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Friday, March 20, 2026 4:02 PM

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Odisha Launches PM-USHA Programme to Boost Higher Education

The Odisha government has launched the Pradhan Mantri Uchchatar Shiksha Abhiyan (PM-USHA), a significant initiative aimed at enhancing the state’s higher education sector. The programme was introduced through a Memorandum of Understanding (MoU) signed between the state and the Union Education Ministry, with Union Education Minister Dharmendra Pradhan, Odisha Chief Minister Mohan Charan, and State Higher Education Minister Suryabanshi Suraj in attendance. Under PM-USHA, the central government will contribute Rs 500 crore towards the development and infrastructure of higher education institutions across Odisha. Union Minister Pradhan described the launch as a landmark moment for Odisha’s educational landscape, aligning with Prime Minister Narendra Modi’s vision under the National Education Policy, 2020. Key Aspects of PM-USHA PM-USHA aims to ensure access, equity, and excellence in higher education across Odisha. The funding model includes 60 percent from the central government and 40 percent from the state, focusing on transforming state universities into world-class institutions equipped with 21st-century skills. Chief Minister Charan highlighted the initiative’s goal of upskilling one crore students and making Odisha a knowledge hub. Plans also include granting autonomy to state universities, revamping curricula, improving teacher training, and enhancing infrastructure and employability. The initiative promises to foster regional equity and sustainable development, aligning with the BJP’s election manifesto. Source: India today  

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White & Case Advises Air France-KLM on Strategic Stake Acquisition in Scandinavian Airlines

Global law firm White & Case LLP has advised Air France-KLM on acquiring a 19.9% non-controlling stake in Scandinavian Airlines (SAS AB), Scandinavia’s leading airline. The transaction, which follows regulatory approvals in Europe and the US, enables SAS AB to exit its Chapter 11 reorganization and Swedish restructuring proceedings. Air France-KLM’s investment was part of a broader consortium, including Castlelake L.P., Lind Invest ApS, and the Danish State, which now collectively holds an 86.4% stake in the reorganized airline. The consortium invested $1.2 billion in total, subscribing to $475 million of common shares and purchasing $725 million of senior secured convertible notes. Air France-KLM’s contribution amounted to $144.5 million, consisting of $109.5 million in common shares and $35 million in senior secured convertible notes. Agreements within the consortium allow Air France-KLM to potentially increase its stake to a controlling position after a minimum of two years, subject to regulatory approvals and the airline’s financial performance. The White & Case team advising on this transaction included partners from Miami, New York, Chicago, Stockholm, Düsseldorf, Brussels, and Paris, along with counsel and associates providing cross-jurisdictional expertise to facilitate the deal. Source: White case  

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Himachal Pradesh Government Rationalises Subsidies for Financial Prudence

The Himachal Pradesh government, led by Chief Minister Sukhvinder Singh Sukhu, is taking steps to rationalise subsidies and freebies to address the State’s financial challenges. With the total debt soaring from ₹47,906 crore in 2018 to ₹76,651 crore in 2023, Sukhu has criticized the previous BJP regime for its wasteful expenditures and financial mismanagement. Sukhu’s government aims to improve revenue by curbing subsidies given to affluent sections of society. “We are working towards fiscal prudence, and rationalising various subsidies is one among them,” said the Chief Minister. Subsidy cuts include stopping the electricity subsidy for hotels and large commercial establishments, and imposing charges for water on rural households earning above ₹50,000 annually, while weaker sections continue to receive it for free. The government has also introduced water cess on power projects, though its implementation faces legal hurdles. Other austerity measures include deferring the salaries of top government officials for two months to symbolize the State’s commitment to financial discipline. The opposition BJP has targeted the Congress government, blaming it for the rising debt, now approaching ₹90,000 crore. Sukhu argues that his government inherited this financial burden and is taking steps to correct it, such as adopting an open tender policy for auctioning retail liquor vends, generating significant revenue compared to the previous government’s approach. Sukhu also criticized the BJP for not adequately presenting the State’s case before the 15th Finance Commission, resulting in a reduction of the revenue deficit grant and restrictions on borrowing for external projects. Sukhu’s government continues to push for reforms to stabilize the State’s finances and curb further debt accumulation. Source: The Hindu  

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Health Ministry Initiates Recruitment for Technical Resource Centres

The Union Health Ministry, in collaboration with the Indian Council of Medical Research (ICMR), is advancing efforts to establish Technical Resource Centres (TRCs) aimed at synthesizing and evaluating evidence to develop and promote evidence-based healthcare policies. These centres will play a pivotal role in formulating clinical guidelines and enhancing the adoption of best practices within the healthcare sector. ICMR has issued a call for Expressions of Interest (EoI) from researchers, faculty, and scientists to join these centres. Each TRC will receive financial support of up to ₹20 lakh per year, with funding initially set for three years and subject to annual performance reviews. The TRCs will conduct systematic reviews and meta-analyses to generate high-quality evidence, utilizing the GRADE (Grading of Recommendations, Assessment, Development, and Evaluation) approach. The centres will also organize training programs and workshops to disseminate best practices and support effective guideline development. Regular monitoring visits, professional development plans, and biannual training programs are integral components of the TRCs’ operations. Manuscripts based on completed evidence tables are expected to be submitted within three months. The ICMR has outlined eligibility criteria for applicants, including regular employment at medical institutes, research centres, universities, or colleges, along with the necessary experience, resources, and preferably access to relevant databases. Applications will be reviewed by an expert committee, with selected participants to be notified via email and the DHR website in September 2024. The evaluation of applications will be based on expertise in evidence synthesis, available infrastructure and resources, publication history, and the extent of collaboration and networking capabilities. Source: The Hindu

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Rajasthan Education Minister: Akbar Will No Longer Be Taught as ‘Great’ in Schools

Rajasthan Education Minister Madan Dilawar announced that Mughal emperor Akbar would no longer be taught as a great figure in the state’s school curriculum. Speaking at the 28th state-level “Bhama Shah Samman Samaroh” at Udaipur’s Sukhadia University, Dilawar criticized Akbar, accusing him of plundering the country for years, and declared that praising him as a ‘great personality’ would not be allowed in the future. The minister expressed disappointment that historical figures like Maharana Pratap, who fought valiantly for Mewar’s honour, were not given due recognition. He emphasized the importance of education and assured that funds contributed by Bhama Shahs for educational purposes would be used appropriately. Earlier, in January, Dilawar referred to Akbar as “a rapist” and called for the removal of any references to him as a “great personality” in school textbooks. He criticized the existing curriculum for containing misleading information about Indian historical figures, including Veer Savarkar and Shivaji. Dilawar also condemned the portrayal of Shivaji as ‘Pahadi Chuha’ (Mountain Rat) and highlighted the need to properly honour Maharana Pratap’s legacy. Dilawar praised Rajasthan’s tradition of Bhama Shahs, crediting former Chief Minister Bhairon Singh Shekhawat for initiating cooperation from Bhama Shahs in 1997. He highlighted Rajasthan’s legacy of sacrifice, valour, and heroism, recalling how Bhama Shah donated his entire wealth to Maharana Pratap during his exile in the forests. The minister concluded by celebrating Rajasthan as a land of great men, acknowledging the inspirational legacies of Maharana Pratap, Bhama Shah, and tribal leader Govind Guru. Source: News 18  

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Indoor Air Pollution: A Bigger Health Threat than Outdoor Pollution in India

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Indoor air pollution is an often overlooked but significant health risk in India, surpassing even outdoor air pollution. While outdoor air quality in major cities like Delhi garners much attention, the air inside homes, especially in rural areas, remains dangerously polluted. Experts at the India Clean Air Summit (ICAS) 2024 highlighted this pressing issue, calling for expanded efforts to address indoor air quality, which impacts millions of people daily. The Invisible Threat Indoors According to Soumya Swaminathan, Principal Advisor at the Ministry of Health and Family Welfare, studies conducted in Delhi reveal that women who spend most of their time indoors are exposed to high levels of black carbon comparable to those faced by auto-rickshaw passengers in the city. Black carbon, a harmful particulate matter, is released from various sources, including traditional cooking stoves, open fires, and poorly ventilated spaces. This indoor exposure contributes significantly to health problems such as high blood pressure, chronic respiratory diseases, and heart ailments. Swaminathan noted that cities contribute less than 20% to overall state emissions, whereas household emissions range between 20% and 40%. Surprisingly, rural areas and villages often experience worse air quality than nearby cities due to the prevalence of biomass burning for cooking and heating. This challenges the common perception that urban areas are the primary hotspots of air pollution. Expanding the National Clean Air Programme (NCAP) The current focus of India’s National Clean Air Programme (NCAP) is on non-attainment cities—those that fail to meet air quality standards. However, Swaminathan’s observations underscore the need to broaden the scope of the NCAP to include rural areas and household emissions, which are often overlooked. By expanding the programme, policymakers can address the root causes of indoor air pollution that affect a vast portion of the population. Health and Economic Costs of Indoor Air Pollution Indoor air pollution not only poses severe health risks but also exacts a heavy economic toll. The World Bank recently reported that air pollution cost the global economy approximately USD 8.1 trillion in 2019, equivalent to 6.1% of the global GDP. In India, the health impacts of pollutants like PM2.5 contribute significantly to reduced life expectancy and increased healthcare costs. Swaminathan pointed out that PM2.5 pollution is almost as detrimental as tobacco use, yet it receives far less regulatory attention. Moreover, air pollution affects agriculture by reducing sunlight penetration, which impacts crop yields and, in turn, the economy. The cascading effects of poor air quality on public health, agriculture, and overall economic well-being make a compelling case for immediate action. Barriers to Clean Cooking Solutions Kalpana Balakrishnan, Director of the WHO Collaborating Center for Occupational and Environmental Health, highlighted the financial barriers preventing widespread adoption of clean cooking fuels. Initiatives like the Pradhan Mantri Ujjwala Yojana (PMUY), launched in 2016, aimed to provide free LPG connections to millions of households. However, many beneficiaries did not refill their cylinders due to cost concerns, reverting to traditional biomass fuels. Data shows that despite the government’s claims of 99.8% LPG coverage, 41% of India’s population still relies on biomass for cooking. This reliance on traditional cooking methods significantly contributes to household air pollution, leading to respiratory illnesses, cardiovascular diseases, and other severe health conditions. The Way Forward The findings discussed at the India Clean Air Summit underscore the urgent need to address indoor air pollution through a multi-faceted approach. Expanding the NCAP to cover household emissions, increasing financial incentives for clean cooking fuels, and improving public awareness about the health impacts of indoor pollutants are critical steps. Promoting clean air goes beyond safeguarding public health; it is also an economic imperative. Cleaner air will not only reduce healthcare costs but also improve agricultural productivity and attract investments by making cities and rural areas more livable. As experts advocate for stronger policies and financial support, it’s clear that tackling indoor air pollution requires collective action from governments, communities, and individuals. Investing in cleaner indoor air is an investment in the nation’s health, economy, and future.  

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Zomato Completes Acquisition of Paytm’s Entertainment and Ticketing Business

Zomato has successfully completed the acquisition of Paytm subsidiaries Wasteland Entertainment Pvt Ltd (WEPL) and Orbgen Technologies Pvt Limited (OTPL) for ₹2,048 crores, marking its entry into the entertainment ticketing business. This strategic move aims to expand Zomato’s reach beyond food delivery into the entertainment sector. The acquisition, finalized on August 21, was confirmed through official filings by both companies. The deal, valued on a cash-free, debt-free basis, highlights the value Paytm has created in the entertainment ticketing space, with its platforms TicketNew and Insider offering convenience to millions of users. As part of the agreement, Zomato will acquire a 100 percent stake in WEPL and OTPL, bringing approximately 280 employees from Paytm’s entertainment ticketing division under its wing. During a 12-month transition period, movie and event tickets will continue to be available on the Paytm app and the TicketNew and Insider platforms, ensuring uninterrupted service for users. Paytm, which had invested ₹268 crores to acquire TicketNew and Insider between 2017 and 2018, plans to refocus on its core payments and financial services business. Despite this divestment, the entertainment ticketing segment remains an important milestone in Paytm’s journey. Following the announcement, Zomato’s stock opened in green at ₹256.20, reflecting investor confidence in the company’s expanded business strategy. Over the past six months, Zomato has delivered a 60 percent return to its shareholders, underscoring the market’s positive outlook on the company’s growth prospects. Source: Hindustan Times

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Delhi Govt Mandates Private Schools to Support Students Who Lost Parents Post-2020

The Delhi Education Department has issued a directive to private schools, urging them to extend support to students who lost one or both parents after March 2020. This initiative aims to ensure uninterrupted education for these vulnerable students through provisions like free ship or classification under the Economically Weaker Section (EWS) or Disadvantaged Group categories. The circular emphasizes that private unaided and aided recognized schools must provide the necessary educational support to orphans and children who have lost a parent, whether due to COVID-19 or other circumstances. Schools operating on land allotted by the Delhi Development Authority (DDA) or government are required to immediately place these students under the free ship category, ensuring that their education continues without financial burden. District Deputy Directors of Education (DDEs) have been instructed to monitor and facilitate this process, ensuring no delays at the school, zonal, or district level. The directive mandates that all eligible students be enrolled under the EWS category, allowing them access to the necessary educational resources and support systems. Private schools are entitled to claim reimbursement for these students’ fees up to the elementary level from the Directorate of Education, Delhi. For students who have completed Class 8, the circular advises that they should be guided towards admission into government schools, ensuring a smooth transition and continued access to education. This measure is part of the Delhi government’s broader strategy to provide educational support to children affected by the pandemic and its aftermath. The Delhi government’s initiative underscores a commitment to safeguarding the educational rights of children who have experienced significant personal loss, ensuring that financial constraints do not impede their future opportunities. Source: India Today  

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Mukesh Ambani: Disney Deal Ushers in New Era for India’s Entertainment Industry

Reliance Industries Chairman Mukesh Ambani hailed the merger of media assets between Reliance and Walt Disney as a transformative moment for India’s entertainment sector. Speaking at the Reliance AGM, Ambani emphasized that the partnership marks the start of a new era by blending content creation with digital streaming, much like Reliance’s success with Jio and Retail. The deal, approved by the Competition Commission of India (CCI), combines Reliance’s media holdings, including TV18 and the Colors brand, with Disney’s assets, creating India’s largest media empire valued at over Rs 70,000 crore. The joint venture will house two major OTT platforms, Disney Hotstar and Jio Cinema, along with 120 television channels. Ambani highlighted that the combined media business would be a crucial growth center for the Reliance ecosystem, promising to deliver world-class digital entertainment to cater to diverse consumer tastes at affordable prices. “Our digital-first approach will deliver unparalleled content,” he added, underlining the potential of this venture to redefine India’s media landscape. The merger will see Reliance and its affiliates hold a 63.16% stake in the combined entity, while Disney will hold the remaining 36.84%. Reliance has committed to investing nearly Rs 11,500 crore into the venture to enhance its competitive edge against rivals like Sony and Netflix. Nita Ambani, wife of Mukesh Ambani, will chair the new joint venture, with Uday Shankar serving as Vice Chairperson. The CCI’s clearance of the merger followed adjustments proposed by both parties to the original transaction structure. Source: Business Standard

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M&As in India Hit New Highs: Key Deals of Q2 2024

India’s dealmaking activity reached new heights in Q2 2024, with 501 deals valued at $21.4 billion—the highest quarterly volume since Q2 2022, according to Grant Thornton Bharat Dealtracker. Mergers & Acquisitions (M&A) and Private Equity (PE) deals collectively stood at 467, valued at $14.9 billion, marking a 9% increase in volume but a 28% decrease in value compared to Q1 2024, due to the absence of mega-mergers like the Reliance-Disney deal. Key Highlights: Surge in High-Value Deals: The quarter saw 30 high-value transactions, a 58% increase from Q1 2024. Indian companies showed strong confidence in the domestic market, driving significant investment. Sector Leaders: Traditional sectors like pharmaceuticals and manufacturing were key contributors, accounting for nearly half of the total deal values. Domestic Deals Dominate: M&A saw 132 deals worth $6.2 billion, driven by four high-value deals from the Adani Group in the industrial materials and ports sectors, which made up 52% of the total M&A value. Cross-Border Decline: Cross-border deals saw a decline, with a 24% drop in volume and an 85% reduction in value compared to Q1 2024. Deal of the Quarter: Ambuja Cement’s $1.3 billion acquisition of Penna Cements was the standout deal, boosting Adani Cement’s market share by 2% across India. Sector-Specific Investments: Notable investments included those in EVs, industrial materials, pharma & biotech, energy & renewables, and defense. PE Landscape: Private Equity saw 335 deals worth $8.7 billion, with a 9% increase in volume and a 55% jump in value. High-value deals (≥ USD 100 million) dominated, reflecting a shift towards investments in companies with proven business models. Notable investments included Zepto ($665 million) and Lenskart ($200 million). QIP & IPO Trends: Q2 2024 recorded 20 QIPs totaling $2.3 billion and 14 IPOs valued at $4.2 billion, marking the highest quarterly IPO size since Q2 2022. Sector Trends: Retail & Consumer: Topped overall volumes but saw a marginal 7% decline in volumes. Pharma, Healthcare & Biotech: Led values with $3.8 billion across 53 deals, driven by ten high-value transactions. Manufacturing: Saw a significant rise with values increasing ninefold to $3.5 billion, mainly due to Adani Group’s high-value deals. Conclusion: M&A and PE activity in India are on an upward trajectory, fueled by domestic confidence and strategic sector investments, signaling a robust deal landscape ahead. Source: Business Standard

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