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.
Bengaluru: The state govt has released draft rules for the Gig Workers' Welfare Board, introducing a system that allows aggregators and gig-work platforms to self-declare their contributions to the welfare fund -- marking a key step in operationalising the state's social security push for the gig economy.The draft, issued on June 30, lays out detailed mechanisms for calculating, declaring and depositing the welfare fee, while also allowing voluntary contributions under corporate social responsibility (CSR). It comes amid a nationwide debate over the rights and protections of gig workers, many of whom fall outside the traditional labour laws. Gig workers -- defined as individuals engaged in temporary, flexible or project-based work -- are set to be covered under these rules through a dedicated welfare board, with the govt overseeing compliance.According to Section 17 of the draft rules, "the collection of welfare fee shall be undertaken by the state govt within 30 days from the end of each quarter".Further, it mandates that the aggregator shall, within 30 working days of the end of each quarter, automatically calculate the welfare fee and self-declare a fee equivalent to 1-5% of each payout made to the gig worker, to be notified by the govt from time to time. This gives aggregators flexibility in the contribution process, but also ties them to a clear timeline and percentage cap for compliance.In cases of miscalculation or overpayment, the draft provides a refund mechanism. "In case of any excess or incorrect contribution of the welfare fee, the aggregator shall claim refund from the board within 90 days," the rules state.In a notable incentive to encourage wider support for the fund, the draft allows aggregators to make additional payments over the statutory requirement, as part of their CSR obligations. "Voluntary contributions over and above the mandatory welfare fee towards the Karnataka gig workers' social security, as a CSR initiative under the Companies Act-2013, can qualify for income tax deductions under the provisions of the Income Tax Act-1961," the draft rules state.Penalty & recoveryHowever, the rules also lay out penalties for non-compliance. If an aggregator fails to deposit the welfare fee within the stipulated time despite receiving a notice, it will be fined, with recovery mechanisms clearly outlined.To ensure transparency, the rules mandate robust data management. Aggregators are required to maintain detailed records of welfare payments and ensure their availability to the authorities. The draft also proposes the creation of an internal dispute resolution committee to address the grievances of gig workers related to welfare contributions.The draft is currently open for public consultation, and stakeholders can submit objections or suggestions before the rules are finalised.
* Commoditisation and similarity of products and services with competitors will have the most significant impact on how businesses deliver customer experiences over the next two years, according to the latest IDC InfoBrief commissioned by Affinidi * However, businesses who are looking to hyper-personalise their products as a competitive differentiator are facing several obstacles in addressing the privacy-personalisation dilemma, with 56% of them highlighting data collection and management to be a key challenge. * To truly enhance customer experiences through more personalised insights, they m ...Read More >
Today marks a milestone for New Zealand's port and maritime sector as the Approved Code of Practice for Loading and Unloading Cargo at Ports and on Ships (ACOP) officially comes into effect. The launch was celebrated by Workplace Relations and Safety Minister Hon Brooke van Velden and Associate Minister of Transport Matt Doocey, signaling a significant step towards enhancing workplace safety across the industry. The ACOP addresses long-standing inconsistencies in safety practices across the country's commercial ports, providing clear and consistent safety standards for workers and businesses. ...Read More >
New Delhi [India], June 6 (ANI): Aadhaar number holders carried out over 211 crores authentication transactions, pushing the total number of such transactions since Aadhaar's inception to more than 15,223 crores (152.23 billion), according to a release by the Ministry of Electronics & IT. The ministry reported that the transaction in May 2025 saw more transactions, as compared to the same month last year, when 201.76 Cr such transactions were carried out. This growth in number is a reflection of how Aadhaar-based authentication has been playing a facilitating role in effective welfare delive ...Read More >
New Delhi, Jun 5 (PTI) Fintech firm BimaPay Finsure on Thursday said it has entered into corporate insurance financing and aims for Rs 20 crore in premiums in 2025-26. Launching the pilot phase with insurance partners, BimaPay said the initiative will allow businesses to pay premiums in easy equated monthly instalments (EMIs) instead of bearing the burden of full upfront costs. Also Read | Who Is Pinaki Misra? From Age to Family Background and Net Worth, Here's All About BJD Leader With Whom Mahua Moitra Reportedly Married. The company aims to finance over Rs 20 crore worth of premiums by t ...Read More >
New Delhi, Jun 27 (PTI) Union Labour Minister Mansukh Mandaviya on Friday announced renewal of a scheme to promote registration of employers and employees to expand Employees' State Insurance (ESI) coverage across India. Originally introduced in 2016, SPREE (Scheme to Promote Registration of Employers/Employees) has facilitated the registration of over 88,000 employers and 1.02 crore employees. The renewed SPREE will be open from July 1 to December 31, 2025, offering a one-time opportunity for unregistered employers and left-out workers, including contractual and temporary staff, to enrol un ...Read More >
Hyderabad, June 27 (UNI) Telangana Employment and Labour Minister G Vivek Venkata Swamy announced on Friday that the state government is preparing to bring in a comprehensive policy and legislation to safeguard the rights and welfare of gig workers. Addressing the media at the Secretariat, the Minister said the government is actively considering the formation of a special board dedicated to gig workers' rights. He mentioned that 66 suggestions have been received so far during consultations with stakeholders, and these will form the basis of the proposed law. "There are already laws in pla ...Read More >
NEW DELHI: Fairfax Financial Holdings on Thursday named former civil servant Amitabh Kant as a senior advisor. Kant, who recently stepped down as India's G20 sherpa, will help Fairfax India pursue its plans in the country."Amitabh has outstanding experience in many of the key areas that India intends to grow significantly in coming years, but what we really value is his high integrity and alignment with the values of Fairfax. We look forward to working with him to further enhance Fairfax's long-term objectives, delivering lasting value for our investors and stakeholders, while upholding our co ...Read More >
Mumbai, June 27 (SocialNews.XYZ) Bollywood actor Ayushmann Khurrana joins names such as Kamal Haasan, Ariana Grande, and Jeremy Strong at the Academy of Motion Picture Arts and Sciences this year. Ayushmann along with names such as Kamal Haasan Naomi Ackie, Gillian Anderson, Branford Marsalis, Conan O'Brien, Jimmy Kimmel, Stephen Graham, Jodie Comer and Jason Momoa are among 534 individuals who were invited to join the Academy of Motion Picture Arts & Sciences on June 26. "We are thrilled to invite this esteemed class of artists, technologists, and professionals to join the Academy," said Ac ...Read More >
New Delhi, Jul 2 (PTI) The Delhi High Court on Wednesday asked the Drug Controller General of India to consult experts and relevant stakeholders in deciding a plea over drug combinations sold in the market for weight loss treatment. A bench of Chief Justice D K Upadhyaya and Justice Tushar Rao Gedela asked the petitioner to give a representation to the DGCI, which was asked to decide the matter within three months. Also Read | 'Janaki' Title Row: Malayalam Film Industry Holds Protest in Front of CBFC Office Against Renaming of Suresh Gopi Film. A plea filed by Jitendra Chouksey said license ...Read More >
Kolkata, July 5 (SocialNews.XYZ) The West Bengal unit of BJP, under the leadership of its new State party President Samik Bhattacharya is making all efforts to ensure a political rally in the state, with Prime Minister Narendra Modi addressing it, before Trinamool Congress's annual Martyrs' day rally in Kolkata on July 21. An insider from the state committee of BJP said that the week before July 21, the Prime Minister is scheduled to go for an election campaign in Bihar where the Assembly polls are scheduled later this year. "We are trying hard so that the Prime Minister can spare some time ...Read More >
New Delhi: In a welcome departure, the Union Public Service Commission (UPSC) is adopting a more student-centric approach aimed at reducing the stress of aspirants. In an exclusive interview with ETV Bharat, UPSC chairman Ajay Kumar unveiled a wide-ranging roadmap of reforms -- aimed at reducing stress, enhancing exam transparency, detecting forgery with tech tools, and building inclusive platforms that empower deserving candidates beyond the exam results. "The UPSC Civil Services Examination is one of the most prestigious and competitive examinations in the country. Naturally, the demands ar ...Read More >
New Delhi: The Municipal Corporation of Delhi continued to show lacklustre results in the Swachhta Survekshan. In the assessment of cities with populations exceeding 10 lakh (or million-plus cities) for 2024-25, it placed 31st out of 44. This follows the 2023-24 performance in which Delhi ranked 90th among 446 cities in the category of urban areas with populations above one lakh. MCD had aspired to rank in the top 10 in this category in 2024-25, but fell far short.Mayor Raja Iqbal Singh argued that until last year, the Aam Aadmi Party was at the helm in MCD and no progress was reported in vari ...Read More >
Mumbai (Maharashtra) [India], June 6 (ANI): NSE Sustainability Ratings and Analytics, a defunct subsidiary of the stock exchange NSE, has launched ESG ratings services for listed companies. It marks a significant milestone in advancing sustainable business practices in India. Also Read | Startup Growth in India: Country Now Has 1.76 Lakh Registered Startups and 118 Unicorns, Says FM Nirmala Sitharaman. NSE Sustainability focuses on assessing Environmental, Social, and Governance (ESG) performance, providing stakeholders with vital information to make informed decisions. The company NSE Sus ...Read More >
Govt looking to provide life and accident benefits to gig workers Platform or gig workers will likely get life and accident insurance covers in addition to health insurance if the government goes ahead with its plans for the social security corpus. "We are mulling a proposal to extend life and accident insurance benefits from the fund that aggregators would contribute to. A portion of the fund would be utilised for these benefits, while the remainder would be secured for future social safety ne ...Read More >
New Delhi, June 30 (SocialNews.XYZ) Delhi Chief Minister Rekha Gupta on Monday said the government is taking concrete steps to make the national capital pollution-free and green. "Public transportation is being rapidly converted to electric vehicles, which will not only reduce pollution but also provide Delhi residents with clean and affordable transportation," said CM Gupta in a post on X. Elaborating on steps being taken to clean the city's air, she said, "Dust pollution is being effectively controlled at construction sites and major roads through technologies like smoke guns and sprinkler ...Read More >
Thiruvananthapuram: Ravada A Chandrasekhar took charge as the new State Police Chief on Tuesday. He succeeds Shaik Darvesh Saheb, who retired on June 30. His tenure will run until July 1, 2027. A 1991-batch IPS officer currently serving as Special Director with the Intelligence Bureau, Chandrasekhar is on central deputation. He was selected over Nitin Agarwal, who topped the official list of probables. The appointment order, issued by Kerala Chief Secretary Dr A Jayathilak on behalf of the Governor, was released soon after a cabinet meeting held on Monday. Hailing from Andhra Pradesh's Godav ...Read More >
Karnataka: With a steady increase in the tiger population at the Male Mahadeshwara Hills (MM Hills) Wildlife Sanctuary, Karnataka's Forest, Ecology and Environment Minister Eshwar B Khandre has directed officials to begin the process of declaring the region a tiger reserve. He emphasized the need to first collect public opinion from the local communities before proceeding with formal proposals. Chairing a high-level meeting with senior forest officials, including the Principal Chief Conservator of Forests and Chief Wildlife Warden, at Vikasa Soudha today, Minister Khandre instructed the depar ...Read More >
Bareilly (UP), Jul 17 (PTI) A teacher from Bahedi district, who went viral recently after reciting a poem mentioning Kanwar Yatra, approached the police on Thursday stating a threat to his life from anti-social elements. A case has been registered at Bahedi police station based on a complaint from Dr Rajneesh Kumar Gangwar, a teacher at MGM Inter College in the district. According to Circle Officer Arun Kumar Singh, Gangwar's complaint says that ever since his recitation of the poem 'Tum Kanwad Lene Mat Jana, Gyaan Ka Deepak Jalaana' (You don't go get Kavad, light the lamp of knowledge inste ...Read More >
New Delhi [India], December 12 (ANI): The gross NPA ratio of public sector banks declined to 3.12 per cent in September 2024 from 4.97 per cent in March 2015 and a peak of 14.58 per cent in March 2018, the government stated on Thursday, reaffirming the robustness of the banking system. The government emphasised its proactive support for the banking ecosystem, addressing both business needs and employee welfare to ensure stability, transparency, and growth. Also Read | Places of Worship Act Validity: Supreme Court Restrains Courts in Country Not to Entertain, Pass Orders on Suits Related to R ...Read More >
New Delhi, January 31: The unveiling of the Economic Survey on Friday sets the stage for Finance Minister Nirmala Sitharaman to present the Union Budget for 2025-26 in Parliament on Saturday (February 1), which is expected to continue the government's policy of giving a big push to economic growth with equity. The government has prioritised improving the quality of life in rural areas to ensure equitable and inclusive development, according to the Economic Survey 2024-25. The survey highlights financial inclusion as a key focus, with rural households and small businesses getting easier access ...Read More >
Srinagar, Jul 02: The Polit Bureau of the Communist Party of India (Marxist) has opposed the approval of the Employment Linked Incentive (ELI) Scheme by the Union Cabinet. The party, in a statement issued here, condemned the scheme as a "move to divert public funds to large corporate entities". It accused the BJP-led central government of cronyism and favouring corporate interests at the expense of workers. "The CPI(M) describes the ELI scheme as a deceptive initiative that claims to promote job creation, employability, and social security but, in reality, facilitates precarious employment b ...Read More >
RAIPUR: In response to widespread protests and reports over an advisory issued about a month back over Forest Rights Act (FRA 2006) that limited the constitutional powers of Gram sabhas. Chhattisgarh Forest Department on Thursday clarified that the letter was only intended as a temporary procedural advisory due to the absence of a model management plan for Community Forest Resource Rights (CFRR) areas. "Our intention was never to curtail community rights," Principal Chief Conservation of Forest (PCCF) & Head of Forest Force (HoFF) Srinivas Rao told TOI. "The advisory aimed to ensure ecological ...Read More >
Baramulla, Jul 5: Hundreds of mourners from Delina and its neighbouring villages Saturday participated in the Muharram procession, the 9th day of the month of Muharram-Ul-Haram at Delina area of north Kashmir's Baramulla district. The procession was one of the series of processions being held in the month of Muharram, the first month of Islamic calendar. Dressed in black and carrying flags bearing religious inscriptions, participants from the villages of Hygam, Bulgam, Bohripora, Syedpora, Uri, Boniyar and other villages marched from new Imambargah through the National Highway NH-1 to the ma ...Read More >
MUMBAI : The annual information statement (AIS), introduced by the Income Tax Department to enhance transparency, is instead creating hassles for taxpayers by reporting incorrect incomes, according to chartered accountants. Introduced in 2021, the AIS gives a snapshot of financial transactions -- ranging from securities and mutual funds to property deals and fixed deposits -- during a fiscal year, sourced from multiple reporting entities such as banks, registrars, depositories, and sub-registrars. Available on the Income Tax e-Filing portal, the AIS complements the form 26AS by providing an ...Read More >
New Delhi, June 5 (SocialNews.XYZ) To mitigate delays in poll data dissemination, Chief Election Commissioner Gyanesh Kumar on Thursday approved a technology-driven system to generate Index Cards and various statistical reports after elections. The upgraded mechanism replaces the traditional manual methods, which were often time-consuming and prone to delays, said an official. Index Cards form the foundation for generating about 35 Statistical Reports for Lok Sabha elections and 14 for state Assembly elections, he said. "By leveraging automation and data integration, the new system ensures ...Read More >
As Prime Minister Narendra Modi completes 11 years of his tenure, senior Advocate and former President of Supreme Court Bar Association Adish Aggarwala has come up with a book capturing this journey. The book titled 'Modi's Niti Shastra: The World's His Oyster' reflects upon the Prime Minister's transformative impact in politics, economics, social equity, citizen welfare, national security, and governance. Home Minister Amit Shah praised the release of the book, calling it "a matter of abundant ...Read More >
Srinagar- A local court in Jammu and Kashmir on Friday dismissed a case of Model Code of Conduct (MCC) violation filed against PDP leader and MLA Waheed-Ur-Rehman Parra in connection with a roadshow he held during last year's Lok Sabha elections in Pulwama district. The case, registered under Section 188 of the Indian Penal Code (IPC), was dismissed by Additional Special Mobile Magistrate Awantipora, Muneer Ahmad Bhat, who ruled that no cognisance of the offence could be taken due to procedural lapses in the chargesheet. Parra, the PDP candidate from Srinagar parliamentary constituency, was ...Read More >
New Delhi, July 17 (SocialNews.XYZ) Seven bills have been listed for consideration and passing ahead of the Parliament monsoon session scheduled from July 21, while eight other bills have also been listed for introduction, consideration and passing. Bills listed for introduction, consideration and passing belong to finance, commerce, education, sports, mining and culture. These bills include the Manipur Goods and Services Tax (Amendment) Bill, 2025, the Taxation Laws (Amendment) Bill, 2025, and the Jan Vishwas (Amendment of Provisions) Bill. The key objectives of these bills are to amend the ...Read More >
New Delhi, Jun 6 (PTI) The government on Friday launched the UMEED portal that would create a digital inventory after geo-tagging of all Waqf properties with Minority Affairs Minister Kiren Rijiju calling it a historic step that would ensure that community-owned Waqf assets are utilised effectively and fairly for poor Muslims. The UMEED central portal, short for Unified Waqf Management, Empowerment, Efficiency and Development Act, 1995 will serve as a centralised digital platform for real-time uploading, verification, and monitoring of Waqf properties. Also Read | How To Activate Your UAN On ...Read More >
Pune: State govt is set to conduct a comprehensive verification of beneficiaries under the Mukhyamantri Mazhi Ladki Bahin Yojana, leveraging income tax return data from the Central Board of Direct Taxes (CBDT) to ensure that the monthly Rs 1,500 aid reaches only economically weaker women.A notification issued by the CBDT on June 3 authorises the secretary of the state women and child development (WCD) department to access income tax (I-T) data under Section 138 of the Income Tax Act, 1961. The department has already formed a team to review the existing list of 2.5 crore applicants. Officials s ...Read More >