Record Political Participation in India’s 2024 Election
India’s upcoming general elections in 2024 have drawn a record-breaking number of political parties, with 744 parties fielding candidates, marking the highest in the country's history. This includes over 4,400 candidates from parties and nearly 4,000 independents. Although a broad diversity of ideologies is represented, the two major parties, the Bharatiya Janata Party (BJP) and the Indian National Congress (INC), continue to dominate in terms of candidates and likely influence
RBI Holds Interest Rates Steady, Hints at Future Adjustments
In its 50th monetary policy meeting, the Reserve Bank of India (RBI) kept the repo rate unchanged at 6.5%, maintaining a "withdrawal of accommodation" stance due to persistent inflation concerns. However, the RBI has signaled possible rate adjustments depending on inflation trends and economic growth, with analysts divided over the timing of future rate cuts
Sensex and Nifty End Lower Amid Profit Booking
India’s stock markets saw declines today as investors booked profits following the RBI’s unchanged repo rate decision at 6.5%. The Sensex fell by 167 points to 81,467, while the Nifty closed just under 25,000. Gains in Pharma and Realty sectors offset losses in FMCG and Banking
India Criticizes Carbon Border Adjustment Mechanism (CBAM)
Finance Minister Nirmala Sitharaman stated that unilateral measures like the EU's CBAM are detrimental to developing economies, arguing that these policies hinder India's green transition efforts despite its relatively low emissions per capita
Rupee Stable Against Dollar, Bond Yields Rise
The Indian rupee remained stable at 83.96 against the U.S. dollar, while bond yields hardened following RBI's policy announcement. The unchanged stance led to expectations of delayed rate cuts
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