UPA ERA
Investment returns during coalition govt: Modi 3.0 might be good for stock market, mutual fund investors, show trends during previous govts
How will be Modi 3.0 for investments? The stock market experienced a sharp decline following the Lok Sabha elections 2024, causing concern among young investors. They are worried about their investments as a coalition National Democratic Alliance (NDA) government prepares to take oath on June 9, 2024. Will the volatility in the stock market continue? How will NDA-3.0 be for your hard-earned money? Is there a bad government for your investments? Should the incoming government worry debt investors? Should you invest in equities, mutual funds or debt instruments? Questions such as these are worrying investors. So here are some answers that should give an idea of what is in store for you in the next five years.
Lok Sabha Results: Coalition govt is back. Will policy paralysis too strike again?
Over the past decade, Narendra Modi has propelled India's economy to become one of the fastest-growing globally, positioning it to soon rank as the world's third-largest. His emphasis on reforms and dynamic policies, exemplified by initiatives like Make in India, has bolstered manufacturing and infrastructure growth. However, the recent Lok Sabha election results, leading to a coalition government, raise concerns about potential challenges and policy paralysis ahead. Expert analyses suggest that while coalition governments have historically been effective in driving economic growth, they have struggled to control inflation.
Brute majority or coalition pressure, India's growth to be perpetual theme
India's growth story may thrive under a coalition rule despite no party having an absolute majority. Past data suggests coalition governments have effectively boosted growth but struggled with inflation. Inflation rates varied under different regimes, with Narendra Modi's government seeing 5.4% inflation during its tenures.
From supremacy to coalition dharma: A new path for BJP
In the aftermath of the Lok Sabha election results, the BJP-led NDA appeared unlikely to reach the majority mark on its own, signaling a return to coalition politics. With allies like TDP and JD(U) in focus, intense negotiations are underway as the BJP navigates forming a government amidst unexpected outcomes. The transition from Modi's majority rule to coalition governance poses challenges and uncertainties for India's political landscape.
Modi govt turned around banking sector, over Rs 10 lakh crore bad loans recovered in 10 years: Nirmala Sitharaman
Finance minister Nirmala Sitharaman highlighted the Modi government's success in the banking sector, recovering over Rs 10 lakh crore from bad loans. The Enforcement Directorate investigated 1,105 bank fraud cases, attaching proceeds worth Rs 64,920 crore.
Aircel founder C Sivasankaran praises Modi govt, says today's India is not like what it was a decade ago, criticises UPA for pressuring businesses
Aircel founder Chinnakannan Sivasankaran has praised India's current business environment, noting, "Today no one can pressurize you." He contrasted this with the coercive pressures of a decade ago under the UPA regime, when Aircel faced severe financial struggles, intense competition, and regulatory challenges, ultimately leading to its market exit and liquidation in 2018.
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PM's active role, personal monitoring responsible for infrastructure sector turnaround, says FM
Nirmala Sitharaman praises PM Narendra Modi for reviving the infrastructure sector, highlighting the neglect during the UPA regime and the significant advancements made under the Modi government, including the expansion of the Metro network, growth in the aviation sector, and initiatives to boost the maritime ecosystem.
S Jaishankar slams UPA's response to 'not to do anything' post the 2008 Mumbai attacks, stresses on strong border defence
S Jaishankar criticizes the UPA government's response to the 2008 Mumbai attacks, emphasizing the need for a stronger defense posture. He highlights India's role as a voice of the Global South and stresses the importance of supporting the military and building infrastructure for border defense.
ED searches, assets attachment, convictions rose exponentially during BJP rule compared to UPA era
While the opposition parties have alleged that the ED's action during the last decade was part of the BJP-led central government's "oppressive" tactics against its rivals and others, the Union government and the ruling party have asserted that the agency is independent and its investigations were purely based on merit and under the mandate to act against the corrupt.
UPA seized RBI to paint picture of rosy economy: Anurag Thakur
Anurag Thakur criticized Congress-led UPA for manipulating RBI during 2004-2014 for false economic growth. Ex-RBI Governor D Subbarao's memoir detailed government interference in lowering interest rates.
Whoever questions govt is called 'anti-national', should be seen as 'badge of honour': Kanhaiya Kumar
On some calling Jawaharlal Nehru University (JNU) students "anti-national" after a protest in 2016, the former JNU students' union president said it is a "badge of honour" and not something to feel bad about.
Indian talent in IT sector will play important role in bringing jobs to India: Anurag Thakur
Taking a dig at the Congress, the Union Minister said, "Can you imagine 10 years back our countrymen were finding it even difficult to think about freeing themselves from the clutches of corrupt Congress party and its alliance partners where one after another scam took place."
Congress still arrogant, it is not above law: Anurag Thakur on I-T dept notices to party
Defending the issuance of fresh notices by the I-T department to the Congress, Union minister Anurag Thakur on Saturday lashed out at Congress for its "arrogance" and said the party is not above law. Thakur claimed the Congress changed its name from the United Progressive Alliance (UPA) to Indian National Developmental Inclusive Alliance (INDIA) to hide its corruption.
'No evidence of wrongdoing': CBI closes UPA-era Air India aircraft leasing
The CBI has filed a closure report in its probe into alleged irregularities in aircraft leasing by NACIL, formed by the Air India-Indian Airlines merger, citing no evidence of wrongdoing. The investigation, initiated in 2017, found no irregularities. Other cases related to Air India's alleged irregularities, including seat-sharing with private airlines, are ongoing. The special court will decide whether to accept the report or order further investigation. The case involves leasing aircraft despite low load factors, resulting in losses to Air India and gains for private entities.
Ex-Army chief VK Singh sabotaged revocation of AFSPA in J-K, alleges Omar Abdullah
National Conference vice president Omar Abdullah accused BJP leader Gen (retd) V K Singh of hindering the revocation of AFSPA during UPA-2. Abdullah questioned Singh's opposition to revoking AFSPA, urging the Union home minister to address public movement issues on the Srinagar-Jammu highway and release J-K prisoners. Abdullah expressed concern that AFSPA promises may not be upheld post-elections.
Hold your zebras, politicos!
Much time has been spent juxtaposing and contrasting a welter of accusations and counter-accusations, claims and counter-claims, between the two groups. The exercise now resembles a theatre of the absurd in India's political economy. What we have here is stringing up facts and figures without a basic understanding of the 'dismal science'. This is a battle of purely political narratives that defy the rules of economics.
Sonia Gandhi as 'super PM' was at the heart of UPA's economic mismanagement: Nirmala Sitharaman
Sitharaman accused the Congress of compromising on national security, delaying environmental clearances to projects, saying it was because of the leadership failure.
As FM tables White paper on Indian Economy, here's what it states on NDA's efforts for a turnaround
The Narendra Modi-led government has released a 'White Paper on Indian Economy', detailing the macroeconomic situation under the UPA government, the status of corruption scams, and a turnaround of the economy under the NDA rule. The government recognizes the need to revamp systems and processes, adopt transparent governance, involve citizens in policymaking, establish an expenditure reform commission, shift welfare focus from entitlement-based support to empowering individuals, and strengthen the economy and business sector.
"I feel very emotional at this point": Narasimha Rao's grandson, NV Subhash, thanks BJP after Bharat Ratna announcement
After Prime Minister Narendra Modi announced that former Prime Minister PV Narasimha Rao would be posthumously conferred the Bharat Ratna, BJP leader NV Subhash expressed gratitude, thanking BJP Telangana for the recognition. Subhash blamed the UPA government for making Rao a scapegoat and praised PM Modi for the timely honor.
White Paper: UPA left 62 crore in darkness due to India's largest power outage in 2012, Modi govt attacks Congress
The government criticized the UPA regime, citing the 2012 power outage affecting 62 crore people, as it presented a 'White Paper on the Indian Economy.' Finance Minister Nirmala Sitharaman outlined the economic mismanagement during UPA's tenure. The paper highlighted power sector woes, including idle generation capacity due to fuel shortages. It emphasized the precarious state of power supply upon NDA's 2014 arrival, citing critical coal stocks and inadequate transmission infrastructure.
Rahul Gandhi says 100% regret that UPA government didn't include OBC sub-quota in its women's Bill
Asked why he was making the demand for OBC sub-quota only when he is in Opposition given the Congress-led UPA regime for 10 years didn’t incorporate the same OBC sub-quota in its Bill and whether he regretted it, Gandhi said: “I have 100% regret that we didn’t include OBC sub-quota in the women’s reservation bill when we were in government. It should have been done then. We will have it done now.”
Women's reservation bill a 'shugufa', says Sachin Pilot
Pilot also questioned the need to change the women's reservation bill that was passed by the Rajya Sabha during the UPA tenure in 2010. He said if the BJP-led Centre had a clear intention, it could have passed the UPA-era bill. There have been several efforts to introduce the women's reservation bill in the Lok Sabha and state assemblies since 1996. The last such attempt was made in 2010 when the Rajya Sabha passed the bill but it could not be passed in the Lok Sabha.
"Will usher in new era of women-led development": Yogi on passage of women's reservation Bill in LS
Uttar Pradesh Chief Minister Yogi Adityanath congratulated the passage of the women's reservation Bill in the Lok Sabha. The Bill aims to ensure better representation of women in Parliament and other legislative bodies. Adityanath believes that this legislation will strengthen India's democratic system and lead to women-led development in "New India". The Bill was passed with a majority vote of 454 members in favor and two against it. It will now be taken up by the Rajya Sabha.
Centre tables Women's Reservation Bill; similarity to UPA-era proposal kicks off war of words
The Narendra Modi government has introduced the Women's Reservation Bill in the Lok Sabha, fulfilling promises made in the 2014 and 2019 elections. The bill aims to reserve 33% of seats for women in the Lok Sabha and state legislatures. It also proposes that one-third of the seats reserved for Scheduled Castes and Scheduled Tribes will be reserved for women.
Kharge says Modi govt has rendered country's health system 'sick', Mandaviya points to UPA's 'failure'
Congress president Mallikarjun Kharge on Sunday alleged the Centre has rendered the country's health system "sick" with even AIIMS facilities grappling with staff shortage, drawing a sharp rebuttal from Union Health Minister Mansukh Mandaviya. Taking to X, formerly known as Twitter, Kharge targeted Prime Minister Narendra Modi, citing a media report which claimed that 19 All India Institutes of Medical Sciences (AIIMS) are facing a shortage of doctors and other staff.
India on a roll owing to landmark reforms under PM Modi, says Bernstein report
India has climbed from being the world's tenth-largest economy to the fifth-largest supported by landmark reforms, such as the Goods and Services Tax (GST), and an unprecedented infrastructure push, according to Bernstein. The brokerage's report on PM Modi's tenure, 'The decade under PM Modi - a deep dive,' praises the country's progress in areas, including digitisation, formalisation of the economy, financial inclusion and infra spending.
Manmohan was extraordinary, but India 'stalled' due to delays during UPA-era: Narayana Murthy
"Unfortunately, I don't know what happened (to India) afterwards. (Former PM) Manmohan Singh was an extraordinary individual and I have tremendous respect for him. But, somehow, India stalled (during UPA-era). Decisions were not taken and everything was delayed," said co-founder of IT giant Infosys, N R Narayana Murthy in Ahmedabad.
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