Business
Union Budget: All key demands of Telangana ignored
The Union Budget 2022-23 came as a big shock for Telangana as all its demands for additional funds and new projects were ignored.
The budget speech of Finance Minister Nirmala Sitharaman also had no mention of the commitments made to the state under Andhra Pradesh Reorganisation Act 2014.
The state had high hopes from the budget and it had demanded allocation of Rs 60,000 crore for various projects. It was for this reason the budget evoked angry reaction from Chief Minister K. Chandrasekhar Rao, who termed it as ‘golmal’ and ‘useless’ budget.
Telangana’s long pending demand for national status to either Kaleshwaram or Palamuru-Rangareddy lift irrigation projects was again ignored by the Centre.
As per the budget estimates, Telangana will get Rs 17,165 crore during 2022-23 as its share in the central taxes. This is Rs 3,175.85 crore higher than the 2021-22 budget estimates and Rs 1,240.14 crore higher than the revised estimates.
However, there was no allocation to the state in addition to the state’s share in central taxes, funds for local bodies as per the recommendation of Finance Commission and allocation for centrally sponsored schemes.
With the Centre imposing a huge cut of Rs 25,000 crore on allocation of MGNREGS across the country, the flow of funds to the state under the rural employment guarantee scheme is likely to be badly hit.
Telangana has 1.19 crore workers registered under the scheme and they are provided work for 100 days in a year with minimum daily wages of Rs 237. With the cut in allocation the state may be forced to cut the number of workers or work days under the scheme. For the current financial year, the state has received Rs 3,053 crore under the central scheme.
The Centre also did not take the recommendation of 15th Finance Commission to allocate Rs 2,362 crore for state-specific grants for four years from 2022-23 into consideration. As per this recommendation, the state was expecting Rs 471 crore every year.
The state has also not received arrears towards the special assistance for development of backward areas under AP Reorganisation Act. For the last three years, the state government had been demanding release of Rs 24,205 crore as per the recommendation of NITI Aayog.
Similarly, the demand to allocate funds for Mission Bhagiratha and Mission Kakatiya as per the recommendation of NITI Aayog was once again ignored. Ahead of the budget, state finance minister T. Harish Rao had written to union finance minister Nirmala Sitharaman seeking Rs 5,205 crore for Mission Kakatiya, Rs 19,000 crore for Mission Bhagiratha as recommended by NITI Aayog.
Under Mission Kakatiya, the government has taken up revival of irrigation tanks and while Mission Bhagiratha is aimed at supplying drinking water to every house by laying pipelines.
Though the Telangana government has been urging the Centre for last seven years to fulfill the commitments made in AP Reorganisation Act, 2014, the same were ignored once again.
Under the Act, the Centre had promised railway coach factory at Kazipet, a tribal university and a steel factory at Bayyaram.
Telangana’s repeated demand for revival of Information Technology and Investment Region (ITIR) was once again ignored. In 2014, the then Congress-led UPA government had sanctioned ITIR for Hyderabad but after BJP-led NDA came to power, the project was shelved.
The state had also demanded setting up of IIM, Navodaya Vidayalayas, six industrial corridors, funds for Kakatiya mega textile park, Hyderabad Pharma City and various other urban infrastructure projects.
The Telangana Rashtra Samithi (TRS) government has been demanding that a progressive state like Telangana should be encouraged with allocation of funds and projects. The party leaders said once again the state was given a raw deal.
Ahead of the budget, Telangana ministers wrote a series of letters to Sitharaman seeking funds and projects for the state.
Minister for industries, information technology, municipal administration and urban development, K.T. Rama Rao, finance minister T. Harish Rao and tribal welfare minister Satyavathi Rathod wrote to Sitharaman and other union ministers seeking nearly Rs 60,000 crore to Telangana in the budget.
Rama Rao had sought Rs 7,800 crore for urban development, Rs 954 crore for textiles and handlooms, R. 14,000 crore for Hyderabad Pharma City.
State Planning Commission vice-chairman B. Vinod Kumar wrote to the Railway Minister seeking completion of pending railway projects and announcement of new railway lines for Telangana in the budget.
Business
Air India passenger held over hoax hijack threat on Kolkata-Mumbai flight

A passenger was apprehended and handed over to the airport police after allegedly being linked to a hoax hijack threat targeting an Air India flight from Kolkata to Mumbai, officials said on Thursday.
According to the Airports Authority of India (AAI), the action followed an incident on Wednesday involving Air India flight AI 2772 after a handwritten threat note was found inside the aircraft’s lavatory shortly before its scheduled departure.
The note, which warned that the aircraft would be hijacked at 11.10 a.m., was discovered by a cabin crew member at around 10.37 a.m. The alert immediately triggered standard security protocols, prompting authorities to initiate a comprehensive security response.
As part of the precautionary measures, all 105 passengers on board were deboarded and the aircraft was moved to an isolation bay for detailed inspection and security checks. Multiple security agencies conducted mandatory screening procedures to ensure the safety of passengers and crew.
The flight, originally scheduled to depart at around 10.30 a.m., remained grounded for several hours while security personnel completed the required checks. After authorities found no credible threat, the warning was declared a hoax.
The aircraft was subsequently cleared for operations and departed for Mumbai at 5.38 p.m.
AAI said the passenger linked to the incident was later handed over to the Netaji Subhash Chandra Bose International Airport Police Station for further investigation. Authorities have launched a probe into the matter and are examining the circumstances surrounding the threat note.
Meanwhile, last month, an Air India flight from Frankfurt to Delhi made an emergency landing in Jaipur after reportedly transmitting Squawk 7500, the international code used to indicate a hijacking.
Reports claim that the alert was received by Ahmedabad Air Traffic Control (ATC), following which the aircraft landed safely in Jaipur. Further details about the circumstances that triggered the alert were not immediately available.
Squawk 7500 is an internationally recognised aviation transponder code that pilots use to discreetly alert air traffic control to a hijacking or unlawful interference with an aircraft.
Business
Sensex, Nifty trade higher in early deals amid decline in crude oil prices

Domestic equity benchmarks traded higher in early deals on Thursday after crude oil prices declined up to 1 per cent.
Sensex touched an intraday high of 82,057.39, up 0.38 per cent or 316 points in the morning trade. Nifty was up 0.34 per cent or 86 points at 25,342.
Earlier in the day, the headline indices had opened lower, tracking cautious sentiment across Asian markets.
Sector-wise, Nifty IT was the biggest drag, falling over 1 per cent. Nifty Auto and Nifty Healthcare also declined up to almost 1 per cent.
On the gainers’ side, Nifty PSU Bank rose 0.23 per cent, Nifty Media was up 0.2 per cent and Nifty Consumer Durables added 0.14 per cent.
According to market experts, the Nifty rally of 9.55 per cent in seven trading sessions so far in November is being led primarily by aggressive buying by foreign institutional investors (FIIs).
“The tug of war between FIIs and domestic institutional investors (DIIs) till November saw FIIs on the sell side and DIIs on the buy side,” they said.
Now the positions have been completely reversed, with FIIs turning aggressive buyers and DIIs turning consistent sellers. This FIIs vs DIIs position will set the market trend in the near term, the experts said.
However, FIIs have already invested Rs 65,735 crore in Indian equities so far in November.
“This trend is likely to continue and has the potential to reach an all-time high number. Impressive earnings growth as evidenced by good Q2 results and macro relief from lower crude prices will support the rally. DIIs may continue profit booking, putting brakes on the rally,” the experts said.
Apart from that, an important data point to watch on Thursday will be the October CPI inflation number.
In commodities, Brent crude, the international oil benchmark, traded more than 1 per cent or $1 lower at $91.51 per barrel. US West Texas Intermediate (WTI) crude also slipped nearly 1 per cent to $85.41 per barrel.
Asian markets traded mixed on Thursday as investors remained cautious amid fresh volatility in Nvidia, the chipmaker at the heart of this year’s AI-driven rally.
Overnight, US markets closed higher on Wednesday as concerns over heavy artificial intelligence spending eased.
Business
India seen as credible broker for Russia-Ukraine peace talks: Report

India is seen as a credible country that can help in the peace talks between Russia and Ukraine because it is one of few major powers with working relationships with both countries, according to a report in Al Jazeera.
It cited a foreign affairs expert as saying that India’s strategic autonomy puts it in a position to push for peace because New Delhi is “friends with both” sides.
India has also been even-handed. In July, it summoned Moscow’s charge d’affaires to condemn a Russian strike on a merchant vessel that killed 10 people, including four Indian crew members. Days later, it summoned Ukraine’s ambassador over an Indian seafarer killed in a Ukrainian drone strike on the MV Omorfi, the report observes.
It highlights that India is also an importer of goods from both Russia and Ukraine. In the 2025-26, India imported 1.46 million tonnes of sunflower oil from Russia and 443,000 tonnes from Ukraine, according to the Indian Solvent Extractors’ Association (SEA), alongside large volumes of Russian crude.
The article cites Maximilian Hess, a fellow at the Foreign Policy Research Institute, as saying that Zelenskyy approached India “because they have leverage over Moscow, and they are still one of the few major buyers of its oil.”
He added that a large amount of Russian money sits in the Indian financial system, which Moscow wants to keep access to.
Before Russia’s full-scale invasion in 2022, about a third of the world’s grain exports passed through the Black Sea, with Ukraine supplying a tenth of global wheat exports and 15 percent of maize. Disruption hits food-importing countries hardest, particularly in Africa and parts of Asia, the report states.
Indian officials point out that India as a leading voice of the Global South is keen that food exports to these developing nations resume to prevent adequate supplies and controlling rising inflation.
Both Ukrainian President Volodymyr Zelensky and Prime Minister Narendra Modi have discussed the issue of opening the food corridor over a phone call.
“India is ready to mediate in establishing food corridors, and we are counting on these efforts to continue,” Zelenskyy posted on X after call. The leaders discussed Russia’s blocking of grain exports in the Black Sea, he said.
PM Modi said India was ready to contribute “in every possible way” towards a peaceful resolution of the Russia-Ukraine conflict.
External Affairs Minister S. Jaishankar, during a visit to Kyiv in September, spoke of a potential pause on strikes against Black Sea shipping and energy infrastructure. On October 4, he said India was talking to both Russia and Ukraine about shipping safety, grain and energy exports and “non-attack possibilities”.
Ukrainian Foreign Minister Andrii Sybiha earlier called India’s proposal “the broadest”, because it covers both the Black Sea and energy infrastructure. The US plan offers only a halt to strikes on energy facilities.
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