FRIDAY 20 `27,638 cr MARCH, 2026 IS THE THE TOTAL ASSET OF 229 SITTING MPs epaper.morningstandard.in facebook.com/TheMorningStandard X.com/TheMornStandard CHINA-US 14% OF RAJYA SABHA LAWMAKERS ARE BILLIONAIRES: ADR REPORT TRADE CONSENSUS TAKES SHAPE SIX BJP, FIVE INC MPS HAVE OVER `100 CR EACH China has said “new points of consensus” have been reached in its current trade talks with the US ahead of President Donald Trump’s planned visit A CAPITAL VIEW OF NEWS PAGE 9 PALAM FIRE Probe ordered, scuffle between BJP and AAP amid sparring NEW DELHI  J8.00  PAGES 12 Crude shock as oil spikes Price soars to $113 a barrel after Iran’s retaliatory strike on Qatar gas infra BSE SENSEX E X P R E SS N E WS S E R V I C E @ New Delhi A scuffle broke out between BJP MLA Kuldeep Solanki and AAP Delhi president Saurabh Bharadwaj on Thursday when the AAP leader and his supporters went to the Palam area where a blaze had killed nine people on Wednesday . The incident occurred when representatives from both sides visited the accident site to interact with the families of the victims. AAP leaders accused the BJP government of not providing adequate and timely help to the victims and the missing hydraulic cranes during the firefighting operation. A Delhi Police official said that, first, the two sides argued and traded charges in the form of slogans and later entered into a physical confrontation. The police intervened to separate the two sides. Later AAP convener Arvind Kejriwal also went to the area of accident and alleged that the BJP supporters misbehaved with him. “I had gone to Palam to meet the victims’ families, but BJP karyakartas stopped us from meeting them, misbehaved with us, and threw chairs at us,” he said. Meanwhile, the Delhi government ordered a city-wide fire safety audit on Thursday as the government mandated that every single establishment, including those located away in residential areas, must strictly be in pursuit of standard safety rules. To get this done, it has ordered that third-party experts map and audit all establishments. Delhi Lieutenant Governor Taranjit Singh Sandhu had directed a comprehensive fire audit across the city on Wednesday In a post on X, the . L-G office said, “Directed a comprehensive fire audit across localities and institutions to strengthen prevention.” P3  The report is based on an analysis of affidavits of 229 out of 233 Rajya Sabha MPs. The report said 31 MPs (14 per cent) having a net worth of billions of rupees. Among major parties, six BJP MPs, five Congress MPs, four YSRCP MPs, two AAP MPs, two BRS MPs, and three NCP MPs have declared assets exceeding `100 crore | P7 74,750.92 75,354.18 74,207.24 ENERGY PAIN Crude oil climbed to $118.62 a barrel after Iranian hits on Saudi, Qatar energy sites $118.62 73,950.96 $115.00 $112.50 -2,496.89 (-3.26%) R A K E S H K U M A R @ New Delhi GLOBAL crude oil prices surged on Thursday after Iran bombed Qatar’s Ras Laffan LNG hub, as a retaliatory strike against Israel’s attack on Iran’s South Pars gas field on Wednesday. Brent crude rose around 6% on Thursday to touch $113.6 per barrel. Hinting at more escalation, Iran threatened further attacks if its energy infrastructure was hit again. The situation has raised concerns for India, which depends on energy imports from West Asia as 90% of the country’s DAY LPG imports and 47% of LNG imports come from this region, with Qatar being a key supplier. Ras Laffan is one of the world’s largest natural gas processing hubs operated by QatarEnergy Iran’s attack on . it triggered a major fire and forced production halts. Qatar’s foreign ministry said most incoming missiles were intercepted, but one hit the facility. QatarEnergy CEO Saad al-Kaabi said the attacks damaged infrastructure accounting for 17% of Qatar’s LNG export capacity with re, pairs expected to take years. Underscoring the implications for India, Sujata Shar- 20 Open 09:00 ma, joint secretary in the Ministry of Petroleum and Natural Gas, said: “Any disruption in Middle East directly impacts us. The key question is how we deal with such risks. We are addressing this through diversification of supply sources. For crude oil, we have already diversified significantly—about 70% of our crude now comes from regions outside the Gulf and the Strait of Hormuz. Similarly, for LPG, we are expanding sourcing beyond traditional suppliers. For LNG, we are also sourcing from US and Australia.” I n d i a ’s L N G supplies were already under pressure after Qatar declared force majeure on some deliveries. Industry analysts say it could take months to fully restore gas production at affected facilities. While India can diversify LNG imports, higher transportation costs may push up prices. Despite rising crude prices, the government has said there will be no immediate increase in petrol and diesel prices. The crude shock has also spooked equity markets, with equity investors’ wealth eroding by `12.87 lakh crore on Thursday as BSE Sensex tanked 3.2%. P9 Close 15:00 DAY’S DEVELOPMENTS Govt secures additional gas for urea plants via spot auction; output to rise by 13,000 tonnes a day Pentagon seeks `200 billion in additional funds for the Iran war Hegseth says all 11 Iran submarines taken out Missile fragments from Iran salvo hits Haifa oil refinery, damage minor, says Israel minister Iran attack wiped out 17% of Qatar’s LNG capacity for 5 years: Qatar Energy CEO Europe, Japan say they would act to stabilise markets and join “appropriate efforts” to open Strait of Hormuz March 19 WITH only four days left for filing of nominations to conclude in Puducherry and just 10 days left for the nomination process to start in Tamil Nadu, intense political drama is unfolding in both the regions. All major parties are hard pressed for time to finalise the seat-share arrangement in their alliances while ensuring best deals for themselves. In the NDA, where the formal alliance talks remained a non-starter, AIADMK general secretary Edappadi K Palanswami, the leader of the alliance in TN, flew to Delhi on Thursday to meet with Union Home Minister Amit Shah to finalise the seats. While a few DMK leaders were critical of Palaniswami’s visit, terming it as yet another indication of BJP being the true “master” of the alliance, things are far from being settled in the DMK-led Secular Progressive Alliance in TN as the ruling party is trying hard to keep its long-term allies happy . As CPM remains firm on getting at least six seats, it is learnt that DMK president MK Stalin reached out to VCK if they could relax their demand to tackle the situation. In Puducherry, where the situation is more urgent as Monday is the last day for filing nominations, DMK and Congress are yet to finalise their seat-share pact. Speculation is rife whether the NDA will remain intact as the BJP-ally AINRC’s CM N Rangasamy took off on temple visits when Union Minister Mansukh Mandaviya was in Puducherry for talks. J AYA N T H J A C O B @ New Delhi CALLING the escalating attacks on energy infrastructure in West Asia ‘deeply disturbing’, India on Thursday pushed for urgent de-escalation even as Prime Minister Narendra Modi worked the phones to contain the crisis centred around the Strait of Hormuz, a critical artery for global energy and trade. “India had previously called for the avoidance of targeting civilian infrastructure, including energy infrastructure. Recent attacks are deeply disturbing and only serve to further destabilise an already uncertain energy scenario for the whole world. Such attacks are unacceptable,” said Randhir Jaiswal, spokesperson, External Affairs Ministry . Modi, in multiple conversations with world leaders, stressed diplomacy as the only viable path forward. “We agreed on the need to prioritise dialogue and diplomacy for de-escalation and restoration of peace,” he said after speaking with Sultan of Oman. In his call with French President Emmanuel Macron, Modi highlighted the “urgent need for de-escalation. “India and France are working to reduce tensions in the region and to keep diplomacy at the heart of our efforts for peace,” Macron later said. After speaking to Jordan’s King Abdullah II, Modi said on X. “Attacks on energy infrastructure are condemnable and can lead to avoidable escalation.” Jaiswal confirmed that disruptions in the Strait have begun to impact supplies. Only 6 women in BJP 1st list of 88 Assam candidates The BJP also released the first list of 88 candidates for Assam, rewarding 4 Congress turncoats and dropping 19 sitting MLAs. CM Himanta Biswa Sarma will contest from Jalukbari. P8 ASSEMBLY ELECTIONS BORDOLOI’S SON GIVES CONGRESS A JOLT I P8 CALCUTTA HC, STATE POLICE OFFICIALS MEET I P8 Chakraborty later told the media that his resignation was HOURS after the sudden resig- a routine af fair, without nation of HDFC Bank’s part- elaborating. time chair man Atanu During the analyst call, inChakraborty rattled markets terim chairman Keki Mistry and investors alike, the Re- said the board and manageserve Bank of India ment are completely (RBI) on Thursday cohesive and united, said the second largest emphasising that bank remains finanthere has never been cially sound, well-capany kind of discussion italised and adequateon any matter contenly liquid, with no tious in terms of govconcerns on governernance at the board Atanu urged level. He highlighted ance or conduct. In his resignation to reconsider that strong oversight letter, Chakraborty mechanisms are in HDFC MD and had flagged concerns CEO S Jagdishan place through indeover “certain practic- said Chakraborty pendent board comes at the bank that mittees which oversee has been asked were not in congru- to reconsider his key areas such as risk ence” with his personmanagement, complidecision, al values and ethics. elaborate on his ance, and audit. RBI said it has tak“What caused that concerns and en note of recent deletter to be sent today rework parts of velopments at the is something which, his letter bank and approved a really to my mind, de, transitional arrangefies logic,” Mistry ment for the position of part- said, adding that any minor istime chairman, adding that it sues are addressed promptly will continue to engage with with clear timelines. He had the bank’s management on the earlier alluded to a possible way forward. personal issue behind This comes amid market tur- Chakraborty’s abrupt exit but bulence following the top-tier declined to elaborate. Market exit. Shares of HDFC Bank sources say Chakraborty has a plunged 5.11% to `798 at close. tussle with the bank’s CEO. D I PA K M O N D A L @ New Delhi EXPRESS READ Doraiswami named India’s next envoy to China India on Thursday appointed senior diplomat Vikram Doraiswami as the next ambassador to China. The 1992-batch IFS officer, who is currently serving as the High Commissioner to the UK, succeeds Pradeep Rawat, who steered engagement during a sensitive phase following the disengagement process in eastern Ladakh in October 2023. Gangsters accused of Chandigarh shootout held The Punjab and Haryana police arrested two shooters in a joint operation in Karyana’s Kaithal on Thursday and recovered three sophisticated weapons from their possession. They were involved in the brazen shootout in the high-security Sector 9 of Chandigarh on Wednesday, in which a property dealer was shot dead. P8 Shed Chinese drone components in mission mode: Rajnath to industry J A V A R I A R A N A @ New Delhi Experience and diversity in BJP Bengal 2nd list The BJP has released its second list of 111 candidates for the Bengal Assembly polls. It has combined seasoned political figures with known people from various walks of life. P8 $110.00 ATTACK ON INFRA UNACCEPTABLE, SAYS INDIA TN, Pondy nomination deadline nears, alliances clueless about seat share E X P R E S S N E W S S E R V I C E @ Chennai $117.50 $113.60 Previous close: 76,704.13 Social media image of the Haifa oil refinery that was hit by missile fragments from an Iranian salvo on Thursday | X $120.00 RBI says all’s well at HDFC Bank, but shares slip 5% RAM POINT President Droupadi Murmu performs puja at the Shri Ram Janmabhoomi Temple in Ayodhya on Thursday, as UP Governor Anandiben and spiritual leader Mata Amritanandamayi look on. Murmu also installed a Ram Yantra at the temple. She later said, “Bowing before Ram and paying homage to Mother India are the same.” | PTI WITH Chinese components deeply embedded in drone supply chains worldwide, defence minister Rajnath Singh on Thursday made a strong pitch for India to urgently indigenise production and wean itself off such dependencies. Speaking at the National Defence Industries Conclave in New Delhi, he said lessons from ongoing conflicts have underscored the growing centrality of drones and counter-drone systems in modern warfare. Indigenisation, he said, must extend beyond the platform level to the entire component ecosystem. “India must move in mis- sion mode to become a global hub for indigenous drone manufacturing,” he added. The presence of such parts in drones operating along the sensitive northern and eastern borders has long been a source of anxiety within the defence establishment. In 2024, an Army drone operating near the From moulds and software to engines and batteries, every element must be produced in India... Most drone-producing countries still depend on critical imports from China Rajnath Singh northern borders was reportedly hijacked by Pakistan, with the vulnerability traced to a Chinese-made autopilot system used for navigation. The Army Design Bureau had submitted a comprehensive framework to the defence ministry last year to phase out Chinese-origin components in UAVs. Sources said the proposal has been under review for nearly a year and is expected to be rolled out soon, likely before May It is also set . to be incorporated into the updated Defence Acquisition Procedure (DAP) 2026. Rana’s euthanasia process begins at AIIMS, taken off O2 support N A M I TA B A J PA I @ Lucknow FLAT no. A-1314 in Raj Empire Society Raj Nagar, Ghaziabad, , has been quiet since Saturday, March 14, when Harish Rana, who had been in a coma for 13 years, was moved to AIIMS in New Delhi for passive euthanasia, allowed by the Supreme Court on March 11. His parents, Ashok and Nirmala, had asked the court for this after years of caring for him and enduring their own pain. At AIIMS, doctors stopped his feeding tube, removed his oxygen support, and placed him in a general palliative care bed. Dr Seema Mishra, the head of anaesthesia and palliative medicine, leads a team of 10 doctors overseeing his care. The doctors said that their goal is not to speed up death, but to ease his pain and let him pass naturally . At home before the transfer, Brahmakumari Sister Lovely applied a sandal tilak on Harish’s forehead. “You are like a bird trapped in a cage of sor- Docs want less pain, not fast death Dr Seema Mishra, the head of palliative medicine at AIIMS, leads a team of 10 doctors overseeing his care. The doctors said that their goal is not to speed up death, but to ease his pain. row and pain. The time has come for you to fly free,” she whispered. Nirmala, who had wished for euthanasia years ago, held her son’s hand, while Ashok apologised to relatives, his voice heavy with reluctant resolve. Harish was a BTech student at Punjab University in Chandigarh when he fell from the fourth floor in 2013 and became paralysed. As the years passed, he developed bedsores a n d g r e w w e a k e r, b u t sometimes his eyes would open or he would cough, showing small signs of life despite his suffering. The family sold property to pay for Harish’s treatment, but the burden became too much. AIIMS is still testing for possible organ donation and has recommended psychological support for his parents. Every step, from checking his vital signs to reporting to the court, follows strict medical rules. Harish was a BTech student at Punjab University in Chandigarh when he fell from the fourth floor in 2013 and became paralysed. Later, he developed bedsores and grew weaker.