Indian woman-led tech start-up secures $200 mn

Hubble finds new planet forming in intense, violent way

Washington, April 6 (IANS) NASA and European Space Agency’s Hubble Space Telescope has captured images of a Jupiter-like protoplanet forming through what researchers describe as an “intense and violent process”. This discovery supports a long-debated theory for how planets like Jupiter form, called “disk instability”, the researchers said. The new planet under construction is embedded in a protoplanetary disk of dust and gas with distinct spiral structure swirling around surrounding a young star that’s estimated to be around 2 million years old -- the age at when planet formation was underway in our solar system. Our solar system’s age is currently 4.6 billion years. “Nature is clever; it can produce planets in a range of different ways,” said lead researcher Thayne Currie from the Subaru Telescope and Eureka Scientific. The newly forming planet, called AB Aurigae b, is probably about nine times more massive than Jupiter and orbits its host star at a whopping distance of 8.6 billion miles - over two times farther than Pluto is from our Sun. At that distance it would take a very long time, if ever, for a Jupiter-sized planet to form. This leads researchers to conclude that the disk instability has enabled this planet to form at such a great distance. And, it is in a striking contrast to expectations of planet formation by the widely accepted core accretion model. All planets are made from material that originated in a circumstellar disk. The dominant theory for jovian planet formation is called “core accretion”, a bottom-up approach where planets embedded in the disk grow from small objects - with sizes ranging from dust grains to boulders - colliding and sticking together as they orbit a star. The new analysis, published in the journal Nature Astronomy, combines data from two Hubble instruments: the Space Telescope Imaging Spectrograph and the Near Infrared Camera and Multi-Object Spectrograph. These data were compared to those from a state-of-the-art planet imaging instrument called SCExAO on Japan’s 8.2-metre Subaru Telescope located at the summit of Mauna Kea, Hawaii. Understanding the early days of the formation of Jupiter-like planets provides astronomers with more context into the history of our own solar system. This discovery paves the way for future studies of the chemical make-up of protoplanetary disks like AB Aurigae, including with NASA’s James Webb Space Telescope.

Elevation Capital launches new $670 mn fund for early-stage startups in India

New Delhi, April 8 (IANS) Leading venture capital firm Elevation Capital on Friday announced its eighth $670 million fund for early-stage startups in India and to help their founders realise their dreams. Over the past two decades, the company has invested almost $2 billion of capital in over 150 companies across seven funds, with 13 early-stage investments becoming unicorns. These include category leaders such as Acko, FirstCry, Makemytrip, Meesho, NoBroker, Paytm, Sharechat, Spinny, Swiggy, Unacademy, Urban Company, Xpressbees and several others. With the $670 million Fund VIII, the VC said in a statement that it will once again focus on the seed/Series A stage as its core. According to the company, its investment pace has been accelerating and went up by 100 per cent in the past 12 months. The firm has to date invested in over 150 companies across consumer internet, SaaS, fintech, consumer brands, edtech, healthtech and Web3/Crypto, and has offices in Bengaluru, Gurugram and Salt Lake City in the US. “Fund VIII will allow us to demonstrate a greater commitment to exceptional founders with a larger initial investment and continued support to them until much later in their journeys,” said the VC. Elevation (earlier SAIF Partners) first started investing in India 20 years ago. India’s equity market capitalisation is already the fifth-highest in the world, at $3.2 trillion, and is expected to approach $10 trillion over the next 10 years. “We have just scratched the surface of India’s tech potential. The 100 unicorns in India alone have a combined valuation of $240 billion. We believe that this will grow over 10x over the next decade and Indian tech companies will have more than $2 trillion of market cap,” said the company. The firm is led by co-managing partners Ravi Adusumalli and Mukul Arora, along with three managing directors Mridul Arora, Deepak Gaur and Mayank Khanduja.

Indian woman-led deep tech startup Instoried secures $200 mn

Bengaluru, April 7: Deep tech platform Instoried on Thursday said it has secured $200 mn commitment from global investment group GEM Global Yield, and will use the funds to expand operations globally and develop artificial intelligence (AI)-based content generation tools. Led by a woman founder, Sharmin Ali, Instoried uses AI to help people write original and more lively content, make messaging crisper, improve headline impact, improve empathy and tone. Utilising 30 million data points, the platform’s proprietary algorithm powers a top-notch collaborative content creation tool that provides instant feedback in real-time. “Instoried helps people convey the proper tonality in everything they write from email to blogs, from marketing copy and advertising to long-form articles,” said Sharmin Ali, also the CEO of Instoried. The platform will further invest in its technology to add a Google Chrome extension, a WordPress plug-in and other elements to its product portfolio. Under the agreement, GEM will provide a share subscription facility of up to $200 million, to be drawn at the option of the company, for a 36-month term following a public listing. Instoried aims to go public via SPAC (special purpose acquisition company) or the traditional IPO route. Additionally, the platform has plans to grow its executive team and presence globally. For the India market, Instoried will focus on hiring for leadership and technology roles, develop the tech stack to launch their own content generation tool and invest in marketing in India and Asia markets. GEM is a $3.4 billion, alternative investment group with offices in Paris, New York and the Bahamas.

‘Beginning of many beginnings’: Private mission Ax-1 lifts off to space station

Washington, April 8 (IANS)

American company Axiom Space has launched the world’s first private mission to the International Space Station (ISS) on Friday. The 4-member crew lifted off on SpaceX’s Crew Dragon spacecraft atop a Falcon 9 rocket at 11.17 a.m. EDT (8.47 pm IST) from Launch Complex 39A at NASA’s Kennedy Space Center in Florida, the company said. The Ax-1 crew members includes Commander Michael Lopez-Alegria of Spain and the US, Pilot Larry Connor of the US, and Mission Specialists Eytan Stibbe of Israel, and Mark Pathy of Canada. “This is a very special moment for us. The launch of Ax-1 is a beginning of many beginnings. Ax-1’s launch to ISS is part of our journey to build a first private commercial space station,” Kamal Ghaffarian, Executive Chairman, Axiom Space during the launch. “We will usher in a new era in private human spaceflight when they cross the threshold to enter the ISS,” added Michael Suffredini, President and CEO of Axiom Space. He thanked SpaceX, the astronauts and Axiom team for “long hours of training, planning, and dedication”. Suffredini also thanked NASA for its “vision to develop a sustainable presence in low-Earth orbit”. “This takes commerce to a whole new level. Axiom_Space’s #Ax1 mission is on its way to the Space Station in SpaceX’s Dragon Endeavoura”a key step in our ongoing work to open opportunities for space travellers in low-Earth orbit,” NASA said in a tweet. During their 10-day mission, the crew will spend eight days on the ISS conducting scientific research, outreach, and commercial activities. The crew has shared that they are bringing over 25 different scientific experiments to work on during their eight-day station stay. NASA and ESA (European Space Agency) astronauts and Roscosmos cosmonauts already aboard the space station will welcome the Ax-1 crew after docking. Founded in 2016, Axiom has the ultimate goal of building private space stations Axiom Station, in lowEarth orbit that can serve as a global academic and commercial hub. “What a historic launch! Thank you to the dedicated teams at NASA who have worked tirelessly to make this mission a reality,” said Administrator Bill Nelson. “NASA’s partnership with industry through the commercial cargo and crew programs has led our nation to this new era in human spaceflight a” one with limitless potential. Congratulations to Axiom, SpaceX, and the Axiom-1 crew for making this first private mission to the International Space Station a reality,” he added.

Panasonic unveils its flagship mirrorless camera in India

New Delhi, April 7 (IANS) Consumer durable major Panasonic India on Thursday launched its flagship mirrorless camera -- LUMIX GH6 - in India for Rs 2,34,990. The company said that LUMIX GH6 offers outstanding mobility and high video performance, making it a perfect partner for the content creator community worldwide. It is available across all Panasonic brand shops in India. “In the growing needs of video streaming, content creators are more keen on the quality and uniqueness of the video contents they provide. To cater to these needs, we have developed LUMIX GH6 with advanced image processing technology to empower content creators with stunning mobility and innovative video performance,” Fumiyasu Fujimori, Managing Director, Panasonic Marketing India (PMIN), said in a statement. “The GH6 additionally introduces new codecs directly to internal camera recording and we hope this feature will be appreciated by creators. I believe LUMIX GH6 can be widely used for various purposes including films, music videos, documentaries and short clips as photo and video hybrid camera,” it added. The body of the LUMIX GH6 is built with magnesium alloy and is a perfect amalgamation of performance, mobility, and rugged design, the company said. The new 25.2MP Live MOS Sensor boasts a high-resolution, high-speed signal readout, and a wide dynamic range running on the Venus Engine that allows faster rendering of high-resolution images with natural noise texture and rich color reproduction, which is a hallmark of LUMIX cameras. The 2D and 3D Noise Reduction features enhance the visual quality of the video with dynamic motion and advanced capabilities that exceed professional standards. The autofocus performance of the LUMIX GH6 has been enhanced by utilizing the new sensor and image-processing engine.

Google ‘multisearch’ tool to help users search with photos

IANS

New Delhi, April 8 (IANS) Google has introduced multi-search on its platform that allows people to use text and images at the same time to find the most relevant results. Currently available as a beta feature in English in the US, multisearch allows people to search with both images and text at the same time, to help them with their visual needs, including style and home decor questions. “With multisearch, you can ask a question about an object in front of you or refine your search by colour, brand or a visual attribute,” Google said in a statement late on Thursday. To get started, simply open up the Google app on Android or iOS, tap the Lens camera icon and either search one of your screenshots or snap a photo of the world around you, like the stylish wallpaper pattern at your local coffee shop. Then, swipe up and tap the “+ Add to your search” button to add text. You can take a screenshot of the orange dress and add the query “green” to find it in another colour. You can also snap a photo of your dining set and add the query “coffee table” to find a matching table. “All this is made possible by our latest advancements in Artificial Intelligence, which is making it easier to understand the world around you in more natural and intuitive ways,” said Google. “We’re also exploring ways in which this feature might be enhanced by MUM -- our latest AI model in Search -- to improve results for all the questions you could imagine asking,” the company added.

IPL 2022: It was good fun, says Pat Cummins on whirlwind 14-ball half-century

Pune, April 7 (IANS) From out of nowhere, Pat Cummins turned out to be the chief architect of Kolkata Knight Riders stunning Mumbai Indians by five wickets with a whirlwind 14-ball half-century, equalling the record for fastest fifty in the history of the tournament. In his 15 balls, Cummins scored 56 runs with the help of four fours and six sixes at a jaw-dropping strikerate of 373.33 on a pitch at MCA Pune where a majority of the batters in the match were asked tough questions. But Cummins batted like a man possessed and took Kolkata home in a chase which looked tricky when he walked in. Asked by his Kolkata team-mate Venkatesh Iyer in a video posted by the IPL website on Thursday, Cummins tried to recall how his blistering knock happened. “I don’t know (on how his knock happened). I think you guys did the hard work upfront, so for when I come in, I was trying to hit big sixes, trying to think really clearly: If it’s in my area, I am going to go for it, if it’s not in my area, I’ll just try and take a single. Batting at the end of the game, it’s not swinging, it’s not seaming so it’s a bit easier for me. It was good fun.” When Cummins was smashing boundaries off Tymal Mills, Jasprit Bumrah and Daniel Sams (taken to cleaners for 35 runs in the 16th over), Iyer had the best seat in the house to witness the carnage, holding one end for an unbeaten 41-ball 50. “Felt really good. Honestly, barring you, everyone felt the wicket was a little bit tricky to bat on but that was some unbelievable display of hitting from you. So it was important for me to stay there till the end and play that anchor role,” stated Iyer. Till the match against Mumbai, Iyer struggled to get going. But he took his time against Mumbai to reach his first fifty of the IPL 2022 season. “Obviously, I didn’t have the best of starts with the bat. I wasn’t hitting the ball with the middle of the bat. But those are the days. I spoke to myself about staying there till the end. You need a batter from the topfour to stay there till the end when chasing a decent total in front of the bowling attack like that. So that was my plan.” This was Cummins’ first IPL 2022 match after missing the first three games due to tour of Pakistan, where he featured in the Test leg before being rested for the whiteball fixtures. “Had about five to six days off then I flew over here, three days quarantine and then had two days leading into this game which was really good.” “Like, the more I bowl, the better I feel like I bowl. Coming off Test cricket means that I don’t have to upskill too quickly. So it’s been good preparation, the body feels great, (I’m) just itching to get out there,” explained the Australia Test skipper. Cummins signed off by saying that he will take really good care of the bat which fetched his a 14-ball fifty against Mumbai. “I’ll hang on to it. Yeah, I’ll look after that one.” Now on top of the points table with six points, Kolkata will meet Delhi Capitals on Sunday at Brabourne

12 teams confirmed to get automatic qualification for ICC Men’s T20 World Cup 2024

Dubai, April 11 (IANS) The International Cricket Council Board has announced the qualification route to both the Men’s and Women’s T20 World Cup in 2024, with 12 teams confirmed to get automatic qualification in the men’s tournament, to be co-hosted by the West Indies and the United States. The ICC also confirmed South Africa as the host of the inaugural ICC U-19 Women’s T20 World Cup 2023. The top eight teams from the 2022 T20 World Cup in Australia along with hosts West Indies and the US, and the next highest-ranked teams on the ICC Men’s T20 rankings table as on November 14, 2022 will get automatic qualification for the 2024 men’s tournament. If the West Indies finish among the top eight in Australia later this year, three teams will progress based on rankings. If the Caribbean side finishes outside the top eight, only two teams will qualify from the rankings table. Since the tournament will feature 20 teams, the remaining eight spots will be decided through a regional qualification process. Africa, Asia and Europe each will have two spots open, while the Americas and East Asia Pacific (EAP) will have one each. For the Women’s T20 World Cup 2024, eight countries will book berths to the showpiece event automatically, including the top three teams from each group of the 2023 event besides the host (if not in the six) and the next highest-ranked team(s) on the ICC Women’s T20 rankings table at a pre-determined date. The remaining two teams will be determined through the Women’s T20 World Cup global qualifier. The eight-team ICC Women’s Cricket World Cup in 2025 will see the five highest-placed teams at the end of the 2022-25 ICC Women’s Championship (IWC) qualify automatically alongside the host which is yet to be confirmed. The remaining two teams will be identified through a global qualifying event between the four bottom-placed teams in the IWC, besides an additional two teams from the ODI rankings. The inaugural ICC U-19 Women’s T20 World Cup 2023 will be staged in January next year as a 16-team event. The 41-match event will be hosted by South Africa, who were also the inaugural hosts of the Men’s T20 World Cup in 2007.

Social media goes crazy after Tewatia’s match-winning consecutive sixes

Mumbai, April 9 (IANS) The social media has gone berserk praising Rahul Tewatia’s consecutive sixes off the last two balls of the match as Gujarat Titans (GT) defeated Punjab Kings (PBKS) by six wickets in an IPL thriller at the Brabourne Stadium on Friday. Tewatia struck the sixes off Odean Smith to snatch victory from the jaws of defeat. From 21 off nine deliveries to 18 off the last five, Tewatia and David Miller brought it down to 13 off three balls when Miller scrambled for a single, leaving Tewatia the unenviable task of hitting two sixes off the last two deliveries of the match and win it for Gujarat Titans, who successfully chased a target of 190. The 28-year-old first carted Smith over deep mid-wicket with the fielder nearly catching him before falling over the rope. He then played a slog-sweep over the long-on boundary to seal a memorable victory for Gujarat Titans. Former India cricketer Virender Sehwag said Punjab Kings should have Tewatia’s statue in their dugout. “Waah Lord Tewatia,... Need his statue in Punjab Kings dugout. What a brain fade by (Odean) Smith to concede an overthrow with 13 needed of 2. #PBKSvGT,” tweeted Sehwag. Former England captain Michael Vaughan was ecstatic with Tewatia’s knock, tweeting, “No tournament gets close to the drama & finishes the #IPL brings... That was ridiculous... #Tewatia.” Gujarat Titans skipper Hardik Pandya’s brother, Kruna, who plays for Lucknow Super Giants (LSG), tweeted, “Tewatia, you beauty. What a finish! What a knock, well played Shubhi (Shubman Gill). Wonderful match! @rahultewatia02, @ShubmanGill.” Former India cricketer Mohammad Kaif wrote, “Forget Titans, if Tewatia was on Titanic even that wouldn’t have sunk. #GTvsPBKS.” Former India spinner Amit Mishra tweeted, “Gujarat Titans are yet to be defeated this season. If they continue the same form, we might see other coaches also giving up laptop and picking up pen and paper like (Ashish) Nehra ji (Gujarat Titans head coach).” Former India pace bowler Venkatesh Prasad wrote, “12 needed to win off 2 balls and 2 sixes in 2 balls. Rahul Tewatia... Remember the name...”

Korea Open: India’s campaign ends with Sindhu, Srikanth’s loss in semifinal

Suncheon (South Korea), April 9 (IANS) India’s campaign at the Korea Open Badminton Championships 2022 came to an end on Saturday after the country’s top shuttlers -- PV Sindhu and Kidambi Srikanth -- lost their respective semifinal matches at the Palma Stadium, here. Sindhu lost her women’s singles last-four match 14-21, 17-21 against the world No. 4 An Seyoung in 48 minutes. Heading into the fixture, Sindhu, a former world champion had failed to beat the 20-year-old South Korean in any of their three previous meetings. The last time the two played each other, An Seyoung had denied the Indian ace the BWF World Tour Finals 2021 title. Sindhu tried to start the match aggressively but some astonishing retrievals from An Seyoung frustrated her as the South Korean raced to a 7-1 lead. The Indian shuttler managed to offset the early blows with a series of good points of her own but it was An Seyoung with an 11-6 lead heading into the first mid-game interval of the match. Despite Sindhu’s best efforts, An Seyoung controlled the flow of the match and won the first game 21-14. Looking for a sharp response, Sindhu took a 3-0 lead in the second game but it was not long before An Seyoung responded and it was the South Korean again who led by two points at the break. An Seyoung’s court coverage was exquisite and her range of shorts continued to baffle the Indian star as the match progressed. Trailing 14-9, Sindhu upped the ante and managed to bring down the deficit to just a single point with the help of some brilliant cross-court winners. However, it wasn’t quite enough to topple the in-form South Korean who wrapped up the match. Meanwhile, Kidambi Srikanth also lost his men’s singles semis against Indonesian second-seed Jonatan Christie by a 19-21, 16-21 scoreline. Srikanth, seeded fifth, started the match well and led for most of the first game but the world No. 8 Cristie flipped the script right at the end to take the lead. The second game was a tight affair in the initial stages but from a 14-all scoreline, Christie stepped up to take control and ended the match in 49 minutes. Srikanth’s loss brought India’s campaign at the Korea Open to an end.

Kuldeep Sen - Rajasthan Royals’ new pace sensation!

Mumbai, April 11 (IANS) Madhya Pradesh’s right-arm pacer Kuldeep Sen on Sunday made his debut for the Rajasthan Royals in the IPL 2022 match against Lucknow Super Giants at the Wankhede Stadium here. The fast bowler from Rewa, around 450 kms from the state capital Bhopal near the Utar Pradesh border, impressed everyone with his good pace. He cleaned up Deepak Hooda for 25 in his second over. The 25-year-old bowler later successfully defended 15 off the last over to help his team register a win in a close contest. He conceded just 11 off the last six balls to finish with figures of 1 for 35. For the records, RR management picked up the right-arm fast bowler for a price tag of Rs 20 Lakh during the IPL 2022 mega auction. He made his T20 debut against Mumbai in 2019 and has the experience of playing for the domestic Madhya Pradesh state cricket team. As per initial reports, his father Rampal Sen runs a small salon in the city. In 16 first-class matches, Kuldeep has bagged 44 wickets, while he has four List A scalps in his kitty.

From being a nets bowler to making an impact for RCB, Akash Deep’s journey into the big league

Pune, April 11 (IANS) Royal Challengers Bangalore’s (RCB) pace bowler Akash Deep was so enamoured with the franchise since his childhood days that he always dreamt of playing for them during his growing years. And when the opportunity finally came his way, the 25-year-old knew that he had to gain as much experience as possible despite the limited exposure and make an impact. He started out as an intern, bowling at the RCB nets during IPL 2021. But cut to 2022, the young pacer has shown he has plenty in the kitty to hang around with the big boys on the big stage. Growing from strength to strength in the last four games of the 2022 season, Akash was instrumental in restricting Mumbai Indians to 151/6 at the Maharashtra Cricket Association Stadium on April 9, helping his side win the crunch contest by seven wickets. Not only did he bowl one of the most economical spells on that day -- Akash conceded just 20 runs in his four overs, which also included a maiden -- but also took the prized wicket of Ishan Kishan when the MI opener looked well set on 26. Speaking about his experiences with the Bengaluru franchise, who bought him back during the Mega Auction this year, Akash said, “I have liked RCB since my childhood and ever since I’ve known cricket. I used to like RCB a lot because of Virat sir (Virat Kohli) and AB sir (AB de Villiers). I would never miss out on an RCB game even if I missed any other game. I would not watch any other team’s games, but I would watch this team’s right from my childhood. So, even joining up with this team for me was a big deal.” “During the first 2-3 months after joining up with RCB, I got to learn a lot. When I went back home from here, I realised that the confidence I had gained through this experience helped me a lot in domestic cricket,” he added. Playing for Bengal at the domestic level, Akash has superb first-class figures of 45 wickets in 11 matches, with an economy rate of 3.16. However, things didn’t go smoothly for the bowler during the 2021 season as he had to leave the RCB nets mid-season. “Whenever I come to this ground (Bandra Kurla Complex), it reminds me of the experience. When I was at practice, I got a call from home that my elder aunt was in quite a serious condition, as were my sister-in-law and my mother. They were at the hospital and my mother was home. I went back to the hotel and was hoping to hear that the situation had gotten better. I kept delaying going back for 4-5 days. “But after five days, I got the news that my elder aunt had passed away, and then my sister-in-law did too. My mother was in quite a critical condition too. I felt that I had to go back because family is very important, and the situation was also very tough,” said the Bengal pacer. “After going home, I took care of my mother’s medicines, getting her injections. The hospital at our place did not have anything -- there were no doctors, no medicines. But, going back helped because even the RCB management had spoken to the people back home, to help arrange for oxygen cylinders; I administered the injections myself. Thankfully, my mother is alright now,” he told RCB Bold Diaries. Things took a positive turn for Akash, who was drafted into the squad for the second half of the 2021 season in place of the injured Washington Sundar. There has been no looking back since then as he was bought back by RCB in the 2022 auction, and has played every game of the IPL 2022 season thus far.

Strong dollar dents India’s foreign reserves, forex down by over $11 bn

Mumbai, April 9 (IANS) Global currency fluctuations, due to a rise in US dollar strength, depleted India’s foreign reserve by over $11.173 billion during the week that ended on April 1. The foreign currency assets (FCAs), the largest component of the forex reserves, got negatively impacted due to the rising US dollar strength against other global currencies. The FCAs consist of global currencies and securities such as US treasury bonds. As per the RBI data, the FCAs edged lower by $10.727 billion to $539.727 billion. India’s overall forex reserves, thus, fell by $11.173 billion to $606.475 billion from $617.648 billion reported for the previous week

The country’s forex reserves consist of FCAs, gold reserves, SDRs, and the country’s reserve position with the IMF. The value of the gold reserves also decreased by $507 million to $42.734 billion. While SDR value gained by $58 million to $18.879 billion, India’s reserve position with the IMF also gained by $4 million to $5.136 billion.

FY22 tax collection exceeds budgetary estimate, rises to over Rs 27 lakh cr

New Delhi, April 8 (IANS) Accelerated economic recovery along with enhanced compliance pushed India’s FY22 tax collection to Rs 27.07 lakh crore, almost Rs 5 lakh crore above the Union budget’s estimate of Rs 22.17 lakh crore. Accordingly, the current tax collection grew by 34 per cent over last year’s revenue collection of Rs 20.27 lakh crore, led by a growth of 49 per cent in direct taxes and supported by a 20 per cent growth in indirect taxes. “This revenue growth has been propelled by rapid economic recovery after successive waves of Covid, supported by one of the largest immunisation programme of the world run by the government,” the Ministry of Finance said. “It also signifies a robust recovery in the economy. This was also supplemented with better compliance efforts in taxation. Various efforts were taken by tax administration on direct as well indirect taxes to nudge higher compliance through use of technology and artificial intelligence.” Besides, FY22 marked the highest tax-GDP ratio of 11.7 per cent, with direct tax to GDP ratio at 6.1 per cent and indirect tax to GDP ratio at 5.6 per cent. “The tax buoyancy (which is a measure of growth in tax revenues as compared to GDP growth) is at a very healthy figure of 1.9, with 2.8 for direct taxes and 1.1 for indirect taxes. The ratio of direct to indirect taxes recovered from 0.9 in 2020-21 back to 1.1 in 2021-22.” As per the ministry, the gross corporate taxes during 2021-22 was Rs 8.6 lakh crore against Rs 6.5 lakh crore last year, which shows that the new simplified tax regime with low rates and no exemptions has lived up to its promise. Furthermore, the ministry said that during the year, the income tax department gave refunds of Rs 2.24 lakh core. “During last two years, the effort has been to clear backlog of refunds to infuse liquidity into the hands of businesses.” “During the year, 2.4 crore refunds were issued that included 2.01 crore related to the year 2021-22, for which the returns were filed till 31st March 2021.” Additionally, this has been possible due to faster processing of returns. “During 2021-22, 22.4 per cent returns were processed on the same day and around 75 per cent returns were processed in less than a month Bengaluru, April 7: Racing towards its theatrical release this month, ‘KGF: Chapter 2’ is making waves in the metaverse as well. A record number of Non Fungible Tokens (NFTs) have been snapped up by collectors in what is being termed as the biggest NFT sale in India till date. The sale saw the first 500 NFTs getting sold in the first 10 minutes. KGF franchise makers Hombale Films have introduced a set of three NFTs - Bombay Rocky, Narachi Rocky and Toofan Rocky avatars. Hombale Films along with Lysto and Bookmyshow, on Thursday unveiled ‘KGFVerse’, a digital avatar-based universe in the metaverse, dedicated to the fans of the film. Excitement had been building since the initial announcement regarding the sale, and a huge number of prospective buyers were looking to get their hands on the especially rare Rocky Bhai NFT, which caused quite a stir. The sale received great response from the buyers, resulting in the first 500 NFTS being sold in first 10 minutes, which is an Indian record for any sale of NFTs in the country. As cinemas ready to welcome the much-awaited sequel on the big screen, fans get to own KGF franchise-themed digital collectibles, NFTs and membership in this innovative space created on the metaverse. The makers believe that the time is right for the production house to enter the lucrative NFT marketplace arena and the partnership with Lysto and Bookmyshow enables Hombale Films to take advantage of their marketing and technological infrastructure. With the endless possibilities of fan engagement and digital community building that the metaverse offers, this initiative follows a phased approach that has kickstarted with the launch of 10,000 ‘El-Dorado’ digital tokens that cinephiles can either buy using MATIC (Polygon) cryptocurrency, or win across the many contests which have gone live on the social media platforms of Hombale Films, Lysto and BookMyShow. The ‘El-Dorado’ digital tokens

time. The average processing time for returns during 2021-22 was 26 days. During the year, 7.14 crore returns were filed as compared to 6.97 crore last year.” According to the ministry, on the indirect tax front, GST saw “an exemplary growth during 2021-22 despite two waves of Covid-19 pandemic”. “CGST revenues increased from Rs 4.6 lakh crore last year to Rs 5.9 lakh crore in 2021-22. The average monthly gross GST revenue in 2021-22 was Rs 1.23 lakh crore as compared to Rs 94,734 in 2020-21 and Rs 1.01 lakh crore in 2019-20.” “This again signifies a robust rebound in the economy. This has been complemented due to various measures taken to improve compliance. This shows that the GST ecosystem has appreciated the invoice-based discipline in GST, which not only benefits GST revenues but also contributes to overall formalization in the economy.” Additionally, the ministry said that the level of economic recovery can also be seen from the value of e-way bills generated every month, which has improved from Rs 16.9 lakh crore in January 2021 to Rs 25.7 lakh crore in March 2022. In addition, during 2021-22, Customs duty has witnessed a growth rate of 48 per cent. “During the last two years, the government has undertaken comprehensive review and rationalisation of the Customs tariff structure through extensive consultations and crowd sourcing and has rationalised various exemptions and simplified the tariff structure.” “It is expected that the trend of recovery in the economy and tax revenues of the government will continue to grow.”

Meta planning ‘Zuck Bucks’ digital currency as crypto dream fails

San Francisco, April 7 (IANS) Meta is reportedly planning to launch a digital currency called ‘Zuck Bucks’ -- named after its Founder Mark Zuckerberg -- and virtual tokens, coins and other financial services, after its pet cryptocurrency project failed to take off. According to a report in The Financial Times citing sources, Facebook’s financial arm called ‘Meta Financial Technologies’ is exploring a virtual currency for metaverse, dubbed “Zuck Bucks”. “The company is seeking alternative revenue streams and new features that can attract and retain users, as popularity falls for its main social networking products such as Facebook and Instagram -- a trend that threatens its $118 bn-a-year adbased business model,” the report mentioned on Wednesday. “Zuck Bucks” will not be a cryptocurrency but more like in-app tokens that would be centrally controlled by the company, similar to those used in gaming apps like ‘Robux’ currency by popular kids’ gaming platform Roblox. Roblox has built a massive business selling ‘Robux’, and Meta could try to emulate some of that success on its own social networks. Meta is also planning to create “social tokens” or “reputation tokens”, which could be issued as rewards for meaningful contributions in Facebook groups. The company is also aiming to produce “creator coins” for influencers on its photo-sharing platform Instagram. “Insanely great. Please let this be real,” posted Twitter founder Jack Dorsey on Thursday on the Meta plans to create “Zuck Bucks”. Meanwhile, Meta is planning to launch a pilot for posting and sharing non-fungible tokens (NFTs) on Facebook next month. NFTs may be monetised via “fees and/or ads” in the future, according to the report. Facing regulatory hurdles, the cryptocurrency dream of Zuckerberg was officially over as the company in February announced it has sold its digital coin known as Diem for around $200 million to Silvergate, a crypto-focused bank. Originally launched as Libra and later renamed as the Diem Association, the cryptocurrency initiative faced regulatory backlash, and the US Federal Reserve was a key opponent to Diem launching. Facebook and 20 partner organisations formally joined the digital currency project during a meeting in Geneva in October 2019.

Global headwinds: RBI lowers FY23 GDP growth forecast to 7.2%

Mumbai, April 8 (IANS) Reserve Bank of India on Friday lowered India’s FY23 GDP growth projection to 7.2 per cent from an earlier estimation of 7.8 per cent. In a statement after the Monetary Policy Committee’s bi-monthly meet, RBI Governor Shaktikanta Das said the real GDP growth is projected at 16.2 per cent in Q1FY23, at 6.2 per cent in Q2; at 4.1 per cent in Q3 and Q4 at 4 per cent, assuming that crude oil (Indian basket) price is at $100 per barrel during 2022-23. “As the horizon was brightening up, escalating geopolitical tensions have cast a shadow on our economic outlook. Although India’s direct trade exposure to countries at the epicentre of the conflict is limited, the war could potentially impede the economic recovery through elevated commodity prices and global spillover channels,” he said. “Further, financial market volatility induced by monetary policy normalisation in advanced economies, renewed Covid-19 infections in some major countries with augmented supply-side disruptions and protracted shortages of critical inputs, such as semi- conductors and chips, pose downside risks to the outlook.” Besides, the governor said that going forward, robust Rabi output should support recovery in the rural demand, while a pick-up in contact-intensive services should help in further strengthening urban demand. “Investment activity may gain traction with improving business confidence, pick up in bank credit, continuing support from government capex and congenial financial conditions.” “’Capacity utilisation’ (CU) in the manufacturing sector recovered further to 72.4 per cent in Q3:202122 from 68.3 per cent in the previous quarter, surpassing the pre-pandemic level of 69.9 per cent in Q4:2019-20.” On Friday, the RBI’s Monetary Policy Committee (MPC) of the central bank maintained the repo rate, or short-term lending rate, for commercial banks, at 4 per cent. In addition, the growth-oriented accommodative stance was also retained.

Elevation Capital launches new $670 mn fund for early-stage startups in India

New Delhi, April 8 (IANS) Leading venture capital firm Elevation Capital on Friday announced its eighth $670 million fund for early-stage startups in India and to help their founders realise their dreams. Over the past two decades, the company has invested almost $2 billion of capital in over 150 companies across seven funds, with 13 early-stage investments becoming unicorns. These include category leaders such as Acko, FirstCry, Makemytrip, Meesho, NoBroker, Paytm, Sharechat, Spinny, Swiggy, Unacademy, Urban Company, Xpressbees and several others. With the $670 million Fund VIII, the VC said in a statement that it will once again focus on the seed/Series A stage as its core. According to the company, its investment pace has been accelerating and went up by 100 per cent in the past 12 months. The firm has to date invested in over 150 companies across consumer internet, SaaS, fintech, consumer brands, edtech, healthtech and Web3/Crypto, and has offices in Bengaluru, Gurugram and Salt Lake City in the US. “Fund VIII will allow us to demonstrate a greater commitment to exceptional founders with a larger initial investment and continued support to them until much later in their journeys,” said the VC. Elevation (earlier SAIF Partners) first started investing in India 20 years ago. India’s equity market capitalisation is already the fifth-highest in the world, at $3.2 trillion, and is expected to approach $10 trillion over the next 10 years. “We have just scratched the surface of India’s tech potential. The 100 unicorns in India alone have a combined valuation of $240 billion. We believe that this will grow over 10x over the next decade and Indian tech companies will have more than $2 trillion of market cap,” said the company. The firm is led by co-managing partners Ravi Adusumalli and Mukul Arora, along with three managing directors Mridul Arora, Deepak Gaur and Mayank Khanduja.

‘KGF’ sets foot in metaverse, fans snap up NFTs in record time

named after the mythical city made of gold, enables its owners to become members, granting them access to the gated collection of the KGFVerse and get first grabs on the future next-generation avatar drops, KGFverse land sale, special events including real-life meetups and interactions with the KGF team, amongst other exciting possibilities. Through various phases that will follow, fans will get a chance to experience many more exciting drops that will be released soon. Speaking on the KGFverse, Vijay Kiragandur, Founder of Hombale Films, said, “Metaverse is the new frontier of the Internet and an innovative way to engage with audiences and movie fans. Every artwork that one sees in KGF is a unique one and one, that cannot be seen in any previous films. This further propelled us in going big into the Metaverse. “We also want our fans to be part of this and experience it. The future of virtual hangouts and a new way of consuming content is upon us and we are excited to explore this space to enable our fans to interact with elements of both chapters of KGF in the metaverse.” Speaking further about the NFT market and their plans ahead, Chaluve Gowda, co-founder for Hombale Films said, “While Indian fans are getting their dose with international market in NFT and the artwork available online, the unconditional love that KGF has received and fans extend, offer an immense potential for us in ushering into this new world of Web 3.0. “We are witnessing this that any Indian fan is not just a spectator or silent admirer of art, they want to be active stakeholders and want to go out of their way to support their idols. We know what our fans want and the whole purpose is about giving power to the fans to make their favorite stars closer and more accessible. Our KGFverse is giving fans an opportunity to support their artist directly, flaunt their fandom and become a part of the larger community. “NFTs intrinsically capture the value that fandom has always had, this value is now a direct relationship and with ownership too. We are going to get bigger and better in this field, as the NFT market grows and it’s surely going to be the next big phenomenon for the entertainment and art industry.” Releasing nationwide on April 14, in Kannada, Telugu, Hindi, Tamil and Malayalam, ‘K.G.F: Chapter 2’ is written and directed by Prashanth Neel, and produced by Vijay Kiragandur, under the Hombale Films banner. One of the emerging pan-India production houses, Hombale Films is set to showcase some of the biggest films in Indian cinema over the next two years, including the much-awaited film ‘Salaar’ starring Prabhas. The film is being presented in north Indian markets by Ritesh Sidhwani and Farhan Akhtar’s Excel Entertainment and AA Films. Excel has given super hits like ‘Dil Chahata Hai’, ‘Zindagi Na Milegi Dobara’, ‘Dil Dhadakne Do’, and ‘Gully Boy’, among others.

Record High: India’s agri exports touch $50 bn

New Delhi, April 6 (IANS) India achieved a record high of agriculture exports in 2021-22, which crossed the $50 billion-mark, the Ministry of Commerce and Industry said on Wednesday. As per the provisional figures released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), agri exports grew by 19.92 per cent in 2021-22 to touch $50.21 billion. “The growth rate is remarkable as it is over and above the growth of 17.66 per cent at $41.87 billion achieved in 2020-21, and it has been achieved in spite of unprecedented logistical challenges in the form of high freight rates, container shortages etc.,” the Ministry said. “This achievement over the past two years will go a long way in realising the Prime Minister’s vision of improving farmers’ income,” it added. According to the Ministry, highest ever exports have been achieved for staples like rice ($9.65 billion), wheat ($2.19 billion), sugar ($4.6 billion) and other cereals ($1.08 billion). “Wheat has recorded an unprecedented growth of more than 273 per cent, jumping nearly four-fold from $568 million in 2020-21 to touch close to $2,119 million in 2021-22. “Increase in exports of these products has benefitted the farmers in states like Punjab, Haryana, Uttar Pradesh, Bihar, West Bengal, Chhattisgarh, Madhya Pradesh, Telangana, Andhra Pradesh, Maharashtra etc. India has captured nearly 50 per cent of the world market for rice,” the Ministry said. Besides, the data showed that export of marine products, at $7.71 billion, is also the highest ever, benefiting farmers in the coastal states of West Bengal, Andhra Pradesh, Odisha, Tamil Nadu, Kerala, Maharashtra and Gujarat. “Spices exports have touched $4 billion for the second year in a row. Despite facing tremendous supply side issues, coffee exports have crossed $1 billion for the first time, which has improved realisations for coffee growers in Karnataka, Kerala and Tamil Nadu,” it said. The ministry said that this achievement is the result of sustained efforts on the part of the Department of Commerce and its various export promotion agencies like APEDA, MPEDA and various commodity boards. “The Department has made special efforts to engage state governments and district administrations in promoting agricultural exports. In order to ensure that the farmers benefit from exports, the Department of Commerce has made special efforts to provide export market linkage directly to farmers and FPOs. “A ‘Farmer Connect Portal’ has been set up for providing a platform to the farmers, FPOs or FPCs, and cooperatives to interact with the exporters. This approach has resulted in agriculture exports taking place from hitherto unexplored areas,” the Ministry said. The statement also said that exports have taken place from clusters like Varanasi (fresh vegetables, mangoes), Ananthpur (banana), Nagpur (orange), Lucknow (mango), Theni (banana), Solapur (pomegranate), Krishna and Chittoor (mango), among others. “Initiatives like ‘Happy Banana’ train, an exclusive train with reefer containers to transport bananas from Anantapur to JNPT, Mumbai, have been taken to boost exports from unconventional areas,” it said. In addition, the Ministry said that the outbreak of the Covid-19 pandemic during the first quarter of 2020 resulted in increased demand for staples, which provided an opportunity for increasing agriculture exports. “Because of the institutional framework already in place at the state and district levels, and the special efforts made to overcome the pandemic-induced bottlenecks, India has been able to rise to the occasion and emerge as a reliable supplier of food. “Even during the current crisis triggered by the Russia–Ukraine war, the world is looking at India for supplies of wheat and other foodgrains,” the statement said.

Righteous GST implementation to bolster online skill gaming sector in India

‘Hope, I don’t get to hear this case again’: CJI on Amazon, Future Retail matter

New Delhi, April 7 (IANS) With the GST Council expected to meet soon, there has been a lot of conversation around GST restructuring, rate rationalisations, for and against views around minimum thresholds and more. Online skill gaming sector, one of the recognised sunrise sectors which has of late seen a lot of positive feedback from the Centre, has also been waiting to hear on GST for many distinct reasons. The online skill gaming industry has been on an upward trajectory for the last 4-5 years and the pandemic put this industry growing at the rate of 38 per cent CAGR into the spotlight. As per a recent BCG report, this sunrise sector in India has gained significant momentum with excellent Internet service providers, penetration of the use of mobiles across social and demographic barriers and India’s enthusiasm to adopt and adapt to the online gaming platforms. India’s share is currently at 1-2 per cent of the global gaming market with a market size of $1.8 billion of which Real-Money gaming has the largest constituent of revenue pool driven by higher user paying propensity (around 20 per cent of total market size). The total number of users of gaming services are close to 433 million and is expected to touch 650 million by 2025. However, apart from fine-tuning the regulatory mechanism, there’s an urgent need to look at the GST levied on the sector. Last year on May 24 a Group of Ministers (GoM) formed by the GST council to examine the taxation regime applicable to online gaming was seen as a progressive move, the industry hopes to see a stable and clear taxation regime. However, the committee was dissolved and a new one was formed earlier in February 2022. Currently, services provided by online skill gaming platforms are classified under service accounting code 998439 of the GST services classification and through this attracts a rate of 18 per cent on the Gross Gaming Revenue (GGR) for the service provider whereas, the games of chance (including gambling, casinos and more) are subjected to 28 per cent GST. The industry operators believe that the legislative view as proven by the jurisprudence in the country multiple times, clearly differentiates games of skill from games of chance and so the taxation levied should continue to take into account this differentiation. Furthermore, international practices related to taxes on gaming have proven that tax-rate shouldn’t exceed 20 per cent. Some of the developed economies like the UK, the US (Pennsylvania), Singapore have tax rate of GGR 15 per cent, 14 per cent and 7 per cent respectively. A report by Copenhagen Economics (one of the leading economics firms in Europe) also concludes that a tax rate in the range of 15 per cent to 20 per cent of GGR produces the most favourable outcomes for both operators and tax revenue. Malay Kumar Shukla, Chief Legal and Compliance Officer, Games24x7 says, “The international experience relating to taxation of gaming in the context of the platform-fee/GGR based gaming models has clearly shown the downside of excessive taxation. The GGR-based gaming platforms can only absorb an optimal range of taxation which is in the range of 15 per cent to 20 per cent of GGR. Higher tax incidence of tax is bound to alter player and compliance behaviour and will neither work in the benefit of the gaming industry nor the government. Therefore, the interpretation taken by the ‘games of skill’ industry in India to be taxed on Gross Gaming Revenue is supported by the legal provisions of GST law and is also in line with most international practices relating to taxation of gaming platforms.” At a time when the country has seen positive tax policies for some of the other identified sunrise sectors like biotechnology, chemical and renewable energy; it is only legitimate for this fastest growing tech industry within the M&E sector, to demand for a GST regime that can protect and promote the segment.

Maruti Suzuki to recall 19,731 units of Eeco

New Delhi, April 6 (IANS) Automobile major Maruti Suzuki India on Wednesday announced a voluntarily recall of 19,731 units of its ‘Eeco’ model. According to the company, the recall is being undertaken to inspect and rectify “incorrect marking of wheel rim size”, if any, on the wheel in some of these vehicles. “In a routine inspection, Maruti Suzuki found that in some units of EECO, manufactured between July 19, 2021 and October 5, 2021, the wheel rim size was incorrectly marked. This issue has no implication on performance, safety or environment,” the company said. “Affected vehicle owners will be receiving communication from Maruti Suzuki authorised workshops for vehicle inspection and necessary rectification, if wheel rim size marking is found incorrect.” In industry parlance, a voluntary recall is conducted to rectify defects in the product. This exercise is done free of cost to the consumer.

Coca-Cola to set up Rs 1,000 Cr plant in Telangana

Hyderabad, April 7 (IANS) Hindustan Coca-Cola Beverages (HCCB) on Thursday announced that it will set up a second factory in Telangana with an investment of Rs 1,000 crore. The plant for carbonated beverages, juices and water will come up at Food Processing Park at Bandathimmapur in Siddipet district. The company will invest Rs 600 crore in the plant in the first phase and another Rs 400 crore in the subsequent phases to take the total investment to Rs 1,000 crore in the next five years, said Telangana’s minister for industries K.T. Rama Rao at an event with the company leadership. HCCB CEO Neeraj Garg, Chief Commercial Officer, Bottling Investment Group, Juan Pablo Rodriguez Trovato, Principal Secretary, industries and commerce, government of Telangana, Jayesh Ranjan were present. This will be the second bottling plant for HCCB in Telangana. This is expected to double the company’s manufacturing capacity to cater to the sales in the region for the next 10 years. The state government has allotted 49 acres of land for the upcoming plant. The minister assured the company that they can go ahead with the construction without waiting for approvals under the state’s self-certification industrial policy. KTR, as the minister is popularly known, said the plant would employ a lot of personnel. He hailed the company’s announcement that more than 50 per cent of the employees will be women. The company plans to commence operations by the end of 2023. HCCB also signed a Memorandum of Understanding with the Telangana government for a long-term strategic partnership. Under the MoU, HCCB will help other industries in the state in water resource management, better management of solid waste and build skills among youth. To begin with, the company will train 10,000 youth in partnership with Telangana Academy of Skills and Knowledge (TASK).

New Delhi, April 6 (IANS) Chief Justice N.V. Ramana on Wednesday said he hopes he does not have to hear this case again, while recording that Amazon and Future Retail Ltd (FRL) will move the Singapore International Arbitration Centre (SIAC) to resume arbitration proceedings. A bench headed by him added that the tribunal will consider FRL’s application on priority for termination of arbitration proceedings, and pass orders. Concluding the hearing in the matter, the Chief Justice said: “I hope, I don’t get to hear this case again”. As senior advocate Gopal Subramanium, representing Amazon, said: “We look forward to appearing before you”, he replied: “no, no, some other case!” Amazon and Future Group are locked in multi-forum litigation in connection with FRL’s merger deal to the tune of Rs 24,500 crore with Reliance Retail Ltd, after Amazon dragged FRL into arbitration at the SIAC in October 2020. The top court was considering an application by Amazon seeking a direction to restrain FRL from alienating its assets. Amazon has alleged that FRL surrendered its stores to Reliance. Senior advocate K.V. Viswanathan, representing FRL, submitted before the court that the tribunal should decide on his client’s application for termination of arbitration proceedings. FRL has sought termination of arbitration proceedings citing Competition Commission of India (CCI) order. In December last year, the CCI had imposed a penalty of Rs 202 crore on Amazon and suspended its approval for the deal with Future Coupons, a promoter firm of the group’s public listed company Future Retail Ltd, seeking more information. Subramanium submitted that the single judge of the Delhi High Court has taken over the enforcement application. “Thus, we don’t have to bother you and the other side also cooperated with us,” he submitted before the bench, also comprising Krishna Murari and Hima Kohli. The bench noted parties agree that proceedings are underway before the single judge of the high court and thus, these applications are also sent to the single judge. Disposing of the plea, the bench said parties will approach the tribunal to resume arbitral proceedings and the tribunal will consider the termination application by FRL as under Section 32(2)(C), of the Arbitration and Conciliation Act 1996, and pass orders. Earlier, the top court had asked FRL and Amazon to jointly urge the Delhi High Court to first hear Amazon’s enforcement petitions, in connection with preservation of assets of FRL. Last week, senior advocate Harish Salve, representing FRL, told the Supreme Court that nobody wants to do business with it as Section 7 of the IBC may come any day, and the company owes landlords thousands of crores in rentals, as Amazon could not get Future Retail, it destroyed the company. He added that Reliance entered into agreement with the landlords (of its shops), and Future Retail owes Rs 3,000 crore in rentals. Subramanium had vehemently objected to the sudden handover of Future Retail assets. Citing a prayer in Amazon’s application, Subramanium opposed the alienation of Future Retail assets, saying: “Can’t be a magical switch... Future Retail shops should continue to remain with it; operated by FRL until matter is resolved by an arbitral tribunal.” Amazon moved the apex court challenging Delhi High Court’s January 5 order, which stayed the proceedings before the arbitral tribunal over FRL’s merger deal with Reliance Retail.

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Australian researchers open new insights into genetic causes of Alzheimer’s, dementia

Sydney, April 6 (IANS) An international team, including Australian researchers, have identified novel areas of DNA that are linked to the risk of developing Alzheimer’s disease (AD) and other forms of dementia. Researchers believe that the findings could lead to a better understanding into how the debilitating disease takes hold. The research, published in Nature Genetics and released on Tuesday, was based on a two-stage study of genomes of more than 111,000 people suffering from AD and some 670,000 controls who don’t have the disease, Xinhua news agency reported. The research found people with AD had numerous risk regions within their genomes which occur less among the control group. They initially found 42 risk regions, and further research in the new loci identified 31 genes that were suggestive of new genetically associated processes. One of the researchers, Associate Professor Michelle Lupton from Australia’s QIMR Berghofer Medical Research Institute, told Xinhua that the findings pinpointed the actual genes and genetic regions that are contributing to heritability. Based on the findings, they refined a previously existing “genetic risk score” which is used in identifying people who are more likely to get the disease. “As you get older, you could be diagnosed with mild cognitive impairment. So that’s when people start to just see reduced cognition. Around 50 per cent of people with mild cognitive impairment may go on to get dementia, however others won’t.” “This shows that people who have a high-risk score are more likely to get AD within three years, so you could try to prevent them developing the disease.” The research also confirmed previous findings regarding the protein amyloid-beta and tau, which build up in and around nerve cells as Alzheimer’s progresses, and pointed to new evidence for the role of genes involved in inflammation. “We see that a lot of genes that are involved in inflammation in the brain contribute to AD, especially the involvement of microglia, the immune cells in the brain. It gives clues to drug targets, and what to aim for when looking for drugs to treat or prevent AD,” Lupton said. Researchers said their findings suggest that AD is caused by a multitude of different factors. As one of the factors, the heritability of the disease is estimated to be between 60 per cent and 80 per cent. These newly identified genetic components provide an opportunity to determine the pathophysiological processes in the disease and to identify new biological features and new therapeutic targets through translational genomics.

Not just lungs, smoking affects every cell of human body: AIIMS Professor

IANS

New Delhi, April 8 (IANS) Not just lungs but also every cells of human body and the hard organs like bones and teeth get adversely affected by smoking, said Professor Uma Kumar, Head of Rheumatology at All India Institute of Medical Sciences (AIIMS), New Delhi. Kumar said that the first hand smoke and second hand smoke both are equally harmful for health. Expressing concerns on rising smoking habits among women, she said that it may result into infertility, cases of which is also rising these days. Also, smoking may lead to premature birth. People generally think that smoking affects lungs only, but the case is different, it affects every parts and is one of the important risk factors for growing numbers cases related to autoimmune diseases, Kumar said while speaking on the prevention of deaths caused by tobacco on the occasion of World Health Day. The event was organised by Tobacco Free India. Dr Vishal Rao of HCG, Bangalore said that the reason for the rapidly increasing cases of oral cancer in India is tobacco products. To save the lives of 13 lakh Indians annually, it is need of the hour that the strictness on tobacco products should be increased, said eminent economist and BJP’s national spokesperson Gopal Krishna Agarwal.

Use of viagra may lead to blindness: Study IANS

Toronto, April 8 (IANS) Regular use of viagra, used to treat erectile dysfunction, can harm your vision leaving you blind, a study has claimed. Researchers from the University of British Columbia in Canada have found that people regularly taking the common erectile dysfunction pill may be at increased risk of sudden losses of vision, flashes of light, and dark spots, Daily Mail reported. The reason may be an increase in blood flow to the genitals which could be hindering its supply to the eyes, the researchers said. The team also named other impotence medicines - Cialis, Levitra and Spedra - as being potential triggers of eye problems. Regular users of the impotence pills are 85 per cent more likely to develop serious vision-robbing conditions, revealed the study published in JAMA Ophthalmology. “These are rare conditions, and the risk of developing one remains very low for any individual user. However, the sheer number of prescriptions dispensed each month in the US - about 20 million - means that a significant number of people could be impacted,” lead researcher Dr Mahyar Etminan, an ophthalmologist at the varsity, was quoted as saying. “Regular users who find any changes in their vision should take it seriously and seek medical attention,” he suggested. In the study, the team analysed insurance claim records of 213,033 men using ED pills: 123,347 men took sildenafil - the medication branded as Viagra by Pfizer, 78,609 were on tadalafil (Cialis); 6,604 took vardenafil (Levitra), and 4,473 were on avanfil (Spedra), the report said. The team followed the claim records from 2006 to 2020 to see which ones went on to develop eye conditions. None of the men had suffered eye problems in the year before they became regular users of the medication. They found that regular intake of one of the medications was 158 per cent more likely to lead to serious retinal detachment. It occurs when a collection of fluid builds up behind the back of the eye and causes the sudden appearance of spots in the field of vision and flashes of light. The men were 102 per cent more likely to suffer ischemic optic neuropathy - a compromised blood supply to the optic nerve. The condition causes a loss of central vision. And they were 44 per cent more likely to develop retinal vascular occlusion - a type of blood clot in the retina. People with it suffer a sudden loss of vision and dark spots or ‘floaters’ in their vision, the report said.

Flipkart launches health app to supply affordable medicines in remote places

IANS

Bengaluru, April 6 (IANS)

E-commerce platform Flipkart on Wednesday announced the launch of an app that will enable access to affordable medicines and healthcare products and services for customers across over 20,000 pincodes in India. The app Flipkart Health+ aims to partner and strengthen the healthcare ecosystem by solving the critical gap of accessibility to genuine medicines and healthcare products in remote locations to address unmet healthcare needs. It will also contribute to ‘Swasth Bharat’, the company said. “Since the Covid-19 pandemic, Indians have witnessed a tremendous shift in favouring wellness and preventative healthcare and there is an increased focus on health and wellness, like never before,” said Prashant Jhaveri, Chief Executive Officer, Flipkart Health+, in a statement. “We want to leverage technology in a way that strengthens the healthcare ecosystem and enables it to serve customers better by making accessibility to healthcare simpler even for those residing in distant areas of the country and contributing towards a healthier India,” he added. In November, last year, Flipkart forayed into the healthcare sector through the launch of Flipkart Health+. As part of this, the Flipkart Group signed definitive agreements to acquire a majority share in Sastasundar Marketplace, which owns and operates SastaSundar. com, an online pharmacy and digital healthcare platform. The new app would benefit from the expertise and experience of the Flipkart Group’s reach and last-mile supply chain capabilities, coupled with Sastasundar.com’s robust healthcare network across the country, the company said. Flipkart Health+ app has been designed and developed with a user-friendly interface that will appeal to customers, irrespective of their technological adeptness. To begin with, the Flipkart Health+ platform will have around more than 500 independent sellers who have a network of registered pharmacists for validation of medical prescriptions and accurate dispensation of medicines. Even though it is an intermediary marketplace platform, the company said it has put in place various quality checks and verification protocols, which will facilitate delivery of genuine medicines and healthcare products from independent sellers to the customer’s doorstep. In the coming months, Flipkart Health+ also plans to onboard third-party healthcare service providers who will offer other value-added healthcare services like teleconsultation and e-diagnostics to the customers. The app is initially available on the Android Play Store and will be made available on iOS in future. It can be accessed on low bandwidth as well, making it accessible to customers across the country, the company said.

Diabetes, BP, asthma significantly high in India post Covid

New Delhi, April 6 (IANS) The prevalence and distribution of non-communicable diseases (NCDs) such as diabetes, hypertension and heart disease, asthma, and obesity is significantly on the rise across the country after the two years of Covid-19 pandemic, according to a report, ahead of the World Health Day. World Health Day is a global health awareness day celebrated every year on April 7. The Health of the Nation 2022 report, by Apollo Hospitals, indicated a national prevalence for diabetes mellitus of around 7 per cent, over 8 per cent for hypertension, and around 2 per cent for Chronic Obstructive Lung Disease (COPD) and asthma. NCDs pose devastating health consequences for individuals, families, and communities with socioeconomic costs that can derail India’s achieving the target of reducing premature mortality from NCDs by one-third by 2030 in line with the United Nations Agenda for Sustainable Development. In India, NCDs kill 6 million people every year of which around 23 per cent are between 30-70 years of age. “As we emerge from the shadow of Covid, it is imperative to bring the focus back on the pandemic of NCDs, a focus that faced a disruption impacting diagnosis and treatment for millions of patients,” said Dr Prathap C. Reddy, Chairman, Apollo Hospitals Group, in a statement. “For a developing country like India, NCDs are a critical matter that need to be addressed. Considering our population of 1.2 billion, these are huge numbers that will increase the burden of disease and impact productivity and economic growth,” he added. He suggested addressing the NCD challenge through promotion of healthy lifestyles, early diagnosis and management. The increasing risk of NCDs such as diabetes, BP, and cardiovascular diseases in India are majorly the result of physical inactiveness clubbed with genetic factors, revealed a report by Indus Health Plus. Regular preventive screening and a healthy lifestyle with physical activities may help curb the NCDs in the country. According to Dr Tilak Suvarna, senior interventional cardiologist, Asian Heart Institute, Mumbai, correcting six lifestyle choices such as unhealthy snacking habits, excessive salt consumption, lack of physical activity, overindulging in alcohol, smoking and chewing tobacco, and excessive stress can help people live with not only a healthy heart but overall fitness and well being.

IIT Madras launches indigenously developed polycentric prosthetic knee

Chennai, April 8 (IANS) Researchers at the Indian Institute of Technology (IIT) Madras have launched India’s first indigenously developed polycentric prosthetic knee, which aims to improve the quality of life for thousands of above-knee amputees. Called Kadam, the prosthetic knee has advantages over a hinge joint because of the multiple axes of rotation, which provide the user greater control over the prosthesis while walking and maximum knee flexion of 160 degrees to make it easy to sit in cramped spaces like buses and autos. It is designed for durability with high strength stainless steel and aluminium alloy along with hard chrome plated EN8 pins and high fatigue life polymer bushings.

Indigenously developed Kadam is affordable and at the same time, of high quality and performance, complying with ISO standards including 30 lakh cycles of fatigue testing. It provides stability, reduces the risk of stumbling and its patented geometry is specifically optimised for use on uneven terrains. “Functional needs, socioeconomic and environmental challenges of Indian users are unique. Kadam’s user-centric design takes these into account. It meets international quality standards while being 4-5 times more affordable than comparable imported knees,” said Prof Sujatha Srinivasan, Head, TTK Center for Rehabilitation Research and Device Development (R2D2), IIT Madras, in a statement. A team at TTK Centre for Rehabilitation Research and Device Development (R2D2) at IIT Madras developed Kadamin association with Society for Biomedical Technology (SBMT) and Mobility India. Through Mobility India, extensive clinical trials have been conducted in various geographical settings. The feedback has ensured that the design is user-centric and functional in different environments. Users instantly recognise the stable nature of the knee. The ability of the user to let go of the safety of parallel bars in the very first trial is a testimony to the performance of the knee. It is also customisable stability adjustment depending on the user’s need and provides frictional swing control adjustment for different walking speeds. IIT Madras’ TTK Centre had previously developed and commercialised Arise - the country’s first standing wheelchair - and NeoFly-NeoBolt - active wheelchair and motorised add-on for seamless indoor-outdoor mobility.

Indian student shot dead in Toronto

Toronto, April 9 (IANS) A 21-yearold Indian student was shot dead at the entrance of a subway station in Toronto. Kartik Vasudev was shot several times at about 5 p.m. on Thursday at the entrance to the Sherbourne subway station, which is not far from the Indian Consulate in Toronto. According to Toronto Police, its officers responded to a radio call at Sherbourne TTC Subway station for a shooting. The victim, who suffered multiple gunshot wounds, was initially

Chandigarh, April 1 (IANS) In a historic move, the New Democratic Party (NDP) government in Canada’s British Columbia province has recognised April as the Dalit History Month. Responding to an application moved by Radical Desi, an online magazine that covers alternative politics, the provincial Attorney General and the Lt. Governor signed the proclamation declaring April 2022 as Dalit History Month. Since April is the birthday month of a towering Dalit leader and world renowned scholar Dr B.R. Ambedkar, it has a special significance for the Dalits across the globe. Also, the month of April is important because of the birth and death anniversaries of other Dalit icons, such as Jyotirao Phule, Mangu Ram Mugowalia and Sant Ram Udasi. Both Ambedkar and Phule were born in Maharashtra. Ambedkar, who was the architect of the Indian constitution and had attended to by an off-duty paramedic. He was taken to hospital where he succumbed to his injuries. Police are looking for a black male who was seen walking with a handgun from the crime scene. The motive of the attack is not known. Vasudev, who was a student of marketing management program at Seneca College, had arrived in Canada in January. Expressing shock at the killing, the Indian Consulate tweeted on Friday: “We are shocked & distressed at the unfortunate killing of Indian student Kartik Vasudev in a shooting incident in Toronto yesterday. We are in touch with the family and will provide all possible assistance in early repatriation of mortal remains.” In a statement, Seneca College said, “The Seneca community is saddened to hear of the tragic death of Kartik Vasudev, a first-semester Marketing Management student. Our thoughts are with Mr. Vasudev’s family, friends and classmates. Counselling support is being made available to students and employees.”

Canadian province proclaims Dalit History Month

fought against caste-based discrimination against his community, was born in Maharashtra on April 14 in 1891. He also stood up for the rights of the women and challenged Hindu supremacy. Phule, who was a well-respected social reformer who had denounced untouchability, was born on April 11, 1827. He was known as an educator, who believed in scientific thinking and women empowerment. Mugowalia and Udasi on the other hand hailed from Punjab. Mugowalia, who had participated in an armed resistance against British occupation of India, was instrumental behind Dalit emancipation movement in Punjab. He died on April 22, 1980. Udasi was a revolutionary poet, who was born on April 20, 1939. He was influenced by communist revolution and later became an inspiration for the poor working class and those resisting repression. The British Columbia proclamation not only recognises these individuals, but also acknowledges “the strength and resiliency of the Dalit community in overcoming hardships and advocating for social justice and equality for all”. Decreed in the name of Queen Elizabeth II, the proclamation noted that British Columbia is “a culturally diverse province comprising many peoples and communities”. “Indigenous people, Black people and people of colour in British Columbia continue to experience systemic racism, injustices, discrimination and hate and the government of British Columbia is committed to address all forms of racism.” Last year, the province celebrated the 130th birth anniversary of Ambedkar on April 14 as ‘Equality Day’.

Indians top as Canada admits 108,000 new immigrants in 1st quarter

Toronto, April 1: Canada, which plans to admit a record 432,000 new immigrants in 2022, is on target to hit this mark as the country welcomed 108,000 newcomers in the first three months of the year. “Canada is proud to be a destination of choice for so many people around the world, and we will continue to work hard to provide the best experience possible for them,” said Sean Fraser, Minister of Immigration, Refugees and Citizenship, releasing the figures for the first quarter on Thursday. Though there is no country-wise break-up of the numbers, Indians are the top immigrant group to take up residence in Canada this year. In 2021, nearly 100,000 Indians became permanent residents of Canada as the country admitted a record 405,000 new immigrants in its history. During 2021-2022, over 210,000 permanent residents also acquired Canadian citizenship. As per figures released by Immigration, Refugees and Citizenship Canada (IRCC), it also issued 450,000 study permit applications. There are over 622,000 foreign students in Canada, with Indians numbering 217,410 as of December 31, 2021.

Libel case against neighbour: Court rejects Salman’s plea with costs QUAID NAJMI

Mumbai, March 30 (IANS) In a huge loss of face for Bollywood actor Salman Khan, a Mumbai court has rejected his interim plea for a ‘gag order’ in a defamation suit against his NRI neighbour, along with costs. The verdict of Bombay City Civil and Sessions Court Judge A.H. Laddhad, rejecting Salman’s plea against his neighbour Ketan R. Kakkad, with social media giants like Google, YouTube, Facebook and Twitter, Sandeep Phogat, Paras Bhat and Ujjwal Narain as parties, was pronounced on March 23 and the detailed order came out on Wednesday. Judge Laddhad rejected Salman’s notice of motion awarding costs to Kakkad and disposed of the matter. Referring to the alleged utterances against Salman by viewers on social media, the court said the plaintiff failed to explain that these pertained to him or how they related to him. The judge also said on perusal of some of the social media posts/videos transcripts, he found that they were not “entirely not defamatory per se”. The court referred to some of the posts like “rapists of nature”, “white terror”, “loot-atyachara, “naked dance by Miya Salman Khan”, “mega-corruption” etc. purportedly tweeted by Kakkad, and statements by some journalists comparing Salman with the Taliban, how the actor was “mafia”, “bully terrorising the locals”, “fudging records”, etc. that were produced by the actor’s team. In contrast, the verdict noted that Kakkad had placed on record evidences like complaints and show-cause notices to Salman about the allegations of encroachments by the latter in his Panvel property, the 100-acres Arpita Farms, in public interest as a “whistle-blower”. Incidentally, Kakkad has already complained about these to Prime Minister Narendra Modi and other bigwigs in Maharashtra, but had got no respite nor allowed to enter his property which is adjacent at a higher level with Salman’s Arpita Farms since the past few years. At the preliminary stage of the defamation suit, Judge Laddhad found Kakkad’s plea of justification as more probable than Khan’s prima facie case, as the former had come with specific material to defend himself. The order mentions issues raised by Salman against his neighbour like building a gate to block Kakkad’s entry to his property to which there was no denial, accusing the actor of “raping mother nature” with illegal constructions on Arpita Farms, keeping wild animals illegally and more. Plus, there were claims of links with the mafia ‘D-Company’ and keeping a “gang” of absconding don Dawood Ibrahim Kaskar on his property, speculation of drug/child trafficking, organ trafficking, dead body found on his property, using explosives, influencing officials to stall Kakkad’s works, attempting to “communalise” the issue and connect Sushant Singh Rajput’s death with Khan’s Panvel property. The verdict speaks of Kakkad’s social media statements of 265 acres of land sold to one company, political links extending to Dubai, Bahrain, grabbing not only his (Kakkad’s) money but of thousands of other NRIs, how Salman had invited former BJP Minister Sudhir Mungantiwar though Kakkad’s complaint against the actor was pending, comparisons with Emperor Babur or Emperor Aurangzeb, but the court said it was not clear nor was Khan’s name mentioned. On the Rajput death episode, the court said that Kakkad was expressing his opinion but he had not named Salman, his farmhouse or that the actor was involved in the (Rajput) death case. During the hearings, the judge noted that the social media giants and the others had pleaded how they were unnecessarily dragged into the Kakkad matter by Salman though they had nothing to do with both the parties and had sought their names to be deleted, as the case became one of the most avidly-monitored globally. Stung by the contentions of Salman, Kakkad later indicated that he is contemplating filing a counter-defamation case against the actor and is seeking legal advice in the matter. (Quaid Najmi can be contacted at q.najmi@ians.in)

Over 1.33 lakh Indians went abroad this year for higher studies: Govt

New Delhi, March 31: A total of 1,33,135 Indian students went abroad for higher studies this year, as on March 20, the Parliament was informed on Thursday. As per information received from Bureau of Immigration (BoI), the number of Indian students, who departed India for higher education in the current year, is 1,33,135 so far while there were 4,44,553 students in 2021 and 2,59,655 in 2020, Minister of State for External Affairs V. Muraleedharan told Rajya Sabha in a written reply. He also said that according to information received from the BoI, the top preferred countries for education in 2021 were the US, Canada, and the UK. He also said that granting visas is the sovereign right of a country and various countries have been granting visas to Indian students for studying in universities of their countries. However, if there is temporary restriction or delay in the grant of visa then the Ministry and the respective Indian Mission take it up proactively with the country concerned. Responding to a query from CPI-M member K. Soma Prasad, Muraleedharan said that the Student Module of the MADAD portal, launched on July 15, 2016 enables Indian students studying abroad or aspiring to study abroad to register voluntarily and provide information on their course, institutions, contact details, emergency contact etc. His Ministry, through its missions/ posts abroad have been regularly interacting with Indian students studying abroad to register their details on the student module and also encouraging Indian student organisations and Indian community associations for the same including through social media platforms. In response to another question, Minister of State for External Affairs Meenakshi Lekhi informed the House that overall, 22,500 nationals have returned to India since February 2022 after the RussiaUkraine war broke out in February. “Around 40-50 Indian nationals are still in Ukraine, of which only a few are willing to return to India and their return is being facilitated by the Embassy.” She also informed that during the global Covid-19 pandemic, the government had launched the Vande Bharat Mission to repatriate Indian nationals and to facilitate the travel of passengers between India and other parts of the world. “Around 2.97 crore passengers (in-bound and out-bound) have been facilitated in the flights operated under the Vande Bharat Mission and Air Bubble Arrangements till date,” Lekhi said Under Operation Devi Shakti, a total of 669 people were evacuated from Afghanistan. This included 448 Indian nationals, 206 Afghans (including Hindu and Sikh community members) and 15 people of other nationalities (Nepal, Lebanon and Uganda) in seven flights (six flights operated between August 16 to 25, 2021 and the last flight on December 10, 2021). All Indian nationals who had sought repatriation to India were evacuated, she added in her reply.

Non-dom status of UK Chancellor’s heiress wife means she could have avoided 4.4m pounds in UK tax last year: Report

London, April 7: UK’s Chancellor of Exchequer Rishi Sunak is scrambling to quell a row over his billionaire heiress wife’s ‘non-dom’ status amid claims she could have avoided millions of pounds in UK tax, Daily Mail reported. Akshata Murthy, whose father is one of India’s richest men, is facing scrutiny after it emerged she has kept the status despite living in 11 Downing Street with the Chancellor and their children. It means she was not liable for tax on overseas earnings, including dividends from her father’s company that reportedly came to 11.6 million pounds last year. That sum could have meant paying 4.4 million pounds to HMRC. A spokeswoman for Murthy pointed out she is an Indian citizen and stressed she pays UK taxes on UK income. There is no suggestion any laws or rules have been broken. However, reforms brought in by the Tory government in 2015 stated that non-dom status is intended to “support those from overseas who come to the UK but don’t intend to stay here permanently”. Labour Party chief Keir Starmer said the arrangements appeared to represent “breathtaking hypocrisy” and showed Sunak is “out of touch” with ordinary people, Daily Mail reported. Shadow Business Secretary Ed Miliband said there was no legal issue but pointed out the government was making Britons pay more tax, after the national insurance hike came in on Wednesday. “He is the UK Chancellor asking people to pay more in taxes. Is it right that his immediate family is sheltering from UK taxes? I think Rishi Sunak and his family should reflect on that,” he told Sky News. Miliband also sparked questions by suggesting non-dom status should have been abolished by the last Labour government - although it is not clear whether that is the party’s current position.