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RBI Governor Shaktikanta Das, making his monetary policy statement, said inflation — which was the elephant in the room in April 2022 at 7.8 per cent — is now under control (well within comfort zone).
The elephant has now gone for a walk and appears to be returning to the forest, Das had quipped, adding that RBI would like the elephant to return to the forest and remain there on a durable basis!
This remark has sparked lot of chatter in political and bureaucratic circles in the capital with some even wondering whether the Guv has ignored the other elephants in the economy — such as lagging private investments, surge in government debt and other structural rigidities in the economy!
True to its dharma, RBI’s Arjuna Eye is only fixated on price stability for now, it seems, noted an economy watcher.
Heard in Dalal Street
History shows that benchmark indices have rallied in every election year since the 2004 general election.
Now with Congress Party also throwing its hat in the ‘guarantees’ game by talking of 25 guarantees to counter PM Modi’s ‘Modi Ki Guarantee’ assurance, a retail investor cheekily wondered if someone can give a “guarantee” that benchmark indices will see a pre-election or post-election rally this year too?
Rice via contract farming
With India and Singapore heading to a situation where the latter may face a shortage of rice, the island nation could, perhaps, urge India to help it get the cereal via contract farming.
A little bird says India would readily agree if Singapore seeks to source rice via contract farming. Singapore is a “strategic” partner of India and New Delhi would readily oblige in case the Tharman Shanmugaratnam government approached it.
Relations between both the nations have strengthened a lot after Shanmugaratnam took over the reins last year.
Impatient Patra
BJP spokesperson Sambit Patra now has to contend with his arch rival from the Congress, Gaurav Vallabh whose search for greener pastures has landed him in the saffron party as Patra’s peer. Vallabha had famously demolished Patra in a TV debate by demanding to know whether he knew how many zeroes there are in 5 trillion. Patra was stumped, it seems.
But Patra still maintains good humour and is an eager participant in BJP press conferences except sometimes, his enthusiasm gets the better of him. After the Congress accused the BJP of using the Income Tax Department to freeze their accounts during elections, BJP fielded Ravi Shankar Prasad and Patra for rebutting the charges.
While Prasad was still explaining the finer points of the IT Act that the Congress has apparently violated, Patra couldn’t hold himself back and butted in. The senior leader didn’t take kindly to being interrupted. “Hold it,” he said. And then delivered the coup de grace: “Don’t be impatient like Rahul Gandhi.” Patra hasn’t been seen around much since then.
Veg vs non-veg war
During elections mudslinging is common. However, a leader of the DMK has taken it to the next level by warning people that they will not get non-veg food if the BJP is elected again. In a video that is going viral, a leader of the DMK in an election rally says that if they elect the BJP again, there won’t be chicken, mutton and beef to eat but only sambar rice, tamarind rice and curd rice!
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