Mumbai, Aug 5: The Reserve Bank of India (RBI) on Wednesday projected consumer price inflation at 5 per cent for FY27, while expecting it to rise further in the near term.

Announcing the Monetary Policy Committee’s (MPC) decision to keep the repo rate unchanged at 5.25 per cent, Malhotra said headline consumer price inflation (CPI) rose to 4.4 per cent in June after remaining below the central bank’s 4 per cent target for 16 consecutive months.

However, he reiterated that the Indian economy remains resilient and continues to be supported by robust domestic demand, sustained manufacturing and services activity, healthy investment trends and strong exports.

Moreover, Q1 inflation was 30 basis points lower than the RBI’s earlier projection, reflecting limited pass-through of input cost pressures, he noted.

Despite the increase in food and fuel costs, core inflation — excluding food and fuel — remained unchanged at 3.9 per cent during May and June.

Excluding precious metals, core inflation was even lower at 2.3-2.5 per cent, indicating that broader demand-side inflationary pressures remain subdued.

In addition, the RBI has projected CPI inflation at 5 per cent for FY27, with quarterly projections of 4.7 per cent in Q2, 5.9 per cent in Q3 and 5.5 per cent in Q4.

While inflation for the first quarter of FY28 is projected at 5.3 per cent.

Malhotra said risks to the inflation outlook continue to stem from the impact of El Nino on rainfall distribution, volatility in global crude oil prices and geopolitical developments.

The Governor added that growth remains resilient, supported by steady domestic demand, sustained expansion in manufacturing and services activity, healthy investment trends and robust exports.

High-frequency indicators suggest that private consumption remained strong during the first quarter of FY27, while investment activity continued to be supported by construction, capital goods production and bank credit growth.

“Growth continues to be supported by resilient domestic demand, sustained expansion in manufacturing and services activity, and robust exports, reaffirming India’s position as the world’s fastest-growing major economy,” Malhotra said.

The RBI Governor said the MPC decided to maintain the repo rate and retain the neutral policy stance as greater clarity is needed on the future trajectory and composition of inflation before any monetary policy action is considered.

Mumbai, Aug 5: The Shiv Sena(UBT) has launched a sharp political commentary targeting the Centre, alleging that recent developments and youth-led protests signify growing public discontent.

An editorial in the party’s mouthpiece ‘Saamana’ on Wednesday asserted that electoral outcomes across various regional contests, especially in Bankipur and Datia, reflect shifting voter sentiments regarding governance and socio-economic issues.

The editorial critiqued the ruling party’s legislative approach and claimed that public dissatisfaction is mounting across both national and state levels.

Analysing recent Assembly and regional contests, the editorial highlighted gains by alternative political forces and argued that traditional vote banks are being re-evaluated based on local priorities, employment, and regional development.

According to the editorial, youth have already mounted a challenge against the BJP-led government’s dictatorial functioning. The Assembly by-election results in Bankipur and Datia represent a clear mandate against their corrupt government. The public has taken revenge for the ‘pellet guns’ through these by-election defeats. The beginning of the end of BJP’s politics under the leadership of PM Narendra Modi and HM Amit Shah has commenced.

The editorial said that the ‘Jantar Mantar’ agitation has rattled the Modi government and the results of the by-elections have struck a blow to the BJP’s high-handedness. While the arrogance of the BJP leadership was defeated in the Bihar and Madhya Pradesh by-elections, the BJP managed to retain the Manjalpur Assembly seat in Gujarat. These results mirror the growing restlessness in the Indian public.

“Calling these by-elections ‘mini general elections’ or a ‘mirror of the public mood’ might be an exaggeration. Nonetheless, the results clearly illustrate the current trajectory of political developments,” remarked the editorial.

The editorial further stated that the Bankipur seat was vacated by BJP National President Nitin Nabin and it had been a traditional BJP stronghold since 1995. Prashant Kishor breached this impenetrable fortress of the BJP, while the Rashtriya Janata Dal (RJD) candidate was pushed to third place. Notably, the BJP’s National President failed to retain his own home turf, which must be viewed as a defeat for the entire BJP.

“BJP leader Ravi Shankar Prasad had brazenly boasted that even if the BJP fielded a dog or a cat in Bankipur, the people would vote for them. They took the voters for granted and tried to fool them, but it backfired. This victory earned Prashant Kishor’s Jan Suraag Party a presence in the Assembly. The public rejected Tejashwi Yadav due to his lack of consistency and because the people of Bihar have grown tired of caste politics, prioritising education and employment instead. In the Bankipur constituency, where Muslims and Yadavas form a majority, voters chose to back Prashant Kishor over the Rashtriya Janata Dal. This transformation in Bihar’s politics sets a new direction,” observed the Thackeray camp.

The editorial argued that the young voters in Bankipur dismantled the BJP’s prospects following the ‘Gen Z’ movement at Jantar Mantar. This serves as a stern lesson for the party. Some analysts might suggest that the BJP itself enabled Prashant Kishor’s victory to douse the burning issues surrounding ‘Jantar Mantar’ and the Ram Temple loot, but such claims lack substance.

“What transpired in Bankipur was mirrored in Datia constituency, where Congress’ Ghanshyam Singh defeated the BJP candidate. This seat had fallen vacant following the disqualification of a Congress MLA. Despite the BJP deploying every trick in the book — by hook or by crook — the public rejected them. While it comes as no surprise that the BJP retained Gujarat’s Manjalpur seat, its reputation suffered irreparable damage in Bankipur and Datia,” claimed the editorial.

“The BJP suffered these defeats despite being in power in both Madhya Pradesh and Bihar. While by-election victories cannot be deemed an absolute national mandate, history shows that several by-elections in Indian politics have brought about a complete change of wind,” said the editorial.

The Uddhav Thackeray-led Shiv Sena said that the current defeats in Bankipur and Datia have shown that the BJP’s confidence appears shaken over issues like the attacks on Jantar Mantar protesters and temple financial improprieties. “PM Modi and Home Minister Shah have virtually retreated from parliamentary debate. While the BJP has engineered splits in opposition parties and built a majority by poaching regional MPs, the opposition continues to stand firm,” it noted.

The editorial concluded that with young voters taking to the streets against authoritarianism, the purchased majority holds little weight in Parliament or among the public. “These by-election results are a clear verdict against a corrupt administration. If the opposition sets aside its internal ego, the downfall of this authoritarian power is inevitable,” it said.

Mumbai, Aug 5: In a major move aimed at safeguarding public health, the Maharashtra government has imposed a complete ban on the manufacture, sale, storage, transportation, distribution, and processing of analogue paneer (artificial or non-dairy cottage cheese) across the state. With this decision, Maharashtra becomes the second state in the country, after Chhattisgarh, to prohibit the product.

According to an order issued by Food Safety Commissioner Tukaram Mundhe on July 30, the ban has come into immediate effect. It covers the manufacture, processing, packing, storage, transportation, wholesale and retail sale, as well as the offering for sale of analogue or non-dairy cheese throughout the state.

The Food and Drug Administration (FDA) has clarified that any individual or establishment selling analogue paneer while misrepresenting it as genuine dairy cheese will be deemed to have misled consumers and engaged in unfair trade practices under the Food Safety and Standards Act, 2006. Authorities have warned that strict legal action will be taken against violators.

Under the provisions of the Act, offenders may face imprisonment of up to six months and a fine of up to Rs 1 lakh, depending on the nature and severity of the offence. In cases where the consumption of unsafe food results in death, the law provides for life imprisonment along with a minimum fine of Rs 10 lakh.

The issue had also been raised in the Maharashtra Legislative Assembly last year, where several legislators demanded a complete ban on analogue paneer. The government’s latest decision is being viewed as a significant step towards protecting consumers from misleading food products and ensuring food safety.

Cottage cheese is a staple in Indian households and is valued for its taste, versatility, and high nutritional content. However, in recent years, analogue paneer has emerged as a low-cost alternative in the food industry. Unlike traditional paneer, analogue paneer replaces expensive milk fat and milk solids with vegetable oils, such as palm oil, and starches to replicate the appearance and texture of dairy paneer at a fraction of the cost.

Although analogue paneer closely resembles regular paneer and is often difficult to distinguish visually, it lacks several essential nutrients, including protein, calcium, and vitamins. Health experts have also expressed concerns about its potential adverse health effects, prompting growing debate over its quality, nutritional value, and authenticity.