Top news, 10 Dec: From ‘One Nation One Election’ Bill to Time’s naming Donald Trump Person of the Year to D Gukesh becoming youngest-ever World Chess Champion at 18, here are today’s top stories.
India’s consumer price index (CPI)– based inflation eased to 5.48 per cent in November after soaring vegetable prices moderated due to an improvement in supply, boosting expectations of an interest rate cut by the Reserve Bank of India (RBI) in the February policy review amid concerns around slowing growth.
November’s inflation print moderated after the indicator hit a 14-month high in October due to high food inflation and subdued urban consumption. That prompted the central bank to raise the inflation projection for the current fiscal to 4.8 per cent from 4.5 per cent in the December monetary policy review.
Indian markets experienced a volatile session on Thursday, December 12, despite a strong handover from Wall Street, as investors exercised caution ahead of India’s key retail inflation data, scheduled for release later in the day.
According to a Mint poll of 16 economists, retail inflation is expected to have eased to 5.5% in November, down from 6.2% in October. Even if inflation moderated in November, it would still have exceeded the Reserve Bank of India’s (RBI) medium-term target of 4%, reflecting ongoing challenges in achieving sustained price stability.
IT stocks performed well in today’s session, with major heavyweights closing in the green. However, weak performances by Reliance Industries and private sector banks, including ICICI Bank, HDFC Bank, and Kotak Mahindra Bank, dragged the markets lower.
Indian Grandmaster D Gukesh became the youngest-ever world champion when the 18-year-old defeated reigning champions from China, Ding Liren, on Thursday at the World Chess Championship 2024, which was held in Singapore. Gukesh defeated Liren in the 14th and last game of a thrilling showdown to claim the world title.
Gukesh secured the requisite 7.5 points as against 6.5 of Liren after winning the last classical time control game of the 14-game match that seemed headed for a draw for most part.
Before Gukesh’s feat on Thursday, the legendary Garry Kasparov of Russia was the youngest world chess champion when he won the title at the age of 22, dethroning Anatoly Karpov in 1985.
Prime Minister Narendra Modi-led Union Cabinet has approved the ‘One Nation, One Election’ Bill to be tabled in the Parliament in the ongoing Winter Session of Parliament.
The bill paves way for unified elections across the nation. The government will eventually refer the bill to the Joint Parliamentary Committee (JPC) for further scrutiny, according to sources.
The Union Cabinet, led by Prime Minister Narendra Modi, had approved the implementation of the ‘One Nation, One Election’ in September this year to conduct simultaneous elections for the Lok Sabha, state assemblies, and local bodies in a phased approach.
Time Magazine named Donald Trump its Person of the Year for the second time, recognizing his significant political impact and historic comeback following his election victory over Kamala Harris on November 5.
The magazine said in a statement, “For marshaling a comeback of historic proportions, for driving a once-in-a-generation political realignment, for reshaping the American presidency and altering America’s role in the world, Donald Trump is Time’s 2024 – Person of the Year.”
Trump, who beat Vice President Kamala Harris in the November 5 election, adorns the title’s cover this week sporting his distinctive red tie and striking a pensive pose.
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