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.
New Delhi: Minister of State for Rural Development Chandra Sekhar Pemmasani on Monday said MGNREGS is the "strongest weapon" against rural unemployment and distress migration, especially during lean agricultural seasons. Addressing senior officials and stakeholders from various states at the first meeting of the ministry's Performance Review Committee for the FY 2025-26, Pemmasani said the scheme has created durable and productive assets, while generating over 250 crore person-days annually. A 'Viksit Gaon' where every family has a pucca house with basic amenities, every village is connected by quality roads, every rural youth has employment opportunities, and every woman is empowered and financially independent is not a distant dream but an achievable reality, the minister said. Talking about the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), Pemmasani said it is the "strongest weapon against rural unemployment and distress migration, especially during agricultural lean seasons". He said the scheme has resulted in the creation of durable and productive assets like farm ponds, check dams, irrigation canals, plantations, anganwadis, rural roads and over 250 crore person-days are generated annually. He said the critical improvements required in the scheme include a shift from wage payment to meaningful asset creation, adopting diversified work, convergence with other development schemes and community participation in work selection.
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 >
Bengaluru (Karnataka) [India], December 13: IIFL Capital Services Limited (formerly IIFL Securities Limited) today announced the unveiling of its state-of-the-art office in Bengaluru, dedicated to wealth management services for High Networth Individuals (HNIs) and Ultra High Networth Individuals (UHNIs). IIFL Capital Services is one of the largest wealth managers in India, with about $30 billion (Rs 2.5 lac crore) worth of assets under management, advice and custody. Also Read | Big score is just around the corner for Steve Smith, Skipper Pat Cummins Backs Star Batter Ahead of IND vs AUS 3rd ...Read More >
In this edition of Frontline Conversations, former Maharashtra Women and Child Development Minister Aditi Tatkare discusses how the Ladki Bahin scheme, which provided direct cash transfers to 2.35 crore women, transformed both the economic landscape and political dynamics of the State. The programme, which distributed Rs.7,500 across five instalments to women earning less than Rs. 2.5 lakh annually, not only empowered women with financial independence but also proved to be a decisive factor in Mahayuti's electoral victory, marking a shift in Maharashtra's traditionally male-dominated political ...Read More >
Meet Venkata Datta, Hyderabad techie, who is set to marry badminton star PV Sindhu The KYC Bubble: How digital ID's could trigger a global collapse 5 reasons why Allu Arjun will become biggest pan-India star with Pushpa 2: The Rule This is world's weirdest hotel where guests stay to get insulted, pay Rs 20000 room rent, it is located in... Vikrant Massey breaks silence on his 'retirement' announcement, says his post was misread: 'I'm not...' After breakup with Arjun Kapoor, Malaika Arora does 'Nain Matakka' with another actor, netizens react Naga Chaitanya-Sobhita Dhulipala wedding: Allu ...Read More >
Jharkhand supplementary budget: The Jharkhand Assembly on Thursday (December 12) passed the second supplementary budget of Rs 11,697.45 crore for the 2024-25 fiscal year. Following the budget's passage, Speaker Rabindra Nath Mahato adjourned the four-day session of the assembly sine die. Finance Minister Radhakrishna Kishore tabled the second supplementary budget, with the largest allocation of Rs 6,390.55 crore directed to the Women, Child Development, and Social Security Department. This significant funding aims to enhance the government's flagship initiative, the Maiyan Samman Yojana. Und ...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: Lieutenant governor VK Saxena has given his approval to the reconstitution of Delhi Building and Other Construction Workers Welfare Board, paving the way for govt to prepare a scheme to provide compensation to the construction workers who lost work due to the implementation of GRAP IV provisions. The board was not in place for the last couple of years. While giving his nod to its reconstitution, LG directed that immediate steps should be taken to implement Supreme Court directions to provide subsistence allowance to workers affected due to restrictions on construction activities be ...Read More >
As per Moneycontrol's calculations, a 7 per cent growth in the remaining two quarters will put India's GDP at 6.5 per cent. The Indian economy would find it challenging to achieve over 7 per cent growth for the fourth consecutive year, economists said. They pointed out that the second-quarter (Q2) Gross Domestic Product (GDP) data, which was announced on November 29, has made the task even more daunting for the government. "A sharper than expected growth slowdown in Q2 has tilted risks to our outlook of 6.8 per cent for the current fiscal downwards," said DK Joshi, chief economist, Crisil. ...Read More >
Chandigarh [India], December 3 (ANI): Punjab Legislative Assembly Leader of Opposition and Congress leader Partap Singh Bajwa on Tuesday, slammed the BJP-led central government for neglecting the interests of farmers in Punjab and Haryana. Bajwa's scathing attack comes amidst growing discontent among farmers in the region, who feel their concerns have been ignored by the ruling party. "Ever since the BJP government has come to power, they have not taken a single decision that is in the interest of the farmers of India, especially the farmers of Punjab and Haryana. It is their fundamental rig ...Read More >
New Delhi, Dec 3 (PTI) Finance Minister Nirmala Sitharaman will commence customary pre-Budget consultations with various stakeholders beginning Friday. As part of the process, she will meet eminent economists on December 6 to seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent recorded in the second quarter of the current financial year. It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector scheduled for December 7, sources said. Union Budget 2025-26 is likely to be tabled in Parliament o ...Read More >
Hyderabad (Telangana) [India], December 12 (ANI): Launching a scathing attack against the Congress-led Telangana government, Bharat Rashtra Samithi (BRS) Working President KT Rama Rao on Thursday called it an "abject failure" and said that Congress party's saga of betrayal is endless. "The Congress party in Telangana has been an abject failure... Their saga of betrayal is endless... They are tampering with the cultural icons, with the Telangana self-respect and pride. I wrote to Rahul Gandhi that we are compelled that when BRS comes back three years later, we will change the name of all the i ...Read More >
New Delhi, Dec 17 (VOICE) Fitness startup Curefit's consolidated loss has increased by 42 per cent to Rs 888.5 crore in FY24 from Rs 625.5 crore in FY23. The company's EBITDA loss surged by 123.4 per cent to Rs 587.97 crore in FY24 from Rs 263.2 crore in FY23. The reason for the increase in the company's loss in the last financial year is the high cash burn. Curefit's advertising and promotion expenditure has increased by 40.67 per cent year-on-year (YoY) basis to Rs 188.5 crore in FY24 from Rs 134 crore in FY23. At the same time, the company's expenditure on legal and professional services ...Read More >
NAGPUR: The state government presented supplementary demands amounting to ₹35,788 crore on the first day of the winter session of the state legislature. This has taken the total sum in supplementary demands presented in the current fiscal to ₹1,30,677 crore, including ₹94,889 tabled in July this year. The supplementary demands tabled so far are 19.43% of the state's budget, and the percentage is expected to go up further, after the last supplementary demands are tabled in February-March 202 ...Read More >
Infosys has announced an average 85% performance bonus for eligible employees in Q2 FY25, reflecting its strong financial performance. The bonus, paid to mid- and junior-level staff, will be credited with the November salaries, with individual payouts varying based on performance. This follows Infosys' impressive 4.7% rise in Q2 net profit and a revenue increase of 5.1%, leading to an upward revision of its FY25 revenue guidance. The bonus payout surpasses the previous quarter's 80%, with Infosys outpacing rivals like TCS. Employees are also awaiting salary hikes, with revisions expected from ...Read More >
H.E. Josel Francisco Ignacio, current Ambassador of the Philippines to India shares his credentials with President Droupadi Murmu On 16 November 1949, the Philippines and India, the two independent democracies would forge diplomatic ties. The two republics were born just a few years apart, first set out on the road to their bilateral friendship and collaboration. This inaugurated a period of closer government interaction, commerce and investment, and other bilateral and multilateral cooperation. Building on much common ground in history, democratic ideals, socio-economic imperatives and aspi ...Read More >
Heavy rains across Tamil Nadu have led to school closures in several districts, including Chennai, on Thursday. The India Meteorological Department (IMD) has issued a yellow alert, predicting moderate rains and light thunderstorms in parts of the state. Rainfall figures show significant precipitation in multiple areas. Meanwhile, Northern India braces for a cold wave beginning December 9, with the IMD forecasting plunging temperatures in Rajasthan, Punjab, Haryana, and Uttar Pradesh.Schools acros ...Read More >
Bihar's infrastructure has seen a 15-fold increase in data consumption over the past five years. Road density is now the third highest in India, electricity generation has increased tenfold, and IT parks and data centers are being developed. Numerous bridges and expanded rail lines are improving connectivity and boosting trade.Bihar has seen a 15-fold jump in data consumption in the last five years as the state goes big on developing infrastructure, investing in connectivity and building rail and ...Read More >
New Delhi, Dec 18 (PTI) Net direct tax collection grew 16.45 per cent year-on-year to over Rs 15.82 lakh crore till December 17 this fiscal, buoyed by higher advance tax mop-up, government data showed. Advance tax collection during the period rose 21 per cent to Rs 7.56 lakh crore. The collection includes corporate tax of over Rs 7.42 lakh crore and non-corporate tax mop-up of Rs 7.97 lakh crore. Securities Transaction Tax (STT) of Rs 40,114 crore was collected between April 1-December 17 of current fiscal year. Refunds worth Rs 3.39 lakh crore were issued during the period, registering a ...Read More >
Markets opened on a cautiously optimistic note on Wednesday, with the Sensex and Nifty showing marginal gains, while investors closely monitored global economic indicators and upcoming domestic policy decisions. The Sensex opened higher at 81,036.22 from its previous close of 80,845.75 and is currently trading at 81,168.92 as of 9.45 am, up by 323.17 points or 0.40 per cent. Similarly, the Nifty opened at 24,488.75 compared to its previous close of 24,457.15 and is now at 24,558.20, rising by 101 ...Read More >
BHUBANESWAR : Unable to regulate retail price of the potato even after normal flow of the tuber from West Bengal and Uttar Pradesh, the state government has decided to provide the kitchen essential to consumers at a subsidised rate through the National Agricultural Cooperative Marketing Federation of India Limited (NAFED). In the first phase of its market intervention initiative, the state government has procured 60 tonnes of potato from Uttar Pradesh through NAFED and the same will be available ...Read More >
Ranchi, Dec 12 (PTI)The Jharkhand Assembly on Thursday passed the second supplementary budget of Rs 11,697.45 crore for the 2024-25 fiscal. After this, the four-day session of the assembly was adjourned sine die by Speaker Rabindra Nath Mahato. Finance Minister Radhakrishna Kishore tabled the second supplementary budget, allocating a maximum outlay of Rs 6,390.55 crore to the women, child development and social security department to boost the government's flagship scheme Maiyan Samman Yojana. Under this scheme, the state government initially provided Rs 1,000 per month to women between the ...Read More >
Chief Minister Mohan Yadav, campaigning to invite global investors to the Global Investors Summit to be held in Bhopal in February 2025, addressed an interactive session with industrialists during a roadshow in London, UK, on Tuesday. Yadav praised the dynamic leadership of Prime Minister Narendra Modi for the rapid industrial development seen across India. Inviting the industrialists to invest in Madhya Pradesh, he highlighted that the state possesses one of the largest land banks in the country. Madhya Pradesh has transparent and investor-friendly policies and is a leader in the mining and ...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, Dec 4 (PTI) With funds under the flagship MGNREGS stalled for West Bengal for more than two years now, Rural Development Minister Shivraj Singh Chouhan on Wednesday said the Centre is not discriminating against the state, which he blamed for not complying with the Union government's directives. The funds for West Bengal under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) have been stopped since March 2022 due to non-compliance of directives of the Central government, according to the Ministry of Rural Development. Asked what is the way forward, Chouhan sa ...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 >
By diluting a part of its stake, or by selling shares worth $500 million, Prosus made gains of over $2 billion just from betting on Swiggy. Food tech and grocery delivery company Swiggy reported a revenue of $750 million (around Rs 6,300 crore) in the first half of financial year 2025 (H1FY25), up 40 percent from $536 million (about Rs 4,500 crore) recorded during the same period last year, Prosus, one of the company's largest shareholders, said in its half yearly disclosures. During the same time, its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) improved ...Read More >
The report highlighted that the investors appear to be exercising caution, reflecting a shift in confidence toward new market entrants. It said, "A mix of disappointing IPO listing and a sharp decline in market sentiments has resulted in reduction in IPO subscription in last 2 months." The report stated that during the current financial year (FY2024), 54 IPOs have been listed, of which 38 are trading above their issue price, suggesting a mixed performance. It added that the historical data from July 2020 to November 2024 provides a broader view, out of 252 IPOs launched during this period, ...Read More >
Bhubaneswar: In response to the ongoing supply issues with West Bengal, the Odisha government has announced an ambitious plan to cultivate potatoes on 15,023 hectares of land. Deputy Chief Minister KV Singh Deo outlined the initiative during a recent Assembly session, emphasizing the need to boost local production to mitigate the impact of the supply disruption. The Deputy CM highlighted that steps have been taken to increase potato production in key districts such as Cuttack, Kandhamal, Keonjhar, Sundargarh, and Koraput. These districts are known for their favorable conditions for tuber cul ...Read More >
Jharkhand Governor Santosh Gangwar on Wednesday (December 11, 2024) said all-round development of the State's people is possible only with mutual cooperation between the Centre and the State. The newly elected government will work to carry forward the healthy tradition of the federal structure, Mr. Gangwar said while addressing the maiden session of Jharkhand Assembly. "All-round development of the people of the State is possible only with mutual cooperation between the Centre and the State. We all are in favour of this belief. Our government will work to carry forward the healthy tradition ...Read More >
Bengaluru, Dec 12 (VOICE) The Panchamasali quota row has added to the woes of the Congress-led Karnataka government facing a series of charges of alleged cases. Even as the state government is putting a brave face by defending the police action against protestors demanding quota for the Panchamasali Lingayat sect, sources confirmed that the grand old party is deeply worried about the polarisation of the influential Lingayat community. Chief Minister Siddaramaiah had managed to guide the Congress to achieve a simple majority in 2008, as the Lingayat vote bank was divided between the BJP and t ...Read More >