COLLECTING DATA
India's key infra sectors' growth slows to 6.3% in May
In May, India's eight core sectors grew at a rate of 6.3% annually, slightly down from 6.7% in April but higher than 5.2% in May 2023. The sectors showing positive growth included electricity, coal, steel, natural gas, and refinery products, according to the Ministry of Commerce & Industry
AI companies train language models on YouTube's archive − making private videos a privacy risk
Exploring the intricate nexus of big tech self-regulation, privacy concerns, and legal safeguards in AI development underscores the imperative for ethical AI model training and deployment.
AI's hunger for power can be tamed
Tech firms investing in AI must prioritize energy-efficient algorithms to combat environmental impact and rising power consumption, shifting away from current energy-intensive models towards more sustainable practices.
Reddit to update web standard to block automated website scraping
AI startups face scrutiny for bypassing Reddit's updated scraping rules. Plagiarism accusations against firms like Perplexity highlight the need for stricter data usage regulations. Reddit's cooperation with TollBit and the Internet Archive ensures non-commercial access while maintaining transparency. The involvement of Alan Barona underscores the importance of ethical content sourcing in AI development.
Facial recognition startup Clearview AI settles privacy suit
The case consolidated lawsuits from around the U.S. filed against Clearview, which pulled photos from social media and elsewhere on the internet to create a database it sold to businesses, individuals and government entities.
Travel dominates forex spending abroad: RBI data
Outward remittances from India under the liberalised remittance scheme fell by 2% year on year. Travel was the largest chunk of foreign currency outflows in April, with maintenance of close relatives being the second largest reason for remittances. Indians spent $31.7 billion overseas under the LRS in the fiscal ended March 2024.
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April-June direct tax mopup rises 21% to Rs 4.62 lakh cr
The Indian government's direct tax collection increased by 20.99% YoY to ₹4.62 lakh crore from April 1-June 17, boosted by a 27.34% increase in advance tax collection. The gross direct tax collection was ₹5.15 lakh crore, up 22.19% from the previous year. The income tax department issued refunds totaling ₹53,322 crore, 33.70% higher than the previous year.
Low unsold housing stock makes room to absorb slower pre-sales growth
The tier I residential real estate inventory in India's top eight cities remains manageable, with a quarter-to-sales ratio of 11, lower than the six-year high of 13. Pune and Bengaluru have favorable unsold stock levels, while Mumbai and Chennai face high inventory build-up. Despite strong pre-sales and housing launches in FY24, the absorption rate remains comfortable. Pre-sales for tier-1 players grew 71% on-year in March. Collections increased by 29%, although leverage remains high. The gross debt to collections ratio slightly rose to 2.4x in FY24.
How to prevent Big Tech dominance, protect privacy and ensure fair competition
The magnitude, scale and speed at which such platforms operate demand ex ante regulation, if the real interests of consumers are to be protected.
Freshers, take note: Data proficiency is becoming the key to multiple career opportunities
Data analysis is a crucial skill valued by employers across industries. It involves extracting insights from raw data using statistical tools. Lokesh Nigam and Krishna Kumar emphasize its importance in decision-making and career growth.
Meta hit with privacy complaints in Europe over AI plans
A Vienna-based privacy campaign group filed complaints in 11 European countries against Meta on Thursday, saying the global tech giant's planned privacy policy change would allow "unlawful" use of personal data for artificial intelligence technology. Through the complaints, the group asks data protection authorities in the 11 European countries to stop Meta's new privacy policy before it enters into force in late June and fully investigate it.
Has Google breached privacy, collected children's voices, license plate details and more?
Google is currently amid a new wave of controversy as a recent privacy breach leak has claimed that it collected the voices of children, license plate numbers as well as home addresses, all of which are immensely private data for individuals.
Election 2024: 400 Paar or Safachat? Seven reasons why exit polls predictions may still go wrong
Election 2024: As the Lok Sabha election results are just hours away, the main focus is on whether the ruling National Democratic Alliance (NDA) or the opposition coalition led by Congress, known as the Indian National Developmental Inclusive Alliance (INDIA), will form the next government. Despite most exit polls predicting a BJP-led NDA majority, their history of inaccuracies remains a concern.
Ranbir Kapoor, Alia Bhatt splurge Rs 2.5 cr on brand new car!
Ranbir Kapoor and Alia Bhatt have recently acquired a stunning new addition to their collection: a luxurious Lexus LM. This high-end vehicle, reportedly costing a hefty sum of Rs 2.5 crore, was sighted parked outside their elegant abode, Vastu. Boasting a sleek exterior design complemented by multi-spoke wheels, the car features a revamped interior suite, top-of-the-line shock absorbers, and advanced dynamic radar cruise control technology.
GST collection in May moderates from record high to Rs 1.73 lakh crore
In May, the Centre collected Rs 1.73 lakh crore in GST, a 10% annual increase. This is down from April's record Rs 2.1 lakh crore. The growth stemmed from a 15.3% rise in domestic transactions and a 4.3% decline in imports. Net GST revenue, after refunds, was Rs 1.44 lakh crore.
Mumbai property market continues record-setting spree with best-ever May
The country’s commercial capital witnessed more than 11,917 property registrations during the month, up 21.3% from a year ago. The performance led to the state exchequer fetching revenue worth over Rs 1,029 crore through stamp duty collection, up 23.5% on-year, showed data from Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra.
Recordent announces 100+ meets connecting 10,000 Indian SMEs across India
These events aim to serve as valuable networking platforms, enabling participants to gain insights and build connections within the industry.
Govt's cash balance surges, banks starve
The ongoing general elections have led to a surplus in government cash balances, impacting the banking sector due to reduced spending. The Centre's adoption of efficient fund management practices has resulted in over ₹3 lakh crore in cash balances, affecting borrowing costs and liquidity in the market.
Paytm halts postpaid loans, to focus on distribution-only model
Fintech major Paytm's losses widened to Rs 550 crore in the fourth quarter ended March 2024. The same stood at Rs 169 crore in the last year quarter.
GDP growth likely to be 6.2 pc in Q4; 7 pc in FY24: Ind-RA
India Ratings and Research forecasts India's GDP growth rate at 6.2% for the March quarter and 6.9-7% for 2023-24 fiscal year, per economist Sunil Kumar Sinha. The government is to release Q4 GDP numbers and fiscal estimates on May 31.
GST revenue collection hits record high of Rs 2.10 lakh cr in April
India's Goods and Services Tax (GST) collections soared to a new peak of Rs 2.10 lakh crore in April, marking a 12.4% increase from the previous year, according to the Finance Ministry. The surge was fueled by a 13.4% rise in domestic transactions and an 8.3% increase in imports.
In the driver's seat of driverless cars
China has amassed a ferocious pack of EV-makers, led by the world's top producer BYD, that are not only forcing price cuts but are also pushing the envelope on autonomous vehicles. This is helped by the fact that some of its EV-makers such as Huawei started out as smartphone manufacturers and have been quite adept at making cars smarter.
'We aren't going anywhere': TikTok to fight US ban law in courts
TikTok's CEO vowed Wednesday to fight in the courts to overturn a newly signed US law that could see the popular app banned due to allegations it is controlled by the Chinese government. Americans must think of TikTok's "power, access, capability, control" as being in the hands of the Chinese government and intelligence service, Wray said.
Study finds app-based tests effective in detecting dementia before symptoms appear
A new study reveals that data collected through a mobile app, including voice recordings and body movements, can aid in the early detection of dementia at a genetic level. The app, developed by researchers in collaboration with a software company, includes tests of executive function and language comprehension, key areas affected by frontotemporal dementia (FTD).
Portugal orders Sam Altman's Worldcoin to halt data collection
Worldcoin encourages people to have their faces scanned by its "orb" devices, in exchange for a digital ID and free cryptocurrency. More than 4.5 million people in 120 countries have signed up, according to Worldcoin's website.
Portugal orders Sam Altman's Worldcoin to halt data collection
Portugal's data regulator, the CNPD, said there was a high risk to citizens' data protection rights, which justified urgent intervention to prevent serious harm. More than 300,000 people in Portugal have provided Worldcoin with their biometric data, the CNPD said.
India's net direct tax collection grows 20% to over Rs 18.90 lakh crore till March 17
India's direct tax collection surged by 19.88%, reaching over Rs 18.90 lakh crore by March 17, as per government data released on Tuesday. The Income Tax Department specified that the total net direct tax collection stood at Rs 18,90,259 crore, comprising Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal Income Tax (PIT) along with Securities Transaction Tax (STT) at Rs 9,72,224 crore (net of refund).
Dharavi redevelopment project survey to commence on March 18
The Adani Group-led Dharavi Redevelopment Project Pvt Ltd (DRPPL) will start the survey to collect data from informal tenement residents of Dharavi from March 18. This data will be used by the state government to determine rehabilitation eligibility criteria under the proposed redevelopment project.
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