2024 Financial News

NEW DELHI : The government is in the final stages of creating special purpose vehicles for the Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) parks to boost the textile sector. All formalities to establish SPVs will conclude early next year, two officials aware of the development said.

Netflix has a promising 2024. It has lined up a lot of new shows and quite a good number of old shows are returning in 2024. But there are few popular shows that will not come back in 2024. A look at them: Wednesday season 2

Ever since breaking the downtrend in late October this year, the Mina Protocol has gone from strength to strength.

Reliance Jio has launched the Happy New Year 2024 prepaid plan at a price of ₹2,999 and with an additional validity of 24 days. The changes to the ₹2,999 plan have brought down the effective cost per day for customers from ₹8.21/day to ₹7.70/day. The plan offers a validity of 365 days and total data of 912.5GB, which is offered at 2.5GB/day at 4G speeds, after which the speed is reduced to 64kbps.

Fed hiked interest rates by 5.5% — this, with “quantitative tightening program” of reduction in balance sheet, resulted in multi-decade high interest rates in the US and around the world. As a result, the foreign portfolio investor (FPI) flows turned negative on emerging markets like India, leading to significant outflows and putting downward pressure on Indian equities at the start of the year. The year started with the persistence of inflation at elevated levels across economies, continuing geo-political uncertainties and tightening financial conditions.

In the dynamic world of cryptocurrencies, the emergence of new and innovative tokens regularly reshapes the market landscape. Shiba Inu (SHIB) has been a remarkable success story, capturing the imagination of investors worldwide. However, as we move towards 2024, a new contender is emerging, poised to rival and potentially match SHIB’s market cap: Retik Finance (RETIK). This ambitious DeFi platform is not just another cryptocurrency; it represents a paradigm shift in how digital finance is perceived and utilized.

XRP, Ripple’s native token, has resumed its upward movement, rising by over 2% over the past day generating a whopping $1.19 billion trading volume.

Hai Tayyar Hum'. “Congress will blow the conch for the Lok Sabha elections 2024 during the rally", said Jairam Ramesh. "Party president Mallikarjun Kharge and MP Rahul Gandhi clearly stated that we are ready for seat sharing and want the INDIA alliance to be united and strong.

Nirmala Sitharaman will be presenting her sixth Budget in 2024. The Budget will be presented on February 1, 2024. The upcoming Budget will be for the next financial year (starting April 2024 to March 2025) i.e. FY25.

Web3 has been riding high, powered by burgeoning investments, regulatory advancements, and the impending Bitcoin halving, historically synonymous with increased adoption for robust projects. These with a shift in perceptions that collectively steer us toward an exciting outlook for 2024 and beyond. Regulations Regulatory developments have taken center stage in 2023 with evolving frameworks and enhanced clarity. The evolution of regulatory frameworks in the crypto domain has been remarkable this year, resonating with a global shift toward acceptance over prohibition. The narrative has transformed from mere curiosity about Bitcoin to a resounding endorsement of permissionless ecosystems like Web3. This paradigm shift underscores the recognition of the immense potential of Web3 in propelling economic growth and innovation. In these ecosystems, innovation thrives, and communities are building the next generation of the internet. Account Abstraction This groundbreaking innovation simplifies onboarding into Web3 by abstracting user accounts into smart contract accounts. It has taken the crypto wallet world by storm. With its ability to simplify user onboarding and enhance security, account abstraction is poised to be a game-changer in 2024. NFT Revolution NFTs transcended their initial association with digital art, finding applications in gaming, real estate, and IP. With the emergence of new standards addressing concerns like copyright and environmental impact, the NFT revolution is far from over. Get ready for even more diverse and impactful use cases in 2024.

₹50 lakh, for assessment year (AY) 2024-25. The I-T Department notified the forms on Friday. “Changes introduced in new ITR forms 1 and 4 notified for Assessment Year 2024-25.

As we approach the end of 2023, the Indian real estate market is experiencing robust growth and heightened sentiments, particularly in the residential segment. Investor and buyer preferences have undergone a paradigm shift, significantly shaping the trajectory of the realty market. The residential sector has been a beacon of stability, demonstrating substantial growth potential throughout 2023.

Investors are facing a myriad of uncertainties that pose substantial risks to the stability and performance of global markets – but as ever where there are risks, there are also significant opportunities.

As major economies of the world grappled with recession, Indian economy witnessed significant growth across sectors on the back of strong fundamentals, robust demand, and government-led investments. As per IMF’s World Economic Outlook Report in October 2023, Indian economy expanded by 7.2% in FY23, the highest amongst major economies of the world. Following the same trend, it is anticipated to grow by 6.3% in FY24 compared to 3% growth in the world economy. As a result, the real estate sector, which contributes significantly to India’s GDP and registered heightened real estate activities during the current year, is expected to maintain its growth momentum in 2024 as well.

The Nifty IT index has given a staggering 25% returns year-to-date (YTD) despite periods of downturns, outperforming the benchmark Nifty 50 by more than 7%. Similarly, the BSE IT index has rallied more than 26% in 2023, compared with the 16% gains in Sensex. But if one looks at the performance of the sector, then the outperformance is not broad-based among stocks. Smallcap stocks have given stellar returns and outperformed the largecap peers by a wide margin. Atleast 19 smallcap IT stocks gave multibagger returns of upto 513% in 2023, data by Ace Equity showed.

Ajit Banerjee, Chief Investment Officer of Shriram Life Insurance Company says he is positive about the domestic market for 2024 and expects the foreign capital inflow to continue. Edited excerpts: Indian markets have undisputedly been one of the best-performing markets in the world in the calendar year 2023 (CY23).

As we bid adieu to 2023, the crypto industry stands at a pivotal juncture, having witnessed a myriad of events that have reshaped the landscape. In an exclusive conversation with Gracy Chen, the Managing Director of Bitget, we explore the highs and lows of the crypto industry in the past year, discuss the regulatory developments, and get a glimpse into the company’s strategies for the future.

During 2023, the largecap indices in India saw significant rallies. However, the current returns on these indexes for one- and two-year horizons remain lower than the corresponding long-term averages. Returns on mid and small cap indices, on the other hand, have been much greater than the respective long-term averages.

last Budget before general elections, Santosh Singh, fund manager of Motilal Oswal AMC, doesn't anticipate a multitude of significant announcements to be made. Apart from his expectations from the interim Budget and government's focus on manufacturing and development, he deconstructs the stupendous spike shown by the market and its likely reasons. Among many positive things likely to happen next year, the IT sector is expected to beat the expectations, says Santosh Singh in an email interview with Mint.

2024 Lok Sabha elections. The party which was unable to repeat its government in Karnataka, was able to wrest power from Congress in Rajasthan and Chhattisgarh and comprehensively retain power in Madhya Pradesh. BJP deployed its 'Modi ki Guarantee' tactic which ensured a sweep in Hindi Heartland states.

Wall Street strategists are issuing forecasts for the performance of the stock market in 2024. Pay them no mind. The predictions are usually wrong, and when they're right it's only by accident. Consider their prophecies for 2023. At the end of 2022, strategists predicted that the S&P 500 would end 2023 at 4,078, a gain of 6.2% from where it started, according to data from Bloomberg. At the moment, the market is above 4,700, a gain of more than 22%.