Data recap: Electoral bonds, Tata’s plan, Murthy’s gift
Mint in the week gone by. The Election Commission of India has released a new set of data based on political declarations on electoral bonds. Infosys co-founder NR Narayana Murthy has gifted his four-month-old grandson Ekagrah Rohan Murthy shares of the company worth ₹240 crore.
A new set of data on electoral bonds released by the Election Commission on 17 March showed that Santiago Martin, known as the "Lottery King," donated ₹509 crore to Tamil Nadu's ruling DMK through electoral bonds between October 2020 and April 2023. The latest disclosure is based on declarations made by political parties in November last year regarding bonds redeemed since the scheme's inception in early 2018 until September 2023. Based on two datasets, Bharatiya Janata Party’s cumulative donations received through electoral bonds were ₹8,251.8 crore.
The government's surprise move introduced a new EV policy, slashing import duties on electric cars to 15% just before the Model Code of Conduct came into effect. The new policy slashes the import duty on electric cars in India that cost over $35,000 ( ₹29 lakh) from the current 70-110% to 15% for five years but the move comes with a number of caveats. The reduced tariff is limited to 8,000 cars annually, contingent upon companies investing ₹4,150 crore, or $500 million, in setting up a factory within three years.
₹240 crore: That's the value of shares of Infosys, given by the company's co-founder NR Narayana Murthy to his four-month-old grandson Ekagrah Rohan Murthy. The gift potentially makes Ekagrah the country's youngest millionaire. According to an exchange filing, Ekagrah now possesses 1,500,000 shares, representing a 0.04% stake in India’s second-largest information technology company.
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