COALITION BUILDING
Nepali Congress & CPN-UML strike deal to oust PM 'Prachanda'; to form new alliance
Nepali Congress President Sher Bahadur Deuba and Communist Party of Nepal-Unified Marxist Leninist (CPN-UML) chairman and former prime minister K P Sharma Oli reached an understanding on forming a new coalition on Monday midnight, according to former foreign minister Narayan Prakash Saud.
Fiscal discipline key to India's growth prospects: Sanjay Nayar
So, we will have to also think about how we channel the energies towards more advanced and more modern techniques and technology, because that is what we need right now.
Uddhav Thackeray's Shiv Sena pushes for 50% Marathi reservation in new Mumbai buildings
In the lead-up to assembly elections, Shiv Sena (UBT) MLC Anil Parab proposed a bill mandating 50% housing quotas for Marathi speakers in new Mumbai projects. Pending approval, it suggests penalties for non-compliance. Legal experts doubt its constitutionality, citing past court rulings against similar quotas. The bill may be introduced this Thursday.
Cyril Ramaphosa swears in for second term as South African president
Cyril Ramaphosa was sworn in for a second term as South Africa's president in Pretoria. He formed a coalition government after his party lost its parliamentary majority. The inauguration ceremony included various dignitaries and marked the beginning of a challenging final term for Ramaphosa, who will lead the first coalition government in South Africa's democratic history.
South African President Cyril Ramaphosa seems set for reelection after key party says it will back him
South Africa's Democratic Alliance (DA) has formally signed a coalition agreement with Cyril Ramaphosa's African National Congress, ensuring he will be reelected in Parliament for a second term. The DA, once the ANC's biggest political foe, will now support Ramaphosa and continue the ANC's three-decade hold on the presidency. The DA, the second largest party in Parliament, has a potentially decisive number of lawmakers.
Manufacturing sector looks for policy continuity, fresh PLIs
Narendra Modi-led NDA govt's third term brings hopes for manufacturing sector with policy continuity, new PLI schemes, and TDP's Chandrababu Naidu joining alliance for reform and innovation.
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Industry expects growth-oriented policies; doesn't see coalition as speedbreaker: Anish Shah
Mahindra Group CEO and MD Anish Shah expressed optimism about the continuation of growth-oriented policies in the third term of Prime Minister Narendra Modi-led government. He emphasized that coalition politics will not hinder progress. The industry expects the government to focus on manufacturing for the world, women-led development, farm-led prosperity, and sustainability.
Swearing-in ceremony of a coalition government
It was the fifth oath-taking ceremony at the Rashtrapati Bhavan forecourt and was the largest. Besides Prime Minister Narendra Modi, leaders of regional parties, including Chirag Paswan and Ram Mohan Naidu, received the loudest cheer.
Modi-led NDA govt must tackle unemployment problem, especially in unorganised sector: Rajiv Kumar
Former NITI Aayog Vice Chairman Rajiv Kumar emphasized that the Modi government's third term must address unemployment, particularly in the unorganized sector and SMEs. He highlighted the need to finalize the delayed four labor codes and recognized the K-shaped economic recovery post-COVID. Large corporations and highly skilled individuals have prospered, while lower-end workers and SMEs struggle.
Transgender community members, sanitation workers, labourers to attend Modi's oath ceremony
Transgender community, labourers, and sanitation workers who contributed to the new parliament building are invited to PM-designate Narendra Modi's swearing-in ceremony. BJP MPs felicitated them as part of PM Modi's inclusivity message. This is the first formal invitation to the transgender community for such an event.
India to scale 'new heights' of progress under PM Modi's leadership, say NDA partners
President Droupadi Murmu appointed NDA Parliamentary Party leader Narendra Modi as prime minister-designate. Modi received congratulations from BJP and coalition leaders predicting progress under his leadership over the next five years. Telugu Desam Party MP Kinjarapu Ram Mohan Naidu confirmed support for the NDA, emphasising their commitment to nation-building and regional aspirations. Various leaders expressed confidence in Modi's leadership and the NDA government's ability to advance the country's development.
Decades-old NDA a natural alliance: Modi
Prime Minister Narendra Modi emphasised at the first NDA parliamentary party meeting of the 18th Lok Sabha that the alliance's longevity of over three decades is due to its organic nature focused on nation-building, highlighting the importance of consensus over majority, good governance, and collaboration among partners for the country's growth, while also taking jibes at the Opposition over the EVM controversy during the elections.
Rajnath Singh hails PM Modi, says NDA identified as family that upholds coalition dharma
Senior BJP leader Rajnath Singh praised the NDA government for upholding coalition values and reiterated that coalition is a commitment, not a compulsion. He congratulated PM Modi on being re-elected as NDA Parliamentary Party leader, emphasising Modi's leadership, vision, and efficiency. Singh highlighted the government's achievements in the past ten years, stating India is poised to lead globally. BJP secured 240 seats, NDA 293, ensuring majority in the Lok Sabha.
What happens to India's startups with a coalition government at the Centre? Here is what they want
As a new coalition government gears up, startups call for clearer regulations, simpler relocation processes to India, and a more straightforward legal framework. Tax department's approach, including issues like angel tax and GST notices, concerns the industry. Simplified registration, advocated by Perfios CEO, could boost startups. Fintech sector seeks tiered MDR for UPI.
Hindalco, HUL, GAIL among 24 stock recommendations by Yes Securities
Yes Securities has mentioned 24 stocks across 8 sectors, including Hindalco, HUL, GAIL, in its conviction list, stating that the markets tend to perform well after the election results.
Valuations in PSU capital goods, infra & defence remain expensive: Pratik Gupta
The macro environment is extremely stable, whether it is the fiscal deficit, the current account deficit, inflation, forex reserves, so that is really one of the big attractions for both global as well as domestic investors.
Modi's coalition government will be beneficial for India, says Eurasia Group
Eurasia Group President Ian Bremmer considers India’s new coalition government under Prime Minister Narendra Modi the best outcome for the country. The divided power structure necessitates consensus-building, benefiting Indian democracy. Modi’s need for allies to govern will drive economic reform but may slow contentious agendas like Hindu nationalism.
Is it prudent to chase FMCG stocks or wait for correction? Gurmeet Chadha answers
The tougher reforms I think might take a bit of a backseat or probably would require more manoeuvring but the normal policy reforms like the price to be given for defence or power solar panels or auto and in general the economic reforms which are more BAU and not really needs coalition dharma will continue.
Third Eye: Maintaining punctuality, a victim of his own claims & the buzz is back
Mumbai BJP chief Ashish Shelar has learnt the hard way that a thin line separates confidence and overconfidence. During the election campaign, when Uddhav Thackeray repeated that BJP would not return to power, Shelar said Thackeray should quit politics if the NDA tally in Maharashtra crosses 45. He added that he would quit politics if the Opposition tally reaches 18 in Maharashtra. After MVA bagged more than 18 seats, Opposition politicians are taking turns to tag him on X, to ask when he would quit politics and who his replacement would be.
Coalitions, building economic agreement
India's economic reforms are not slowed down by re-entering coalition politics. The country has a history of tough decisions and reformist outcomes under coalition rule since the 1990s.
NDA to form government, big decisions will be made in third term: PM Modi in victory speech
PM Narendra Modi today said that the BJP-NDA alliance is set to form government for the third time. Speaking to party workers at the BJP headquarters in New Delhi, he said that after 1962 this is the first time that a govt is coming back for third term. The prime minister also highlighted that BJP is set to form government in Odisha for the first time.
Lok Sabha Election Results 2024: From Dhruv Rathee to RCB, check out Hilarious memes that will make your day
As the numbers rolled in, social media exploded with memes and reactions. People across platforms like X (formerly known as Twitter) and Instagram were quick to comment on the BJP's unexpected performance. Memes about the "400 Paar" slogan not hitting the mark were everywhere, showcasing the internet’s knack for humour even in serious political moments.
Haryana Exit Polls 2024 Live Updates: BJP to dominate Haryana with 6-8 seats, predicts multiple exit polls
Haryana2024 Exit Polls Live Updates: The state of Haryana, ranking 18th in India's Lok Sabha seat allocation, has ten seats. Out of these, nearly eight are unreserved, and two are reserved for SC candidates. The BJP had won all ten seats, building on their success from 2014 when they secured seven seats.
Anticipating INDIA bloc victory, women rush to open India Post accounts to get Rs 8,500 per month
Bengaluru's General Post Office is crowded with women, mainly from minority communities, rushing to open India Post Payment Bank accounts. They believe they'll receive Rs 8,500 monthly if the INDIA bloc wins the election. The Chief Post Master clarified it's a rumor, but the rush persists, with hundreds of accounts opened daily.
Downsides of coalition govt are as exaggerated as virtues of single-party rule
Most people equate a government by a single party that enjoys a majority in Parliament with political stability, efficient decision-making and living happily ever after. In this view, coalitions carry the risk of instability, erratic policy and economic woes. India's own recent history shows that such views are unfounded.
Eye on AI: Apple’s chip game, Meta's GenAI tools for advertisers and other top developments
Apple integrates AI features into data centres and new iPad Pro. Meta launches enhanced generative AI tools. OpenAI joins C2PA steering committee. US lawmakers introduce bill on AI models export control. Microsoft and OpenAI fund AI literacy for voters.
Xi Jinping among pigeons
Fissures have appeared in the ‘coalition of democracies’ to counter China. Beijing has used this opportunity to try and play itself back in Europe. Xi Jinping is currently on his first trip to Europe in five years, visiting France, Serbia and Hungary. He hopes to navigate the most difficult obstruction - the EU itself - in these conversations
NDA's '400 paar' dream faces reality check, Bernstein report suggests
The Bernstein Societe General Group's latest India Strategy report analyzes the political landscape post the 18th Lok Sabha elections, highlighting challenges and opportunities for market sentiments. Despite record-high valuations in small and mid-cap sectors, stabilizing trends, and pre-election optimism, the report underscores potential hurdles for the government's ambitious targets, emphasizing the need for sustained fiscal responsibility and cautious market optimism.
Pakistan's newly-elected PM Shehbaz Sharif rakes up Kashmir issue
Pakistan's newly-elected Prime Minister Shehbaz Sharif pledged to improve ties with all leading nations, highlighted the challenges of a budgetary deficit and debt paying, and emphasized the need for economic reform and investment to achieve self-sufficiency. He called for the elimination of terrorism and offered reconciliation to the opposition.
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