Category: Business
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India Liberalizes FDI Regulations in Space Sector and Continues Commitment to Flood Management and Women’s Safety
On February 21, 2024, a pivotal set of decisions was made by the Prime Minister Narendra Modi-led Union Cabinet, which could significantly impact the future trajectory of India’s space industry and its commitment to social welfare. Among the decisions, the Cabinet approved revisions to the existing Foreign Direct Investment (FDI) policy in the space sector,…
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Economic Boost to Sugarcane Farmers and Livestock Mission Revamp: Cabinet Approvals
On February 21, the Cabinet Committee on Economic Affairs gathered in New Delhi, concluding with decisive actions aimed at promoting the agricultural sector, specifically concerning sugarcane pricing and livestock policies. A new Fair and Remunerative Price (FRP) of ₹340/quintal was approved for sugarcane for the upcoming 2024-25 sugar season. This indicates a substantial increase of…
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Narayana Murthy Reflects on Infosys’ Past Decisions and Acknowledges Early Contributors
Infosys founder Narayana Murthy expressed regret for not having provided significant stock rewards to many early adopters of Infosys who had played a pivotal role in the company’s establishment and growth. He remarked that their contributions were as substantial as his own, if not more, and wished he had given more thought to their compensation.…
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Fierce Debate on Economic Management: UPA’s Missteps Vs NDA’s Reforms
Finance Minister Nirmala Sitharaman has hit out at the previous UPA administration, accusing them of economic mismanagement and dubbing Sonia Gandhi as the ‘super Prime Minister’. In debating the white paper on India’s economy, Sitharaman argued the allegations within it were evidence-based, scrutinizing the NAC’s unaccountable role and highlighting the staggering mismanagement within the defence…
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Finance Minister Targets Congress Amidst Budget Session Concluding Week
During a sharp attack in the debate on the Indian economy, Finance Minister Nirmala Sitharaman criticized the Congress-led United Progressive Alliance (UPA) government, calling it “rudderless and leaderless,” and accusing Sonia Gandhi of acting as the “Super Prime Minister.” While contrasting the economic performance of the UPA from 2004 to 2014 with that of the…
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From Economic Fragility to Growth: The Indian Economy’s Transformation
Hunger, unemployment, and poverty are pressing issues in India, with claims suggesting these are direct results of current governance. Despite criticisms, official documents presented in Parliament show significant economic progress, where once India was considered one of the ‘fragile five,’ it is now seen as a leading growth story and a preferred investment hub. Complementing…
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Political Tug-of-War: Karnataka’s Tax Devolution Debate Intensifies
Amidst a public demonstration led by Karnataka Chief Minister Siddaramaiah in New Delhi, accusing the central government of fiscal ‘injustice’ in terms of tax devolution and grants-in-aid, Finance Minister Nirmala Sitharaman delivered a staunch rebuttal. In the Lok Sabha, Sitharaman clarified that the state had received an increased share of central taxes and grants-in-aid under…
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Indian Economy and Political Dynamics: Budget Session Extension and White Paper Debate
The Budget Session of the Indian Parliament has been extended until February 10, with the aim to present a comprehensive White Paper that details the economic status of India before and after the year 2014. As the proceedings of the Lok Sabha continue in New Delhi, one significant alteration is the omission of the Question…
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Fractures in India’s Fiscal Federalism: Southern States Protest Unfair Tax Treatment and Borrowing Limitations
Amidst growing protests from southern Indian states, Karnataka took to the streets of Delhi, accusing the Centre of withholding its fair tax share, thus hampering its development capabilities. Kerala and Tamil Nadu also raised alarm over financial neglect and impending protests. The fissures in India’s fiscal federal framework drew attention with West Bengal Chief Minister…
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Paytm CEO Vijay Shekhar Sharma Discusses Regulatory Challenges with RBI and Finance Minister
As a reassurance to customers, Paytm has affirmed that all funds within the Paytm Payments Bank are secure. Contrary to the restrictions, the company clarified that there would be no operational hindrances post-February 29, and customers could continue using existing account balances. Paytm’s resolute stance comes as it endeavors to navigate through the storm created…
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Finance Minister Set to Present the Finance Bill, 2024 as Parliament’s Budget Session Resumes
The Parliament’s Budget Session will reconvene on Tuesday with key financial matters on the agenda. Union Finance Minister Nirmala Sitharaman is scheduled to present the Finance Bill for the fiscal year 2024-2025 to the Lok Sabha for consideration and passage. The bill encompasses the current income-tax rates and introduces tax relief measures as well as…
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Key Insights from Union Finance Minister Sitharaman’s Interim Budget Discussions and Policies for India’s Growth
Union finance minister Nirmala Sitharaman, reflecting on the recent interim budget amidst the anticipation of the 2024 national elections, underscores the government’s alignment with the vision of Viksit Bharat (developed India) by 2047. Focusing on the core sectors of women, youth, farmers, and the impoverished, Sitharaman rebukes the past mismanagement of the economy under the…