Morning Digest | Exit polls show Congress win in Telangana, Chhattisgarh, but differ over M.P., Rajasthan; GDP surges 7.6% in Q2, goes past RBI forecast; and more
The Hindu
The Hindu Morning Digest gives a select list of stories to start the day. Read the top news today on November 26, 2023
Exit polls show Congress win in Telangana and Chhattisgarh, but differ over Madhya Pradesh and Rajasthan results
Exit polls results revealed after the Telangana Assembly election concluded on Thursday predicted a Congress victory in the State and Chhattisgarh, but differed over the winner in Madhya Pradesh, Rajasthan and Mizoram.
High-octane polling for Telangana Assembly ends peacefully
Telangana witnessed relatively peaceful polling on Thursday with no major untoward incidents and the most disappointing factor being low voter turnout compared to the previous elections despite the high-octane campaign.
GDP surges 7.6% in Q2, goes past RBI forecast
Despite a tangible growth downturn in the farm and services sectors as well as consumer spending, India’s Gross Domestic Product (GDP) grew at a higher-than-expected 7.6% in the July to September 2023 quarter, as per initial estimates from the National Statistical Office.
PM Modi arrives in Dubai to attend World Climate Action Summit
Bangladesh asks Adani Power to resume full supplies from Jharkhand plant amid payment disputes and low demand.
Rupee strengthens to 86.84 against the dollar amid trade war fears, market volatility, and RBI intervention.
WazirX announced the completion of its asset rebalancing process and urged investors to support its restructuring scheme.
Vespa introduces luxury scooter portfolio in India, unveiling special editions inspired by Indian artistry and opulence.
Dentzz Dental utilizes AI for precision care, leading to increased efficiency, accuracy, and patient satisfaction in dental treatments.
Former CEA Arvind Subramanian critiques RBI policies, fiscal framework, income tax cuts, and weak private investment in India.
President Trump imposes 25% tariffs on steel and aluminium imports, affecting India and prompting concerns over trade relations.
CEA highlights Southern States' economic prowess, urging benchmarking against global standards and emphasizing need for skill improvement.
The Union Budget unveiled on February 1, 2025, has come at a time of unprecedented global uncertainty and a flagging domestic economy. The real GDP growth is estimated at 6.4% for 2024-25 and between 6.3-6.8% for 2025-26, a far cry from >8 percent growth required annually to make India a developed nation by 2047. While much attention has been devoted to the demand stimulus through income tax cuts, not enough is said about the proposed reforms in urban development, tariff rationalisation, and regulatory simplification aimed at making Indian cities and corporates more competitive. Since the majority of economic activity is located in cities (urban areas account for ~55% of GDP) and produced by large corporates (~40% of the national output and 55% of India’s exports), the above-mentioned reforms have a pivotal role in improving India’s trend growth rate. Below we unpack each reform.
IHCL unveils Taj Bandstand luxury hotel project in Mumbai after 17 years, set to be iconic landmark.
Government and LIC selling majority stake in IDBI Bank, with due diligence process underway for potential investors.
Prime Minister Modi's meetings with President Trump may lead to tariff reductions on U.S. goods like pecan nuts.
President Trump announces 25% tariff on steel and aluminium imports, minimal impact on Indian steel industry.