??Modi 3.0 takes charge | ??9 Hindu pilgrims killed in Reasi terror attack; a disturbing pattern emerges

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Market Watch

• At the close, the NSE Nifty 50 fell 30.95 points to 23,259.20, and the BSE Sensex declined 203.28 points to 76,490.08.
• Nifty Metal was the biggest gainer, up 1.9%, followed by Nifty Realty (1.3%) and Pharma (1%). Nifty consumer durables and healthcare rose 0.7% each. The Nifty IT Index fell 1.8%.

Modi 3.0 takes charge

Narendra Modi has been sworn in for a historic third consecutive term with a new cabinet composition reflecting significant political and social strategies.

The analysis of the cabinet: Narendra Modi’s cabinet now includes 72 ministers, featuring a mix of experienced leaders and newcomers.

• BJP President J P Nadda has been sworn in as a cabinet member.?
• Allies such as TDP and JD(U) secured 15% of cabinet berths, with 11 ministers among BJP allies.
• The new cabinet includes 33 first-time ministers, with seven from alliance partners.
• Seven women have been inducted, the previous council had ten women ministers.
• TDP MP Ram Mohan Naidu Kinjarapu who is 36 years old took oath as the youngest minister.

Signal South: By inducting Suresh Gopi and George Kurian into Modi's Cabinet, the BJP signals its strategic goals for the 2026 Kerala Assembly elections. [Controversy erupted after Gopi claimed that he would quit the post to concentrate on movies]

• George Kurian, a prominent BJP functionary and representative of the Syrian Catholic community, also joined the Cabinet, highlighting BJP's outreach to Christian voters.
• Karnataka received five union ministers, including JDS state president HD Kumaraswamy who will serve as a union minister for the first time.
• Tamil Nadu’s L Murugan has been retained despite losing to A Raja while K Annamalai who was poised as a frontrunner for a cabinet post did not make the cut.

No minorities in the cabinet? The new cabinet saw the non-representation of Muslims, sparking a debate on social media. However, the claims that there were no minorities in the cabinet were promptly fact-checked.

NCP refuses the MoS post: Coalition politics is already taking shape with the Nationalist Congress Party (NCP) refusing BJP’s offer of a Minister of State (MoS) with independent charge. The party is demanding a Cabinet minister post instead.

• Ajit Pawar expressed readiness to wait for a Cabinet rank, while maintaining support for the NDA.

Who didn't make it from Modi 2.0: BJP leaders Smriti Irani, Anurag Thakur, Parshottam Rupala, and Rajeev Chandrasekhar have been dropped.

• Irani and Chandrasekhar lost their elections, and Thakur is expected to take on a major organizational role.?
• Rupala's removal is attributed to controversial remarks where he said Rajputs had succumbed to the Britishers during the campaign. This reportedly affected BJP's performance in Uttar Pradesh and Rajasthan.

The first file: After taking oath, Prime Minister Narendra Modi signed his first file authorizing the release of the 17th instalment of the PM Kisan Nidhi scheme, benefiting 9.3 crore farmers and disbursing Rs 20,000 crore.

• This could be a signal after farmer resentment was touted as one of the reasons for the BJP’s loss of seats in the Hindi heartland. This move is also ahead of the Haryana elections.

Meanwhile, the visuals from the first cabinet meeting were released, however, the suspense over the portfolios remains. The government remained completely tight-lipped over the portfolios without even allowing leaks to the media. This is the longest that any government has taken to announce portfolios. (No announcement was made at the time of the report)

The battle for the speaker's post: No matter who gets what portfolio, it is unlikely that the BJP will give up key ministries to its allies including that of the Speaker’s post. However, both JD(U) and TDP, are contending for the Lok Sabha Speaker post due to its strategic importance.

• Historically, the Speaker's impartiality is vital, especially in a coalition, to prevent mutinies and ensure stability. The Speaker's role is crucial in coalition governments for maintaining order and deciding on matters related to defection.

Clip du jour

Is that a leopard or a cat? Focus shifts to the uninvited guest at the Rashtrapati Bhavan.

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9 Hindu pilgrims killed in Reasi terror attack; a disturbing pattern emerges

The attack: A bus carrying pilgrims plunged into a gorge in Jammu and Kashmir’s Reasi district after suspected terrorists opened fire, resulting in the death of nine pilgrims.

• Initial reports suggest that two masked terrorists opened fire, hitting the driver and causing the vehicle to crash.
• The bus was en route from Ransoo near Shiv Khori to Katra town and was carrying several pilgrims.

The disturbing pattern in terror attacks: Following a pattern seen in the Rajouri and Poonch attacks, the terrorists targeted the bus as it approached a bend, exploiting the slow speed to inflict maximum damage before retreating into dense foliage. This tactic has become a significant challenge in the Jammu region.

Eyewitnesses recount horror: Eyewitnesses reported that gunfire continued even after the bus fell into the gorge, adding to the terror.

• Driver tried to steer bus to safety: In a heroic act, the bus driver Dasanoo Rajbagh, attempted to steer the bus to safety despite being targeted by gunfire.? He succumbed to the attackers’ bullets, causing the bus to veer off the road and plunge into a deep gorge.?

Of note: Pakistan-backed “The Resistance front” has claimed responsibility for the attack.

• ORF explains that “Hybrid Militancy,” is a recent development with newer outfits like The Resistance Front (TRF), made up of a network of overground workers (OGWs), who carry out decentralized attacks on “soft targets.”
• They now use “individuals who aren’t listed in police records, and therefore are off the radar, making them harder to track,” and “unlike other terror groups, who glorify their memberships through social media, TRF maintains confidentiality,” to provide an “indigenous identity to outsourced terror.”
• Officials stated that TRF was merely LeT by a new name, which was chosen to avoid religious connotations and instead utilise the politically advantageous term of “resistance”.
• The outfit began as a Karachi-based social media operation and then moved into weapons trafficking and eventually militancy.

ICYMI

• ??Did Modi and Amit Shah break Sebi rules by predicting stock market rally after elections? Legal experts weigh in.
• ??Right sees a resurgence in Europe! EU parliamentary polls have shown the surge of Far-right parties, topping polls in Germany, France, and Austria.
• ??Amazon India warehouse workers have raised serious concerns about their working conditions and are pushing for unionisation.
• ??How inadequate security checks led to a massive data breach in the Telangana police app.
• ??Canada Intel Chief made secret visits to India twice this year related to the Hardeep Singh Nijjar case.
• ??BJP IT cell chief Amit Malviya is accused of sexual exploitation, he has countered the allegations by filing a defamation case.