Category: Business

Business

Rupee plunges 67 paise to hit record low of 87.29 against U.S. dollar in early trade

February 3, 2025 admin

Image used for representative purpose only | Photo Credit: Ragu R The rupee depreciated 67 paise to hit record low of 87.29 against the U.S. dollar in early trade on Monday (February 3, 2025) after Trump Tariffs on Canada Mexico and China triggered fears of a broad trade war. Donald Trump slapped Canada and Mexico…

Business

Making health system push economic growth: a case of missed opportunity

February 3, 2025 admin

To make our economy grow, we need to push private consumption. To increase private consumption, people need more disposable income. For that, one route is to reduce the money an ordinary person spends on basics such as health and education. The Union Budget 2025-26 seems to have missed this opportunity. We need to focus on…

Business

With DeepSeek, are India’s foundational AI model dreams closer to reality?

February 3, 2025 admin

R1 being built and deployed on an open source basis gives India both a signal and a key tool in proceeding down the foundational AI model path. | Photo Credit: Reuters The emergence of DeepSeek-R1 from China — a highly advanced Artificial Intelligence large language model (LLM) — has jolted technology stocks that were valued…

Business

India reviewing crypto position due to global changes, senior official says

February 3, 2025 admin

Representations of cryptocurrencies | Photo Credit: Reuters India is reviewing its stance on cryptocurrencies due to shifting attitudes towards the virtual asset in other countries, a senior government official told Reuters on Sunday (February 2, 2025). The review, which follows crypto-friendly policy announcements by U.S. President Donald Trump, could further delay publication of a discussion…

Business

Budget 2025 overlooks joblessness – The Hindu

February 2, 2025 admin

The previous Budget, presented in July 2024 after the Lok Sabha election, had accorded priority to employment and skill development, given the nature of the election mandate. The Finance Minister had announced a Prime Minister’s Package of five schemes and initiatives to facilitate job and internship opportunities for 4.1 crore youth over a five-year period…

Business

Amidst Trump’s tariff war, India slashes peak tariffs from 150% to 70%, to ‘correct bad optics’

February 2, 2025 admin

While India’s peak custom duty rate is now 70%, the import duties on the top 30 items exported by the U.S. to India — led by crude petroleum, coking coal, aeroplanes, and liquefied natural gas — are minimal, in the range of zero to 7.5%, the Central Board of Indirect Taxes and Customs chairman Sanjay…

Business

Beyond tax cuts, a closer read of the Union Budget

February 2, 2025 admin

‘The Budget’s policy announcements and fiscal plans need closer scrutiny’ | Photo Credit: ANI The Union Finance Minister, Nirmala Sitharaman’s presentation of the Union Budget on Saturday, February 1, was against the backdrop of pressing macroeconomic challenges — persistently high taxes and unemployment squeezing the middle-income class, subdued private investment, mounting external vulnerabilities that threaten…

Business

A Budget that is forward-looking and growth-oriented

February 2, 2025 admin

The Union Budget 2025-26 is in line with the government’s sustained efforts over the past few years to bolster economic growth and development. The provisions of the Budget indicate the continuation of the government’s strategic approach toward economic expansion, fiscal prudence, and sectoral growth. The multiplier effects of the IT cuts One of announcements in…

Business

Union Budget 2025: Tax cut meant to address ‘angst’ and to kickstart a slowing economy, says Finance Secretary

February 2, 2025 admin

Union Finance Secretary Tuhin Kanta Pandey. | Photo Credit: The Hindu The Centre’s decision to significantly slash the income tax payer’s burden was aimed at addressing some “angst” that the government had noticed in recent months as well as to give a fillip to the economy’s weakening growth impulses with a broad-based boost to demand,…

Business

Average workdays per household is down to just 44 days under MGNREGA

February 2, 2025 admin

Representative image | Photo Credit: PTI Falling short of the 100 days of work guaranteed under the Mahatma Gandhi National Rural Employment Guarantee Act, average workdays per household under the scheme had come down to just 44.62 days in 2024-25 from 52.08 days in 2023-24, a consortium of non-profit organisations said on Sunday (February…

Business