The Evening Wrap: PM Modi slams Cong., says it is indulging in ‘blind opposition’

Prime Minister Narendra Modi on Monday launched a scathing attack on the Congress, saying the party has failed to secure people’s mandate in several states for decades but is still indulging in “blind opposition”. He said the statements and the actions of the Opposition party suggest that it has resigned itself to staying out of power for 100 years. “We are firm believers in democracy. And we also believe that criticism is an essential part of democracy. But, blind opposition to everything is never the way ahead,” Modi said while replying to the debate on the president’s address to the joint sitting of Lok Sabha and Rajya Sabha. He said the Congress crossed all limits in this time of COVID-19. During the first wave, when people were following lockdown guidelines suggesting that they stay where they are, the Congress was standing at Mumbai station and scaring innocent people, he said. “The question is not about elections it is about intentions. Despite being in power for 50 years why are the people of the country repeatedly rejecting them. Wherever people have taken the right path, they did not allow you to enter again,” he said. The Prime Minister said the way India handled the pandemic is an example for the world. He ‘Azadi Ka Amrit Mahotsav’ is the perfect time to think about how India can play a global leadership role in the coming years. Post-COVID, the world is moving fast towards a new world order and India should not miss this opportunity, he said. DGCI gives nod to SII’s proposal to manufacture vaccine against omicron for test, analysis The Drugs Controller General of India (DCGI) has approved Serum Institute of India’s proposal to manufacture a vaccine against the omicron variant of coronavirus for examination, test and analysis, official sources said on Monday. “With reference to your application, please find herewith the permission to manufacture SARS-CoV-2 rS Protein (COVID-19) recombinant spike protein nanoparticle vaccine (omicron variant) for examination, test and analysis under the provisions of New Drugs and Clinical Trials Rules, 2019 to manufacture the test batches of the drug/drugs mentioned therein,” an approval order issued on February 4 stated. Director, Government and Regulatory Affairs at the SII, Prakash Kumar Singh had put in an application to the DCGI on January 6 stating the Pune-based firm, in collaboration with Novavax Inc, is working on the development of a vaccine against omicron, an official source said, adding that the SII has obtained permission and licence to manufacture SARS-CoV-2rS drug substance for examination, test and analysis. “... the new coronavirus variant ‘omicron’ has already been reported in more than 60 countries and is spreading very fast worldwide and in our country also. Our CEO, Dr Adar C Poonawalla is very concerned about protection of citizens of our country and the world at large against coronavirus and its new variants and we are relentlessly working on development of SARS-CoV-2 rS Protein (COVID-19) Recombinant Spike Nanoparticle Vaccine (omicron variant). “Development of this vaccine shall be another example of vaccine production strength of our country in line with the clarion call of our prime minister ‘Making in India for the World’ and shall further keep our country’s flag flying high globally,” Singh had stated in the application,” the source said. Sensex nosedives 1,024 points on rate hike fears; HDFC twins top drags Equity benchmark Sensex crashed 1,024 points to end below the 58,000-level on February 7 as investors fretted over policy tightening by central banks amid elevated inflation. Unabated foreign fund outflows added to the gloom, traders said. Declining for the third straight session, the 30-share BSE Sensex plummeted 1,023.63 points or 1.75% to finish at 57,621.19. Similarly, the broader NSE Nifty slumped 302.70 points or 1.73% to 17,213.60. The Sensex has now shed 1,937.14 points in three sessions, with the market capitalisation of BSE-listed firms plunging by over ₹5.82 lakh crore during the period. HDFC Bank was the top loser in the Sensex pack in Monday’s session, tumbling 3.65%, followed by L&T, Bajaj Finance, Bajaj Finserv, HDFC, Kotak Bank and Wipro. Only five counters managed to close in the green — PowerGrid, NTPC, Tata Steel, SBI and Ultratech Cement, climbing up to 1.88%. “Domestic markets are volatile ahead of the state elections, witnessing a steep fall led by FII selling and weak global cues. U.S. bourses were under pressure as strong U.S. jobs data gave rise to fears of sharper than expected Fed rate hikes, resulting in a spike in the bond yields. “The volatility in the market is likely to continue due to high chances of interest rate lift-off by the RBI given domestic inflation and policy tightening by global central banks,” said Vinod Nair, Head of Research at Geojit Financial Services. The RBI on Sunday announced postponing the meeting of the rate-setting Monetary Policy Committee (MPC) by a day in view of Maharashtra declaring a public holiday on February 7 to mourn the death of legendary singer Lata Mangeshkar. The MPC meeting was scheduled for February 7-9, 2022. With the postponement, the policy meeting will now begin on February 8 and the outcome would be announced on Thursday (February 10). Sector-wise, BSE finance, capital goods, bankex, FMCG, healthcare and telecom dropped as much as 2.30%, while utilities, power and metal mustered gains. The BSE midcap and smallcap gauges skidded up to 1.25%. Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth ₹2,267.86 crore on Friday, according to stock exchange data. BARC to resume news channels’ ratings after 17 months TV ratings body Broadcast Audience Research Council (BARC) on Monday said it will be restarting issuing data on news channels from mid-March, over 17 months after suspending it. In a statement, BARC said the Union Ministry of Information and Broadcasting has given a directive to resume the release of data for individual news channels. “BARC India is currently working towards ensuring the seamless release of individual news channel data and intends to commence release with effect from our reporting Week 10, 2022. As per our reporting cycle, this data will be released to the market on Thursday, 17th March 2022,” the statement said. The BARC had in October 2020 “temporarily suspended” the ratings on the news genre following a ‘cash for ratings’ scam allegedly involving top executives from Republic TV. The audience estimates given by BARC influence ad spends. The total size of the ad placements was pegged at ₹32,000 crore annually by the Mumbai Police, which had arrested a slew of people in connection with the case. The police alleged the ratings were being rigged by inducing the homes where the monitors were placed. The data will be released as per the Augmented Data Reporting Standards for News and Special Interest genres, BARC said, adding that clients and stakeholders have been communicated about the same. The Augmented Standards entail the reporting of audience estimates for News and Special Interest genre channels on a four-week rolling average basis, which would be released regularly every week along with the estimates for all other channels. All viewership data will be published on the same YUMI platform that all its subscribers use, the statement said. “...we believe we have a statistically sound and effective solution which helps augment the robustness of the data and reporting, which we had set out to do,” it added. Covid Watch: Numbers and Developments The number of reported coronavirus cases from India stood at 4,23,10,662 at the time of publishing this newsletter, with the death toll at 5,03,571. In Brief: Seven Army personnel are missing after a patrol team was hit by an avalanche in Kameng sector of Arunachal Pradesh on Sunday. Rescue operation is on. “Search and rescue operations are currently underway. Specialised teams have been airlifted to assist in rescue operations,” Defence PRO Tezpur said on Monday. The area has been witnessing inclement weather with heavy snowfall since the last few days. The sparsely populated, forested Kameng sector is located at heights of over 14,000 feet and borders Bhutan and China. Evening Wrap will return tomorrow. [logo] The Evening Wrap 07 FEBRUARY 2022 [The Hindu logo] Welcome to the Evening Wrap newsletter, your guide to the day’s biggest stories with concise analysis from The Hindu. [[Arrow]Open in browser]( [[Mail icon]More newsletters]( PM Modi slams Cong., says it is indulging in ‘blind opposition’ Prime Minister [Narendra Modi on Monday launched a scathing attack on the Congress]( saying the party has failed to secure people’s mandate in several states for decades but is still indulging in “blind opposition”. He said the statements and the actions of the Opposition party suggest that it has resigned itself to staying out of power for 100 years. “We are firm believers in democracy. And we also believe that criticism is an essential part of democracy. But, blind opposition to everything is never the way ahead,” Modi said while replying to the debate on the president’s address to the joint sitting of Lok Sabha and Rajya Sabha. [Prime Minister Narendra Modi addresses the Lok Sabha during the motion of thanks to the President's address, in New Delhi on February 7, 2022. Twitter/@narendramodi]  He said the Congress crossed all limits in this time of COVID-19. During the first wave, when people were following lockdown guidelines suggesting that they stay where they are, the Congress was standing at Mumbai station and scaring innocent people, he said. “The question is not about elections it is about intentions. Despite being in power for 50 years why are the people of the country repeatedly rejecting them. Wherever people have taken the right path, they did not allow you to enter again,” he said. The Prime Minister said the way India handled the pandemic is an example for the world. He ‘Azadi Ka Amrit Mahotsav’ is the perfect time to think about how India can play a global leadership role in the coming years. Post-COVID, the world is moving fast towards a new world order and India should not miss this opportunity, he said. [underlineimg] DGCI gives nod to SII’s proposal to manufacture vaccine against omicron for test, analysis The [Drugs Controller General of India (DCGI) has approved Serum Institute of India’s proposal to manufacture a vaccine]( against the omicron variant of coronavirus for examination, test and analysis, official sources said on Monday. “With reference to your application, please find herewith the permission to manufacture SARS-CoV-2 rS Protein (COVID-19) recombinant spike protein nanoparticle vaccine (omicron variant) for examination, test and analysis under the provisions of New Drugs and Clinical Trials Rules, 2019 to manufacture the test batches of the drug/drugs mentioned therein,” an approval order issued on February 4 stated. [Photo used for representation purpose only.]  Director, Government and Regulatory Affairs at the SII, Prakash Kumar Singh had put in an application to the DCGI on January 6 stating the Pune-based firm, in collaboration with Novavax Inc, is working on the development of a vaccine against omicron, an official source said, adding that the SII has obtained permission and licence to manufacture SARS-CoV-2rS drug substance for examination, test and analysis. “... the new coronavirus variant ‘omicron’ has already been reported in more than 60 countries and is spreading very fast worldwide and in our country also. Our CEO, Dr Adar C Poonawalla is very concerned about protection of citizens of our country and the world at large against coronavirus and its new variants and we are relentlessly working on development of SARS-CoV-2 rS Protein (COVID-19) Recombinant Spike Nanoparticle Vaccine (omicron variant). “Development of this vaccine shall be another example of vaccine production strength of our country in line with the clarion call of our prime minister ‘Making in India for the World’ and shall further keep our country’s flag flying high globally,” Singh had stated in the application,” the source said. [underlineimg] Sensex nosedives 1,024 points on rate hike fears; HDFC twins top drags Equity benchmark [Sensex crashed 1,024 points to end below the 58,000-level on February 7 as investors]( fretted over policy tightening by central banks amid elevated inflation. Unabated foreign fund outflows added to the gloom, traders said. Declining for the third straight session, the 30-share BSE Sensex plummeted 1,023.63 points or 1.75% to finish at 57,621.19. Similarly, the broader NSE Nifty slumped 302.70 points or 1.73% to 17,213.60. The Sensex has now shed 1,937.14 points in three sessions, with the market capitalisation of BSE-listed firms plunging by over ₹5.82 lakh crore during the period. HDFC Bank was the top loser in the Sensex pack in Monday’s session, tumbling 3.65%, followed by L&T, Bajaj Finance, Bajaj Finserv, HDFC, Kotak Bank and Wipro. Only five counters managed to close in the green — PowerGrid, NTPC, Tata Steel, SBI and Ultratech Cement, climbing up to 1.88%. “Domestic markets are volatile ahead of the state elections, witnessing a steep fall led by FII selling and weak global cues. U.S. bourses were under pressure as strong U.S. jobs data gave rise to fears of sharper than expected Fed rate hikes, resulting in a spike in the bond yields. “The volatility in the market is likely to continue due to high chances of interest rate lift-off by the RBI given domestic inflation and policy tightening by global central banks,” said Vinod Nair, Head of Research at Geojit Financial Services. The RBI on Sunday announced postponing the meeting of the rate-setting Monetary Policy Committee (MPC) by a day in view of Maharashtra declaring a public holiday on February 7 to mourn the death of legendary singer Lata Mangeshkar. The MPC meeting was scheduled for February 7-9, 2022. With the postponement, the policy meeting will now begin on February 8 and the outcome would be announced on Thursday (February 10). Sector-wise, BSE finance, capital goods, bankex, FMCG, healthcare and telecom dropped as much as 2.30%, while utilities, power and metal mustered gains. The BSE midcap and smallcap gauges skidded up to 1.25%. Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth ₹2,267.86 crore on Friday, according to stock exchange data. [underlineimg] BARC to resume news channels’ ratings after 17 months TV ratings body [Broadcast Audience Research Council (BARC) on Monday said it will be restarting issuing data on news channels]( from mid-March, over 17 months after suspending it. In a statement, BARC said the Union Ministry of Information and Broadcasting has given a directive to resume the release of data for individual news channels. “BARC India is currently working towards ensuring the seamless release of individual news channel data and intends to commence release with effect from our reporting Week 10, 2022. As per our reporting cycle, this data will be released to the market on Thursday, 17th March 2022,” the statement said. The BARC had in October 2020 “temporarily suspended” the ratings on the news genre following a ‘cash for ratings’ scam allegedly involving top executives from Republic TV. The audience estimates given by BARC influence ad spends. The total size of the ad placements was pegged at ₹32,000 crore annually by the Mumbai Police, which had arrested a slew of people in connection with the case. The police alleged the ratings were being rigged by inducing the homes where the monitors were placed. The data will be released as per the Augmented Data Reporting Standards for News and Special Interest genres, BARC said, adding that clients and stakeholders have been communicated about the same. The Augmented Standards entail the reporting of audience estimates for News and Special Interest genre channels on a four-week rolling average basis, which would be released regularly every week along with the estimates for all other channels. All viewership data will be published on the same YUMI platform that all its subscribers use, the statement said. “...we believe we have a statistically sound and effective solution which helps augment the robustness of the data and reporting, which we had set out to do,” it added. [underlineimg] Covid Watch: Numbers and Developments The [number of reported coronavirus cases from India]( stood at 4,23,10,662 at the time of publishing this newsletter, with the death toll at 5,03,571. [underlineimg] In Brief: Seven Army personnel are missing after a patrol team was hit by an avalanche in Kameng sector of Arunachal Pradesh on Sunday. Rescue operation is on. “Search and rescue operations are currently underway. Specialised teams have been airlifted to assist in rescue operations,” Defence PRO Tezpur said on Monday. The area has been witnessing inclement weather with heavy snowfall since the last few days. The sparsely populated, forested Kameng sector is located at heights of over 14,000 feet and borders Bhutan and China. [underlineimg] Evening Wrap will return tomorrow. Today's Top Picks [[Congress chooses Channi | Talking Politics with Nistula Hebbar] Congress chooses Channi | Talking Politics with Nistula Hebbar]( [[COVID-19 cases down, Assam to reopen completely from Feb. 15] COVID-19 cases down, Assam to reopen completely from Feb. 15]( [[Basai wetlands: An oasis in the heart of a concrete jungle] Basai wetlands: An oasis in the heart of a concrete jungle]( [[Vocalist Pandit Damodar Hota passes away] Vocalist Pandit Damodar Hota passes away]( Copyright @ 2022, THG PUBLISHING PVT LTD. If you are facing any trouble in viewing this newsletter, please [try here]( If you do not wish to receive such emails [go here](