After having decided to abstain from voting in the Presidential poll, the Communist Party of India on Wednesday extended support to United Progressive Alliance's nominee Hamid Ansari for his re-election as vice president.
'In Kerala, we are part of the government and our MLA is a minister there. These units understood the situation that made us to go with the BJP and supported our move. Our minister in the Left party's government (K Krishnankutty) in Kerala has given consent to us'
Reserve Bank Governor Shaktikanta Das on Friday stressed that the monetary policy must remain actively disinflationary to ensure that the decline in inflation from its peak of 7.44 per cent in July continues smoothly. Addressing the Kautilya Economic Conclave 2023, he also said price stability and financial stability complement each other and it has been an endeavour at RBI to manage both efficiently. Retail inflation declined to a three-month low of 5.02 per cent annually in September on account of moderation in vegetables and fuel prices, and was back within the Reserve Bank's comfort level.
West Bengal Chief Minister Mamata Banerjee on Monday said that the Bharatiya Janata Party might conduct the Lok Sabha polls in December itself, claiming that all choppers have been booked by the saffron party for campaigning.
The Reserve Bank of India on Thursday opted for a pause second time in a row, maintaining key benchmark policy rate at 6.5 per cent as inflation moderates. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) unanimously decided to keep the rate unchanged at 6.5 per cent.
The meeting of the 14-member all-important panel of the opposition will take place at the residence of Nationalist Congress Party leader Sharad Pawar in New Delhi on September 13 evening.
'Everyone's voice must be heard. We will be talking to both Kukis and Meiteis'
Retail inflation fell to a 15-month low of 5.66 per cent in March, mainly due to a decline in food prices, government data showed on Wednesday. The inflation figure in March is within the RBI's comfort zone as it is below 6 per cent. The retail inflation based on Consumer Price Index (CPI) was 6.44 per cent in February 2023 and 6.95 per cent in the year-ago period.
The CPI-M elects a new general secretary to replace Prakash Karat who steps down after three terms.
The Reserve Bank is likely to maintain status-quo on the key interest rates for the third time in a row in its upcoming bi-monthly policy review despite the US Federal Reserve and the European Central Bank hiking benchmark rates, as domestic inflation is within the RBI's comfort zone, say experts. The borrowing cost which started rising in May last year has stabilised with RBI keeping the repo rate unchanged at 6.5 per cent since February when it was raised from 6.25 per cent. In the previous two bi-monthly policy reviews in April and June the benchmark rate was retained.
Top leaders of Opposition parties will brainstorm at a meeting in Patna on Friday to chalk out a roadmap for the formation of an anti-Bharatiya Janata Party front for the 2024 Lok Sabha polls, with sources saying that they would look to avoid the prickly leadership question and emphasise on common ground.
"The CPI-M, which is facing its downfall, is attempting to come back through violence," Shah said, adding that the BJP would reply to it through votes.
Fissures appear to have emerged in the Indian National Developmental Inclusive Alliance (INDIA) as its two key allies, the Congress and the Trinamool Congress, on Thursday clashed over seat sharing for the upcoming Lok Sabha polls in West Bengal.
The opposition Bharatiya Janata Party and the Communist Party of India-Marxist dubbed it a "cheap poll gimmick" to woo minority votes.
All six members of the Reserve Bank of India's (RBI's) monetary policy committee (MPC) expressed caution over food inflation during the December review, while two external members warned about high real interest rates as headline inflation approaches its target of 4 per cent. The central bank continued to maintain the status quo on both the repo rate and the stance in the December monetary policy. India's retail inflation in November rose to 5.5 per cent - its fastest pace in three months - due to higher food prices.
'Those giving voice to the voiceless should be welcomed, not punished.' 'Yes, I paid a price -- 10 years in jail -- but it wasn't only me who did so. There are many paying the price.'
The CPI said if the Congress-led United Progressive Alliance government introduces a bill or a resolution in the Parliament for formation of Telangana state, the party would support it.
Rahul claimed that the Assam CM has taken land in Kaziranga National Park.
It will be clear whether the voters preferred the Chief Minister K Chandrasekhar Rao-led regime for a third term or the "six guarantees" by the Congress worked any miracles or the BJP's BC chief minister 'mantra' wooed the electors or if there will be a fractured verdict, by tomorrow evening.
Among Sensex stocks, Wipro gained the most by 3.29 per cent. Ultratech Cement, Reliance Industries, Hindustan Unilever, Nestle, NTPC, M&M, HDFC Bank, ITC, Kotak Bank and Axis Bank were among the winners. On the other hand, HCL Tech fell the most by 1.24 per cent. SBI, TCS, Infosys, IndusInd Bank and Tata Steel also dropped.
TDP Telangana unit president Ramana said they favoured a 'grand alliance' for the elections in the interest of Telangana people.
Deputy Commissioner of Police (New Delhi) Jatin Narwal said they have received a complaint in this regard and a probe has been initiated.
The ongoing second quarter earnings, movement of oil benchmark Brent crude and the uncertainty in the Middle East would dictate terms in the domestic markets this week, analysts said. Furthermore, the activities of Foreign Institutional Investors (FIIs) will also influence trading in the markets. "A slew of earnings reports from heavyweights expected this week will significantly impact market direction.
The bench sought a reply within one week and posted the matter for further hearing on September 16.
However, finding the funds to fulfill them will be a herculean task.
A BJP delegation arrived in Nuh on Wednesday to meet administrative officials and take stock of the situation in the violence-struck district, even as a delegation by AAP was stopped on its way to the district.
Scenes from day two of the Opposition conclave in Bengaluru on Tuesday, July 18, 2023.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Sources said the committee is also expected to underline its unhappiness at the conduct of some opposition members during its proceedings and make a mention of it in its recommendations to the House.
The Congress should take the lead in resolving differences of opinion within the Indian National Developmental Inclusive Alliance (INDIA) and show 'large-heartedness' in seat sharing to emerge as a viable alternative to the Bharatiya Janata Party in upcoming elections, according to some opposition leaders.
The Supreme Court on Monday held as maintainable the PIL filed by Bilkis Bano, who was gang-raped while seven of her family members were killed during the 2002 communal riots in Gujarat, against the state government's decision to grant remission to 11 convicts in the case.
The Supreme Court on Monday quashed the Gujarat government's decision to grant remission to 11 convicts in the case of gangrape of Bilkis Bano and murder of seven of her family members during the 2002 riots in the state, saying the orders were "stereotyped" and passed without application of mind.
Rejecting Orissa government's formula of excluding 300 acres of private land from the proposed Posco site area near Paradip, the Communist Party of India (CPI) on Friday demanded that the entire site be shifted elsewhere and an official statement made about its overall impact on the state.
Seeking to capitalise on the large number of non-Congress and non-Bharatiya Janata Party parties having "substantial support and strength in the country," the All India Anna Dravida Munetra Kazhagam and the Communist Party of India-Marxist on Monday entered into an alliance in Tamil Nadu for Lok Sabha polls.
The opposition parties, the BJP and CPI-M on Thursday dubbed the Railway Budget "imaginary" and "document of dreams" as there was no allocation for completion of various railway proposals in it.
GDP growth of 7.7 per cent in the first half of this fiscal has "left sceptics gasping and woefully behind the curve", an RBI article said on Wednesday. It also stressed the buildup in the growth momentum is likely to be sustained. The article on the state of the economy published in the Reserve Bank's December Bulletin on Wednesday also said CPI-based retail inflation is expected to ease to 4.6 per cent in the first three quarters of 2024-25 from 5.6 per cent in November.
Renewed inflationary pressures, led by a spike in prices of vegetables and cereals, have cast a spell on the equity markets in the past month. The BSE Sensex and Nifty50 have declined up to 2 per cent each during the period, clipping the 13 per cent rally from the March lows, shows data from ACE Equity. Investors typically consider shares of fast-moving consumer goods (FMCG) companies as defensive bets, putting their weight behind them in a falling market.
A small-scale businessman was found dead at his house in Kottayam in Kerala, following which the family members raised grave charges against a Karnataka-based private bank on Tuesday.
With the declaration of results for the Tripura Assembly polls on Thursday, the Bharatiya Janata Party returned to power in the state by winning 32 seats and its ally Indigenous People's Front of Tripura (IPFT) winning one.
Cracking the whip, Communist Party of India-Marxist on Wednesday removed its Idukki district secretary M M Mani from his post for his controversial speech that the party had eliminated political foes in the past, which had embarrassed the organisation and invited an all round condemnation.
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