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मंज़िल

A view of the Columbia Glacier on Prince William Sound, Alaska

Alaska

Utah

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Pile of newspapers. Folded and stacked pages with news, headlines, articles and photos on the wooden table. Daily papers in the morning. Selective focus, blurred background       

1. In the 543-seat Lok Sabha, the BJP is projected to win around 240 seats, a significant drop from their previous 303 seats. The NDA alliance is expected to secure 290-295 seats, while the opposition INDIA bloc is anticipated to gain around 235 seats.My Take:&nbsp;The Indian election results have delivered a surprising twist, defying all exit poll predictions. The BJP is set to lose around 60 seats from their 2019 tally, marking a significant setback for Modi and his popularity. Since 2014, India has enjoyed single-party majorities for two consecutive elections, but the 2024 results have shifted the political landscape back to coalition governance. Although the NDA comfortably surpasses the 272-seat halfway mark, it will be challenging for Modi and the BJP to implement all their desired reforms. The opposition is poised to play a crucial role in the new political dynamic.Life has come full circle for TDP and N. Chandrababu Naidu (CBN), allies of the BJP and part of the NDA. The TDP-JS-BJP alliance has decimated Jagan's YSRCP in both assembly and parliamentary elections. With 16 MPs, CBN will play a key role in government formation at the center and could become a kingmaker.- Three states that surprised the BJP are UP, West Bengal, and Rajasthan. -Meanwhile, the BJP has opened its account in Kerala and is winning in Odisha and Telangana, slowly increasing its presence in the South of Vindhyas. - SP in UP, TMC in West Bengal, and the SS-NCP alliance in Maharashtra have either improved or held their ground firmly against the BJP. - Additionally, Congress has increased its tally to around 100 seats, winning 8 seats in UP.In my May 31st column, I predicted the BJP would lose around 20-25 seats, but they are losing around 60 seats. Is this the downfall of Modi's BJP? Will there be a reorganization within the BJP? Was there a rift between Yogi and the BJP high command? It will be interesting to see if the INDI Alliance can poach some NDA parties and claim the majority.2. Closing Bell: Sensex plunges 4,390 pts, Nifty below 22,000 as landslide eludes NDAMy Take: The stock markets reacted sharply as the Sensex plunged by 4,390 points and the Nifty fell below the 22,000 mark, following election results that showed the NDA missing a landslide victory. The unexpected loss of seats by the BJP, which marked a significant setback for Prime Minister Modi's government, has led to market uncertainty. Investors are wary of the return to coalition politics, which could complicate policy implementation and economic reforms. This steep decline in the markets underscores the concerns over political stability and future economic direction under the new government setup.My biggest concern is whether exit polls should be conducted when the counting is three days after the last phase of elections. The exit polls all projected a landslide victory for the BJP and NDA, causing the markets to surge by 3,000 points the following day in anticipation of a comfortable majority for the BJP. This sudden spike now seems like a pump-and-dump activity, leading to significant financial losses for investors within a span of 24 hours. Such volatility raises questions about the reliability and impact of exit polls on market stability. It underscores the need for regulatory scrutiny to protect investors from abrupt market manipulations driven by speculative forecasts.

Samāchāra Sanchika - 4th Jun'24

1. Indian Chess Prodigy R Praggnanandhaa Defeats World No.2 Fabiano Caruana in Round 5 of Norway Chess, Following His Stunning Victory Over World No.1 Magnus Carlsen in Round 3My Take: The rise of Indian chess has been nothing short of meteoric, marked by a new generation of prodigious talent and a growing global presence. Spearheaded by legends like Viswanathan Anand, Indian chess has seen a surge of young grandmasters making their mark on the international stage. With players like R Praggnanandhaa achieving stunning victories over world champions, India's chess scene is vibrant, dynamic, and poised for even greater heights.The remarkable rise of Indian chess can be attributed to the country's evolving socioeconomic landscape. In the past, financial constraints and the need to secure basic necessities meant that previous generations prioritized education, which guaranteed stable jobs and income, over sports. However, as India's economy has progressed, more parents are now able to encourage and support their children's interests in sports and extracurricular activities. This shift has opened up new career opportunities in fields like chess, cricket, and acting. With increasing economic stability, many young Indians can now pursue their passions as viable primary careers, leading to the country's impressive achievements on the global chess stage.2. Exit Polls Predict Landslide Victory for Modi-Led NDA Government in 2024 General ElectionMy Take: In yesterday's column, I predicted that the BJP might lose 20-25 seats but would still secure a comfortable majority to form the government. Today, pollsters released their exit poll predictions, with most forecasting a landslide victory for the Modi-led NDA government. The majority of pollsters are predicting the NDA will win over 350 Lok Sabha seats. If these predictions hold true, it will mark the BJP and NDA's biggest win in their electoral history.Assuming the exit poll results are accurate, three key points merit consideration. - First, in direct contests between the BJP and Congress, the BJP boasts a win rate exceeding 80%. - Second, the BJP, traditionally seen as a North-West party dominant in the Hindi heartland, is making significant inroads into the South-East belt. For the first time, they are gaining seats in Kerala and Tamil Nadu, while sweeping Telangana, Andhra Pradesh, Odisha, and West Bengal. - Lastly, it will be interesting to analyze the voting patterns of women in this election.

Samāchāra Sanchika - 1st Jun'24

1. Indian Space Startup <a data-mce-href="https://www.agnikul.in/" href="https://www.agnikul.in/" title="AgniKul Cosmos" target="_blank" rel="noopener">AgniKul Cosmos</a> Achieves Milestone with Successful Flight Mission of Agnibaan SOrTeD from Sriharikota Private LaunchpadMy Take: Slowly and then suddenly - Indian space startups are killing it! To see our own teams launching an actual 3D printed rocket and to have <a data-mce-href="https://www.isro.gov.in/" href="https://www.isro.gov.in/" title="ISRO" target="_blank" rel="noopener">ISRO</a> support these ventures whole-heartedly is truly remarkable. The vehicle was completely designed in-house and was powered by the world’s first single piece 3d printed engine and also happens to be India’s first flight with a semi cryo engine.&nbsp;2. Campaigning for Final phase of India's General Election Concludes, Voters to Cast Ballots on June 1st Across 57 Constituencies in 8 States and Union Territories; Counting of All 543 Lok Sabha Seats Set for June 4thMy Take: As the 2024 General Election enters its final phase, anticipation runs high. Initially perceived as a foregone conclusion favoring the incumbent NDA government, the landscape started to change slowly but surely after the first two phases. The BJP, sensing growing anti-incumbency sentiments, distress among farmers, and the unemployed, found their strategies failed to resonate with voters at the level they hoped for. This injected a new level of uncertainty into the electoral process, challenging preconceived notions and setting the stage for a fiercely contested conclusion to one of India's most pivotal elections.I predict BJP to lose around 20-25 seats from their previous tally of 303 but I expect them to have a comfortable majority to form the Govt with the support of their allies.3. Cricket T20 World Cup 2024 Kicks Off on June 1st, Featuring 20 Teams Competing Across USA and the Caribbean IslandsMy Take: Excitement mounts as the Cricket T20 World Cup commences on June 1st. The tournament opens with a clash between USA and Canada in Dallas, TX, setting the stage for an electrifying series of matches. This edition boasts 20 formidable teams, divided into four groups, each vying for cricketing glory. Among them, India finds itself in Group A, alongside traditional rivals Pakistan, along with Ireland, Canada, and hosts USA. In my view the favorites are Australia, West Indies, South Africa and ofcourse India.4. RBI has moved a little over 100 tonnes of gold from the UK to its vaults in the country, marking the first time at least since early 1991, when precious metal at this scale has been added to the stock held locally.My Take:&nbsp;According to a media report, the Reserve Bank of India will also be bringing back more gold reserves from the foreign country's banks to India in the coming months. The motive behind this move is mainly storage and logistical reasons. But in my view I see it as an indication of RBI’s increasing confidence in the Indian economy. Also at times of geopolitical tensions there is uncertainty over the safety of one's international assets. In the current situation the freezing of the Russian assets by the west and the general outlook on the UK economy has likely added to the concerns of the Indian government of the safety of gold reserves overseas.

Antarjaala Sanchaari

Our Journey Around the World

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Samāchāra Sanchika - 4th Jun'24

Samāchāra Sanchika - 1st Jun'24

Samāchāra Sanchika - 31st May'24