'Who among Opposition party MPs has so much power that they raise some issue and the government implements it? The answer is no one except Raghav Chadha.'
The Indian government and opposition parties are set for a showdown in Parliament over a Constitution amendment bill concerning the implementation of the women's quota law and the delimitation exercise. The Opposition is concerned about the potential impact of delimitation on the political representation of southern states.
Several opposition parties on Wednesday decided to jointly oppose the delimitation provisions in the Constitution amendment bill in Parliament, even as they reiterated support for women's reservation, with Mallikarjun Kharge alleging the move is politically motivated.
The 16th Finance Commission, led by Arvind Panagariya, has recommended maintaining the states' share in central taxes at 41% for the five-year period starting April 1, 2026. The government has accepted this recommendation, with Rs 1.4 lakh crore allocated to states for FY 2026-27 as Finance Commission Grants.
India's state-level fiscal rules have improved headline deficits, but the gains are fragile and uneven with major states still grappling with high debt levels, a World Bank report submitted to the 16th Finance Commission (FC) said. According to the report, despite nearly two decades of adoption of fiscal responsibility laws (FRLs), debt levels have not converged.
Hockey star Hardik Singh lone recommendation for Khel Ratna; Divya, TJ & Mehuli for Arjuna
The government has extended the tenure of the 16th Finance Commission by one month till November 30. The 16th Finance Commission was constituted by the government on December 31, 2023, with former Niti Aayog vice-chairman Arvind Panagariya as its Chairman.
'What we see now is a much stronger need for data sovereignty.'
July has so many interesting films to choose from!
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.
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.
Union Home Minister Amit Shah informed the Lok Sabha that the situation in Manipur is largely under control, with no deaths reported in the last four months. However, he acknowledged that the situation cannot be considered satisfactory as displaced people are still living in relief camps. Shah attributed the violence to a high court decision regarding a reservation-related dispute, emphasizing that it was not terrorism-related but ethnic violence between two communities. He highlighted government efforts to establish peace, including discussions with both the Meitei and Kuki communities and a rehabilitation package for the displaced. While the opposition supported the resolution confirming the imposition of President's rule, they urged for a swift return to peace and normalcy in the state.
West Bengal Chief Minister Mamata Banerjee has slammed the Maha Kumbh as a "Mrityu Kumbh" (Death Kumbh), accusing the Uttar Pradesh government of suppressing the actual toll in the stampede that occurred at the religious gathering. Banerjee also criticized the lack of planning and management at the event, highlighting the plight of Bengal residents who died in the stampede. The BJP, however, has condemned Banerjee's remarks, calling her an "anti-Hindu chief minister" and accusing her of political opportunism.
Some elements are creating obstacles in the path of India's development and are fearful of its rise on the global stage, but they will not succeed, he asserted.
Amid demands for snapping trade ties with China for its transgressions on the border, former Niti Aayog vice chairman Arvind Panagariya has opined that cutting trade with Beijing at this juncture would amount to sacrificing India's potential economic growth. Instead, Panagariya suggested that India should try to enter into free trade agreements (FTA) with countries such as the UK and the European Union to expand its trade. "Engaging China in a trade war at this juncture will mean sacrificing a considerable part of our potential growth... purely on economic grounds, it will be unwise to take any action in response to it (transgressions on the border)," the eminent economist told PTI.
Equity markets will take cues from global trends and trading activity of foreign investors, while in the latter part of the week the first quarter earnings from IT majors TCS and HCL Technologies would guide investor sentiments, analysts said. Markets may consolidate after the record rally last week, experts added. "On the domestic front, the Q1 earnings season begins this week. Key companies such as TCS and HCL Technologies will release their earnings on July 11 and 12, 2024, respectively.
The last batch of quarterly earnings, global trends and trading activity of foreign investors will guide the equity market movement in a holiday-shortened week ahead, analysts said. Volatility may continue amid investors' cautious approach in the election season. Markets will remain closed on Monday due to the fifth phase of the Lok Sabha elections in Mumbai.
Suspended Trinamool Congress MP Kunal Ghosh on Monday alleged that West Bengal Chief Minister Mamata Banerjee was the biggest beneficiary of Saradha Media, an arm of the Saradha Group embroiled in a multi-crore chit fund scam, during his deposition before a city court.
Domestic macroeconomic data announcements, global trends and trading activity of foreign investors would guide market sentiments this week, analysts said. After a record rally, markets may face volatile trends this week amid elevated valuations and investors would also keep a track of global oil benchmark Brent crude and rupee-dollar movement for further cues. "Potential volatility in the stock market is anticipated this week. Elevated valuations remain a concern, with investors now focusing on monsoon progress and its impact on the rural economy.
Investors should view the increase in the LTCG tax rate in conjunction with the increase in capital gains exemption from Rs 1 lakh to Rs 1.25 lakh, which will provide some relief.
Trading in the equity market will largely depend on two major events this week - general elections result and the RBI interest rate decision - analysts said, adding that the benchmark indices may rally on Monday on exit polls' prediction of a massive win for the BJP-led NDA and strong GDP data. Exit polls on Saturday predicted that Prime Minister Narendra Modi will retain power for a third straight term, with the NDA expected to win a big majority in the polls. Counting of votes will take place on June 4.
Saradha scam accused Kunal Ghosh on Monday threatened to commit suicide if the CBI did not take proper action against 'those involved' within three days in front of a magistrate when he was produced before a city court.
Geopolitical events, macroeconomic data and quarterly earnings of corporates would guide the stock market in a holiday-shortened week ahead, analysts said. Stock markets will remain closed on Wednesday for Ram Navami. "This week promises to be crucial for the market as fresh worries about a potential conflict between Iran and Israel emerge.
Stock markets would take cues from the upcoming macroeconomic data announcements and global trends besides keeping a watch on the trading activity of foreign investors, analysts said. The last batch of the ongoing earnings calendar would trigger stock-specific action, traders said. "This week, we have to deal with macroeconomic data on both the domestic and global front.
Trends in the global markets, trading activity of foreign investors and announcement of domestic macroeconomic data are the major factors that would drive investors' sentiment in a holiday-shortened week ahead, analysts said. Benchmark indices had a record-breaking rally in the past week driven by impressive GDP data. Equity markets would remain closed on Friday for Mahashivratri.
Three years after India declared its goal to become a net-zero economy by 2070, the policy design for achieving the target has begun, with the NITI Aayog forming dedicated multi-sectoral committees to prepare a transition plan. In 2021, India joined a select group of nations that set a target year for becoming net-zero carbon economy. At COP26 in Glasgow, Prime Minister Narendra Modi outlined a five-pronged 'Panchamitra' climate action target for India and committed to a net-zero target by 2070, joining nations like the US, the UK, and China.
A city court on Friday remanded suspended Trinamool Congress MP Kunal Ghosh to seven days' judicial custody after he dramatically recused his lawyer from speaking for him and then pleaded for either bail or CBI custody to 'assist' the agency in its Saradha chit fund scam probe.
The Reserve Bank of India's interest rate decision, macroeconomic data and global trends will drive investors' sentiment this week, with markets hoping to continue the positive momentum after ending FY24 on a buoyant note, analysts said. In addition, the trading activity of foreign investors, the rupee-dollar trend and the movement of global oil benchmark Brent crude would also influence trading in equity markets. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in the 2023-24.
Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said. Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said. "On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year.
These elections will be remembered for the AAP and Arvind Kejriwal, feels Neeta Kolhatkar.
Prime Minister Narendra Modi had hoisted the national flag and addressed the nation from the ramparts of the Red Fort. He said that it was an occasion to remember freedom fighters who laid down their lives for the freedom of the country.
Narendra Modi said "corona warriors have lived the mantra of 'Seva Parmo Dharma' and served the people of the country.
Equity markets would take cues from domestic inflation data announcement, global trends and trading activity of foreign investors in a holiday-shortened week ahead, analysts said. Markets would remain closed on Tuesday for 'Diwali Balipratipada'. "As we enter a truncated week with Muhurat trading on Sunday, global cues will play a pivotal role in shaping the market direction.
Suspended Trinamool Congress MP and Saradha scam accused Kunal Ghosh on Friday allegedly tried to commit suicide by taking sleeping pills inside the Alipore Central Jail, West Bengal Correctional Home Services Minister H A Swafi said.
The speech he gave in which he accused the Congress of getting black money in tempos from Ambani and Adani is remarkable.' 'It is a self-goal for sure, but indicates someone who has lost control, someone who is rattled.'
Stock markets will be largely driven by global trends and macroeconomic data announcements in a holiday-shortened week which may see volatility amid monthly derivatives expiry, say analysts. Equity markets will remain closed on Monday for Gurunanak Jayanti. Trading activity of foreign investors and the movement of the rupee against the dollar will also be tracked by investors.
Stock markets will be largely driven by global trends in the absence of any major domestic triggers this week, say analysts. The trading activity of foreign investors, global crude oil prices and rupee-dollar movement will also influence market movement, they said. "Anticipating a period of consolidation in the absence of clear global cues, the market's trajectory will likely hinge on the movement of the US bond yields, the dollar index, and crude oil prices, as well as institutional flows.
Global trends, trading activity of foreign investors and movement of oil benchmark Brent crude would dictate terms in the domestic markets this week, analysts said. Equity markets, which fell nearly 3 per cent last week, may face volatile trends amid the monthly derivatives expiry on Thursday. "This week marks the September month Futures and Options (F&O) expiry, which is expected to bring about volatility in the market," said Santosh Meena, Head of Research, Swastika Investmart Ltd.
The US Federal Reserve's interest rate decision, global cues, macroeconomic data announcements and the ongoing quarterly earnings are the major triggers that will dictate trends in stock markets this week, analysts said. Besides, the trading activity of foreign investors and the movement of global oil benchmark Brent crude will also be tracked. "All eyes are on the outcome of the US Federal Reserve meeting scheduled for November 1, particularly due to the multi-year high levels of the US bond yields.
Global trends, trading activity of foreign investors, outcome of state elections and RBI's interest rate decision are the major factors that will drive the movement in the domestic equity markets this week, analysts said. "Global markets are currently in a fabulous mood. The US 10-year bond yield and the dollar index are also cooling off, which gives strength to the market. These factors will be closely monitored, as they have the potential to influence market sentiment," said Pravesh Gour, senior technical analyst, Swastika Investmart Ltd. On the political front, the results of assembly elections in five states are eagerly anticipated, Gour said.
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