1. Parliament Budget Session: LS passed the Waqf (Amnd) Bill well past midnight on Wed Key changes proposed in the new Waqf Bill
2. Jaguar fighter plane crashes in Gujarat, search underway for one pilot
3. Bimstec Summit 2025: PM Modi to meet Yunus in Bangkok after Dhaka’s request: Report
4. ‘Don’t take his threat lightly…have to react’: Ruling, Opposition in Tripura on Bangladesh advisor Yunus’s jibe
5. Trump Announces 26% ‘Discounted Reciprocal Tariff’ on India

What Else

1.  India has 4th largest foreign exchange reserve; can take care of imports for 11 months: FM Sitharaman
2. Manufacturing jumps to 8-month high in March on new orders
3. Chief adviser’s remarks on Northeast India made with good intentions: High representative
4. Govt won’t make decision alone to impose ban on AL: Mahfuj
5. Pakistan: BNP-M announces long march to Quetta as deadline given to govt ‘expires’
6. Nepal’s PM Oli and Modi to meet in Bangkok on Fri
7. Prime Minister Oli says visit has strengthened Nepal-Thailand relations
8. China Restricts Companies From Investing in US as Tensions Rise

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Parliament Budget Session: LS passed the Waqf (Amnd) Bill well past midnight on Wed

• The Lok Sabha passed the Waqf (Amendment) Bill well past midnight on Wed, after a marathon 12-hour debate, with Home Minister Amit Shah categorically assuring the Muslim community that the new Bill does not interfere with their religious practices.
• The Home Minister also accused the Opposition of “fear-mongering” for the sake of “vote bank” politics.
• The debate, which started in the afternoon, went past midnight with a division of votes, as the Bill was passed with 288 MPs voting in favor and 232 against.
• The stage for a fierce exchange between the Treasury and Opposition benches was set after Minority Affairs Minister Kiren Rijiju moved the revised version of the Waqf (Amendment) Bill, the Unified Waqf Management Empowerment, Efficiency and Development Bill (UMEED).
• Key Provisions: The bill aims to enhance the efficiency of Waqf boards, streamline the registration process, and increase the utilization of technology in managing waqf records.
• Opposition Concerns: Congress and other opposition parties have raised concerns about the rapid passage of the bill, citing insufficient time to propose amendments.
• They accuse the govt of “bulldozing” the legislation.
• Govt Response: Ministers Kiren Rijiju and Amit Shah have defended the bill, stating it’s in the country’s interest and based on recommendations from a Joint Parliamentary Committee.
• Parliamentary Proceedings: The Lok Sabha’s business advisory committee has allocated eight hours for the debate, which can be extended.
• The Rajya Sabha has already approved the Immigration and Foreigners Bill, 2025.
• The Waqf (Amendment) Bill aims to amend the 1995 Act, addressing shortcomings and improving waqf property management.
• Its passage could have significant implications for the country’s Muslim community and the management of waqf properties.
• Opposition INDIA parties to present a united front against the Waqf Bill, all major parties have issued whips to their members to be present in Parliament (more)
• The Jammu and Kashmir Waqf Bill has sparked controversy, with various parties expressing dismay and concerns about its implications.
• Andrabi, the State Waqf Board Chairperson, has welcomed the move, stating that it will help streamline the management of Waqf properties and improve their utilization. (more)

Key changes proposed in the new Waqf Bill

• The Waqf (Amendment) Bill 2024 proposes several key changes to the existing Waqf Act 1995.
• Waqf Formation: Waqfs can now be established through declaration, recognition of long-term use, or endowment after succession ends.
• Only practicing Muslims with property ownership can declare waqfs.
• Property and Ownership Changes: Govt properties identified as waqf will revert to state ownership, with disputed cases resolved by the District Collector.
• The Waqf Board’s authority to determine waqf properties has been removed.
• Changes in Governance and Representation: The Central Waqf Council will now include 2 non-Muslim members and state govts will appoint Waqf Board members, including non-Muslims and representatives from Shia, Sunni, and backward Muslim communities.
• Tribunal and Legal Changes: The Waqf Tribunal’s composition has been changed, and its decisions can now be challenged in the High Court within 90 days.
• Central Govt Oversight: The central govt will regulate registration, waqf accounts, and Board proceedings, with the Comptroller and Auditor General conducting audits.
• Separate Waqf Boards: Separate Waqf Boards will be allowed for the Bohra and Agakhani sects.
• These changes aim to address concerns around mismanagement and corruption of WBs, reduce property disputes, and streamline legal disputes and jurisdiction issues (more)

Jaguar fighter plane crashes in Gujarat, search underway for one pilot

• A Jaguar fighter aircraft of the Indian Air Force crashed in Jamnagar, Gujarat, on Wed night, with two pilots on board.
• One pilot ejected safely and was taken to the hospital, while a search operation is underway for the second pilot. The cause of the crash is currently under investigation.
• Aircraft: Jaguar fighter jet
• Location: Jamnagar, Gujarat
• Number of Pilots: 2
• Status: One pilot rescued, one still missing
• Investigation: Ongoing to determine the cause of the crash
• Emergency teams, including rescuers and locals, are at the scene, with visuals showing the aircraft lying on its side with debris scattered around.
• The incident is being closely monitored, with authorities working to locate the missing pilot. (more)

Bimstec Summit 2025: PM Modi to meet Yunus in Bangkok after Dhaka’s request: Report

• PM Modi and Chief Advisor to Bangladesh’s interim govt, Muhammad Yunus, are expected to meet on the sidelines of the BIMSTEC Summit in Bangkok, marking their first official bilateral meeting since the interim govt took office in Dhaka last Aug.
• This meeting, requested by Bangladesh, aims to ease strained bilateral ties between India and Bangladesh, particularly following attacks on Bangladesh’s Hindu minority.
• The meeting’s significance is amplified by Yunus’s recent visit to China, where he encouraged Beijing to expand its economic influence in Bangladesh.
• B’desh’s Foreign Secy believes the meeting will help overcome strained ties, but the complex dynamics between India, Bangladesh, and China add to the meeting’s intrigue. (more)
• The BIMSTEC Summit, hosted in Bangkok from Apr 3-4, brings together 7 member states to promote economic and social development in the Bay of Bengal region.
• With a combined GDP of over $4.7 trillion and a population of 1.7 billion, BIMSTEC focuses on areas like trade, investment, energy, transportation, and climate change.
• India plays a key role in BIMSTEC, hosting initiatives like the BIMSTEC Centre for Weather and Climate, Energy Centre, and BIMSTEC Aquatics Championship.
• The 6^th Summit’s theme, “Prosperous, Resilient, and Open BIMSTEC,” reflects its aim to enhance regional cooperation and address common challenges. (more)

‘Don’t take his threat lightly…have to react’: Ruling, Opposition in Tripura on Bangladesh advisor Yunus’s jibe

• Tripura’s ruling and opposition parties have condemned Bangladesh’s interim govt chief advisor, Muhammad Yunus, for his comments on India’s northeastern states.
• Yunus stated that Bangladesh is the “only guardian of the ocean” for the region, sparking concerns about potential threats.
• Politicians from Tripura, including Pradyot Kishore Manikya Debbarma, Sudip Roy Barman, Jitendra Chaudhury, and Nabendu Bhattacharjee, have reacted strongly, urging the Indian govt to respond firmly. [New Delhi has maintained a studied silence]
• The comments have raised concerns about regional dynamics, historical tensions, and territorial claims between India and Bangladesh.
• Yunus, not being an elected head of the country, has been questioned for provoking India in a third country, sparking debates about India’s relationships with its neighbors and how to address sensitive issues. (more)

Trump Announces 26% ‘Discounted Reciprocal Tariff’ on India

• US President Donald Trump has unveiled a new global trade policy, imposing “reciprocal tariffs” on countries that charge high tariffs on US goods, including India.
• Trump calls this move “Liberation Day,” aiming to level the playing field and reduce America’s trade deficit.
• The tariffs, ranging from 10% to 49%, target countries like India (26%), China (34%), and the European Union (20%).
• For India, this move may impact its exports to the US, particularly in the IT and pharmaceutical sectors.
• India’s neighboring countries, such as Bangladesh (37%) and Pakistan (29%), also face significant tariffs.
• In the region, Sri Lanka (44%) and Thailand (36%) are among the countries with the highest tariffs.
• The move may lead to a trade shift in the region, with countries like Vietnam (46%) and Malaysia (24%) potentially benefiting from the tariffs imposed on their competitors
• Trump asserts that the US will no longer tolerate unfair trade practices, citing examples like India’s high tariffs on US goods.
• The reciprocal tariffs are set to take effect on April 9, with a 25% tariff on non-US-assembled automobiles starting Apr 3^rd. (more)
• Trump on India: “You’ve not been treating us right,” he recalled as saying to PM Modi when he spoke about India’s high import duties.
• The US has decided to reciprocate India’s “52%” tariffs by charging Indian goods half of that – 26%, when they are imported to the United States. (more)

India has 4^th largest foreign exchange reserve; can take care of imports for 11 months: FM Sitharaman

• India’s foreign exchange reserves stand at approximately $682.13 billion, ranking fourth globally, and can cover 11 months of imports, providing a significant buffer against economic shocks.
• The reserves, managed by the Reserve Bank of India, comprise foreign currencies, gold, Special Drawing Rights (SDRs), and the reserve position in the IMF.
• This robust reserve position ensures economic stability, enables effective currency management, boosts investor confidence, and serves as a safety net during economic downturns or sudden capital outflows.
• The RBI’s prudent management of reserves has contributed to India’s economic resilience, allowing the country to navigate global economic uncertainties with relative ease. (more)

Manufacturing jumps to 8-month high in March on new orders

• India’s manufacturing sector saw a significant boost in March, with the Purchasing Managers’ index (PMI) rising to 58.1, its highest level in eight months.
• Driven by stronger fresh orders and increased customer interest, the sector recorded its best performance since July 2023. Key highlights include :
• New Orders Index: Reached an eight-month high of 61.5, supported by favorable demand conditions and successful marketing initiatives.
• Production: Scaled up at a pace above historical averages, with manufacturers tapping into inventories, leading to the fastest drop in finished goods stocks since Jan 2022.
• Business Expectations: Remain optimistic, with around 30% of firms anticipating higher output in the coming year.
• International Sales: Slowed marginally, but demand from Asia, Europe, and the Middle East remained strong. (more)

[Neighborhood]

Chief adviser’s remarks on Northeast India made with good intentions: High representative

• Bangladesh’s interim govt is keen on maintaining good relations with all countries, including India.
• Chief Adviser Muhammad Yunus’ recent comments on regional connectivity, particularly regarding India’s northeastern states, have sparked reactions from Indian leaders.
• Yunus emphasized Bangladesh’s strategic location, calling it the “only guardian of the ocean” for the region, and invited Chinese investors to tap into this opportunity.
• Some Indian leaders, like Assam Chief Minister Himanta Biswa Sarma, found Yunus’ remarks “offensive” and “provocative.”
• However, Bangladesh’s High Rep, Dr. Khalilur Rahman, clarified that Yunus made the statement with honest intentions, highlighting the benefits of regional connectivity.
• Rahman also pointed out that similar comments were made by Yunus in 2012 and by Japanese Prime Minister Fumio Kishida in 2023.
• A meeting between Yunus and PM Modi is possible on the sidelines of the BIMSTEC Summit in Bangkok on Apr 4.
• This could help address concerns and strengthen ties between the two nations. (more)

Govt won’t make decision alone to impose ban on AL: Mahfuj

• Information and Broadcasting Adviser Mahfuj Alam announced that the government won’t unilaterally decide on banning the Awami League (AL).
• Instead, they’ll consult with other political parties, development partners, and stakeholders.
• “This decision comes despite repeated demands from the public to ban the AL” claimed Mahfuj
• Mahfuj emphasized the importance of reviewing the matter with all involved parties before making a decision.
• Additionally, Mahfuj discussed the upcoming general elections, stating they’ll take place between Dec 2025 and June 2026.
• He assured that the polls will happen within this timeframe and encouraged political parties to prepare.
• Mahfuj also mentioned that the Media Reform Commission’s recommendations will be reviewed with all stakeholders, prioritizing media workers’ wages, benefits, and ownership issues. (more)

Pakistan: BNP-M announces long march to Quetta as deadline given to govt ‘expires’

• Balochistan National Party chief Akhtar Mengal has announced a long march towards Quetta today after the deadline for the release of Baloch Yakjehti Committee (BYC) leaders expired.
• The sit-in protest, which began on Mar 28 at Lakpas, will now transition into a long march, with participants, including women and children, demanding the release of detained BYC activists, such as Dr. Mahrang Baloch.
• The provincial administration is taking measures to prevent the BNP convoy from entering Quetta, including digging trenches and sealing off areas with containers.
• Talks between the BNP and the provincial govt have failed to make progress.
• Mengal criticized the Balochistan govt as “powerless” and noted that the Sindh govt had released BYC leader Sammi Deen Baloch. (more)

Nepal’s PM Oli and Modi to meet in Bangkok on Fri

• Nepalese Prime Minister KP Sharma Oli is set to meet Indian PM Narendra Modi on the sidelines of the sixth Bimstec summit in Bangkok on Fri.
• This meeting will be their second engagement at a multilateral forum, following their previous meeting in New York last Sept, which “reportedly didn’t go well”.
• Oli’s meeting with Modi is significant, as it may pave the way for his long-awaited official bilateral visit to India.
• The two leaders are expected to discuss matters related to breaking down the logjam at the highest political level.
• Oli is currently in Bangkok, leading the Nepali delegation to the Bimstec summit, where he will also meet other Bimstec leaders and address the summit on Fri. (more)

Prime Minister Oli says visit has strengthened Nepal-Thailand relations

• Nepal’s Prime Minister KP Sharma Oli has successfully strengthened Nepal-Thailand relations during his historic 5-day visit to Thailand.
• This visit marks the 1^st official visit by a Nepali PM since the establishment of diplomatic ties 65 years ago.
• PM Oli met with his Thai counterpart, Paetongtarn Shinawatra, and discussed expanding economic partnerships and deepening historical and cultural connections.
• They also witnessed the signing of several agreements, including 2 govt-level MoUs on cultural and tourism cooperation.
• Some of the key agreements signed during the visit include:
• Cultural Cooperation: An MoU on cultural exchange and promotion to strengthen ties through joint cultural initiatives ⁴.
• Tourism Cooperation: An MoU to boost tourism, focusing on marketing, training programs, and knowledge sharing between tourism sectors.
• Eye Care Collaboration: An agreement between Nepal Netra Jyoti Sangh and Thailand’s Mahidol University’s Ramathibodi Hospital to develop eye care services.
• Agriculture and Forestry Partnership: An MoU between Janata Agro & Forestry Nepal and Thailand’s Kasetsart University to cooperate in agriculture research, forestry, and technology exchange.
• These agreements aim to enhance cooperation in tourism, culture, trade, education, and healthcare, further strengthening the friendly ties between the two. (more)

China Restricts Companies From Investing in US as Tensions Rise

• China has imposed restrictions on its companies investing in the United States amid escalating tensions between the two nations.
• The National Development and Reform Commission (NDRC) has issued new rules requiring domestic companies to undergo a review process before investing in the US.
• The rules aim to “safeguard national security and interests” and prevent the transfer of sensitive technology.
• This move is seen as a response to the US’s increasing scrutiny of Chinese investments, particularly in the tech sector.
• The restrictions may impact Chinese companies’ ability to invest in US-based startups and tech firms, potentially exacerbating the ongoing trade tensions between the two nations. (more)