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The <keyword id="47718" type="ORGANIZATION" weightage="20" keywordseo="Rashtrapati-Bhavan">Rashtrapati Bhavan</keyword> is all set to welcome its new resident the president elect of the India Ramnath Kovind. Having won the mandate last week, Kovind has been sworn in as the 14th president of the country. As the erstwhile governor of Bihar settles down as the first citizen of India, many of you are wondering what the perks of becoming the president of India are. 
 
Well, the president of India is eligible to enjoy a wide variety of perks besides receiving regular salary.

This is how much Ramnath Kovind will be earning as the President of
India

BRICS (<keyword id="6355226" type="COUNTRY" weightage="100" keywordseo="Brazil">Brazil</keyword>, <keyword id="6358826" type="COUNTRY" weightage="100" keywordseo="Russia">Russia</keyword>, India, China and South Africa) nations have set up <keyword id="2422318" type="UNKNOWN" weightage="100" keywordseo="The-New-Development-Bank">The New Development Bank</keyword>, a Shanghai-based development bank, and a reserve fund to finance infrastructure projects and tackle future economic crises. 
 
"These initiatives show that, despite our diversity, our countries are committed to a solid and productive association," said Brazilian President Dilma Rousseff. 
 Russian President <keyword id="43440" type="PERSON" weightage="80" keywordseo="Vladimir-Putin">Vladimir Putin</keyword> hailed the agreements as "a very powerful way to prevent new economic difficulties." The New Development Bank would be a rival the Washington-based <keyword id="6354424" type="ORGANIZATION" weightage="100" keywordseo="World-Bank">World Bank</keyword> while the reserve is seen as a ‘mini-IMF.’ 
 BRICS leaders have pressed for reform of the <keyword id="6366068" type="ORGANIZATION" weightage="100" keywordseo="INTERNATIONAL-MONETARY-FUND">International Monetary Fund</keyword> to give developing countries more voting rights. 
 
"The IMF urgently needs to review its distribution of voting power in order to reflect the unquestionable weight of emerging countries," said Rousseff. 
 
The development bank will have an initial capital of $50 billion that could increase to $100 billion. It would be funded equally by each nation. 
 To ease apprehensions of any nation getting more power than the other, BRICS leaders agreed to have the bank's headquarters in <keyword id="6368000" type="COMPANY" weightage="100" keywordseo="Shanghai">Shanghai</keyword>. The bank’s first president will be from India while the board’s first chairman will be from Brazil. 
 An <keyword id="2422320" type="UNKNOWN" weightage="100" keywordseo="Africa-Regional-Centre">Africa Regional Centre</keyword> will also be set up in South Africa. Its aim would be to help the emerging and developing nations mobilise resources for various development projects. The Contingent Reserve Arrangement will have a fund of $100 billion in order to fight potential economic volatility in case the United States stops its stimulus policy. 
 
China is expected to make the biggest contribution of $41 billion, followed by $18 billion each from Brazil, India and Russia and $5 billion from South Africa.

BRICS Set UP A New Bank With First President From India

What is President’s rule Article 356 of the Constitution of India gives <keyword id="6354560" type="General" weightage="20" keywordseo="president-of-india" source="Orion">President of India</keyword> the power to suspend state government and impose President’s rule of any state in the country if “if he is satisfied that a situation has arisen in which the government of the state cannot be carried on in accordance with the provisions of the Constitution”. The central government takes direct control of the state and the governor becomes its constitutional head. Also there would be no Council of Ministers. The Vidhan Sabha is either dissolved or prorogued. Even the chief minister’s office will be vacant, compelling the election commission to conduct re-election within six months. The crisis started after all the three major parties — BJP, Shiv Sena and NCP — didn’t stake claim to form a government, leading the president to impose president's rule in the state. How does it affect the people of the state While day to day operations of the state will not be affected, President’s rule would mean that for the next six months no major government decisions will be made. No projects will be sanctioned, and no major policy decisions including subsidies and others will be made — keeping the progress in a can until the next government is formed.

Article 356 - what is the President's rule in India

New Delhi, Mar 26 () State-owned power giant NTPC on Thursday said it has signed share purchase agreements to acquire the government's stakes in THDCIL and NEEPCO for a total of Rs 11,500 crore. NTPC has entered into share purchase agreements (SPAs) with the central government to acquire its 74.496 per cent equity stake in THDC India Ltd (THDCIL) for Rs 7,500 crore and its 100 per cent equity in North-Eastern Electric Power Corporation Limited (NEEPC) for Rs 4,000 crore, the company stated in two separate BSE filings on Thursday. According to one of the filings, "The company has, on March 25, 2020, executed a share purchase agreement with the President of India for acquisition of legal and beneficial ownership of 3,60,98,09,800 equity shares held by the President of India in North Eastern Electric Power Corporation Ltd (NEEPCO)." The agreement was also signed for the acquisition of beneficial ownership in 600 equity shares held by the nominees of the President of India in NEEPCO, it added. It also added that the total stake for which the pact was signed, including nominees, represents 100 per cent of the total paid-up share capital of NEEPCO. Another filing said, "The company has, on March 25, 2020, executed a share purchase agreement with the President of India for acquisition of legal and beneficial ownership of 2,73,09,406 equity shares held by the President of India in THDC India Ltd (THDCIL)." The pact was also inked for the acquisition of beneficial ownership in six equity shares held by the nominees of the President of India in THDCIL, it added. It also added that the total stake for which the pact was signed, including nominees, represents 74.496 per cent of the total paid-up share capital of THDCIL. The company said both acquisitions are subject to satisfaction of customary conditions. KKS HRS

NTPC signs share purchase pacts to acquire govt stakes in THDCIL, NEEPCO for Rs 11,500 cr

French companies will invest $10 billion in India over the next five years, chiefly in the industrial sector, Finance Minister Michel Sapin said on Monday during a visit by President Francois Hollande to India. 
 
"Over the last five years, French companies have invested more than $1 billion per year in India," Sapin said in a speech to the Federation of Indian Chambers of Commerce and Industry in New Delhi. 
 
"We estimate that they will continue to invest at least $10 billion over the next five years." 
 
Hollande, invited as guest of honour for India's Republic Day celebrations, hopes to seal an intergovernmental deal that would pave the way for the sale of 36 Rafale combat jets made by Dassault Aviation. 
 As part of that deal, there would be significant "offsets", or related French investments that <keyword id="6354814" type="UNKNOWN" weightage="20" keywordseo="prime-minister-Narendra-Modi">Prime Minister Narendra Modi</keyword> hopes will support his "Make in India" initiative to develop the manufacturing sector. 
 
"The majority of these investments are meant for the industrial sector, which makes France the major player in Prime Minister Modi's 'Make in India' programme," Sapin said. 
 
(Image: PIB)

French firms to invest $10 billion in India

The oath ceremony also called as the swearing in ceremony is the formal process of assuming office in the Indian parliament. The four important oath taking ceremonies in India pertain to the swearing in by the President of India, Vice-President of India, Union Council of Ministers of India including the Prime Minister, and the Chief Justice of the Supreme Court or High Court of India. The oath taking ceremony happens when the new government takes charge of the Lok Sabha positions following the elections. The winning party chooses the Prime Minister and the oath taking ceremony is scheduled for the Prime Minister and the council of Ministers who will assume their offices in the Union Government. The President of India administers the oath ceremony while the Prime Minister and the Union Ministers take charge. The grand ceremony usually takes place in the Rashtrapati Bhavan and the invitees from all over the world attend this grand function when the Lok Sabha assumes its office in the Indian parliament. Called as the oath of office and secrecy, the oath taken by the Prime Ministers and the Union Ministers comprises two parts. The first part confirms the candidate’s faith in the Indian constitution and affirms that he or she would act in accordance to the Indian constitution and discharge the duties to the best of his or her honesty and integrity for the welfare of the nation. The second part of the oath deals with the candidate’s commitment to safeguard the official information and secrets under their office. The oath of office administered by the president for Prime Minister and other members of the Union Council of Ministers in India: The oath of office extracted from Schedule III of the Constitution of India: I, (name), do swear in the name of God (or, solemnly affirm) that I will bear true faith and allegiance to the Constitution of India as by law established, that I will uphold the sovereignty and integrity of India, that I will faithfully and conscientiously discharge my duties as a Minister for the Union and that I will do right to all manner of people in accordance with the Constitution and the law, without fear or favour, affection or ill-will. The oath of secrecy extracted from Schedule III of the Constitution of India: I, (name), do swear in the name of God (or, solemnly affirm) that I will not directly or indirectly communicate or reveal to any person or persons any matter which shall be brought under my consideration or shall become known to me as a Minister for the Union except as may be required for the due discharge of my duties as such Minister. Why is it important? The oath ceremony in India is a very prestigious and important event that is conducted as guided by the constitution of India. The true essence of the oath ceremony is the official or formal way of affirming the candidate’s commitment to his office and the welfare of the Indian democracy while he or she will be entrusted with become a stakeholder in administering the government of the largest republic.

Swearing-In Ceremony of Prime Minister And Cabinet Ministers In India - Everything you need to know

Lok Sabha is an important organ of the Indian Parliament. The Parliament in India is constituted by three components namely the President of India, the Lok Sabha and the Rajya Sabha. The President of India heads the parliament of the country. Once the members of the Lok Sabha also known as MPs are elected during a general elections, they take charge. The Lok Sabha operates for five years unless it is dissolved earlier for some reason. The number of Lok Sabha seats allotted for a state depends on the population. <keyword id="7671204" type="UNKNOWN" weightage="20" keywordseo="Powers-and-Functions-of-the-Lok-Sabha">Powers and Functions of the Lok Sabha</keyword> The main function of the Lok Sabha is to pass laws. No bill can become a law in the country if the Lok Sabha does not pass it. Both general and money bills can be introduced in the Lok Sabha. When a joint sitting of the <keyword id="81070" type="ORGANIZATION" weightage="20" keywordseo="Lok-Sabha-and-Rajya-Sabha">Lok Sabha and Rajya Sabha</keyword> is called for when the country needs to take a crucial decision, the will of the Lok Sabha will prevail. A money bill can only be presented in the Lok Sabha. The power to sanction the government expenditures entirely rests with the Lok Sabha. All the bills related to seeking an amendment in the constitution must be passed in the Lok Sabha. The other important functions of the Lok Sabha include electing the President and Vice-president of the country, impeachment of the president, removing the judges of the High Courts and Supreme Court, and approving the emergency proclamations. Difference between Lok Sabha and Rajya Sabha The Lok Sabha and Rajya Sabha are the two houses of the parliament. The Lok Sabha is known as the lower house of the parliament while the Rajya Sabha is the upper house of the parliament. These two houses of the Indian parliament differ in terms of their nature, power, processes and functions. <ul><li>The total tenure of the Lok Sabha in India is only five years. Once this five year term expires, the Lok Sabha dissolves. On the other hand, the Rajya Sabha is a permanent house. After every two years, one third of the members of the Rajya Sabha retire.</li><li>Lok Sabha is the house of people. The members of the Lok Sabha also called as the MPs are elected by the common people in the country who are eligible to vote during the general elections. Rajya Sabha is the council of states and the members of the Rajya Sabha are elected indirectly by the elected representatives of the people in the assemblies of different states and union territories in the country.</li><li>The Lok Sabha has up to 552 members while the maximum number of members allowed for the Rajya Sabha is 250. </li><li>The minimum age of eligibility to become a member of the Lok Sabha is 25 while it is 30 for the Rajya Sabha. </li><li>The Speaker is the representative of the Lok Sabha while the Vice-President of India represents the Rajya Sabha.</li><li>Money bill can be introduced only in Lok Sabha. Once it is passed by the Lok Sabha, it is sent to the Raja Sabha for consideration. </li></ul>

Difference between Lok Sabha and Rajya Sabha - Everything you need to know

<ul><li>84-year old Pranab Mukherjee spent his entire political career spanning decades as a member of the Congress Party.</li><li>However, he was respected across all parties for his political acumen. </li><li>Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>, who belongs to the rival BJP, hailed the former President as an "outstanding statesman of our times". </li></ul> Former President of India Pranab Mukherjee received the country's highest civilian honour, the Bharat Ratna, at the age of 84. While Mukherjee spent his entire political career spanning decades as a member of the Congress Party, he was respected across party lines. The current Prime Minister Narendra Modi, who belongs to the rival Bharatiya Janata Party (BJP), has hailed Mukherjee as an "outstanding statesman of our times". Mukerjee's term as President of India, a post enabled by the Congress, ended in 2017. His successor President Ram Nath Kovind presented the award in a ceremony at the Rashtrapati Bhawan, the President's residence, today (August 8) in the presence of the country's top leaders. <div type="Youtube" id="KYdI9dYW-as" title="President Kovind presents Bharat Ratna to Shri Pranab Mukherjee at Rashtrapati Bhavan" thumbUrl="https://i.ytimg.com/vi/KYdI9dYW-as/mqdefault.jpg"></div>

 Mukherjee, a long-term Congress loyalist, has been among the senior-most ministers in many governments from the one headed by Indira Gandhi to her son Rajiv Gandhi followed by Narasimha Rao and most recently under Manmohan Singh between 2004 and 2014. Known for his ability to strike a deal, Mukherjee played crucial roles in breaking many political deadlocks. SEE ALSO: <a href="https://www.businessinsider.in/sushma-swaraj-indias-former-foreign-minister-passes-away-at-the-age-of-67/articleshow/70561044.cms" data-type="tilCustomLink" target="_blank">India's 'supermom' Sushma Swaraj, the lady who redefined the country's Foreign Ministry, is no more</a>

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This is how much Ramnath Kovind will be earning as the President of India

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BRICS Set UP A New Bank With First President From India

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Article 356 - what is the President's rule in India

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NTPC signs share purchase pacts to acquire govt stakes in THDCIL, NEEPCO for Rs 11,500 cr

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French firms to invest $10 billion in India

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Swearing-In Ceremony of Prime Minister And Cabinet Ministers In India - Everything you need to know

BI India Bureau

Difference between Lok Sabha and Rajya Sabha - Everything you need to know

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Watch India's former President Pranab Mukherjee receive the country's highest civilian honour

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