Local government elections

Former Karnataka Chief Minister Siddaramaiah, on December 9, resigned as the leader of Congress Legislative Party (CLP) and as the Leader of Opposition  following his party's poor performance in bypolls to 15 Assembly constituencies in the state."We accept the mandate of the people. Our expectation was that the voters would teach a lesson to those who went against the tenets of democracy, but that expectation has gone now. We accept the people's mandate. I have resigned as the Congress Legislative Party leader and have submitted my letter to (Interim Congress president) Sonia Gandhi," Siddaramiah said during a press briefing.I respect the mandate given by the electorate in the #KarnatakaBypolls. I expected people to teach @BJP4Karnataka leaders a great lesson for orchestrating #OpertionKamala.I am taking the moral responsibility & resigning as Leader of CLP & Leader of Opposition. pic.twitter.com/AaG9Xl3SdP— Siddaramaiah (@siddaramaiah) December 9, 2019Close The … [Read more...] about Karnataka: Siddaramaiah resigns as Congress Legislative Party leader after bypoll performance

BJP's Yellapur candidate, Arabail Shivaram Hebbar, became the first candidate to register a victory in the bypolls to 15 assembly constituencies in Karnataka, for which the counting is underway on December 9.Hebbar defeated Congress' Bhimanna Naik by a margin of over 31,000 votes, poll officials said, adding that official announcement was awaited.A two-time Congress MLA from Yellapur, Hebbar was among 13 disqualified MLA whom the BJP had given ticket to contest the bypoll as party candidate.Close The bypolls were held to fill vacancies caused by the disqualification of 17 rebel Congress and JD(S) MLAs, whose revolt led to the collapse of the H D Kumaraswamy-led coalition government in July and paved the way for BJP to come to power. related news No reason that employment has come down, says Santosh Gangwar No proposal for education loans waiver, says govt Mandate in Karnataka stolen through back door; people taught Congress a lesson: PM Modi in Jharkhand The BJP needs to win … [Read more...] about BJP bags the first seat in Assembly bypolls in Karnataka

India's gross domestic product (GDP) could be in the range of 7-7.5 percent by FY20, while inflation may be at 5 percent, according to Ajit Ranade, President and Chief Economist, Aditya Birla Group.Ranade expects crude oil prices to inch up to $90-95 a barrel in the near term, widening the current account deficit.“Higher oil prices are not good for India as we have to import oil at higher prices,” Ranade said at a two-day Morning Investment Conference 2018 held in Mumbai on October 23.Close Global trade war, rising oil prices, geopolitical tension and emerging market contagion are some of the risks to the global macros, he said. Other major macro risks include tight financial conditions, a shortfall in GST collections and widening current account deficit.Himadri BuchAssistant Editor|Moneycontrol.com AMFI monthly report: Outflows from credit risk funds rise, inflows into equity funds plummet 85%UTI AMC-PSUs-SEBI Saga: Is it a special case treatment of SEBI relenting … [Read more...] about Economist Ajit Ranade pegs FY20 GDP at 7-7.5%, inflation at 5%

BNP Paribas Mutual Fund’s equity portfolio is largely inclined towards consumption and domestic growth story, said Deputy Chief Executive Officer and Head of Investments, Anand Shah.In a freewheeling chat with Moneycontrol, Shah said that the fund house is overweight on consumer-facing companies such as like FMCG, retail, select auto, media and entertainment as he feels that these companies are seeing an uptick in demand in rural due to near normal monsoons and government spending.BNP Paribas Mutual Fund is also positive on financials particularly on private banks, life insurance sector and select retail focused stocks.Close Among NBFCs, the fund house prefers industry leaders with the right asset-liability match and the ones that have the ability to raise funds competitively.Himadri BuchAssistant Editor|Moneycontrol.com AMFI monthly report: Outflows from credit risk funds rise, inflows into equity funds plummet 85%UTI AMC-PSUs-SEBI Saga: Is it a special case treatment of SEBI … [Read more...] about Anand Shah says macros not as bad as in 2013, portfolio skewed toward consumption, auto

Emerging market doyen and veteran fund manager Mark Mobius expects a further correction of 5-10 in select sectors in the current financial year and believes that rest of the negatives have already been factored in.In a candid chat with Moneycontrol, the founder of Mobius Capital Partners feels that the Indian government should be more pro-active on the process of approvals as he is keen to make investments in Indian markets.  He said the Narendra Modi government must streamline processes so that money can come in more easily for investments.Even at the ripe old age of 82, Mobius revealed he is on the road 205 days a year, visiting companies in almost every corner of the globe.Close Mobius, who quit as head of Franklin Templeton's emerging market funds in January, has started Mobius Capital Partners - a fund management firm focussed on environmental, social and corporate governance in emerging and frontier markets. His company aims to pick up direct equity stakes in companies … [Read more...] about Mark Mobius expects 5-10% correction in select sectors; bets on NBFCs