The Reserve Bank on Wednesday lowered the inflation projection for the current fiscal to 4 per cent from 4.2 per cent earlier, taking into account good agricultural output and falling crude prices.
Retail inflation slowed to a four-month low of 5.22 per cent in December compared to 5.48 pc in November, mainly due to easing of prices in food basket, according to government data released on Monday. The inflation based on Consumer Price Index (CPI) was 5.48 per cent in November and 5.69 per cent in December 2023.
The killing of CPI-Maoist general secretary Nambala Keshav Rao alias Basavaraju, the topmost leader by security forces in Chhattisgarh, is a major setback for the banned outfit. Basavaraju, who was on the most wanted list of the NIA, was among the 27 dreaded Naxals killed by security forces in Chhattisgarh's Bastar region. The Telangana Police official said that the killing will be a demoralising factor for the Maoists. The official pointed out that the Maoists are already demoralised and hundreds of their cadres have surrendered before Telangana police besides many being arrested.
Moderate turnout was recorded in the first four hours of polling across five assembly constituencies across Punjab, West Bengal, Gujarat and Kerala where bypolls are underway on Thursday.
A heated debate erupted in the Rajya Sabha over the ongoing strike by ASHA workers in Kerala, with Congress and CPI(M) MPs trading accusations over responsibility for addressing their demands for a higher honorarium and post-retirement benefits. Congress MP Jebi Mather alleged that both the Kerala government and the Union government had ignored the workers' pleas, while CPI(M) MP John Brittas countered by claiming Kerala provides the highest honorarium to ASHA workers. The debate also saw demands for an AIIMS in Kerala and a hike in MBBS seats, as well as concerns over maternal health, elderly care, and mental health in India.
The Supreme Court has agreed to hear petitions challenging the Election Commission's decision to revise electoral rolls in Bihar. The hearing is scheduled for July 10.
Originally Friday (June 6) was marked as holiday for Bakrid. However, following the reports that the festival would be celebrated on Saturday across the state, on Thursday, the Kerala government announced that Saturday, June 7, will be a public holiday for Bakrid.
The accused has been arrested on the basis of an FIR lodged by the woman at Haridevpur Police Station, they said.
'You can say it was a moment that can be described as unimaginable or unbelievable.'
The Reserve Bank of India (RBI) has projected retail inflation at 4.2 percent for the next financial year beginning April while retaining the forecast for 2024-25 at 4.8 percent. The central bank attributed the expected easing of inflation to good kharif production, winter-easing in vegetable prices and favorable rabi crop prospects. However, the RBI also noted that continued uncertainty in global financial markets coupled with volatility in energy prices and adverse weather events presents upside risks to the inflation trajectory.
Retail inflation eased to a nearly six-year low of 3.16 per cent in April mainly due to subdued prices of vegetables, fruits, pulses, and other protein-rich items, creating enough room for the Reserve Bank to go for another round of rate cut in the June monetary policy review. The Consumer Price Index (CPI) based inflation was 3.34 per cent in March and 4.83 per cent in April 2024. It was 3.15 per cent in July 2019.
The change in stance to neutral from accommodative in the June monetary policy meeting does not necessarily signal that the Reserve Bank of India's (RBI's) rate setting body - monetary policy committee (MPC) - will go on a prolonged pause on rate cuts going forward, believe experts.
Navigating a history of animosity and mistrust, negotiations for a potential Congress-Trinamool Congress alliance in West Bengal face significant challenges while addressing the shared adversary of the Bharatiya Janata Party, with the Bengal Congress unit appearing reluctant to engage in an electoral pact.
A student activist and "independent journalist" from Kerala, Rejaz M. Sheeba Sydeek, has been arrested in Nagpur for allegedly "preparing to wage war against the Government of India." The arrest was made after Sydeek allegedly condemned Operation Sindoor, an Indian Armed Forces operation against terror targets in Pakistan, and criticized operations against Naxalites on his Instagram account. Police found a book about professor G N Saibaba, who faced trial for alleged links with Naxalism, and another about Marxism-Leninism in Sydeek's bag. An English letter seized from his possession appeared to criticize the Indian government for anti-Naxal operations and called for "peace talks between the Indian state and the (banned) CPI (Maoist)".
If the threat from the 'Maovadis' (Maoists) is fading, the danger now lies with the 'MoUvadis' -- those who might exploit the resource-rich Abujhmad region through corporate or State-backed projects.
Senior Congress leader Shashi Tharoor welcomed the revival of long-stalled India-UK FTA negotiations, posting a selfie with Union Commerce and Industry Minister Piyush Goyal and the UK's Secretary of State for Business and Trade Jonathan Reynolds. Tharoor's post comes amid a row over his recent article praising the Kerala government's investment climate, which drew criticism from some Congress leaders.
Aam Aadmi Party's Gopal Italia on Monday won from Gujarat's Visavadar assembly constituency and his party also retained Punjab's Ludhiana West seat while the Congress-led United Democratic Front wrested Nilambur from the ruling Left Democratic Front in Kerala, according to results of assembly bypolls in four states.
Leaders of several INDIA bloc parties met the Election Commission over the Special Intensive Revision of electoral rolls in Bihar and raised concerns over its timing, alleging that over two crore voters of the state may be disenfranchised by this mammoth exercise being done just ahead of assembly elections.
Retail inflation slipped to seven-month low of 3.61 per cent in February mainly due to easing prices of vegetables, eggs, and other protein-rich items, creating space for the RBI to go for another cut in interest rate next month.
In an eventful week ahead, stock markets may face volatile trends before the RBI's interest rate decision and the US inflation data announcements, as investors continue to assess the broader implications of US tariffs on global economy and inflation, analysts said. Investors fear that a full-blown trade war will impact global trade and economic growth, according to market experts.
A CBI court in Kerala sentenced 10 individuals to life imprisonment for the murder of two Youth Congress workers in 2019. Four others, including a former CPI(M) MLA, received five years in prison. The court found the accused guilty of murder and criminal conspiracy, citing political rivalry as the motive. The case involved the deaths of Kripesh and Sarath Lal P K, who were allegedly killed by CPI(M) workers in Kasaragod district. The verdict sparked reactions from both the Congress and CPI(M), with the Congress calling it a blow to the CPI(M)'s violent political culture and the CPI(M) challenging the verdict and claiming political motives in the CBI investigation.
West Bengal Chief Minister Mamata Banerjee has defended her support for teachers who were dismissed following a Supreme Court verdict, accusing the BJP and CPI(M) of "hatching a conspiracy" to influence the ruling. She dared the BJP to arrest her for supporting the affected candidates, while asserting that her government will abide by the verdict but explore all legal options. The development has triggered political reactions with the BJP demanding Banerjee's resignation, while the CPI(M) expressed concern over the impact on the education system. Banerjee also criticized the BJP's handling of the Vyapam scam in Madhya Pradesh, drawing parallels to the school jobs scam in West Bengal.
From the Sensex firms, Tata Steel, Eternal, Tech Mahindra, Maruti, Mahindra & Mahindra, Infosys, IndusInd Bank, HCL Tech, Tata Consultancy Services and Bharti Airtel were the major gainers. Telecom operator Bharti Airtel climbed nearly 1 per cent after it posted about a five-fold jump in consolidated net profit to Rs 11,022 crore in the March 2025 quarter, mainly due to the tariff hike impact and one-time gain on tax benefits. However, Asian Paints, Tata Motors, Kotak Mahindra Bank, NTPC and Power Grid were among the laggards.
The Reserve Bank of India's (RBI) Monetary Policy Committee's (MPC) decision to cut the repo rate by 50 basis points (bps) to 5.5% was contrary to the expectations of many economists. Firstly, most of the economists expected the MPC to cut the repo rate by 25 bps citing the weakening of inflation, prospects of economic growth, geopolitical uncertainty and comfortable system liquidity.
Kerala Governor Rajendra Vishwanath Arlekar asserted that there would be no compromise on Bharat Mata.
The Indian government briefed an all-party meeting on Thursday on the success of "Operation Sindoor", the retaliatory airstrikes against Pakistan following the Pahalgam terror attack. Top government functionaries and opposition leaders met for a second time in a fortnight amid rising tensions between India and Pakistan. The meeting was chaired by Union Home Minister Rajnath Singh and attended by several prominent leaders from various political parties. The government highlighted the strikes on nine terror targets in Pakistan and Pakistan-occupied Kashmir, including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba's base Muridke.
Fada estimates that global supply chain headwinds like scarce availability of rare earth elements for electric vehicle components and geopolitical tensions may affect urban consumer sentiment in June as well.
'We will inform them how Pakistan not only helps terrorists, it also provide training to them to target India and spread terror.'
According to the CPI-M, Aleida, who arrived in Chennai from Thiruvananthapuram, is likely to attend a party meeting on Tuesday and will participate in a public reception on Wednesday.
From the Sensex shares, IndusInd Bank jumped 7.12 per cent. Axis Bank, Adani Ports, Asian Paints, Bharti Airtel, State Bank of India and ITC were also among the gainers. Maruti, Infosys, Tata Motors, Larsen & Toubro, NTPC and Bajaj Finance were among the laggards.
As votes for the Delhi assembly polls were counted on Saturday, latest data of the Election Commission showed that NOTA option got 0.57 per cent vote share as compared to 0.55 pet cent of the Bahujan Samaj Party and 0.01 per cent of Communist Party of India-Marxist.
Investors' sentiments will be guided by a host of domestic and global macroeconomic data announcements this week, along with the trading activity of foreign investors and trends in world stocks, analysts said. Besides, the rupee-dollar trend and movement of global oil benchmark Brent crude will also be crucial in dictating terms in the market, experts added.
A massive anti-Naxal operation involving around 10,000 security personnel along the Chhattisgarh-Telangana border entered its fifth day on Friday, with the Maoists reportedly issuing a statement calling for a halt to the exercise and initiating "peace talks." The statement, circulating on social media, claims that the government is resorting to repression and violence despite the possibility of resolving the issue through dialogue. The operation, considered one of the largest counter-insurgency actions in the Bastar region, involves personnel from various units including the Chhattisgarh police, the Central Reserve Police Force (CRPF), and its elite CoBRA unit. The operation, launched on Monday in the densely forested hills of Karregutta and Durgamgutta along the inter-state border, is aimed at targeting PLGA battalion No. 1, the strongest military formation of the Maoists.
Global trends, macroeconomic announcements and US tariff developments are expected to drive stock markets in a holiday-shortened week, analysts said. Market participants will also closely track foreign investor activity, geopolitical tensions, and their impact on the US dollar and crude oil prices, they added.
The Web portal of the Organiser, the RSS mouthpiece, published an article (withdrawn later) that the Christian community holds many acres of land, far more than Waqf property.'
The CPI-M's allegations were termed a political conspiracy by the opposition Congress which accused the Left party of stooping low to target its political opponents.
Gold prices tumbled by Rs 1,550 to Rs 91,450 per 10 grams in the national capital on Monday amid heavy selling by jewellers and stockists as well as weak global trend, according to the All India Sarafa Association. On Friday, the precious metal of 99.9 per cent purity had finished at Rs 93,000 per 10 grams.
Retail inflation slowed to 5.48 per cent in November compared to 6.21 per cent in October, mainly due to easing food prices, especially vegetables, according to government data released on Thursday. According to Consumer Price Index (CPI) data released by the National Statistics Office (NSO), the inflation in the food basked reduced to 9.04 per cent in November. It was 10.87 per cent in October and 8.70 per cent in November 2023.
Security forces killed at least 26 Naxalites in a fierce exchange in Bijapur district of Chhattisgarh, while four more were gunned down in Kanker district, the state's Deputy Chief Minister Vijay Sharma said on Friday. The encounter, which occurred on Thursday, took place while the Naxalites were gathered for a Tactical Counter Offensive Campaign (TCOC) meeting, a period observed between March and June. The Deputy CM hailed the operation as a major achievement against the Naxals.
Wholesale price inflation dropped to 0.85 per cent in April as prices of food articles, manufactured products, and fuel eased, government data showed on Wednesday. WPI-based inflation was 2.05 per cent in March. It was 1.19 per cent in April last year.
