Top Events of the Day: PM Modi's roadshow in Bhubaneswar, CPI inflation & IIP data, FOMC meet announcement, and more

Top Events of the Day: Prime Minister Narendra Modi is set to hold a mega roadshow in Bhubaneswar, Odisha, on June 12. This event coincides with the rescheduled swearing-in ceremony of Odisha's new Chief Minister, which will now take place on the same day, following the BJP's recent electoral victory. In Andhra Pradesh, Telugu Desam Party Chief Nara Chandrababu Naidu will be sworn in Chief Minister. Prime Minister Narendra Modi, Union Home Minister Amit Shah, and BJP chief JP Nadda are among several other leaders who are expected to attend the swearing-in ceremony.
Congress leader Rahul Gandhi is scheduled to visit Wayanad, from where he won the Lok Sabha elections. Gandhi, who represented Wayanad in 2019, has also won from Raebareli LS seat this time. 

PM Modi’s Bhubaneswar roadshow, rescheduled swearing-in ceremony

Prime Minister Narendra Modi is set to lead a massive roadshow in Bhubaneswar, Odisha, on June 12. The grand swearing-in ceremony for Odisha's new Chief Minister, following the BJP's electoral victory in the Assembly polls, was rescheduled to June 12, 2024, instead of the originally planned June 10. 

Centre Targets Improved Fiscal Deficit Goals

The central government aims to surpass its fiscal consolidation targets for the current and next fiscal years, driven by increased revenues and cautious spending. According to insiders, the interim budget presented in February had set fiscal deficit targets at 5.1% for FY25 and 4.5% for FY26, but officials expect to exceed these targets barring any unforeseen developments.

Key economic developments expected today: Fed meeting and inflation report

June 12 promises to be a crucial day for economic news, as investors eagerly await updates on inflation and the Federal Reserve's policy decisions. The day begins with the release of the pivotal consumer price index (CPI) for May, providing critical insights into the current state of inflation. This will be followed by the Federal Reserve's policy meeting in the afternoon, where officials will discuss their strategies in response to the economic data.

Odisha's New CM Majhi to be sworn in

Four-time MLA Mohan Charan Majhi has been chosen as the next Chief Minister of Odisha, according to an announcement made by senior BJP leader and Defence Minister Rajnath Singh on Tuesday.

At 52, Majhi is a significant tribal figure in the coastal state. Kanak Vardhan Singh Deo and Pravati Parida will be his deputy chief ministers. Majhi will be sworn in CM today, June 12.

In a post on the microblogging site X, Rajnath Singh expressed his pleasure, saying, "I am thrilled to announce that Shri Mohan Charan Majhi has been unanimously chosen as the leader of the Odisha BJP Legislature Party. He is a young and energetic party worker who will steer the state towards progress and prosperity as the new Chief Minister of Odisha. Heartfelt congratulations to him."

CPI data and IIP data to be out today

Investors are keenly awaiting the release of major macroeconomic data, starting with the Index of Industrial Production (IIP) data, scheduled for June 12. On the same day, the Consumer Price Index (CPI) data for May will be released. Notably, the CPI for April showed a 0.48 per cent increase compared to the previous month.

Chandrababu Naidu to take oath as Andhra Pradesh CM

Nara Chandrababu Naidu, leader of the Telugu Desam Party, will be sworn in the Chief Minister of Andhra Pradesh on June 12, 2024. Prime Minister Narendra Modi, Union Home Minister Amit Shah, and BJP chief JP Nadda are among the leaders expected to attend the swearing-in ceremony.

Rahul Gandhi’s visit to Wayanad

Senior Congress leader Rahul Gandhi is set to visit Wayanad, Kerala on June 12. His visit follows a decisive victory in the Wayanad constituency during the recent Lok Sabha elections, where he defeated CPI candidate Annie Raja by a margin of 364,422 votes. Speculations abound regarding whether Gandhi will retain the Wayanad seat or Raebareli, a Congress stronghold in Uttar Pradesh, from where also he got elected this time.

Supreme Court adjourns Delhi water crisis hearing

The Supreme Court has adjourned the hearing on the Delhi government's plea for surplus water from Haryana to June 12. A vacation bench criticised the Delhi government for procedural errors in their petition, stressing the importance of addressing the capital's water crisis. The bench, comprising Justice Prashant Kumar Mishra and Justice Prasanna B Varale, emphasized the need for precision in legal submissions and warned against taking court proceedings lightly.