Month: July 2024

‘Allocation for Koparthy industrial node will spur development of Rayalaseema’

July 23, 2024 admin

In the budget presented on July 23 (Tuesday), the Union Finance Minister Nirmala Sitharaman announced, among other projects, additional allocation for capital investment on the Visakhapatnam-Chennai Industrial Corridor (VCIC) and the Hyderabad-Chennai industrial corridor. “For the Koparthy node on the Visakhapatnam-Chennai Industrial Corridor, an additional allocation will be provided this year towards capital investment for…

Business

Watch: Budget 2024: What’s in it for markets and investors?

July 23, 2024 admin

Watch: Budget 2024: What’s in it for markets and investors? On July 23, the Finance Minister Nirmala Sitharaman presented the first full budget of the 3rd term of the NDA government. Here is the analysis of the proposals concerning the markets and investors. For deepening tax base the Finance Minister has proposed to increase Securities…

Business

₹1,000 crore venture capital fund to promote space technology

July 23, 2024 admin

The fund will definitely accelerate the journey of a lot of early-stage start-ups and position them to scale faster, says experts. | Photo Credit: file photo Finance Minister Nirmala Sitharaman announced in the Budget a venture capital fund of ₹1,000 crore to promote space technology. “With our continued emphasis on expanding the space economy by…

Business

Budget 2024 signals arrive of compulsory emission targets for industry

July 23, 2024 admin

Photo used for representation purpose only | Photo Credit: The Hindu Finance Minister Nirmala Sitharaman’s Budget speech has for the first time signalled that polluting industries, such as iron, steel, and aluminium will have to conform to emission targets. “A roadmap for moving the ‘hard to abate’ industries from ‘energy efficiency’ targets to ‘emission targets’…

Business

LDF, UDF term Union Budget an act of political self-preservation

July 23, 2024 admin

File picture of Chief Minister Pinarayi Vijayan | Photo Credit: Thulasi Kakkat The ruling and Opposition fronts in Kerala have termed the 2024-25 Union Budget a “political act” to appease allies who could potentially undermine the precarious National Democratic Alliance (NDA) government at the Centre. Chief Minister Pinarayi Vijayan said the Budget lacked a national…

Business

On Virat Kohli, Rohit Sharma’s T20I Retirement, Big Revelation From India’s Departing Bowling Coach

July 23, 2024 admin

Indian cricket stalwarts Virat Kohli and Rohit Sharma dropped a bomb on fans, as they announced their retirement from T20 internationals as the team lifted the T20 World Cup 2024 title. While Virat broke the news in the post-match presentation ceremony, Rohit shared his plans in the press conference after the game. While…

Sports

Budget 2024: Allocation for MGNREGS lower than last year’s actual expenditure, despite BJP’s poll losses in rural India

July 23, 2024 admin

The government has signalled that it wants to revisit the Mahatma Gandhi National Rural Employment Guarantee Act scheme, arguing that it has not met its expected outcome of poverty alleviation. File | Photo Credit: The Hindu Notwithstanding the BJP’s significant losses in rural constituencies in the 2024 general election, the first Budget of the new NDA…

Business

Union Budget 2024: Nirmala Sitharaman scraps Angel Tax on foreign investments amid startup funding winter

July 23, 2024 admin

Union Finance Minister Nirmala Sitharaman during a post-Budget press conference in New Delhi on July 23, 2024. | Photo Credit: ANI In a major respite for India’s fledgling startups, Union Finance Minister Nirmala Sitharaman, presenting the Union Budget in Parliament on July 23, announced scrapping the contentious Angel Tax on foreign investments received by such…

Business

Union Budget gives a leg-up to MSMEs, manufacturing sector

July 23, 2024 admin

Watch: Union Budget gives a leg-up to MSMEs, manufacturing sector The Union Budget for 2024-2025 has a package of support measures for the Micro, Small and Medium-scale Enterprises (MSMEs) and the labour-intensive manufacturing sector. According to the Economic Survey tabled on Monday, the contribution of MSMEs to all-India manufacturing output in FY 22 was 35.4%…

Business

Budget 2024: Under-spending brightens allocations for science ministries, depts.

July 23, 2024 admin

Representative image. | Photo Credit: Lucas Vasques/Unsplash The allocations for the traditional science Ministries and departments in the Union Budget presented by Union Finance Minister Nirmala Sitharaman on Tuesday present a dull picture against the 2023-2024 figures. However, the picture brightens up if their continuing under-utilisation is taken into account. The Department of Science and…

Science