India Begins Election Process To Elect Next Government, Oil Prices Up A Notch On Iran Explosions

Lok Sabha Election Cycle Begins With First Phase, TN’s Big Day

The 2024 Lok Sabha elections got off to a brisk start with polling beginning in Phase 1, the Economic Times reported. The National Democratic Alliance led by Prime Minister Narendra Modi aims for a third term as 102 parliamentary seats across 21 states and Union Territories vote today.

Almost 17 crore individuals are eligible to vote in the first phase. With nearly 97 crore registered voters nationwide, the BJP has posed a tough challenge to Dravidian parties in Tamil Nadu and maintains its strongholds across the country. The whole of Tamil Nadu and Puducherry is voting today. The election is being held in seven phases, the next day of voting is April 26 and results will be declared on June 4. Read more

Oil Prices Jump US$3 Per Barrel After Reports Of Explosions In Iran

Oil prices jumped US$3 a barrel in reaction to unconfirmed reports on X that explosions had occurred in Iran, said a Reuters report on Moneycontrol. Brent futures jumped US$3.03, or 3.5 per cent, to US$90.14 a barrel, and US West Texas Intermediate crude rose US$3.03, or 3.7 per cent, to US$85.76 per barrel.

The reports have sparked worry that Israel has responded to Iran's drone and missile attack of last weekend, the report said. Investors have been monitoring Israel's reaction to the April 13 Iranian drone attacks. The geopolitical risk premium in oil prices had been unwinding this week on the perception that any Israeli retaliation to Iran's attack would be moderated by international pressure. Read more

Digitisation Of Land Records To Be Completed By 2026

The Central government is working on digitisation of land records as one of the priority reforms for the incoming administration, the Economic Times reported. The government may allocate Rs 1,035 crore for the proposed plan that seeks to complete the digitisation of all land records by the end of 2026, helping streamline the land acquisition process and speed up projects, the report said.

The move may be announced when the full budget is presented and is part of the next government's 100-day economic agenda. It includes rejigging land-use policies for urban, forest and agricultural land, which will speed up key infrastructure projects. Here’s more 

Meeting Of EV Majors Has Representative Attend For Tesla

The first consultation on India’s new electric vehicle (EV) policy with global and local companies was held recently with Tesla being represented by advisor, The Asia Group (TAG) India, the Economic Times reported. Representatives of Vietnam's VinFAST, which is setting up an EV plant in Tamil Nadu, also joined the meeting by video.

The TAG India representative is said to have maintained he was there just as an observer. The meeting comes days ahead of Tesla chief Elon Musk’s visit to India. Participants included Tata Motors, Maruti Suzuki, Mahindra & Mahindra, Hyundai, BMW, Kia, Volkswagen, Mercedes, Toyota and Renault-Nissan. Read more 

DGCA Data Shows 1,371 Bird Strike Incidents Reported In 2023

Bird strike incidents have touched a six-year high with 1,371 incidents reported in India in 2023, the Business Standard reported quoting Directorate General of Civil Aviation (DGCA) data. 
The 1,371 bird strike incidents marked a 21.2 per cent increase compared to 2022. In response to the escalating incidents of birds hitting the planes, the Airports Authority of India (AAI) has been taking a slew of measures.

Each AAI-controlled airport has been implementing various steps tailored to local geography to deter birds and animals, according to officials. These include measures such as noise-making guns, firecrackers for bird control and deployment of jeeps to scare birds away. Read more

Credit Card And Loans Sector Hiring In Top Gear For This Year

You better get used to those pesky credit card sellers on the phone! The demand for manpower to sell credit cards and loans continues to increase, the Economic Times reported, quoting staffing services companies and executives from the banking and financial services sector.

The surge in demand for personnel is despite the Reserve Bank of India stricture on unsecured loans. Staffing mandates in frontline sales jobs from banking and financial sector companies are 14-20 per cent higher this month compared with a year earlier, the report said. Industry executives said about 25,000-30,000 frontline sales personnel are likely to be hired in the April-June quarter. Here’s more