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Business Standard
25-06-2025
- Politics
- Business Standard
EC to review voters' lists in six states to weed out illegal immigrants
As part of the intensive review, poll officials will carry out house-to-house verification to ensure an error-free voters' list, starting immediately with Bihar Aman Sahu New Delhi The Election Commission of India (ECI) is set to carry out an intensive review of electoral rolls — that is, the voters' list — this year in six states, beginning with Bihar, to eliminate illegal foreign migrants by checking their place of birth, according to a report from news agency PTI. Assembly elections are scheduled in Bihar later this year, and in five other states — Assam, Kerala, Puducherry, Tamil Nadu, and West Bengal — in early 2026. The move follows crackdowns in various states on illegal immigrants into India, including those from Bangladesh and Myanmar. Eventually, the poll authority will begin special intensive revision across the country 'for the discharge of its constitutional mandate to protect the integrity of the electoral rolls'. In view of the Assembly elections in Bihar, the ECI has decided to conduct its special intensive revision in the state immediately. The last such exercise for the state was conducted in 2003. The terms of the legislative Assemblies of Assam, Kerala, Puducherry, Tamil Nadu, and West Bengal end in May–June next year, and a comprehensive review of the electoral rolls in these states will commence by the end of this year, ECI officials told PTI. Amid allegations by opposition parties that the election body has manipulated voter data to help the BJP, the poll panel has taken additional steps during the revision process to ensure illegal immigrants are not enrolled in the voters' list at any stage. An additional 'declaration form' has been introduced for a category of applicants seeking to become electors or shifting from outside the state. They will have to prove that they were born in India before 1 July 1987, and provide documents establishing date of birth and/or place of birth. One of the options listed in the declaration form is for those born in India between 1 July 1987 and 2 December 2004. They will also have to submit documents verifying the date/place of birth of their parents. The ECI said multiple reasons — such as rapid urbanisation, frequent migration, young citizens becoming eligible to vote, non-reporting of deaths, and inclusion of names of foreign illegal immigrants — have necessitated the revision to ensure integrity and preparation of error-free electoral rolls. While conducting the revision, the EC will scrupulously adhere to the constitutional and legal provisions regarding eligibility to be registered as a voter as well as for disqualifications for registration in an electoral roll, which are clearly laid down in Article 326 of the Constitution and Section 16 of the Representation of the People Act, 1950, respectively, the poll authority said.
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Business Standard
24-06-2025
- Automotive
- Business Standard
Tata Motors says no 'panic button' pressed yet on rare-earth magnet curbs
Tata Motors says production remains unaffected by China's rare-earth export curbs; JLR to raise prices to manage US tariffs as alternate sources and technologies are explored Aman Sahu New Delhi Tata Motors said on Tuesday that export restrictions on rare-earth magnets imposed by China have not yet disrupted its production pipeline, and the company is actively exploring alternate sources and technologies. 'Currently, I think there's no panic because we believe the supplies are coming through. There's no production curtailment. Nothing is being planned at this point in time,' said PB Balaji, Chief Financial Officer (CFO) of Tata Motors, during an event held in Mumbai. China's export curbs spark global industry concern China, which controls approximately 90 per cent of global rare-earth mineral production, announced new export restrictions in April amid heightened trade tensions with the United States. The move caused supply-chain disruptions in multiple sectors, including automotive, aerospace, semiconductors, and defence. Other automakers also impacted, though some deny effect Earlier this month, Reuters reported that Maruti Suzuki had reduced production of its electric e-Vitara by two-thirds due to rare-earth shortages. However, the company later issued a clarification denying any disruption, stating that it is exploring multiple supply solutions to maintain operational continuity. JLR to raise prices amid US tariff pressure Balaji also addressed the impact of new US tariffs on Tata Motors' luxury subsidiary Jaguar Land Rover (JLR), stating that price hikes would be introduced 'in a calibrated manner'. Last week, JLR revised its FY26 earnings before interest and taxes (EBIT) margin guidance from 10 per cent to a reduced range of 5–7 per cent, citing global uncertainty and tariff-related challenges. Despite the pressure from new import duties, Tata Motors has no immediate plans to establish a manufacturing facility in the United States, Balaji confirmed.
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Business Standard
18-06-2025
- Politics
- Business Standard
Türkiye extends support to Iran; Erdogan says Netanyahu surpassed Hitler
Türkiye President Recep Tayyip Erdogan said the images from World War II seem innocent compared to those coming out of Gaza Aman Sahu New Delhi
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Business Standard
06-06-2025
- Business
- Business Standard
Hudco board approves ₹750 crore fundraise via non-convertible debentures
The base issue size is ₹500 crore, with an additional green-shoe option of ₹250 crore The bonds are proposed to be listed on the BSE and will be redeemable at face value after three years. Interest will be paid annually Aman Sahu New Delhi The board of Housing & Urban Development Corporation Ltd (Hudco) on Friday approved raising ₹750 crore through non-convertible debentures (NCDs) at a coupon rate of 6.52 per cent. The unsecured, taxable, redeemable, non-convertible, non-cumulative debentures will be issued on a private placement basis to a select group of investors. Each debenture will have a face value of ₹1,00,000, the company said in a regulatory filing. The base issue size is ₹500 crore, with a green-shoe option of an additional ₹250 crore. The bonds are proposed to be listed on the BSE and will be redeemable at face value after three years. Interest will be paid annually. Debt market momentum According to a Business Standard report, Hudco is among several Indian companies that have tapped into the domestic debt capital market this week, collectively raising over ₹12,000 crore. The moves come amid expectations of a 25-basis-point (bps) repo rate cut by the Reserve Bank of India (RBI). However, the RBI surprised markets on Friday with a 50-bps cut, bringing the repo rate down to 5.5 per cent from 6 per cent—a development that could further accelerate debt fundraising. Hudco's financial performance Hudco, a public sector enterprise providing financing for housing and infrastructure projects, was granted Navratna status in April 2024. The company reported a 3.93 per cent year-on-year rise in net profit to ₹727.74 crore for Q4 FY25. Revenue for the quarter surged 37 per cent y-o-y to ₹2,760 crore. For the full fiscal year, net profit rose to ₹2,709.14 crore, up from ₹2,116.74 crore in FY24. Hudco shares closed 1.78 per cent lower at ₹246.20 apiece on the BSE on Friday.
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Business Standard
28-05-2025
- Business
- Business Standard
Power demand to increase by 6-6.5% over next five years, says ICRA
ICRA attributes the growth in demand to greater adoption of electric vehicles and green hydrogen segments, and the expansion of power-hungry data centres Aman Sahu New Delhi India's energy demand is expected to grow in the range of 6–6.5 per cent over the next five years, ratings agency ICRA said on Wednesday. ICRA said that the growth in demand is attributable to the growing adoption of electric vehicles and green hydrogen segments, as well as the expansion of data centres, which require sizeable amounts of electricity to power their servers. "Over the next five years, ICRA expects the electricity demand to achieve a CAGR (compound annual growth rate) of 6–6.5 per cent, driven by the demand from rising adoption of electric vehicles (EVs), green hydrogen (GH), and the increase in data centre capacity," said Vikram V, vice president & co-group head (corporate ratings) at ICRA, in a webinar. These three segments are expected to contribute to 20–25 per cent of the incremental demand over the next five-year period from FY26 to FY30, he said. Vikram said that the demand for grid capacity is expected to slightly reduce due to more people using rooftop solar panels and off-grid projects, as the government is promoting clean energy generation schemes such as the PM Surya Ghar Yojana. The generation capacity expansion is projected to reach an all-time high of 44 GW in FY26, beating the record of 34 GW in FY25, with the overall installed power generation capacity reaching close to 520 GW by March 2026. On the other hand, as Business Standard reported on May 27, due to the early onset of monsoon in India, the power demand in the country this year has not taken off as expected, leading to excess stock with coal production companies in the week. The national grid has not seen aggregate demand soar beyond 220 GW even on the worst of days so far this summer. The softer demand for power has also kept the price of coal imports low. Even as India is pushing for renewable energy, ICRA, however, maintains a stable outlook for the thermal power segment.
