India economic growth seen stuck in low gear

India’s economy will slow considerably this fiscal year as the global economic slowdown impedes domestic growth prospects, according to a Reuters poll, which showed inflation will remain elevated despite recent interest rate hikes.

While the expected expansion would be faster than other major economies, it will be below the long-term average.

Growth in Asia’s third-largest economy was expected to slow to 6.0% in the fiscal year to end-March 2024, unchanged from a March survey, after likely growing 6.9% last fiscal year, according to an April 10-19 Reuters poll of 45 economists.

The Reserve Bank of India’s projection was 6.5% for this fiscal year. The range of forecasts in the poll had widened from last month.

All respondents in the latest poll predicted a notable deceleration in economic growth this fiscal year, with the most optimistic forecast 6.6% and the weakest 4.4%.

“With the pent-up demand induced technical rebound over, following the deep pandemic-led contraction, India’s real GDP is expected to slow down substantially... in FY24,” said Kunal Kundu, India economist at Societe Generale.

“We believe domestic demand will barely support economic activity but not drive growth. We expect public capex-led infrastructure investment to be the major growth driver, while private business capex would still likely remain quite subdued.”

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What next for Rahul Gandhi and his electoral career?

Rahul Gandhi, the senior leader of India’s main opposition Congress party, has been disqualified as a member of parliament after a local court convicted him of defaming Prime Minister Narendra Modi — a huge setback for his party ahead of national elections next year.

India’s lower house of parliament said the disqualification was effective from March 23, the same day the local court found Gandhi guilty of making a disparaging remark about Modi’s name.

A court in Surat rejected Congress leader Rahul Gandhi’s application for stay on his conviction in a criminal defamation case over his “Modi surname” remark.

A stay on conviction by the Sessions Court could have paved the way for his reinstatement as the Member of Parliament.

Gandhi, who represented Wayanad in the Lok Sabha, was disqualified a day after he was sentenced to two years imprisonment in the case filed by BJP MLA Purnesh Modi under Sections 499 and 500 (defamation) of the IPC.

The Sessions Court will continue the hearing on his main plea against the order, according to the reports.

The Congress, meanwhile, said it will continue to avail all options available under the law.

What it means for Rahul Gandhi

The disqualification means Rahul could remain out of the electoral politics for some time. According to the law, a lawmaker remains disqualified for six years after the sentence is completed. In other words, Rahul will be ineligible to contest in the 2024 general elections if he is unable to get the conviction revoked by higher courts.

Given that around a year is left for the next general elections, it also remains to be seen if the Election Commission will order fresh elections in Wayanad.

Gandhi has been disqualified under Section 8 of the Representation of the People Act, 1951, according to which a lawmaker sentenced to not less than two years will be disqualified.

As per the law,a person convicted of any offence and sentenced to imprisonment for not less than two years will also continue to remain disqualified for another period of six years after the release.

It will be interesting to see how the Congress uses the developments in Karnataka and other Assembly elections due this year.

The BJP has hailed the Surat court’s decision calling it a “victory” of the judiciary and the people.BJP spokesperson Sambit Patra called the court’s decision “a slap on the arrogance of the Gandhi family, especially Rahul Gandhi.” It also proves that law is equal for everyone, he added.

Key assembly elections are due this year, which will also set the tone for the 2024 Lok Sabha elections.

Apart from Karnataka, Rajasthan and Chhattisgarh are also due for polls this year. Both the states have Congress governments. Madhya Pradesh elections are also due this year.

BJP leaders are also expected to use his words as an “insult to the OBCs”, the largest vote block not just in Karnataka but the country, in their election rallies.

Missing climber found alive in critical condition

Indian climber Anurag Maloo, who went missing on Monday while descending from Camp III on Nepal’s Mount Annapurna, has been found alive in critical condition by rescuers.

The climber Anurag Maloo, who went missing on Monday after falling into a deep crevasse on Nepal’s Mount Annapurna, has been found alive in critical condition by rescuers, his brother said on Thursday.

Anurag, 34, a resident of Kishangarh in Rajasthan, went missing on Monday after he fell from around 6,000 metres while descending from Camp III.

Mount Annapurna is the 10th highest mountain in the world.

“He is found alive. He has been taken to the hospital in critical condition, ..

Human sacrifice’ in Fatehgarh Sahib

Police in Punjabi on Thursday successfully solved a sensational case of ‘human sacrifice’ bid on a middleaged woman with the arrest of two persons, who attempted to murder the victim as part of sorcery to get wealthy.

Inspector General of Police (IGP) Ropar Range Gurpreet Singh Bhullar has identified the accused persons as Kuldeep Singh alias Keepa and Jasvir Singh alias Jassi, both residents of Ferozepur village in Fatehgarh Sahib. The police have also recovered a Hero Deluxe motorcycle (PB 52 B 2187) and a sickle used in crime from the possession of accused persons. As per information, 50-year-old Balvir Kaur of Faror village in Fatehgarh Sahib was found lying gravely injured in the fields near canal at Ferozepur village on Wednesday morning.

The victim is out of danger and has been undergoing treatment at PGI Chandigarh. IGP Gurpreet Singh Bhullar, while addressing the media, said that both the accused persons were circus performers and used to perform cycle shows in different villages. Accused persons Keepa and Jassi met Balvir Kaur through her son Dharampreet, who became friends with them during their show at Faror village about eight months back, he said. Divulging more details about preliminary investigations, Fatehgarh Sahib SSP Dr Ravjot Kaur Grewal said both the accused persons wanted to rich and came in contact with a ‘tantrik’ (sorcerer), who asked them to perform a ‘human sacrifice’ on a woman.