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Hindenburg Research says if Adani Group files a lawsuit, it will demand documents from the company.

image source-Millenium Post   Adani Group has announced that it is considering legal action against Hindenburg Research, a US-based investment research firm, for its recent report on the Indian conglomerate. In response, Hindenburg has stated that it fully stands by its report and believes any legal action taken against them would be without merit. The report, which was released this week, alleged that Adani Group had used undisclosed related-party transactions and earnings manipulation to "maintain the appearance of financial health and solvency" of its listed business units. The firm also stated that they would welcome any legal action taken by Adani Group and would use the discovery process to demand documents.
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Economist Predicts India's Budget will Prioritize Growth and Avoid Populist Measures

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Economist NR Bhanumurthy has stated that India's federal budget, set to be released on February 1st, will focus on supporting growth and balancing fiscal pressures rather than implementing populist measures before elections. Prime Minister Narendra Modi is expected to prioritize macroeconomic stability by sticking to the path of fiscal consolidation in his final full-year budget before the national polls in 2024. The government's goal is to narrow its budget deficit to 6.4% of GDP in the fiscal year ending March, and economists predict it will fall below 6% next year. Bhanumurthy believes the government will present a credible fiscal consolidation roadmap to attract investors and allocate more funds for its rural employment program and consider a similar proposal for the urban sector to support job creation. This is especially important as India's unemployment rate has risen to a 16-month high in December, creating challenges for the government amid slowing growth due to weaker demand both domestically and internationally. Bhanumurthy emphasizes that the budget's focus should be on achieving positive outcomes.


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