AAP's presence in both states has complicated the contests for the BJP and its Congress rival.
If you love India, you cannot weaponise religion to stay in power, asserts Ramesh Menon, author, Modi Demystified: The Making Of A Prime Minister.
There are overvaluation and excesses in many pockets of the market. This is most obvious in the IPO market, where loss-making companies have inflicted large losses on investors, observes Debashis Basu.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
According to latest data, crops have been sown in around 72.13 million hectares, which is 8.90 per cent less than the same period last year.
With Deputy Governor Viral Acharya and another member Chetan Ghate voting for a status quo, RBI governor Shaktikanta Das and three others outvoted them for reduction in repo rate to 6.25 per cent from the existing 6.50 per cent.
Shehbaz, the younger brother of former three-time prime minister Nawaz Sharif, received 174 votes -- two more than the simple majority of 172.
Services companies reported an increase in new work intakes, which they attributed to successful marketing efforts and strengthening demand.
'Hindus bathe with lakhs of people, but these Hindutvawadis were standing alone in the Ganges. Even Rajnath Singh and Yogi Adityanath did not find a place'
Budget has already bombed at the box office and passing it without a revisit will be a mockery of the exercise though any modification may be short lived and perfunctory, observes V Ranganathan.
It was unclear how bankers were deciding which jewellers to support
Mahatma Gandhi was a Hindu and Godse was Hindutvadi, the Congress leader said.
All-out efforts are needed to mitigate the adverse impact of the Covid-19 pandemic, and the RBI will use any instrument necessary to revive growth and preserve financial stability, according to the minutes of the central bank's policy meeting.
Congress leader and ex-finance minister P Chidambaram on Tuesday said the Union Budget was the "most capitalist" with nothing for the poor and farmers while sops were being provided to big industrialists turning India into a very "unequal country". At a press conference after Union Finance Minister Nirmala Sitharaman unveiled a Rs 39.45 lakh crore Budget, he said because of the ruling party's "brute majority" the Lok Sabha pass the Budget but people will reject it. He claimed the Bharatiya Janata Party was going to elections, scheduled in five states, not with their performance or with the promises and assurances to the people, but solely "with the agenda of dividing the country and bringing Hindutva back to power".
'It's like the BJP is mocking people: Do what you want, we'll still win.'
The BJP can't be sure if it should celebrate that the old rival is fading or worry that new ones are rising. Because the last thing the BJP wants to see is alternatives rising, if only to the Congress, observes Shekhar Gupta.
A weak economy coupled with rising Covid-19 cases and inflation that is above RBI's comfort zone, geopolitical developments, and upcoming India Inc's second quarter results for FY21 could impact sentiment, analysts say.
Market participants must appreciate that staying cautious is a virtue for central bankers and should not expect a sudden reversal in the formal monetary policy stance.
The broader NSE Nifty managed to end higher for the second day at 10,426.85, up by 5.45 points or 0.05 per cent after shuttling between 10,478.60 and 10,377.85, intra-day.
We used to hear of the Modi-Shah pair as the hyphenated top of the BJP leadership. Lately, the hyphen has disappeared and it is only Modi at the top. Yogi Adityanath gets honourable mentions, but he is still a good distance away from being anointed a worthy successor, observes Shreekant Sambrani.
Price rise in services sector after the goods and services tax (GST) gets implemented and the pay hike of central government employees will make inflation control a tough job for the central bank
In the context of RBI's view that the real interest rate, defined as the repo rate less "look forward" CPI, should be around 150-200 basis points.
The market breadth has turned sharply positive since May amid hopes that a decline in Covid-19 infections will lead to a revival in the economy. At 3.8, the advance-decline ratio (ADR) for May was the best since June 2020. So far this month, the ratio has remained above three - in simpler words, for every declining stock, there were nearly four advancing stocks in May and three this month. ADR is a popular market breadth indicator, with a ratio of more than two signalling an extremely bullish undercurrent.
2013 will go down as an "annus horriblis" for the Indian economy. Instead of a growth rate over 10 per cent and inflation under 5 per cent we have the reverse.
By no means do economists see the Reserve Bank of India stop at just a 25-bp cut. Some of the economists such as Soumyakanti Ghosh of State Bank of India are of the firm view that rates have room to fall by a total of 75 bps in the current financial year, starting with 25 bps in the August 7 policy.
'You need to devalue the currency, ignite inflation, which then begins to oil the wheels of the economy.' 'Without that this severe recession is not going to reverse.'
India, the world's third-largest energy consumer and importer, on Wednesday warned of high oil prices hurting the nascent and fragile global economic recovery and floated an idea of long-term supply contracts that provide predictable and stable pricing. Speaking at the India Energy Forum by CERAWeek, Oil Minister Hardeep Singh Puri said there was a mismatch between demand for oil and the supplies producers such as OPEC+ were making and there was a case for raising the production. The world, he said, needs "predictable, stable and affordable" prices for it to recover back to pre-pandemic levels.
India's sovereign credit ratings do not reflect the economy's fundamentals, the Economic Survey said on Friday and nudged the global agencies to become more transparent and less subjective in their ratings. The Economic Survey 2020-21, tabled in Parliament, said that sovereign credit ratings methodology must be amended to reflect economies' ability and willingness to pay their debt obligations, and suggested that developing economies must come together to address this bias and subjectivity inherent in sovereign credit ratings methodology. "Never in the history of sovereign credit ratings has the fifth largest economy in the world been rated as the lowest rung of the investment-grade (BBB-/Baa3). While sovereign credit ratings do not reflect the Indian economy's fundamentals, noisy, opaque and biased credit ratings damage FPI flows," the survey said.
The Modi government has handled inflation far better than any government in the past two decades. Both the stock market and currency indices have begun to show confidence in the economy, despite the mounting global headwinds of trade.
With GST, demonetisaton and the banking sector reset, investment banker Christopher Wood expects PM to focus on generating jobs ahead of the 2019 election.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
The Congress chief added that the governments of Delhi and Bihar are 'captive governments' -- demonetisation, lockout, trade-off, economic bandit, farm-barn captive, bread-employment detention.
Rate cuts are unlikely to spur a supply response until the implementation bottlenecks are resolved.
'It was because of the huge selloff in the Indian equities that the rupee fell so sharply against the dollar on Friday.'
The broader NSE Nifty cracked below the key 10,400-mark to touch a low of 10,336.30, before finally ending 15.95 points, or 0.15 per cent, down at 10,410.90.
Cascading effect of rising raw materials will result in inflation, high rates, slow capex
'With the June quarter GDP shrinking by nearly a quarter, there is an even greater economic imperative: Reduction of uncertainty,' observes Neelkanth Mishra.
While Raghuram Rajan has said in the past that other factors, including domestic fundamentals, outweigh the US Fed policy meet, this time it would be different
If the real estate sector is properly managed, it could drive not just finance but demand for a range of products and services, observes T N Ninan.
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