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☆ Modi's government pledges fiscal prudence in India's post-election budget
▼ + stars: | 2024-07-23 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +4 min

Nirmala Sitharaman, India's finance minister, leaves the ministry to present the budget at the parliament in New Delhi, India, on July 23, 2024. India's finance ministry on Tuesday lowered the country's fiscal deficit target to 4.9% for the financial year ending March 2025, a revision from 5.1% during the pre-election interim budget published back in February. That target will then fall to 4.5% or lower for the financial year ending March 2026, India's Finance Minister Nirmala Sitharaman said during the announcements. "This is imperative for attracting foreign investment and sustaining growth," he said, adding that "unprecedented financial support" from the central bank will make the fiscal deficit target possible. "We will endeavor to maintain strong fiscal support for infrastructure over the next five years, in conjunction with imperatives of other priorities and fiscal consolidation."

Persons: Nirmala Sitharaman, Vipul Bhowar, Narendra Modi's, Sitharaman, Hajra, Anand Rathi, Modi's Organizations: Bloomberg, Getty, India's, Waterfield Advisors, Sitharaman, Narendra Modi's Bharatiya Janata Party, Stock Brokers, CNBC, Modi's Bharatiya Janata Party, Centre, Monitoring, BSE, U.S . Locations: New Delhi, India, Mumbai, Bihar, Andhra Pradesh

India's stock market has been topsy-turvy in the past week. WealthMills Securities' equity market strategist Kranthi Bathini says "India's stock markets need stable policy continuity going forward." "The Union Budget has consistently increased allocations for infrastructure development. Strong digital economy and startup ecosystem Another longer-term theme on Sengupta's radar is the digital economy and startup ecosystem. Riding the consumer wave Aside from sectors poised for growth, WealthMills Securities' Bathini suggests looking out for names set to benefit from the strong consumer.

Persons: turvy, Narendra Modi's, Modi, Dhruba Jyoti Sengupta, Kranthi Bathini, Sengupta —, Sengupta, Bathini Organizations: Narendra Modi's Bharatiya Janata Party, BJP, Lok Sabha, Wrise, CNBC Pro, BSE, Bombay Stock Exchange, WealthMills Securities, Budget, Hindustan, Indian Railway Catering, Tourism Corporation, Indian, Construction, Titagarh, Systems, India, Canara Bank, Bajaj Finance, Securities, Hindustan Aeronautics, Tata Motors, Reliance Industries Locations: Lok, Asia, East, Europe, India, uptrend

Indian Prime Minister Narendra Modi gestures as he arrives at Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. Asia-Pacific markets were mixed as investors assessed India's election results after Prime Minister Narendra Modi's Bharatiya Janata Party fell short of an outright majority in the lower house of parliament. Still, Modi is set for a third term in power after the BJP-led National Democratic Alliance secured 294 seats, more than the 272 needed for the coalition to form the government. Elsewhere, first-quarter gross domestic product figures are expected out of Australia.

Persons: Narendra Modi, Narendra Modi's, Modi Organizations: Indian, Bharatiya Janata Party, BJP, Narendra Modi's Bharatiya Janata Party, National Democratic Alliance Locations: New Delhi, India, Asia, Pacific, Australia

☆ Narendra Modi: On the campaign trail with India’s popular yet divisive leader
▼ + stars: | 2024-05-01 | by ( Will Ripley | ) edition.cnn.com time to read: +6 min

Narendra Modi, India’s hugely popular but deeply polarizing prime minister, has landed in the battleground state of Uttar Pradesh as he campaigns for a third consecutive term in power. A Modi supporter at his rally in Aligarh, India, on April 22, 2024. And here in Uttar Pradesh, a sense of pride is evident among the thousands gathered to hear the prime minister speak. Supporters wave the flag of Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) in Aligarh, India, on April 22, 20224. John Mees/CNNModi is expected to remain on the campaign trail until India’s next prime minister is named in early June, traversing the huge country, visiting city after city and delivering his roaring speeches that attract the masses.

Persons: Narendra Modi, India’s, Modi, John Mees, “ Modi, ”, Pramod Charma, ” Modi, he’s, –, Gaurav Mahajan, Modi’s, Narendra Modi's, CNN Modi, Narayan Pachaury, “ Organizations: India CNN, Win, CNN, Bharatiya Janata Party, BJP spokespeople, selfies, Modi, Narendra Modi's Bharatiya Janata Party, BJP Locations: Aligarh, India, Uttar Pradesh, New Delhi, Russia, Gujarat, Rajasthan

☆ India to hold the world's biggest election starting April in over a month-long exercise
▼ + stars: | 2024-03-18 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

Around 970 million registered voters are expected to cast their votes for India's next prime minister. India will hold the world's largest general elections starting April this year with nearly a billion voters set to exercise their franchise. The seven-stage election process will start from April 19 and last till June 1, 2024, according to the schedule announced by the Election Commission of India. The country has about 970 million registered voters. Since Modi won a second term in the 2019 general election, India has seen the economy strengthen, with Indian equity benchmarks hitting record highs.

Persons: India's, Narendra Modi's, Modi, Rajiv Kumar, Krishnamurthy Subramanian Organizations: India, India's, Narendra Modi's Bharatiya Janata Party, BJP, WealthMills Securities, CNBC, BSE, International Monetary Fund, U.S, White House Locations: India, BJP, Hong Kong, China

☆ New Mosque Construction in India's Ayodhya to Begin in May, Muslim Group Says
▼ + stars: | 2024-01-20 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

The dispute had scarred relations between the communities for decades and the destruction of the mosque sparked nationwide riots that killed 2,000 people, mostly Muslims. India's top court said in 2019 that the razing of the mosque was unlawful, but ruled that evidence showed there was a non-Islamic structure beneath it. It ordered that the site be given to Hindu groups to build a temple and Muslim community leaders be given land elsewhere in the city for constructing a mosque. While construction of the $180 million temple began within months and the first phase is set to open on Monday, Muslim groups have struggled to raise funds and begin work at a desolate site about 25 km (15 miles) away. A crowd-funding website is expected to be launched in the coming weeks, said Shaikh, who is also a BJP leader.

Persons: Shivam Patel, Haji Arfat Shaikh, Ram, Zufar Ahmad Faruqi, Narendra Modi's, Athar Hussain, Shaikh, Muhammed bin Abdullah, Prophet Mohammad, Babur, YP Rajesh, Raju Gopalakrishnan Organizations: DELHI, Islamic Cultural Foundation, Narendra Modi's Bharatiya Janata Party, BJP, YP Locations: Indian, Ayodhya, India's, India, Babri

☆ Indian markets are ‘priced to perfection'— unlikely to rise much ahead of elections
▼ + stars: | 2024-01-16 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

Indian equity benchmarks the Nifty 50 and BSE Sensex have rallied by more than 6% since the state elections. The Indian stock markets rallied to new highs in 2023 on the back of bullish investors and stronger domestic participation. But analysts warn that the level of optimism seen last year will not be replicated before the general election concludes. Both the Nifty and Sensex hit record highs of 22,081.95 and 73,000, respectively, during Asia's Monday afternoon trading session. In the past five general elections, Indian markets have climbed an average 18% six months prior, 8% three months before, 2% in the months after the results, and 10% half a year later, said Shantanu Bhargava, managing director and head of listed investments at Waterfield Advisors.

Persons: Narendra Modi's, Sensex, Peeyush Mittal, Mittal, Shantanu Bhargava Organizations: BSE Sensex, Narendra Modi's Bharatiya Janata, BJP, Matthews Asia, CNBC, Waterfield Advisors

"After these results, it looks like there is no stopping Modi," said Yashwant Deshmukh, poll expert with C-Voter agency, adding that stopping Modi would be a "herculean task". The BJP won the regional votes in three of four major states, including central Rajasthan and Chhattisgarh which were ruled by Congress. One of the challenges facing the opposition are the factious ties within the INDIA alliance. Congress refused to share seats in state polls with key regional ally the Samajwadi Party. "The future of the alliance is good if the Congress party works on it with full commitment," he said.

Persons: India's, Narendra Modi, of Home Affairs Amit Shah, Narendra Modi's, Modi, Yashwant Deshmukh, Rahul Gandhi, Manish Tewari, Manoj Kaka, Gandhi, Baijayant Panda, Saurabh Sharma, Miral Organizations: Bharatiya Janata Party, BJP, Indian, Union, of Home Affairs, Narendra Modi's Bharatiya Janata Party, Voter, Congress, Reuters, Samajwadi Party, Thomson Locations: Ahmedabad, India, DELHI, Britain, Rajasthan, Chhattisgarh, Karnataka, INDIA, Lucknow

☆ India-Canada tensions hit crisis point after assassination allegations: Here's what you need to know
▼ + stars: | 2023-09-19 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

A security personnel stands guard outside the Canadian High-Commision in New Delhi, India, September 19, 2023. In retaliation, India expelled a senior Canadian diplomat after summoning Canada's High Commissioner to the country, the foreign ministry said. This came just hours after Foreign Minister Melanie Joly announced that Ottawa had expelled a top Indian diplomat. Adnan Abidi | ReutersPrior to the Group of 20 nations' leaders' summit two weekends ago, Ottawa had paused talks on a proposed trade treaty with Indian Prime Minister Narendra Modi's Bharatiya Janata Party government. India's Prime Minister Narendra Modi (R) shakes hand with Canada's Prime Minister Justin Trudeau ahead of the G20 Leaders' Summit in New Delhi on September 9, 2023.

Persons: Adnan Abidi, Hardeep Singh, Justin Trudeau, Canada's, Melanie Joly, Trudeau, Moninder Singh, Nanak, Hardeep Singh Nijjar, Chris Helgren, Joly, it's, Narendra Modi's, Subrahmanyam Jaishankar, Indira Gandhi, Narendra Modi, Evan Vucci Organizations: Canadian, Reuters, Canadian Government, Ottawa, Indian, Narendra Modi's Bharatiya Janata Party government, India, of, India's, Canada's, Afp, Getty Locations: New Delhi, India, Reuters India, Canadian, Canada, British Columbia, Ottawa, Indian, Sikh, Surrey, Australia, United Kingdom, China, Brampton, of Canada

☆ Rice to get costlier as weather, India's farm perks threaten supply
▼ + stars: | 2023-07-06 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +5 min

"As Indian prices moved up because of the new minimum support price, other suppliers also started raising prices." Yet even before the weather phenomenon can disrupt production, the global rice price index of the Food and Agriculture Organization hovers above an 11-year high. The price of Indian rice exports has jumped 9% to a five-year high, following a hike of 7% last month in the price the government pays farmers for new-season common rice. "Rice prices have already been rising due to limited supplies," added Olam's Gupta. Last month Indonesia signed a rare pact with India to import 1 million tons if El Nino disrupts domestic supply.

Persons: El Nino, Krishna Rao, REA, Rice, El, Nitin Gupta, Gupta, Rosa Wang, Narendra Modi's, Modi, Himanshu Agarwal, Rajendra Jadhav, Qin Ningwei, Tony Munroe, Clarence Fernandez Organizations: Rice, Association, Reuters, El, Food and Agriculture Organization, U.S . Department of Agriculture, El Nino, Reuters Graphics, Shanghai JC Intelligence, Narendra Modi's Bharatiya Janata Party, BJP, Satyam Balajee, Vietnam, Thomson Locations: MUMBAI, India, Ukraine, Asia, Bangladesh, China, Indonesia, Thailand, Vietnam, New Delhi, Singapore, Myanmar, Pakistan, Indian, Philippines

☆ Indian wrestlers suspend protest after promise of swift probe of federation chief
▼ + stars: | 2023-06-07 | by ( Rupam Jain | ) www.reuters.com time to read: +3 min

NEW DELHI, June 7 (Reuters) - India's top wrestlers said they had decided to suspend protests on Wednesday after the country's sports minister promised a swift probe of their federation chief who they accused six months ago of sexually harassing female athletes. The wrestlers have been camping in New Delhi for months seeking the arrest of Wrestling Federation of India (WFI) President Brij Bhushan Sharan Singh, who has denied the allegations. Singh, a six-time member of parliament, has been accused of sexually assaulting seven female athletes, including a minor. His lawyer rejected all the allegations levelled by the wrestlers and said Singh was cooperating with the police in the probe. It has also threatened to suspend WFI if it fails to hold a fresh election this month.

Persons: Brij Bhushan Sharan Singh, Singh, Narendra Modi's, Bajrang Punia, Anurag Thakur, Punia, Sakshi Malik, Vinesh Phogat, . Sports Minister Thakur, Joanna Maranhao, Sakshi Dayal, Hritika Sharma, Bill Berkrot, Raju Gopalakrishnan Organizations: Wrestling Federation of India, Narendra Modi's Bharatiya Janata Party, BJP, Sports, Tokyo, . Sports Minister, Rights Alliance, International Olympic Committee, IOC, Thomson Locations: DELHI, New Delhi, Asian

☆ India's Gandhi to appeal against defamation conviction on "multiple grounds"
▼ + stars: | 2023-04-03 | by ( Sumit Khanna | ) www.reuters.com time to read: +2 min

SURAT, India, April 3 (Reuters) - Indian opposition leader Rahul Gandhi will on Monday lodge an appeal against his conviction for defamation, his lawyer said, hoping to overturn a judgement that resulted in his expulsion from parliament a year before a general election is due. Gandhi, the scion of a dynasty that has given India three prime ministers, was granted bail and a two-year jail sentence was suspended for 30 days allowing him to appeal in a higher court. "Gandhi will challenge the conviction order on multiple grounds," his lawyer, Kirit Panwala, told Reuters in Surat city in the western state of Gujarat where the appeal will be heard. He said the appeal would also highlight what he called procedural lapses in the trial. Writing by Rupam Jain in New Delhi; Editing by YP Rajesh, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Rahul Gandhi to appeal jail sentence
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, April 2 (Reuters) - Indian opposition leader Rahul Gandhi will appeal a two-year jail sentence in a defamation case brought against him by lawmaker from Prime Minister Narendra Modi's Bharatiya Janata Party (BJP), local media reported on Sunday. A lower court sentenced Gandhi on March 23 for two years in jail on charges of defamation. The opposition critics accuse Modi government of giving undue favours to a business group led by billionaire tycoon Adani. Shares of Adani group companies plunged after Hindenburg Research on Jan. 24 alleged that the Indian company had engaged in stock manipulation and used tax havens. A day after Gandhi's conviction, 14 political parties jointly petitioned the Supreme Court, saying opposition groups were being selectively targeted by federal investigative agencies.

☆ India's Gandhi ends 135-day march to revive Congress party in snowy Kashmir
▼ + stars: | 2023-01-30 | by ( Fayaz Bukhari | ) www.reuters.com time to read: +2 min

"All secular parties must come together to liberate the country from BJP," D. Raja, General Secretary of the Communist Party of India, said at the rally. Several other opposition leaders failed to make it to the rally because flights into Srinagar's airport were cancelled due to the heavy snow. The Nehru-Gandhi dynasty has controlled the Congress party for decades but has also overseen its recent decline. Rahul Gandhi resigned as Congress president after the last election. "I am not from the Congress party but want to support the cause Gandhi stands for," Ahmad said.

☆ Modi's party set for landslide election win in India's Gujarat state
▼ + stars: | 2022-12-08 | by ( Sumit Khanna | ) www.reuters.com time to read: +2 min

[1/3] India's Prime Minister Narendra Modi waves to his supporters as he arrives to cast his vote during the second and last phase of Gujarat state assembly elections in Ahmedabad, India, December 5, 2022. The western industrial state is a bastion of the BJP, which has not lost state assembly elections there since 1995. Modi was Gujarat's chief minister for 13 years before becoming prime minister in 2014. The party was also set to surpass its best results in Gujarat when it won 127 seats in 2002. He is eyeing a third term as prime minister in 2024 and campaigned extensively across the state in the run up to the Gujarat vote.

☆ Delhi residents defy Diwali firecracker ban, pollution spikes
▼ + stars: | 2022-10-24 | by ( Krishna N. Das | ) www.reuters.com time to read: +2 min

NEW DELHI, Oct 24 (Reuters) - Many residents of New Delhi defied a firecracker ban on Diwali on Monday as political parties traded blame on who was responsible for the Indian capital's foul air. Delhi Chief Minister Arvind Kejriwal's government said last week that people who let off firecrackers during Diwali would face up to six months in jail, under a broader ban introduced to help combat extreme winter pollution. "Kejriwal's minister had threatened to put those burning firecrackers in jail," said Amit Malviya, who runs the BJP's national information and technology department, posting a video of firecrackers lighting up the Delhi night sky. Earlier in the day, Kejriwal posted two graphics on Twitter showing that Delhi's air quality had improved in the last three years. Register now for FREE unlimited access to Reuters.com RegisterEditing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ India's Congress elects first non-Gandhi chief in 24 years
▼ + stars: | 2022-10-19 | by ( Shivam Patel | ) www.reuters.com time to read: +2 min

NEW DELHI, Oct 19 (Reuters) - India's opposition Congress party on Wednesday declared veteran leader Mallikarjun Kharge its new chief, the first person from outside the influential Nehru-Gandhi family to hold the beleaguered party's presidency in 24 years. Kharge, an 80-year-old from the lowest rung of India's caste system, is seen as a Gandhi family loyalist. "This symbolic change of the president is a very powerful moment for the Congress," Sircar said. Rahul Gandhi, speaking shortly before the party election result was announced, told reporters the new leader would call the shots. "The Congress president is the supreme authority in the Congress party ... Every member reports to them."

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