Category: Business

  • Indian Railways meets budget targets with timely completion of projects in 2024-25

    Railway freight corridor

    Indian Railways meets budget targets with timely completion of projects in 2024-25Pixabay

    Indian Railways has spent 76 per cent of its budgetary outlay within the first nine months of the current financial year, reflecting the timely implementation of projects to expand capacity and make travel safer, according to an official statement issued on Wednesday.

    The total Capital Expenditure (Capex) for railways in Budget Estimate 2024-25 is Rs 2,65,200 crore with Gross Budgetary Support of Rs 2,52,200 crore.

    As much as Rs 1,92,446 crore of this amount, has already been spent,

    According to a latest expenditure report of Indian Railways, Rs 1,198 crore of Capex took place in the first four days of this calendar year.

    The overall Capex of Indian Railways stands at 76 per cent with nearly three months still to go for the financial year to end.

    For rolling stock, the budgetary provision was Rs 50,903 crore, out of which Rs 40,367 crore was spent by January 5.

    Indian  Railway

    Indian Railways has been spearheading efforts to build an all-inclusive IndiaIANS

    The expenditure constitutes as much as 79 per cent of the budget allotted for rolling stock.

    Similarly, in safety related works, out of the budgetary allocation of Rs 34,412 crore, an amount of Rs 28,281 crore has been spent, which is 82 per cent of the allocated amount, the official statement highlighted.

    The government has prioritised transforming Indian Railways into a world-class entity, which ferries an average 2.3 crore Indians every day from one part of the country to the other at an affordable cost.

    The fruits of consistent Capex for the last one decade are visible in the form of 136 Vande Bharat trains, about 97 per cent electrification of broad gauge, laying of new lines, gauge conversion, doubling of tracks, traffic facilities work, investment in PSUs and metropolitan transport, the statement said.

    “This Capital Expenditure has led to faster, safer and world-class travel experience at a nominal cost to billions of Indians. With Vande Bharat sleeper trains at speed testing and safety certification stage, Rail commuters in India are all set to experience world-class travel very soon for long distance travel. This will revolutionise the overall travel experience,” the statement observed.

    Indian Railways has been spearheading efforts to build an all-inclusive India by investing in infrastructure, technology, and contributing in the direction of a ‘Future-ready’ rail transport system as the country progresses towards Viksit Bharat, the statement added.

    (With inputs from IANS)

  • Indian stock market opens flat, Nifty below 23,700

    Sensex closes flat, ICICI Bank and Bajaj Finserv top gainers

    Indian stock market opens flat, Nifty below 23,700IANS

    The domestic benchmark indices opened flat on Wednesday as selling was seen in the auto, IT, PSU bank, financial service, FMCG, metal, realty and media sectors.

    At around 9.28 am, Sensex was trading at 78,014.77 after dropping 184.34 points or 0.24 per cent, while Nifty was trading at 23,662.2 after declining 45.70 points or 0.19 per cent.

    On the National Stock Exchange (NSE), 749 stocks were trading in green, while 826 stocks were in red.

    Nifty Bank was down 117.25 points or 0.23 per cent at 50,084.90. Nifty Midcap 100 index was trading at 56,405.35 after dropping 463.95 points or 0.82 per cent. Nifty Smallcap 100 index was at 18,568.10 after declining 105.35 points or 0.56 per cent.

    According to market experts, the trend of strong US macros

    weakening emerging markets is continuing. The US 10-year bond yield has spiked to 4.67 per cent on better-than-expected jobs numbers and indications of the services sector doing very well.

    This means the Fed may hold rates in January leading to further strengthening of the dollar and rising bond yields.

    “The fall out of this on the Indian macros is that the RBI may hold rates in February against the market expectation of a cut. In this macro setting, FIIs are likely to continue selling, putting pressure on the market,” they added.

    Sensex snaps five-day losing streak, Nifty closes above 24,300

    Foreign institutional investors (FIIs) sold equities worth Rs 1,491.46 crore on January 7IANS

    Meanwhile, in the Sensex pack, Zomato, Tech Mahindra, Tata Motors, Infosys, IndusInd Bank, HCL Tech and HDFC Bank were the top losers. Maruti, Sun Pharma, Nestle India, L&T, PowerGrid, ITC, M&M, Axis Bank and Kotak Mahindra Bank were the top gainers.

    The Dow Jones declined 0.42 per cent to close at 42,528.36. The S&P 500 declined 1.11 per cent to 5,909 and the Nasdaq declined 1.89 per cent to close at 19,489.68 in the last trading session.

    In the Asian markets, Jakarta and Seoul were trading in green. While Hong Kong, China, Bangkok and Japan were trading in red.

    Foreign institutional investors (FIIs) sold equities worth Rs 1,491.46 crore on January 7 and domestic institutional investors bought equities worth Rs 1,615.28 crore on the same day.

    (With inputs from IANS)

  • Union Minister announces cashless treatment of up to Rs 1.5 lakh for victims of road accidents

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    Union Minister Nitin Gadkari announced a cashless treatment scheme. The Union Minister said that if the police is informed within 24 hours of the accident, the government will bear the cost of treatment.

    Along with this, he also announced compensation of up to Rs 2 lakh to the victim families in hit and run cases.

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    Now the central government is going to give a big relief to the victims of road accidents. Those injured in road accidents will be able to get cashless treatment. Union Minister Nitin Gadkari announced the cashless treatment scheme. Under this, the government will bear the cost of Rs 1.5 lakh for the seven-day treatment of accident victims. The Union Minister said that if the police is informed within 24 hours of the accident, then the government will bear the cost of treatment. Along with this, he also announced compensation of up to Rs 2 lakh to the victim families in hit and run cases.

    On Tuesday, Union Minister for Road Transport and Highways Nitin Gadkari held a meeting with the Transport Ministers of all the states and Union Territories at Bharat Mandapam. In this, transport related policies and cooperation between the Center and the State were discussed. After the meeting, the Union Minister said that we have started a cashless treatment scheme. Under this, if the police is informed within 24 hours of the accident, then we will pay the cost of treatment of the admitted patient for seven days and a maximum of Rs 1.5 lakh for treatment. Along with this, we will give Rs 2 lakh to the deceased in hit and run cases.

    The Union Minister said that road safety is the top priority of the government. In 2024, about 1.80 lakh people lost their lives in road accidents. Out of this, 30 thousand deaths occurred due to not wearing helmets. Also, 66 percent of the accidents happened with people aged 18 to 34 years. Apart from this, 10 thousand children died in accidents due to lack of arrangements at entry and exit points near schools, colleges and educational institutions. He said that rules have been made for auto rickshaws and mini buses of schools. We will try to reduce it.

    The pilot project was run in six states.

    To provide quick treatment in road accidents, the Union Ministry of Road Transport Highways had implemented the cashless treatment scheme as a pilot project in six states. Union Minister Nitin Gadkari said that this scheme has been successful as a pilot project in Assam, Punjab, Haryana, Chandigarh, Uttarakhand and Puducherry. So far, 2100 lives have been saved through this. Now it is being implemented in the entire country.

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  • Per capita nominal GDP in FY25 to grow by Rs 35,000 more than FY23: Economists

    Per capita nominal GDP in FY25 to grow by Rs 35,000 more than FY23: Economists

    IANS

    Despite a slowdown in real GDP growth, per capita nominal GDP in India is expected to increase significantly in FY25, by at least Rs 35,000 more than FY23, economists have said.

    The first advance estimate (AE) of GDP for FY25 by the National Statistical Office (NSO) indicates GDP growth at 6.4 per cent. The gross value added (GVA) growth is also estimated at 6.4 per cent. Nominal GDP growth is estimated to remain flattish, increasing by 9.7 per cent in FY25 (9.6 per cent in FY24).

    “Historically, the difference between RBI’s estimate and NSO’s estimate is always in the range of 20-30 bps and hence the 6.4 per cent estimate of FY25 is along expected and reasonable lines. We, however, believe that GDP growth for FY25 could be around 6.3 per cent, with downward bias,” said Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India.

    “Buoyed by robust policy measures and overlapping phy-gital public infra creation, in lockstep with formalisation of finance, Agriculture and Allied Activities are likely to grow by 3.8 per cent in FY25 (1.4 per cent previous year),” Dr Ghosh mentioned.

    Per capita nominal GDP in FY25 to grow by Rs 35,000 more than FY23: Economists

    lIANS

    Service sector, on the other hand, is likely to grow by 7.2 per cent in FY25, compared to a growth of 7.6 per cent in FY24.

    The heads that have positively contributed include the government consumption with a growth of 8.5 per cent in nominal terms (4.1 per cent in real terms) while exports have also held the forte with positive growth of 8 per cent (5.9 per cent in real terms).

    According to Nikhil Gupta, Chief Economist, MOFSL Group, NSO estimates suggest a revival in consumption and moderation in investments in the second half of FY25.

    “Private consumption is likely to grow 7.8 per cent YoY in 2H FY25 (vs 6.7 per cent/4 per cent in 1H/FY24), govt consumption is estimated to grow 6.1 per cent in 2H (vs 2 per cent/2.5 per cent) and total investment is seen to increase 5.8 per cent vs 6.5 per cent/9.4 per cent,” said Gupta.

    Rajani Sinha, Chief Economist, CareEdge Ratings, said that consumption growth is estimated to accelerate in H2 compared to H1.

    “Healthy agri growth and likely moderation in food inflation should help boost consumption in the months to come. Sustained consumption growth will also help pull in private investment,” she mentioned.

    (With inpus from IANS)

  • Hartek wins Rs 117 crore order from Power Grid Corporation (PGCIL)

    Chandigarh, 08 January 2025 – Hartek Group’s Power system business unit, has secured a ₹117 crore project in Gujarat from Power Grid Corporation of India Limited (PGCIL), India’s largest power transmission company. The project involves the extension of a 765kV AIS substation as well as 400/220kV substation work.

    This milestone highlights Hartek’s commitment to further strengthen India’s grid infrastructure with reliable, high-quality power solutions while enhancing transmission efficiency and supporting renewable energy integration to meet the country’s growing energy demands.

    Commenting on the milestone, Simarpreet Singh, Group Executive Director & CEO – Hartek Group, said, “Securing this critical project from PGCIL marks a significant achievement for us and highlights our leadership in the Extra High Voltage (EHV) segment. It demonstrates our ability to deliver complex, large-scale transmission solutions that are essential to India’s evolving energy infrastructure. This project is a vital addition to the nation’s grid expansion efforts, and we are proud to contribute to reliable power delivery and renewable energy integration. As we continue to grow, projects like these strengthen our market position and reinforce our commitment to excellence in the power sector.”

    765kV substations are instrumental in enhancing India’s power transmission capacity, thereby aligning with the Central Electricity Authority’s (CEA) projections of substantial grid expansion in the coming years. Such projects play a vital role in ensuring grid stability and meeting the country’s ambitious energy goals. Hartek continues to establish itself as a frontrunner in the EPC (Engineering, Procurement, and Construction) sector, with major high-voltage projects completed across India. This latest win not only strengthens Hartek’s position in the EHV segment but also underscores its ability to deliver large-scale, complex power transmission projects.


    Sujata

  • Fog Disaster! Railways has cancelled many trains on this route till 10th January, check the list before going to the station

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    Train Cancelled: Due to fog, many rail services of different states have been affected but the passengers traveling from Bihar are the most affected. Railways have canceled many trains going from Bihar till January 10. You can get information about canceled trains here.

    Fog and cold are wreaking havoc in North India. Due to fog, visibility is becoming zero. Apart from this, the schedule of many trains is also getting disturbed every day. In such a situation, if you are also planning to travel somewhere, then this news can prove to be useful for you. Actually, due to fog, many trains of Indian Railways have been canceled till January 10. If you also have a ticket till January 10, then before going to the station, definitely check the list of canceled trains here.

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    Trains going to Bihar were cancelled

    Although fog has affected many rail services of different states, but it is affecting the passengers traveling from Bihar the most. Railways has canceled many trains going from Bihar till January 10. Here we have given you the list of canceled trains…

    These trains were canceled till January 10

    • Train number 55074 Barhni-Gorakhpur unreserved special train is cancelled till January 10.
    • Train No. 55073 Gorakhpur-Bardhni unreserved special train is cancelled till January 10.
    • Train number 55056 Gorakhpur-Chhapra unreserved special train is cancelled till January 10, 2025.
    • Train number 55055 Chhapra-Gorakhpur unreserved special train is cancelled till January 10, 2025.
    • Train No. 55036 Gorakhpur Cantt-Siwan Unreserved Special Train is cancelled till January 10, 2025.
    • Train number 55035 Siwan-Gorakhpur Cantt unreserved special train is cancelled till January 10, 2025.
    • Train number 55038 Thawe-Siwan unreserved special train is cancelled till January 10, 2025.
    • Train No. 55037 Siwan-Thaw unreserved special train is cancelled till January 10, 2025.
    • Train number 55098 Gorakhpur Cantt-Narkatiyaganj unreserved special train is cancelled till January 10, 2025.
    • Train number 55097 Narkatiaganj-Gorakhpur Cantt unreserved special train dated 10 January, 2025 is cancelled.
    • Train No. 55048 Gorakhpur Cantt-Narkatiyaganj Unreserved Special Train is cancelled till January 10, 2025.
    • Train number 55047 Narkatiaganj-Gorakhpur Cantt unreserved special train is cancelled till January 10, 2025.

    If the train is cancelled, how much and how will I get the refund?

    If the train is cancelled, passengers get a full refund through an automatic process. However, if you have cancelled the train ticket for your own reasons, you may have to pay some charges.

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  • Many Cryptocurrency Enthusiasts Realize Passive Income Through BCHMiner

    Newport, CA, 8th January 2025- BCH Miner cloud mining platform company with clean energy was founded in August 2016 and is headquartered in Newport, UK. It has advanced cryptocurrency mining equipment, sites, maintenance facilities and cheap clean electricity. If you want to mine, BCH Miner is very suitable for cryptocurrency enthusiasts. You don’t need any equipment to participate in mining and easily earn passive income.

    How to mine in the cloud:

    1: Register now to get a $10 bonus (can be used to earn $0.5 for daily check-ins).

    2: Choose a contract: After successfully registering, the next step is to choose a mining contract that suits your goals and budget. BCHMiner offers a variety of contracts to meet different needs, whether you are a beginner or an experienced miner. Take a close look at the available options and consider factors such as contract duration, potential returns and related costs.

    Choose a contract that suits your investment strategy:

    ⦁ Experience contract: investment amount: $100, total net profit: $100 + $6.

    ⦁ Basic contract: investment amount: $500, total net profit: $500 + $32.

    ⦁ Smart Contract: Investment amount: $2,800, Total net profit: $2,800 + $812.

    ⦁ Classic Contract: Investment amount: $8,000, Total net profit: $8,000 + $5,016.

    ⦁ Premium Contract: Investment amount: $11,000, Total net profit: $11,000 + $9,099.

    ⦁ Super Contract: Investment amount: $40,000, Total net profit: $40,000 + $47,120.

    For more information about the new contracts, visit the official website of the BCH Miner platform: bchminer.com

    3: Start making profits: Once you have selected and activated your mining contract, you can sit back, relax, and let the system do the work for you. BCH Miner’s advanced technology ensures that your mining operation runs efficiently, maximizing your potential earnings.

    As your mining activities progress, you will begin to see profits accumulating in your account. Track your performance through the platform’s dashboard and withdraw your earnings when you are ready. BCHMiner Platform Advantages:

    1: Cutting-edge equipment: Using mining equipment provided by top mining machine manufacturers such as Bitmain, Shenma Miner, Canaan Creative, etc., ensures the stable operation and efficient production capacity of Bitcoin miners.

    2: Legitimacy and global audience: The platform was legally established in the UK in 2016, protected and issued by the British government, and has attracted more than 5 million real users around the world with cutting-edge technology.

    3: Intuitive interface: The platform’s user-friendly interface ensures that even cryptocurrency novices can easily navigate.

    4: Support for a variety of popular cryptocurrencies: such as DOGE, BTC, ETH, USDC, USDT, BCH, LTC, etc. for settlement

    5: Stable income: The contracts launched by the platform have income every 24 hours, and the principal is automatically returned after the contract expires.

    6: Professional team: The platform has an experienced IT team and 24/7 real-time customer service team support to ensure that users can solve problems in a timely manner.

    7: Affiliate program: allows you to recommend friends and get up to $20,000 in referral bonuses.

    In summary:
    BCH Miner is a legally registered company in the UK, engaged in network encryption technology services, authorized and regulated by the UK Financial Services Authority, and abides by local laws and regulations. Since its establishment in 2016, it has gained the trust of more than 5,000,000 users. The company’s mission is to make cloud mining accessible to everyone, providing state-of-the-art technology and large industrial data centers that can be accessed from anywhere and any device.


    Rabindra

  • Ring in the Festivals this Month with a quick getaway to Skyview by Empyrean

    ATV ride

    As people across North India bid adieu to winter with vibrant festivals like Lohri, Pongal, and Makar Sankranti, you make the most of the long weekend in January by packing in a quick getaway to Jammu’s premium mountain harbour – Skyview by Empyrean.

    Located in the Sanget-Patnitop valley in Jammu and spread across 22 acres of lush greenery with views of the majestic Pir Panjal range, Skyview is the ideal go-to destination for sky-high celebrations!

    Here’s how you can ring in Lohri, Pongal, and Makar Sankranti at the premium property that blends adventure, luxury, nature, and hospitality!

    Lohri: A Bonfire of Joy

    Celebrated on January 13, Lohri marks the end of the harsh, cold wave in Northern India, welcoming long, sunny days. This Punjabi festival sees families gather around bonfires, sing folk songs and dance the night away. People offer sweets, peanuts, puffed rice, and popcorn to the flames, symbolizing gratitude for and wishing for prosperity in the coming year.

    Imagine dancing around a crackling bonfire to great music and gorging on delectable dishes prepared by the in-house chef surrounded by the most beautiful nature views this Lohri! For a truly exhilarating experience, don’t miss the chance to glide above the city on Skyview’s iconic in-house gondola. It offers exceptional luxury experiences blending comfort, elegance, and the natural beauty of the Himalayas. Guests can choose from beautifully designed luxury rooms and spacious suites, each offering stunning panoramic views of the surrounding landscapes. Select Luxury Rooms feature private balconies, ideal for soaking in the serene ambiance of the Sanget Valley in Patnitop.

    Pongal and Makar Sankranti: A Celebration of Harvest

    Following Lohri, celebrations for the harvest festival Pongal and Makar Sankranti – the day the sun transitions from the Southern to the Northern Hemisphere – begin on January 14. These festivals are celebrated in both north and south India and call for spending quality time with family and friends. Why not make the most of it and travel to Jammu’s most sought-after destination – Skyview by Empyrean?

    Embrace the great outdoors with thrilling activities offered on the premium property like Asia’s longest zig-zag zip-line, scenic hiking trails, mountain biking, a magic carpet ride, India’s first dry tubing sledge, ATV rides, and archery! Guests can also enjoy a delightful culinary journey at the Banana Leaf Restaurant, which serves a thoughtfully curated menu of regional and global cuisines. Skyview by Empyrean promises an unforgettable experience, blending luxury and adventure in a serene Himalayan setting.

    Hands of Gold: A Shopping Extravaganza

    No visit to Skyview would be complete without exploring the artisanal boutique store named Hands of Gold, the on-site shopping haven. Here, you can browse through a delightful selection of traditional Kashmiri handicraft items such as papier mache, honey, stoles, shawls, spices, etc., all locally sourced and handmade with love by local artisans of Kashmir.

    Join us at Skyview by Empyrean to celebrate the arrival of the new harvest season while creating cherished memories with your loved ones.


    K S Krishna

  • CGHS New Rules: Government changed the rules for CGHS beneficiaries, check details immediately

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    CGHS New Rules : The government has made new rules for CGHS cardholders. Now no private hospital can refuse to treat CGHS cardholders and members. They cannot be given a lower category hospital bed.

    Also, they cannot charge above the rate card given by the government. The Union Ministry of Health and Family Welfare has issued new guidelines to resolve complaints of overcharging and refusal to provide service to the beneficiaries of Central Government Health Scheme (CGHS). The purpose of these instructions is to provide correct, affordable and transparent health service to CGHS beneficiaries.

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    Government changed the rules for CGHS beneficiaries

    1. Compulsory treatment

    CGHS-empanelled hospitals cannot deny treatment to any eligible beneficiary. The Health Ministry clarified that all services will be provided without any discrimination.

    2. Transparency in cost and service

    Hospitals will be required to provide information related to treatment at prominent places. This will include the rates mentioned by CGHS. Status of beds available in wards and ICU. It will be necessary to provide information about the ward category fixed for the beneficiaries. Hospitals will not be able to provide the following categories. Doing so will be prohibited for hospitals. It will be necessary to provide information about the empanelment city of the hospital, credit eligibility and contact of the nodal officer.

    3. Mandatory reporting

    Hospitals must report emergency cases, non-referral cases and direct visits and admissions of beneficiaries above 70 years of age within 24 hours to the concerned Additional Director of CGHS via email. Unreported cases will not be accepted.

    4. Accountability in serious cases

    In case of death or coma of the patient, it will be mandatory for the hospital to provide the signature and contact details of the attendants of the beneficiary on the final bill.

    5. Prescription rules

    Prescriptions must use only generic names and be written in capital letters. Hospitals cannot force you to buy a particular brand.

    6. Permission will have to be taken first for expensive treatment

    Hospitals will have to take permission in advance for expensive treatments. So that unnecessary or excessive charges can be avoided.

    7. Penalty will be imposed for not following the rules

    Hospitals that do not follow the guidelines may face penalties, including removal from the CGHS network. These new guidelines will help protect the rights of CGHS beneficiaries and provide them with affordable and transparent treatment services.

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  • Tata Neu Supercharges Savings with Newly Launched Fixed Deposits Marketplace

    Tata Neu Launches Fixed Deposits Marketplace to Boost Savings Potential
New Delhi, January 07, 2025: Tata Digital announces its expansion into the retail investments space with the launch of its Fixed Deposits Marketplace on Tata Neu. This innovative platform empowers its customers to invest in fixed deposits with leading financial institutions at interest rates of up to 9.1%, without the need for a savings bank account.

    Investing is now easier and more accessible than ever. In just 10 minutes, Tata Neu customers can start their investment journey with as little as INR. 1,000, all through a seamless digital process. This opens the door to financial empowerment for everyone, regardless of their initial capital. With bank investments insured up to INR. 5 lakh by the Deposit Insurance and Credit Guarantee Corporation (DICGC), consumers get safety and complete peace of mind.

    “Fixed deposits have long been a trusted choice for building a safe and stable investment portfolio,” said Gaurav Hazrati, Chief Business Officer, Financial Services, Tata Digital. “With our Fixed Deposit Marketplace, we aim to democratize access to high-yield, fixed-return instruments from multiple trusted providers. This simple and secure platform is designed to offer competitive interest rates, empowering both seasoned investors and newcomers to grow their wealth confidently and effortlessly.”

    Vishal Singh, Head – Digital Banking, Suryoday Small Finance Bank said, “Suryoday has always aimed to offer competitive interest rates for fixed deposits to its customers. Our digital deposit product offers customers the convenience to open, operate and liquidate deposits entirely online. Partnering with Tata Digital expands our reach, allowing us to offer innovative products like this to a wider customer base.”

    Parag Sharma, CFO & MD, Shriram Finance added, “Shriram Finance is happy to partner with Tata Digital for our Fixed Deposit offering on Tata Neu. We offer better returns with additional benefits for women customers and senior citizens. This partnership will ensure a seamless and hassle-free FD booking experience for customers.”

    Customers stand to benefit further as more banks are set to join the Fixed Deposit marketplace on Tata Neu. Tata Neu will also launch recurring deposits to enable regular and systematic investments.


    Mansi Praharaj