Cricket-crazy fans is expected to give a short boost to India's economy

"Hotels in smaller venues are fully sold out for multiple days. The downside could be that more Indian consumers will stay in and watch matches rather than go out and spend on movies, theme parks and malls" - reports claim. 

Cricket-crazy fans is expected to give a short boost to India's economy 

Match tickets selling for up to 50,000 Indian rupees ($600) a pop. Flights to get to a venue. Hotel bookings. Or even just a match-watching party with food and alcohol ordered in.

The cricket frenzy set to hit India as the International Cricket Council’s World Cup begins in a nation of cricket-crazy fans is expected to give a short boost to the country’s economy as consumers splurge to enjoy their favourite sport.

World Cup-related spending could add an estimated additional output of 180-200 billion Indian rupees in the October-December quarter with matches spread out over this month and the next, estimated Madan Sabnavis, chief economist at Bank of Baroda.

“The World Cup has the potential to boost India’s GDP, more so because it coincides with the festive season,” Sabnavis said.

“Consumption, particularly services consumption, is likely to receive the maximum boost. Hospitality and tourism sector are likely to benefit the most.”

The 13th edition of the tournament began in India on Thursday with 48 one-day international matches scheduled across a two-month period. India last hosted the World Cup in 2011, when 1.2 million people attended matches, according to data from brokerage house Jefferies.

Online travel and hotel booking platform MakeMyTrip said it is seeing increased travel bookings to cities including Ahmedabad in Western India and Dharamshala in the north of the country where key matches will be played.

Ahmedabad, which will host a game between rivals India and Pakistan on October 14, has seen a 200 per cent increase in room reservations compared to August, said Rajesh Magow, group chief executive at the portal.

Demand for homestays has also risen as cricket fans are travelling in larger groups to watch matches, he said.

“On India match days, fares have shot up on average by 150 pc for select hotels and 80 pc for select flights compared with the prior week,” said Jefferies in a note this week.

Hotels in smaller venues are fully sold out for multiple days. The downside could be that more Indian consumers will stay in and watch matches rather than go out and spend on movies, theme parks and malls, said Jefferies.

(Reuters report) 

Grounds of arrest of NewsClick founder, HR head not disclosed: Delhi High Court 

The Delhi High Court has scheduled further hearings on Newsclick issue for October 9. The court has also directed the Delhi Police to respond to the petition and produce the case diary.

The court has also emphasized the importance of preserving Amit Chakraborty's physical well-being, considering his disability, while he is in custody.

"The order is indefensible. Why should I be in custody? If the (remand) order is flawed prima facie," Kapil Sibal contended appearing for Prabir Purkayastha.

Solicitor General Tushar Mehta, appearing for the Delhi Police, requested the Court to hear the case on Monday, suggesting that unwarranted attention is being focused on the case.

"There are aspects beyond what meets the eye. I urge you to schedule the hearing for Monday. They have approached this court after a lapse of three to four days. If I cannot secure a weekday, I leave it to the wisdom of my Lords," Mehta said.   

Senior Advocate Kapil Sibal, representing Prabir Purkayastha, expressed strong reservations about the arrest and detention procedures. Sibal argued that the remand order was flawed and unsustainable, emphasizing the lack of disclosure of grounds for arrest and the failure to notify him of the remand hearing. 

He also made a mention of the recent Supreme Court order in which the top court had categorically told the ED that grounds for arrest should be made clear while making an arrest under the Prevention of Money Laundering Act.  

The High Court has expressed reservations about the absence of grounds for detention of NewsClick founder Prabir Purkayastha and human resources department head Amit Chakravarty in the Delhi Police’s remand application.  

In the Delhi High Court on Friday, the single judge bench of Justice Tushar Rao Gedela posed questions concerning the apprehension and detention of Prabir Purkayastha, the founder of NewsClick, and the company's HR head, Amit Chakraborty, in relation to a case under the Unlawful Activities Prevention Act (UAPA). 

The High Court has expressed reservations about the absence of grounds for their detention in the remand application filed by the Delhi Police.