TMS Ep202: Economic recovery, philanthropy, crude oil, anti-defection law

An Oxfam survey revealed that the income of 84% of Indian households dropped in 2021. And in contrast, the rank of billionaires swelled from 102 to 142 during the same period. Clearly, the pandemic wasn’t that bad for those with a cushion of wealth. And the effect of this trend was clearly visible in key sectors of the economy. In the auto sector, sales of two-wheelers have nosedived, while SUVs are selling like hotcakes. FMCG is struggling due to weak demand, but the aviation sector is seeing a jump in traffic. Take a dive into the key sectors to find out how the Indian economy is trying to get back on its feet.  

Pandemic also reinvented philanthropy in India. Asia’s richest man, Gautam Adani, last Thursday pledged to donate $7.7 bn to social causes. With that, he joins the global league of philanthropists. But is the family philanthropy by ultra-rich Indians making the desired impact? And if so, in which areas? And are there areas that are not receiving enough attention? Should the billionaires be donating more to address funding gaps and how can they ensure their wealth makes a mark? 

Individual donations jumped by 43% during pandemic years. Meanwhile, during the same period, prices of crude oil also climbed drastically. According to Reuters, in mid-April 2020, the price of a barrel of West Texas crude went below $0 and sellers had to pay to get rid of it. It is beyond $100 now, thanks to the Russian war also. Companies across the value chain, especially crude refiners, have seen material gains in tandem with record high prices of crude oil. Our next report throws light on companies that are likely to seize the most gains.

After the markets, let us move on to the ongoing political turmoil in Maharashtra. The ruling Maha Vikas Aghadi government -- led by Shiv Sena -- is in crisis as one of their own leaders, Eknath Shinde, has rebelled. Reports say that he is claiming the support of at least 40 MLAs. In the entire political drama, anti-defection law has come into focus. This episode of the podcast explains it in details.