Election Financial News

Budget 2024: Speaking at an event by industry chamber CII a month ago, Finance Minister Nirmala Sitharaman casually remarked that the upcoming Interim Budget might not have any «spectacular» announcements. If you also consider the BJP's recent victories in three big states which are seen to have placed the party on a strong footing for the Lok Sabha elections in May, you can assume that the Interim Budget, to be presented on February 1, will be shorn of any grand populist schemes that require hefty financial support. Catch our full Budget 2024 coverage here The BJP-led NDA government at the Centre, however, may not let the opportunity a pre-election budget presents go waste.

match fixing" raised by Shiv Sena (UBT) faction leader Sanjay Raut ahead of the verdict in the Shiv Sena MLA disqualification case, Chief Minister Eknath Shinde said that the decision to be announced later in the day by Maharashtra Assembly Speaker Rahul Narwekar will have to be made on merit. Speaking with reporters in Mumbai on Wednesday, ahead of the verdict, CM Shinde said the Election Commission of India had allotted his faction the Shiv Sena name and symbol. «We are official Shiv Sena and we have the majority in the state Assembly… but some are making allegations of match fixing, but they also had a meal with the speaker but we didn't make any such allegations; the speaker is an MLA too and the meeting was official and it's in open light...,» CM Shinde said, responding to Sanjay Raut's allegation of «match fixing.» Earlier, Uddhav faction-led Shiv Sena raised objections to Speaker Narwekar meeting Shinde, ahead of the verdict at his residence on January 7 «Whether it's High Court or Supreme Court, they keep making comments on it… the decision will have to be on merit, as we (the government) are formed on merit,» CM Shinde added. Referring to the 2023 Supreme Court verdict refusing to disqualify the Maharashtra government, CM Shinde said, «They (UBT Shiv Sena) have lost ground as the government is functioning properly and working for the people...» On December 15, 2023, the Supreme Court extended till January 10 the time for the Speaker to pronounce a verdict on disqualification petitions against MLAs including Shinde. The disqualification pleas have been pending since the Maharashtra political crises started.

Ayodhya for its consecration ceremony scheduled for January 22. Talking to reporters, Singh also dismissed the speculation that Prime Minister Narendra Modi might contest the upcoming Lok Sabha polls from Ayodhya. «The opposition, which created hurdles in the construction of the temple at every step, should not be invited to Ayodhya at all,» he told reporters on the sidelines of a programme at Rasauli in the Safdarganj area of this Uttar Pradesh district on Tuesday evening.

Ashish Gupta, CIO, Axis Mutual Fund, says “both capex and real estate are sectors that are emerging after multi-years of down cycle. And therefore, the ROE recovery in many of these companies is very, very sharp. Some of this is priced in. I think some of this still has to play out. And we are actually still positive on this theme.” The script of how markets moved in 2023 was a function of liquidity, topping out of inflation and how the earning cycle picked up. What do you think will influence the script of 2024? Ashish Gupta: Firstly, a couple of big headwinds that were there at the start of last year are actually tailwinds for the market. So, whether we look at flows last year which were expected to be impacted by the rise in global rates, I think that has turned on its head. Similarly, commodity prices, in particular oil prices, were elevated and with increasing geopolitical risk that was a concern for the market and I think that also has turned into a big tailwind. While these tailwinds are there, some of the factors that drove the market last year are still very much present. We expect the Indian earnings trajectory to remain fairly robust. Even this quarter, we are expecting close to 20% earnings growth to be reported by corporate India and I think this will continue to be the primary driver of the markets.

outlook 2024 note. These positive trends in the equity market indicate a favorable economic environment and investor sentiment, likely driven by factors such as strong corporate earnings, economic recovery, and supportive government policies. As always, it's essential for investors to stay vigilant and monitor market dynamics for informed decision-making in the ever-evolving financial landscape.

Vodafone Idea," said analysts at the brokerage house. The analysts believe that the extent of the tariff hike might take the market by surprise and consider Bharti Airtel to be in the most advantageous position among Indian telecom operators to leverage this hike, given its larger base of high-end users. Shares of Bharti Airtel hit a 52-week high of ₹1,069 on in early deals today following the report.

Beijing will «never compromise» on the issue of Taiwan and urged them to stop «provocative actions» in the South China Sea, the defence ministry said Wednesday. China «stressed that it will never compromise or back down on the Taiwan issue,» the ministry said in a readout of the talks in Washington, held Monday and Tuesday, urging the United States to «stop arming» the self-ruled island, which is holding elections this week.

Shiv Sena MLA disqualification case, Shiv Sena (UBT faction) leader Sanjay Raut questioned the timing of an upcoming visit of Prime Minister Narendra Modi to the state ahead of the Lok Sabha elections. Alleging that PM Modi is «well aware» of the verdict in advance, Raut said Chief Minister Eknath Shinde is «illegally» running the government. "Match fixing… is going to happen in Maharashtra today at 4 pm. The Maharashtra Chief Minister (Eknath Shinde) is illegally running the government. For us, that is a crime.

AI vs plagiarism: Bill Ackman’s push for Artificial Intelligence gives ‘sleepless’ nights to university faculties Ackman has criticized Harvard for not doing enough to protect its students from antisemitism incidents in the wake of the October attack by the militant Islamist Palestinian group Hamas on Israel and subsequent Israeli military operations in Gaza, as well as for the university's adoption of diversity and inclusion programs he argues stifle meritocracy. The board candidates he is backing, Ackman said, are "talented, accomplished and motivated people, and their candidacy will serve as a wakeup call for Harvard." They range in age from 36 to 38, and all have served in the U.S.

Uddhav Thackeray faction. The political temperature rose in Maharashtra on Tuesday ahead of the crucial verdict by the assembly speaker on the cross-petitions by Shiv Sena factions seeking disqualification of each other's MLAs following a split in the party, an outcome which will decide the way forward for the Eknath Shinde government and also the regional outfit's rival groups. In June 2022, Shinde and dozens of other Shiv Sena MLAs rebelled against then chief minister Uddhav Thackeray, leading to a split in the Sena and fall of the Maha Vikas Aghadi coalition government.

alliance INDIA bloc saying that it was created for pursuing ‘selfish motives’. This came amid reports that the INDIA partners opened talks to arrive at a seat-sharing deal for the upcoming general elections. Speaking to ANI, the minister said, “The INDIA alliance does not represent the convergence of like-minded political interests.

26 January Republic Day Parade, scheduled to be held in national capital Delhi. On Tuesday Karnataka Chief Minister Siddaramaiah took to microblogging platform X to hit out at Indian government by accusing them of ‘denying’ the Karnataka tableau because ‘there is Congress government’ in the state.

Cape Town, where India beat South Africa inside five sessions of a test match last week, has incurred one demerit point after being rated «unsatisfactory», the International Cricket Council (ICC) said on Tuesday. The Newlands contest lasted 642 balls with India registering a series-levelling victory in the shortest ever test in which there has been a winner, beating Australia's 656-ball victory over South Africa in 1932. South Africa captain Dean Elgar, playing his farewell match, and India counterpart Rohit Sharma both felt the pitch was below-standard and many would feel the venue got away with a rather light punishment. «The pitch in Newlands was very difficult to bat on,» match referee Chris Broad said in an ICC statement. «The ball bounced quickly and sometimes alarmingly throughout the match, making it difficult to play shots. »Several batters were hit on the gloves and many wickets also fell due to the awkward bounce." South Africa, electing to bat, were bundled out for 55 in their first innings and spinners were not used at all by either of the sides. Hosts Cricket South Africa have 14 days to appeal against the sanction. Under the ICC rules, «unsatisfactory» rating incur one demerit point, three points are slapped if a venue is found 'unfit' under the governing body's pitch and outfield monitoring process. These points will remain active for a rolling five-year period.

Indian economy is likely to grow at 6.2 per cent in the next fiscal, mainly due to the favourable combination of neutral policy settings, positive credit momentum, and manageable macros amid a 15-year high household debt levels, a foreign brokerage report said on Tuesday. Despite the rising external headwinds, India is likely to grow 6.2 per cent next fiscal against a consensus of 6.3 per cent to USD 3.9 trillion from USD 3.57 trillion in FY24 on a likely 7 per cent growth, as consumption growth is likely to stabilise at 4.7 per cent from 4.5 per cent in FY24, Tanvee Gupta-Jain, the UBS India chief economist, said in a note.

Nirmala Sitharaman will present her sixth budget, and the last one before the general elections expected in April-May, on February 1. The Centre will seek to build on the growth momentum witnessed in the past two years without undermining fiscal discipline. ET looks at some of the key budget components: 1. Budget Size: This will be the most-tracked number ahead of general polls, as it will reveal the govt’s fiscal support to the economy and various welfare programmes.

Tshering Tobgay's party, the People's Democratic Party (PDP), on Tuesday scored a resounding victory in Bhutan's parliamentary elections. The party clinched almost a two-thirds majority, winning 30 seats of the 47 national assembly seats to return to power. The Bhutan Tendrel Party (BTP) navigated its way through the competitive landscape, securing 17 seats.

Samajwadi Party and Maha Vikas Aghadi partners NCP and Shiv Sena (UBT). While no deal could be reached, the alliance partners put up a united front. The Mukul Wasnik-led national alliance committee of Congress could not agree on any number with NCP and Sena (UBT), sources privy to talks said. MVA is facing a challenge because Sena (UBT) is insisting on fighting 23 of 48 Lok Sabha seats while Congress is arguing for a «merit-based», seat-by-seat, approach.

Indian economy is likely to grow at 6.2% in the next fiscal, mainly due to the favourable combination of neutral policy settings, positive credit momentum, and manageable macros amid a 15-year high household debt levels, a foreign brokerage report said on Tuesday. Despite the rising external headwinds, India is likely to grow 6.2% next fiscal against a consensus of 6.3% to $3.9 trillion from $3.57 trillion in FY24 on a likely 7% growth, as consumption growth is likely to stabilise at 4.7% from 4.5% in FY24, Tanvee Gupta-Jain, the UBS India chief economist, said in a note.

MUMBAI : The Indian markets are poised to witness initial public offerings (IPOs) worth $12-13 billion in 2024, V. Jayasankar, managing director and a board member at Kotak Investment Banking, said. IPOs of new-age tech companies, such as Ola Electric, FirstCry and Swiggy, are likely to fuel a significant part of this activity, according to the company.

255 seats of the total 543 seats for the upcoming Lok Sabha elections. Here's a look at how seat-sharing talks are going on in different and what different political parties are demanding: The Aam Aadmi Party (AAP) is in power in Delhi. The national capital has seven Lok Sabha seats.

gold sourced from illegal mines. The architect of much of the sanctions-busting was a former oil minister, Tareck El Aissami. Once the golden boy of the regime, he has not been heard of since March, when he said on social media that he supported a corruption inquiry which revealed that PDVSA had not been paid for more than 80% of the oil it had shipped, to the tune of $21bn.