SITHARAMAN ELECTORAL BOND
UBS fund manager likes China's junk debt but is skeptical on India
“In India, the market underestimates the risk, while in China high yield, Sri Lanka and certain other corners of EM, the market overestimates the risk,” Khan, who manages combined assets of roughly $1 billion, said in an interview this week.
Kapil Sibal slams Finance Minister Nirmala Sitharaman's remarks on electoral bonds
Kapil Sibal, a Rajya Sabha MP, criticizes the BJP for considering the revival of the electoral bonds scheme, which was declared unconstitutional by the Supreme Court. He disputes Finance Minister Nirmala Sitharaman's claim that the scheme was introduced for transparency, citing the court's verdict. Sibal accuses the BJP of preparing for potential defeat by planning to reintroduce the scheme if re-elected.
BJP wants to continue loot: Congress slams Nirmala Sitharaman's remarks on electoral bonds
The Congress criticized the BJP over Finance Minister Nirmala Sitharaman's statement suggesting a return of electoral bonds after consultations, accusing them of wanting to "continue the loot" after allegedly looting Rs 4 lakh crore of public money. Jairam Ramesh, in a social media post, labeled four methods of what he called the "PayPM" scam, including prepaid and postpaid bribery, post-raid bribery, and involvement of fake companies in money laundering.
Electoral bond scheme was better than earlier system of giving sacks, suitcases filled with money to parties: Nirmala Sitharaman
The senior BJP leader also defended the electoral bond scheme, saying it was introduced through a law passed in Parliament and was a better system as the transfer of money was visible in accounts instead of the earlier practice when cash-filled "sacks" and "suitcases" were given to parties.
Situation in country bad as 2 CMs in jail: Gehlot
Ashok Gehlot criticized corruption through electoral bonds, jailed chief ministers, and frozen Congress accounts. He mentioned Rs 8,500 crore collected, intimidation via ED, and leaders absolved of sins after joining BJP.
Kerala CM accuses BJP-led Centre of endangering Indian secularism; attacks Congress for being silent
Kerala CM Pinarayi Vijayan condemns BJP for jeopardizing India's secularism, democracy, instilling fear. Global criticism arises over recent events, questioning democratic practices, affecting India's reputation, including CAA enforcement and Delhi CM's arrest.
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Adhir Ranjan Chowdhury praises economist Parakala Prabhakar for his views on electoral bonds
Parakala Prabhakar while speaking to a television news channel has said that "Electoral bond scam is not just the biggest scam in India but the biggest scam in the world. After electoral bond corruption became public, now the fight is not between two alliances but between the BJP and the people of India."
All major parties encashed electoral bonds; nobody has moral authority to say anything, says Finance Minister
The system of electoral bonds was still better than the previous system, "which is what we've gone back to now. We need to do something better, but a lot more work is required", she added. Last month, a five-judge apex court bench, headed by Chief Justice of India D Y Chandrachud, said the electoral bonds scheme violates the right to information and the freedom of speech and expression under the Constitution.
Karnataka among highest recipients of FDI, CM Siddaramaiah says countering FM’s comments
Karnataka Chief Minister Siddaramaiah challenged FM Sitharaman on her FDI remarks, emphasizing that Karnataka's FDI ranking and growth is much better. He compares empowerment policies, disputes Centre's dues, and addresses special grants, fiscal bias, protests, and false claims.
ET Awards for Corporate Excellence: Mercury rising ahead of a sizzling poll season
Just like the evening of The Economic Times Awards for Corporate Excellence 2023, New Delhi is convinced that the economy too is glittering — with inflation in check, jobs being created and focus firmly on manufacturing and next-gen reforms.
ET Awards: Reforms cannot stop just at central govt’s doorstep, says FM
As reforms take root in the country, it is imperative that they touch every aspect of business and governance, says finance minister Nirmala Sitharaman.
ET Awards 2023: No link between ED actions and electoral bond purchases, says Sitharaman
Sitharaman addressed misconceptions on ED-bond ties and advocated for comprehensive reforms involving states and local bodies. Finance minister Nirmala Sitharaman also pointed to govt’s next-gen reforms plan, said not enough data on private investments in sunrise sectors and job creation, asserts inflation under control.
No link between ED raids and political donations to ruling party: FM
Finance Minister Sitharaman addressed allegations of ED raids' ties to electoral funding, advocating for a transparent political funding system. She discussed the electoral bond scheme's imperfections and the Supreme Court's ruling on its constitutionality, emphasizing the need for transparency in political funding.
Electoral Bonds scrapped, what's next? FM Nirmala Sitharaman comments over poll bond controversy
Finance Minister Nirmala Sitharaman responded to the Electoral Bonds controversy, suggesting that assumptions are shaping the discourse. At the India Today Conclave, she acknowledged imperfections in the electoral bond system but highlighted the need to learn from the Supreme Court's ruling for greater transparency. The system, though imperfect, is an improvement from the past, where money wasn't routed through bank accounts.
BJP's two-day national council meeting begins today
The BJP is holding a two-day meeting in New Delhi with 11,500 delegates to outline its campaign themes for the upcoming Lok Sabha elections. Prime Minister Narendra Modi is expected to deliver a speech setting the party's campaign goals, aiming for the BJP to win 370 seats in the elections. The meeting will also discuss key issues such as the economy, the Ram temple construction in Ayodhya, and the government's welfare initiatives.
Fiscal prudence vs populist pomp: Nirmala Sitharaman chooses the road less travelled
The Budget numbers are undoubtedly encouraging. It trimmed the fiscal deficit to 5.8% of GDP, a slight but symbolic reduction from the previously budgeted 5.9%, and eyes a more ambitious 5.1% for the next financial year.
India has bigger strategies for aam aadmi beyond Budget's income tax slab disappointment
The common man awaits to hear in the Budget if the govt will ease tax rates, impacting cash in hand. While the interim Budget didn't change income tax slabs, it did address the headache of fiscal deficit, which impacts a country's wallet. Fiscal prudence was prioritised, and the government aims to narrow the budget gap. A higher fiscal deficit leads to higher government debt and higher interest payments. The government stuck to fiscal prudence despite elections, and reduced borrowing may lead to lower interest rates.
ET Exclusive: We know how to handle the fallout of high US rates, says Finance Minister Nirmala Sitharaman
For India, this coming quarter is the quarter when people open up their purses (festive season). They go out spending and it is not as if it is some onetime thing. It pans between September and goes till December. Till after the new year you would have enough reasons to believe that demand situation is going to only go up. So, I expect the next quarter will also do well, says FM Nirmala Sitharaman.
Govt wants to 'hand over' India's food grain logistics to Adani Group, alleges Congress
The Congress has been persistent on its attack on the government weeks after Adani Group stocks took a beating on the bourses after US-based short seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation. The Gautam Adani-led group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
Chhattisgarh chief minister Bhupesh Baghel says NPS money belongs to state's employees
"The money belongs to the state's employees and the state has also contributed to it. Not a single penny belongs to the Centre. We have been demanding that this be returned to the state but the Centre is not agreeing to it. I have told officials to discuss with employee unions and suggest a solution to this. They will come back with suggestions which will be considered," Baghel said.
RS poll: Top guns Sitharaman, Randeep Surjewala, Sanjay Raut elected, BJP wins big
Maharashtra's ruling Shiv Sena-NCP-Congress alliance suffered a jolt as the main opposition BJP won three of the six Rajya Sabha seats in the state, the results of which were announced early Saturday.
RBI had no objection to issuance of electoral bonds through SBI: FM
Nirmala Sitharaman on Tuesday said in Rajya Sabha that the RBI had no objection to issuance of electoral bonds through SBI. Replying to a supplementary during the Question Hour on electoral bonds through the SBI, the Finance Minister said RBI being a stakeholder was involved in extensive consultations with the government at the stage of conceptualisation.
Hoarding of Rs 2,000 notes falling: Govt
The government said a declining trend in hoarding of cash in Rs 2,000 banknotes may be coming down. In a reply to a question on action against hoarding of highvalue notes, Nirmala Sitharaman said that an analysis of the cases involving cash seizures reveals the percentage of unaccounted cash in denomination of 2000 is 43.22% compared to 67.9% in 2017.
Market Movers: What changed for D-Street while you were sleeping
Here’s breaking down the pre-market actions.
Why another rate cut may not help India
India and RBI are in a bind. All the macro figures look stable. But, every predictive gauge is flashing red.
Budget 2019: Can Sitharaman balance public aspirations with BJP's electoral promises
For the moment, therefore, Nirmala Sitharaman has no alternative but to rationalise/reorient expenditure.
View: Before big reforms understand Modi govt's politics, optics and tactics
The government view and experts’ view on the economy may be quite different.
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