India Insight

A victory of defiance, not a dead pitch

(The views expressed here are solely those of the author, and not necessarily those of Reuters)

Cricket is a contest of attrition. The game is a lot more about skills and strategies than just the “condition of the pitch.” It’s certainly more cerebral than what a few contemporary commentators would have us believe.

If Bhuvaneshwar Kumar and Shami put on a magnificent 111-run partnership for the last wicket, credit should be given to their extraordinary defiance, and the lack of it to England bowlers’ inability to out-think the two tailenders and partly to Cook’s captaincy.

It was disappointing to hear a few commentators blaming the “flat pitch” of the Trent Bridge instead. One can understand if fans resort to such logic, but when former international cricketers do the same, it smacks of a “going-through-the-motion” kind of effort behind the microphone.

The pitch was blamed for the second time when Joe Root and Jimmy Anderson put on a majestic 198-run partnership against the Indian bowling attack, which had clearly stopped thinking by then, along with the captain, M.S. Dhoni. Surely, a world record is not created because of a lifeless pitch; it requires blood, sweat and exemplary character. Root and Anderson showcased all of that. Incidentally, the same Indian bowling attack reduced England to a demoralizing 202 for 7. How can a pitch behave so diametrically opposite in the same session? Clearly, commentators were barking up the wrong tree.

Budget 2014: Give Indians tax breaks, more ways to invest – experts

Arun Jaitley’s first budget as India’s finance minister should allow individual taxpayers to invest more money in vehicles such as government savings bonds, mutual funds and employee savings plans, and provide them with tax credits that would bolster their savings and boost economic growth, tax experts say.

Income tax rules allow for an annual exemption of 100,000 rupees ($1,700) in investments and expenditures such as life insurance and home loan repayments, a rule that has remained unchanged for about a decade. Such investments, along with public provident funds, employee provident funds, five-year term deposits in banks and equity-linked mutual fund savings plans are good for individuals and also help keep the economy on a strong footing, said Suresh Surana, founder, RSM Astute Consulting.

“Savings need to be channelized into economically productive avenues which are what Section 80C essentially provides for, investment either in government securities or bank deposits or life insurance,” said Surana.

VIDEO: India’s auto sector and budget expectations

India’s automobile sector may have been dented by negative sales for two straight years, but the Society of Indian Automobile Manufacturers (SIAM) is hoping to see an uptick in sales this fiscal year.

Spiralling inflation and expensive bank loans, which most Indians depend on to buy vehicles, weighed on customer sentiment as the country’s economic growth languished at 4.7 percent in the December-quarter — about half the rate of India’s boom years.

However, a stable and business-friendly BJP government is expected to revive economic growth and kick-start the investment cycle, factors that may help the market for vehicles grow.

When the Right To Information becomes a fight for information in India

The Congress party-led government that drafted the Right To Information (RTI) Act in 2005 touted the law as one of its success stories for the average Indian in the last election. Whether it played any role in the election’s outcome is difficult to say, but activists who specialize in RTI requests throughout India say that government workers have found many ways to frustrate their attempts to get responses to their questions.

Filing an RTI is easier than it used to be, but extracting information is getting harder each year, said Neeraj Goenka, an RTI activist in Sitamarhi, a town in the state of Bihar.

“Bihar government brought a number of amendments to the RTI act to discourage people from asking questions. Bureaucracy is totally dominant here also like in any other state,” he said. “From top to bottom, everyone knows how the information can either be denied or delayed, and the application keeps moving from one authority to the other for months.”

Short skirts, bad stars, chow mein: Why men in India rape women

Demonstrators from All India Democratic Women's Association (AIDWA) hold placards and shout slogans during a protest against the recent killings of two teenage girls, in New Delhi May 31, 2014. REUTERS/Adnan Abidi

The 2012 Delhi bus rape case and an ever-longer list of rapes and murders in India have prompted politicians and public figures in India to cite plenty of implausible reasons why rape happens and why men brutalise women or portray women in ways that suggest they had it coming. Many people, when speaking out, tend to minimise the crime or rationalise it in ways that sound ludicrous to many. We created this list of such comments more than a year ago, but it seems like it’s time to add some new entries.

(Updated July 15, 2014) Binay Bihari, minister for art, culture and youth affairs in the state of Bihar: The minister said that mobile phones and non-vegetarian food are reasons for a surge in rape cases, NDTV reports. “Many students misuse mobile phones by watching blue films and hearing obscene songs which pollute their mind,” he said. On food, he reportedly said that non-vegetarian food “contributed to hot temper… and cited sermons of sants that pure vegetarian food kept the body and mind pure and healthy.” (NDTV)

(Updated July 2, 2014) Tapas Pal, lawmaker from Trinamool Congress: The popular Bengali actor was caught on camera threatening workers of the Communist Party of India (Marxist) and their families. “If any opponent touches any Trinamool girl, any father, any child, I will destroy his entire family. I will unleash my boys, they will rape them, rape them,” Pal said in the video. Pal later apologised for what he termed a “gross error of judgement”. (Indian Express)

Brokerages bullish on Sensex, revise targets after Modi win

By Sankalp Phartiyal and Aditya Kalra

Indian stock markets rallied to record highs in May with the benchmark BSE Sensex breaching the 25,000 mark for the first time after Narendra Modi won a clear mandate to govern Asia’s third-largest economy.

Markets surged as Modi’s Bharatiya Janata Party (BJP) and its allies stormed to power on promises to revive India’s struggling economy, which is growing below 5 percent, and create more jobs for its 1.25 billion people.

The Sensex touched a record high of 25,375.63 on May 16, the day election results were announced, while the broader Nifty hit a life high of 7,563.50 the same day. The Sensex is up 18.1 percent so far this year.

India equity funds ride Modi rally in May, post best month in five years

India’s diversified equity funds outperformed the broader markets in May and recorded their best monthly performance in five years, as stocks rallied on hopes of an economic revival after the Narendra Modi-led Bharatiya Janata Party (BJP) won a decisive election mandate.

Equity funds clocked an average return of 11.57 percent in the month, the highest since May 2009 when funds rose 30.2 percent, data from fund tracker Lipper, a Thomson Reuters company, showed. In comparison, the BSE Sensex rose 8 percent.

Though blue-chip stocks gained, high exposure to better performers in the mid- and small-cap segment, and sectors such as financials and infrastructure, helped schemes outperform the broader markets, experts said.

Narendra Modi’s new team of ministers

The Indian government on Tuesday announced its list of cabinet ministers along with their portfolios, a day after Narendra Modi was sworn in as the new prime minister.

Modi’s Bharatiya Janata Party (BJP) and its allies won a landslide victory in a mammoth general election, grabbing 336 of the 543 seats and ending the Congress-led government’s decade-long rule.

Besides Modi, 45 other members were inducted into the new council of ministers, a third smaller than the previous government. Modi himself would look after atomic energy, space, personnel and any ministry not allocated to a cabinet colleague.

Markets this week: Sesa Sterlite, NTPC top Sensex gainers

The benchmark BSE Sensex rose 2.4 percent this week as domestic-oriented stocks surged on hopes the incoming BJP government would keep up its promises to kick start an economy whose growth has dipped to its slowest in a decade.

Shares in companies such as Coal India, that are expected to benefit from an economic revival, and utilities performed well.

Sentiment was also boosted after Reuters reported that the finance ministry was working on a roadmap for cutting welfare spending and reining in deficit.

They say every vote counts, but mine wasn’t

(Any views expressed in this article are those of the author and not necessarily those of Thomson Reuters Corp.)

Fifty-four percent of Bangalore‘s eligible voters showed up at the polls on April 17, a disappointing number considering the high turnout in some states. I was not among them, but it was not for lack of trying. Despite doing everything correctly, my application never went through.

I was 18 the last time India held national elections. Since then, we moved around a lot. I was looking forward to voting this year for the first time. A record number of people are registered to vote in this election, and the country is at a crossroads as it considers whether to kick out the Gandhi-Nehru dynasty and its Congress party in favour of the Bharatiya Janata Party and prime ministerial hopeful Narendra Modi, or perhaps a third front of other parties.

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