Anti-AI is no advantage.

"India recorded a current account surplus of $7.1 billion (0.7% of GDP in the January-March quarter of FY26 supported by higher services exports and a rise in remittances from overseas Indians," but lower than the $13.7 billion, or 1.4% of GDP, in the same quarter of the last financial year. "However, for the full financial year 2025-26, the current account deficits widened to $25.2 billion, or 0.6% of GDP, from $22.9 billion, or 0.6% of GDP, in FY25." TOI. Excellent example of how percentages can be totally misleading. "One of the most consequential transformations of the Narendra Modi era," is that, "Over the past decade, Indian households have steadily shifted a portion of their savings from traditional assets such as bank deposits, gold and real estate into equity and mutual funds." Total market capitalization has risen from $1.14 trillion in 2013 to nearly $4.84 trillion currently." CNBC. Perhaps, people have been forced by financial repression as the interest income from bank savings and fixed deposits is clubbed with earnings and taxed at the applicable income tax rate. DBS. After the decrease in value of savings by inflation is factored in, the returns from investment in banks becomes almost zero. Can Indian markets go on rising to infinity? If not, what is the ceiling beyond which there are no returns? "India's equity market has come under severe bearish grip again," "As foreign institutional investors (FIIs) continue to dump Indian shares and the West Asia conflict escalates again, leading to higher crude oil prices, the D-Street has started to feel the heat again." TNIE. "For the last two years, the Indian stock market has been a growth ghost town," and "It is precisely because these market powerhouses are wounded that they have now become incredibly dangerous for bears, and possibly ripe for an explosive rally." msn.com. Is this a prediction based on logical market analysis or just hot air to induce people to keep investing in shares? The government taxes every purchase and sale of shares, called Securities Transaction Tax (STT), sale of mutual funds, and options and futures transactions. cleartax.in. As a result, the contribution of STT to total income tax collections has risen from 3.3% in 2021-22 to 5.4% in 2024-25. And so, "Despite implementing tax cuts in the latest Budget, the Centre estimates a robust 14.4% growth in income tax collections in 2025-26, thanks to an unexpected boost from STT revenues." Mint. How are Indian markets going to start rising again? Apparently, "As a violent tech meltdown triggers an unwinding of the global artificial intelligence trade in America's Nasdaq, South Korea and Taiwan, analysts say, India could emerge as the ultimate 'anti-AI' trade, positioning Dalal Street to become a major relative beneficiary and an oasis of peace in a fracturing financial landscape." "FIIs have aggressively abandoned India," and "This relentless exodus was directly engineered by an explosive chip rally in Taiwan and South Korea, which pushed their market capitalization above India's." TNIE. On the other hand, "Indian IT majors, TCS, Infosys and others saw their stocks decline as fears of AI-led workforce disruptions threatened the working model of this sector." The compound annual growth rate CAGR of earnings of Indian companies has collapsed from over 20% to just 5-6%. TOI. Will a collapse of other markets divert FIIs to India? If FIIs lose money they may cut down on new investments and prefer developed economies as they switch to a risk-off mode. Indian markets could fall further as FIIs repatriate money to pay home investors. Wishing ill of others because India has no AI or chip industry is nasty. Could boomerang.       

Dead by NEET.

At the Cockroach Janta Party's (CJP) protest at Jantar Mantar, a man said, "He had come to support his girlfriend," and "had nothing to do with politics, viral hashtags or social media trends." He said he came on her behalf as she was unable to attend in person because she had been struggling with depression since the controversy with the NEET paper. msn.com. NEET stands for the National Eligibility cum Entrance Test, conducted by the National Testing Agency for admission into undergraduate medical programs. wikipedia. 2.27 million youngsters appeared for this year's exam on 3 May 2026. The exam was canceled on 12 May 2026 because the question paper had been leaked. wikipedia. 18-year old Akanksha Chaturvedi committed suicide over the canceled exam. TOI. Apparently, a couple of people at the protest were ignorant of the relevance of the term 'Chicken Neck', relating to India's borders with neighboring countries. It became a talking point when "Union Minister Kiran Rijiju shared the clip on his X account, calling for greater awareness about the county's geography and national issues." ET. 'Chicken Neck' is a narrow corridor in West Bengal, leading to India's northeastern states, bordered by Bangladesh, Nepal and Bhutan. wikipedia. Retiring after over 50 years of medical practice I can assure Hon'ble Minister that ignorance of India's geography is of no relevance to becoming an extremely erudite and competent doctor. Leaking questions for money is. With an enormous population and limited opportunities the temptation to game the system, for those with power and money, must be impossible to resist. The most infamous was the Vyapam scam, in which questions for exams to select medical admissions and government employees, were leaked to candidates who paid. At least 40 people, including an erstwhile Governor's son, died suspiciously. Unofficially, more than 100 were eliminated. wikipedia. Perhaps even worse than corruption is the callous incompetence that puts our children's future in jeopardy. "Days after the government-run Central Board of Secondary School Education (CBSE) announced its Grade 12 - equivalent to UK's A level - results, dozens of students complained about errors in their marks allegedly linked to a newly-launched digital evaluation system," "Called On-Screen Marking (OSM), the system works by scanning physical copies of answer sheets and uploading them on an online portal for teachers to evaluate." Errors included mistakes in manual evaluation, "pages were missing, answers were marked wrongly, or the digital copies did not match the original paper answer sheets." Because of delays in re-evaluation by CBSE many students are in danger of missing scholarships to foreign universities and admissions to the Indian Institute of Technology (IIT) which require at least 75% marks in CBSE Class 12 exam. TOI. Why wasn't the system evaluated thoroughly before ruining hundreds of lives? Because there is no accountability. CJP chief Abhijit Dipke demanded the resignation of Education Minister Dharmendra Pradhan and said that the Hindu-Muslim agenda (BJP's election winning strategy) for the last 12 years cannot create jobs. HT. So will the Hon'ble minister take responsibility? Hell, no. Indian ministers have perks which would outclass those of a US president. Sharam and Izzat be damned. Recently, the Chief Justice of India (CJI), Surya Kant labeled "people entering professions using 'fake and bogus degrees' as "cockroaches". TOI. Careful. The CEO might think it is aimed at him.  As "the CEO with the invisible degree remains secure," even if "The degree remains invisible yet apparently protective, like a talisman that wards off inquiry." Judges have repeatedly protected the secrecy. DH. If the top certificate is fake, others down the line will follow. That's why they are followers.        

The US has Musk + 14.

"Euro zone private sector activity shrank at the fastest rate in 18 months in May as waning demand for goods and services - a key gauge of economic health - dragged output lower for a second month while cost pressures hit their highest level in more than three years, a survey showed." "The S&P Global Eurozone composite PMI Output Index fell to 48.5 in May from April's 48.8." Any number below 50 indicates contraction. "The deterioration was concentrated in the bloc's two largest economies, Germany and France." Reuters. Three years ago, the President of the European Commission delivered an address in which she "spoke at length about China's distorting subsidies, unfair competition, coercive practices, growing imbalances, forced technology transfers and monopoly of critical raw materials, all of which, she said, required a brand-new approach: derisking." EU member states did nothing. ca.news. European stocks have fallen after the start of the Iran conflict. Because, while the supply shock has been negative for infrastructure and defense, "Technology stocks account for roughly 8% of the Stoxx Europe 600, compared with 42% of the S&P 500. Semiconductors in particular make only 3.5% of the European benchmark versus about 18% of the S&P 500 and the MSCI Asia Pacific." msn.com. In the United Kingdom, "Unemployment is close to a post-pandemic high, inflation is accelerating, living standards have stalled and growth is expected to slow to the weakest in three years." Because, the Labour government has increased minimum wages while increasing payroll tax, causing businesses to cut employee numbers. In the US, "inflation increased at its fastest pace in three years in April," with personal consumption expenditures price index (PCE) rising to 3.8% in April from 3.5% in March, due to higher energy prices. ET. "The economy added 172,000 jobs in May, shattering expectations, new data from the Bureau of Labor Statistics showed." "Unemployment held steady at 4.3%, while employment gains topped 100,000 for the third consecutive month," as "March's payroll gains were revised upwards by 29,000 to 214,000, while April's tally was revised higher by 64,000 to 179,000 jobs added." CNN. The US is also changing internally as, "Americans are voting with their feet, leaving high-tax blue states for lower-cost, Republican-led states and reshaping the nation's economic and political map, according to the Census Bureau data. As states battle for residents and businesses, low-tax red states are attracting jobs, investment and population growth." Fox. Creating anticipation and excitement, "In a surprise move ahead of its investor roadshow, Elon Musk's SpaceX plans to fix its IPO price at $135 per share to raise a record-setting $75 billion,"valuing the company at $1.75 trillion. "A fixed price ahead of presentations to investors and book- building is highly unusual ." "SpaceX has drawn investor demand of about $150 billion for its IPO, about double the $75 billion it is seeking to raise, said two people familiar with the matter." Demand may seem modest, "but bankers and investors said that demand is impressive for the SpaceX offering since it is the largest IPO ever." Reuters. The reason why the US is thriving while Europe in not is because, "New claims that the United States has recovered remains of four separate species of alien life are sending shockwaves throughout the UFO disclosure movement," as "Dr Hal Puthoff , a CIA funded researcher and former Advanced Aerospace Weapon System Applications Program advisor, announced the new revelation." Fox. No wonder, the US is leading in AI and Musk is preparing to conquer Mars. Musk is not an alien. He has 14 children with four different women. instyle.com. Proven by four women. QED.

For a few dollars more.

"In unanimous decision, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) yesterday kept the repo rate unchanged at 5.25% for the third consecutive time." "The RBI projected GDP growth for FY27 at 6.6%, down from the earlier 6.9%." Consumer price (CPI) inflation is expected to be 5.1%, 50 basis points (bps) higher than earlier estimates and core inflation is expected at 4.7%. DH. "India's economic growth accelerated to 7.7% in 2025-26 from 7.1% a year earlier," while  "The economy expanded 7.8% in the January-March quarter of FY26, compared with 8% in the previous quarter." "For the full year, inflation-adjusted (real) GDP rose to Rs 323.12 trillion," while, "In nominal terms, which include the impact of inflation, GDP is estimated to have expanded 8.9% to 346.36 trillion." ET. Nominal GDP increases in tandem with CPI inflation and government taxes are based on nominal GDP. CPI inflation came in at 3.48% in April 2026 (pib.gov.in) and "India's gross Goods and Services Tax (GST) collections moderated to Rs 1.94 trillion in May 2026 from a record Rs 2.42 trillion in April (ET). Compared to the year 2000, the price of petrol has risen nearly 400%, LPG (cooking gas) cylinder by nearly 600% and milk by more than 500%. India Today. Average private school fees in Delhi was Rs 25,000 in 2000, rose to Rs 65,000 in 2008 (TOI and now range from Rs 1,80,000 in budget schools (over 700%) to Rs 1.50 million in premium schools (6000%) (tutopia.com). GDP per capita was $442.75 in 2000 (macrotrends.net) and has risen to $2,813 in 2026 (over 600%) (wikipedia). If GDP per capita is growing at about the same rate as prices then Indians have not become wealthier between 2000 and 2026. The Gini coefficient, in which zero indicates perfect equality while 1 represents maximum inequality, is 0.74 for both India and the US, but "while inequality fell significantly in the US over 2019-2024, in India it actually rose over the same period." The Wire. To bring in more foreign exchange and support the rupee, "India said yesterday it would exempt foreign institutional investors and the Bank for International Settlements from capital gains tax on receipts arising from interest or sale of government securities." "Foreign investors are subject to a 12.5% long-term capital gains tax on listed shares and bonds held for more than 12 months, and a 20% withholding tax on interest earned from government bonds." "Bond markets and the rupee were little changed after the announcement, which had been expected." Reuters. Abolishing taxes on gains of foreign investors could result in a fall in revenue and a rise in fiscal deficit and increased government borrowing. That would result in a fall in bond prices and a rise in yields. That may be one reason for bonds and the rupee seeing little change. To reduce the pressure, the RBI announced a "wider access for foreign investors to government bonds, easier investment rules for overseas Indians and foreign residents, and incentives for companies and banks to raise funds from abroad." ET. While the Indian government and the RBI are looking at the Iran conflict and supplies of oil and gas the US could cause a big headache. Nonfarm Payrolls (NFP) report showed "The US economy added 175K jobs in May, well above expectations of 85K. Meanwhile, April's payroll figures were revised higher to 179K from 115K, while the Unemployment Rate held steady at 4.3%." fxstreet.com. A hike in US interest rate could see a selloff in Indian bonds as investors would find US bonds more attractive. Taking inflation into account, ordinary Indians are not more prosperous in 2026 than they were in 2000, could be slightly worse off. The government and the RBI scrambling to stay afloat. The US could provide the proverbial straw.      

Don't wait for the gold option.

"The Reserve Bank of India (RBI)...denied a Bloomberg News report that said the central bank likely sold gold reserves worth roughly $12 billion in the two weeks through May 22. The RBI said in a statement its physical stock of the precious metal remains unchanged at 880.52 tonnes." "The country's foreign exchange reserves fell to a more than one-year low of $681.4 billion in the week ended May 22, from $688.89 billion a week earlier." "The $7.5 billion decline was largely due to a $4.5 billion fall in the value of the central bank's gold holdings, week-on-week." Reuters. Since January 2025, there was a "worrying trend of slowing inflows on the capital account side, particularly the sharp deceleration in net FDI - this was making the exchange rate stabilisation harder for the RBI despite massive interventions in both spot an forward markets." "But the central bank isn't rushing through any capital account measure - it feels the economy's fundamentals are strong, the rupee is not overvalued and Fx reserves are enough to contain short term valoatility. And raising interest rate is the Monetary Policy Committee's call." FE. Economists at HSBC expect India's balance of payments deficit to widen to $65 billion in 2026-27 from an estimated $35 billion in 2025-26 due to higher oil prices and persistent foreign selling of Indian stocks. In response, "India has raised import tariffs on gold and silver to 15% from 6% in May." Reuters. Also, Prime Minister Narendra Modi urged people to work from home and use public transport to save fuel, postpone purchase of gold, refrain from foreign travel and consume less cooking oil. Reuters. "India's central bank faces one of the toughest interest rate calls in recent memory this week, as the Middle East energy shock, a slumping currency and a weak monsoon risk both crimping growth and stoking inflation." However, "Nearly 80% of 56 economists in a Reuters poll expect the central bank to keep the repo rate unchanged at 5.25%." ET. During the tenure of the former Governor of the RBI Shaktikanta Das, from 12 December 2018 to 10 December 2024 (wikipedia), consumer price index (CPI) inflation surged above the government mandate of 4% (India Today), to well over 6% from December 2019, gradually falling to around 5% from August 2023 (rateinflation,com). CPI inflation fell to its lowest level of 1.17% in December 2025. "For much of the final two years of Das' tenure, the central bank appeared to be winning one of its toughest battles." "By the time Das left office, policymakers were once again discussing growth, liquidity and rate cuts rather than emergency inflation-fighting measures." ET. In fact, Mr Das did nothing from May 2020 to May 2022, holding the interest rate at 4%, and raising it by 40 basis points (bps) from 4% to 4.40% in an emergency meeting of the MPC, just ahead of the US Federal Reserve meeting. Forbes. The rate of inflation appeared to be falling because of base effect and weaker consumer spending. CPI inflation increased to 3.48% in April 2026 from 2.74% in January, while wholesale prices surged by 8.3%, "fuel and power inflation has surged nearly 25% and food inflation has started edging up again. Since costly fuel will increase transport prices, CPI inflation will follow. The RBI is expected to keep its interest rate unchanged at 5.25% at its ongoing meeting. But, "Cleveland Federal Reserve President Beth Hammack said...the US central bank may need to raise interest rates soon should already-high inflation pressures continue to mount." Reuters. At the moment the US interest rate is at 3.50%-3.75%. Raising it by 25 bps to 3.75%-4% will reduce the spread with the RBI's rate to just 125 bps which may see renewed selling by foreign funds. The rupee could plunge and a weaker rupee will increase the price of imports and renew a surge in inflation. The RBI should concentrate on inflation and the rupee, since both are linked, and leave economic growth to the government. Else, it will have to sell its gold. Indians sell gold only in a dire emergency. RBI shouldn't wait that long.   

Waiting for good old days.

India's 16th Census - the eighth since independence in 1947 - will see three million officials asking 33 questions to over a billion Indians over one year. "The last census was held in 2011, with the 2021 round delayed by the pandemic and later pushed back due to administrative and electoral scheduling - the first time the decennial exercise missed its schedule." BBC. In Rajasthan, "With the ongoing census exercise throwing up data that differ from government records, particularly on issues such as open defecation and household access to electricity and cooking gas connections, enumerators say they have been asked by senior officials to revisit households and correct the data 'discrepancies'. Several enumerators, mostly government schoolteachers and anganwadi workers, had taken to social media to report the discrepancies and to flag the glaring inequality and poverty on the ground. Some even complained that residents are unwilling to share information, fearing cancellation of government benefits." The Hindu. Paint a rosy picture, or else! Rajasthan has an overwhelming BJP majority in the assembly. wikipedia. An exhibition, curated by Prof Vikas Kumar of Azim Premji University, shows how the country's vast postal system was used to build trust in people. "In the run-up to the 1951 census - the first after independence - the government used a bilingual pictorial postmark" showing "a family of three framed by the words 'Census of India' in Hindi and English." BBC. What a difference. Trust in 1951, while now people hiding facts to protect handouts and enumerators told to cook up data to polish Dear Leader's halo. "Teachers and principals in Delhi government schools have raised concerns over a clash between remedial classes scheduled during the summers break and the upcoming Census-2027 house-listing exercise, saying the overlapping duties" are "technically infeasible". TNIE. "Delhi guest teachers face termination threats for refusing census enumerations duty, citing low compensation (Rs 25,000 for two phases), lack of clarity on expenses and expiring temporary contacts. A DM (District Magistrate) recommended dismissing 142 teachers, calling it 'gross negligence'." The Print. Heil Obersturmfuhrer. The Census will continue into next year. What use are schools without teachers? "For many students in Delhi government schools, completing Class 10 is now bringing an unexpected challenge. Several students and parents in northeast and east Delhi claim that English-medium sections are either being discontinued or merged with Hindi-medium classes in Classes 11 and 12." ET. Classes 11 and 12 are pre-university, indispensable for future careers. "Prime Minister Narendra Modi's recent advice to shift towards online classes as a strategic response to the global energy crisis reveals a significant conflict between macroeconomic needs and educational fairness." "Data indicate a backlog of over 7,22,000 vacant teaching positions at the elementary level and over 1,24,000 at the secondary level." Dailyhunt. The rest of the teachers may be on Census duty. Since children are not learning anything anyway, might as well save petrol. Brilliant. Those children, lucky enough to have supportive parents and teachers, have to go through a broken examination system. "Every year between March and August, India experiences two kinds of heat - one seasonal, the other institutional. The latter is the exam season: a prolonged cycle of tests, results, re-evaluations, paper leaks and admission deadlines that drains students and families financially, emotionally, and psychologically. Unlike a heatwave, this one is entirely man-made." DH. It wasn't like this before 2014, when the BJP captured India. Mr Modi coined the slogan "Achche Din Aane Waale Hain" (good days are about to come) before the general election in 2014. wikipedia. Who knew it would be a destruction of our future. Pre-2014 seems much better in hindsight. Real good old days.    

A consequence of too little spreads.

India's "Exports rose by 13.78% to USD 43.56 billion in April, the highest monthly outbound shipments in more than four years, driven by petroleum products amid a surge in crude oil prices, but the trade deficit widened to a three-month high of USD 28.38 billion due to an uptick in imports." ET. Which means a current account deficit (CAD) instead of a surplus. "Foreign investors (FPIs) continued to pare their exposure in Indian equities, withdrawing Rs 329.63 billion in May." "In 2026 so far, the total outflow by FPIs from the equity market has reached just under Rs 2.3 trillion, which is higher than the nearly Rs 1.7 trillion pulled out during the entire 2025." TOI. "The aggregate net investments by FPIs in local shares stood at Rs 7.3 trillion as on June 1," so that the value of India's stock market has fallen behind Taiwan and South Korea. ET. FPIs have been selling Indian government bonds as well. FPIs are "net sellers of $836 million in the general debt route and $490 million in the voluntary retention route," but "net buyers of $$48 million in the passive fully accessible route." The reason for the selloff of Indian bonds is that "India's benchmark 10-year government bond yields 7.004%, compared  with 4.435% on the US 10-year Treasury leaving a spread of about 256 basis points (bps)" Historically, it has been above 300 points, Mint. The fall in the rupee against the dollar has added to the FPI decision to sell. The reason is that the Reserve Bank of India (RBI) has chosen to reduce the difference between its interest rate and that of the US. The US Federal Reserve cut its Funds rate down to 0% to 0.25% on 1 March 2020 (Forbes), while the RBI cut its interest rate to 4% on 23 May 2020 (The Hindu) which gave a spread of 400 bps. The US Fed started raising rates on 17 March 2022, reaching a height of 5.25% to 5.50%, while the RBI started hiking its interest rate on 5 May 2022 (TOI), to its highest level of 6.5% in February 2023 (Bajaj). Which means that the difference with the US fell from 400 bps to just 100 bps. The Fed started reducing its Funds rate in September 2024 and has stopped at 3.50% to 3.75% in December 2025, while the RBI cut its interest rate by a cumulative 125 bps to 5.25% (BT). The difference with the US is 125 basis points. Foreign investors are clearly not impressed. "India is trying to defend the rupee and the stock market simultaneously - an expensive ambition for a country running persistent current account and lately, balance-of-payments deficits, especially when much of it forex reserves are rented capital," wrote Shankar Sharma. While China earns surpluses, "Our dollars largely come from: FPIs, foreign direct investment (FDI), Borrowings and overseas remittances." Domestic investors are supporting the stock market and helping FPIs exit at higher prices. Share prices should be allowed to fall, says Sharma. "Countries survive stock market crashes. But countries routinely go bankrupt because of currency crashes." The RBI is also helping FPIs  by constantly selling dollars to support the rupee. A stronger rupee buys more dollars for FPIs. Yesterday, "The rupee ended at 95.2650 per dollar." "Traders said that the losses would have been steeper had it not been for the RBI's dollar-selling interventions, which have continued in almost every session since the rupee hit a record low of 96.96 per dollar in mid-May." Reuters. According to Bloomberg Economics, the RBI may have sold $12 billion worth of gold to buy foreign exchange. ET. The RBI is effectively transferring our gold and forex reserves to foreign investors. In doing so, by some magic of math, the RBI made so much profit that it transferred Rs 2.87 trillion to the Central government. TIE. If the RBI makes profits from transferring dollars to foreigners, it should transfer some dollars to Indian citizens as well. Indians will become wealthier, the RBI will augment its profits and the government will get higher transfers to cover its fiscal deficit. A win-win-win, if ever there was one. Magic. 

Perjury is blatant contempt.

"What began as one student's viral complaint about a mismatch between the physical and digital copies of his Grade 12 physics has snowballed into a major controversy."  "Called on-screen marking system (OSM), the system works by scanning physical copies of answer-sheets and uploading them on an online portal for teachers to evaluate. A software then calculates total marks in each exam." BBC. "The Central Board of Secondary Education (CBSE) has admitted to discrepancies in the evaluation of Class 12 answer sheets and said marks will be revised in two cases after a student's viral social media post exposed an apparent Physics answer sheets mix-up during the re-evaluation process." India Today. Where there are two cases there could be two thousand or even two million. If it wasn't for social media they might have covered up their goof-up. No wonder, India has one of the highest internet censorship in the world. wikipedia. Class 12 results are most important because admissions to prestigious colleges may depend on them and children's lives, their careers and lifetime earnings damaged permanently. "When Vedant Srivastava, a Class 12 student from Delhi, posted about his CBSE Physics paper mix-up on X, he probably did not expect a senior journalist to accuse him of being Pakistani." When Ashok Shrivastav, anchor of Doordarshan News saw Vedant's post on X was from South Asia, he remarked sarcastically, "Did Pakistanis also appear for CBSE exams.?" He later apologized. The Wire. Vedant was abused as 'anti-national Soros agent' and a 'Pakistani' online (TOI), probably by the lobotomized supporters of the BJP. In May, "the National Eligibility Entrance Test (Undergraduate), known as NEET-UG - has been at the center of a controversy this year following allegations that the question paper was leaked." Following which, "the National Testing Agency (NTA), which conducts the exam, canceled the test that took place on 3 May." BBC. Months and years of hard preparation wasted. All Pakistanis? Two days ago, "At least six people were killed and eight others injured after a four-storey building, housing a mess and paying guest accommodation, collapsed in South Delhi's Saidulajab area near Saket Metro Station." HT. Must be Pakistani for dying. Apparently, "The Delhi Police had written to the Municipal Corporation of Delhi (MCD) on two occasions in March about ongoing illegal construction atop the four-storey building near Saket Metro station that collapsed." TIE. When local resident Sakir Ahmed filed a case in Delhi High Court against the illegal construction, "MCD's counsel Roshan Lal Goel submitted that 'no construction whatsoever is going on in the subject property'." The Print. It is probably only in India that lawyers are able to get away with blatant perjury in courts without any punishment. At the very least, judges should react with severity to this egregious contempt of court. Illegal construction is rampant all over Delhi, a lucrative source of bribes. Speaking in Kerala, Vice President CP Radhakrishnan asked for "constructive journalism" to "strengthen public confidence" and warned the media that "Positive activities should be reported well. Only then will youngsters receive the right information. Otherwise, they will lose interest and end up following the 'cockroach'." HT. In short, brainwash youngsters and create a nation of deluded Bhakts (DH) who will applaud on cue like robots while working in subsistence level gig jobs after years in higher education. "Nearly 40% of graduates aged 15-25 - and 20% of those aged 25-29 - are unemployed." BBC. How should "constructive journalism" report leaked question papers destroying lives and collapsing buildings taking lives to "strengthen public confidence"? Call them Pakistanis and Soros agents. Creating a nation of imbeciles. That sure will "strengthen public confidence". Confidently brainless.

An excess of money.

"A weaker rupee, often seen as a sign of economic stress, may be emerging as an unexpected advantage for India's exporters, according to the government's economic review. But the Finance Ministry has cautioned that the benefit will materialise only if global demand remains resilient and inflation stays under control." ET. The latest annual report from the Reserve Bank of India (RBI) says that, "On the one hand, the central bank sees strong domestic demand, healthy banks and continued economic resilience. On the other, it flags concerns over slowing growth, rising global uncertainty, inflation risks and geopolitical tensions that could affect India in the months ahead." India Today. "On May 29, foreign portfolio investors (FPIs) net sold Rs 206.37 billion worth of Indian equities, their largest single one-day withdrawal in years, according to NSE provisional data." "Domestic institutional investors cushioned some of the blows, buying Rs 162.60-Rs 167.64 billion, but could not prevent the sharp fall." MSN. "Foreign investors continued to pare their exposure to Indian equities, withdrawing Rs 329.63 billion in May due to weak earnings growth, rupee depreciation and more attractive opportunities in other markets. With this total outflow by FPIs  from the equity market has reached Rs 2.25 trillion in 2026, which is higher than the Rs 1.66 trillion pulled out during the entire 2025." ET. If rupee depreciation is one of the factors for the selling, FPIs repatriating in foreign exchange weakens the rupee even further. Among its many functions, one of the most important function of the RBI is maintaining the value of the rupee. The RBI does that by varying the interest rate, buying or selling foreign exchange, mainly dollars, buying gold and open market operations. Kunvarji Wealth Solutions. Most importantly, RBI has the power to print money. "The RBI prints and manages currency in India." While, "The Indian government regulates the denominations of currency in circulation." Investopedia. "Last week the RBI transferred a record dividend of Rs 2.87 trillion to the Centre for 2025-26." "In 2025-26, the RBI's income was a record Rs 4.28 trillion, up 26% the previous year. Of this, it spent about a third, or Rs 1.41 trillion." TIE. To infuse liquidity into the system, the RBI bought Rs 9 trillion worth of government bonds from banks. Strangely, it shows interest from government bonds at Rs 1.08 trillion as income but does not show the purchasing price of Rs 9 trillion as expenditure. "The RBI's balance sheet swelled to Rs 91.97 trillion at the end of March 2026, up 20.6% year-on-year, due to a rise in domestic investments as well as gold and foreign investments, according to the central bank's annual report." newsonair.gov.in. Since the RBI has no manufacturing or services business, cannot create foreign exchange and does not own a gold mine, it must be buying its assets with Indian Rupees. In India, "On one side is its gleaming showcase, UPI (Unified Payments Interface)  (wikipedia), with 21.7 billion transactions in January 2026 worth Rs 28.33 trillion in value. On the other side is the system of physical cash. Currency in circulation (CIC) hit Rs 40 trillion, rising 11% year-on-year," wrote Ajit Ranade. "The apparent paradox of the usage of both rising is a warning that we are settling into a hybrid equilibrium: digital for convenience, cash for avoidance or for those excluded from UPI's digital infrastructure." UPI is linked to bank accounts, which means a phenomenal increase in money supply "which includes all cash and liquid assets in a nation's economy on a certain date." Investopedia. When there is an excess of money its value will fall and inflation will follow. Is the RBI responsible? Can someone explain. Unless they are too terrified.          

Reveal. From abroad.

"Indian politics has acquired an unusual mascot - the cockroach. A satirical collective that takes inspiration from the insect - stubborn, reviled and considered indestructible - has attracted millions of online followers and mainstream media attention in less than a week, making even veteran politicians sit up and take notice." BBC. The lobotomized Bhakts (devotees) of Prime Minister Narendra Modi, who live in a delusional world (DH), issued death threats against Abhijit Dipke, founder of the Cockroach Janta Party (CJP). "Listen, you'll get money. Shut this account down, otherwise join the BJP. Otherwise, they'll even get you killed in America." TOI. While this message has been interpreted as hostile, it could actually be from a well-wisher, hinting at the shooting of Hardeep Singh Nijjar in Canada on 18 June 2023, which was blamed on Indian government agents by the then Prime Minister of Canada, Justin Trudeau. wikipedia. Following that, in February 2026, Indian citizen Nikhil Gupta confessed to a murder-for-hire plot against US citizen Gurpatwant Singh Pannun in a US court. justice.gov. There is an FBI warrant for Research and Analysis Wing (RAW) officer Vikash Yadav, who is accused of recruiting and controlling Gupta. fbi.gov. Strangely, the Indian government has been silent on Nikhil Gupta's confession and the involvement of a RAW officer. However, shortly after Gupta's arrest, Vikash Yadav was charged with kidnapping and robbing a cafe owner of his watch and some money in Delhi (NDTV) and has not been mentioned since. So rattled is the BJP that "CJP founder Dipke...moved the Delhi High Court challenging the Centre over the blocking of the group's social media accounts, days after the satirical online movement went viral." TOI. If so many people log on to CJP who will read Dear Leader's blather? The CJP garnered 22 million followers in just a week, more than twice the BJP's 8.9 million. "At the heart of this current festering, and the moment that the people's internet has seized upon, is the chasmic discrepancy also between the words of the Prime Minister, and his actions. He left on this frenetic foreign tour the day after announcing austerity measures for the citizens of the country, including recommendations not to travel abroad for vacations," wrote Shayoni Mitra. Mr Modi has never held a press conference since being elected prime minister in 2014. Recently, he walked away without answering journalist Helen Lyng's question while on his visit to Norway. Ironically, Lyng asked why he doesn't take questions. BBC. "The attempt to hide tele-prompters placed in front of Modi is a cunning ploy to create false impressions." During his tour, "photographs showed a tele-prompter placed in front of him in Italy for making a short prepared statement. But the image released officially had erased the tele-prompter from the photograph." "Many videos of formal meetings with heads of state had audio muted. Some videos with audio somehow got released and people started talking about Modi's intellectual limitations. Some even sarcastically  remarked about Modi's artificial and unnecessary laughter." The Indian media has strenuously protected Mr Modi, wrote Sanjay K Jha. Meanwhile, US Secretary of War Pete Hegseth credited President Donald Trump for brokering peace between India and Pakistan, while speaking at the Shangri-La Dialogue in Singapore. ET. Operation Sindoor, from 7-10 May 2025 (pib.gov.in), just refuses to go away. "In his press briefing on the morning of May 10, Foreign Secretary Vikram Misri indicated that India was in a position of dominance. Hours later on the same day India had capitulated and agreed to a ceasefire." The Diplomat. Trump keeps interfering with attempts to spin it into a huge victory. A blinkered media, selfish party leaders and business cronies are keeping Indians ignorant of how Mr Modi is damaging the nation. The truth can be disclosed. But only by someone living abroad. Like CJP.