Election Financial News

Budget expectations: India may earmark about 4 trillion rupees ($48 billion) for food and fertiliser subsidies for the next fiscal year, two government sources said, indicating fiscal caution ahead of this year's general election. Food and fertiliser subsidies account for about one-ninth of India's total budget spending of 45 trillion rupees during the current fiscal year that ends on March 31. Also Read: Interim Budget 2024 may see modest expenditure hike as Centre looks to stay on fiscal glide path The Ministry of Consumer Affairs, Food and Public Distribution has estimated next year's food subsidy bill at 2.2 trillion rupees ($26.52 billion), the two sources said. That is 10% higher than a projected outlay of nearly 2 trillion rupees ($24.11 billion) for the current 2023-24 fiscal year.

Martin Signoux, a public policy expert at Meta France, recently shared his perspectives on the future of AI models in a series of tweets. His insights, focusing on the developments expected in 2024, received considerable attention. Signoux's predictions cover a range of topics, from the emergence of Large Multimodal Models (LMMs) to the ongoing debate between open and proprietary AI models.

Air India Express flight between Bengaluru, Kolkata, and Ayodhya. They both received the boarding pass for the first flight between Kolkata and Ayodhya. “In the last nine years, not only new airports have come up in Uttar Pradesh but with four international airports, Uttar Pradesh has become an important state in the field of air connectivity.

Muizzu has asked India to withdraw their troops from the tourist island before 15 March. The troops, which India says provide help with humanitarian aid and medical evacuations for the residents of the remote islands of the country, have become a point of contention between India and Maldives, since President Muizzu, also known to be pro-China, assumed the seat of governance. However, reports suggest that the specific deadline to withdraw Indian troops from Maldives had more to do with a certain upcoming election, which holds significance for Muizzu's People's National Congress (PNC).

Bloomberg report, Trump on Tuesday urged New Hampshire Republicans to reject Nikki Haley's candidature, claiming that Democrats were supporting it, following his historic victory in the Iowa caucuses. While speaking at a rally in Atkinson on Tuesday, Trump said, “Nikki Haley in particular is counting on the Democrats and liberals to infiltrate the Republican primary," as quoted by Bloomberg. “I’ll tell you we have these two people.

₹10 per litre next month. This development came as their profits are expected to hit a record ₹75,000 crore in the third quarter, despite falling crude oil costs, according to a report by Hindustan Times.

One year before US elections: Candidates from the two main political parties — the Democrats and the Republicans — begin their campaign trails. This part of the campaign includes setting up their team and conducting rallies to seek support and fundraise for their campaigns. ALSO READ: Vivek Ramaswamy ends his US Presidential bid, endorses Donald Trump as 'best president of 21st century' At the start of the campaigns: Democrat and Republican candidates participate in televised debates.

video shared by the state's Chief Minister's Office, Naveen Patnaik appealed to the people to light diyas, blow conch shells, offer prayers and perform kirtan on the day of the inauguration. Jagannath Temple is one of the four dhammas that every Hindu is advised to visit. Mahaprabhu Shri Jagannath, along with sister Devi Subhadra and elder brother Mahaprabhu Shri Balabhadra, are worshipped in Puri (the Purusottama Kshetra).

Reuters. While addressing a discussion hosted by the Montreal Chamber of Commerce, Justin Trudeau said in French, "It wasn't easy the first time and if there is a second time, it won't be easy either," reported Reuters. Justin Trudeau also mentioned that if Donald Trump rose to power following the upcoming elections it would not be easy for Americans, He said, “But we can't imagine a day when it will ever be easy with the Americans.

Former premier Rachel Notley, the leader of the Alberta NDP and Official Opposition, is stepping down.“Having considered what I believe to be the best interests of our party, our caucus, as well as my own preferences, I am here today to announce that I will not be leading Alberta’s NDP into the next election,” she said Tuesday afternoon.Notley said she’ll stay on until there’s a leadership race and vote for a new Alberta NDP leader. Once a new leader is chosen, she’ll step down from that role.Notley said she is “absolutely not” pursuing a role in federal politics.However, she said she’s not made any decisions about how long she’ll stay on as MLA for Edmonton-Strathcona.

OpenAI CEO Sam Altman says concerns that artificial intelligence will one day become so powerful that it will dramatically reshape and disrupt the world are overblown.

India’s first woman finance minister, Nirmala Sitharaman, will deliver her 6th Budget speech on 1 February 2024. She is the fifth finance minister (FM) since the 1980s to have delivered five consecutive budget speeches (for 2019-20 to 2023-24) and now she will present an interim budget ahead of national elections later this year. Other FMs who delivered five consecutive speeches were Manmohan Singh (1991-92 to 1995-96), Yashwant Sinha (1998-99 to 2002-03), P.

Donald Trump cultivating a deep network of support over three presidential runs. About 7 in 10 Iowans who caucused for Trump on Monday night said they have known all along that they would support a man who has remade the Republican Party through his “Make America Great Again” political movement. Trump was carried to victory by the majority of caucusgoers who say they back it, a sign of his growing influence in a state that denied him a victory eight years ago.

(This story originally appeared in on Jan 16, 2024)

Fitch Ratings Tuesday affirmed India’s rating at ‘BBB-‘ with a stable outlook, underpinned by strong domestic and external fundamentals. “India's rating is underpinned by a robust medium-term GDP growth outlook and sound external finances, which remain intact as the country has effectively navigated a fraught external environment in the past few years,” the global rating agency noted. The global rating agency also revised its growth forecast for the year upwards to 6.9% from the 6% projected earlier. It pointed out that India will remain the fastest-growing economy in the next few years as economic momentum proves resilient, projecting 6.5% growth in the coming fiscal. “Investment is likely to remain a key growth driver, as the government's capex drive is likely to continue, and private investment should accelerate gradually. Consumption is likely to moderate further in the near term due to reduced household savings buffers,” Fitch said. The first official estimates released by the government earlier this month pegged the country’s growth at 7.3%, driven by a higher investment rate. Fitch noted that the government’s infrastructure push, a strong private investment outlook and favourable dynamics will keep the country’s potential growth at 6.2%. “The improved health of bank and corporate balance sheets should pave the way for a positive investment cycle.

Trump has never been known for flattering his opponents, but in recent months he has come out with even more aggressive language that gives a hint as to what his second term might be like if he returns to the White House. The former president, who is miles ahead of his rivals in the race for the Republican nomination and easily won the Iowa caucuses on Monday, has made very clear that vengeance is a powerful motivating force for him.

NEW DELHI : India plans to announce an extension to Prime Minister Narendra Modi's flagship federal housing scheme in next month's budget and an increase in available subsidies for low-cost housing loans, three sources said, ahead of elections this year. Finance Minister Nirmala Sitharaman, who will present an interim budget on February 1, is likely to raise allocations for low-cost housing by more than 15% to ₹1 trillion ($12 billion) for 2024/25 from ₹79,000 crore in the 2023/24 budget, two of the government sources said.

Economists have been planning for the possibility of recession in 2024 — technical or otherwise — for months. But some on the outlook panel suggested the gloomier scenarios may be overdone and that Canada might avoid a recession altogether. “We’re reasonably optimistic that we avoid a recession, in the traditional sense of the word,” panelist Jean-François Perrault said, adding that while there’s no question the economy has slowed, households are hanging in there. That provides some comfort that some of the worst potential outcomes won’t materialize.

interim budget on February 1. This means less likelihood of any major announcement or showering of freebies on the poor. The government is also likely to slow the pace of capital expenditure to rein in fiscal deficit. The fiscal deficit target of 5.3% will be set by the government in FY25, keeping in view the fiscal consolidation path till FY26, as it normalises capital spending and refrains from any major announcements in the interim budget before the general elections, Icra and Barclays economists have said. ICRA expects the fiscal deficit target for FY25 to be set at 5.3% of GDP, midway through the expected print of 6.0% for FY2024 and the medium-term target of sub-4.5% by FY26. India has set a target of a 5.9% fiscal deficit for FY24. The interim budget is expected to follow the tradition and just seek a vote on account, Parliament’s nod for a grant in advance to meet the Centre’s essential expenditure for the first four months of FY2024-25. But the government may not totally ignore pressing issues that demand action especially just months before elctions. One such issue of economic as well as electoral importance is sluggish rural demand as the poor in India's rural areas are hit more by rising prices. The government may not wait till the full budget to address the issue and might declare welfare schemes for the rural poor in the interim budget.

Uncertainty and volatility that have kept many investors on the sidelines recently means cash holdings are elevated, but ETFs and model portfolios are likely to be among the temptations to put that cash back to work.

Former U.S. President Donald Trump would be a «transactional president» if he returns to power, but is unlikely to blow up the Biden administration's rebuilding of relations with China, according to Standard Chartered CEO Bill Winters.