1. PM Modi speech in Rajya Sabha amid Opposition continues loud sloganeering
2. Amit Shah, Adhir face-off over demand for discussion on China
3. 1000 kg of explosives recovered in Dausa ahead of PM Modi’s visit
4. Ajit Doval meets Vladimir Putin, both agree to keep strategic ties going
5. India discovers huge deposits of Lithium critical for electric mobility

What Else

6. PM Modi will inaugurate Uttar Pradesh Global Investors Summit 2023 in Lucknow today
7. Indian Coast Guard and DRI recover 17.7 kg gold worth $1.2mn from mid-sea
8. Clashes break out between Chandigarh police and protesters at Mohali-Chandigarh border
9. 225k Indians renounced citizenship in 2022: Govt
10. Probe reveals overseas short-selling behind $100 billion rout in Adani shares
11. Despite all efforts, Pakistan fails to woo IMF for staff-level pact
12. Pakistan: India seeks changes to Indus Waters Treaty
13. Chinese Balloon Had Tools to Collect Electronic Communications, U.S. Says
14. U.S., UK and Australia carry out China-focused air drills

PM Modi speech in Rajya Sabha amid Opposition continues loud sloganeering

• PM Modi on Thu replied to the President’s address in Rajya Sabha amid loud sloganeering by Opposition parties in the ongoing Budget Session of the Parliament.
• The Opposition MPs raised ‘Modi-Adani bhai bhai’ slogans as the PM spoke.
• Opposition MPs raised a slogan demanding the formation of JPC on the Adani issue.
• A ruckus was created in Rajya Sabha.
• He said the more these MPs throw ‘keechad’, the better the lotus will bloom.
• The PM said that the country carefully hears what is said in this House, adding that the language and the behavior of some MPs in the House is disappointing for India.
• PM slammed Congress and said that their priorities and plans were different.
• As a result, there was never a permanent solution to any problem.
• He said Congress created hurdles in development, and India lost 6 decades while smaller countries progressed. (here)

Amit Shah, Adhir face-off over demand for discussion on China

• Home Minister Shah said that the Nehru-led Congress govt in 1962, allowed a debate in the house on the India-China war after India lost “thousands of hectares of land” while the situation of now is not comparable to that time.
• He was intervening during the speech by the Leader of the Congress in the Lok Sabha, AR Chowdhary, who demanded a discussion on the border issue.
• This had been consistently denied by the govt, after the border face-off between the two countries in 2020.
• Chowdhary He said that in 1962, former PM Jawaharlal Nehru had allowed a discussion in the House, at the request of then Jan Sangh MP Atal Behari Vajpayee.
• At this, Mr. Shah said, “It was after losing thousands of hectares of land that the discussion was allowed. What are you talking about?”
• “But, to speak on such matters without authentic facts is irresponsible” Shah (here)

1000 kg of explosives recovered in Dausa ahead of PM Modi’s visit

• Days ahead of PM Modi’s visit to Dausa, a huge amount of explosives have been recovered from the area.
• PM Modi will visit Dausa on Feb 12 to inaugurate the Dausa-Sohna stretch of the Delhi-Mumbai Expressway.
• Officials from Sadar police station recovered about 1000 kg of explosives from Bhankri Road. Rajesh Meena, a resident of Dausa, was arrested with the explosives.
• Electric detonators, explosive shells, and connecting wires were also recovered.
• Besides, 65 detonators, 360 explosive pellets, and 13 connecting wires were recovered. (here)

Ajit Doval meets Vladimir Putin, both agree to keep strategic ties going

• National Security Advisor Ajit Doval met President Vladimir Putin in Moscow and they agreed to continue work towards implementing the India-Russia strategic partnership.
• This is the NSA’s second visit since the Ukraine war began — he was there in Aug 2022.
• The Kremlin said President Putin met with heads of delegations taking part in the multilateral consultations on Afghanistan.
• On Wed, Doval attended the 5^th multilateral meeting of Security Secretaries Councils/ NSAs on Afghanistan which was hosted by Russia. (here)
• [What is significant here is the meet itself, because what is underlined is nothing new]

India discovers huge deposits of Lithium critical for electric mobility

• The mining ministry announced on Thu that the country has found massive 5.9 million tonnes of Lithium deposits in the country’s north in Jammu and Kashmir.
• Geological Survey of India for the first time established Lithium inferred resources (G3) of 5.9 million tonnes in the Salal-Haimana area of the Reasi, J&K.
• The Ministry further stated that 51 mineral blocks including Lithium and Gold were handed over to respective state govts.
• Out of the 51 mineral blocks, 5 blocks are of gold other potash, molybdenum, and base metals spread across J&K, Andhra, Chhattisgarh, Gujarat, Jharkhand, Karnataka, MP, Odisha, Rajasthan, Tamil Nadu, and Telangana. (here)

PM Modi will inaugurate Uttar Pradesh Global Investors Summit 2023 in Lucknow today

• PM Modi will flag off two Vande Bharat trains
• Mumbai-Solapur and Mumbai-Sainagar Shirdi, at Chhatrapati Shivaji Maharaj Terminus in Mumbai, later today.
• He will also inaugurate two road projects – the Santacruz Chembur Link Road and the Kurar underpass project.

Indian Coast Guard and DRI recover 17.7 kg gold worth $1.2mn from mid-sea

• A joint operation between the Indian Coast Guard and the Directorate of Revenue Intel recovered 17.7 kg of gold, via a diving operation in the waters near the Indo-Lanka Maritime boundary.
• According to the authorities, the action was carried out based on intelligence inputs.
• Indian Coast Guard Station in Tamil Nadu, deployed Interceptor Boat C-432 on Feb 7, for two days, to maintain surveillance in the Gulf of Mannar on Feb 8, the boat followed and intercepted a suspicious boat that was escaping at a high speed.
• After onboarding and rummaging the vessel, the suspected contraband was not found. (here)

Clashes break out between Chandigarh police and protesters demanding release of ‘Bandi Singhs’ at Mohali-Chandigarh border

• A high-voltage clash broke out on Wed between Chandigarh Police and protesters seeking the release of ‘Bandi Singhs’ at the Chandigarh-Mohali border.
• Protesters were moving toward Punjab CM Bhagwant Mann’s house and police had to use water cannons to stop them.
• Several chowks across Mohali were blocked by protesting farmers. Several vehicles were vandalized too.
• Protesters, which include religious leaders, and farmer groups, were seen making angry speeches from the stage at the protest site.
• At least one bus, 3 police gypsies, a bike, and a water tank were vandalized in the clash.
• Youths pelted stones at the windshields of the vehicles and deflated tyres.
• Bricks and stones were seen littered on the road after the incident. (here)

225k Indians renounced citizenship in 2022: Govt

• A total of 225,620 Indians renounced their citizenship in 2022, the highest in the past 12 years, and 1.66 million have given up their nationality since 2011- Govt in RS.
• The figures were given by external affairs minister S Jaishankar in a written reply to a question from lawmaker Narain Dass Gupta on Thu in Rajya Sabha.
• For the period from 2011 to 2019, the annual figure ranged between 120,000 and 144,000, before falling to 85,256 in 2020 (pandemic).
• In 2021, the figure almost doubled to 163,370, before rising again to 225,620 in 2022, the minister said in his written reply.
• Citing information available with the external affairs ministry, Jaishankar said 122,819 Indians renounced their citizenship in 2011, 120,923 in 2012, 131,405 in 2013, 129,328 in 2014, 131,489 in 2015, 141,603 in 2016, 133,049 in 2017, 134,561 in 2018, 144,017 in 2019, 85,256 in 2020, 163,370 in 2021 and 225,620 in 2022. (here)

Probe reveals overseas short-selling behind $100 billion rout in Adani shares

• An initial probe by govt agencies has revealed that the bear cartel targeted Adani companies through the use of structured product derivatives – potent stock market instruments, tailor-made by foreign brokers for large clients in offshore jurisdictions.
• These SPDs are similar to the controversial participatory notes in many ways since the identity of the actual clients stays hidden unless the regulators lift the veil.
• As per India’s tax and SEBI laws, short selling of domestic stocks outside the country’s jurisdiction is illegal unless they are listed on any exchange.
• The probe reveals that billions of dollars worth of trading took place in Adani group stocks outside the country, which had a domino effect on India-listed shares as the volatility increased.
• The biggest clue of the overseas short selling in Adani stocks came from Hindenburg, which claimed to have targeted the group citing fraud and sky-high valuations.
• On Jan 24, Hindenburg revealed: “held short positions in Adani companies through bonds and non-Indian-traded derivative instruments.”
• While Adani bonds are listed on the US exchange, Hindenburg’s reference to the ‘non-Indian-traded derivatives’ raised the alarm for Indian regulators.
• Domestic angle: The probe also shows that New York-based Hindenburg is not a registered research firm with any market regulator.
• In the report, Hindenburg claims to have received information on SEBI investigations into Adani stocks via the right to information (RTI) application.
• But SEBI never shares any investigation-related info via RTI. (here)

[NEIGHBORHOOD]

Despite all efforts, Pakistan fails to woo IMF for staff-level pact

• Pakistan and the IMF failed to reach a staff-level agreement after 10 days of “tough” parleys aimed at unlocking critical funds needed for a cash-strapped nation.
• This comes as negotiations, which took place from Jan 31 to Feb 9, with the global lender — which was visiting at the govt’s request — and the local authorities concluded
• Fin Min Ishaq Dar was due to hold a press conference for the much-awaited resumption of the program, however, no official announcement was made by the financial czar.
• In a statement released late Thu night, Secy Finance, without any details, announced that “an agreement has already been struck with the IMF on prerequisite measures”.
• Also, the secy stressed that the IMF assured Islamabad of striking a staff-level pact in the coming days and the “agreement for releasing the loan will also be signed soon“.
• He further added that the IMF mission would release a detailed statement later after approval from Washington. (here)
• Foreign exchange reserves held by the central bank decreased by $170 mn to $2.9 bn in the week ending on Feb 3, the State Bank of Pakistan said on Thu. (here)

Pakistan: India seeks changes to Indus Waters Treaty

• India has upped the ante, issuing a notice to Islamabad for changes in the Indus Waters Treaty 1960 as the country fears it would lose the case of two power projects.
• A 330MW Kishenganga and 850 MW Ratle hydropower projects with disputed designs in the Court of Arbitration in the Hague.
• Pakistani officials on Tue held a crucial meeting to discuss India’s demands for modification in the IWT of 1960, brokered by the World Bank.
• India extended the notice by invoking Article XII (3) of the treaty.
• On Jan 25, India sent out a notice to Pakistan calling for modification of a specific clause of the Indus Water Treaty.
• The concerned article is Article XII(3), which deals with the final provisions of the treaty regarding disputes. 
• Secretary water resources, Pakistan commissioner for IWT, top officials of MOFA, Attorney General’s Office, MI, and ISI deliberated the Indian notice.
• The authorities concerned have also deliberated in length Pakistan’s response to the Indian notice, which would be sent to New Delhi soon. Then it would be made public.
• The WB declared a pause on Dec 12, 2016, and stopped the processes to constitute a court of arbitration as was requested by Pakistan and the neutral expert asked by India. (here)

Chinese Balloon Had Tools to Collect Electronic Communications, U.S. Says

• The WH provided its most comprehensive description of the Chinese spy balloon that traversed the US last week, saying on Thu
• It is said that the machine was part of a global surveillance fleet directed by China’s military and was capable of collecting electronic communications.
• The conclusion was that the U.S. military had dispatched Cold War-era U-2 spy planes to track and study the balloon before a fighter jet shot it down on Sat.
• The balloons have flown over more than 40 countries across 5 continents and appear to be made by 1 or more companies that officially sell products to the Chinese military.
• It questions among U.S. officials over the ties between some civilian-run enterprises in China and the country’s military, in what American officials call “military-civil fusion.”
• The U.S. surveillance planes took images of the, which included antennas, “was clearly for intelligence surveillance. (here)

U.S., UK and Australia carry out China-focused air drills

• The US, UK and Australia carried out joint air drills on Wed over the Nevada desert and beyond as part of an effort to simulate high-end combat operations against Chinese fighter aircraft and air defenses.
• The U.S.-hosted, 3-week-long Red Flag exercises aboard Britain’s KC-2 Voyager refueling tanker aircraft, which on Wed supplied fuel for U.S. and UK jets. (here)