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Ben Zaranko, senior research economist at the Institute for Fiscal Studies, said that the sentiment from the new chancellor to avoid another Mini Budget «serves as a welcome commitment to fiscal transparency», but a future chancellor «determined to misbehave could almost certainly find a way to get around it». Rachel Reeves to introduce 'fiscal lock' law to strengthen OBR powers «The main impact of the bill, if there is one, will be to modestly increase the powers of the OBR vis-à-vis the Treasury,» Zaranko added.  As part of the new chancellor's proposed bill, any economic policy ...

Under the plans the chancellor said billions of pounds of investment could be unlocked in the UK economy from defined contribution (DC) schemes alone and pension pots for savers in defined contribution schemes could be boosted by over £11,000. The review will also look at how to unlock the investment potential of the £360bn Local Government Pensions Scheme (LGPS), which manages the savings of those working to deliver vital local services, as well as how to tackle the £2bn that is being spent on fees. Pension Schemes Bill announced in the King's Speech The announcement comes ahead o...

children on the internet was in 1998 — before Facebook, before the iPhone and long before today's oldest teenagers were born. Now, a bill aiming to protect kids from the harms of social media, gaming sites and other online platforms appears to have enough bipartisan support to pass, though whether it actually will remains uncertain.

Economic Survey 2024 which was tabled by Union Finance Minister Nirmala Sitharman on Monday stated that food inflation based on the Consumer Food Price Index (CFPI) increased from 3.8 per cent in FY22 to 6.6 per cent in FY23 and further to 7.5 per cent in FY24, suggesting a 97 per cent surge in the last two years.

job reservation proposal for locals, the Karnataka government is considering increasing the daily working hours in the IT and ITES sectors to 14 hours, up from the current maximum of 10 hours, which includes overtime. This move comes just days after the state faced a controversy over a jobs-for-locals policy.

HDFC Bank with a target price of Rs 1850. The current market price of HDFC Bank Ltd. is Rs 1607.1. HDFC Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 1222853.50 Crore).

Union Bank of India with a target price of Rs 165. The current market price of Union Bank of India is Rs 136.3. Union Bank of India, incorporated in the year 1919, is a banking company (having a market cap of Rs 103549.86 Crore).

About 8.5 million computers got disabled globally in the great outage that left users of Windows blue-walled last week, as estimated by Microsoft, which makes the operating software. This, the company noted, meant that less than 1% of the world’s devices with Windows got hit by the faulty update installed online by CrowdStrike, a cybersecurity firm.

tech industry body Nasscom said in a report. Despite the increase in investments, however, there was a nearly 50% decline in funding rounds during the first half of this year compared to the second half of last year, Nasscom said in its latest Generative AI tracker.

India regarding the allegations of a plot to assassinate a Sikh separatist in the US that involved an Indian government official has been «respectful» and «effective» because it's being held behind closed doors, according to Jake Sullivan, the National Security Advisor to the US president. In November last year, US federal prosecutors charged Indian national Nikhil Gupta with working with an Indian government employee in the foiled plot to kill Gurpatwant Singh Pannun in New York. Gupta, who was arrested in the Czech Republic in June last year, was extradited to the US on June 14. «We have had a constructive dialogue with India on this issue. And we have made it very clear where we stand on it and what we would like to see. And it's been respectful, and it has been effective, in my view, mostly because it is taking place behind closed doors,» Sullivan said at the Aspen Security Forum in Colorado on Friday responding to a question on allegations related to the assassination attempt on Pannun. India has denied the allegations but has constituted an internal investigations team to look into it.

With the key highlight of the session to be Union Budget by Finance Minister on Tuesday, the Monsoon Session will observe a stormy battle with united opposition, INDIA bloc, set to corner the Centre on issues ranging from the NEET paper leak case and railway safety.

Things seem to be falling comfortably into place for Indian Prime Minister Narendra Modi. Yes, he lost seats in India’s recent general election—but he was, nevertheless, re-elected for a third term. Yes, he is dependent upon allied parties for the first time in his political career.

chicken for himself but told the waiter to bill it as a vegetarian dish. This was treated as quite routine. I was reminded of this while reading Avay Shukla’s memoir of IAS life, 'The Deputy Commissioner’s Dog and Other Colleagues'. Since liquor is not allowed at government dinners, it is simply billed as chicken, he wrote: “A peg of single malt is worth a whole chicken, a Scotch two legs, a shot of rum is equivalent to a wing…” This kind of creativity comes up whenever people find consumption habits constrained. Yes Minister, the British TV serial, depicted this with an episode set in a Middle Eastern country with strict prohibitions on alcohol. So, at an official reception, the British set up a secure communications room where the booze is stored and periodically, the minister and bureaucrats visit it for a ‘message’ from “Mr Johnny Walker from the Scotch Office”, “Mr Smirnoff from the Russian embassy” or “a delegation of Teachers”.

Cryptocurrencies remain largely unregulated across the world. The G-20 Summit in 2023, where India presided as the President, emphasised establishing a collaborative and global network of regulations in cryptocurrencies which gathered steam from the attendees. This has been driven by India’s Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which is yet to be tabled but is becoming an era-appropriate necessity. Presently, cryptocurrencies are taxed at 30% on the earnings, while a further 1% is deducted from earnings. Meanwhile, the focus of the Crypto Bill is to establish a regulated structure in the domain that assists in the creation of official digital currencies.

Karnataka’s only registered union of IT/ITeS sector employees has called for the state government to reconsider its plan to extend the working hours of employees in the IT/ITeS/BPO sector, terming the move “inhuman” and an “attempt to impose slavery”. Karnataka State IT/ITeS Employees Union, which has more than 10,000 members, also said the plan to amend the Karnataka Shops and Commercial Establishments Act, 1961 is an “open challenge” to the 2 million employees working in the IT/ITeS sector in the state.

In the eyes of much of the media, Donald Trump failed to stick the landing with his acceptance speech at the Republican national convention

Nebraska Gov. Jim Pillen has announced a broad tax plan for an upcoming special legislative session billed to cut property taxes in half

Kenyan President William Ruto has appointed the first 11 members of his Cabinet

American Express said Friday second-quarter profits jumped 39% as the credit card company benefitted again from a broad increase in cardmember spending as well as more of its customers carrying a balance

At the start of each session of parliament, a ballot is held to allocate the order in which the first 25 private members' bills will be introduced in the Lords. Bowles' bill placed 14th on the list, and is set to be introduced to parliament on 5 September. 'My bill is lost': Ros Altmann confirms progress on trust cost disclosure reforms undone by general election Fellow House of Lords member Ros Altmann put forward her own bill on the issue earlier this year, and gained cross-party support for her movement, including from Bowles. Her bill was successfully passing through all thr...

Arunachal Pradesh government on Friday tabled a Bill in the Assembly to curb irregularities and the use of unfair means in various public examinations in the state. The Arunachal Pradesh Public Examination (Measures to Prevent Unfair Means in Recruitment) Bill, 2024 has strict provisions for punishment like imprisonment and penalties, debarring of candidates from appearing in recruitment examinations as well as attachment and confiscation of property. The Bill has a provision for special courts for the speedy trial of such offences.