PM Modi chairs high-level meet to review preparedness for hot weather conditions this summer
New Delhi, Mar 6: Prime Minister Narendra Modi Monday chaired a high-level meeting to review preparedness for the hot weather condition in the upcoming summer season and called for preparing separate awareness material for different stakeholders like common citizens, medical professionals, local body authorities and disaster response teams.
The PMO, in a statement, said that Modi was briefed about the weather forecast for the next few months and on the likelihood of a normal monsoon and their impact on Rabi crops.
He was also briefed about the preparedness of medical infrastructure, disasters related to heat and mitigation measures, it said.
The Food Corporation of India was asked to take measures to ensure optimal storage of grains in extreme weather conditions, the PMO said, noting the prime minister was also briefed about the expected yield of major crops.
Modi instructed India Meteorological Department to prepare daily weather forecasts in a manner which makes predictions easy to interpret and disseminate.
TV news channels and FM radio among other media outlets could spend a few minutes daily to explain the daily weather forecast so that citizens can take necessary precautions, the statement said.
He also stressed the need for detailed fire audits of all hospitals and said mock fire drills be conducted by firefighters in all hospitals.
Ongoing efforts to monitor irrigation water supply, fodder and drinking water were also reviewed in the meeting, the statement said.
Modi was briefed about the preparedness of states and hospital infrastructure in terms of the availability of required supplies and preparedness for emergencies. He was also updated about various efforts underway across the country to prepare for disasters related to heat and mitigation measures in place, it said.
Officials attending the meeting were instructed to incorporate some multimedia lecture sessions in schools to sensitise children on dealing with extreme heat conditions.
Modi said protocols and dos and don'ts for hot weather should be prepared in accessible formats, and various other modes of publicity like jingles, films and pamphlets should be prepared and issued.
The need for a coordinated effort to deal with forest fires was also pointed out at the meeting. It was discussed that systemic changes should be made to support efforts to prevent and tackle forest fires.
The principal secretary to the prime minister, Cabinet secretary and home secretary and senior officials from other ministries and departments attended the meeting.
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SEBI must name 'big players' profiteering at expense of small traders in F&O trading: Rahul Gandhi
New Delhi, Sep 24: Congress leader Rahul Gandhi on Tuesday said 90 per cent of small investors have lost Rs 1.8 lakh crore in Futures and Option (F&O) trading in three years and asked the SEBI to reveal the names of the "so called big players" profiteering at their expense.
More than 91 per cent, or 73 lakh, individual traders lost money in the F&O segment in FY24 with an average net loss of Rs 1.2 lakh per person, a study conducted by markets regulator Securities and Exchange Board of India (SEBI) revealed on Monday.
Further, 93 per cent of over 1 crore individual F&O traders incurred average losses of about Rs 2 lakh per trader (inclusive of transaction costs) during the three years from FY22 to FY24. The aggregate losses of such traders exceeded Rs 1.8 lakh crore during the period.
Gandhi, who is the leader of the Opposition in the Lok Sabha, said on X, "Uncontrolled F&O trading has grown 45X in 5 years. 90% of small investors have lost ₹1.8 lakh Cr in 3 years."
"SEBI must reveal the names of the so called 'Big Players' making a killing at their expense," the former Congress chief said.
The study said in FY24 alone, individuals incurred about Rs 75,000 crore in net losses.
It found the top 3.5 per cent of loss-makers -- about 4 lakh traders -- faced an average loss of Rs 28 lakh per person over the same period, inclusive of transaction costs.
On the other hand, only 7.2 per cent of individual F&O traders made a profit over the period of three years and only 1 per cent of individual traders managed to earn profits exceeding Rs 1 lakh, after adjusting for transaction costs.
Moreover, the number of retail traders, or individual traders, has almost doubled in two years to about 96 lakh in FY24 from about 51 lakh in FY22.
Although such investors contributed about 30 per cent to the total turnover in FY24, they are a clear majority in number terms, as 99.8 per cent of total traders in the equity F&O segment are individuals.
"The availability of sophisticated trading platforms and lower transaction costs have enabled retail investors to actively trade in options and futures contracts, contributing to the surge in market liquidity," SEBI said.
The regulator said rapid growth in F&O trading activity has highlighted the need for investor education and risk management practices, as a significant proportion of retail traders continued to incur losses in the market.
Uncontrolled F&O trading has grown 45x in 5 years.
— Rahul Gandhi (@RahulGandhi) September 24, 2024
90% of small investors have lost ₹1.8 lakh Cr in 3 years.
SEBI must reveal the names of the so called “Big Players“ making a killing at their expense.
