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<ul><li>Rana Kapoor’s properties include at least £30 million investment in a hotel in the United Kingdom, a yacht and at least five properties in posh Delhi localities. </li><li>All these properties are estimated to be worth at least ₹5,000 crore. </li><li>According to ED, some of these properties were received as a payback to the high-risk loans offered by Yes Bank to troubled business houses. </li></ul>The Enforcement Directorate (ED) — which arrested tainted billionaire Rana Kapoor for money laundering — claims he amassed properties worth ₹5,000 crore. He invested £30 million in a hotel in the UK, and similar amount in another hotel in New York. He also has a yacht and at least five properties in posh Delhi localities like — <keyword id="4080253" type="PERSON" weightage="20" keywordseo="Amrita-Shergill-Marg">Amrita Shergill Marg</keyword>, Jor Bagh, Hauz Khas. He owns realty across the world in <a href="https://www.businesstoday.in/current/economy-politics/yes-bank-crisis-ed-alleges-rana-kapoor-bought-properties-in-india-us-uk-with-rs-5000-crore-kickbacks/story/398024.html">the US, UK and France</a>. The value of his Delhi properties located at <keyword id="1284233" type="PERSON" weightage="20" keywordseo="Chanakya-Puri">Chanakya Puri</keyword> and Sardar Patel are at ₹350 crore and ₹250 crore, respectively. According to ED, some of these properties were received as kickbacks for high-risk <a href="https://www.businessinsider.in/business/news/the-fall-of-yes-bank-founder-rana-kapoor-from-a-billion-dollars-to-facing-a-4300-crore-investigation/articleshow/74547669.cms">loans offered from Yes Bank troubled business houses, when he was at its helm</a>. According to media reports, these properties are not in his name. They are linked to the shell companies owned by wife <keyword id="217025" type="PERSON" weightage="20" keywordseo="Bindu-Kapoor">Bindu Kapoor</keyword> and three daughters <a href="https://www.businessinsider.in/finance/news/rana-kapoors-daughters-who-said-no-to-banking-are-now-in-the-dock-with-yes-bank-crisis/articleshow/74549729.cms">— Roshini, Radha and Rakhee</a>. One of properties at Amrita Shergill Marg in Delhi is under Bindu Kapoor’s company, Bliss Abode. <div type="image" title="25110ed6046e3eb4597f509f58f1c4eb" msid="74594240" hostid="261"></div>

Property at Amrita Shergill Marg in Delhi/IANS Rana Kapoor was known for extravagant lifestyle. According to livemint, Kapoor along with his family, were planning to leave the country and <a href="https://www.livemint.com/news/india/rana-kapoor-s-3-plush-delhi-properties-under-ed-lens-11583924526629.html">settle abroad. </a>Moreover, he was also thinking of selling these properties before escaping the country. However, that plan has failed. ED has started investigating all the properties owned by Kapoor including the one in Mumbai. On March 5, the Reserve Bank of India superseded Yes Bank’s board and imposed a withdrawal limit of ₹50,000 on its customers for a month. ED believes that Kapoor’s unethical and illegal practises led the bank into trouble. It arrested Rana Kapoor over charges of insider trading and money laundering last week. The agency is also investigating his daughters. See also: <a href="https://www.businessinsider.in/finance/news/rana-kapoors-daughters-who-said-no-to-banking-are-now-in-the-dock-with-yes-bank-crisis/articleshow/74549729.cms">The three Kapoor sisters who said ‘no’ to banking are now in the dock with Yes Bank crisis</a> <a href="https://www.businessinsider.in/business/news/the-fall-of-yes-bank-founder-rana-kapoor-from-a-billion-dollars-to-facing-a-4300-crore-investigation/articleshow/74547669.cms">The fall of Yes Bank founder Rana Kapoor from a billion dollars to facing a ₹4300 crore investigation</a>

A reported list of Rana Kapoor’s assets include a £30 million investment in UK, a yacht and five properties in Delhi

Realty major <keyword id="6362997" type="CITY" weightage="100" keywordseo="DLF">DLF</keyword>'s total rental income will rise by 12 per cent to about Rs 2,900 crore this fiscal on better realisation from existing commercial assets and addition of new properties in Chennai and Delhi, according to a PTI news report. DLF, the country's largest real estate firm, earned a rental income of around Rs 2,600 crore last fiscal. The company informed analysts that total rental income will rise to Rs 2,900 crore in the 2017-18 fiscal. When contacted, DLF's Managing Director (Rental Buisness) Sriram <keyword id="900635" type="PERSON" weightage="20" keywordseo="Khattar">Khattar</keyword> said that the rentals will rise as the company has renewed its existing stock at a higher value after the expiry of 9-year leasing agreement with the occupiers. Moreover, he said, about one million sq ft area will gadded this fiscal in Chennai and the national capital. Given the quality of our office buildings and shopping malls as well as our focus on safety, compliance and sustainability, an overwhelming majority of our tenants renew their leases on term expiries at market rates," Khattar said. "In addition, about 8 lakh sq ft in Chennai and about 1.9 lakh sq ft in Chanakya Puri, Delhi will be the new assets that will add to the rental income," he said. In an analyst conference, DLF's group CFO Ashok Tyagi had said that the company's total income is expected at Rs 2,900 crore this fiscal. According to investors presentation, DLF's gross leasing stood at 4.03 million sq ft during the last fiscal. "Net leasing of 0.88 million sq ft post lease terminations/expiry of 3.15 msf during FY17." Unlike housing segment which is facing a huge slowdown in demand, the commercial real estate is doing well. In October 2015, DLF had announced that its promoters would sell their entire 40 per cent stake in <keyword id="2531590" type="COMPANY" weightage="20" keywordseo="DLF-Cyber-City-Developers-Ltd">DLF Cyber City Developers Ltd</keyword> (DCCDL), which holds the bulk of the commercial assets of the group. The promoters -- billionaire K P Singh and family -- had in March this year entered into an exclusivity pact with <keyword id="6357968" type="ORGANIZATION" weightage="20" keywordseo="GIC">GIC</keyword> for the deal, estimated at about Rs 13,000 crore. The promoters would invest a significant amount from this proposed transaction into <keyword id="102030" type="CITY" weightage="20" keywordseo="DLF-LTD">DLF Ltd</keyword>, which will use it for reduction of debt that has crossed Rs 25,000 crore. DLF expects an agreement with the GIC in the next few weeks and deal to be concluded by October this year after receiving regulatory and all other approvals. The company has about 30 million sq ft of commercial area and out of that, DCCDL holds about 22 million sq ft of commercial space.

DLF's total rental income to rise to Rs 2,900 crore this fiscal

Back in 4th century B.C., a philosopher-statesman <keyword id="120638" type="PERSON" weightage="100" keywordseo="chanakya">Chanakya</keyword> a.k.a. Kautilya wrote the first few principles of <a href="http://www.businessinsider.in/searchresult.cms?query=administrative+management">administrative management</a>. Widely regarded as India’s first <a href="http://www.businessinsider.in/searchresult.cms?query=economist">economist</a>, his <a href="http://www.businessinsider.in/searchresult.cms?query=management+theories">management theories</a> guided royalty from times immemorial. 
 Kautilya documented his life’s labour in the <keyword id="146895" type="UNKNOWN" weightage="100" keywordseo="Arthashastra">Arthashastra</keyword>, a list of principles that would ensure sound governance. The book is known more for its contents on <a href="http://www.businessinsider.in/searchresult.cms?query=economy">economy</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=polity">polity</a>, but also contains advice on <a href="http://www.businessinsider.in/searchresult.cms?query=financial+management">financial management</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=administration">administration</a>. While a lot of his management principles have been subject to extensive study, his <keyword id="34454" type="ORGANIZATION" weightage="100" keywordseo="leadership">leadership</keyword> lessons are also more than relevant in today’s society. 
 
Business Insider India unfurls a bounty of Vedic wisdom from Chanakya for modern day managers and administrators. 
 
Image credit: Google Plus

Top 10 Leadership Lessons from
Chanakya

To influence voters in Bihar, <a href="http://www.businessinsider.in/searchresult.cms?query=Prime+Minister+Narendra+Modi+">Prime Minister Narendra Modi</a> announced on Tuesday a package of whopping Rs 1.25 lakh crore for the state and promised that it would touch new heights of development if the BJP is voted to power. 
 
Modi also attacked <a href="http://www.businessinsider.in/searchresult.cms?query=Bihar+Chief+Minister+Nitish+Kumar+">Bihar Chief Minister Nitish Kumar</a> for putting the prestige of Bihar at stake by pleading with the previous <a href="http://www.businessinsider.in/searchresult.cms?query=UPA+government+">UPA government</a> for packages and getting only Rs 12,000 crore, reported PTI. 
 "I am here today to fulfill my promise to you. I am announcing a package of Rs 1.25 lakh crore for Bihar. Now you give me your blessings to change the fate of Bihar," he said at a government function in <keyword id="1076700" type="UNKNOWN" weightage="60" keywordseo="Arrah">Arrah</keyword> district, where several projects were launched. 
 
The PM also made it clear that the Rs 1.25 lakh crore package will be in addition to the ongoing projects worth Rs 40, 657 crore, announced previously. 
 In the wake of high-stakes state assembly polls, the BJP is banking heavily on the Centre's development package to wrest power from <keyword id="6358190" type="PERSON" weightage="80" keywordseo="Nitish-Kumar">Nitish Kumar</keyword>, its one time ally-turned-rival, who has now joined hands with <a href="http://www.businessinsider.in/searchresult.cms?query=Lalu+Prasad%27s+RJD+">Lalu Prasad's RJD</a> to take on the saffron combine. 
 
Attacking Kumar for his claim that Bihar was no longer a 'bimaru' state as claimed by Modi in his previous rally in Bihar, Modi wondered why he had been seeking packages all the time. 
 
He said: "Our chief minister turned very angry and said who is Modi to call Bihar a 'bimaru' state. He said with authority that Bihar is no longer a bimaru state. If it is true, then I will be the happiest person. I welcome this.” 
 
"Tell me, if somebody is healthy, will he go to a doctor. If somebody's stomach is full, will he go anywhere seeking food? I am surprised that on the one hand he says Bihar is not bimaru and on the other he keeps asking for something or the other. Let the people of Bihar decide," Modi said. 
 
He further cited the previous two packages of Rs 10,000 crore and Rs 12,000 crore given to the state in 2003 and 2013 and said the CM could not utilize them properly. 
 
Referring to Kumar's split with BJP in 2013, he said the chief minister then went to 'Delhi Durbar' and pleaded that please give me something to keep my honour. 
 
"For political benefits, he put at stake the prestige of Bihar," Modi said, adding that Rs 12000 crore given by UPA was like giving a candy to a child who cries too much. 
 
Invoking freedom fighter Babu Veer Kunwar Singh, who hailed from Arrah, and seeking <a href="http://www.businessinsider.in/searchresult.cms?query=Jayaprakash+Narayan">Jayaprakash Narayan's</a> blessings, he went on to ask people, "Should it be Rs 50, 000 crore or more, Rs 60, 000 cr, Rs 70, 000 cr...," he said as the crowd cheered and then stood up as he made the final announcement of Rs 1.25 lakh crore. 
 Wooing the electorate, he said people of Bihar were bestowed with "sharp intellect" and mentioned that <keyword id="120638" type="PERSON" weightage="80" keywordseo="chanakya">Chanakya</keyword> was born here. 
 
He also spoke about the "comprehensive work" being done by his government, especially regarding skilling youth and training women, to develop the country and took a jibe at the previous dispensations, saying they had a "piecemeal" approach to progress. 
 
The CM, who had gone to receive Modi at <a href="http://www.businessinsider.in/searchresult.cms?query=Patna+Airport">Patna Airport</a>, was not present at the Arrah function where the PM inaugurated &amp; laid foundation stone of 11 National Highway projects of 700 km at a cost of Rs 9,700 crore. 
 
(Image: Indiatimes)

Bihar to soon be flooded with cash! Rs 1.65 lakh cr handed out for the state

The votes are in, the election commission is armed, and tallies are finally being made. As lakhs of viewers tune into their news to update themselves, many are coming away shocked at the current standings. Despite confident promises of capturing 400 of the 543 Indian seats, the Bharatiya Janata Party (<keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords">BJP</keyword>) has barely won a dozen or two seats more than the halfway mark of 272, as per the initial few rounds of counting. This is still an impressive position to be in, and certainly enough to help the BJP-led <keyword id="105903" type="General" weightage="20" keywordseo="national-democratic-alliance" source="Orion">National Democratic Alliance</keyword> (<keyword id="19938590" type="General" weightage="20" keywordseo="NDA" source="keywords">NDA</keyword>) make another term. However, the overwhelming, yet lukewarm, support has inadvertently deflated the ‘Abki baar 400 paar’ chant echoed by the party throughout its campaigning. Further, this comes mere days after Uttar Pradesh Chief Minister Yogi Adityanath called the slogan the ‘common man’s mantra’. <cmsannotation type="cmsannotation" annotationid="Exit polls gone wrong" comment="subhead" text="Exit polls gone wrong"><keyword id="21129157" type="General" weightage="20" keywordseo="exit-polls" source="keywords">Exit polls</keyword> gone wrong</cmsannotation> Party conjecture aside, most exit polls had also predicted a landslide victory for the NDA, with some even predicting the party crossing the 400 marks, helping the alliance comfortably bring in a third term for current Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword>. However, Congress leaders staunchly dismissed these findings, asserting that the <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">INDIA</keyword> alliance will achieve at least over 250 seats this election. While exit polls have exercised a notoriously patchy reputation for delivering inaccurate findings in the past, the surveys might have gotten it wrong far more than usual this time around. For instance, the BJP has been predicted to win 400 seats by News 24-Today’s Chanakya poll, 358 as per Times Now-ETG, 392 per India V-CNX. <table class="redcator-table-advance" style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 955.049px; font-family: Merriweather; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;"><tbody><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;"> </td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">NDA</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">INDIA</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">Others</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">Times Now - ETG </td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">358</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">152</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">33</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">Matrize - Republic</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">361</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">126</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">56</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">Jan Ki Baat - NDTV </td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">377</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">151</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">15</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">PMARQ - Republic</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">359</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">154</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">30</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">India News - D-Dynamics</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">371</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">125</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">47</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">Today's Chanakya - News24</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">400</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">107</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">36</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">India TV</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">386</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">124</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">33</td></tr><tr><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">Poll of polls</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">369</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">143</td><td style="padding: 5px; border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); font-size: 16px; vertical-align: top;">31</td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> However, the Modi-led alliance has yet to cross the 300 mark. If this trend holds, a majority government will form with BJP-led NDA acquiring slightly below 300 seats, almost mirroring exact forecasts by on-ground reporters and some political experts. However, this is quite in contrast with almost all exit polls this election season. If the scorecard settles at the current mark, this will end up becoming the poorest performance for NDA since their historic win in 2014. The alliance came to power after winning an overwhelming 336 seats in 2014, and 353 seats in 2019. However, the main point of shock has come from the performance of Congress and the INDIA bloc, who have maintained a steadfast 200+ seats since the initial polling rounds. Out of the nine odd exit polls that came out with results recently, none had predicted the INDIA bloc to win over 150-170 seats. As the tallying moves into its final phases, let’s look at how exit polls performed in the previous election cycles. <cmsannotation type="cmsannotation" annotationid="2014 elections" comment="subhead" text="2014 elections">2014 elections</cmsannotation> In 2014, 834 million voters participated in the largest-ever elections worldwide — only to be surpassed by the 2019 <keyword id="19895394" type="General" weightage="100" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> elections. An average of eight exit polls had indicated that the BJP would see a 283-seat victory, while the opposition would have had to settle for 105 seats. Just as predicted, the BJP saw a landslide victory and swooped in 282 of the 543 seats, with a vote percentage of 31.3%. This win was a huge blow to the INC, which only won 44 seats compared to the 206 in 2009. Since a party must win at least 55 seats to become an official opposition party in India, the Congress’s defeat meant that there was no official opposition party for India. <cmsannotation type="cmsannotation" annotationid="2019 elections" comment="subhead" text="2019 elections">2019 elections</cmsannotation> The previous Lok Sabha elections turned out to be an even bigger win for the BJP! In 2019, exit polls had predicted that the BJP-led National Democratic Alliance would peak at 306 and that the INC-led United Progressive Alliance (UPA) would win just 120. However, the post-poll statistics turned out to be underwhelming. The BJP won a whopping 37.36% of the vote — the highest by a political party since the 1989 general elections. It won 303 seats, while the NDA collectively won 352 seats. It was another crushing defeat for the Congress, which won just 52 seats, failing to claim the post of Leader of the Opposition once again.

Trends indicate INDIA maintaining 200+ seats, defying all exit poll predictions; how accurate have these surveys been since 2014?

Exit polls on Thursday gave varied predictions in the poll-bound states, giving advantage to BJP in Madhya Pradesh and Rajasthan, a clear edge to Congress in Chhattisgarh and Telangana and that the ruling MNF was ahead in power sweepstakes in Mizoram. While the <keyword id="609507" type="General" weightage="70" keywordseo="exit-poll" source="Orion">exit poll</keyword>s were almost unanimous in giving an edge to Congress in Telangana, where polling concluded on Thursday, a few predicted a close call in Rajasthan with Congress too in the lead and an exit poll gave a little edge to the party in Madhya Pradesh too. A poll predicted that Zoram People's Movement will win decisively in Mizoram. The outcome of exit polls was released after the conclusion of polls in Telangana. If Congress is able to retain Rajasthan along with Chhattisgarh and oust the ruling BRS from Telangana, it will be a major morale-booster for the party. Five states went to the polls this month with counting slated for December 3. The polling in five states that are in northern, eastern and southern parts of the country, came months before the next Lok Sabha polls. Exit polls predicted that Congress is poised to form government in Telangana and that the ruling Bharat Rashtra Samithi (BRS) would fall short of the majority after its 10-year rule in India's youngest state. The polling for the 119-member Telangana assembly was held on Thursday. The Times Now-ETG exit poll gave 38 per cent vote share to BRS, 43 per cent to Congress and 13 per cent to others in Telangana. It said the ruling party in the state is poised to win 37-45 seats, Congress 60-70 seats, BJP 6-8 and others 5-7 seats. Republic TV exit poll gave Congress 58-69 seats and the BRS 46-56 seats. It said BJP could win 4 to 9 seats and others 5 to 8 seats. The poll predicted a 41.60 per cent vote share for BRS, 43.30 per cent for Congress, 10.80 per cent for BJP and 4.30 for others. The India TV-CNX exit poll predicted 63-79 seats for the Congress, 31-47 for the BRS, 0-2 for the BJP and 5-7 for others. According to Jan ki Baat poll, Congress is poised to win 48 to 64 seats in Telangana. It said BRS could win 40 to 55 seats and BJP 7 to 13 seats. Telangana recorded a voter turnout of 70.28 per cent. The exit polls said that two regional players in Mizoram - MNF and ZPM - are in the race to form government in Mizoram with most predictions stating that the ruling party led by Chief Minister Zoramthanga has an advantage in the northeastern state while there is also a possibility of a hung assembly. Mizoram went to the polls on November 7 for its 40-member assembly. The ruling Mizo National Front (MNF) faced a challenge from the Zoram People's Movement (ZPM), Congress and BJP. According to India Today-Axis My India poll predictions for Mizoram, the Zoram People's Movement is poised for a massive victory in Mizoram and could win 28-35 seats. It said the ruling MNF is expected to win 3 to 7 seats. MNF, the poll said, will get 27 per cent votes and ZPM 49 per cent votes. Congress is poised to get 20 per cent votes, the exit poll said. Times Now-ETG poll gave 14-18 seats to MNF with 32.20 per cent vote share, 10-14 to ZPM with 29.30 per cent votes and said that Congress is expected to get 9-13 seats with 27.80 per cent vote share. Jan Ki Baat poll gave 10-14 seats to MNF with a vote share of 22 per cent, 15-25 seats to ZPM with a vote share of 40 per cent and predicted that Congress will get 30 per cent votes and 5-9 seats. India TV-CNX poll predicted 14-18 seats for MNF and 12-16 seats for ZPM. It said Congress is expected to get 7-10 seats.' Republic TV gave a 32.60 per cent vote share to the MNF, 14.60 per cent to ZPM and 31.20 per cent to Congress. It gave 17-22 seats to MNF, 7-12 to ZPM, Congress to get 7-10 seats and one seat to BJP. P-Marq poll said that MNF will win 14-20 seats, ZPM 9-15 seats, Congress 7-13 seats and others 0-2 seats. In Madhya Pradesh, most exit polls said that BJP has a clear advantage as they predicted Congress falling short in its poll effort in the state where it was expecting to gain from "anti-incumbency" against the government. Most exit polls predicted that the BJP, which has ruled the state for almost 18 of the past 20 years, is set for another term in office with a huge majority. An exit poll gave advantage to the Congress and another predicted that the two parties were on an equal footing. Madhya Pradesh went to the polls on November 17 for its 230 seats and the counting of votes along with that in four other states will take place on December 3. According to India Today-Axis My India prediction, the BJP will retain power in Madhya Pradesh by bagging 47 per cent vote share and 140-162 seats. It said Congress is likely to get 60-90 seats with a 41 per cent vote share. Others are expected to get 12 per cent votes and 0-3 seats. According to the India TV-CNX poll, BJP is poised to get 48 per cent votes, Congress 38 per cent and others 16 per cent. The poll predicted 140-159 seats for BJP, 70-89 seats for Congress and 0-2 for others. The Times Now-ETG gave 43.83 per cent vote share to BJP, 42.23 per cent to Congress and 13.94 per cent to others. It said the ruling party in the state is poised to win 105-117 seats, Congress 109-125 seats and others 1-5 seats. Republic TV gave a 43.4 per cent vote share to the BJP, 41.7 per cent to Congress and 14.9 per cent to others. It gave 118-130 seats to BJP, 97-107 to Congress and 0-2 polls for others. The poll done by Today's Chanakya predicted Congress getting 74-86 seats in Madhya Pradesh with 38 per cent vote share and BJP getting 151-163 seats with 45 per cent vote share. It said others are likely to have 17 per cent vote share and 5-9 seats. In Rajsathan, exit polls reinforced the perception of a hard contest with differences in their prediction of the winner in the crucial Hindi heartland state that has a nearly three-decade tradition of not repeating an incumbent government. The exit poll predictions showed that "others" including smaller parties and independents could play a crucial role in the formation of the government when the results are announced on December 3. Rajasthan went to the polls on 199 of 200 assembly seats on November 25. The Congress government in the state led by Chief Minister Ashok Gehlot unleashed a series of populist schemes closer to the assembly election to ward off the challenge from the BJP. According to India Today-Axis My India poll, Congress is poised to get 86-106 seats in Rajasthan with 42 per cent votes and BJP 80-100 seats with 41 per cent vote support. Others are poised to seven per cent votes and 9-18 seats. India TV-CNX poll predicted 94-104 seats for Congress with 43 per cent votes and 80-90 seats for BJP with 42 per cent vote share. It said 'others' are expected to get 15 per cent votes and 14-18 seats. Times Now-ETG poll gave 56-72 seats to Congress with 38.98 per cent vote share, 108-128 to BJP with 41.88 per cent votes and others expected to get 13-21 seats with a sizeable 19.14 per cent vote share.' The Jan Ki Baat poll gave 100-122 seats to BJP with vote share of 44 per cent, 62-85 seats to Congress with a vote share of 41 per cent and predicted that others will get 15 per cent votes and 14-15 seats. The P-Marq poll said BJP will win 105-125 seats in Rajasthan with 42.2 per cent vote share and Congress 69-81 seats with 39.7 per cent votes. It said others are poised to get 5-15 seats with 18.1 per cent vote, it said. In Chhattisgarh, exit polls gave Congress a clear edge, showing that the ruling party in the state is poised to return to power with the BJP also expected to put up a good contest unlike in the 2018 polls. While three polls predicted a clear victory of Congress in the state, others said that the party was in the winning range. The Congress fought the election with Chief Minister Bhupesh Baghel at the helm. According to ABP C-Voter predictions, Congress is poised to win 41-53 seats in the state which has a 90-member assembly. The exit poll said BJP is poised to get 36-48 seats and others 0-4 seats. The India Today-Axis My India poll predicted Congress getting 40-50 seats, BJP 36-46 seats and others getting 1-5 seats. The Republic TV exit poll gave Congress 44-52 seats, BJP 34-42 seats and 0-2 polls for others. India TV-CNX poll predicted 46- 56 seats for Congress, 30-40 seats for BJP and 3-5 for others. The numbers for Congress and BJP in the Jan Ki Baat exit poll were 42-53 and 34-45 respectively and it predicted 0-3 seats for others. The P-Marq poll said Congress is poised to win 46-54 seats with 44.6 per cent vote, BJP 35-42 seats with 42.9 per cent vote and others will get 0-2 seats with 12.5 per cent votes. The poll done by Today's Chanakya predicted that Congress will get 57-66 seats in Chhattisgarh with BJP getting 33-42 seats with 0-3 seats going to the others. Counting in four other states that went to the polls this month will also take place on December 3. The polls, held months before the Lok Sabha polls, are crucial for BJP and Congress for various reasons.

Exit polls predict BJP advantage in MP, Rajasthan, Congress win in Chhattisgarh, Telangana and tight contest in Mizoram

Veteran actor <keyword id="928841" type="General" weightage="80" keywordseo="arun-bali" source="Orion">Arun Bali</keyword>, best known for his work on TV show <keyword id="105559" type="General" weightage="80" keywordseo="swabhimaan" source="Orion">Swabhimaan</keyword> and blockbuster hit 3 Idiots , died on Friday morning at his residence in suburban Mumbai. He was 79. <keyword id="19988" type="General" weightage="100" keywordseo="bali" source="Orion">Bali</keyword>'s son Ankush said his father was suffering with Myasthenia gravis, an autoimmune disease caused by communication failure between nerves and muscles, for which he was admitted to a hospital early this year. Ankush said his father was responding well to the treatment but passed away at around 4.30 am.My father left us. He was suffering from Myasthenia gravis. He had mood swings for two-three days. He told the caretaker he wanted to go to the washroom and after coming out he told him he wanted to sit down and he never got up then, he told PTI. Bali made his acting debut with noted filmmaker Lekh Tandon's TV show Doosra Keval as superstar Shah Rukh Khan's uncle and went on to work in TV shows such as period drama Chanakya , Swabhimaan , Des Mein Niklla Hoga Chand , Kumkum Ek Pyara Sa Bandhan , and P.O.W. - Bandi Yuddh Ke . Some of his popular films include Saugandh , Raju Ban Gaya Gentleman , Khalnayak , Satya , Hey Ram , Lage Raho Munna Bhai , 3 Idiots , Ready , Barfi , Manmarziyaan , Kedarnath , <keyword id="13358496" type="General" weightage="50" keywordseo="samrat-prithviraj" source="Orion">Samrat Prithviraj</keyword> , and Laal Singh Chaddha . His last film Goodbye , also featuring <keyword id="6357912" type="General" weightage="50" keywordseo="amitabh-bachchan" source="Orion">Amitabh Bachchan</keyword> and Rashmika Mandanna, released on Friday. Bali is survived by a son and three daughters. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/covid-19-and-flu-coinfection-rising-in-india-who-warns-it-may-escalate-in-the-winters/articleshow/94682987.cms">Covid-19 and flu coinfection rising in India, WHO warns it may escalate in the winters</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/nykaa-enters-into-a-jv-with-dubai-based-fashion-retailer-apparel-group/articleshow/94686015.cms">Nykaa enters into a JV with Dubai-based fashion retailer Apparel Group</a>

Swabhimaan actor Arun Bali passes away at 79 in Mumbai

<ul><li>The Reserve Bank of India on Thursday made a moderate revision in its growth and inflation outlook for FY24. </li><li>Citing robust urban demand and a healthy growth in rural demand during Q4, <keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> increased the FY24 GDP growth outlook to 6.5% from 6.4% earlier. </li><li>RBI has projected FY24 inflation at 5.2% from 5.3% earlier, citing robust rabi harvest, easing commodity prices and expectations of a normal monsoon. </li></ul>The Reserve Bank of India on Thursday revised India’s economic growth outlook upwards, expecting a real gross domestic product (GDP) growth rate of 6.5% in FY24, crediting it to a resilient economy in Q4 FY23. This is a 10 basis point increase from the previous Monetary Policy Committee (<keyword id="6369693" type="General" weightage="80" keywordseo="mpc" source="Orion">MPC</keyword>) announcement in February, which pegged FY24 GDP growth at 6.4%. RBI governor Shaktikanta Das announced the upward revision in the GDP growth outlook during the<a href="https://www.businessinsider.in/finance/news/rbis-monetary-policy-committee-keeps-repo-rate-unchanged-at-6-5/articleshow/99284354.cms"> MPC announcement today</a> while keeping the repo rate unchanged at 6.5%. Das said that the Indian economy is projected to grow at 7.8% in Q1 FY24, and subsequently at 6.2%, 6.1% and 5.9% in the second, third and fourth quarters, respectively. <div type="image" title="India GDP FY24 RBI projection April 2023." msid="99289989" hostid="261" sizebytes="13812" caption="&amp;lt;p&amp;gt;RBI&amp;#39;s FY24 GDP growth projection&amp;lt;/p&amp;gt;"></div> “While the numbers may not really be significant, the messaging is subtle that the MPC expects the economy to fare well on both counts this year,” said Madan Sabnavis, chief economist, Bank of Baroda. <cmsannotation type="cmsannotation" annotationid="Resilient economy, healthy growth in rural demand" comment="subhead" text="Resilient economy, healthy growth in rural demand">Resilient economy, healthy growth in rural demand</cmsannotation> Crediting the upward revision to a resilient economic performance in Q4, Das said that the overall demand scenario was robust in Q4 – while urban demand remained robust, rural demand had also seen a healthy growth in consumer non-durables, tractors and two-wheeler sales. “Looking ahead, the higher rabi production has brightened the prospects for the agriculture sector and rural demand. The steady growth in contact-intensive services should be positive for urban demand,” Das said. According to the analysts at ICICI Securities, too, high frequency indicators like GST collections, auto sales, air traffic, power demand, among other factors suggest that data does not corroborate the thesis of a slowdown in India. In contrast, data does suggest a slowdown in developed markets, the brokerage said. Echoing similar sentiments, Suvodeep Rakshit, Senior Economist, Kotak Institutional Equities, said, “The RBI remains comfortably on the growth front, for now. We believe the risks to this outlook are skewed towards the downside.” With that being said, some analysts say RBI’s 6.5% growth projections could be slightly on the optimistic side. It is worth noting that the World Bank revised India’s FY24 growth projections slightly downwards to 6.3% from 6.6% earlier. “The 6.5% GDP growth rate appears to be on the optimistic side when seen in the context of a slowing global economy,” said VK Vijayakumar, chief investment strategist at Geojit Financial Services. The Asian Development Bank too expects India’s growth to moderate to 6.4% in FY24 from 6.8% in FY23. Das, too, hedged growth expectations by stating that there are additional downside risks from financial stability concerns, alluding to the banking sector crisis in the US and Europe. For context, the International Monetary Fund, too, has trimmed the 2023 growth outlook for the global economy to 2.9% from 3.4% in 2022. <cmsannotation type="cmsannotation" annotationid="Inflation expected to soften, but battle not over yet" comment="subhead" text="Inflation expected to soften, but battle not over yet">Inflation expected to soften, but battle not over yet</cmsannotation> In a similar vein, RBI has trimmed its consumer price index (CPI) inflation expectations for FY24 marginally from 5.3% earlier to 5.2% now. <div type="image" title="CPI inflation FY24 RBI projection April 2023." msid="99290019" hostid="261" sizebytes="13944" caption="&amp;lt;p&amp;gt;RBI&amp;#39;s FY24 CPI inflation projection&amp;lt;/p&amp;gt;"></div> However, RBI’s battle against inflation is not over yet – in fact, Das said that the MPC will step in if the need arises. “The war against inflation will continue until we see a durable decline in inflation, closer to the target. The MPC will not hesitate to take further action as may be required in its future meetings,” Das said. He also noted that the core inflation is still ‘rigid’, further reinforcing the fact that the inflation battle will be “gradual and protracted”. One of the factors which could spoil RBI’s inflation projections is the threat of El Niño, which could adversely impact farm output. Earlier, the Finance Ministry had also flagged its concerns amidst an IMD prediction of above-normal temperatures in India this year. “An El Nino this year will negatively impact kharif sowing and next year’s rabi sowing due to lower availability of water,” said JM Financial. On the whole, while making marginal revisions in its GDP and inflation outlook, Das said he is confident that the MPC is on the right track and is maintaining an agile stance to ensure the financial system’s stability, recalling Kautilya’s (also known as Chanakya) advice: “Be not slack before the whole job is finished”. The first MPC meet of FY24 has set a positive tone on both the critical fronts of growth and inflation. It remains to be seen if it is on the right track or if a course correction is required down the path. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rbis-monetary-policy-committee-keeps-repo-rate-unchanged-at-6-5/articleshow/99284354.cms">RBI’s Monetary Policy Committee keeps repo rate unchanged at 6.5%, for now</a> <a href="https://www.businessinsider.in/stock-market/news/after-the-ides-of-march-analysts-pick-best-stocks-that-can-be-bought-on-dips/articleshow/99272438.cms">After the Ides of March, analysts pick best stocks that can be bought on dips</a> <a href="https://www.businessinsider.in/finance/news/-jio-financial-services-demerger-and-listing-a-key-moment-for-reliance-stock/articleshow/99264110.cms">Jio Financial Services demerger and listing a ‘key moment’ for Reliance stock</a>

RBI revises India’s FY24 growth outlook, expects softer inflation on the back of lower commodity prices

<ul><li>Amazon is all set to host the <keyword id="14381742" type="General" weightage="20" keywordseo="prime-day-sale-2022" source="Orion">Prime Day sale 2022</keyword> in India on July 23 and July 24.</li><li>The two-day event is the biggest sale the e-commerce giant hosts each year.</li><li>The sale will be available exclusively for Amazon Prime members.</li></ul> Amazon’s most awaited <keyword id="3492906" type="General" weightage="20" keywordseo="prime-day-sale" source="Orion">Prime Day sale</keyword> 2022 is just around the corner. The e-commerce giant is all set to host the sixth Prime Day sale in India on July 23 and 24 in the country. The Prime Day 2022 sale in the US, UK, and some other markets will begin on July 12. For those unaware, Prime Day is the biggest sale the company hosts each year and the sale lasts for just two days. As part of the sale, users can avail huge discounts and cashbacks across a wide range of products. <cmsannotation type="cmsannotation" annotationid="Exclusive access to Prime members" comment="subhead" text="Exclusive access to Prime members">Exclusive access to Prime members</cmsannotation> Usually, Prime users get an advantage over other users during sales on Amazon as they can access deals a day earlier than normal users. The Prime Days sale goes a step ahead and is exclusively available for Prime users on both days. So, if you are thinking about purchasing something from the upcoming sale and are not a Prime member, you need to subscribe to Amazon Prime from <a href="https://www.amazon.in/amazonprime?tag=tech_insider_india_buynowbluebutton-21">here</a>. <cmsannotation type="cmsannotation" annotationid="Keep your cards ready" comment="subhead" text="Keep your cards ready">Keep your cards ready</cmsannotation> Like each sale, Amazon has partnered with banks to offer special discounts to their card holders. During the Prime Day sale, ICICI Bank debit and credit card users and SBI credit card users will be able to avail of a 10% instant discount on their purchase. <cmsannotation type="cmsannotation" annotationid="Over 32,000 new products to be launched" comment="subhead" text="Over 32,000 new products to be launched">Over 32,000 new products to be launched</cmsannotation> Amazon has announced that over 30,000 new products will be launched by over 400 Indian and global companies like Samsung, Xiaomi, boAt, Intel, and others during the sale. In addition to this, you will also be able to get your hands on over 2,000 new products from small and medium-scale businesses from across the country like Karagiri, Nirvi Handicrafts, Himalayan Origins, Space in art, and more. <cmsannotation type="cmsannotation" annotationid="Deals on mobiles, tech, appliances, fashion and more" comment="subhead" text="Deals on mobiles, tech, appliances, fashion and more">Deals on mobiles, tech, appliances, fashion and more</cmsannotation> If you are looking for smartphones, laptops, a new TV for your home, new clothes, or everyday essentials, you will be able to get them at a discounted price during the sale. In addition to this, Amazon’s roster of products such as Amazon Echo, Fire TV Stick, Kindle, and other devices will be available at attractive prices with discounts of up to 55%. Over the next few days, Business Insider India will bring you some of the best deals you can avail yourself during Prime Day 2022 across various segments. <cmsannotation type="cmsannotation" annotationid="Prime Video offers" comment="subhead" text="Prime Video offers">Prime Video offers</cmsannotation> If you were thinking Prime Day 2022 will bring offers only on products, there are some exciting announcements for Prime Video users as well. The e-commerce giant has announced that add-on subscriptions like Lionsgate Play, Eros Now, hoichoi, AMC+, Nammaflix, and others will be available at a 50% discount during the sale. Amazon has also announced that two highly anticipated titles will be released ahead of the sale. <cmsannotation type="cmsannotation" annotationid="Free eBooks" comment="subhead" text="Free eBooks">Free eBooks</cmsannotation> Prime users will also get free access to 18 eBooks like ``One Indian Girl" by Chetan Bhagat, Chanakya in the Classroom, Irrfan Khan: The Man, The Dreamer, The Star, and more during the sale. “Our sixth Prime Day in India is bigger, better, and packed with unmatched shopping and entertainment experience for all our Prime members. We are humbled by the fabulous response and strong support of our existing Prime members to date, and I am confident that they will discover joy across exciting deals, new launches, and blockbuster entertainment during this Prime Day,” said Akshay Sahi, Director, Prime, and Fulfilment experience, Amazon India. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/best-oneplus-new-models-phones-in-2022/articleshow/92693671.cms">Best OnePlus smartphone 2022: which OnePlus phone is best for you?</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-5g-smartphones-under-30000-in-india/articleshow/92655583.cms">Best 5G smartphones under ₹30,000 in India</a> <a href="https://www.businessinsider.in/tech/gadgets/news/best-new-laptops-for-students-under-30000-in-india/articleshow/92570924.cms">Best laptops for students under ₹30,000</a>

Amazon Prime Day Sale 2022 to begin on July 23 in India – everything you need to know about the biggest sale on Amazon

The Aam Aadmi Party has nominated five persons for <keyword id="48510" type="General" weightage="20" keywordseo="rajya-sabha" source="Orion">Rajya Sabha</keyword> from <keyword id="6354953" type="General" weightage="100" keywordseo="punjab" source="Orion">Punjab</keyword> where it swept the assembly polls and has formed the government. The five Rajya Sabha MPs include two businessmen, one IIT professor and cricketer <keyword id="368" type="General" weightage="20" keywordseo="harbhajan-singh" source="Orion">Harbhajan Singh</keyword>. While <keyword id="78659" type="General" weightage="20" keywordseo="ashok-mittal" source="Orion">Ashok Mittal</keyword> and <keyword id="255145" type="General" weightage="20" keywordseo="sanjeev-arora" source="Orion">Sanjeev Arora</keyword> are businessmen, former cricketer is Harbhajan Singh. Apart from that, <keyword id="66" type="General" weightage="50" keywordseo="delhi" source="Orion">Delhi</keyword> MLA <keyword id="6394261" type="General" weightage="20" keywordseo="raghav-chadha" source="Orion">Raghav Chadha</keyword> and IIT professor <keyword id="348756" type="General" weightage="20" keywordseo="sandeep-pathak" source="Orion">Sandeep Pathak</keyword> have also been nominated for the Rajya Sabha. Ashok K. Mittal is the founder chancellor of the prestigious academic institution, Lovely Professional University (LPU). Hailing from a humble background, Mittal worked his way up to become an accomplished entrepreneur. As a way to serve the society and the state of Punjab, he founded LPU which is one of the largest universities in India today with students from over 50 countries. Sanjeev Arora runs the Krishna Pran Breast Cancer Charitable Trust that was established after his parents lost their lives to cancer. But main business is export house. Arora is also on the governing board of Dayanand Medical College &amp; Hospital, Ludhiana, and is also a member of the Apex Council of Punjab Cricket Association. He has been the Secretary of Sutlej Club, Ludhiana, a prime institution of Punjab that provided ample help to the Ludhiana District Administration by donating ambulances, PPE Kits, and other essentials. Raghav Chadha was appointed as the youngest spokesperson of the party and has executed crucial party campaigns in Delhi &amp; Punjab. Chaddha spearheaded the critical water reforms as Delhi Jal Board Vice-Chairman and is one of the architects of the party's resounding victory in Punjab. A graduate from the London School of Economics, Chaddha met <keyword id="260213" type="General" weightage="20" keywordseo="arvind-kejriwal" source="Orion">Arvind Kejriwal</keyword> in 2012, who urged him to get involved in the drafting of the Delhi Lokpal Bill as his first task. In the 2020 Delhi Legislative Assembly Elections, Chadha registered an emphatic victory as the party's candidate from Rajinder Nagar Assembly Constituency. Harbhajan Singh is India's most successful off-spin bowler who played for the Indian national cricket team between 1998 and 2016. Singh was captain of the Indian Premier League team Mumbai Indians and captained Punjab for the 2012-13 Ranji Trophy season. Under his captaincy, Mumbai won the 2011 Champions League Twenty20. An Arjuna and Padma Shri awardee, Singh has been actively working for the upliftment of disadvantaged children through the Smile Train Foundation and Tera Tera Foundation. Sandeep Pathak is touted as Aam Aadmi Party's Chanakya, responsible for the party's spectacular win in Punjab elections in 2022. Pathak is an IIT-Delhi Associate Professor who joined the party to realize Arvind Kejriwal's dream of a corruption-free India. Pathak received his PhD from the University Of Cambridge, UK in 2011. He has been working behind the scenes for many years and built the entire organization cadre in Punjab. He was the man behind conducting accurate and scientific surveys in the state, selection of candidates, and deciding the entire strategy for the party's resounding victory in Punjab. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-slightly-down-at-57793-while-nifty-is-trading-almost-flat-at-17000/articleshow/90350690.cms">Sensex slightly down at 57,793, while Nifty is trading almost flat at 17,000</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/ruchi-soya-stock-tanks-after-the-baba-ramdev-backed-company-announces-4300-crore-fpo-at-a-35-discount/articleshow/90351347.cms">Ruchi Soya stock tanks after the Baba Ramdev-backed company announces ₹4,300 crore FPO at a 35% discount</a>

Harbhajan Singh,  Ashok Mittal, Sanjeev Arora, Sandeep Pathak, and Raghav Chadha are AAP's new Rajya Sabha nominees from Punjab

<ul><li><keyword id="685487" type="General" weightage="100" keywordseo="spotify" source="Orion">Spotify</keyword> <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> has run a series of experiments in the <keyword id="35286" type="General" weightage="80" keywordseo="India-market" source="Orion">India market</keyword> to capture the audience- like offering different price points to users. </li><li>When Spotify India entered the market 70% of the consumption was international music but now it’s 70% local music. </li><li>Podcasts are a “fast-growing category in India” on Spotify, with more than 10x growth compared to 2019.</li></ul>Four years ago when the digital audio streaming platform Spotify entered the Indian market, it was competing with other platforms, radio stations, YouTube, and pirated music. Yet, in four years, Spotify India has spread across 7,500 towns and cities, having leveraged the Indian market’s openness to experimental offerings and learning from them. In an exclusive conversation with Business Insider India, Arjun Kolady, head of sales, Spotify India, and Akshat Harbola, head of strategy and operations, Spotify India shed light on Spotify’s 4-year-long journey in India and how the price-conscious India market is ready to pay. “We’re closer to the inflection point when it comes to paid subscriptions in the market than we were ever before. I think India is going to be a huge <keyword id="16716172" type="General" weightage="20" keywordseo="paid-market" source="Orion">paid market</keyword>, not just for Spotify but in general,” states Harbola. In the last four years, Harbola, who’s interestingly one of Spotify India’s first employees, has seen the company grow its consumer base, brand awareness, and team size - evolving, as he puts it, from a niche global brand popular only among tech enthusiasts and people who discovered Spotify while travelling abroad to a local music player. “When we started in 2019, the consumption was 70% international music, now it’s 70% local music. A lot of this growth is driven by the growth we’ve seen in regional music - particularly in the South of India; that’s been the fastest growing,” said Harbola. <cmsannotation type="cmsannotation" annotationid="Podcasts, Punjabi pop and more: Understanding the Indian market" comment="subhead2" text="Podcasts, Punjabi pop and more: Understanding the Indian market">Podcasts, Punjabi pop and more: Understanding the Indian market</cmsannotation> While India mirrors other emerging markets with respect to paying customers, what stands out here is the predominance of consumption on mobile, and the number of languages people listen to, states Kolady. Harbola agrees, adding that this comes from the diversity in the country, making India a “local music market” - where every language has a user base. “In the south of India, Tamil and Telugu are doing very well for us, but Malayalam was the fastest growing in Q4 for us. Punjabi is a force in itself…Every region has its nuances - there’s demand for each of those languages but it also depends on the maturity of the ecosystem. In Punjabi, you see a lot of entertainment music; in Tamil, you’ll not see that level of consumption happening because the supply isn’t as mature,” adds Harbola. Though Punjabi certainly enjoys greater consumption, Harbola believes it's unfair to believe one language dominates over the others within India - because here the crossover of languages is happening at a scale never seen before. “It’s not just India, it’s also global - artists, music, genres, or tracks we’re able to put in front of a global audience because we’re present in almost 180 countries. Or K-pop, which enjoys a great following in India. I think all those lines are blurry now and cultural influences are easily transferring across geographies, both within and also globally,” adds Kolady. Spotify revealed that among artists, Arijit Singh and AR Rahman, and among genres, Punjabi pop and film music are popular outside India as well. The platform is present in 184 countries. Additionally, podcasts is also a “fast-growing category in India”, with more than 10x growth compared to 2019, stated Harbola. “There are 2 parallel strands when it comes to podcast consumption - shows like thrillers or horror tend to do very well. We’ve also looked at getting some of our original productions from outside of India into India - and those have done well. The other area that does well is self-help and knowledge and learning,” added Harbola. As per <a href="https://www.thehindu.com/entertainment/music/spotify-unveils-2022s-spotify-wrapped-stats-arijit-singh-sidhu-moosewala-pritam-come-on-top/article66204971.ece">Spotify Wrapped 2022</a>, The Sex Podcast by Leeza Mangaldas was the most streamed podcast on Spotify in India in 2022, followed by The Mythpat Podcast, The Ranveer Show, Chanakya Niti, and On Purpose with Jay Shetty. Hindi was also <a href="https://www.adgully.com/spotify-brings-batman-to-india-with-its-latest-podcast-batman-ek-chakravyuh-117210.html">one of the nine languages </a>in which the audio streaming platform released its global audio series, Batman Unburied. <cmsannotation type="cmsannotation" annotationid="Monetising in the Indian market" comment="subhead2" text="Monetising in the Indian market">Monetising in the Indian market</cmsannotation> Spotify has two revenue streams - subscriptions and ads. It’s no secret that users accustomed to skipping ads don’t necessarily enjoy the ads that crop up between songs on Spotify. And yet, Spotify India stands as “one of the fastest, if not the fastest growing ads business for Spotify in the world”, as per Kolady. Spotify India is working with 300 brands right now - but it had to start from scratch and build the audio advertising ecosystem in India when it entered, states Kolady. Within audio advertising, only radio existed in India. Compared to a developed market like the “multimillion-dollar radio business in the US which was ripe for digitisation, radio marketing in India is 1% or less of the overall media spend,” claims Kolady. Kolady adds that Spotify India’s growth trajectory for the advertisement business mirrors the growth trajectory of their consumer base - but while “they’ll always be users who prefer the free product”, the focus is also on building the premium market. <cmsannotation type="cmsannotation" annotationid="Building the premium market in India" comment="subhead2" text="Building the premium market in India">Building the premium market in India</cmsannotation> When it came to its other monetising avenue, premium or subscriptions, Spotify India employed a three-level strategy - building habits, addressing barriers (of awareness and payment), and having an adaptive playbook, states Harbola. Harbola shared that ‘building habits’ refers to developing an engaging free-tier experience that pushes customers to choose premium. Addressing barriers includes providing popular payment methods (from wallets to UPI) and having third parties (banking partners or e-commerce players, etc) promote the brand to their users. And an adaptive playbook refers to continuously experimenting with the premium plans as per markets and users. “We have a unique free tier in India and we’re running a series of experiments in the market - like offering different price points to users – Spotify Mini, for example, where you can take a weekly or even daily plan if that’s the price point that works for you,” added Harbola. Apart from the four regular premium plans (individual, duo, family, and student), Spotify also offers premium mini in developing markets like India, Indonesia, etc. In India, premium mini is <a href="https://www.spotify.com/in-en/premium/">currently </a>priced at ₹7/day and ₹25/week - <a href="https://www.indiatoday.in/technology/news/story/spotify-now-available-in-india-for-all-users-here-are-the-prices-for-premium-plans-1465956-2019-02-27">down </a>from ₹13/day and ₹39/week in 2019. While the plans are understandably priced differently across markets, the individual monthly plan is the <a href="https://edm.com/industry/spotify-premium-prices-by-country">cheapest </a>in India, available for only ₹119/month. Comparatively, it’s available in the US for a monthly charge of $9.99, or about ₹824. Spotify India shared that though a majority of their users are still on the free tier, India has seen a 10x-fold increase in the number of subscriptions since 2019. And the focus for 2023 and beyond will be on “accelerating our dual monetisation engine - ad sales and premium subscription growth,” states Harbola.

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