India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Chennai: Over the past decade India has lifted 171 million people from extreme poverty. Those living on less than $2.15 per day fell from 16.2 percent in 2011- 12 to 2.3 percent in 2022-23, finds the World Bank. However, Wage disparity remains high, with the median earnings of the top 10 per cent being 13 times higher than the bottom 10 per cent in 2023-24. Rural extreme poverty dropped from 18.4 percent to 2.8 percent, and urban from 10.7 percent to 1.1 percent, narrowing the rural-urban gap from 7.7 to 1.7 percentage points -- a 16 percent annual decline. India also transitioned into the lower-middle-income category. Using the $3.65 per day LMIC poverty line, poverty fell from 61.8 percent to 28.1 percent, lifting 378 million people out of poverty. Rural poverty dropped from 69 percent to 32.5 percent, and urban poverty from 43.5 percent to 17.2 percent, reducing the rural-urban gap from 25 to 15 percentage points with a 7 percent annual decline. Nevertheless, the World Bank finds that data for India over the entire available time series has undergone adjustments. Over the last several decades, India has changed its method of collecting consumption data. Historically, the surveys collected consumption data using the Uniform Reference Period (URP), in which survey respondents are asked for their consumption during the preceding 30-day period. With the 2011-12 round of the National Sample Survey (NSS), the Modified Mixed Reference Period (MMRP) was introduced (in addition to the URP instrument), which asks survey respondents for their consumption over the preceding 7 days for perishable items, 365 days for five low-frequency items, and 30 days for the remaining items. The five most populous states -- Uttar Pradesh, Maharashtra, Bihar, West Bengal, and Madhya Pradesh -- accounted for 65 percent of the country's extreme poor in 2011-12 and contributed to two-thirds of the overall decline in extreme poverty by 2022-23. Nevertheless, these states still accounted for 54 per cent of India's extremely poor (2022-23) and 51 per cent of the multidimensionally poor (2019-21). As measured by the multidimensional poverty index (MPI), non-monetary poverty declined from 53.8 per cent in 2005-06 to 16.4 percent by 2019-21. The World Bank's Multidimensional Poverty Measure is at 15.5 percent in 2022-23. India's consumption-based Gini index improved from 28.8 in 2011-12 to 25.5 in 2022-23, though inequality may be underestimated due to data limitations, it said. Wage disparity remains high, with the median earnings of the top 10 per cent being 13 times higher than the bottom 10 per cent in 2023-24. Employment growth has outpaced the working-age population since 2021-22. Employment rates, especially among women, are rising, and urban unemployment fell to 6.6 percent in Q1 2024-25, the lowest since 2017-18. Recent data indicates a shift of male workers from rural to urban areas for the first time since 2018-19, while rural female employment in agriculture has grown. However, youth unemployment is 13.3 per cent, increasing to 29 per cent among tertiary education graduates. Only 23 per cent of non-farm paid jobs are formal, and most agricultural employment remains informal. Self-employment is rising, especially among rural workers and women. Despite a female employment rate of 31 percent, gender disparities remain, with 234 million more men in paid work.
nion Minister of State for Labour and Employment Shobha Karandlaje cited statistics in the Lok Sabha on Monday to show that youth unemployment rates in India were lower than global levels. The minister cited a report by the International Labour Organisation's (ILO) Institute for Human Development (IHD) which states that the worldwide youth unemployment rate was 15.6 per cent in 2021. Further, as per World Employment and Social Outlook Trends, 2024 by ILO, globally, in 2023, the youth unemployment rate was 13.3 per cent. On the other hand, the latest annual Periodic Labour Force Survey (PLFS ...Read More >
Ahmedabad, June 8 (SocialNews.XYZ) The MSC IRINA, recognised as the world's largest container ship by TEU (Twenty-foot Equivalent Unit) capacity, is set to dock at the Adani Group's Vizhinjam International Seaport on Monday and will be berthed till Tuesday. The monumental arrival marks a significant milestone for the seaport, which was dedicated to the nation by Prime Minister Narendra Modi on May 2. The MSC IRINA boasts an impressive capacity of 24,346 TEUs, making it a formidable player in global shipping. With a length of 399.9 metres and a width of 61.3 metres, the vessel is approximate ...Read More >
New Delhi [India], July 5 (ANI): India has emerged as one of the most equal societies globally, with a Gini Index of 25.5, according to the latest data from the World Bank. Ranking fourth worldwide in income equality, India now stands just behind the Slovak Republic, Slovenia, and Belarus. "It reflects how India's economic progress is being shared more evenly across its population. Behind this success is a consistent policy focus on reducing poverty, expanding financial access, and delivering welfare support directly to those who need it most," a release from the Social Welfare said. The Gi ...Read More >
Guwahati (Assam) [India], July 5 (ANI): The Leader of Opposition in Assam Legislative Assembly, Debabrata Saikia, on Saturday justified the move to put pictures of senior Congress leader Rahul Gandhi on the packets of sanitary pads, which they are distributing as a part of a welfare scheme. Speaking to ANI, Saikia mentioned that there is nothing wrong with putting pictures on such good initiatives. 'Distributing 5 lakh sanitary pads is just the beginning, and such welfare schemes should be taken up. We have placed the picture of Rahul Gandhi, but there is no reason for the BJP to get angry. ...Read More >
India's growth in gross domestic product (GDP) of 5.4% in the three months ended 30 September, or the second quarter of 2024-25, was a shocker. It undershot even the most pessimistic forecasts. It's the lowest level seen since the third quarter of 2022-23 and a sharp drop from 8.1% growth in the same period last year and also from 6.7% in the first quarter of 2024-25. The consensus expectation stood at about 6.5% and the Reserve Bank of India (RBI) was expecting around 7% growth till its October policy, only to pare it to 6.8%. Growth in gross value added (GVA), which is the preferred measure ...Read More >
The National Investigation Agency (NIA) has charged five individuals, including goldy Brar, in relation to the 2024 Gurugram club bombing plot, as revealed in a recently filed chargesheet. This case involves a conspiracy to bomb two clubs, aiming to disrupt communal harmony in Haryana, with the banned terrorist group Babbar Khalsa International (BKI) implicated. The NIA's investigation highlights the severity of the plot. Those charged include satinderjit Singh (Goldy Brar), Sachin Talian, Ankit, Bhavish, and Randeep Singh. News Directory 3 provides crucial updates on sensitive cases such ...Read More >
Mumbai, June 29 (SocialNews.XYZ) Opposition parties in Maharashtra on Sunday decided to boycott the customary high tea event of the Fadnavis government on the eve of the Legislature's Monsoon Session, citing corruption, misuse of funds and the deterioration of the economic, social, administrative and moral situation. The opposition leaders alleged that not appointing the Leader of Opposition (LoP) in the state Assembly was a murder of the Constitution, and efforts are underway to curb democracy. The opposition parties claimed that amid rising corruption, unemployment, crime against women, fa ...Read More >
Chandigarh: Haryana chief minister Nayab Singh Saini on Tuesday said the state govt was consistently working to provide better resources to the doctors and quality healthcare services to the citizens.He mentioned that medical colleges were being established in every district.While there were only six medical colleges in 2014, the number has now increased to 15, and nine new colleges are under construction. As a result, MBBS seats in the state increased from 700 in 2014 to 2,185, at present. The state govt aims to increase the MBBS seats to over 3,400 by 2029, said Saini.The CM was addressing a ...Read More >
New Delhi, Jul 2: Prime Minister Narendra Modi arrived today in Accra on his State Visit to Ghana. In a special gesture, on arrival at the airport, Prime Minister was received by the President of Ghana, H.E. John Dramani Mahama and accorded a ceremonial welcome. This gesture is reflective of the strong and historic bonds of friendship between the two nations. Prime Minister Narendra Modi departed Wednesday, on an eight-day, five-nation visit aimed at reinforcing India's strategic partnerships across Africa, Latin America, and the Caribbean. Between July 2 and 9, the Prime Minister will travel ...Read More >
New Delhi: Prime Minister Narendra Modi on Monday called on Brics countries to work together in order to secure critical mineral supply chains and ensure that no one nation is able to dominate and weaponize these resources. His call at the 17th Brics Summit in Rio de Janeiro comes amid a Chinese chokehold on global rare earth supplies. Brics is a group of 11 countries that was set up by Brazil, Russia, India, China and South Africa. Modi said it was important to make critical mineral supply chains reliable and ensure that no one country uses these resources for its own selfish gains or as a ...Read More >
ess than 24 hours after he asserted in Nigeria's Abuja that stepping out of the comfort zone, innovating and creating new paths has now become the very essence of today's India, Prime Minister Narendra Modi on Monday told the gathering of world's most influential leaders converged in Rio de Janeiro for the G20 Summit that the main reason for India's success lies in his government's 'back to basics' and 'march to the future' approach. Addressing the G20 session on 'Social Inclusion and the Fight Against Hunger and Poverty' at the bayside museum of modern art during the two-day 19th G20 Summit, ...Read More >
Union Minister of Rural Development and Agriculture & Farmers' Welfare Shri Shivraj Singh Chouhan launched the third edition of Nayi Chetna - Pahal Badlaav Ki, a national campaign against gender-based violence, at Rang Bhawan Auditorium, New Delhi yesterday. Delivering his address, Shri Chouhan stated that the Government has taken a slew of initiatives for women's economic and social development. He stressed that gender-based violence is not an issue that persists in rural areas, but in urban areas as well. He said with the presence of Union Minister of Women and Child Development Smt. Annpurn ...Read More >
New Delhi: Three Indian citizens vanished mysteriously in Tehran. Darkness closed in as hope seemed lost. A ruthless Pakistani gang with potential links to ISI snatched them away, casting a shadow of fear. But relentless Indian diplomats refused to back down. Against all odds, a daring rescue mission ignited. Now, the captives are free, and a chilling game of espionage comes to light. The Punjab-based trio - Amritpal Singh from Hoshiarpur, Jaspal Singh from SBS Nagar and Hushnapreet Singh from Sangrur - had landed in Iran on May 1. Promised a clandestine route to Australia via Dubai and Tehra ...Read More >
NEW DELHI: Signalling the government's intent to move ahead with the impeachment motion of Allahabad High Court judge Justice Yashwant Varma, Union Minister Kiren Rijiju on Thursday said that main opposition parties have given their in-principle approval to support the motion in the upcoming monsoon session scheduled for July21-August 21. Rijiju said that the government is yet to decide whether the motion would be brought in the Lok Sabha or the Rajya Sabha. For the Lok Sabha, signatures of a minimum 100 MPs is required. The requirement is the support of at least 50 MPs in the Rajya Sabha. H ...Read More >
New Delhi, Jul 5 (PTI) Inequality in India has come down significantly between 2011-12 and 2022-23, making it the fourth-most equal country globally, according to a World Bank report. This is in addition to a sharp decrease in extreme poverty, which has dropped from 16.2 per cent in 2011-12 to 2.3 per cent in 2022-23, an official release said quoting World Bank data. The government attributed the reduction in inequality to various initiatives and schemes pursued during the last decade. The only three countries which have a better Gini Index score, a measure of equality, are the Slovak Repub ...Read More >
Bhopal (Madhya Pradesh): The state government made significant transfers of IAS officers on Sunday. Additional Chief Secretary (ACS) Rajesh Rajora has been transferred from the Chief Minister's Secretariat. In his place, Neeraj Mandloi has been appointed as Additional Chief Secretary in the CM Secretariat. Mandloi will also continue to hold charge of the Energy Department and Public Service Management Department. Rajora will retain his position as ACS in the Narmada Valley Development and Water Resources Department. ACS Sanjay Dubey has been posted to the Urban Development and Housing Depart ...Read More >
Silchar: Assam chief minister Himanta Biswa Sarma on Friday visited the flood-ravaged districts of Hailakandi and Sribhumi in the Barak Valley. He assured affected residents of providing timely disbursement of rehabilitation grants and swift repair of damaged infrastructure.This marks Sarma's second visit to the flood-hit region within four days, underscoring the gravity of the situation. Speaking to the media in Sribhumi after inspecting multiple relief camps, the CM said, "Flood-related problems may persist till July. I will return before Durga Puja to ensure that roads and infrastructure ar ...Read More >
New Delhi, Jun 7 (PTI) India's extreme poverty rate declined sharply to 5.3 per cent over a decade from 27.1 per cent in 2011-12 even as the World Bank revised upwards its threshold poverty line to USD 3 per day. Given India's inflation rate between 2017 and 2021, a revised extreme poverty line of USD 3 would constitute a 15 per cent higher threshold than USD 2.15 expressed in 2021 prices and result in a 5.3 per cent poverty rate in 2022-23, the World Bank said in a report. In India, the report said, 54,695,832 people lived on less than USD 3 per day in 2024. Thus, the poverty rate at USD 3 ...Read More >
Pune: Hospitals in Pune have started reporting an increase in dengue cases among children following recent heavy rainfall and intermittent showers. Conditions are now ripe for mosquito breeding, experts said, as they warned citizens to ensure there's no waterlogging or stagnant pools near homes and offices. "Dengue is typically seen first in children as they often play outside," said Dr Sagar Lad, a senior neonatologist and pediatric intensivist at Jehangir Hospital and Sahyadri Hospital, Shastrinagar. Dr Lad said he's seen at least three children admitted for dengue this week, with all of the ...Read More >
Mumbai, June 29 (SocialNews.XYZ) It was a belligerent, brilliant, and breathtaking performance from the Chennai Bulls, who were crowned the first ever champions of the Rugby Premier League, here in Mumbai, at the Shahaji Raje Bhosale Sports Complex. The Chennai Bulls thrashed the Delhi Redz by a scoreline of 41-0 in the final, to clinch the title. In fact, the margin of victory is the biggest across Season 1 of the GMR RPL. Meanwhile, the Hyderabad Heroes, who had finished top of the table in the league stage, came away with a third-place finish, after they won 17-12 against the Bengaluru Bra ...Read More >
Bhubaneswar: Chief minister Mohan Charan Majhi on Thursday announced an ambitious plan of planting 7.5 crore saplings across the state within a year. Speaking at the state-level celebration of World Environment Day at the OUAT Agriculture Education Hall in city, the CM emphasised the importance of public awareness and collective responsibility in protecting nature and ending plastic pollution. "A healthy environment is essential for a healthy society," he said.Addressing the rising threat of single-use plastic, the CM urged citizens to support a mass movement to eliminate plastic from daily li ...Read More >
Patna (Bihar) [India], June 29 (ANI): Rashtriya Janata Dal leader (RJD) Tejashwi Yadav on Sunday slammed the National Democratic Alliance (NDA), while countering the ruling alliance's 'Jungle Raj' jibe, saying that their 'tactics of spreading fear are not going to work'. The State faces assembly elections later in the year. Addressing at the Vaishya Representative Conference in Patna, Tejashwi Yadav questioned Chief Minister Nitish Kumar-led NDA alliance in Bihar over trade and asserted that never talk about those issues but only about jungle raj. 'We have been in opposition for the last 20 ...Read More >
Chennai, June 30 (SocialNews.XYZ) Tamil Nadu Chief Minister M.K. Stalin on Monday flagged off Chennai's first fleet of low-floor electric buses from the Metropolitan Transport Corporation's (MTC) Vyasarpadi depot, marking a significant step towards greener urban transport in the city. A total of 120 electric buses, worth Rs 207.90 crore, have been introduced under the Chennai City Partnership Programme and Chennai Sustainable Urban Services Programme, with support from the World Bank and Asian Infrastructure Investment Bank. Inaugurating the upgraded electric bus depot at Vyasarpadi, develop ...Read More >
Guwahati, Jul 2 (PTI) The opposition Congress on Wednesday demanded a CBI inquiry into the alleged sale of 90 Gir cows from an Assam government project to individuals, including the wife of a BJP minister, MP and several MLAs. Addressing a press conference here, senior Congress leader Ram Prasad Sarmah alleged that funds are available for ministers and MLAs, but not to support 'gaushalas' (cowsheds) to look after the cows. "There have been widespread irregularities and corruption in the Gorukhuti agricultural project. There is a clear mismatch in the statements made by Padma Hazarika, the pr ...Read More >
NEW DELHI: Despite India making progress in organ transplantation, and being a sought-after transplant tourism destination for patients from abroad, the country still faces challenges in achieving equitable access for all its citizens, especially those living in remote areas, said a latest Lancet study. The study stressed that India needs stronger government investment, better data collection, improved public sector capacity, and policies to reduce financial and geographic barriers. India, placed in Category 4 along with South Africa, witnesses most transplants in private hospitals concentrat ...Read More >
Hyderabad: Thousands of people who gathered at ashoorkhana in Dabeerpura on the 10th day of Muharram (Youm-e-Ashura) took part in the Bibi-ka-Alam procession. The procession commenced from Dabeerpura on an elephant and concluded at Chaderghat. The Shia mourners took out the procession to mark the martyrdom anniversary of Prophet Mohammad's grandson, Imam Hussain, on the 10th day of Muharram. Members of the Shia sect performed matam and participated in processions. The 10th Muharram is the day on which Imam Hussain was martyred in the battle of Karbala by Yazid and his army. The relic made of ...Read More >
CHENNAI: India emerged as a key architect of the BRICS agenda -- driving local-currency trade, global governance reform, green investments, and digital regulation. These developments offer strong tailwinds for sectors spanning finance, infrastructure, technology, agriculture, and clean energy. With India set to assume BRICS Chairmanship in 2026, its businesses are well-positioned to capitalise on newfound opportunities. Following are some of the highlights from the Summit as far as such opportunities are concerned: National Currencies BRICS leaders, including India, endorsed increasing trad ...Read More >
New enrollments to the government's Employees' Provident Fund Scheme rose 5.5 percent for women in the second quarter of FY25 from Q2FY24, even as new enrollments for men shrunk during this period India's formal labour market may be showing signs of cooling off in the second quarter of FY25, but a Moneycontrol analysis shows that women have done better than their male peers. New enrollments to the government's Employees' Provident Fund scheme increased 5.5 percent for women in the second quarter of FY25 in last one year, even as 1.6 percent fewer men joined in in this period, shows data rele ...Read More >
Bhopal, June 5 (SocialNews.XYZ) Senior BJP leader and Madhya Pradesh Cabinet Minister for Urban Development, Housing and Parliamentary affairs, Kailash Vijayvargiya stirred controversy on Thursday with remarks disapproving of women wearing short outfits, asserting that such a trend is a foreign concept of beauty and not aligned with Indian tradition. A six-time legislator and a state government minister, Vijayvargiya emphasised that in Indian culture, women are regarded as a form of Goddess and should dress in a manner that reflects grace and dignity. Comparing cultural perspectives, he stat ...Read More >
Varanasi: Recalling the horrors of Emergency, Union minister of agriculture, farmers welfare and rural development Shivraj Singh Chouhan on Friday accused the Congress of undermining democracy and demanded that the party should apologise to the nation for the excesses committed by it.Recalling his personal experience, he said that the horrors of the Emergency, which tore apart democracy, remain vivid in his memory. "Fifty years ago, in its arrogance and pride, Congress launched a direct assault o ...Read More >