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Electoral Bond Controversy: What It Means For 2024 Lok Sabha Elections, And Supreme Court’s Role In It

Snehashish RoyMarch 12, 20240

The 2024 Lok Sabha elections in India are poised to witness significant repercussions following the State Bank of India’s (SBI) recent involvement in the electoral bond controversy. The electoral bonds scheme, which allowed political parties to receive anonymous donations, was declared unconstitutional by the Supreme Court on February 15, 2024. The court ordered the SBI to provide details of all electoral bond contributions received by political parties from the scheme’s inception in 2019 up to the present date by March 6, 2024. This verdict has far-reaching implications for political funding transparency and accountability. The SBI has sought an extension until June 30, 2024, to disclose donor details associated with electoral bonds. The bank cites logistical challenges and prac...

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India At Key Juncture Of World Trade: Israel Suggests Gujarat Alternative To Red Sea Tensions; What Is It?

Snehashish RoyFebruary 22, 20240

In recent weeks, Yemen's Houthi rebels have intensified their attacks on ships linked to Israel in the Red Sea as a show of solidarity with Gaza. This has put a halt on global trade, as around 12% of it passes through the Red Sea, which links the Indian Ocean to the Mediterranean Sea via the Suez Canal. Given the current situation, ships are being forced to take a longer route, traveling all the way to the south of Africa and crossing the Cape of Good Hope, which increases both costs and time taken. Due to this disruption in trade, seafarers now have the right to refuse to sail on ships passing through the Red Sea, as per a new industry agreement signed last week. To bypass the Red Sea and continue trading, Israel has been exploring alternative routes. On February 13, Transpor...

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Kerala Govt Protests Against Centre: What’s The Tussle Over Fund Distribution To States? What The Law Says

Snehashish RoyFebruary 8, 20240

The Kerala government, led by the CPI(M), is staging a protest at Jantar Mantar in New Delhi. This comes after the Karnataka government held a similar protest over the distribution of central funds. Kerala alleges that the fiscal policies of the BJP-led government at the Centre are financially stifling the state. Chief Minister Pinarayi Vijayan, his cabinet colleagues, LDF MPs and legislators are likely to participate in the protest. Here is a look at the issues. Kerala claims that COVID-19 has made a curtailment of Rs 57,400 crore in the State Receipts in the current fiscal, and it is not getting its due share from the tax collected by the Centre. According to an RBI report on state finances, the Centre is to provide Rs 35 for every Rs 65 collected by the states on average. ...

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Sharp Rise in Tomato Prices Amplifies Inflationary Concerns

Himshikha ShuklaJuly 15, 20230

The relentless surge in tomato prices across India has created a significant burden for consumers, who are already grappling with rising grocery bills. With the cost of tomatoes reaching an exorbitant Rs 224 per kg in several parts of the country, households are feeling the strain of escalating vegetable prices. The predicament is further exacerbated by the perceived negligence of the government in effectively addressing this critical issue. The tomato price hike, which began with prices at around Rs 40 per kg in June, has unfolded into a full-blown crisis. In the first week of July, prices surged to an average of Rs 100 per kg, and subsequently skyrocketed to an astonishing average of Rs 200 per kg due to heavy rainfall affecting the supply from various regions. This unprecedented

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World Bank Projects India’s Growth Forecast To 6.3% In FY24 ; Trimmed By 0.3% From Earlier Prediction

Nehal MaverickApril 4, 20230

The World Bank cuts India’s GDP growth projection to 6.3 percent in its latest India update released on Tuesday, a 0.3 percentage point reduction from its previous projection in December 2020 citing rising borrowing costs and slower income growth are expected to weigh on private consumption growth. It is further stated that government consumption is projected to grow slower due to the withdrawal of pandemic-related fiscal support measures. The report projects that the government is likely to meet its fiscal deficit target of 5.9 percent of GDP in this fiscal and combined with the consolidation in state government deficits, the general government deficit is also projected to decline along with the narrowing of the Current Account Deficit. The CAD (Current Account Deficit) is projecte...

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From Hindenburg Report To Stock Rout: A Critical Analysis Of Adani Catastrophe

Sayani ChakrabortyMarch 8, 20230

The enormous fluctuations in the market value and fortunes of the Adani Group are almost unreal, like something out of a fairy tale. Since a short seller agency, Hindenburg Research, made serious accusations regarding the use of widespread illegalities by the group, I believe history will view this as a singular event, at least for India, due to the magnitude and speed with which the changes occurred, both during the spectacular ascent and the subsequent decline. Adani's route to success began in 1999, when it joined with Singapore's Wilmar to become an importer of palm oil. In a short amount of time, seven corporations affiliated with the Adani group accumulated control of practically all of India's infrastructure, including seaports, highways, airports, data storage facilities, defe...

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Decreased Private Demand Slows Economic Growth, Suggesting Policy Changes

Sayani ChakrabortyMarch 7, 20230

In line with RBI's projection but below the mainstream opinion of experts, GDP for the third quarter (October-December) of 2022-23 was Rs 40.19 lakh crore, up by 4.4%. Even if GDP revisions for the prior quarter and fiscal year are ignored, data from the third quarter still offers alarming signals about the rate at which the economy is losing steam. In the face of rising interest rates, the positive effects of a return to normalcy in the economy have had a chilling effect on private consumption. In addition, against the backdrop of a worldwide economic recession, manufacturing has decreased for the second consecutive quarter. In the third quarter, private consumption spending increased by 2.1% to Rs 24.77 lakh crore. When compared to the prior quarter (July-September), this one saw ...

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As Financial Market Panic Grows, Sebi And RBI Must Move Quickly To Help Adani Group

Sayani ChakrabortyFebruary 11, 20230

After Adani Enterprises cancelled its fully subscribed follow-on public offering (FPO), the price of its stock dropped by 27% to Rs 1,565.30 the next day. Currently, it's at a price that's around 50% lower than the FPO floor. Since January 24th, the market value of the seven Adani listed firms has dropped by more over $100 billion. As a result of these changes, authorities and politicians in India took swift action. The problem was sufficiently pressing that Parliament had to adjourn. Banks have been questioned about their exposure to Adani companies by the Reserve Bank of India, the Securities and Exchange Board of India (SEBI), and the National Stock Exchange (NSE). There are now commercial and financial ties between international markets and Indian businesses. The global finan...

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Forbes Released Its List Of World’s 100 Most Powerful Women, Nirmala Sitharaman Among 6 Indians!

Aditi priya singhDecember 8, 20220

Six Indian women on the Forbes list of the 100 most powerful women in the world include Finance Minister Nirmala Sitharaman, Biocon CEO Kiran Mazumdar-Shaw and founder of Nykaa Falguni Nayar. Sitaraman, ranked 36th, is on the list for the fourth year in a row. The 63-year-old minister is ranked 41st in 2020, 34th in 2019 and 37th in 2021. “This list is based on four main indicators: money, media, influence and sphere of influence. For political leaders, they estimate gross domestic product and population. For business leaders, turnover and headcount are mentioned in the media and reach everyone. The result is a pool of women challenging the status quo. Details of Indian women whose name came in the list; The Union Finance Minister Nirmala Sitaraman is ranked 36 for the fourth time...

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Reserve Bank Launches Digital Currency In India, Know Its Benefits!

Aditi priya singhDecember 1, 20220

Now there will be no need to carry cash in pocket and there will be no compulsion for online payment through any third party app. Today India's retail digital rupee is going to be launched. The Reserve Bank of India (RBI) has announced plans to launch it as a pilot project. Let us tell you that before this, the Reserve Bank of India has started the Central Bank Digital Currency (CBDC) in the country on an experimental basis from November 1. Not only India, CBDC is currently being worked on in almost half the countries of the world. Let's understand, what is this currency, how it works and which country has progressed so much in this innovation. What is central bank digital currency(CBDC) ? The electronic currency issued by the central bank of a country is called CBDC. It is used i...

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Indian Women More Focused Towards Saving For Their Retirement Than Men: Survey

Arpita SarkarNovember 23, 20220

More women than men are actively saving and more women than men have mutual fund investments. Not only that, according to Bankbazar's latest Savings Quotient survey, more women than men focus on their retirement investments. The survey covered 1,675 respondents aged 22-45 across six metros and 18 tier-2 cities. The male-to-female ratio in the survey was 57:43. Majority of the participants (78 percent) are from metros and the rest are from non-metros. Most of those surveyed are salaried professionals earning a minimum salary of Rs 30,000 or more. They were all digitally aware. According to the survey, about 75 percent had a bank account, 57 percent were investing through mutual funds or systematic investment plans (SIPs). About 54 percent had a fixed deposit or a recurring depo...

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India, China Among Least Receptive To Embrace Flexible Working During Pandemic: Survey

Arpita SarkarNovember 22, 20220

A recent study revealed that Asian businesses that expect their employees to spend their working lives working from the office have declined during the Covid-19 pandemic. More than half of companies on the world's largest continent expected their employees to work entirely from the office before the pandemic began, Bloomberg cited a questionnaire from the US-based education nonprofit Center for Creative Leadership. The survey involved responses from 2,170 business leaders from 13 Asia-Pacific countries. It found that businesses in Singapore, Australia, and New Zealand were most likely to embrace flexible working while China, Japan, and India were the least receptive. The report found that only seven percent of managers expected their employees to work entirely remotely, down f...

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