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Apr 5 • 4 tweets • 3 min read
Warming up to #Russia may help as growth forecasts have been cut and #FuelPrices are rising but could sabotage the tightrope New Delhi is walking with the West. scroll.in/article/1021012

@MitaliLive writes
The expectation is that the Reserve Bank will now lower its GDP growth to 7.5% from 7.8%. If it does not, it would be both shocking and divorced from data. I do not think the central bank governor will choose to be that sanguine, @MitaliLive writes

Read: scroll.in/a/1021012
Conflicting economic, strategic interests loom over RBI’s Monetary Policy Committee meeting

Rating agency ICRA has slashed India’s GDP forecast for the 2022-’23 financial year to 7.2% from the earlier projection of 8%. By @MitaliLive ✍️

scroll.in/article/102101…
The Reserve Bank’s own October Report stated that a 10% increase in crude oil prices from the baseline could lead to 30 basis points higher inflation, and 20 basis points weaker growth.

By @MitaliLive ✍️

scroll.in/article/102101…

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More from @scroll_in

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Apr 5
There are 26.93 crore people living below the poverty line in the country, as per official estimates.

They are entitled to a range of benefits, such as subsidised food grain, housing and credit schemes. (Via @IndiaSpend)

Read more: scroll.in/article/1021052
What statistics miss: Even households earning eight times the poverty line suffer from deprivation

The poverty line is based on the expenditure required to maintain a minimum level of health, education and nutritional outcome. (Via @IndiaSpend)

scroll.in/article/102105…
An income or consumption-based poverty line serves the purpose of tracking the decline in poverty.

It does not convey any information about how vulnerable the people just above the poverty line are. (Via @IndiaSpend)

scroll.in/article/102105…
Read 4 tweets
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Apr 5
Lok Sabha passes #CriminalProcedureIdentificationBill2022 that will allow police to collect biometrics of convicts

Opposition leaders raised concerns about the protection of the data that will be collected scroll.in/latest/1021115
Union Home Minister Amit Shah said that the Bill is meant to ensure that police and investigators are two steps ahead of criminals.

“We have no intention of misusing the provisions of the Bill,” Shah said while replying to a debate on the Bill. scroll.in/latest/1021115
The [Criminal Procedure] Bill paves the way for India to become a surveillance state, Congress leader Manish Tewari said.

“It [the Bill] is also against the widely accepted dictum that everyone should be treated innocent unless proven guilty,” he said scroll.in/latest/1021115
Read 5 tweets
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Apr 5
Ukraine, state taxes and electric vehicles: How BJP is defending sky-high fuel prices

Critics, though, point to Central taxes being the major factor behind the #FuelPriceHike
scroll.in/article/1020972

By @UmangPod
Critics often complain that the Centre only increases and never reduces domestic prices based on international prices.

For instance, while Int'l oil prices plummeted during the pandemic, oil prices in India remained the same as the govt increased excise. scroll.in/article/1020972
The BJP and its supporters have attempted to manage the political fallout of this steep rise by offering a host of excuses for why #FuelPrices are shooting up.

@UmangPod looks into some of those excuses and what experts and opposition have to say. scroll.in/article/1020972
Read 7 tweets
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Apr 4
Former Bengaluru Police Commissioner Bhaskar Rao joins AAP

#AAP has said it will field candidates in Karnataka for the 2023 Assembly Elections.

scroll.in/latest/1021070…
#BhaskarRao was the Bengaluru police commissioner from August 2019. Previously, he had served as the additional director general of police for a little over five years.

scroll.in/latest/1021070…
“Whenever I used to come to Delhi, I have closely watched the transformation in the city.”

#BhaskarRao said he was especially impressed with the party’s contribution to the public education system in the Capital. scroll.in/a/1021070
Read 4 tweets
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Apr 4
Journalists attacked in Delhi: Police file case against reporter, news portal for ‘promoting enmity’

The case was filed against Meer Faisal and news website ‘Article 14’.

scroll.in/latest/1021073…
Delhi Police today filed a case against a journalist and a news portal for their tweets about the targeting of seven journalists at a Hindutva event in the Capital.

The case was filed against Meer Faisal and news website Article 14. scroll.in/a/1021073
Faisal was among the journalists who were assaulted at the event on Sunday. A journalist who was covering the event for Article 14, Arbab Ali, was among three reporters who were verbally abused there.

scroll.in/latest/1021073…
Read 7 tweets
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Apr 4
#hdfcmerger | Housing finance company #HDFC Limited announces merger with #hdfcbank

Following the announcement, shares of the two entities witnessed a sharp rise of between 8-9% each on key equity indices. scroll.in/latest/1021058
#hdfcmerger | As per the proposed deal, HDFC Bank will be 100% owned by public shareholders and existing shareholders of HDFC will own 41% of the bank.

Each shareholder will get 42 shares of HDFC Bank for every 25 shares of HDFC scroll.in/latest/1021058
In a press conference, #HDFC chairperson Deepak Parekh termed the deal a merger of equals.

“After 45 years in housing finance, we have to find a home for ourselves which we found in our own family company HDFC Bank.” scroll.in/latest/1021058
Read 5 tweets

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