Election Financial News

N Biren Singh on Friday that Manipur is a top priority for the Modi government and that a solution to the ongoing crisis in the state will likely be achieved within the next 2-3 months. Manipur is battling ethnic strife for more than a year now. Talking to media persons in Imphal on Friday, Singh said that violence continues in some areas due to a lack of security personnel, but the situation is improving as security forces which were taken out of the state for general election duties have come back and have been redeployed in vulnerable areas. «Now, the situation will be better,» he added.

partisan politics, want courageous leaders who are willing to take tough decisions and want to elect leaders who focus on effective governance. This is the crux of a poll that was conducted by Emerson College in the month of May. It was commissioned by The Common Good which is a non-partisan and a pro-democracy organization. The survey highlighted the voter’s frustration with the current political situation in the country. This has been reported by The Hill. The survey contains the responses of 1000 registered voters on various issues of national importance.

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The ongoing artificial intelligence frenzy that briefly made Nvidia Corp. the world’s most valuable company this week also drove record inflows into tech funds, said Bank of America Corp. strategists.

India has rejected a comment by the UN's top human rights official on foreign influence laws, saying principles of «transparency and accountability cannot be applied selectively.» India's Permanent Representative of India to the United Nations and other International Organisations in Geneva Ambassador Arindam Bagchi, said he «humbly disagrees» with the brief reference to India made by UN High Commissioner for Human Rights Volker Turk in his Global Update 56th session of the Human Rights Council this week. Turk had said in his global update that a «worrying trend in terms of civic space is the consideration or adoption of so-called „transparency“ or „foreign influence“ laws in over 50 countries, including in the Republika Srpska entity of Bosnia and Herzegovina, Georgia, India, Kyrgyzstan, the Russian Federation, Slovakia and Turkiye. These laws risk having serious chilling effects on the work of civil society, freedom of expression and of association.»

Thiruvananthapuram: Kerala Chief Minister Pinarayi Vijayan on Friday criticised the Centre for appointing a pro-tem Speaker of the Lok Sabha in alleged violation of parliamentary conventions and thus not giving the role to the most senior MP in the Lok Sabha Congress's Kodikunnil Suresh. Terming the Centre's decision as objectionable, Vijayan said the union government needs to clarify why Suresh, who is most senior MP in the Lok Sabha, was not chosen for the position, as per convention. The CM, in a statement issued by his office, also questioned what is the BJP's answer to those who suspect that Suresh was not considered for the post due to the «upper caste politics» followed by the Sangh Parivar. Vijayan's remarks came a day after seven-term parliamentarian and BJP leader Bhartruhari Mahtab was made the pro-tem Speaker of the Lok Sabha.

Calcutta High Court on Friday directed the West Bengal government to take steps to ensure that people displaced due to alleged post-poll violence in the state return to their homes. It directed the police to keep a strict vigil in the areas where violence allegedly took place and ensure that such incidents do not recur. The directive was issued by a division bench presided by Justice Harish Tandon while hearing petitions regarding allegations of violence in West Bengal after the Lok Sabha elections. The bench is likely to pronounce its directions on extension of deployment of central forces in West Bengal in the written order which will be posted in the high court's website.

Election Commission on Friday said it has initiated preparations for forthcoming assembly elections in Haryana, Maharashtra and Jharkhand with updation of electoral rolls in these states along with that in Jammu and Kashmir. July 1, 2024 will be the qualifying date for roll updation. For the just-held Lok Sabha polls, the voters' list was updated with January 1 as the qualifying date. Qualifying date helps establish number of voters on a given date in a state or in the country. The term of the existing legislative assemblies in the three states are going to end on November 3, November 26 and January 5, 2025 respectively and elections to these legislative assemblies are required to be conducted before the completion of their terms.

Praveen Chakravarty on Friday apologised for his post on social media platform X, criticising Karnataka Congress government's decision to hire the Boston Consulting Group (BCG) to help with suggestions to boost state revenue. Chakravarty, chairman of Professionals' Congress & Data Analytics, had faced backlash from his party after his dig at the government was echoed by the opposition BJP. Posting a retraction on X, Chakravarty said his comments reflected his private opinion, and weren’t intended to be a criticism of the Karnataka government. “I posted my private opinion on the broader culture of outsourcing core political & policy functions to outside consultants with no ‘skin in the game.’ It’s an issue that is debated widely in research circles & my comment was purely academic…I have spoken with & expressed my apologies for causing inadvertent harm to the leadership in Karnataka,” he wrote. The Siddaramaiah-regime roped in the BCG earlier this week, under pressure to find funding to fulfil its guarantee programmes, which will cost the state around Rs 52,000 crore this fiscal year. The government has already hiked taxes on fuel, liquor, and property, and is said to be considering further rate revisions to mobilise revenue. The guarantee programmes themselves have come under fire after the party managed to win just nine out of 28 seats in the state in the recent general elections.

Karnataka Deputy Chief Minister D K Shivakumar on Friday ruled out contesting in the Channapatna bypoll. He even wondered aloud why there would be bye-elections in Kanakapura assembly segment from where he is an MLA. Two days ago, Shivakumar said, «A significant change in my political career happened from Channapatna. I have come to Anjaneya temple in Kengal to start a new chapter in my political career.» This gave rise to speculations that he was willing to contest from Channapatna assembly segment, which fell vacant after MLA H D Kumaraswamy won the Mandya Lok Sabha election. BJP MLA and former minister S Suresh Kumar called the purported 'bypoll in Kanakapura' a 'Tughlaq like decision' and wastage of public money.

Samrat Chaudhary has been appointed as the convenor of the GoM on GST rate rationalisation. According to an official memorandum posted on the GST Council secretariat website, the other members of the reconstituted panel are Uttar Pradesh Finance Minister Suresh Kumar Khanna, Goa Transport Minister Mauvin Godinho, Rajasthan Medical, and Health Services Minister Gajendra Singh. The GoM also includes West Bengal Finance Minister Chandrima Bhattacharya, Karnataka Revenue Minister Krishna Byre Gowda, and Kerala Finance Minister K N Balagopal. The seven-member GoM has been tasked with suggesting required rate rationalisation and correction of inverted duty structure with an objective of simplifying the rate structure, reviewing the GST exemption list and enhancing revenues from Goods and Services Tax (GST).

Coinbase is spending $2m on ads aimed at Latino voters and consumers, part of the crypto industry’s effort to get supportive politicians in power.

granted bail to Chief Minister Arvind Kejriwal on Thursday, citing insufficient evidence and potential bias in the Enforcement Directorate’s (ED) investigation into the alleged money laundering case, in a 25-page order that was released on Friday. Special Judge Niyay Bindu of the Rouse Avenue Court highlighted the lack of clear evidence linking Kejriwal to the crime and questioned the ED’s investigative methods. The court noted the ED’s failure to demonstrate how the alleged proceeds of crime were used in the 2022 Goa assembly elections by the Aam Aadmi Party (AAP). The judge pointed out that only Rs 40 crore of the alleged Rs 100 crore had been traced, with no timeline provided for locating the remaining amount. «ED has failed to clarify as to how much time is required for tracing out the complete money trail,» Judge Bindu remarked, emphasising that Kejriwal's prolonged detention without substantial evidence was unacceptable.

Indian opposition leader and New Delhi chief minister Arvind Kejriwal has been granted bail by a court in the capital after he was arrested in a bribery case in March

Budget 2024: Every year, the Department of Economic Affairs in the Ministry of Finance prepares the Union Budget, which is then presented by the Finance Minister. The Budget which is tabled annually serves as a financial plan for the country and lays out the estimated earnings and expenditures of the government for the upcoming fiscal year. Here are the five essential steps involved in the formation of the Union Budget: Initial Processes: The process begins around six months before the Budget is presented. The Finance Ministry issues Budget Circulars to relevant ministries and departments with necessary instructions and guidelines. These circulars are then distributed among disbursing and field officers, who share details about their department's financial expenditures and receipts for the current and past fiscal year, as well as their financial requirements for the upcoming fiscal year.

UGC-NET and NEET-UG, the two important national-level examinations, have triggered a political row with opposition leaders including Rahul Gandhi launching a scathing attack on Prime Minister Narendra Modi accusing him of being more concerned about Lok Sabha Speaker's election scheduled next week.The Union Education Ministry on June 19 cancelled the University Grants Commission–National Eligibility Test (NET) after concerns were raised about the exam's integrity. The UGC-NET 2024 was conducted on June 18 across 317 cities.Also Read: ‘Millions of dreams…,’ ABVP, other RSS affiliates express unease over NTA role amid NEET, UGC-NET 2024 row: ReportThe cancellation of UGC-NET came amid ongoing controversy over alleged irregularities in the medical entrance exam - NEET.

PARIS—Serge Klarsfeld is a world-renowned Nazi hunter, a historian of the Holocaust and a moral authority in France who has pushed the country to reckon with its dark history of antisemitism. That is why many in France were shocked this week when Klarsfeld defended the far-right party of Marine Le Pen, which counts among its founders a former Nazi paramilitary soldier.

Rahul Shah, V-P, Equity Advisory, MOFSL, says PSU banks are a top idea. Shah feels PSU banks will continue to do well this year and they are very overweight on it versus the private banks, so that is one basket. Secondly, in the PSU basket itself, OMCs have done well again in the last six months but here onwards, stocks like HP, BP, IOC can still compound another 20% from here. So, PSU banks and OMCs are one trades where risk versus reward could be quite favourable. Banks are coming back in favour and we can see that the FII participation as well is picking up. In fact, yesterday it was the FIIs which overtook DIIs. Is this going to be an elongated patch of FII money flowing in and thereby banks doing well? Rahul Shah: We have seen continuous selloff by FIIs for quite some time and their participation versus the retail versus the DIIs has been fantastic and the markets have given robust returns. Whenever they return, there are two-three sectors which are their favourites and one of them is financials. I think that in the last four-five days we are seeing that action in the entire financial space.

Indian Hotels Company, EIH Ltd, Lemon Tree Hotels , Chalet Hotels share price have risen sharp 54-112% in a year benefitting from rising occupancy , average room rates leading to better revenue per available room (RevPar). The tailwinds have remained strong post easing of COVID-19 pandemic, and there has been a sustained increase in travel demand, with India continuing to be a popular destination.

“We expect the NDA government to sustain focus on capex-led growth around PLI, Roads, Ports, Aviation, Defence, Railways, and Green energy, given a 20 bps lower fiscal deficit in FY24 (Than RE), normal monsoons, and Rs 2.1 lakh crore dividend from RBI,” says Amnish Aggarwal, Director — Institutional Research, Prabhudas Lilladher. In an interview with ETMarkets, Aggarwal said: “We believe a progressive budget, normal monsoons, and strong inflows will further re-rate markets,” Edited excerpts:

Donald Trump has said in an interview that he wants to give automatic green cards to foreign students who graduate from US colleges, a sharp departure from the anti-immigrant rhetoric he typically uses on the campaign trail. Trump was asked about plans for companies to be able to import the «best and brightest» in a podcast taped Wednesday with venture capitalists and tech investors called the «All-In». «What I want to do and what I will do is you graduate from a college, I think you should get automatically as part of your diploma a green card to be able to stay in this country. And that includes junior colleges too, anybody graduates from a college. You go there for two years or four years,» he said, vowing to address this concern on day one. Immigration has been Trump's signature issue during his 2024 bid to return to the White House. His suggestion that he would offer green cards — documents that confer a pathway to US citizenship — to potentially hundreds of thousands of foreign graduates would represent a sweeping expansion of America's immigration system that sharply diverges from his most common messages on foreigners.