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Last updated on 8 Jul,2024 07:26 AM
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Refresh- India will fail to plug jobs gap even with 7% growth, says CitiThe quality of jobs being created in India is another challenge, the economists said. An analysis of the official data showed about 46% of the workforce is still employed in agriculture, even though the sector contributes less than 20% to gross domestic product.
- Budget 2024: Savings account interest up to Rs 25,000 may get tax exemptThe government is examining a proposal to increase the tax-deductible amount on savings account interest to Rs 25,000. Current limits are Rs 10,000 (Section 80TTA), Rs 50,000 for seniors (Section 80TTB), under the old tax regime. Banks have been advocating for incentives on deposits due to rising concerns over the increasing credit-deposit ratio.
- Chinese involvement in Hindenburg report? Senior lawyer Jethmalani's claim turns Adani saga into a spy thrillerAdani Hindenburg row: Senior lawyer Mahesh Jethmalani has alleged that a businessman with ties to China commissioned a report by Hindenburg Research, resulting in a significant decline in Adani Group shares in January 2023. Jethmalani claimed that Chinese spy Anla Cheng and her husband Mark Kingdon hired Hindenburg and used Kotak Mahindra Investments Limited to establish a trading account for short-selling Adani shares. This move, according to Jethmalani, led to substantial profits for them while causing financial harm to numerous Indian retail investors.
- After Kotak twist & China spies, Hindenburg vs Adani gets murkier as new details emerge in the dramaAdani-Hindenburg row: In the ongoing Adani-Hindenburg saga, new revelations show that US short-seller Hindenburg Research shared its critical report on the Adani group with New York hedge fund manager Mark Kingdon months before its public release. According to Sebi, this collaboration involved a profit-sharing agreement tied to significant declines in Adani's market value, exceeding USD 150 billion across 10 listed firms.
- High watermark: Why is India building its biggest port ever?Vadhavan Port in Palghar district, operational by 2030, will cost Rs 76,220 crore and connect via the DFC. Supporting IMEC, it will handle 23.2 million TEUs by 2040. Challenges include proximity to Tarapur nuclear plant and relocating fishing activities. This 2019 initiative, highlighted by Amitabh Kant, boosts India’s trade.
- Delhi CM Arvind Kejriwal victim of 'deep political conspiracy', people need to rally behind him, says wife SunitaSunita Kejriwal, wife of Delhi Chief Minister Arvind Kejriwal, accused the BJP of orchestrating a political conspiracy against her husband. She claimed that Arvind Kejriwal's arrest by the Enforcement Directorate (ED) in a money laundering case was based on false allegations from TDP MP Magunta Srinivasulu Reddy. Sunita Kejriwal alleged that Reddy changed his statement to implicate Kejriwal after his son was arrested and denied bail.
- Budget 2024: A coalition budget may require Modi to bow down to states' demandBudget 2024: The Indian government's coalition government, led by Narendra Modi, may face challenges in achieving a 'Viksit Bharat' due to the recent meeting between Telugu Desam Party (TDP) supremo Nara Chandrababu Naidu and BJP's top-brass. Naidu has listed state-specific demands for Andhra Pradesh in the forthcoming Budget 2024, with PM Modi agreeing in principle to provide financial support.
- Rahul Gandhi takes battle against Modi to GujaratRahul Gandhi, after challenging BJP, visited Ahmedabad to meet party workers and victims' families. He launched a severe attack on Modi and BJP. He highlighted BJP's defeat in Ayodhya and accused Modi of avoiding a contest there due to predicted defeat. Gandhi vowed to defeat BJP in Gujarat, claiming BJP attacked the Congress office in Ahmedabad. He criticised BJP's leadership, contrasting it with the openness within Congress.
- India-Russia ties: The optics of Modi with Putin when Nato meets in WashingtonWhile Nato meets from July 9-11 in Washington to discuss Ukraine, Prime Minister Narendra Modi will visit Russia on July 8-9 to meet President Vladimir Putin. Nato’s primary focus will be on supporting Ukraine and potential membership, as emphasized by Secretary General Jens Stoltenberg. Indian Foreign Secretary Vinay Kwatra assures Modi's visit is pre-scheduled. This visit challenges Russia’s isolation narrative, reinforced by Hungary's recent support. Moscow-based expert Aleksei Zakharov underscores the significance of Russia's neutrality in India-China disputes. The trip addresses US concerns over India-Russia military-tech ties.
- Will defeat Modi and BJP in Gujarat just like we defeated them in Ayodhya: Rahul Gandhi to Congress workersRahul Gandhi asserted today that Congress will defeat the ruling BJP in Gujarat, addressing party workers in Ahmedabad. He also highlighted the INDI alliance's role in countering the Ram Mandir movement in Ayodhya initiated by Lal Krishna Advani, criticizing the exclusion of locals from the temple inauguration. Gandhi's visit to Gujarat follows clashes between BJP and Congress supporters over his remarks, resulting in FIRs and the arrest of five Congress members.
- Budget 2024 date: Finance Minister Nirmala Sitharaman to present Union Budget in Lok Sabha on July 23Budget 2024 date: Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget, which will outline the roadmap for Modi 3.0, in the Lok Sabha on July 23. The Parliamentary session dedicated to the Budget will commence on July 22 and extend until August 22.
- Finally 'ab ki baar, 400 paar' happened but in another country: Shashi Tharoor on UK poll resultsSenior Congress leader Shashi Tharoor comments on BJP's prediction of 'ab ki baar, 400 paar' as Labour Party in the UK secures a landslide victory. Congress gains support from two Independent MPs, strengthening their position in India. Labour's Keir Starmer becomes UK's new prime minister after winning 412 seats in the general election. Rishi Sunak-led Conservatives face a significant defeat with only 121 seats. The political landscape in both India and the UK experiences significant changes post-elections.
- Train drivers draw Rahul Gandhi's attention to 'serious safety issues' in RailwaysThe All India Loco Running Staff Association (AILRSA) has handed a memorandum to Rahul Gandhi, the Leader of the Opposition in the Lok Sabha, blaming poor working conditions for recent train accidents. The memorandum highlights the plight of train drivers, who work 14 to 16 hours a day and get home after three or four days.
- Broken all parliamentary norms: Congress slams PM for apparent Ansari reference in LS speechCongress has accused Prime Minister Narendra Modi of breaking parliamentary norms by accusing then Rajya Sabha chairman Hamid Ansari of having an "inclination" towards the opposition when the BJP came to power in 2014. Modi responded to the Motion of Thanks on the President's address in the Lok Sabha on July 2, saying that despite the low strength of the Rajya Sabha, the government remained determined to serve the country with pride.
- More tax savings from NPS in Budget 2024? Expect employer's share to rise to 12%, additional Rs 50,000 NPS deduction in new tax regimeNPS changes in Budget 2024: Currently, the deduction in respect of the employer’s contribution (capped at 10%) to NPS is allowed under both the old tax regime and the new tax regime. The government may consider at increasing this limit to 12% (aligned with the exemption of employer’s PF contribution up to 12%). Another proposal is to introduce the additional deduction of Rs 50,000 under the new tax regime. Will Budget 2024 make NPS and new tax regime more attractive for investors? Read on
- India Inc beware! A wave of resignations may be headed your way once job market opens upAs much as 86% of 5,562 professionals who responded to a survey put together by job portal Naukri.com for ET said they would be actively looking out for new jobs now that appraisals were over. About 39% of the respondents said their appraisals had been worse than last year, while they were similar for 33% and better for the balance 28%.
- Beyond Kotak, is there a China connection to the Hindenburg exposé on Adani?Social media is rife with claims that the wife of Mark Elliot Kingdon, the man on whom the spotlight fell following Sebi's revelations, has had ties with the Chinese Communist Party and thus China could be another actor in the Hindenburg saga.
- Govt must offer Lok Sabha deputy speaker's post to opposition: Derek O'BrienDerek O'Brien, a TMC MP, emphasized the government's responsibility to ensure smooth functioning of Parliament during the upcoming Budget session. He reiterated the opposition's demand for appointing one of its members as the Lok Sabha deputy speaker to avoid "bulldozing of bills". O'Brien highlighted the INDIA bloc's push for appointing a deputy speaker from their coalition, aiming to ensure fair debate on national issues like the NEET-UG paper leak and unemployment.
- "Low cost, high performance": Bhavish Aggarwal calls his EV battery 'Bharat Cell' a gamechanger for IndiaOla-founder Bhavish Aggarwal announced that the company has developed a cutting-edge lithium cell battery called the "Bharat cell." This battery is currently in an advanced stage of trials and has the potential to revolutionize the Indian electric mobility ecosystem. "This is the 5G of lithium cells, if I can say, it in a very simple way. This is the cutting-edge technology that we have made in India. Globally, only a few companies have this technology capability," Bhavish Aggarwal said during a podcast session.
- Tesla unlikely to move forward with India investment, Musk's execs cease contact: ReportTesla Inc. is unlikely to pursue new investments in India in the near future, sources familiar with the matter said. Following Elon Musk's postponed visit and lack of further communication, Indian officials believe Tesla faces financial constraints. India now focuses on local automakers like Tata Motors and Mahindra & Mahindra to boost its nascent EV market.
- India will fail to plug jobs gap even with 7% growth, says CitiThe quality of jobs being created in India is another challenge, the economists said. An analysis of the official data showed about 46% of the workforce is still employed in agriculture, even though the sector contributes less than 20% to gross domestic product.
- Budget 2024: Savings account interest up to Rs 25,000 may get tax exemptThe government is examining a proposal to increase the tax-deductible amount on savings account interest to Rs 25,000. Current limits are Rs 10,000 (Section 80TTA), Rs 50,000 for seniors (Section 80TTB), under the old tax regime. Banks have been advocating for incentives on deposits due to rising concerns over the increasing credit-deposit ratio.
- Chinese involvement in Hindenburg report? Senior lawyer Jethmalani's claim turns Adani saga into a spy thrillerAdani Hindenburg row: Senior lawyer Mahesh Jethmalani has alleged that a businessman with ties to China commissioned a report by Hindenburg Research, resulting in a significant decline in Adani Group shares in January 2023. Jethmalani claimed that Chinese spy Anla Cheng and her husband Mark Kingdon hired Hindenburg and used Kotak Mahindra Investments Limited to establish a trading account for short-selling Adani shares. This move, according to Jethmalani, led to substantial profits for them while causing financial harm to numerous Indian retail investors.
- After Kotak twist & China spies, Hindenburg vs Adani gets murkier as new details emerge in the dramaAdani-Hindenburg row: In the ongoing Adani-Hindenburg saga, new revelations show that US short-seller Hindenburg Research shared its critical report on the Adani group with New York hedge fund manager Mark Kingdon months before its public release. According to Sebi, this collaboration involved a profit-sharing agreement tied to significant declines in Adani's market value, exceeding USD 150 billion across 10 listed firms.
- High watermark: Why is India building its biggest port ever?Vadhavan Port in Palghar district, operational by 2030, will cost Rs 76,220 crore and connect via the DFC. Supporting IMEC, it will handle 23.2 million TEUs by 2040. Challenges include proximity to Tarapur nuclear plant and relocating fishing activities. This 2019 initiative, highlighted by Amitabh Kant, boosts India’s trade.
- Delhi CM Arvind Kejriwal victim of 'deep political conspiracy', people need to rally behind him, says wife SunitaSunita Kejriwal, wife of Delhi Chief Minister Arvind Kejriwal, accused the BJP of orchestrating a political conspiracy against her husband. She claimed that Arvind Kejriwal's arrest by the Enforcement Directorate (ED) in a money laundering case was based on false allegations from TDP MP Magunta Srinivasulu Reddy. Sunita Kejriwal alleged that Reddy changed his statement to implicate Kejriwal after his son was arrested and denied bail.
- Budget 2024: A coalition budget may require Modi to bow down to states' demandBudget 2024: The Indian government's coalition government, led by Narendra Modi, may face challenges in achieving a 'Viksit Bharat' due to the recent meeting between Telugu Desam Party (TDP) supremo Nara Chandrababu Naidu and BJP's top-brass. Naidu has listed state-specific demands for Andhra Pradesh in the forthcoming Budget 2024, with PM Modi agreeing in principle to provide financial support.
- Rahul Gandhi takes battle against Modi to GujaratRahul Gandhi, after challenging BJP, visited Ahmedabad to meet party workers and victims' families. He launched a severe attack on Modi and BJP. He highlighted BJP's defeat in Ayodhya and accused Modi of avoiding a contest there due to predicted defeat. Gandhi vowed to defeat BJP in Gujarat, claiming BJP attacked the Congress office in Ahmedabad. He criticised BJP's leadership, contrasting it with the openness within Congress.
- India-Russia ties: The optics of Modi with Putin when Nato meets in WashingtonWhile Nato meets from July 9-11 in Washington to discuss Ukraine, Prime Minister Narendra Modi will visit Russia on July 8-9 to meet President Vladimir Putin. Nato’s primary focus will be on supporting Ukraine and potential membership, as emphasized by Secretary General Jens Stoltenberg. Indian Foreign Secretary Vinay Kwatra assures Modi's visit is pre-scheduled. This visit challenges Russia’s isolation narrative, reinforced by Hungary's recent support. Moscow-based expert Aleksei Zakharov underscores the significance of Russia's neutrality in India-China disputes. The trip addresses US concerns over India-Russia military-tech ties.
- Will defeat Modi and BJP in Gujarat just like we defeated them in Ayodhya: Rahul Gandhi to Congress workersRahul Gandhi asserted today that Congress will defeat the ruling BJP in Gujarat, addressing party workers in Ahmedabad. He also highlighted the INDI alliance's role in countering the Ram Mandir movement in Ayodhya initiated by Lal Krishna Advani, criticizing the exclusion of locals from the temple inauguration. Gandhi's visit to Gujarat follows clashes between BJP and Congress supporters over his remarks, resulting in FIRs and the arrest of five Congress members.
- Union Budget consultations done, Sitharaman set to announce measures and reforms on July 23Budget expectations: Finance Minister Nirmala Sitharaman completed pre-Budget consultations with diverse stakeholders, setting the stage for presenting her seventh Union Budget on July 23. This first full budget of Modi's third term aims to steer India towards becoming a developed nation by 2047. President Murmu hinted at significant economic reforms ahead.
- Budget 2024 date: Finance Minister Nirmala Sitharaman to present Union Budget in Lok Sabha on July 23Budget 2024 date: Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget, which will outline the roadmap for Modi 3.0, in the Lok Sabha on July 23. The Parliamentary session dedicated to the Budget will commence on July 22 and extend until August 22.
- Finally 'ab ki baar, 400 paar' happened but in another country: Shashi Tharoor on UK poll resultsSenior Congress leader Shashi Tharoor comments on BJP's prediction of 'ab ki baar, 400 paar' as Labour Party in the UK secures a landslide victory. Congress gains support from two Independent MPs, strengthening their position in India. Labour's Keir Starmer becomes UK's new prime minister after winning 412 seats in the general election. Rishi Sunak-led Conservatives face a significant defeat with only 121 seats. The political landscape in both India and the UK experiences significant changes post-elections.
- Broken all parliamentary norms: Congress slams PM for apparent Ansari reference in LS speechCongress has accused Prime Minister Narendra Modi of breaking parliamentary norms by accusing then Rajya Sabha chairman Hamid Ansari of having an "inclination" towards the opposition when the BJP came to power in 2014. Modi responded to the Motion of Thanks on the President's address in the Lok Sabha on July 2, saying that despite the low strength of the Rajya Sabha, the government remained determined to serve the country with pride.
- Train drivers draw Rahul Gandhi's attention to 'serious safety issues' in RailwaysThe All India Loco Running Staff Association (AILRSA) has handed a memorandum to Rahul Gandhi, the Leader of the Opposition in the Lok Sabha, blaming poor working conditions for recent train accidents. The memorandum highlights the plight of train drivers, who work 14 to 16 hours a day and get home after three or four days.
- More tax savings from NPS in Budget 2024? Expect employer's share to rise to 12%, additional Rs 50,000 NPS deduction in new tax regimeNPS changes in Budget 2024: Currently, the deduction in respect of the employer’s contribution (capped at 10%) to NPS is allowed under both the old tax regime and the new tax regime. The government may consider at increasing this limit to 12% (aligned with the exemption of employer’s PF contribution up to 12%). Another proposal is to introduce the additional deduction of Rs 50,000 under the new tax regime. Will Budget 2024 make NPS and new tax regime more attractive for investors? Read on
- Govt must offer Lok Sabha deputy speaker's post to opposition: Derek O'BrienDerek O'Brien, a TMC MP, emphasized the government's responsibility to ensure smooth functioning of Parliament during the upcoming Budget session. He reiterated the opposition's demand for appointing one of its members as the Lok Sabha deputy speaker to avoid "bulldozing of bills". O'Brien highlighted the INDIA bloc's push for appointing a deputy speaker from their coalition, aiming to ensure fair debate on national issues like the NEET-UG paper leak and unemployment.
- "Low cost, high performance": Bhavish Aggarwal calls his EV battery 'Bharat Cell' a gamechanger for IndiaOla-founder Bhavish Aggarwal announced that the company has developed a cutting-edge lithium cell battery called the "Bharat cell." This battery is currently in an advanced stage of trials and has the potential to revolutionize the Indian electric mobility ecosystem. "This is the 5G of lithium cells, if I can say, it in a very simple way. This is the cutting-edge technology that we have made in India. Globally, only a few companies have this technology capability," Bhavish Aggarwal said during a podcast session.
- Multiple SIM under your name? You may face a Rs 2 lakh penalty, jail time; how to check SIM cards registered under your nameMultiple sim cards: "The maximum SIM cards limit has been set for nine cards per person, except in the case of Jammu & Kashmir, Assam and Northeast Licensed Service Areas (LSAs) where it is limited to six," says Nittin Arora, Partner, Grant Thornton Bharat.
- 'Jobless growth': Congress slams govt over 'accentuated unemployment crisis'The Congress criticized the Modi government for exacerbating India's unemployment crisis due to failed policies like demonetization and GST. Citing a Citigroup report, they highlighted the urgent need for job creation and reforms to address the high unemployment rates in the country.
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