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Tuesday, April 28, 2026 3:58 AM

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Centre Urges Four States to Implement RTE, Reserve 25% Seats in Private Unaided Schools

The Centre has urged state governments to enforce the Right to Education (RTE) Act, which mandates reserving 25% of seats in private unaided schools for children from economically weaker sections. Minister of State for Education Jayant Chaudhary informed the Rajya Sabha that states like Punjab, Kerala, Telangana, and West Bengal have not yet implemented this provision. During the Question Hour, Education Minister Dharmendra Pradhan emphasized that education, being a concurrent subject, requires joint efforts from both the Centre and states to ensure school education up to class 12 for all children. He noted that while there is nearly 100% enrollment in class 1 due to collective efforts, the number of students decreases in higher classes, which depends on the proactive measures taken by state governments. Pradhan highlighted that the RTE Act, along with the National Education Policy (NEP), aims to ensure inclusive education for all children until class 12. He acknowledged the previous government for framing the RTE, which includes a significant provision for reserving 25% of seats for underprivileged kids. He appealed to the non-compliant states to implement this provision to achieve universal education. AAP’s Vikramjit Singh Sahney inquired about the number of children covered under RTE and the government’s actions to regulate higher education fees. Chaudhary responded that the RTE, passed in 2009, prioritizes inclusive education for children from poor families and has provisions for reintegrating those who missed formal education. He noted that the Punjab government, under AAP, cited a sufficient number of government schools as a reason for not implementing the 25% quota. Sahney also raised concerns about the high cost of education from kindergarten to postgraduate levels. Chaudhary pointed out that while education is a concurrent subject, states have a significant role in fee regulation. He mentioned that several states have formulated policies to regulate fees and that investments in education have increased, with the Centre’s budget for education doubling over the last decade. AAP’s Swati Maliwal highlighted the exploitation by private schools forcing parents to buy expensive uniforms and books. Pradhan reiterated that education is primarily a state subject, and state governments should take stringent actions against such profiteering, with the Centre’s support.

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Muhammad Yunus to Take Oath as Interim Government Head

Nobel laureate Muhammad Yunus is set to be sworn in as the head of Bangladesh’s interim government today, August 8, 2024, at 8 p.m. local time. This development follows the resignation and flight of former Prime Minister Sheikh Hasina amid violent anti-government protests led by the Students Against Discrimination movement. Army Chief Gen Waker-Uz-Zaman announced the formation of the interim government and stated that an advisory council comprising 15 members will be established to assist Yunus. He assured that the armed forces would provide all necessary support to the 84-year-old Yunus, who is currently en route to Dhaka from Paris after attending the Olympics. Yunus made a public appeal for calm and non-violence, urging the populace to embrace this “new victory” peacefully. “Refrain from all kinds of violence,” he stated, emphasizing the need for unity and peace to rebuild the nation. Khaleda Zia, chairperson of the Bangladesh Nationalist Party (BNP) and a former prime minister who was recently freed from house arrest, echoed Yunus’ sentiments. She stressed the importance of “love and peace” over “anger” and “revenge” in the effort to rebuild Bangladesh. Gen Zaman’s announcement came as authorities worked to restore order following the upheaval that led to Sheikh Hasina’s departure. The general emphasized the military’s role in supporting the new interim administration and ensuring a smooth transition of power. Yunus’ return to Bangladesh marks a pivotal moment in the country’s political landscape. Upon his arrival at Dhaka’s main international airport, he will be welcomed by military officials and will then proceed to take the oath of office. The international community is watching closely as Bangladesh embarks on this significant transition under Yunus’ leadership.

Muhammad Yunus to Take Oath as Interim Government Head Read More »

Orlando Health to Acquire 70% Stake in Alabama’s Brookwood Baptist Health

Orlando Health has finalized a $910 million agreement to acquire a 70% stake in Tenet Healthcare’s Brookwood Baptist Health system in Alabama. This significant move will grant Orlando Health control over Brookwood Baptist Health’s five hospitals and affiliated physician practices in the Birmingham area. The deal encompasses Brookwood Baptist Medical Center, Princeton Baptist Medical Center, Walker Baptist Medical Center, Shelby Baptist Medical Center, and Citizens Baptist Medical Center. Following the transaction, the system will be rebranded as Baptist Health, with Orlando Health taking on management of daily operations. Thibaut van Marcke, Senior Vice President of Orlando Health Southeast Region and President of Orlando Health Dr. P. Phillips Hospital, will oversee the integration in Alabama. David Strong, CEO of Orlando Health, expressed optimism about the merger, stating, “We believe this is a new day in health care for our organizations and look forward to making Brookwood Baptist the best health care system in Alabama.” Brookwood Baptist Health operates over 1,700 beds, 70 primary and specialty care clinics, approximately 1,500 affiliated physicians, and employs over 7,300 staff. Orlando Health, based in Orlando, is a not-for-profit system with assets exceeding $10.5 billion, encompassing around 450 locations, 3,400 beds, and 17 hospitals. The partnership aims to enhance healthcare services in Alabama, leveraging Orlando Health’s extensive resources and management expertise to improve patient care in the region. Reference via Health Florida  

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No Relief for Infosys: Indian Government Maintains ₹32,000-Crore Tax Demand Amidst Canadian Fine

Infosys is facing a substantial tax challenge from the Indian government, which has refused to reduce a ₹32,000-crore ($4 billion) tax demand related to GST regulations. The demand, issued last month, pertains to services received from Infosys’s overseas branches between July 2017 and the fiscal year 2021-22. This amount represents about 85% of Infosys’s revenue for the quarter ending June 30. Infosys has requested a ten-day extension to respond after recent discussions with Indian Income Tax department officials. Despite this, the Indian authorities have indicated they will not ease the demand. In a recent update, Infosys confirmed that the tax demand for the 2017-18 financial year, totaling ₹38.98 billion, has been resolved. The company maintains it has met all tax obligations and adheres to both central and state regulations. In addition to this domestic issue, Infosys has also faced scrutiny from Canada. In May 2024, the Canadian government imposed a fine of CAD 134,822.38 (₹82 lakh) on Infosys for underpaying the employee health tax for the fiscal year ending December 31, 2020. Infosys disclosed this penalty in a regulatory filing received from Canada’s Finance Ministry on May 9. The broader IT sector has also been impacted, with significant declines in stock prices for other major players like Tata Consultancy Services and Satyam Computer Services. This downturn follows Infosys’s stock performance, which saw profit-taking after meeting market expectations and experiencing a prior price surge. Reference by Mint

No Relief for Infosys: Indian Government Maintains ₹32,000-Crore Tax Demand Amidst Canadian Fine Read More »

Citius Pharmaceuticals Announces TenX Keane Shareholder Approval of Merger with Citius Oncology, Inc.

Citius Pharmaceuticals, Inc. (Citius Pharma) has announced that shareholders of TenX Keane Acquisition (TenX) have approved the merger with Citius Pharma’s oncology subsidiary. The new public company will be named Citius Oncology, Inc. The merger, approved by the boards of both companies, is expected to close soon, pending certain conditions. This merger aims to enhance Citius Oncology’s access to public equity markets, support the commercialization of LYMPHIR, if approved, and explore additional oncology opportunities. Leonard Mazur, Chairman and CEO of Citius Pharma, expressed optimism about the merger’s potential to unlock value in their oncology assets. The agreement involves TenX acquiring Citius Pharma’s oncology subsidiary, converting shares into common stock of Citius Oncology. Upon closing, Citius Pharma will hold about 65.6 million shares of Citius Oncology, representing roughly 90% ownership. Additionally, Citius Pharma will contribute $10 million in cash, with TenX’s remaining trust account cash aiding Citius Oncology’s working capital. The transaction is detailed in the merger agreement, filed in a Current Report on Form 8-K with the SEC. Advisors for the transaction include Maxim Group LLC for Citius Pharma, Newbridge Securities Corporation for TenX, and legal advisors Wyrick Robbins Yates & Ponton LLP for Citius Pharma and The Crone Law Group P.C. for TenX. Citius Oncology will focus on developing and commercializing novel oncology therapies, with LYMPHIR aiming for FDA approval to treat cutaneous T-cell lymphoma (CTCL). The market for LYMPHIR is estimated to exceed $400 million, with robust intellectual property protections supporting its competitive positioning. If approved, LYMPHIR could be available by Q4 2024.

Citius Pharmaceuticals Announces TenX Keane Shareholder Approval of Merger with Citius Oncology, Inc. Read More »

Lok Sabha Passes Bill to Allow Government Expenditure for FY 2024-25

The Lok Sabha on Monday approved about ₹140 lakh crore in expenditure demands by different ministries of the Central Government, completing two-thirds of the legislative approvals needed for the full Budget of 2024–25. The lower house, which last week debated the Budget, approved demands for grants as well as the Appropriation (No 2) Bill 2024, which authorizes the government to use certain sums out of the Consolidated Fund of India for the services of the financial year 2024-25. This followed a guillotine being applied after a discussion on grants for four ministries — Railways, Education, Health, and Fisheries. The Lok Sabha will now discuss the Finance Bill (No 2), 2024, which essentially contains the tax proposals in Finance Minister Nirmala Sitharaman’s Budget for 2024–25. The Rajya Sabha is also simultaneously discussing demands for grants for four other ministries — Agriculture, New and Renewable Energy, Cooperation, Housing, and Urban Affairs. It will also discuss the Finance Bill, but as per the Constitution, it can only return such bills to the Lower House. The budgetary exercise will be complete after the passage of the Finance Bill (No 2), 2024, by the Lok Sabha. While the guillotine is literally a large, weighted blade used for executing a condemned person, in legislative parlance, it means to bunch together and fast-track the passage of financial business. It is a fairly common procedural exercise in the Lok Sabha during the Budget Session. Reference from Business Standard

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Heatstroke Took 374 Lives, Over 67,000 Cases Till July 27: Health Ministry

Article

India has reported 374 deaths and 67,637 cases of suspected heatstroke from March 1 to July 27 this year, according to Minister of State for Health Anupriya Patel. The alarming figures were disclosed in the Lok Sabha on Friday. The latest data reveals a significant increase from the earlier estimates provided by the Ministry of Health, which reported 110 deaths and 42,000 cases by June 18. The majority of these incidents occurred in rural areas, where strenuous outdoor work associated with agriculture and poor health infrastructure exacerbated the impact of the heatwave. Uttar Pradesh was the worst-hit state, recording 52 deaths. Bihar followed with 37 fatalities, while Odisha and Delhi reported 26 and 25 deaths respectively. These statistics were compiled under the National Heat-Related Illness and Death Surveillance by the National Centre for Disease Control (NCDC). Government Response and Measures The Integrated Health Information Portal has been receiving data on heatstroke cases and deaths from States and Union Territories since 2023, as noted by Minister Patel. State and UT health departments get yearly warnings from the Ministry of Health and Family Welfare (MoHFW) to put awareness, readiness, and response plans into place. The Union Health Ministry’s Secretary communicated with the chief secretaries of all states and UTs on February 29 in order to release this year’s advise. The warning included steps to improve community awareness of heat-related diseases and to bolster health sector readiness. Record-Breaking Temperatures and Weather Anomalies With a blistering 47 degrees Celsius, June 2024 witnessed the hottest temperature recorded in the month in a decade. The hottest temperatures ever recorded in June 2023 were 41.8 degrees Celsius, 44.2 degrees Celsius in 2022, and 43 degrees Celsius in 2021. This is a considerable rise above the prior records. Furthermore, July was the second warmest month overall in India since 1901 and the highest nighttime temperature ever recorded in the country. Significant flooding resulted from the abnormally high rains that followed the record temperatures in various states, including Gujarat, Kerala, and Uttar Pradesh. It was the hottest July on record for both mean and lowest temperatures in the east and northeast of India. The terrible heatwave has made it clear how urgently better infrastructure and readiness are needed to deal with extreme weather, especially in rural regions. The growing frequency and intensity of these occurrences highlight the significance of long-term policies to address climate change and its implications on public health, even if the government’s preemptive actions and advisories play a key role in lessening the impact of such heatwaves. Reference taken from the Hindu

Heatstroke Took 374 Lives, Over 67,000 Cases Till July 27: Health Ministry Read More »

Empty Desks at This Over ₹12 Crore Worth Govt Polytechnic in Nagaland

Nagaland has nine government polytechnics offering a range of trade-specific diploma courses, but one institution, Government Polytechnic Peren (GPP), has had zero enrollment for three consecutive years. Established in 2021, GPP offers short-term certificate and diploma programs in interior design, but there have been no takers since its inception. Despite having all necessary facilities, including faculty and staff, the institution struggles with student enrollment. GPP consists of four blocks, including a boys’ hostel, academic block, principal’s quarters, and two staff quarters. However, the lack of a girls’ hostel and poor road conditions from nearby Jalukie town hinder accessibility. An anonymous source revealed that the institution faces issues such as inadequate water supply, poor electricity connectivity until recently, and lack of internet services. The staff, about 15 including the principal and faculty, often visit the campus on a rotational basis for meetings and maintenance. This year, three students were selected through the diploma entrance exam for the interior designing program, but none enrolled. Officials attribute the lack of interest to the institution’s location and inadequate prior survey of the course’s demand. GPP was established with central financial assistance to state governments for setting up new polytechnics in unserved and underserved districts under the scheme of sub-mission on polytechnics. The scheme provided ₹12.3 crore per polytechnic for capital costs, with the state government responsible for providing the land and bearing recurring expenses. Despite the challenges, professional interior designers see potential for growth in the field in Nagaland. Asen Ao, a Dimapur-based interior designer, and Soren Odyuo, a Kohima-based interior and landscape designer, believe the scope for interior design is expanding in the state and encourage young aspirants to pursue it as a viable career alternative. GPP is situated in New Peren, around 15 km from Jalukie town and 30 km from Old Peren town, with the nearest airport and railway station in Dimapur, a two-hour drive away.

Empty Desks at This Over ₹12 Crore Worth Govt Polytechnic in Nagaland Read More »

India Leads Asia-Pacific Region’s M&A Deals in Q1 2024: S&P Global

India showed impressive numbers in merger and acquisition (M&A) deals in the Asia-Pacific region’s financial sector in the first quarter (Q1) of 2024, with 27 deals closed. This outpaced other countries in the region, such as Japan with 13 deals, Australia with 12, South Korea with 11, and Mainland China with nine, according to S&P Global Market Intelligence. The number of deals in India in Q1 2024 was one more than the previous year, while other countries saw a decline or stagnation in deal volumes. Overall, deal volumes in the region fell by 14% year-on-year, ending March 31, 2024, due to economic uncertainties, higher funding costs, and increased volatility from geopolitical risks. Leigh Howard, Chief Executive Officer of AsiaLink Business, highlighted India as a bright spot with a strong forecast and resilience, suggesting a reasonable expectation for continued robust deal-making. China experienced a significant drop in deal numbers, falling to nine in Q1 2024 from 24 the previous year. Australia saw a decrease to 12 deals from 26 a year ago. Four of the top 10 deals in value were closed in India, with a combined deal value of $845.79 million. The largest was Sumitomo Mitsui Financial Group’s (SMFG) acquisition of SMFG India Credit for $700 million. Other notable deals included Piramal’s acquisition of Annapurna Finance, Rajiv Rattan’s purchase of a stake from Lonestar Americas in RattanIndia Finance, and Muthoot Finance’s investment in Belstar Microfinance.

India Leads Asia-Pacific Region’s M&A Deals in Q1 2024: S&P Global Read More »

Crescent Finalises $2.1 Billion Acquisition of SilverBow Resources

US oil company Crescent Energy has completed its $2.1 billion acquisition of SilverBow Resources, becoming the second-largest operator in the Eagle Ford. After integration, the combined entity’s production capacity is expected to be around 250,000 barrels of oil equivalent per day (boepd). The cash and stock deal, announced in May this year, concluded ahead of schedule. This acquisition enhances Crescent’s status as a leading mid-cap exploration and production company with a diverse, high-quality asset portfolio. The merger is expected to yield substantial free cash flow and has been structured with a disciplined capital allocation framework. Crescent noted that this move will facilitate further growth through accretive, returns-driven mergers and acquisitions. Following the integration, the combined entity’s production capacity is estimated to reach around 250,000 boepd. SilverBow shareholders have received approximately $358 million in total cash consideration, with Crescent issuing around 52 million shares of Class A common stock to cover the non-cash portion of the transaction. Post-acquisition, former SilverBow shareholders now hold about 23% of the combined company on a fully diluted basis. Crescent CEO David Rockecharlie said, “Today is an exciting day for Crescent. We are well positioned to create value, and I am grateful for the trust from our original Crescent and new SilverBow shareholders, each of whom voted with an overwhelming majority to approve our merger and to take equity consideration and participate in the go-forward company.” “Through disciplined investing and operations, we have delivered profitable growth, tripling the size of our business over the last four years. We have created a premier growth through acquisition platform by executing on our cash flow and returns-oriented strategy. Today, we are focused on rapidly integrating our new assets and personnel and continuing to deliver on the significant synergies we’ve identified to strengthen returns.” Crescent has announced plans to provide pro forma guidance for the second half of 2024 to reflect the acquisition’s impact. Additionally, the company is set to issue its financial and operating results for the second quarter of 2024 after the market closes on August 5, 2024. Source: Offshore Technology

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