oppn parties The War In Ukraine Will Put The Brakes On Economic Growth, Lead To Inflation

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  • Allahabad HC said that the UP Police is acting as law unto themselves as they detained a person unlawfully even before his arrest
  • Kolkata witnesses traffic snarls on the first day of the Durga Puja festival as revellers start pnadal-hopping
  • Neha Bora was subsequently released and Dipke is to appear before a magistrate today at noon
  • Delhi Police detained Cockroach Janta Party founder Abhijeet Dipke, Neha Bora of AISA, student leaders and supporters ahead of a rally in Connaught Place demanding Chief Election Commissioner Gyanesh Kumar's resignation. The protest followed the detention and jailing of two CJP leaders earlier in the week over demonstrations at Jantar Mantar
  • The Reserve Bank of India is considering further monetary tightening to counter capital outflows and increase the cost of betting against the rupee, according to bankers and analysts cited by Reuters. The measures follow recent rate increases and steps to drain liquidity as pressure on the currency and inflation concerns persist
  • India directed oil marketing companies to stop diverting sugar-based feedstocks for ethanol production in the 2026–27 supply year, according to a new tender issued on Friday. The companies have invited bids for 11 billion litres of ethanol made from alternatives including corn and broken rice, amid concerns about domestic sugar supplies and prices
  • Finance Minister Nirmala Sitharaman said India's trade imbalance with China was growing sharply and attributed the problem partly to restrictions on Indian goods and services entering the Chinese market. China subsequently said it was ready to work with India to address mutual economic and trade concerns; India's trade deficit with China reached $69 billion in the first half of FY2026–27, up 27% year-on-year
  • Indian equity benchmarks extended their recovery on Friday, with the Sensex rising 413.66 points to close at 74,729.27 and the Nifty 50 gaining 148.80 points to settle at 23,146.15. Information technology shares, including Tech Mahindra, Infosys and TCS, helped lift the indices
  • India defeated Zimbabwe by four wickets in the opening women's T20 International in Raipur, taking a 1–0 lead in the three-match series. Deepti Sharma and Niki Prasad combined in an 82-run stand after India's top order collapsed, helping the hosts chase down Zimbabwe's total of 114 for five
  • Indian wrestler Komal won bronze in the women's 59 kg category at the Under-23 World Wrestling Championships in Las Vegas, defeating Kazakhstan's Viktoriia Khusainova 7–2. Fellow Indian Amruta Pujari advanced to the women's 72 kg final after recording two pinfall victories
  • Indian shuttler Jagsher Singh Khangurra secured a bronze medal at the BWF World Junior Badminton Championships in Cairo
  • The Supreme Court of India upheld the Bombay High Court's decision quashing the 2020 write-off of ₹8,415 crore in additional tier-1 bonds issued by Yes Bank (Yes Bank). The court ruled that the bank's administrator lacked the authority to extinguish the bonds under the final reconstruction scheme, strengthening bondholders' claims
  • The Supreme Court issued notices to the Election Commission of India, Delhi Police and opposition leaders, including Rahul Gandhi and Akhilesh Yadav, in separate petitions concerning electoral-roll revision and protests held in Delhi on October 10–12. The court also directed the preservation of CCTV footage linked to allegations of police excesses
  • The Supreme Court ruled that a person converting from Hinduism to Islam cannot automatically claim backward-class reservation benefits in the new religious community solely on the basis of their previous caste status. The judgment upheld the Madras High Court's decision striking down a 2024 Tamil Nadu government order that permitted such certification for specified communities
  • The Election Commission of India ordered a Special Summary Revision of electoral rolls in 14 states and three Union Territories, using January 1, 2027, as the qualifying date for voter eligibility. The draft rolls are scheduled for publication on November 12, claims and objections will be accepted until December 11, and the final rolls are due on January 4, 2027
Delhi HC refuses to ban CJP's Tiranga rally at Central Park in Connaught Place today /////// Police says will control and regulate it /////// NDMC closes the park for the public on Friday and Saturday
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The War In Ukraine Will Put The Brakes On Economic Growth, Lead To Inflation

By Linus Garg
First publised on 2022-02-24 15:03:27

About the Author

Sunil Garodia Linus tackles things head-on. He takes sides in his analysis and it fits excellently with our editorial policy. No 'maybe's' and 'allegedly' for him, only things in black and white.

After days of speculation whether he will actually send troops into Ukraine, Russian President Vladimir Putin took the plunge and Russia today invaded the neighbouring country with full force by land, air and sea. As per latest reports, Russia claims to have destroyed over 70 military targets including 11 air bases. Indian nationals in the nation were caught in the crossfire and were left looking for bomb shelters. Some even went to the Indian embassy in Kyiv.

The effects of the invasion were felt worldwide. Crude rose to $105 per barrel and is expected to rise even further if the war goes on for more than a few days. In India, the stock markets crashed big time. While the Sensex went down by 2702 points in its biggest fall since March 2020 and the fourth biggest in history, the broader Nifty fell by 815 points to end at 16247. The carnage resulted in the erosion of Rs 13.44 lakh crore of investor wealth in a single session.

Prime Minister Modi held a meeting with Home Minister Amit Shah and Defence Minister Rajnath Singh over the Ukraine situation. Officially, India's position was that it was closely watching the developments and this drew a sharp response from Ukraine's envoy to India who said Ukraine was "deeply dissatisfied" by India's stand. Calling PM Modi a "strong global leader", envoy Igor Polikha was of the opinion that a stronger stand by India would have made Putin "think".

The Indian economy and the common citizen will have to bear the brunt of the effects of the war as crude prices will rise further leading to inflation. With food inflation already very high, further price increase will put ordinary citizens to a lot of hardships. Also, pump prices were set to rise after the end of elections in UP. Now the increase will be huge unless the government reduces taxes to cushion the shock. The economy was constrained due to low demand. It will now suffer more as, on the one hand demand will not rise as expected and on the other, it will be burdened with rising cost of inputs. 

 

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