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: The Centre is expected to introduce the Viksit Bharat -- Guarantee for Rozgar and Ajeevika Mission (Gramin) Bill, 2025 (VB-G Ram G Bill) in the Lok Sabha this week. The proposed legislation seeks to replace the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). The Bill proposes to increase guaranteed wage employment for rural households from 100 days to 125 days in a financial year. A major shift under the new framework is a revised fund-sharing pattern, under which states will be required to bear a larger share of the scheme's financial responsibility. As per the Bill, the Centre and states will share costs in a 60:40 ratio for all states and Union Territories with legislatures. However, for North-Eastern and Himalayan states, including Uttarakhand, Himachal Pradesh, and Jammu and Kashmir, the funding pattern will remain 90:10 between the Centre and the states. Under the existing MGNREGA framework, the Central Government bears the full cost of wages for unskilled manual work, up to three-fourths of material costs, and three-fourths of wages for skilled and semi-skilled workers. While the new Bill alters the funding structure, it retains the existing wage rates as notified under Section 6 of the MGNREGA. The proposed legislation also provides for the constitution of a Central Gramin Rozgar Guarantee Council and State Gramin Rozgar Guarantee Councils to oversee, review, monitor, and effectively implement the scheme. In addition, steering committees at the Central and state levels will be set up to recommend matters related to normative allocations, convergence, and other operational issues. Another significant provision allows states to pause implementation of the scheme during peak agricultural seasons. The Bill empowers states to notify specific periods covering sowing and harvesting seasons during which works under the scheme will not be undertaken, to ensure adequate availability of farm labour. The Bill also proposes a special schedule of rates for vulnerable groups, including women, the elderly, persons with disabilities, and those with debilitating ailments, to enable their participation in suitable categories of work. Further, it retains the provision for a daily unemployment allowance if employment is not provided within 15 days of application. State governments will bear the cost of the unemployment allowance and delay compensation. In cases where wages are not paid within 15 days of closure of the muster roll, workers will be entitled to compensation at the rate of 0.05 per cent of unpaid wages per day beyond the sixteenth day.
IMPHAL, Nov 17: The NPP on Sunday withdrew support from the BJP-led Government in Manipur, even as violence continued to rock the state as offices of the Congress and the saffron party were ransacked in the hill district of Jiribam where an unidentified body was found earlier in the day, officials said. Follow the Daily Excelsior channel on WhatsApp A BJP MLA's ancestral house was vandalised in Imphal Valley while a building owned by Ashab Uddin, the Independent legislator of Jiribam, was ransacked, officials said. The incidents occurred a day after irate mobs set fire to the residences of ...Read More >
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 >
Srinagar, Nov 27 (UNI) Jammu and Kashmir's Road Transport Corporation (RTC), a crucial backbone of public transportation, has raised serious concerns over the barring of its buses from entering Srinagar city limits. The move has triggered alarm within the Corporation, with officials cautioning about significant disruptions to public transport services and daily commutes, alongside substantial financial losses for the RTC. The restriction, in effect since November 4 when the maiden session of the Assembly commenced, is causing a daily revenue loss of Rs. 4 lakh to the Corporation. In a lette ...Read More >
New Delhi: The Supreme Court on Tuesday said the Karnataka government and the Centre should resolve the issue in connection with the release of financial assistance from the National Disaster Response Fund (NDRF) to the state for drought management. The matter came up before a bench comprising justices B R Gavai and K V Viswanathan. Attorney General R Venkataramani, appearing for the Centre, requested the bench that he needed some time to file an affidavit in the matter. "You should resolve it," the bench said. During the hearing, the bench queried, how much amount has been released so far? ...Read More >
BJP member Manas Dutta blamed the previous BJD government and held it responsible for not extending their service agreement which ended in April, 2024. As hundreds of women working as support staff under the Mission Shakti department staged a demonstration outside the Assembly over different issues, the opposition BJD on Monday demanded immediate release of their salaries. While the agitating women were shouting slogans at the Mahatma Gandhi Road leading to the Assembly, the issue was raised in ...Read More >
The 10 MLAs, including seven from the BJP, held the sit-in-protest at Jantar Mantar. (Representational) Reiterating their demand for a Union Territory for tribals in Manipur, 10 MLAs from the Kuki-Zo community held a sit-in protest in New Delhi on Tuesday and submitted a memorandum to Prime Minister Narendra Modi, seeking his intervention to stop the violence in the state, which began in May 2023. The 10 tribal MLAs, including seven from the BJP, held the sit-in-protest at Jantar Mantar and the ...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 >
Concerned about the targeting of religious minorities in Bangladesh, the Trinamool Congress has urged the Indian government to request United Nations peacekeeping forces be dispatched. Sudip Bandyopadhyay raised the issue in Lok Sabha during Zero Hour, citing attacks on Hindus. The silence of the Indian government was criticized. The Trinamool Congress has expressed deep concern over the ongoing targeting of religious minorities, particularly Hindus, in Bangladesh. On Tuesday, they called upon the central government to request that the United Nations dispatch peacekeeping forces to the countr ...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 >
Srinagar: Continuing their efforts to combat the drug menace, the Jammu and Kashmir Police on Thursday seized two vehicles of peddlers in Srinagar city. A police statement said, "Continuing its efforts to eradicate the menace of drugs from the society, police in Srinagar have seized two vehicles acquired through proceeds of illegal narcotics trade. Srinagar Police have seized two vehicles, a Corolla bearing registration number DL4CNE 6086 and a BMW bearing registration number JK01AF-0047 in case FIR No. 36/2024 u/s 8/21 NDPS Act of Police Station Chanapora from the accused person namely Muda ...Read More >
Pointing to the increase in the country's stature in the world forum, he asked how, under these circumstances, the promises made to farmers cannot be fulfilled. "Policy-making is not on right track," he added.. Jagdeep Dhankhar's comments come amid a spike in farmer protests. Vice President Jagdeep Dhankhar took up the farmers' issue and questioned the government on their behalf today, directing most of his queries at the Union agriculture minister. Pointing to the increase in the country's sta ...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 >
Proceedings in both houses of the Parliament came to halt on Wednesday amid protests by Oppostion members over the Adani Bribery controversy, recent violence in Sambhal in Uttar Pradesh and other issues. Lok Sabha proceedings were initially adjourned until 12 noon and later until Thursday, as Opposition members, including those from Congress, protested and sought to raise various issues at the start of the session. Some members from the Congress and Samajwadi Party were in the Well while other Opposition members stood in the aisle and shouted slogans. The Opposition members wanted to discus ...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 >
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 >
The BJP has accused Rahul Gandhi of collaborating with "anti-India international forces," citing a Mediapart report on OCCRP's funding and Gandhi's meetings with alleged Modi government critics. The party highlighted the timing of reports critical of India coinciding with parliamentary sessions, including those on farmers, Pegasus, Hindenburg, and the BBC documentary.BJP on Thursday accused Lok Sabha's Leader of Opposition Rahul Gandhi of colluding with 'anti-India international forces'. The ruli ...Read More >
JAMMU, Nov 17: Maharashtra police along with Military Intelligence and Army have arrested nine persons hailing from the border district of Rajouri for taking up jobs as security guards in different cities in Maharashtra and carrying weapons with fake licenses. Nine 12-bore rifles and 58 bullets have been recovered from their possession. Follow the Daily Excelsior channel on WhatsApp The arrests were made during a joint operation of Ahilyanagar (formerly Ahmednagar) police in Maharashtra, Southern Command and Military Intelligence on the basis of tip off that some persons from Rajouri distric ...Read More >
New Delhi, November 26: Prime Minister Narendra Modi on Tuesday said that the government at the Centre has strengthened the spirit of the Constitution over the last 10 years. Addressing the Constitution Day celebrations at the Supreme Court, PM Modi highlighted that in the last 10 years, more than 53 crore bank accounts were opened, more than 4 crore pukka houses were given and more than 10 crore free gas connections were given. "In the last 5-6 years, by providing tap water facilities in more than 12 crore houses, the government made the lives of citizens easy, particularly of women," he sai ...Read More >
The Indian government has announced a 375km rail network expansion, aimed at enhancing economic growth and connectivity in North Maharashtra, Madhya Pradesh, and Uttar Pradesh. With a total cost of approximately Rs79.27bn ($1.05bn), these projects are aimed to be completed within four years. Union Minister of Railways, Ashwini Vaishnaw, detailed the Cabinet Committee on Economic Affairs' approval of three railway infrastructure projects. The projects include the Jalgaon-Manmad fourth line (160 km), Bhusawal-Khandwa third and fourth lines (131km), and the Prayagraj (Iradatganj)-Manikpur thir ...Read More >
Srinagar (Jammu and Kashmir) [India], December 2 (ANI): Jammu and Kashmir National Conference (JKNC) President Farooq Abdullah claimed that Muslims are feeling unsafe and stated that there is no discrimination based on religion, as guaranteed by the Constitution. The former Chief Minister of Jammu and Kashmir also said that the government should treat Muslims without any discrimination. "...There is no doubt that Muslims are feeling unsafe. I will ask the govt of India to stop that. 24 crore Muslims cannot be thrown into the ocean. They (the govt) should treat Muslims equally, there is no di ...Read More >
Kolkata: The Enforcement Directorate (ED) conducted raids at multiple locations in West Bengal in connection with irregularities in the medical admissions in the state under the non-resident Indian (NRI) quota. The irregularities in medical admissions come after a major recruitment scam in Bengal in 2022, where former Education Minister Partha Chatterjee and his close aide were arrested. The raids and search operations were conducted in multiple locations in the state. ED reportedly started the investigation based on a complaint filed in the Electronic Complex Police Station under Bidhannagar ...Read More >
INDIA bloc MPs, donning black jackets with slogans like "Modi Adani Ek Hai", protested at Parliament demanding a joint probe into the Adani issue. Priyanka Gandhi Vadra accused PM Modi of evading discussion on the "Adani mega scam" while defending Adani's alleged corruption. Rahul Gandhi asserted that Modi won't investigate Adani as it would be like investigating himself.Congress leader Priyanka Gandhi Vadra Thursday said the country's people want the "Adani mega scam" to be discussed in Parliame ...Read More >
Bengaluru: Ex-Karnataka Chief Minister and former External Affairs Minister SM Krishna died here early on Tuesday, leaving behind a rich legacy of statesmanship and public service that saw the 92-year-old leader scale all heights of political achievements. Suave, sophisticated and a man with enviable academic credentials, Somanahalli Mallaiah Krishna started off his political innings as an independent MLA from Maddur in 1962, stunning a then Congress veteran in the elections, and went on to become the state's CM and later the country's External Affairs Minister. Tributes poured in for the fo ...Read More >
NDIA bloc leaders, who submitted a notice of no-confidence motion against the Rajya Sabha Chairman Jagdeep Dhankhar on Wednesday, blamed the chair for not allowing them to speak in the Rajya Sabha. The leaders held a joint press conference labelling several charges against the chairman. "His behaviour (RS chairman) has damaged the dignity of the country. He has brought such a situation in the history of parliamentary democracy that we had to bring this notice for the resolution (of no confidence ...Read More >
Bhopal: The Gita recitation programme by the Madhya Pradesh government has found a place in the Guinness World Records. "More than 7,200 'acharyas' and 'vatuks' collectively recited the third chapter 'Karma Yoga' on Wednesday, making a record," a statement issued by the government said. The event was parallely organised at Bhopal's Lal Parade Ground and Ujjain to mark the sacred occasion of Gita Jayanti. Chief Minister Mohan Yadav said that the collective recitation of the Gita by thousands of Acharyas in Bhopal and Ujjain has been registered in the 'Guinness Book of World Records'. He con ...Read More >
Defying pollsters, exit polls, and predictions, the BJP scored a hat trick in Haryana, albeit with a narrow lead in the recent Assembly election. It formed a government on its own sans any ally, and Chief Minister Nayab Singh Saini assumed office for a second consecutive term with relative ease. But the euphoria did not last long. In the first Assembly session convened after the new government took over, the opposition, led by the Congress and the electorally diminished Indian National Lok Dal, attacked the government on the issue of fertilizer shortages in the sowing season. The government d ...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 >