Exigencies of electoral politics and individual ambitions often stoke family feuds and sibling rivalries.
For five consecutive policy reviews in 2023, the Reserve Bank of India (RBI) chose to hold rates, citing inflation threat. And when the prices did cool off a bit, it reminded all about the target to get the headline consumer price inflation at 4 per cent and the risks from food inflation. Heading into the new year, all eyes are on when RBI will cut the rates, especially after one of the Monetary Policy Committee (MPC) members stressed on the need for such an action in the face of the US Federal Reserve's guidance for easing rates.
The overtures by CPI-M state secretary MV Govindan had upset the Congress that had, subsequently, accused the Left party of turning the UCC into a Hindu versus Muslim issue for gaining political mileage.
The alliance adopted a resolution to this effect and said its theme for the elections will be "Judega Bharat, Jeetega India, (India will unite, India will win)".
Retail inflation declined to a 25-month low of 4.25 per cent in May mainly on account of softening prices of food and fuel items, with experts saying that RBI is expected to hold interest rates steady in the current fiscal. This is the fourth straight month when retail inflation has declined and the third straight month of Consumer Price Index (CPI) based inflation remaining within the RBI's comfort zone of below 6 per cent. CPI-based inflation stood at 4.7 per cent in April and 7.04 per cent in May 2022.
According to Rajya Sabha MP and RJD spokesperson Manoj Jha, the CPI-RJD alliance could not be forged also because his party was not willing to compromise on its candidate Tanveer Hassan, considering his popularity and the work done by him in Begusarai.
Foreign flows into Indian equities are expected to pause in the short to medium term, say analysts. The outlook is influenced by multiple factors, including rising oil prices, actions from global central banks, climbing bond yields, and the dollar index gaining prominence. "Valuations appear rich with the markets at record highs.
'One Sandeshkhali won't turn around women's perception of Mamata Banerjee in this state'
Reserve Bank of India (RBI) Governor Shaktikanta Das had stumped the market in the previous two policies - in August and in October - first with action and then with words. In August, it was the introduction of an incremental cash reserve ratio (I-CRR) to take out excess liquidity, which took the markets by surprise. In October, there was no action. Rather, what is known as "open mouth operation", Das' comment that the central bank might conduct open market operations (OMOs) by selling bonds tempered the euphoria in the bond markets after JP Morgan's inclusion of India in its Emerging Market Bond Index.
'Whoever is questioning the government on the Adani issue is being harassed'
Retail inflation declined to an 18-month low of 4.7 per cent in April mainly due to falling prices of vegetables, oils and fats, and came closer to Reserve Bank's target of 4 per cent, showed government data released Friday. It was for the second month in a row that Consumer Price Index (CPI) based inflation remained within the RBI's comfort zone of below 6 per cent. The government has tasked the central bank to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side.
A careful reading of the national income accounts suggests that after a strong recovery from the pandemic, there has been a significant ebbing of dynamism over the last three quarters to more modest levels recently, note Arvind Subramanian and Josh Felman.
'The BJP is racing against its opponents by putting a chain on their legs.'
Macroeconomic data announcements, global factors and trading activity of foreign investors would be the key triggers for the domestic stock markets this week, analysts said. Last week, the benchmark indices joined the broader market's party despite a host of negative global cues. In the broader market, the BSE midcap and smallcap gauges hit their all-time highs on Friday.
Chowdhury said he has directed Congress workers to extend all cooperation to the CPI-M in fighting the July 8 polls.
The Centre on Monday banned the Communist Party of India-Maoist under the Unlawful Activities (Prevention) Act, calling it a terrorist organisation.
The other prominent gainers were Tech Mahindra, HCL Technologies, Wipro, State Bank of India and Larsen & Toubro. Bajaj Finserv, Power Grid, UltraTech Cement and HDFC Bank were among the laggards.
In a major victory for Tatas, an arbitral tribunal has awarded Tata Motors a compensation of over Rs 766 crore for the losses incurred because of protests by Trinamool Congress that stalled its small car project at Singur in West Bengal. The tribunal asked the West Bengal government to pay Tata Motors the compensation, along with interest, according to a stock exchange filing by the Mumbai-based auto major on Monday. The company stated that the arbitral tribunal has asked the West Bengal Industrial Development Corp (WBIDC) to pay the company Rs 766 crore compensation, in connection with losses incurred on its manufacturing site in Singur.
The 65-year-old leader had taken over as general secretary of the CPI-M from Prakash Karat in the 21st party congress, which was held in Visakhapatnam, in 2015.
The National Investigation Agency (NIA) on Monday arrested a top Maoist leader as it carried out raids at 62 locations across Andhra Pradesh and Telangana in the Communist Party of India-Maoist conspiracy case, an official said.
Singh defeated Bharatiya Janata Party's Dara Singh Chauhan in the bypoll to the Ghosi Assembly constituency in Mau district with a margin of 42,759 votes on Friday.
Kerala's election discourse operates surreptitiously. Its explicit face focuses on important national and local issues. At the same time, it seeks to secure apt communal equations to ensure votes, notes Shyam G Menon.
Tripura's outgoing chief minister Manik Sarkar will be shifting to his new residence - the Communist Party of India-Marxist's state committee office.
Scenes from the Opposition leaders' dinner meeting, in Bengaluru on Monday, July 17, 2023.
He also said there are leaders who stand firm in their ideology but their number is gradually declining.
The Congress and the Left parties have not only extended support to the Samajwadi Party candidate but are also campaigning for him, in accordance with the spirit of the new opposition togetherness ahead of next year's general election.
The Reserve Bank of India on Thursday marginally lowered its inflation projection for the current financial year to 5.1 per cent, as Governor Shaktikanta Das said the central bank's monetary policy actions are yielding the desired results. In April, the Reserve Bank had estimated the consumer price index (CPI) based retail inflation at 5.2 per cent during the fiscal 2023-24. CPI inflation fell sharply to 4.7 per cent in April 2023, from 6.4 per cent in February, on the back of favourable base effects, with softening observed across all the three major groups.
The BJP leads with 23 percent of its 90 Rajya Sabha members having declared criminal cases against themselves.
Communist Party of India-Marxist on Thursday trashed Bharatiya Janata Party's economic blueprint as 'semantic verbiage' akin to 'fascist demagoguery.
Bharatiya Janata Party workers on Sunday staged a demonstration outside the Communist Party of India-Marxist headquarters in New Delhi
India spends significantly less on defence than could be expected from a country that faces simultaneous armed threats from two hostile neighbours -- China and Pakistan.
Top leaders of 26 opposition parties were arriving in Bengaluru on Monday for a two-day brainstorming session with a call for unity and are expected to chalk out their joint programme aimed at defeating the Bharatiya Janata Party in the 2024 Lok Sabha elections.
The government expects onion prices to fall below Rs 40 per kilogram by January from the current average price of Rs 57.02 per kilogram, Consumer Affairs secretary Rohit Kumar Singh said on Monday. Last week, the government banned onion exports till March next year after the retail sales price of the kitchen staple crossed Rs 80 per kg in the national capital and the prices in mandis remained around Rs 60 per kg. To a query on when the onion prices are expected to fall below Rs 40 per kg, Singh said, "very soon... January"
Cricketer Yusuf Pathan will contest from the Baharampur Lok Sabha seat, whereas Kirti Aazd will fight from the Bardhaman-Durgapur constituency.
Asked how many seats the Congress would fight on, Singh said they would be flexible in seat sharing.
In a strategic move, the BJP has welcomed prominent Christian figures like Anil K Antony, son of Congress stalwart AK Antony, and seasoned Kerala politician PC George, into its fold.
Abu Khayer Miah, who had contested, on a Tipra Motha ticket, from the Boxanagar assembly constituency in the last elections held in February and conceded defeat, has been suspended, a party leader said.
The announcement was made after AICC general secretary Ajoy Kumar held a meeting with CPI-M state secretary Jitendra Choudhury on Friday evening.
The Congress had released 'Farmers Declaration', 'SC, ST Declaration' and 'Youth Declaration', comprising its promises to the Telangana voters in the assembly polls scheduled to be held in a couple of months.
The ruling Communist Party of India-Marxist on Monday took a veiled dig at the Congress by asking it to safeguard its newly elected Karnataka MLAs from being poached by the Bharatiya Janata Party as was allegedly done by the saffron party in Goa amidst the Bharat Jodo Yatra.
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