Today's News in Media:Khel Ratan Award To 4 Athletes; Railways Setup 30k Cr Fund; Sensex Falls On Urjit's Promotion FW ERI BOI

Your Tuesday Morning Briefing By Arihant Pawariya Good Morning, Swarajya Readers! Here's What You Need To Know Today. INFRA Indian Railways is in the process of creating a fund of Rs 30,000 crore for setting up Railways of India Development Fund (RIDF). The main goals of the fund will be the expansion and modernisation of rail infrastructure through the implementation of remunerative projects across the country. This essentially means that the RIDF will invest only on those projects which have a high rate of return. And since freight lines are more financially rewarding compared to passenger lines, the RIDF will focus on laying and developing more of the former. URJIT EFFECT On the first day of the trading post the announcement of Urjit Patel as the next RBI governor, Sensex witnessed a fall of 0.33 percent or 91.46 points to close at 27,985.54 points. The rupee fell to the lowest in nearly a month against the US dollar. The 10-year bond yield, which travels opposite to the prices, gained 6 basis points, its most since 24 August 2015. Patel's elevation has dashed hopes of the market of any rate cut in future given the Consumer Price Inflation (CPI) has already breached the six percent level, the top ceiling of the RBI-government target. KHEL RATNA Rajiv Gandhi Khel Ratna, the country's highest sports award, will be conferred upon four athletes this year. Shuttler PV Sindhu, wrestler Sakshi Malik, gymnast Dipa Karmakar and ace shooter Jitu Rai are set to be honoured. Dipa's coach Bishweshwar Nandi and Virat Kohli's mentor Raj Kumar Sharma will be conferred with the Dronacharya award. Boxer Shiva Thapa, long distance runner Lalita Babar, cricketer Ajinkya Rahane, hockey players VR Raghunath and Rani Rampal will receive the prestigious Arjuna award. NEW RULES The Election Commission has amended its rules. From now onwards, performance over two consecutive general or assembly elections, as opposed to one, would be the measure to determine the status of national or state parties. This means that parties like the BSP, the CPI and the NCP who suffered a drubbing in the last general election and faced a loss of tag of the 'national party' will get to keep it. If they had lost their national party status, the EC could have given their existing party symbols to any other party. Currently, there are six national parties: BJP, Congress, BSP, NCP, CPI and CPI (Marxist); and 64recognised state parties in India. GROWTH OUTLOOK The credit rater, Moody's has said that India's growth outlook is positive. It expects that the policies over the next one and a half year will support sustained growth, accompanied by narrower fiscal deficits, low current account deficits, increased savings and investment, and inflation that is within the central bank's targets. However, it has raised concerns over the health of the banking sector which is sitting on a pile of Rs 6.3 lakh crore of bad loans. Here is how it sees India presently: Economic strength: High (+) Institutional strength: Moderate (-) Fiscal Strenght: Low (-) Susceptibility to event risk: Moderate (-) MUST READ OP-EDS Haryana's Sports Culture: The state has built an enviable sporting culture thanks to state support, incentives and accessible facilities. India's Cab Regulation Woes: A government that prides itself on using technology should ensure that technology innovation is not smothered at the altar of appeasing sub-scale, often sub-standard, incumbency.​ Will America de-financialize?: One can tentatively stick one's neck out and predict that inequality is more likely to drop than rise further in the US. SWARAJYA SPECIAL Europe And The Islamic Veil: It is Fair To Ask Immigrants To Follow Host Nation Values. Both cultures benefit from this deal which promotes syncretism and compromise. We hope you enjoyed reading our morning brief. Please reply to this mail to give your feedback. Have a great day ahead! SUBSCRIBE NOW: Get the Swarajya Print Issue - 3 months subscription for only Rs 349. The latest issue of our magazine is about the antiquity of Indian society. Do check it out here. Swarajya Apps: Enjoy reading this morning brief and all articles from Swarajya on your mobile. Download our Android and iOS Apps.