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<ul><li>India is asking <keyword id="6356687" type="General" weightage="50" keywordseo="canada" source="Orion">Canada</keyword> to take action against those facing charges related to terrorism.</li><li>Canadian PM unequivocal about the importance of the rule of law and protecting Canadians.</li><li>Both the countries have fired a diplomat each in a tit-for-tat move.</li></ul> Canada Prime Minister <keyword id="1740494" type="General" weightage="80" keywordseo="justin-trudeau" source="Orion">Justin Trudeau</keyword> on Thursday said that India is a country of growing importance, adding that Canada is not looking to provoke or cause problems and called upon the government of India to work with Ottawa to establish processes to uncover the truth in the murder of Khalistan extremist, <keyword id="7575364" type="General" weightage="40" keywordseo="Hardeep-Singh-Nijjar" source="Orion">Hardeep Singh Nijjar</keyword>. Trudeau's recent statement comes as the diplomatic standoff between India and Canada escalated to a level that the envoys of both countries have been expelled in a tit-for-tat move. He also stressed that Canada is unequivocal about the importance of the rule of law and protecting Canadians as well as standing up for values. "There is no question, India is a country of growing importance and a country that we need to continue to work with not just in a region but around the world and we are not looking to provoke or cause problems but we are unequivocal about the importance of the rule of law and unequivocal about of the importance of protecting Canadians and standing up for values," Trudeau said while addressing a press conference at Canada's Permanent Mission to the United Nations in New York. "That's why, we call upon the government of India to work with us to establish processes to uncover the truth of the matter and to allow justice and accountability to be served," Trudeau added. Trudeau's recent statement comes as the diplomatic standoff between India and Canada escalated to a level that the envoys of both countries have been expelled in a tit-for-tat move. Indian <keyword id="193522" type="General" weightage="20" keywordseo="External-Affairs-Ministry" source="Orion">External Affairs Ministry</keyword> in its response to the allegations by Canada had said, "Yes these allegations were raised by Canadian PM Justin Trudeau with PM (Modi) and PM rejected them." Indian government's stance The MEA said that allegations were raised by Trudeau when he was in India to attend the G20 Summit and that PM Modi had rejected them. MEA spokesperson <keyword id="10953867" type="General" weightage="20" keywordseo="Arindam-Bagchi" source="Orion">Arindam Bagchi</keyword> said that Canada has not shared any specific information regarding the allegations and that India is asking Canada to take action against those facing charges related to terrorism."We are willing to look at any specific information that is provided to us, but so far we have received no specific information from Canada," Bagchi said on Thursday answering queries. "We are willing to look at any specific information that is provided to us, but so far we have received no specific information from Canada," Ministry of External Affairs spokesperson Arindam Bagchi said on Thursday answering queries. Moreover, Canadian Prime Minister Justin Trudeau also took questions about Canada's tensions with India during a press conference. On sharing evidence, Canadian PM Justin Trudeau said, "Canada has a rigorous and independent justice system, that we trust, to follow through the processes, we will ensure that those processes are strictly, abided by and respected." Regarding the safety of Canadians, he said, "I can tell everyone that Canada is a safe country. We always take Canadians' safety seriously, whether they are at home or abroad." "Canada has a rigorous and independent justice system, that we trust, to follow through the processes, we will ensure that those processes are strictly, abided by and respected. In terms of safety in Canada and the safety of Canadians, we always take the safety of Canadians extremely seriously, whether at home or overseas, I can assure everyone that Canada is a safe country," Trudeau said, while adding, "I continue to call, for calm, and for Canadians to remain true to who we are, open, respectful, grounded in, respect and trust in our institutions and, our law enforcement and justice systems." Speaking further, the Canadian PM repeated his allegations over the killing of the Khalistani leader and stated, "I think it's extremely important that as a country with a strong and independent justice system. We allow those justice processes to unfold themselves with the utmost integrity. But I can assure you, the decision to share these allegations on the floor of the House of Commons was not made lightly. It was done with utmost seriousness..." Nijjar, the chief of Khalistan Tiger Force (KTF) - a Sikh extremist organisation banned by India and a "designated terrorist" was killed in a targeted shooting at British Columbia in Canada's Surrey in June 2018. India, however, rejected the allegations by the Trudeau administration, terming them "absurd" and "motivated". "We have seen and reject the statement of the Canadian Prime Minister in their Parliament, as also the statement by their Foreign Minister," the Ministry of External Affairs (MEA) said in a statement. "Allegations of Government of India's involvement in any act of violence in Canada are absurd and motivated," the MEA added in its statement. "Similar allegations were made by the Canadian Prime Minister to our Prime Minister and were completely rejected. We are a democratic polity with a strong commitment to the rule of law," it added. Diplomatic action India on Tuesday expelled a senior Canadian diplomat in a reciprocal move to Canada expelling a senior Indian diplomat in light of the claim of New Delhi's involvement in the killing of the wanted separatist leader. The MEA said that the Canadian diplomat was asked to leave India within the next five days. "The High Commissioner of Canada to India was summoned today and informed about the decision of the Government of India to expel a senior Canadian diplomat based in India," the MEA stated. "The concerned diplomat has been asked to leave India within the next five days. The decision reflects the Government of India's growing concern at the interference of Canadian diplomats in our internal matters and their involvement in anti-India activities," it added. (With text input from ANI)

India-Canada tension: Trudeau says not looking to provoke; MEA says no specific information shared

Prime Minister Narendra Modi's "short but a very productive visit" to Jakarta, where he participated in the <keyword id="1493716" type="General" weightage="20" keywordseo="ASEAN-India-Summit" source="Orion">ASEAN-India Summit</keyword> and the East Asia Summit, has concluded on Thursday, said Secretary (East), <keyword id="6374106" type="General" weightage="50" keywordseo="ministry-of-external-affairs" source="Orion">Ministry of External Affairs</keyword> (MEA), <keyword id="331724" type="General" weightage="50" keywordseo="saurabh-kumar" source="Orion">Saurabh Kumar</keyword>. "Prime Minister's participation in this summit will give India-ASEAN relations a strategic direction," said Secretary Kumar. In a short video message posted on X, by MEA spokesperson <keyword id="10953867" type="General" weightage="50" keywordseo="arindam-bagchi" source="Orion">Arindam Bagchi</keyword>, Kumar summarised the key takeaways of <keyword id="2238662" type="General" weightage="100" keywordseo="pm-modi" source="Orion">PM Modi</keyword>'s Jakarta visit. He said that PM Modi highlighted the "need to amplify the voice of the Global South, including in the G20". The <keyword id="5891" type="General" weightage="80" keywordseo="asean" source="Orion">ASEAN</keyword> leaders welcomed PM Modi's leadership in the G20 and wished him success and also congratulated India for the successful Chandrayaan-3 mission. "Prime Minister had comprehensive discussions, including in areas such as connectivity, maritime cooperation, digital transformation, trade and economy, environment, health and traditional medicines. In each of these, the Prime Minister made specific proposals, which has already been put out in the form of a twelve-point proposal," said Kumar. He added, "Two joint statements were issued between India and ASEAN. These relate to maritime cooperation and food security. In maritime cooperation, areas such as safety and security of the maritime area, maritime domain awareness, disaster management, blue economy, et cetera, have been covered." Prime Minister also announced the formation of an ASEAN India Fund for Digital Future, which would provide financial connectivity between ASEAN and India, said Kumar, adding, "Prime Minister also announced support for ERIA (Economic Research Institute for ASEAN and East Asia), which is an ASEAN think tank, which would be our knowledge partner to further deepen ASEAN-India relations." He also said that the Prime Minister, during his interactions and discussions, "called for a free, open and rules-based Indo-Pacific, emphasised ASEAN centrality and made the point that cod complements the same". Following his participation in the summits, PM Modi thanked Indonesian President, Joko Widodo, and the people. "Had a very short but fruitful Indonesia visit, where I met ASEAN and other leaders. I thank President @jokowi , the Indonesian Government and people for their welcome," wrote PM Modi on X. PM Modi, who is in Jakarta, will return to New Delhi on Thursday evening ahead of the <keyword id="42982" type="General" weightage="20" keywordseo="g20-summit" source="Orion">G20 Summit</keyword>, which will be held on September 9 and 10. ALSO READ: <a href="https://www.businessinsider.in/india/news/g20-check-out-the-full-list-of-restricted-roads-in-delhi-during-summit/articleshow/103436759.cms" data-type="tilCustomLink" target="_blank">Delhiites, here are all the traffic restrictions as a result of the G20 summit</a>

ASEAN-India Summit: PM Modi highlights need to amplify voice of Global South during Jakarta visit

The <keyword id="6374106" type="General" weightage="50" keywordseo="ministry-of-external-affairs" source="Orion">Ministry of External Affairs</keyword> (<keyword id="6358274" type="General" weightage="80" keywordseo="mea" source="Orion">MEA</keyword>) on Thursday said the companies that operate in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> need to follow the law of the land. The remark was made by an MEA spokesperson in connection with the ongoing investigation related to Vivo and other Chinese firms. "Companies that operate here need to follow the law of the land. Our legal authorities are taking steps as per law of the land. I don't see the case to make comments as such on it," MEA spokesperson <keyword id="10953867" type="General" weightage="80" keywordseo="arindam-bagchi" source="Orion">Arindam Bagchi</keyword> in a media briefing. Meanwhile, a day after it was report<keyword id="12163" type="General" weightage="20" keywordseo="ED" source="Orion">ed</keyword> that two top executives of its associated company likely fled India, following raids, the ED on Thursday said that Chinese smartphone company Vivo was involved in huge 'hawala' transactions. It said that out of the total sale proceeds of Rs 1,25,185 crore, <keyword id="2829414" type="General" weightage="80" keywordseo="vivo-india" source="Orion">Vivo India</keyword> remitted Rs 62,476 crore -- almost 50 per cent of the turnover out of India, mainly to China. According to the ED, all due procedures as per law were followed during the said operations at each premises but employees of Vivo India, including some Chinese nationals did not cooperate with the search proceedings and had tried to abscond, remove and hide digital devices which were retrieved by the search teams. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rakesh-jhunjhunwala-backed-aksa-air-to-start-operations-this-month/articleshow/92738021.cms">Rakesh Jhunjhunwala-backed Aksa Air to start operations this month</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/voice-tech-is-evolving-rapidly-here-are-the-top-trends-in-voice-tech-to-watch-for/articleshow/92727686.cms">Voice tech is evolving rapidly. Here are the top trends in voice tech to watch for</a>

Vivo needs to follow the law of the land, says external affairs ministry

<ul class="summary-list"><li>Russian crude exports to Asia have fallen to their lowest levels since the invasion of Ukraine. </li><li>Shipments are falling below two million barrels per day according to Bloomberg. </li></ul>Russian crude exports to Asia fell last week to their lowest level since the invasion of Ukraine began, in a warning sign to the Kremlin that demand for its oil could be waning. <a href="https://www.bnnbloomberg.ca/russia-s-crude-shipments-to-asia-tumble-to-post-invasion-low-1.1805900">Bloomberg first reported</a> that shipping data for the week ending August 12 showed daily flows below two million barrels per day, bringing Russia's oil exports to the region to the lowest since March. India and China are the biggest importers of Russian crude, and have benefited from snapping up oil at a discount from the Kremlin as Western nations sanction Moscow over its invasion of Ukraine. The single week of data isn't enough to make a conclusive assessment toward India and China's future appetite for Russian oil, but it is a stark metric given both countries' previous reliance on crude from the Kremlin. Arindam Bagchi, a spokesperson for India's Ministry of of External Affairs, elaborated on Friday that the country's energy outlook would "be guided by our energy security requirements."Meanwhile, Russia is still expanding to new markets for exports of oil. Bloomberg cited data showing Russian tankers were headed for Sri Lanka and Egypt. Despite heavy sanctions, Russia continues to rake in profits from sales of its crude oil. Moscow is taking in roughly $30 million more a month from crude exports compared to before the invasion.

Russian crude exports to Asia are falling to their lowest levels since March

An Indian student was killed in Ukraine's Kharkiv on Tuesday morning in shelling as the war between Russia and Ukraine reached big cities' streets. India's Ministry of External Affairs spokesperson Arindam Bagchi said, "With profound sorrow we confirm that an Indian student lost his life in shelling in Kharkiv this morning. The Ministry is in touch with his family." He also said: "We convey our deepest condolences to the family." India's foreign secretary Harsh Vardhan Shringla is calling in Ambassadors of Russia and Ukraine to reiterate India's demand for urgent safe passage for the Indian nationals who are still in Kharkiv and cities in other conflict zones. "Similar action is also being undertaken by our Ambassadors in Russia and Ukraine," Bagchi said. Russia shelled the Ukrainian city of the second largest city Kharkiv on Tuesday damaging various installations over there. The Russian troops have also surrounded Ukraine capital city Kyiv on Tuesday and asked civilians to leave the city on the urgent note. "All civilians in the city can freely leave the Ukrainian capital along the Kyiv-Vasylkiv highway. This direction is open and safe," Russian defence ministry spokesman Igor Konashenkov said. Immediately thereafter, the Indian Embassy in Ukraine asked the stranded nationals to leave Kyiv immediately by any means. "All Indian nationals, including students are advised to leave Kyiv urgently today. Preferably by available trains or through any other means available," Indian Embassy said in an advisory. Russian and Ukrainian troops continued to engage in fighting on Kharkiv streets as war entered into the fifth day after Russian President Vladimir Putin called for military operation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/new-air-india-under-tata-ceo-declines-job-offer-at-the-last-moment-amid-his-alleged-political-links/articleshow/89920258.cms">New Air India CEO declines the role at the last moment, says Indian media ‘coloured’ his appointment</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/cheap-liquor-in-delhi-is-a-thing-of-the-past-now/articleshow/89919730.cms">Cheap liquor in Delhi is a thing of the past now</a>

Indian student killed in shelling in Ukraine as the war with Russia reached big cities' streets

<ul class="summary-list"><li><keyword id="11892747" type="UNKNOWN" weightage="60" keywordseo="india" source="Orion">India</keyword> has joined a diplomatic boycott of the Beijing Olympics just hours before the opening ceremonies.</li><li>The move comes after <keyword id="11892748" type="UNKNOWN" weightage="60" keywordseo="china" source="Orion">China</keyword> highlighted a PLA soldier who was injured during a deadly border skirmish with India.</li></ul>India joined a US-led diplomatic boycott of the Beijing Olympics on Thursday just hours before the controversial host formally kicks off the Winter Olympics, after China featured a soldier who was injured in a deadly skirmish with Indian troops in the games' torch relay."It is indeed regrettable that the Chinese side has chosen to politicize an event like Olympics," Arindam Bagchi, a spokesperson for India's foreign ministry, told reporters, according to Reuters.India was not part of the Western diplomatic boycott until China made the decision to highlight Qi Fabao, a regimental commander in the People's Liberation Army, during its abbreviated torch relay. <a href="https://www.washingtonpost.com/sports/olympics/2022/02/03/olympics-india-china-torch-boycott/">The Washington Post reports</a> that Fabao was awarded top honors after he sustained head injures fighting Indian troops in the Galwan Valley in 2020, a border region between India and China.The two nuclear powers have been at loggerheads after a series of confrontations near the border. Indian officials said that at least 20 of its soldiers died in the 2020 dispute. Insider previously reported that Chinese soldiers reportedly hunted down Indian troops with <a href="https://www.businessinsider.com/chinese-troops-beat-indian-soldiers-batons-wrapped-in-barbed-wire-2020-6">batons wrapped in barbed wire during brutal combat. </a>Doordarshan, India's state broadcaster, later said that it will not show either the opening or closing ceremonies live.China previously vowed that countries that boycott the games would "pay the price for their mistaken act." The US, Britain, Australia, and Canada have refused to send diplomatic representatives or official delegations to the games' ceremonies. In announcing the decision in December, <a href="https://www.businessinsider.com/us-officials-diplomatic-boycott-beijing-winter-olympics-over-xinjiang-genocide-2021-12">the White House cited</a> "ongoing genocide and crimes against humanity" by the Chinese government. US officials have said that a diplomatic boycott strikes the right balance between punishing Beijing for its atrocious human rights record and hurting American athletes who spend years training to compete at the top of their respective sports. President Jimmy Carter's decision to fully boycott the 1980 Moscow games <a href="https://www.washingtonpost.com/graphics/2020/sports/1980-usa-olympic-boycott-team-carter/">remains deeply controversial.</a>

India joins Olympic diplomatic boycott after Chinese solider injured in a deadly fight with Indian troops participates in torch relay

<ul><li><keyword id="215177" type="General" weightage="100" keywordseo="vivo" source="Orion">Vivo</keyword> has allegedly transferred ₹62,476 crore to its parent company in China, in addition to being caught with 2 kilo gold bars in one of its offices.</li><li>The Enforcement Directorate (ED) has claimed that Vivo remitted the amount to avoid paying taxes in India.</li><li>The financial watchdog has blocked over a hundred bank accounts of the company.</li></ul>Chinese smartphone maker Vivo is currently in hot waters with the Enforcement Directorate (ED) in India after the financial watchdog accused the company and its associates in India of violating the Prevention of Money Laundering Act (PMLA). The ED has <a href="https://www.businessinsider.in/tech/enterprise/news/ed-has-reportedly-raided-44-locations-of-vivo-and-related-firms-across-the-country/articleshow/92672031.cms">conducted raids</a> across 44 premises of Vivo and its associates in Uttar Pradesh, Bihar, Madhya Pradesh, Punjab, Haryana, and several other states across the country. The ED has accused Vivo of remitting nearly <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">$8 billion</a> to China. Here’s everything that you need to know about the allegations against Vivo. <cmsannotation type="cmsannotation" annotationid="Vivo has reportedly sent ₹62,476 crore to China to evade taxes" comment="subhead" text="Vivo has reportedly sent ₹62,476 crore to China to evade taxes">Vivo has reportedly sent ₹62,476 crore to China to <keyword id="14399574" type="General" weightage="20" keywordseo="evade-taxes" source="Orion">evade taxes</keyword></cmsannotation> According to a <a href="https://twitter.com/PTI_News/status/1545016847669415936">report</a> by PTI, the ED has claimed that Vivo has remitted ₹62,476 crore, which is around 50% of its revenue over a five-year period to its parent company in China to avoid paying taxes. "The agency is investigating why Vivo India declared profit as expenditure in its balance sheet and transferred substantial sums of money to China," an official familiar with the matter told <a href="https://www.businesstoday.in/technology/news/story/exclusive-ed-probes-rs-62000-cr-fund-transfer-to-vivo-indias-chinese-parent-340713-2022-07-07">Business Today</a>. The money laundering case against Vivo was filed by the agency after taking cognizance of an FIR filed by the Economic Offenses Wing of the Delhi Police against a Vivo distributor based in Jammu and Kashmir. The report has claimed that Chinese shareholders of the company have used forged identity documents. The ED has claimed that the identity was forged to launder money using shell companies and “proceeds of the crime” have been sent to China and other businesses to bypass Indian rules. <cmsannotation type="cmsannotation" annotationid="Two directors flee the country" comment="subhead" text="Two directors flee the country">Two directors flee the country</cmsannotation> A <a href="https://www.businessinsider.in/business/news/vivo-ed-raids-two-chinese-directors-of-a-related-company-flee/articleshow/92714054.cms">report</a> has also revealed that two Chinese directors of a company related to Vivo fled India after the ED raids. The directors were part of Solan, a Himachal Pradesh-based company that was associated with Vivo. The agency has claimed that the Chinese nationals were made directors of the company using forged documents. <cmsannotation type="cmsannotation" annotationid="India blocks over a hundred accounts linked to Vivo" comment="subhead" text="India blocks over a hundred accounts linked to Vivo">India blocks over a hundred accounts linked to Vivo</cmsannotation> As part of its investigation into money laundering violations, the ED has <a href="https://timesofindia.indiatimes.com/business/india-business/india-blocks-119-accounts-linked-to-chinas-vivo-in-money-laundering-probe/articleshow/92729778.cms">reportedly</a> blocked 119 bank accounts linked to Vivo. The accounts reportedly have over ₹465 crore. The agency has also seized ₹73 lakh in cash and 2kg gold. <cmsannotation type="cmsannotation" annotationid="China calls for a “fair and non-discriminatory business environment”" comment="subhead" text="China calls for a “fair and non-discriminatory business environment”">China calls for a “fair and non-discriminatory business environment”</cmsannotation> After the ED raided Vivo and its associates, a spokesperson from the Chinese embassy <a href="https://www.businessinsider.in/policy/economy/news/china-unhappy-with-vivo-raids-says-frequent-probes-chill-investor-confidence/articleshow/92715136.cms">called</a> for a “fair and non-discriminatory business environment” for Chinese firms in the country. "The Chinese government has always asked Chinese companies to comply with local laws and regulations in their overseas operations and will firmly support Chinese companies to maintain their legitimate rights and interests," Wang Xiaojian counselor and spokesperson, Chinese Embassy in India said in a statement. "The Indian side should act in line with laws and regulations and provide a fair and non-discriminatory business environment for Chinese firms," Xiaojian added. <cmsannotation type="cmsannotation" annotationid="India hits back, says Vivo needs to follow the law of the land" comment="subhead" text="India hits back, says Vivo needs to follow the law of the land">India hits back, says Vivo needs to follow the law of the land</cmsannotation> The Indian side has also hit back after the Chinese spokesperson called upon India to provide a non-discriminatory business environment. "Companies that operate here need to follow the law of the land. Our legal authorities are taking steps as per the law of the land. I don't see the case to make comments as such on it," Arindam Bagchi, spokesperson, ministry of external affairs said in a media briefing. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/chinese-smartphone-maker-huawei-comes-under-the-it-departments-scanner-over-tax-evasion/articleshow/92739828.cms">Chinese smartphone maker Huawei comes under the IT department’s scanner over tax evasion</a> <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged illegal remittance by Xiaomi India were to the Qualcomm Group</a> <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">Vivo reportedly transferred nearly $8 billion to its parent company in China</a>

Vivo's offices caught with 2 kilo gold bars after sending ₹62,000 crore back to China – all you need to know on the ED probe

<ul><li>The <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword>’s (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>) forecast shows that rising prices in India are not going away soon.</li><li>This could undermine the very promise of keeping inflation at bay, made by the Bharatiya Janata Party (<keyword id="14666" type="COMPANY" weightage="20" keywordseo="BJP">BJP</keyword>) in 2014 when Narendra Modi was elected into office.</li><li>The annual average inflation this year, including the RBI’s forecast for March, is set to cross 6% — outside the apex bank’s inflation target range.</li></ul>High inflation, in the country, was one of the <a href="https://www.businessinsider.in/narendra-modi-governments-10-economic-agendas-that-stood-out-in-presidents-speech/articleshow/36297454.cms">biggest propellers</a> for Narendra Modi to get elected to the Prime Minister’s office in 2014, as he used it as one of his election campaign slogans against the incumbent government. Seven years later he might be faced with the worst bout of price rise in his tenure, and it has come at the most inopportune time — during a pandemic. As in any developing economy, the people of India are very sensitive to inflation. The crash in global crude oil prices kept inflation checked in the early years of Modi. However, recent supply disruptions since the COVID-19 pandemic have led to some serious price rise, despite an economic slump. The <a href="https://www.businessinsider.in/india/news/diesel-price-rise-highest-in-delhi-by-36-paise-per-litre/articleshow/80892419.cms">recent rise in the price of fuel</a> has caused much unease even among the supporters of the current government led by the Bharatiya Janata Party (BJP). <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Months </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Price Inflation (CPI) expectation in February </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revised expectation in April </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January to March 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Under 5.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April to June 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.6 to 5.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July to October 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.6 to 5.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">October to December 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December to January 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.1% </td></tr></tbody></table>Source:RBI The average inflation for the financial year ending March 2021 was 6.69% and the pace of price rise may persist at nearly 5% in the coming 12 months as well. “Inflation expectations of urban households one year ahead showed a marginal increase over the three months ahead [quarterly] horizon according to the Reserve Bank’s March 2021 survey,” said Das. <div type="image" title="Copy of wipro share price(3)" msid="81946889" hostid="261" caption="&amp;lt;p&amp;gt;Average annual inflation in India from 2014 to 2021&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="The choice between doling out more money and keeping inflation in check" comment="subhead" text="The choice between doling out more money and keeping inflation in check">The choice between doling out more money and keeping inflation in check</cmsannotation> This is a catch-22 situation for the policymakers. On one hand, there is a need to stimulate the economy with more money and push it towards recovery from the damning blow of the pandemic. This increased money supply usually leads to inflation along with economic growth. But right now, inflation is already high and a meaningful economic recovery is yet to show. “The renewed jump in COVID-19 infections in certain parts of the country and the associated localised lockdowns could dampen the demand for contact-intensive services, restrain growth impulses and prolong the return to normalcy. In such an environment, continued policy support remains necessary,” said Das. <cmsannotation type="cmsannotation" annotationid="Consumer confidence is already low" comment="subhead" text="Consumer confidence is already low">Consumer confidence is already low</cmsannotation> While people wait for pandemic-related restrictions to ease and businesses wait for prospects to improve — or for employment opportunities to pop-up — the price rise has already started pinching their pockets. The RBI itself expects price of pulses⁠— like tur daal and urad daal— to remain expensive even as the price of cereals like rice and wheat to ease after the next harvest. Meanwhile, global crude oil prices ⁠— India relies on imports for over 80% of its oil needs ⁠— have repeatedly threaten to spiral out India’s comfort zone, and it, typically, fuels inflation in other products and services as well. The <keyword id="6374106" type="COMPANY" weightage="20" keywordseo="ministry-of-external-affairs">Ministry of External Affairs</keyword>, on April 2, made an appeal to the Organization of the Petroleum Exporting Countries (<keyword id="47969" type="COMPANY" weightage="20" keywordseo="Opec">OPEC</keyword>) to not restrict supply of crude oil. “Crude supply could be market determined rather than artificially managed,” <a href="https://theprint.in/india/india-pitches-for-easing-cuts-in-crude-oil-production-mea/633205/">said</a> <keyword id="6358274" type="COMPANY" weightage="20" keywordseo="MEA">MEA</keyword> spokesperson Arindam Bagchi. Within the country, both the RBI and the central government, are appealing to state governments to reduce duties on fuel like petrol and diesel before the consumers — and voters — become irreversibly irate. Given the slump in the economy and added expenses to manage a pandemic, it has become a tough decision to make. Prices of other commodities from iron ore and copper to aluminium, have also risen making a lot. This had made other products from steel to cars and other automobiles more expensive at a time when the demand is relatively tepid. <cmsannotation type="cmsannotation" annotationid="Testing times ahead for Team Modi" comment="subhead" text="Testing times ahead for Team Modi">Testing times ahead for Team Modi</cmsannotation> Yet, food and fuel prices are the ones that voters react to the most. The future of fuel prices is dependent on a variety of factors beyond the government’s control. For food prices, Governor Das’ hopes are pinned on a right amount of, and well distributed, rain from the southwest monsoon. But, as we all know, climate events aren’t as rare anymore. The next few months can be testing for policymakers to ensure that the populace, already frustrated by the ill-effects of the pandemic, does not get burdened by high prices before the economy improves. SEE ALSO: <a href="https://www.businessinsider.in/policy/news/rbi-has-increased-mobile-wallets-limit-with-2-lakh-and-need-full-kyc-also-for-mobile-wallets/articleshow/81946037.cms">You need to do full KYC for mobile wallets too – but you can store twice the amount of money</a>

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