NEW DELHI: India is expected to have a new government in place by the middle of June after a six-week election that began on April 19. Votes will be counted on June 4 and analysts expect Prime Minister Narendra Modi to win a third straight term.
Here are some key issues the winning party, or coalition, will need to tackle in office.
ECONOMIC DISPARITY
India’s economy is expected to have grown by about 8 percent in the last fiscal year, one of the fastest rates among major economies, but voters have pointed to disparities on the ground, with growth more visible in cities than in the vast hinterland.
The economy has jumped five places to be the fifth-largest in the world in the past decade under Modi and he has said he will lift it to the third position if elected. But the country’s per-capita income still remains the lowest among G20 nations.
Nevertheless, S&P Global Ratings in late May raised India’s sovereign rating outlook to ‘positive’ from ‘stable’ while retaining the rating at ‘BBB-’, saying the country’s robust economic expansion was having a constructive impact on its credit metrics.
INFLATION ABOVE CENBANK TARGET
Annual retail inflation (INCPIY=ECI) in April stood at 4.83 percent, slightly lower than March, but still above the central bank’s 4 percent target.
Food inflation, which accounts for nearly half of the overall consumer price basket, was an annual 8.70 percent in April, compared with a 8.52 percent rise in the previous month. Food inflation has been at more than 8 percent year-on-year since November 2023.
Countering the steep increase in food prices has been one of the key campaign planks of the main opposition Congress party, which has promised several cash handouts to alleviate the situation.
Modi has meanwhile banned exports of wheat, rice and onions to contain domestic inflation.
UNEMPLOYMENT
Unemployment in India has also been one of the main issues in the campaign with Congress accusing the Modi government of doing little to provide jobs for the country’s youth.
The unemployment rate in India rose to 8.1 percent in April from 7.4 percent in March, according to the private think-tank Center for Monitoring Indian Economy.
Government estimates for the latest January-March quarter show that the urban unemployment rate in the 15-29 age group ticked higher to 17 percent from 16.5 percent in the prior quarter.
Overall, urban unemployment rate in the January-March quarter stood at 6.7 percent, compared to 6.5 percent in the previous quarter, according to government data.
The Indian government does not release quarterly unemployment figures for rural India.
FOREIGN RELATIONS
India’s rising world stature and assertive foreign policy have been touted as major recent achievements by Modi’s administration.
A key diplomatic strain, however, remains with China which was spurred by a 2020 border clash that left 20 Indian and four Chinese soldiers dead. Modi said last month the countries should address the “prolonged situation” on their border.
Modi’s government has been trying to attract foreign companies to diversify supply chains beyond China.
Relations with Canada have also been strained in recent months after Ottawa and Washington accused an Indian official of directing the plot in the attempted murder of Gurpatwant Singh Pannun, a Sikh separatist and dual citizen of the United States and Canada.
In May, Canadian police arrested and charged three Indian men with the murder of Sikh separatist leader Hardeep Singh Nijjar last year and said they were probing whether the men had ties to the Indian government.
TAXES
An industry lobby group earlier this year called for a tax exemption limit for individuals to be increased and linked with inflation to help boost consumption.
The Confederation of Indian Industry also asked that the government review its capital gains tax structure by bringing consistency in tax rates for different asset classes such as debt, equity and immovable assets.
FARMERS
Stagnant farm income is a major sign of widening inequality between urban and rural India that has led to widespread protests. The BJP had promised to double farm income by 2022 in its manifesto for the last election, but has failed to do so.
Despite that, Modi has set a new goal to lift rural per-capita income by 50 percent by 2030 but farmers in the hinterland remain skeptical of such plans, Reuters reported earlier.
LAND, LABOUR REFORMS
In February, a BJP spokesperson told Reuters that Modi could make labor reforms a priority if he wins the general election.
New labor codes, which would make it easier for firms to hire and fire workers and impose operating restrictions on unions, were approved by parliament in 2020, but they have yet to be implemented following resistance from workers and states.
The new government may also continue to delay taking on land reforms as any such moves would be contentious and lead to losses in state elections later this year.
In his first term as prime minister, Modi tried to push through legislation that would have made it easier to buy land for industrial corridors, rural housing and electrification, and for defense purposes. However, the plan was put on the backburner amid stiff resistance from the opposition.
What lies ahead for the new Indian government
https://arab.news/6q6hf
What lies ahead for the new Indian government
- Economic disparity, inflation, taxes and unemployment likely to be key challenges
- Foreign relations with China, Pakistan, Canada will continue to plague any new administration
France’s ex-president Sarkozy on trial over alleged Qaddafi pact
- The career of Nicolas Sarkozy has been shadowed by legal troubles since he lost the 2012 presidential election
- Latest trial is the result of a decade of investigations into accusations that Sarkozy accepted illegal campaign financing
PARIS: Former French president Nicolas Sarkozy, already convicted twice in separate cases since leaving office, on Monday goes on trial charged with accepting illegal campaign financing in an alleged pact with the late Libyan dictator Muammar Qaddafi.
The career of Sarkozy has been shadowed by legal troubles since he lost the 2012 presidential election. But he remains an influential figure for many on the right and is also known to regularly meet President Emmanuel Macron.
The fiercely ambitious and energetic politician, 69, who is married to the model and singer Carla Bruni and while in power from 2007-2012 liked to be known as the “hyper-president,” has been convicted in two cases, charged in another and is being investigated in connection with two more.
Sarkozy will be in the dock at the Paris court barely half a month after France’s top appeals court on December 18 rejected his appeal against a one year prison sentence for influence peddling, which he is to serve by wearing an electronic bracelet rather than in jail.
The latest trial is the result of a decade of investigations into accusations that Sarkozy accepted illegal campaign financing — reportedly amounting to some 50 million euros — from Qaddafi to help his victorious 2007 election campaign.
In exchange, it is alleged, Sarkozy and senior figures pledged to help Qaddafi rehabilitate his international image after Tripoli was blamed for bombing attacks on Pan Am Flight 103 in 1988 over Lockerbie in Scotland and UTA Flight 772 in 1989 that killed hundreds of passengers.
Sarkozy has denounced the accusations as part of a conspiracy against him, insisting that he never received any financing for the campaign from Qaddafi and that there is no evidence of any such transfer.
At a time when many Western countries were courting Qaddafi for energy deals as the maverick dictator sought to emerge from decades of international isolation, the Libyan leader in December 2007 visited Paris, famously installing his tent in the center of the city.
But France then backed the UN-sanctioned military action that helped in 2011 oust Qaddafi, who was then killed by rebels. Sarkozy has said allegations from former members of Qaddafi’s inner circle over the alleged campaign financing are motivated by revenge.
If convicted, Sarkozy faces up to 10 years in prison under the charges of concealing embezzlement of public funds and illegal campaign financing. The trial is due to last until April 10.
Sarkozy “is awaiting these four months of hearings with determination. He will fight the artificial construction dreamed up by the prosecution. There was no Libyan financing of the campaign,” said his lawyer Christophe Ingrain.
Among 12 others facing trial over the alleged Libyan financing are heavyweights such as Sarkozy’s former right-hand man, Claude Gueant, his then-head of campaign financing, Eric Woerth, and former minister Brice Hortefeux.
“Claude Gueant will demonstrate that after more than ten years of investigation, none of the offenses he is accused of have been proven,” said his lawyer Philippe Bouchez El Ghozi, denouncing the cases as amounting to “assertions, hypotheses and other approximations.”
For the prosecution, the pact started in 2005 when Qaddafi and Sarkozy, then interior minister, met in Tripoli for a meeting ostensibly devoted to fighting illegal migration. But Sarkozy’s defense counters that no trace of the illegal financing was ever found in the campaign coffers.
The scandal erupted in April 2012, while Sarkozy was in the throes of his re-election campaign, when the Mediapart website published a bombshell article based on a document purportedly from December 2006 it said showed a former Libyan official evoking an agreement over the campaign financing.
Sarkozy has long contended that the document is not genuine.
An embittered Sarkozy would later narrowly lose the second round of the election to Socialist Francois Hollande.
Franco-Lebanese businessman Ziad Takieddine, a key figure in the case, had claimed several times that he helped deliver up to five million euros ($5.4 million at current rates) in cash from Qaddafi to Sarkozy and his chief of staff in 2006 and 2007.
But in 2020, Takieddine suddenly retracted his incriminating statement, raising suspicions that Sarkozy and close allies may have paid the witness to change his mind.
In a further twist, Sarkozy was charged in October 2023 with illegal witness tampering while Carla Bruni was last year charged with hiding evidence in the same case.
Sarkozy’s second conviction, in another campaign financing case, was confirmed last year by a Paris appeals court which ruled he should serve six months in prison, with another six months suspended. This verdict can still go to a higher domestic appeals court.
Indian forces clash with Maoist rebels, five dead
- More than 10,000 people have died in the decades-long insurgency waged by Naxalite rebels
- Rebels demand land, jobs and share of central India’s natural resources for local residents
New Delhi: Indian security forces on Sunday battled with Maoist rebels in their forested heartland, police said, with at least four guerillas and one policeman killed.
More than 10,000 people have died in the decades-long insurgency waged by Naxalite rebels, who say they are fighting for the rights of marginalized indigenous people in India’s resource-rich central regions.
Government forces stepped up efforts last year to crush the long-running armed conflict, with some 287 rebels killed in 2024, according to government figures.
Clashes broke out late Saturday in Abujhmarh district of Chhattisgarh state, a key battleground in the insurgency.
“Four bodies of Maoists, who were in their battle uniform, have been recovered after an encounter with police forces,” police inspector general P. Sunderraj told AFP, adding one police constable had also been killed.
“Action is still on,” he said.
Around 1,000 suspected Naxalites were arrested and 837 surrendered during 2024.
Amit Shah, India’s interior minister, warned the Maoist rebels in September to surrender or face an “all-out” assault, saying the government expected to quash the insurgency by early 2026.
The insurgency has been drastically restricted in area in recent years.
The Naxalites, named after the district where their armed campaign began in 1967, were inspired by the Chinese revolutionary leader Mao Zedong.
They demanded land, jobs and a share of the region’s immense natural resources for local residents, and made inroads in a number of remote communities across India’s east and south.
The movement gained in strength and numbers until the early 2000s when New Delhi deployed tens of thousands of security personnel against the rebels in a stretch of territory known as the “Red Corridor.”
Authorities have since invested millions of dollars in local infrastructure and social projects to combat the Naxalite appeal.
Indian forces clash with Maoist rebels, five dead
- More than 10,000 people have died in the decades-long insurgency waged by Naxalite rebels
- Government forces stepped up efforts last year to crush the long-running armed conflict
NEW DELHI: Indian security forces on Sunday battled with Maoist rebels in their forested heartland, police said, with at least four guerillas and one policeman killed.
More than 10,000 people have died in the decades-long insurgency waged by Naxalite rebels, who say they are fighting for the rights of marginalized indigenous people in India’s resource-rich central regions.
Government forces stepped up efforts last year to crush the long-running armed conflict, with some 287 rebels killed in 2024, according to government figures.
Clashes broke out late Saturday in Abujhmarh district of Chhattisgarh state, a key battleground in the insurgency.
“Four bodies of Maoists, who were in their battle uniform, have been recovered after an encounter with police forces,” police inspector general P. Sunderraj said, adding one police constable had also been killed.
“Action is still on,” he said.
Around 1,000 suspected Naxalites were arrested and 837 surrendered during 2024.
Amit Shah, India’s interior minister, warned the Maoist rebels in September to surrender or face an “all-out” assault, saying the government expected to quash the insurgency by early 2026.
The insurgency has been drastically restricted in area in recent years.
The Naxalites, named after the district where their armed campaign began in 1967, were inspired by the Chinese revolutionary leader Mao Zedong.
They demanded land, jobs and a share of the region’s immense natural resources for local residents, and made inroads in a number of remote communities across India’s east and south.
The movement gained in strength and numbers until the early 2000s when New Delhi deployed tens of thousands of security personnel against the rebels in a stretch of territory known as the “Red Corridor.”
Authorities have since invested millions of dollars in local infrastructure and social projects to combat the Naxalite appeal.
South Korean protesters brave cold to demand Yoon Suk Yeol’s ouster as detention deadline looms
- Dozens of anti-corruption agency investigators and police attempted to execute a detainment warrant against Yoon on Friday
- But there was tense standoff with the presidential security service that lasted more than five hours
SEOUL: Hundreds of South Koreans, bundled up against freezing temperatures and snow, rallied overnight into Sunday near the residence of impeached President Yoon Suk Yeol, calling for his ouster and arrest, as authorities prepared to renew their efforts to detain him over his short-lived martial law decree.
Dozens of anti-corruption agency investigators and police attempted to execute a detainment warrant against Yoon on Friday but retreated from his residence in Seoul after a tense standoff with the presidential security service that lasted more than five hours.
The one-week warrant for his detention is valid through Monday. There were no immediate indications that anti-corruption authorities were ready to send investigators back to the residence as of Sunday afternoon. Staff from the presidential security service were seen installing barbed wire near the gate and along the hills leading up to Yoon’s residence over the weekend, possibly in preparation for another detention attempt.
A Seoul court last Tuesday issued a warrant to detain Yoon and a separate warrant to search his residence after the embattled president repeatedly defied authorities by refusing to appear for questioning and obstructing searches of his office. But enforcing them is complicated as long as Yoon remains in his official residence.
Investigators from the country’s anti-corruption agency are weighing charges of rebellion after the conservative president, apparently frustrated that his policies were blocked by a legislature dominated by the liberal opposition, declared martial law on Dec. 3 and dispatched troops to surround the National Assembly.
The Assembly overturned the declaration within hours in a unanimous vote and impeached Yoon on Dec. 14, accusing him of rebellion, while South Korean anti-corruption authorities and public prosecutors opened separate investigations into the events.
If the anti-corruption agency manages to detain Yoon, it will likely ask a court for permission to make a formal arrest. Otherwise, Yoon will be released after 48 hours.
The Corruption Investigation for High-Ranking Officials, which is leading a joint investigation with police and military investigators, says detaining Yoon would be “virtually impossible” as long as he is protected by the presidential security service. The agency has urged the country’s acting leader, Deputy Prime Minister Choi Sang-mok, to instruct the service to comply with their execution of the detainment warrant, but Choi has yet to publicly comment on the issue.
The chiefs and deputy chiefs of the presidential security service defied summonses on Saturday from police, who planned to question them over the suspected obstruction of official duty following Friday’s events.
Hundreds of anti-Yoon protesters rallied for hours near the gates of the presidential residence from Saturday evening to Sunday, voicing frustration over the failed detention attempt and demanding stronger efforts to bring Yoon into custody. Separated by police barricades and buses, pro-Yoon protesters were gathering in nearby streets, denouncing his impeachment and vowing to block any efforts to detain him.
Yoon’s lawyers have challenged the detention and search warrants against the president, saying they cannot be enforced at his residence due to a law that protects locations potentially linked to military secrets from search without the consent of the person in charge — which would be Yoon. They also argue the anti-corruption office lacks the legal authority to investigate rebellion charges and that police officers don’t have the legal authority to assist in detaining Yoon.
While the presidential security act mandates protection for Yoon, it does not authorize the presidential security service to block court-ordered detainments. The service’s attempts to block the execution of the warrant may amount to an obstruction of official duty, according to Park Sung-bae, an attorney specializing in criminal law. While the president mostly has immunity from prosecution while in office, the protection does not extend to allegations of rebellion or treason.
The agency said its outnumbered investigators had several scuffles with presidential security forces that threatened their safety and expressed “serious regret” that Yoon was not complying with the legal process.
After getting around a military unit guarding the residence’s grounds, the agency’s investigators and police were able to approach within 200 meters (yards) of Yoon’s residential building but were stopped by a barricade comprising around 10 vehicles and approximately 200 members of the presidential security forces and troops. The agency said it wasn’t able to visually confirm whether Yoon was inside the residence.
The Defense Ministry says the troops at Yoon’s official residence are under the control of the presidential security service. Kim Seon-ho, the acting defense minister, conveyed his concern to the presidential security service, saying that deploying military personnel to block the execution of the detention warrant would be “inappropriate” and requesting that the troops aren’t placed in a position where they might confront police, according to the ministry.
Yoon’s defense minister, police chief and several top military commanders have already been arrested over their roles in the period of martial law.
Yoon’s presidential powers have been suspended since the National Assembly voted to impeach him on Dec. 14. Yoon’s fate now lies with the Constitutional Court, which has begun deliberations on whether to uphold the impeachment and formally remove Yoon from office or reinstate him.
More records found linking Credit Suisse, Nazi accounts: US panel
- US Senate Budget Committee says Credit Suisse concealed information during previous inquiries into Nazi-controlled bank accounts during World War II
- Credit Suisse, now a subsidiary of investment bank UBS, agreed in 1998 to take part in a $1.25 billion settlement of lawsuits brought by Holocaust survivors
WASHINGTON: An investigation by a US Senate panel has found that troubled investment bank Credit Suisse concealed information during previous inquiries into Nazi-controlled bank accounts during World War II.
Tens of thousands of documents discovered during an ongoing examination have provided new proof of the existence of account holders linked to the Nazis, the Senate Budget Committee said in a statement released Saturday.
The bank did not reveal the existence of these accounts during previous investigations, notably in the 1990s, the committee said.
Credit Suisse, now a subsidiary of investment bank UBS, agreed in 1998 to take part in a $1.25 billion settlement of lawsuits brought by Holocaust survivors, but it has been accused of not being completely open about its past dealings with Nazis.
The Senate committee said Saturday that one set of newly discovered files, including 3,600 physical documents and 40,000 microfilms, was found to have a “high relevance rate” of Nazi connections.
It said the revelations stem from an interim report by former prosecutor Neil Barofsky, who was fired as an “independent ombudsperson” by the bank in 2022 after being pressed to limit his investigative work.
Barofsky was reinstated in the role in 2023 “as a result of the Committee’s investigation,” and after UBS’s takeover of Credit Suisse.
In a letter to the panel released Saturday, Barofsky noted the “extraordinary level of cooperation that Credit Suisse, under the leadership of UBS, has provided” since he rejoined the company.
But he said Credit Suisse had yet to share all the information it held.
The Barofsky team has discovered, among other things, accounts controlled by high-ranking SS officers, the Wall Street Journal reported.
In his letter, Barofsky highlighted “especially noteworthy” discoveries from a Credit Suisse research department.
“Numerous client files in the sample are marked with a stamp stating ‘Amerikanische schwarze Liste’ — meaning ‘American Black List’ — a list maintained by the Allies of individuals and companies that were directly financed by, or were known to regularly trade with, Axis powers,” he wrote.
“One file bearing this stamp relates to an entity that was involved in selling looted Jewish assets.”
Contacted by AFP, UBS said it was committed to providing a complete record of the former Nazi-linked accounts in Credit Suisse’s predecessor banks.
It said it would provide Barofsky with all necessary assistance in his work to shed light “on this tragic period.”
The Senate panel’s investigation is continuing.
