Exit that shocked the nation

Deputy CM Ajit Pawar, four others killed in plane crash; Probe begins into the reasons for the crash Mumbai: Maharashtra Deputy Chief Minister Ajit Pawar and four other persons on board an aircraft were killed after it crashed near the Baramati airport in Pune district on Wednesday. Pawar had taken off from Mumbai in the morning to address four rallies in the day in Pune district for the February 5 zilla parishad elections. The others killed in the tragedy were Captain Sumit Kapoor, who had a...

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Deputy CM Ajit Pawar, four others killed in plane crash; Probe begins into the reasons for the crash Mumbai: Maharashtra Deputy Chief Minister Ajit Pawar and four other persons on board an aircraft were killed after it crashed near the Baramati airport in Pune district on Wednesday. Pawar had taken off from Mumbai in the morning to address four rallies in the day in Pune district for the February 5 zilla parishad elections. The others killed in the tragedy were Captain Sumit Kapoor, who had a flying experience of 15,000 hours, co-pilot Capt. Shambhavi Pathak with 1,500 hours of flying, Personal Security Officer (PSO) Vidip Jadhav and flight attendant Pinky Mali. The government released a statement detailing the sequence of events that led to the crash and Pawar's death. The aircraft, a Learjet, was cleared for landing in Baramati on Wednesday morning after a go-around due to poor visibility, but having finally received a clearance it did not give any read-back' to the ATC, and moments later burst into flames on the edge of the runway. In aviation parlance, a go-around is a standard procedure where a pilot discontinues a landing attempt and initiates a climb to fly another approach. It is used when a landing cannot be completed safely due to factors like poor weather, an unstable approach, or traffic on the runway. It is a proactive safety measure rather than an emergency. In aviation, a readback is a crucial safety procedure where a pilot repeats back the essential parts of a message or instruction received from Air Traffic Control (ATC). It acts as a "closed-loop" communication system, ensuring that the controller's instructions were heard and understood correctly by the flight crew. The aircraft was trying to land amid poor visibility, Civil Aviation Minister K Rammohan Naidu told reporters in Pune. The statement by his ministry recounted the final minutes of the ill-fated Learjet 45 belonging to VSR Ventures Pvt Ltd that crashed, leading to the death of all five persons on board, including Pawar. Fatal Flight The ill-fated aircraft was a Bombardier Learjet 45, a twin-engine business jet commonly used for corporate and charter travel. Designed to carry between six and nine passengers, the Learjet 45 has a range of approximately 2,000 nautical miles and is powered by twin turbofan engines. The aircraft involved in the crash belonged to a charter operator and was being used for a non-scheduled private flight.According to preliminary information from aviation authorities and Directorate General of Civil Aviation (DGCA) sources, the aircraft encountered severe weather conditions while approaching Baramati. Dense fog enveloped the Pune–Baramati region at the time, drastically reducing visibility and complicating the landing procedure. Probe Begins A team from the Aircraft Accident Investigation Bureau (AAIB) has reached the Baramati crash site to launch a forensic probe into the VSR Venture's Learjet 45 aircraft accident. "The investigation team has reached the (crash) site. They are on the work," the AAIB official told PTI. The official, however, declined to share further details. Earlier in the day, AAIB, which has the mandate to investigate all accidents and serious incidents/incidents involving aircraft with a gross weight of 2,250 kg or turbojet aircraft, was handed the probe into the crash. The aircraft, bearing registration VT-SSK, was being operated by the Delhi-based non-scheduled operator VSR Ventures Pvt Ltd. The crew was advised to descend in visual meteorological conditions at the pilot's discretion, the Civil Aviation Ministry said in its statement. At that time, the winds were calm, and visibility was around 3,000 metres, it said. Baramati airfield does not have an instrumental landing system - a precision radio navigation system that provides short-range guidance to an aircraft, allowing it to approach a runway at night, during bad weather and poor visibility. Ajit Pawar's last rites will be held with full state honours on Thursday in Baramati. Union Home Minister Amit Shah is expected to attend the funeral, which will be held at Vidya Pratishthan ground at 11 am. The Maharashtra government on Wednesday declared three days of state mourning across state till January 30 as a mark of respect to Ajit Pawar. The national flag will be flown at half-mast on all buildings where it is flown regularly. There will be no official entertainment during the mourning period. “Ajit's death was a big shock for Maharashtra, which has lost a hardworking and efficient leader. This loss is irreparable. Not all things are in our hands. A stand was floated from Kolkata that there is some politics involved in this incident. But there is nothing like this. There is no politics in it. It was an accident. I request not to bring politics into it.” Sharad Pawar, President, NCP (SP)

India bears the brunt: Nifty crashes 1,100, Sensex nosedives 3,900 points after US trade shock

Correspondent
Apr 7, 2025
2 min read

India woke up to a financial jolt this morning as its equity markets suffered their steepest fall in nearly a year, shaken by the ripple effects of US President Donald Trump’s aggressive new tariff regime. The Sensex plunged over 3,900 points at opening bell, while the Nifty tumbled more than 1,100 points, dragging Indian stocks to a 10-month low.

This sharp decline follows a global equity rout triggered by Trump's protectionist measures, which have sent panic waves across Asia and raised the spectre of a global recession. Investors dumped shares in a massive sell-off, with Indian benchmarks reacting sharply in early trade. The Sensex dropped to 71,425.01 — down 3,939.68 points — while Nifty slipped to 21,743.65, marking a 3.5% slide from the last session.

Adding to the pressure, the Indian rupee depreciated 30 paise to open at 85.74 against the US dollar.

India Among the Hardest Hit

Trump’s latest tariff hike — framed as a push to restore fairness to global trade — has imposed country-specific duties that go as high as 50%. India has been slapped with a 26% tariff, while a 10% baseline duty applies to all nations. This has set alarm bells ringing among Indian exporters and traders already struggling with global demand volatility.

President Trump, unfazed by the financial carnage, likened the move to a bitter but necessary cure. “Sometimes you need the medicine to fix something,” he told reporters earlier today.

Analysts Urge Economic Safeguards

Market experts believe that India's current market turmoil isn't rooted in domestic issues but is rather a consequence of being tightly woven into global investment flows.

“India will face the heat, not due to domestic reasons, but as an interlinked chain in the global portfolio flows,” said Ajay Bagga, a noted market expert. “India will need a fiscal, monetary, and reform package to protect the domestic economy from this global economic winter that is threatening to settle in.”

Sunil Gurjar, SEBI-registered research analyst, warned that the Nifty50 index has breached its first support level and is approaching the next. "A further breakdown could worsen the trend and accelerate the fall," he cautioned.

Asian Markets Bleed

The tremors from Trump's announcement were first felt in Asia, with key markets suffering steep losses. China's stock markets fell over 4% amid retaliatory tariffs of 34% against the US. Hong Kong's Hang Seng nosedived more than 10%, while Japan’s Nikkei index fell 6.5% after plunging 8% earlier in the day. Taiwan saw a near-10% collapse, and Singapore dropped over 8%.

Wall Street Braces for Impact

US markets, though yet to open, appear set for a rough start. Futures contracts on the New York Stock Exchange are sharply down, suggesting heavy losses once trading resumes.

Market sentiment globally has turned bearish, with fears of a looming recession taking hold. Stephen Innes of SPI Asset Management described the scene as “free-fall mode,” noting, “Trump’s team isn’t blinking. The tariffs are being treated as a victory lap, not a bargaining chip.”