Country Financial News

Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman said that the pre-bugdet document highlighted the prevailing strengths of India's economy.

Domestic airlines cancelled 7,030 scheduled flights this year till May 31, according to the civil aviation ministry. The carriers are to operate 4,56,919 scheduled departures in 2024, as per the data submitted by the ministry to the Rajya Sabha on Monday.

Donald Trump’s recruitment of Ohio Sen. J.D. Vance as his running mate may be about the worst news the country could receive on the heels of the former president’s brush with a would-be assassin’s bullet.

Railways has increased by 77 per cent over the past five years with significant investments in the construction of new lines, gauge conversion and doubling, the Economic Survey 2023-24 said on Monday. According to the survey tabled in Parliament by Finance Minister Nirmala Sitharaman, in the financial year 2019-2020, the capital expenditure was 1.48 lakh crore which was increased to ₹2.62 lakh crore in 2023-24.

Nirmala Sitharaman tabled the Economic Survey 2023-24 in the Parliament today. The Survey, authored by Chief Economic Advisor V Anantha Nageswaran and his team, highlighted the initiatives taken by India to address climate change and energy security.

Reliance Industries and banking stocks. The 30-share BSE Sensex fell 103 points, or 0.13%, to settle at 80,502. The broader NSE Nifty dropped 22 points, or 0.09%, to end at 24,509.

In July 1944, exactly 80 years ago, representatives of 44 countries met in an obscure New Hampshire village to negotiate the Bretton Woods Agreement that established the International Monetary Fund (IMF). For many, reaching the ripe old age of 80 would be cause for celebration. For the IMF, the anniversary only highlights the urgency of reform.

Last night (21 July), Biden announced he was pulling out of the 2024 election, following weeks of internal Democratic and punditry pressure to withdraw. Biden, who took the White House office in 2020, said in a letter addressed to «my fellow Americans», that it had been the «greatest honour of my life to serve as your president». «While it has been my intention to seek re-election, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as president for the remainder of my term,» he said. Investors not expect...

5G networks in the world, and post-the launch of 5G services, India's international rank on mobile broadband speeds has improved from 118 to 15 in March 2024, the Economic Survey 2023-24 said Monday.

Chinese challenge. The Economic Survey has called it the Chinese Conundrum. The Survey highlights that it would be wrong to presume that India will automatically take over the manufacturing space vacated by China due to changes in global supply chains.

Economic Survey 2023-24 tabled by Finance Minister Nirmala Sitharaman in Parliament on Monday.

AI), trade protectionism, resource-hoarding, excess capacity and dumping, and onshoring production are restricting the potential of countries to squeeze out growth from manufacturing and services; so the agriculture sector can be a growth engine for India and the world, the Economic Survey 2024 said.

IT sector and a significant presence of high-net-worth individuals (HNIs) have made Hyderabad a prime target for cybercriminals. In 2023, Telangana reported the highest share of malware attacks in India, accounting for 15% of the country's total, according to the latest India Cyber Threat Report.

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.

India’s historic spending on education over the last 10 years has hovered around 3% of GDP. While calls for increasing the spending on education increase each year, the government has an unspent balance of 7000 crores from the previous budget.

Mint. “It will be remiss if we don't take advantage of the talent pool here." This comes at a time when tech hiring in India is slowing. Many IT firms and startups are downsizing or tightening their purse strings, offering low compensation and hikes.

In a surprising development, President Joe Biden declared on Sunday that he would not seek re-election. This decision throws the Democratic nomination into uncertainty just months before the November election against former President Donald Trump.

Budget 2024 approaches, anticipation is building across various sectors in India. Each year, the budget sets the stage for economic policies and resource allocations that significantly impact the country's growth trajectory. This year, there is a heightened focus on how the budget will address key areas such as technological innovation, infrastructure development, and social welfare. Industry expectations Vijay Navaluri, Co-founder & Chief Customer Officer, Supervity, highlights the AI sector's optimism for policies that will further stimulate growth and innovation. He underscores the importance of the government's continued support for AI and related technologies to drive the industry forward. Navaluri expects the budget to prioritize investments in AI, particularly in enhancing AI-based education and skill development through partnerships between educational institutions and industry. This, he believes, will ensure a steady pipeline of skilled professionals who can contribute to various sectors, including healthcare, agriculture, and urban planning.

Last week, speaking at the Defense News Conclave: Stories of US-India Defense and Security Partnership in New Delhi, the US envoy to India, Eric Garcetti invoking the qualities of “trusted friends” remarked that the bilateral relationship is still “not yet deep enough” to be taken for granted and emphasised that “there is no such thing as strategic autonomy” during a conflict. Garcetti stressed that in times of conflict, strategic autonomy gives way to the necessity of acting together as trusted friends, understanding each other's equipment, training, systems, and even as human beings.

trade agreement (FTA) between the two countries, AEPC said on Sunday. The Apparel Export Promotion Council (AEPC) said to tap the growing potential, they are leading a delegation to participate in the India Tex Trend Fair (ITTF) in Tokyo. The three-day fair will begin from July 23 and over 200 exhibitors are participating. Some of the renowned Japanese brands, including Sumitomo Corporation, MUJI, Toyoshima, Marubeni, Mitsubishi, Koyo trading, United Arrows, MYK Fashion will be there to source their requirements, it said.