and maxi cabs have raised strong objections to their exclusion. These operators argue that they traverse highways far more frequently and incur far higher toll expenses annually, making them deserving of concessional toll packages. 'Private vehicles don't frequently use national highways. They typically hit highways only during long-distance travel. In contrast, commercial vehicles whether it's a long-haul lorry, intercity cab, or a tourist bus cover hundreds of kilometres every single day. They cross numerous toll plazas across multiple states. If toll relief is really the intention, then commercial vehicles should be the first to benefit,' Radhakrishna Holla, president of the Karnataka State Travel Operators Association (KSTOA) told The Hindu. According to Mr. Holla, the KSTOA has written a formal request to Union Minister Nitin Gadkari urging that the annual FASTag scheme be extended to commercial vehicles as well. 'Taxi drivers and public transport providers are among the most frequent users of highways. Even a single cab operator ends up paying more than ₹30,000 annually in tolls. A package like this could significantly reduce their burden, especially when fuel and maintenance costs are already skyrocketing,' he added. Nataraj Sharma, president of the Federation of Karnataka State Private Transport Associations, described the toll expenses for commercial vehicles as 'exorbitant and unsustainable.' Speaking to The Hindu, Mr. Sharma said, 'We end up shelling out thousands of rupees every year, just on tolls alone. For fleet owners with dozens of vehicles, this cost is multiplied several times over. It's only fair that the government offers similar annual pass options for commercial vehicle operators. These businesses form the backbone of logistics, public transport, and urban mobility. Without support, many small-scale operators will find it difficult to stay afloat.' Union Minister for Road Transport and Highways Nitin Gadkari announced on June 18 that users of private vehicles will soon be able to make up to 200 highway trips in a year by paying just ₹3,000 in toll fees. 'For a long time, there were concerns over toll fee. This decision will provide a big relief to the public. The average toll fee will come down to ₹15 from ₹50 to ₹100,' Mr. Gadkari said in a video message posted on X. According to him, the new pass available exclusively to private four-wheelers like cars, jeeps, and vans will slash toll costs. The toll fees for 200 trips, which was ₹10,000 currently, would be brought down to ₹3,000 after the annual pass is rolled out, resulting in a huge savings for the public, he said. The government has amended Rule 9 under the National Highways Fee (Determination of Rates and Collection) Rules, 2008, to implement the annual pass system. A dedicated portal for purchasing and renewing the pass will be made available on the Rajmarg Yatra app as well as through the websites of the National Highways Authority of India (NHAI) and MoRTH.
