Top news today, December 6: A host of developments and events are expected in India and internationally on December 6 in the markets, political, financial, technology, and general spheres. Take a look.
Today, on December 6, Reserve Bank of India Governor Shaktikanta Das is set to announce the Monetary Policy Committee (RBI MPC) meeting’s decision today, later Finance Minister Nirmala Sitharaman will hold a pre-Budget meeting with stakeholders.
And in Maharashtra, the state government has declared a local holiday in Mumbai and its suburbs for Mahaparinirvan Diwas which celebrates Dr. BR Ambedkar; while the markets space is abuzz with IPO listings, ex-trade news and economic data.
RBI Governor Shaktikanta Das will unveil the fifth monetary policy for FY25 today on December 6, after a two-day review meeting amid recent worrying prints of headline inflation and gross domestic product (GDP).
The review by the six-member MPC led by Das will provide a framework for the central bank’s policy in 2025. The central bank’s rate-setting panel will adopt the policy stance as a base for the remainder of the current fiscal as it seeks to strike a fine balance between sustaining growth and keeping retail inflation under the four per cent target.
For the December meeting, D-Street experts are divided on whether the rate-setting panel will maintain its stance on the key interest rates or go for its first policy reduction since February 2023. While some expect a CRR reduction to benefit banks, others anticipate a status quo this time and a rate cut in February.
Finance Minister Nirmala Sitharaman will start her pre-Budget consultations with economists today (December 6), according to a PTI report. This comes amid a seven-quarter low GDP print of 5.4 per cent recorded in the Q2FY25.
Then on December 7, Sitharaman will consult with farmer associations and agriculture economists and stakeholders in MSME sector, sources told the news agency. The pre-Budget consultation will end on December 30 with consultations with captains of Indian industry and players in the social sector, especially education and health. In between, meetings are scheduled with trade unions, financial sectors, services sectors etc, the sources said.
The Union Budget 2025-26 is likely to be tabled in Parliament on February 1. It would be the eighth straight Budget to be presented by Sitharaman and the second full budget of the Modi 3.0 government.
The Maharashtra government has declared December 6 a local holiday for Mumbai and suburban areas on the Mahaparinirvan Diwas 2024. The state government issued a notification which said that a local holiday has been declared for the state government and semi-government offices in Mumbai and suburban areas.
On December 6, people in large numbers are expected to come to pay homage to Dr BR Ambedkar on his 68th death anniversary at Chaityabhoomi, where Ambedkar was cremated. It is located at Shivaji Park, less than 2 km from the Dadar station.
Farmer leader Sarwan Singh Pandher has said that a ‘jatha’ (group) will embark on a march to Delhi at 1 PM today from the Shambhu border protest site, according to an ANI report.
Speaking to ANI, Pandher emphasised that the protesters are committed to not giving the Central government any grounds to label them as ‘arrogant’.
“The jatha will leave from here (for Delhi) tomorrow at 1 PM. I hope the government sends a positive message and does not obstruct us. With the barricading being done, it feels as though this has become an international border. Notices are being pasted on the homes of several farmer leaders in Haryana. We will not give the Central government a chance to claim that farmers are arrogant or unwilling to engage in dialogue. Whenever we receive an invitation for talks, we will consider it,” he told ANI.
President Droupadi Murmu will be on a five-day visit to Odisha from December 3-7, as per a PTI report. Here’s a look at her official schedule according to the press statement:
(With inputs from Agencies)
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