Deepak Tilak, Lokmanya Tilak's great-grandson, passes away in Pune
According to Tilak's family members, he was suffering from age-related ailments for the last few months.
Tired of too many ads? go ad free now
He is survived by his son, daughter and grandchildren.
Tilak was respected for continuing the rich legacy of nationalist thinker and social reformer Lokmanya Tilak. He served as the vice-chancellor of Tilak Maharashtra Vidyapeeth (TMV) in Pune. He was a respected figure in the academic, social and journalistic circles.
Chief minister Devendra Fadnavis, offering condolences, said Tilak's demise was a big lossto the educational, cultural and social sectors.
"He guided several youngsters who went on to contribute in the field of journalism, academics and management. He ensured that the legacy of Lokmanya Tilakcontinued," Fadnaviswrote in a social media post.
Deputy chief minister Ajit Pawar also offered condolences and said his contribution to the social circle was inspirational. "Tilak was a multifaceted personality. He wasa thinker, a sensitive journalist and a selfless social worker.
His contribution to promoting the Japanese language was lauded even by the Japanese govt," he said.
NCP (SP) chief Sharad Pawar also paid his respects to Tilak.
"While he was the vice-chancellor of TMV, he raised the standard of education and supported students. He carried forward the rich legacy of the Tilak family and contributed a lot to the social life," Pawar wrote on his X handle.
The last rites of Deepak Tilak were performed at Vaikunth crematorium in the afternoon.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
2 hours ago
- Indian Express
How could Japan's election affect economic policy?
Japan's Liberal Democratic Party ruling coalition may lose its majority in the upper house in an election on Sunday, which could heighten calls for the government to boost spending and cut tax. Here is a guide on how the election outcome could affect Japan's fiscal and monetary policy: Recent media polls show the LDP coalition could lose its majority, heightening the risk of political instability when the country is struggling to strike a trade deal with the US, and stoking fears of an increase in debt. Japan's debt burden is the highest in the developed world at about 250% of GDP. Prime Minister Shigeru Ishiba is regarded as a fiscal hawk, but concern over possible increased spending by parties to ensure political support on Tuesday pushed up bond yields to multi-decade highs. Yields may rise further if the chance of big spending or a sales tax cut increases. If the election loss is small, Ishiba could remain prime minister and seek opposition parties' cooperation to pass bills through parliament. Faced with a big defeat, Ishiba could step down and his party will hold a leadership race to choose a successor. Depending on the extent of loss, there is a slim chance a new premier could be chosen from an opposition party. Regardless of the election outcome, Japan will increase spending as Ishiba has pledged to offer cash payouts to households to ease the cost of living. The estimated 3.5 trillion yen ($23.6 billion) in payouts will be funded by tax revenues. But spending may balloon if the LDP coalition suffers a big loss, as it would heighten calls from within the party and opposition forces to take bolder steps to cushion rising living costs. Some analysts expect Japan to compile an extra budget around autumn this year to fund spending of at least 10 trillion yen, which will likely require additional debt issuance. Japan's sales tax rate is set at 10%, except for food items at 8%. Ishiba has shunned opposition calls to slash the sales tax, which funds social welfare costs for a rapidly ageing population. An election defeat could force Ishiba to cut sales tax, which would leave a huge hole in Japan's finances. Excluding proceeds from debt issuance, the sales tax is Japan's biggest source of revenue. In fiscal 2025, it collected 25 trillion yen, or 21.6% of total budget. Analysts say halving the tax rate would cut revenues by over 10 trillion yen. A sales tax cut will require passing legislation through parliament, so will not take place until April at the earliest. A worst-case scenario is a credit rating downgrade on Japan's sovereign debt, which could trigger a triple selling of bonds, yen and Japanese stocks – and boost the cost of dollar funding for Japanese banks. Moody's Ratings has said an increase in tax cut pressure could be negative for Japan's rating depending on the size and duration of the cut. It rates Japan A1, the fifth-highest level. The ruling coalition has given a quite nod to gradual interest rate hikes, as has the biggest opposition Constitutional Democratic Party of Japan. If the clout of other smaller opposition parties increases, the BOJ could come under pressure to go slow in rate hikes. But the BOJ's long-term rate hike path is unlikely to be affected unless Ishiba is replaced by vocal advocates of bold monetary easing like Sanae Takaichi, who Ishiba narrowly defeated in a LDP leadership race last year.
Time of India
3 hours ago
- Time of India
Japan bonds tread water as wary investors await weekend election
Japanese government bonds held steady on Thursday as the market turned calm in the final run-up to potentially pivotal upper house elections , following a selloff earlier in the week that sent long-term yields to record peaks. Recent polls suggest the ruling coalition is seen as increasingly unlikely to retain its majority, ceding more power to opposition parties backing consumption tax cuts as a way to ease the burden from rising consumer prices . Explore courses from Top Institutes in Select a Course Category Technology MBA PGDM Others Degree Artificial Intelligence Data Analytics CXO Product Management Operations Management Management others MCA Data Science Finance healthcare Leadership Cybersecurity Healthcare Project Management Public Policy Data Science Design Thinking Digital Marketing Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 15 Most Beautiful Women in the World Undo Prime Minister Shigeru Ishiba 's administration has so far eschewed that option in favour of cash handouts. Bonds Corner Powered By Japan bonds tread water as wary investors await weekend election Japanese government bonds stabilized as the market awaited upper house elections, following a selloff driven by concerns that the ruling coalition might lose its majority. This potential shift in power, favoring parties advocating consumption tax cuts, had previously pushed long-term yields to record highs. RBI plans bond switch to ease redemption load Central banks ramp up buying at euro zone bond sales SBI board approves fundraising of up to Rs 20,000 crore via bonds; stock jumps 2% Fixed income market outlook: why short-term bonds may outperform in 2H 2025 Browse all Bonds News with The fiscal implications of a defeat for Ishiba in this Sunday's vote saw 20- and 30-year yields surge to record highs on Tuesday of 2.65% and 3.20%, respectively. Those yields retreated sharply on Wednesday, though, and in the latest session, the 20-year yield remained flat at 2.57%, while the 30-year yield increased by 0.5 basis point (bp) to 3.07%. Live Events The 10-year yield eased 0.5 bp to 1.565%. It vaulted to its highest level since October 2008 at 1.595% earlier this week. "The possibility of the ruling coalition losing its majority in this weekend's upper house election has already been mostly priced in, but it is unclear what the coalition framework will be after that," said Miki Den, a senior rates strategist at SMBC Nikko Securities . " Investors are reluctant to take on new positions." Benchmark 10-year JGB futures were flat at 137.96, after pushing to the lowest since March 28 at 137.70 on Wednesday. Bond yields move inversely to prices. The five-year JGB yield and two-year yield each declined by 0.5 bp to 1.075% and 0.78%, respectively.
Time of India
4 hours ago
- Time of India
'Study China like a diligent student not American B-schools': Zoho's Sridhar Vembu says Indian intellectuals 'teaching nonsense'
Zoho founder Sridhar Vembu urges India to emulate China's industrial transformation, criticizing the dominance of American business school ideologies in the Indian corporate world. He slammed Indian intellectuals for promoting consumerism among the poor, advocating instead for prioritizing production and job creation. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India should study China like a diligent student and not the American business schools Zoho founder Sridhar Vembu . The enterpreneur today took to social media platform X to also slam Indian intellectual charlatans for 'teaching nonsense'He said the miracle of China's transformation from the "cheap labor, cheap goods" label to world-leading tech-driven industrial prowess is dawning on America's elite."We in India must study China like a diligent student. Unfortunately the ideas that dominate the Indian corporate world are still mostly from American business schools (and often Indian professors!)," Vembu wrote."It is those business schools that caused the decline of American prowess by teaching spurious doctrines like "shareholder value". The Chinese (like the Japanese before them) had no fascination with American business schools," Vembu added in the scatching remarks on Indian teachers, he wrote, "We have had intellectual charlatans like C K Prahalad teaching nonsense like "wealth at the bottom of the pyramid" i.e, big companies should sell to the poorest people."Vembu argued that 'the only wealth at the bottom of the pyramid comes from transforming the poorest people into *producers* not consumers, first'."Yet this basic intellectual confusion between production and consumption still persists. Notice the "financial inclusion" language we often hear - all it amounts to in practise in rural India is "let's push even more debt to people who are already drowing in debt"," he to the Zoho founder, poor Indians needs jobs."What our poor citizens need is the opportunity for productive work, first and foremost: jobs, jobs, jobs. Consumption only after production. Expense only after income," he wrote in the also said that bad philosophy is extremely costly to people and nations. "China recovered from Mao's disastrous philosophy. We can recover from Prahalad but we must first understand why that is wrong. I am planning an industrial pilgrimage to China soon," he added in the post.
