Just eight months after its good showing in the Lok Sabha polls, the Indian National Developmental Inclusive Alliance (INDIA) seems to be running out of steam with internal bickering and conflicting ambitions resulting in diminishing electoral returns that have once again put the Bharatiya Janata Party in the driver's seat in national politics.
Earlier in the day, rich tributes were paid to Yechury at the Communist Party of India (Marxist) headquarters at the AKG Bhavan here, where his mortal remains were brought from his residence in the morning.
'Growth, liquidity and deposit mobilisation are likely to be discussed during the interaction.'
The Maha Vikas Aghadi of the Congress, the Nationalist Congress Party-Sharadchandra Pawar, and the Shiv Sena-Uddhav Balasaheb Thackeray on Wednesday announced to contest 85 seats each in Maharashtra assembly elections even as deliberations to seal a final seat-sharing pact are still underway.
The Bharatiya Janata Party-led Mahayuti coloured Maharashtra a vivid saffron on Saturday as it swept aside the Maha Vikas Aghadi for a landslide win while the opposition Indian National Developmental Inclusive Alliance (INDIA) retained Jharkhand, voters in both states giving the parties in power an emphatic thumbs up.
The Reserve Bank on Wednesday retained the retail inflation projection at 4.5 per cent for fiscal 2024-25, with Governor Shaktikanta Das stressing that the central bank will have to closely monitor the price situation and keep the "inflation horse" under tight leash lest it may bolt again. Unveiling the October bi-monthly monetary policy, the Governor also said the flexible inflation targeting (FIT) framework has completed 8 years since its introduction in 2016 and is a major structural reform of the 21st century in India.
Earlier on Monday, two women Naxalites were killed and one CoBRA jawan was injured in an encounter during the same operation, they said.
Union Finance Minister Nirmala Sitharaman's call for making lending rates affordable may not resonate anytime soon as banks still struggle with margin compression, and await clues from the Reserve Bank of India (RBI) on liquidity and rate action. Hinting that any lending rate cut was some time away, State Bank of India (SBI) managing director Vinay M Tonse said there was still some aggression in the market regarding deposit pricing.
The CPI-M leader was fluent in Hindi, Telugu, Tamil, Bangla, and also Malayalam. He was also well-versed in Hindu mythology, and often used those references in his speeches especially to attack the BJP.
Finance, ICICI Bank, Mahindra &h Mahindra, Kotak Mahindra Bank and Titan were among the gainers. Bharti Airtel, Adani Ports, Tech Mahindra, Reliance Industries, Axis Bank, Larsen & Toubro were the laggards.
The Kerala unit of the Congress instantly gets a headache when Shashi Tharoor lets loose one of his observations showering flowers on enemy territory. With every such action triggering controversy within a nervous Congress party, some feel it is high time Tharoor showed a degree of solidarity with the ideals of his party, notes Shyam G Menon.
The Reserve Bank of India's (RBI's) caution on inflation, highlighted during the recent monetary policy meeting, may put investors' faith in fast moving consumer goods (FMCG) stocks to test, analysts said. They, however, believe FMCG stocks may ride through this near-term investor anxiety as related companies are, typically, well-equipped to handle inflation due to their pricing power and steady demand for essential goods.
Outgoing Reserve Bank Governor Shaktikanta Das said on Tuesday that restoring inflation-growth balance is the most important task ahead of the central bank. Addressing a press conference on his last day as the central bank chief, Das said his successor will have to navigate the changing world order, effectively deal with cyber threats, and focus on harnessing new technologies.
Soaring vegetable prices pushed the retail inflation rate to a nine-month high of 5.49 pr cent in September, according to government data released on Monday. The consumer price index (CPI)-based retail inflation rate was 3.65 per cent in August and 5.02 per in September 2023. The previous high inflation rate was witnessed in December 2023 at 5.69 per cent.
Among the 30-share Sensex blue-chip pack, Bharti Airtel, ITC, Kotak Mahindra Bank, Hindustan Unilever, Titan, UltraTech Cement, HCL Technologies, and Power Grid, were the biggest gainers. Tata Steel, IndusInd Bank, JSW Steel and Bajaj Finserv were the laggards.
India's opposition parties have sharply criticized the Union Budget, calling it inadequate to address the country's economic woes and accusing the BJP-led government of using it to woo voters in Bihar and Delhi ahead of upcoming elections. Leaders from the Congress, TMC, DMK, SP, and CPI(M) voiced their disapproval, highlighting concerns over inflation, unemployment, and the lack of substantial measures to support the agricultural sector and the poor. They also criticized the tax cuts for the middle class as insufficient and coming too late after years of high taxes and rising prices.
A 39-member parliamentary panel has been constituted to examine the two bills proposing simultaneous elections to the Lok Sabha and state assemblies. The panel, chaired by BJP leader Bhratruhari Mahtab, will include prominent members from various political parties, including the BJP, Congress, SP, TMC, and DMK. The panel is expected to submit its report to the Lok Sabha by the first day of the last week of the next session. The government has decided to increase the committee's strength to include more political parties, highlighting the significance of this proposal to reform the election process in India.
The 52-year-old, who joins her mother Sonia and brother Rahul as an MP in what is a rare instance of three members of a family together in Parliament, took affirmation in Hindi while holding a copy of the Constitution soon after the House met.
Foreign investors have made a strong comeback to Indian equities with a net investment of Rs 22,766 crore in the first two weeks of December driven by expectations of rate cut by the US Federal Reserve. This revival follows significant outflows in the preceding months, with Foreign Portfolio Investors (FPIs) pulling out a net Rs 21,612 crore in November and a massive Rs 94,017 crore in October -- the worst monthly outflow on record.
He was reviled by critics in his party as a neo-liberal in disguise but till the end, he retained his belief in secularism and the humanity of Communism.
The Indian economy is recovering from the slowdown in momentum witnessed in the September quarter, driven by strong festival activity and a sustained upswing in rural demand, according to a Reserve Bank of India (RBI) bulletin released on Tuesday. An article on the 'State of the Economy' in the December bulletin noted that the global economy continues to exhibit resilience with steady growth and moderating inflation.
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.
Former Maoist insurgents have revealed a shocking practice within the CPI (Maoist) organization, where cadres are forced to undergo vasectomy before they are allowed to marry. This policy, designed to prevent distractions and ensure loyalty to the movement, has been implemented across the organization. The practice has been highlighted by several former insurgents who have now surrendered to the authorities.
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.
The Ministry of Statistics and Programme Implementation (MoSPI) on Friday said it has advanced the release of macroeconomic data Gross Domestic Product (GDP) estimates by about 90 mins to 4 pm. As per the current practice, the press releases of GDP are scheduled at 5.30 pm on the specified release dates, a MoSPI statement said.
Asked why she is not taking the charge of the bloc, given her credentials as a strong anti-BJP force, Banerjee said, "If given the opportunity I would ensure its smooth functioning."
Parliamentary proceedings were disrupted for the third consecutive day in the Winter Session as opposition parties continued their protests over the Adani issue and violence in Manipur and Sambhal. Both the Lok Sabha and the Rajya Sabha were adjourned within minutes of convening, despite appeals from the Chair to engage in productive dialogue and refrain from disruption. The opposition members raised slogans demanding action against the perpetrators of violence in Sambhal, and sought discussions on allegations of irregularities against the Adani Group and the violence in Manipur.
Opposition parties on Tuesday submitted a notice to move a motion for removing Vice President Jagdeep Dhankhar for allegedly conducting the House in a partisan manner.
Wholesale price based inflation declined to a 3-month low of 1.89 per cent in November on cheaper food items, and experts predicted a 0.25 per cent interest rate cut by the RBI in the policy review in February. The Wholesale Price Index (WPI) based inflation was 2.36 per cent in October 2024. It was 0.39 per cent in November, last year. In August, 2024, it was 1.25 per cent.
From the 30-share pack, Hindustan Unilever, Tata Motors, Axis Bank, Nestle India, Asian Paints, ITC, Reliance Industries, Mahindra & Mahindra, IndusInd Bank and State Bank of India were among the laggards. Larsen & Toubro, Tata Steel, JSW Steel, HDFC Bank, Adani Ports, Kotak Mahindra Bank, Bharti Airtel and PowerGrid were among the gainers.
Justice Shekhar Kumar Yadav, an Allahabad High Court judge, is set to appear before the Supreme Court Collegium to explain his controversial statements made at a Vishva Hindu Parishad (VHP) function. The Supreme Court has sought a report from the Allahabad High Court after news reports surfaced regarding Justice Yadav's remarks, which were widely condemned as "hate speech". The judge's statements, made at a VHP event, sparked outrage from various quarters, including opposition leaders and lawyers. The Bar Association of India has also condemned the judge's remarks and called for an apology.
Congress MP Priyanka Gandhi Vadra accused the BJP of a "conspiracy to save Home Minister Amit Shah's skin" following a clash in Parliament over allegations of disrespect towards B.R. Ambedkar. She alleged that BJP MPs instigated the violence and pushed opposition members, including Congress leader Mallikarjun Kharge, to prevent them from entering Parliament. Gandhi also challenged BJP MPs to say "Jai Bhim" and accused them of having "violent intentions" and insulting the legacy of Ambedkar.
The country now has six national parties - Bharatiya Janata Party, Congress, Bahujan Samaj Party, Communist Party of India-Marxist, NPP and AAP.
Arivandakshan's arrest is the first of a political person in the alleged scam in which several political functionaries of the CPM are under scanner, they said.
Retail inflation declined to a five-year low of 3.54 per cent in July mainly on account of subdued prices of food items, and base effect, according to official data released on Monday. The Consumer Price Index (CPI) based retail inflation was 5.08 per cent in June 2024 and 7.44 per cent in July 2023.
Embroiled in a battle for survival, Left parties marginally improved their performance in the 2024 Lok Sabha elections, leading in eight to 10 seats according to vote counting trends.
Congress leader Priyanka Gandhi on Saturday cruised to her maiden electoral victory, from the Wayanad Lok Sabha seat in Kerala, with a margin of over 4.1 lakh votes against Communist Party of India-Marxist-led Left Democratic Front's Sathyan Mokeri, according to figures released by the Election Commission.
In a stunning comeback, Hemant Soren's Jharkhand Mukti Morcha-led alliance on Saturday stormed to power in Jharkhand for a second consecutive term, winning 56 seats in the 81-member assembly, despite an all-out blitz by the Bharatiya Janata Party-led National Democratic Alliance which managed only 24 seats.
'Although there is a visible dent in TMC's urban votes, especially among women, the CPI-M and the BJP are unlikely to benefit from this'
Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said.
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