Daily Briefing: RBI at odds with Centre; unease in Parliament; Siraj turns his form around

With that, let’s move on to today’s edition:

• RSS’s new 3-children norm
• Unease in Parliament, yet again
• India’s open-air prison experiment at risk

🚨 Big Story

Last week, India’s real Gross Domestic Product (GDP) growth raised alarms after it slumped to a seven-quarter low of 5.4 per cent in July-September 2024. But even before the sobering data came out, the government and RBI were at odds about the bank’s upward revision of growth estimates for 2024-25, Indian Express has learnt.

Quick look: The GDP growth slumped to a near two-year low pulled down by “sluggish growth” in manufacturing and a deceleration in mining and quarrying. The 5.4 per cent growth rate in Q2 is lower than 6.7 per cent in the previous quarter and 8.1 per cent in July-September 2023.

The cracks: In light of the data, the government has said there were apprehensions about RBI’s macro-prudential measures and its decision to keep policy rates static because of food and gold/silver inflation — an assessment that the RBI would not agree with.

Next up: All eyes are now on RBI’s monetary review meeting December 4-6, with Governor Shaktikanta Das’s term expected to end December 10. The Monetary Policy Committee (MPC)’s monetary policy stance is likely to be weighed down by growing concerns over slowing economic growth and elevated inflationary pressures.

Analysts now say that the MPC is likely to keep the repo rate – the key policy rate – unchanged at 6.5 per cent. But there is a growing clamour for a cut in repo rate. We’ll just have to wait till December 6 to know what’s in store.

⚡ Only in Express

For this week’s Idea Exchange, senior Maharashtra BJP leader Sudhir Mungantiwar spills the beans on what worked for the party in the Assembly polls, power-sharing with allies and the future of Sharad Pawar and Uddhav Thackeray.

📰 From the Front Page

Sounding alarms over India’s falling fertility rate, RSS chief Mohan Bhagwat has said couples should have at least three children to ensure that India’s population does not decline. Addressing an event in Nagpur on Sunday, Bhagwat said: “As per the population policy of 1998 or 2002, I don’t exactly remember, it was said that the population growth rate should not go below 2.1. Now a human is not born in the 0.1 fraction … So, it should be a minimum of three.”

Standoff, yet again: As the Congress MPs continue to stand firm on their demand for a discussion on the Adani bribery allegations, with the government refusing to accept it, an unease among a section of the party’s Lok Sabha MPs as well as some other Opposition parties have emerged over the stalling of the two Houses. While the Adani issue remains a pet theme for LoP Rahul Gandhi, a section of the party’s MPs in Lok Sabha believes the House should resume normal business, which it argues will give them an opportunity to hold the NDA government accountable — using the Question Hour and discussions.

“… Go find another ‘sucker!’”: United States President-elect Donald Trump has threatened the BRICS grouping, consisting of India, Russia and China among its key members, with “100 per cent tariffs” if they moved to replace the US dollar by creating a new currency or backing any other option as the world’s reserve. Trump’s remarks come amid divergent views on the issue at the BRICS summit in October, where Russian President Vladimir Putin had warned that the “dollar is being used as a weapon”.

📌 Must Read

Open-air: Sanganer’s Shri Sampurnanand Khula Bandi Shivir open-air prison, which might look like your average government colony, has no high-security walls, prison cells or jail uniforms, and the inmates are free to move around as they please. While the Supreme Court hears a petition challenging an order of the Jaipur Development Authority (JDA) allocating two plots of land from the jail for the construction of a satellite hospital. However, activists have claimed that the government’s plan will affect a one-of-its-kind experiment of an open jail in the country.

From all faiths?: A petition in court has sought a survey of the shrine of Khwaja Moinuddin Chishti in Ajmer, based on claims that it was constructed after demolishing ‘Hindu and Jain’ temples. What is the history of the centuries-old dargah, and of the revered Sufi saint who rests there? We explain.

“Far from furthering it, these judges may well be striking the death knell of secularism. Given this, one wonders if it is possible for a court to be in contempt of itself, especially when it is quick to haul up others for contempt of its orders.”

In our Opinion pages today, Dushyant Dave delves into how a series of suits and appeals are being filed and entertained with impunity by courts across India, including the Supreme Court, concerning various mosques across the country — from Varanasi to Mathura to Sambhal and even the dargah in Ajmer.

⏳ And Finally…

‘Rediscovering joy’: Indian fast bowler Mohammad Siraj found himself in a vicious loop when his novel attempts at getting wickets, not only continued to fail, but also messed up with his original method. It was former bowling coach of the team Bharat Arun’s advice that gave him the confidence to forget about wickets and enjoy the process. Arun, at the end of the home Test series against New Zealand, recalled his conversation with Siraj sharing what got the bowler back to the game.

🎧 What do AQI levels actually tell us? Why doesn’t the WHO recommend masks for air pollution? Do air purifiers really help? In today’s episode of our 3 Things podcast, Dr. G.C. Khilani, a member of the WHO’s Technical Advisory Group on Air Pollution and Health, shares everything you need to know about air pollution. Tune in!

That’s all for today.

Until next time,
Ayesha Jain and Ariba

Business As Usual by E P Unny