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Samajwadi Party (SP) is a prominent regional party based out of Uttar Pradesh, India, which identifies with a socialist ideology. Currently headed by Akhilesh Yadav and founded by his father and veteran political leader Mulayam Singh Yadav, the foundations of the Samajwadi Party were laid in October 1992, heavily influenced by the ideas and principles of independence activist and political leader Ram Manohar Lohiya. The party “believes in creating a socialist society, which works on the principle of equality”. The main objective of the party is to continue working towards the upliftment of weaker sections of society and it stands strong against communal forces. The party grew to become one of the largest regional parties in India—forming governments in Uttar Pradesh in 1993, 2003, and 2012. Formed months before the Babri masjid demolition, the party started out due to a split-off between Mulayam Singh Yadav and a part of Janata Dal. Yadav, the party head has, on three non-consecutive occasions, served as Uttar Pradesh’s chief minister, along with holding the position of the Minister of Defence in the union government. Presently, SP is the 13th largest party in the parliament. Famous Bollywood actress Jaya Bachchan is a Rajya Sabha MP from SP. Recently, Shatarudra Prakash, a well-known SP minister joined Bharatiya Janata Party. More

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  • AAP joins TMC, SP, refuses to nominate members to JPC on bills to remove PM, CMs

    Both Houses have passed a resolution to refer the bills to the JPC comprising 21 members from the Lok Sabha and 10 from the Rajya Sabha.

  • Trinamool Congress, Samajwadi Party to opt out of JPC on PM, CMs removal bill

    Trinamool Congress, Samajwadi Party to opt out of JPC on PM, CMs removal bill

    TMC Rajya Sabha floor leader Derek O'Brien said in a blog post that both the parties took the decision because the Modi government is pushing to form the JPC to examine an “unconstitutional bill” and it is a “stunt performed to create a distraction” from Special Intensive Revision (vote chori).

  • Beyond Averages: Will the next ratings upgrade take 17 years

    Beyond Averages: Will the next ratings upgrade take 17 years

    Many would say it was only a matter of time after India’s outlook was upgraded to positive two years ago that a ratings upgrade was in the tow. S&P Global Ratings, last week, delivered the much talked about upgrade after a gap of 17 years, underscoring the strength of the Indian economy. But is it too late and will the next one take as much time. Welcome to Beyond Averages, our weekly data podcast where we try to decode the story behind the big numbers and this week we will be talking about S&P’s upgrade and the road ahead. More than the upgrade, it’s the outlook and forecast for India that seem reassuring. S&P expects Indian economy to weather the global uncertainty storm and grow at 6.8 percent starting FY27. The economy is expected to log a 6.5 percent growth this fiscal as per S&P. Moreover, the ratings agency expect debt to come down to below 80 percent and fiscal deficit to fall to 6.6 percent. But does that take us closer to the next upgrade. Not so much, S&P notes that for the next upgrade deficit needs to fall to 6 percent on a structural basis.

  • FinMin sees S&P upgrade as milestone on road to Viksit Bharat 2047

    FinMin sees S&P upgrade as milestone on road to Viksit Bharat 2047

    Economists say move will aid foreign investment inflows and lower borrowing costs

  • 'Inflammatory, anti-women': Cleric booked for 'objectionable' remarks on SP MP Dimple Yadav

    'Inflammatory, anti-women': Cleric booked for 'objectionable' remarks on SP MP Dimple Yadav

    The remarks in question were reportedly made in response to Dimple Yadav's recent visit to a mosque, where the cleric commented inappropriately on her attire.

  • S&P 500 falls into correction as tariff fears rattle stock markets

    S&P 500 falls into correction as tariff fears rattle stock markets

    The S&P 500 fell into correction territory -- a drop of at least 10 percent from a recent peak.

  • Akhilesh Yadav urges UP govt to extend Maha Kumbh dates as millions more plan to visit Prayagraj

    Akhilesh Yadav urges UP govt to extend Maha Kumbh dates as millions more plan to visit Prayagraj

    The UP govt today announced that over 54 lakh devotees have taken a holy dip at the Sangam till 10 am on Saturday, bringing the total number of devotees to an astonishing 50.11 crore.

  • Wall Street closes higher on strong US economic data

    Wall Street closes higher on strong US economic data

    The S&P 500 reached a record high on Thursday, with Micron Technology surging 15.78% amid strong AI-driven chip demand. Jobless claims also fell, signaling a steady U.S. labor market.

  • Oil & gas firms outperformed clean energy by 8.3% in returns over last 5 years: S&P Global data

    Oil & gas firms outperformed clean energy by 8.3% in returns over last 5 years: S&P Global data

    In terms of subsidies and incentives, India has allocated an average of 37% to fossil fuels and 5% to green energy over the past five years, according to the International Institute for Sustainable Development.

  • Wall street week ahead: Size, speed of rate moves in focus as Fed poised to start cuts

    Wall street week ahead: Size, speed of rate moves in focus as Fed poised to start cuts

    Next week, the Federal Reserve’s monetary policy meeting will be closely watched as uncertainty surrounds the extent of interest rate cuts and the pace of future reductions.

  • Wall Street ends slightly down after weak labor market data, dovish Fed comments

    Wall Street ends slightly down after weak labor market data, dovish Fed comments

    U.S. stocks ended mixed on Wednesday after labor market data signaled a potential Fed rate cut, with six out of 11 S&P 500 sectors closing lower amid choppy trading.

  • Wall Street drops on September worries, upcoming data

    Wall Street drops on September worries, upcoming data

    All major indexes, including the S&P 500, Nasdaq, and Dow, posted their worst daily losses since early August as manufacturing data highlighted ongoing economic weakness, dragging down key sectors.

  • Akhilesh Yadav demands defamation case against BJP MLA for remarks on Mayawati

    Akhilesh Yadav demands defamation case against BJP MLA for remarks on Mayawati

    Akhilesh Yadav demands defamation case against BJP MLA for derogatory remarks on Mayawati, calling it an insult to public opinion and a reflection of BJP's bitterness towards marginalized women.

  • Bangladesh unrest not likely to impact India's overall trade balance: S&P

    Bangladesh unrest not likely to impact India's overall trade balance: S&P

    Bangladesh is facing its worst political crisis since independence in 1971, with Prime Minister Sheikh Hasina resigning amid massive anti-government protests.

  • Ayodhya minor rape case: BJP alleges SP 'protecting rapists', Shivpal Yadav demands Dy CM's narco test

    Ayodhya minor rape case: BJP alleges SP 'protecting rapists', Shivpal Yadav demands Dy CM's narco test

    Ayodhya police on July 30 arrested Moid Khan, who runs a bakery in Bhadarsa Nagar of Purakalandar police station area of the district, and his employee Raju Khan for allegedly raping the minor two months ago and recording the act.

  • S&P, Nasdaq end lower in fickle trading, megacap trend uncertain

    S&P, Nasdaq end lower in fickle trading, megacap trend uncertain

    The Dow Jones Industrial Average hung onto early gains to close higher on stronger-than-expected U.S. gross domestic product data.

  • S&P retains India's FY'25 GDP growth estimate at 6.8%

    S&P retains India's FY'25 GDP growth estimate at 6.8%

    In its economic outlook for Asia Pacific, S&P Global Ratings said India's economic growth continues to surprise on the upside with the economy growing 8.2 per cent in fiscal year 2023-24.

  • Wall Street: S&P 500 notches record high, Dow up 100 pts as Nvidia rally continues

    Wall Street: S&P 500 notches record high, Dow up 100 pts as Nvidia rally continues

    The S&P 500 opened higher by 26.76 points, or 0.49%, at 5,499.99, while the Nasdaq Composite gained 51.71 points, or 0.29%, to 17,913.94 at the opening bell.

  • Delhi-NCR Lok Sabha Election Results 2024 Highlights: BJP wins Delhi NCT, BJP’s Manoj Tiwari wins from North-East Delhi; Congress' Raj Babbar loses in Gurugram

    Delhi-NCR Lok Sabha Election Results 2024 Highlights: BJP wins Delhi NCT, BJP’s Manoj Tiwari wins from North-East Delhi; Congress' Raj Babbar loses in Gurugram

    Delhi NCR Lok Sabha Election 2024 Result Highlights

  • India's May manufacturing PMI falls to 57.5 from 58.8 in April

    India's May manufacturing PMI falls to 57.5 from 58.8 in April

    The country's manufacturing activity remained comfortably above the key mark of 50, which separates expansion in activity from contraction, as well as higher than the long-run average (53.9), data released on June 3 showed.

  • Will SP-Congress alliance in Uttar Pradesh last beyond Lok Sabha polls?

    Will SP-Congress alliance in Uttar Pradesh last beyond Lok Sabha polls?

    As political circles speculate, the endurance of the SP-Congress alliance hinges on election results and past experiences, while experts weigh in on the potential for its longevity.

  • S&P outlook revision may not impact Indian markets, but bond yields may trade stable on strong local cues: Experts

    S&P outlook revision may not impact Indian markets, but bond yields may trade stable on strong local cues: Experts

    Today, the 10-year benchmark bond 7.10 percent 2034 bond yield closed at 6.9966 percent.

  • S&P may upgrade India’s rating by FY27: SBI report

    S&P may upgrade India’s rating by FY27: SBI report

    S&P may raise the ratings if India's fiscal deficits narrow, meaningfully and general government debt falls below 7 percent of GDP on a structural basis.

  • Three ways in which Congress' 'mission 2024' differs from 'mission 2019' in Rae Bareli

    Three ways in which Congress' 'mission 2024' differs from 'mission 2019' in Rae Bareli

    Senior Congress functionaries and party workers have termed the contest as one which is being led and driven by party workers

  • Lok Sabha Elections 2024: SP Chief Akhilesh Yadav Files Nomination From UP's Kannauj

    Lok Sabha Elections 2024: SP Chief Akhilesh Yadav Files Nomination From UP's Kannauj

    Samajwadi Party (SP) chief and former Uttar Pradesh chief minister Akhilesh Yadav will contest the 2024 Lok Sabha elections from Kannauj seat. The SP chief filed his nomination from the constituency on April 25.

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