Ups and Downs in Supreme Court’s Journey
- Overview
- Supreme Court admired for resisting executive power.
- Tainted by Emergency episode; Justice Y V Chandrachud expressed remorse.
- Quashing NJAS
- Modi government’s constitutional amendment challenged by SC.
- Amendment aimed to affect judiciary’s independence.
- SC quashed amendment in 2015, upholding Collegium system.
- Later Decisions Evaded Conflict
- SC refused to examine dilution in Whistleblower Protection Act (2017).
- Validated Aadhaar Act as a money bill (2018) despite Constitution limits.
- Modi government found bypassing Upper House convenient.
- Famous Press Conference
- Four senior SC judges criticized Chief Justice’s functioning in press conference (2018).
- Successor seemed to continue trend, reflected in electoral bonds case (2019).
- Application of ‘Judicial Evasion‘
- SC avoided challenges on Article 370 abrogation, reservation for economically weaker sections, electoral bonds, etc.
- Dismissed plea to transfer funds from PM CARES to National Disaster Relief Fund.
- Upheld draconian Prevention of Money Laundering Act (PMLA) and demonetization move.
Conclusion
- SC’s decision on electoral bonds shows a retrieval of lost ground.
- Remains to be seen if it can continue resisting executive influence in future cases.
Inflation Trends in India
Types of Inflation
- Headline Inflation
- Reflects change in values of all goods in inflation basket.
- Core Inflation
- Excludes food and fuel items, tracks change in values of remaining goods.
- Food Inflation
- Focuses solely on food items in the basket, shows change in values of food items.
Findings from Latest Inflation Data
- February Inflation
- Headline inflation at 5.09%, similar to January.
- Diverging trends: Food inflation up, core inflation down.
- Rising Food Inflation
- Consumer food price index rose to 8.66%.
- Elevated in vegetables (30.25%), pulses (18.9%), eggs (10.69%), cereals (7.6%), sugar (7.48%).
- Easing Core Inflation
- Core inflation down to 3.5% in February.
- Decrease in clothing, household goods, recreation sectors.
- Lowest level since January 2015.
Challenges to Monetary Policy Committee
- Last Meeting
- Maintained status quo; one member favored rate cut.
- RBI projects growth at 7% and inflation at 4.5% in 2024-25.
- Uncertainty remains on food inflation trajectory.
Conclusion
- Clarity on production trends and monsoons could provide room for MPC to adjust policy.
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