logo
Will not part with fertile land: Protesting farmers

Will not part with fertile land: Protesting farmers

Time of India11-07-2025
Ludhiana: After farmers and farmer union members in Jagraon area staged a protest against the state government's land pooling scheme, members of farmers' organisations and residents of Baliyon village, Samrala also staged a demonstration outside the office of the SDM, demanding rollback of the scheme.
During the protest, led by Bhartiya Kisan Union (BKU), Kadian, protesters raised slogans against the policy. Later, under the leadership of BKU Kadian district president Hardeep Singh Kadian, they handed over a memorandum to SDM, Samrala, Rajnish Arora.
The protesters maintained that they would not give up their ancestral land and alleged that the state government and Glada (Greater Ludhiana Area Development Authority) wanted to take their land for vested interests.
Hardeep Singh said that farmers in the village were already facing losses and if their land was taken, they would be left with no means of livelihood.
He said that if the scheme was not retracted, the agitation would be intensified. A protester, Shingara Singh, said that they would rather die than give up their land. He added that if the government needed land, it could proceed with acquisition in hilly terrain but they would not part with fertile land.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
So sánh mức trượt giá: Hợp đồng tương lai (CFD) Bitcoin vs Ethereum
IC Markets
Tìm hiểu thêm
Undo
SDM Rajnish Arora said that he would inform Glada about the memorandum. He also said that he visited Baliyon village recently to tell farmers about the benefits of the scheme.
On July 7, residents of four villages—Malak, Poona, Kothe, and Aligarh in Jagraon area—supported by farmer organisations and opposition parties, staged a protest against the land pooling policy at Tehsil Chowk in Jagraon on Monday. The protesters demanded the scrapping of the policy and asserted that they wouldn't share land for the same.
Jagroop Singh Hasanpur, district vice-president, Bhartiya Kisan Union (Ekta Dakaunda), said that farmers would hold a protest sit-in outside the Glada office in Ludhiana against the policy on July 15. The Congress has also announced a protest at the same venue on July 14, whereas SAD declared that they would start a protest against the policy on July 15.
MSID:: 122390393 413 |
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

America's promotion of stablecoins could have global consequences
America's promotion of stablecoins could have global consequences

Mint

time10 hours ago

  • Mint

America's promotion of stablecoins could have global consequences

Donald Trump has imposed stiff tariffs on Indian goods entering the US market. This part of his disruptive mercantilist agenda to bring US trade with the rest of the world back into balance has quite naturally dominated news headlines over the past few months. The US is our biggest trading partner and economists have been sweating their spreadsheets to give us some initial estimates of how these higher tariffs will affect the Indian economy. Also read: As dollar gains ground, will India's high-net-worth individuals switch to stablecoins? Less attention is being paid to another ongoing shift in US policy. Trump wants to harness the growing popularity of digital finance to strengthen US economic power. His administration seeks to build a regulatory framework around stablecoins, or cryptocurrencies whose value is backed by fiat currencies such as the dollar. Trump has already signed into law the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). A stablecoin maintains a fixed rate of exchange with an underlying asset, unlike cryptocurrencies such as Bitcoin or Ethereum, whose price fluctuates every day, sometimes wildly. The reason for their price instability is that the supply of these cryptocurrencies is determined by a rigid algorithm, so prices bounce around depending on demand conditions. In contrast, since the main attraction of a stablecoin is its stable value against an underlying asset, issuers mint new tokens when there is higher demand for the stablecoin. That by definition means that issuers have to buy more of the underlying asset such as the US dollar. In other words, the growing use of stablecoins will create extra demand for their underlying assets. US Treasury Secretary Scott Bessent estimates that the value of dollar-backed stablecoins could hit $2 trillion in the next few years, nearly eight times their current value. The move to promote the use of stablecoins seeks to strengthen the dominance of the US currency in the global economy. The stablecoins that are currently available on crypto exchanges are predominantly backed by US dollar assets, according to data from the Bank of International Settlements. All this matters because national power depends not just on economic size, military power and technological dominance, but also on monetary heft. The US move to use cryptocurrencies to consolidate the importance of the dollar thus also deserves more public attention. Monetary affairs have been central to the Trumpian agenda. The widely read paper written by Stephen Miran, now chairman of the US council of economic advisors, argues that the American economy has paid a heavy price for providing the rest of the world its global reserve currency. Miran wrote his paper when he was working at Hudson Bay Capital. According to him, the demand for US dollars from countries that run trade surpluses keeps the US currency overvalued despite its trade deficit. In Miran's view, the overvalued dollar played a role in hollowing out US manufacturing. Also read: Reduce friction: Let regulated stablecoins transform India's remittance economy The Miran Doctrine in effect calls for a grand re-adjustment of exchange rates. The US dollar needs to weaken to reflect its trade balance. However, the move to provide a formal regulatory framework for stablecoins will have exactly the opposite effect. It seeks to increase the investment demand for US dollar assets such as government treasury bills. This is a profound contradiction that lies at the heart of Trumpian mercantilism. It also takes us back to an earlier paradox in international economics—the Triffin Dilemma—which shows that a country seeking to provide the global reserve asset needs to run a trade deficit. The Trump administration appears to believe that growing demand for stablecoins that have a fixed exchange rate with the dollar will maintain demand for underlying assets such as US government bonds. The flow of money into stablecoins backed by the dollar will lead to more buying of US government bonds, pushing down market yields. The current annual interest bill of the US government is close to a trillion dollars. If stablecoins backed by the US dollar get used more intensively in the coming years for international payments, remittances and private sector savings, then it will pose new challenges to monetary policymakers in other parts of the world. One issue is the future of central bank digital currencies that have been launched with much fanfare. They are claims on the national central bank, while a dollar-backed stablecoin will be a claim on the US Federal Reserve. That has consequences for the balance of monetary power. Another important challenge is the potential loss of monetary sovereignty. Research shows that stablecoin usage increases sharply during episodes of high inflation or financial stress, and so the ability of a central bank to manage money may be compromised in such situations. Capital controls will also be more difficult to protect in case people in a country begin to hold more international assets via stablecoins. Remittances could also begin to come into a country without flowing through the traditional financial system. Also read: Stablecoins are on the rise: Bond investors should pay attention The manic price volatility of regular cryptocurrencies such as Bitcoin make them poor monetary units for transactions and do not serve as useful units of account for the same reason. Stablecoins promise to avoid such problems by tethering their value to an underlying asset, even though there have been cases when their prices have diverged from their underlying asset values. The GENIUS Act will have implications for monetary management in other countries, including India.

US Steps Ahead In Crypto Race With GENIUS Act: What It Means For India And Emerging Markets
US Steps Ahead In Crypto Race With GENIUS Act: What It Means For India And Emerging Markets

News18

timea day ago

  • News18

US Steps Ahead In Crypto Race With GENIUS Act: What It Means For India And Emerging Markets

The US passed the GENIUS Act to regulate stablecoins and embed the dollar in digital finance. In the past weeks, the United States made its most decisive move towards becoming the nerve centre of the global digital asset economy. The passage of the landmark legislation, the GENIUS Act, marked the clearest indication that America intends to lead the next financial revolution, both at home and globally. The GENIUS Act, signed by President Trump into law, is a federal regulatory for stablecoins, a type of cryptocurrency which is pegged to a reference asset to ensure stability in its price. By regulating stablecoins, the US is now embedding dollar deeper into the fabric of digital finance, which presents strategic implications for India and other emerging markets. This means, the conversation in these markets can no more be about whether to engage in cryptocurrencies, but more about how to catch up without ceding ground to the US, and balancing policies for stablecoins denominated in their own fiat currencies. The CLARITY Act, passed by the House on July 17 with a 294–134 vote, is awaiting Senate action and would assign clear CFTC vs. SEC jurisdiction over digital assets, giving much needed clarity on regulatory definition for digital assets. After years of ambiguity around digital assets, this move unlocks a new era of innovation and institutional participation. As countries increasingly pursue regulations on digital assets in their own jurisdictions, it is becoming increasingly clear that the US aims to win the race on their adoption and regulation. While regulation matured on one side of the world, the market danced its familiar rhythm to these new tunes. Bitcoin led, reaching record highs of $1,23,000. Ethereum followed, and other altcoins rallied. XRP touched an all-time high of $3.66, rewarding those who held through years of dormancy. We are amid a full-blown bull market. Portfolios built patiently over years are now bearing fruit. For Indian investors, this moment brings with it, a chance for a shift in perspective. It is time to stay informed, agile and think long-term. Wealth is built in cycles but maintained through patience and persistence. Tech momentum continues via Layer 1, 2, RWA, and DApp expansion, building essential infrastructure and utility that can inform India's own digital asset frameworks. India and other markets are observing these developments closely, in order to build resilient and inclusive financial systems of their own. For us, the opportunity lies in learning from global progress, engaging with global standards, and giving way to frameworks that support adoption and innovation locally. With its deep roots in technology, rising investor interest, and highly equipped talent, India is well-positioned to leverage this momentum and contribute meaningfully to the digital asset landscape. India has the talent, interest, and urgency to engage by aligning with global frameworks, investing in blockchain infrastructure, and drafting stablecoin policies that preserve sovereign currency value while enabling growth to ensure long-term value for all stakeholders in this evolving ecosystem. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

Bitcoin price rises. Why cryptos are still under pressure.
Bitcoin price rises. Why cryptos are still under pressure.

Mint

timea day ago

  • Mint

Bitcoin price rises. Why cryptos are still under pressure.

Bitcoin and other cryptocurrencies were rising modestly early Monday after a sluggish weekend as President Donald Trump's latest flurry of tariffs had markets on edge. Bitcoin is up 0.7% over the past 24 hours to $114,552, according to CoinDesk data. The world's biggest crypto hit a seven-day low of $112,256 on Saturday. Ether was up 2.6% and XRP climbed 5%. Solana gained 1.1% while meme coin Dogecoin rose 3.3%. The biggest cryptos by market value are down over the past seven days with Solana leading the losses over the period, down 11%. Bitcoin is down 3% over the past seven days. The lukewarm performance of cryptos can be largely attributed to macroeconomic factors. Trump announced another wave of tariffs last week and the Federal Reserve decided to keep interest rates steady for now. A weaker-than-expected jobs report then spooked markets further on Friday. Even the White House crypto policy report released last week, and the Securities and Exchange Commission saying it would launch an agencywide effort named 'Project Crypto" a day later, failed to significantly lift crypto prices.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store