County Union Financial News

Srinagar Assembly Elections 2024: Jammu and Kashmir will be holding its first assembly elections since the BJP-led central government abrogated Article 370, which gave the union territory a special status. The Election Commission is likely to announce dates for the assembly elections on Friday.

₹2,550 crore (about $30.5 million) in the Union budget for 2024-25. These CoEs aim to position India prominently on the global AI stage through foundational and multidisciplinary research and the development of core AI technologies. Similarly, the National AI Mission aims to build and support our AI ecosystem through a combination of public expenditure and supportive policies.

NEW DELHI : India had 162 million demat accounts as of June, and 93 million SIP (systematic investment plan) accounts as of July—a strong indicator of increasing financialization in the country. Still, there are places where terms like “Sensex" or “Nifty" are foreign to people. Kargil, in the Union territory of Ladakh, over 200 kilometres from Srinagar, is one such place.

The union that represents train engineers says Union Pacific is holding back on its promises to make their schedules more predictable

Jammu and Kashmir Lieutenant Governor Manoj Sinha on Sunday said the Election Commission has the exclusive right to decide the schedule for Assembly elections in the Union Territory. However, he expressed hope that the democratic exercise would be conducted soon in Jammu and Kashmir, which has been under the central government rule for over six years after the fall of the PDP-BJP government in 2018. Talking to reporters after inaugurating the newly constructed building of the Malaviya Mission Teachers Training Centre at the University of Jammu, LG Sinha also referred to Prime Minister Narendra Modi's remarks during his visit to Srinagar in June that the Assembly elections will be held soon and the statement of Home Minister Amit Shah in Parliament on August 5, 2019 that delimitation will be followed by Assembly polls and then statehood at an appropriate time. «It is happening in the same sequence… I hope the Assembly elections will take place soon,» Sinha said.

creamy layer in the reservation for SCs and STs in the Constitution given by B R Ambedkar. The Union Cabinet, at a meeting chaired by Prime Minister Narendra Modi, held a detailed discussion on the Supreme Court judgement on the sub-categorisation of reservation for SCs and STs as granted in the Constitution. «It is the well thought view of the Union Cabinet that the NDA government is firmly committed to the provisions in the Constitution given by Dr Babasaheb Ambedkar,» Information and Broadcasting Minister Ashwini Vaishnaw told reporters here. He said there was a detailed discussion in the Union Cabinet meeting on a recent Supreme Court judgement that made certain suggestions on the reservation for the Scheduled Castes (SC) and Scheduled Tribes (ST).

While it is not easy to find stocks at reasonable valuations in a bull market, Vishal Jajoo, Fund Manager – Equity, ITI Mutual Fund, says growth stocks in India would continue to command a premium for the visibility in earnings that they offer. “The risk of not being in the markets is much higher than the risk of being in the markets. We continue to advocate disciplined investing in markets with a medium to long term view,” Jajoo says.

Gajendra Singh Shekhawat on Wednesday said that political instability in Bangladesh is unfortunate as an elected government was toppled there but government of India is vigilant against any negative impact of the situation here. The minister while speaking on sidelines of a function here in Srinagar said that a country cannot chose it's neighbours but ensured that the borders of India are safe and secure. «Undoubtedly this is unfortunate that there is political instability in our neighborhood and an elected government was toppled like this. An individual can chose everything but not his neighbour,» said Shekhawat. He further stated that «GoI is vigilant and keeping a tab on the situation in the neighborhood keenly. We are aware to fact that this situation (in Bangladesh) should have no negative impact on India.»

Amit Singh Negi has been appointed additional secretary in the PMO as part of a major top-level reshuffle effected by the Centre. A 1999-batch Indian Administrative Service (IAS) officer of the Uttarakhand cadre, Negi is currently joint secretary in the Department of Expenditure under the Union Ministry of Finance. He has been appointed as additional secretary in the Prime Minister's Office (PMO), according to an order issued by the personnel ministry. Samir Ashwin Vakil, a 1998-batch Indian Revenue Service (Income Tax) officer, has been appointed director in the Serious Fraud Investigation Office (SFIO) under the Union Ministry of Corporate Affairs for a tenure of five years, it said.

Bihar Chief Minister Nitish Kumar, his former mentor, with failure to secure tangible benefits for the state despite the BJP's dependence on him to retain power at the Centre. Kishor alleged the JD(U) boss was fretting over his party's share in the Union council of ministers and using his clout with the BJP to settle scores with detractors at the state level, instead of leveraging his position to rehabilitate the state industrially. «People are talking about special status for Bihar. I ask why Nitish Kumar could not press for the restoration of 20 sugar mills that have been moribund for years? He has been in power for nearly 20 years which shall be remembered for wasted opportunities,» the IPAC founder told reporters here.

Rajya Sabha by the government to a question on the MGNREGS, TMC MP Derek O'Brien on Sunday claimed the BJP-led Centre in its response has «finally» accepted that West Bengal has been given «zero» funds under the 100-day rural employment guarantee scheme. The TMC and its Lok Sabha MP Abhishek Banerjee have been demanding a white paper on the scheme to prove what the Centre had paid to West Bengal since the BJP's loss in the 2021 state assembly polls, Rajya Sabha member O'Brien said in a post on X. «Finally! Modi govt admits inside Parliament that Bengal's been given zero for MNREGA funds,» O'Brien said in a post on X, sharing the July 26 reply that gave state and UT-wise data of the last five financial years on the number of households that have completed 100 days of employment under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS). In West Bengal, the number of households that completed 100 days of wage employment was «zero» in 2023-24, according to the written reply given by Union Minister of State for Rural Development Kamlesh Paswan in the Upper House of Parliament.

retail investors' derivative market bets may help the banking system garner the much-needed deposits, SBI Chairman Dinesh Kumar Khara has said. Khara said the budget announcements like the tweaks on the short-term and long-term capital gains will not lead to much gains from a deposit accretion perspective. «F&O (future and options) kind of things are being discouraged for the retail (investor) by the regulator. Those who are resorting to such kind of an instrument, they might come back to the banking system,» Khara told PTI over the weekend. It can be noted that concerns over losses incurred by 90 per cent of investors in the derivative trades have led to fears of household savings being blown in speculation rather than being deployed for productive purposes among policymakers.

Mint in the week gone by. Top executives and early investors in Ola Electric Mobility are poised to reap significant gains as the company prepares to be listed on the stock exchanges. Meanwhile, the Securities and Exchange Board of India (Sebi) is concerned about the rapid growth in derivatives trading.

Next, Decathlon, Primark, GAP, Walmart, Pepco, and Tesco are planning to ramp up sourcing from India, industry executives told ET.

India is moving towards a new fiscal policy framework. Finance minister Nirmala Sitharaman said in the Union budget announced earlier this month that after 2025-26, the government will try to keep the fiscal deficit at a level “such that the central government debt will be on a declining path as a percentage of GDP." What does this mean? India currently has a fiscal law that expects the Union government to keep its annual fiscal deficit below 3% of gross domestic product (GDP).

Wisconsin Republicans are asking voters to take away the governor’s power to unilaterally spend federal money, a reaction to the billions of dollars that flowed into the state during the COVID-19 pandemic

K C Venugopal. The reports claimed that Venugopal attended a programme organised by a bank employees' union in his constituency, Alappuzha, on July 27, where the name of former Pakistan President Pervez Musharraf was allegedly included in the list of prominent personalities to be paid tributes.

₹6,404 crore in the June quarter (Q1FY25), up more than 200% year-on-year. This whopping increase was driven by the launch of the second phase of the luxury project Privana West in New Gurugram. The project was fully sold out, with bookings of ₹5,600 crore.

gold prices have shown ferocious moves compared to equities. Investors and traders need to be calculative while making investment decisions at this time. Gold had given 16% return in year-to-date 19 July 2024, compared to the 14% return given by the Nifty 50 index – the most widely tracked gauge of stock market performance. However, Union Finance Minister Nirmala Sitharaman announced a sharp cut in import duties to 6% from 15% earlier on gold, in Union Budget 2024. This pulled down the price of yellow metal. Compared to Rs 72,718 per 10 gram on MCX on 22 July 2024 the gold prices went down to Rs 68,510 by end of 23 July 2024 – the day of budget announcements, and then went to hit a low of Rs 67,462. Equities on the other hand tanked for a while due to increase in taxation of capital gains, but quickly recovered to go higher. These price gyrations baffled many investors. A look at the drivers of price change however should help to take a more informed decision.

Congress on Saturday said the treatment meted out to West Bengal Chief Minister Mamata Banerjee at a NITI Aayog meeting here was «unacceptable». The opposition party's scathing criticism of the government think tank came after Banerjee walked out of the 9th Governing Council meeting of the NITI Aayog, claiming she was unfairly stopped midway through her speech.