Healthcare Financial News

Section 80D of the Income-tax Act of 1961 allows for the deduction of certain medical expenses and premiums for health insurance policies from your taxes. The limit under section 80D has remained unchanged for the past several years. Taxpayers who have opted for the old tax regime are hoping for an increase in the limit under section 80D in the upcoming Budget scheduled for July 2024, considering the significant rise in healthcare costs. Documents required for ITR filing: 10 documents you need to file income tax return «India faces a severe issue with inadequate insurance. When a family's primary earner passes away, the money left for the survivors to live and settle debts is usually less than nine percent of what's actually needed. Changing tax sections 80C and 80D to provide separate tax breaks for the life-threatening risk part of term life plans could help close the gap in death risk coverage and enhance social security,» said Satishwar B., MD and CEO, Bandhan Life.

NEW DELHI:The upcoming budget for 2024-25 will unveil major economic reforms and present a roadmap for Viksit Bharat, the government’s push to propel India towards ‘developed nation’ status by 2047, President Droupadi Murmu said addressing the joint session of Parliament on Thursday.“Along with significant economic and social decisions, this budget will include many historic steps as the government prepares to present its first budget in the forthcoming session. It will be an effective document outlining the government’s far-reaching policies and futuristic vision," Murmu said.Union finance minister is expected to present the budget for financial year 2024-25 next month.Murmu said reforms in infrastructure development, manufacturing and industrial policy, digital economy, green energy transition, agriculture, healthcare, and financial sectors have helped strengthen India’s economy.Also read |Unemployment and inflation call for revising budget priorities“In a decade, India has risen from the 11th to the 5th largest economy," Murmu said.

MUMBAI : India has long relied on global giants for medical devices to equip a healthcare network burdened by a lack of doctors, expensive treatments, and inadequate technology. Now, domestic medtech firms are taking the fight to their international peers, attracting interest from top-tier global investors and pharmaceutical giants. According to Indian government estimates, India is the fourth-largest market for medical devices in Asia.

Global Liveability Index 2024. Find out which cities make the cut and why they shine as the best places to call home. For the third year in a row, Vienna, Austria, has been crowned the world's best city to live in. With flawless scores in stability, healthcare, and education, Vienna is lauded for its unparalleled mix of cultural vibrancy and top-notch public services. Meanwhile, according to the report, Pakistan’s Karachi, and Bangladesh’s capital Dhaka are amongst the least liveable cities in the world as they feature in the bottom 10 of the list.

Amartya Sen, commenting on the recent Lok Sabha election, said on Thursday that the results indicate India is not a 'Hindu Rashtra'. He criticised the practice of incarcerating people without trial, which he said has persisted from the British era and has become more prevalent under the BJP government compared to the Congress regime. Sen also addressed issues of wealth disparity, political openness, and secularism. Sen arrived in Kolkata from the US on Wednesday evening and shared his views with a Bengali news channel at the Netaji Subhas Chandra Bose International Airport. «That India is not a Hindu Rashtra only has been reflected in the election results,» Sen remarked.

AI specialists to address. This phenomenon can lead to confusion and decision-making delays, posing significant challenges in fields heavily reliant on Artificial Intelligence.

Dr. Reddy’s said in the statement.The Hyderabad-based company will inherit the global nicotine replacement therapy (NRT) brand Nicotinell with a footprint in over 30 countries spanning Europe, Asia including Japan, and Latin America, along with the brand Nicabate, Habitrol and Thrive in markets outside of the US.“…The portfolio is attractive for its customer loyalty, its global nature, and the access it provides to key customers," said Israeli."We believe we can unlock more value, grow the portfolio further, and increase consumer access around the world to these global brands.

1 Furthermore, given its varied impact on individuals, management plans are tailored to each person's unique needs, giving them a personalised approach that considers not just the disease itself but also their unique lifestyle, health history, and individual needs. With advancements in our understanding of diabetes, both doctors and patients are changing how they approach its management. Gone are the days of a generic treatment plan; instead, there is a growing emphasis on creating customised strategies that empower individuals to be proactive about their health. Taking care of diabetes requires ongoing attention and dedication. Although it may seem overwhelming initially, with time, you will gain a better understanding of how to manage the condition and become more attuned to your body's needs.

₹7 lakh, wider tax slabs, and lower surcharges for the super rich. However, the last three budgets have not seen any new benefits or deductions under the old regime to reduce taxpayers' net tax liability or provide additional incentives for investments or certain expenses. It is clear that the government aims to encourage taxpayers to switch to the simpler new tax system.

Quant Mutual Fund, which is under Sebi’s investigation for a suspected front-running case, was sitting with around Rs 9,355 crore cash pile in May, an analysis by ETMutualFunds showed. This was around 12.41% of the total AUM. The total equity AUM of the fund house was Rs 66,052 crore. The fund house has around 21 equity mutual fund schemes. Of these 21 schemes, four schemes had more than Rs 1,000 crore cash in their portfolio. Quant Small Cap Fund had the highest cash allocation of Rs 1,607.37 crore. The total equity AUM of the small cap schemes is Rs 19,635 crore as on May 2024. Also Read | Why investors should not panic or stop SIP in Quant Mutual Fund after front-running crisis

Beetel Teletech on Tuesday said it has signed a deal with Alcatel-Lucent Enterprise to distribute the French company's product portfolio, including its networking and communications solutions such as network switches, wireless access points and routers. «By combining Alcatel-Lucent Enterprise's world-class product portfolio with our deep understanding of the Indian market, we are well-equipped to deliver unmatched value to enterprises across various critical sectors,» said Sanjeev Chhabra, managing director at Beetel, said in a joint statement.

Stock market today: Balaxi Pharma shares witnessed strong buying interest among Indian stock market bulls. The small-cap pharma stock opened upside at ₹120.90 per share and touched an intraday high of ₹129.45 apiece, recording an intraday high of over 7 percent during Tuesday deals.

Beckn-ONIX (Open Network in a Box), an open-source stack that enables rapid deployment and configuration of Beckn-enabled networks through a virtual appliance, can now allow anyone to build an open network in minutes, ensuring faster rollouts of networks, be it in agriculture, energy, healthcare or ecommerce, said a company executive. Created by the Bengaluru-based non-profit Foundation for Interoperability in Digital Economy, the Beckn protocol powers e-commerce networks like the Open Network for Digital Commerce (ONDC). Launching a basic open network involves setting up a registry, gateway, consumer app, and provider app, and can typically take a month to a few weeks.

Cloudphysician, an online healthcare and technology solutions provider, has raised $10.5 million (about Rs 87.7 crore) in a funding round led by Peak XV Partners. The round also saw participation from Elevar Equity and venture debt firm Panthera Peak.

Bata has appointed Meeru Gupta as general counsel and head of legal. An alumnus of Delhi University, Gupta had served previously as Varun Beverages – RJ Corporation, where she led the legal practice, formulated litigation strategies and managed cross-border acquisitions. Over two decades veteran Gupta started her career with Reliance Energy (BSES Rajdhani Power Ltd.) in 2004. Subsequently, she joined Philips India as manager in its legal department in 2008 and rose to became director Legal and Compliance. At Philips India, she was instrumental in key decision-making processes across the Lighting, Consumer Lifestyle, and Healthcare divisions, said the company in its statement.

Investing in the stock market can be both rewarding and challenging. Investors often face the dilemma of choosing between active funds and index funds. While index funds offer simplicity and low fees, active funds provide a dynamic approach that can be particularly advantageous during market corrections. 

«There will always be some slowdown or pickup in the economy, but I do not envisage a material and a broad-based general slowdown from a pure macro perspective,» says Vinay Paharia, CIO, PGIM India Mutual Fund. There is a sense in the market that maybe some amount of fatigue maybe actually coming in with all triggers playing out and there is, in fact, some concern that first quarter numbers may actually not be that great. Is that a legitimate concern? Vinay Paharia: You will have to look at concerns from a different angle. From a broad macroeconomic perspective, we are clearly cruising at high speed. There will always be some slowdown or pickup in the economy, but I do not envisage a material and a broad-based general slowdown from a pure macro perspective.

eInfochips, an Arrow Electronics company, a provider of product engineering and digital transformation services, announced that two of its client engagements have been recognised as Standout Case Studies by ISG, in the energy and healthcare, and life sciences categories within the North American region. According to a statement, eInfochips was recognised for its contribution to the development of ELSA, a “Brilliant Assistant” smart surgical display platform designed to streamline workflows and integrate AI into operating rooms. ELSA has delivered significant value, with the client SoftAcuity, a medical technology provider, estimating a tenfold increase in ROI, highlighting the transformative impact of this solution. According to ISG, this case study showcases collaborative new product development driven by specialised technological and engineering expertise.

Edited excerpts from an interview: How does the equity capital market and M&A landscape look like to you? India is rapidly emerging as a top contender in global equity capital markets. The Indian equity markets have delivered consistently about 8-10% USD CAGR returns over the last 20 years. This momentum has strong tailwinds thanks to the strong macroeconomic environment, earnings growth trajectory, and equity market inflows especially from domestic mutual funds (MFs).

Democrats in California have agreed to delay a minimum wage increase for about 426,000 health care workers to help balance the budget

Hindujas, have said they are «appalled» by a Swiss court's ruling of jail terms for some members and have filed an appeal in a higher court challenging the verdict finding them guilty of exploiting vulnerable domestic workers from India employed at their villa in Geneva. A spokesperson for the affected family members, Kamal and Prakash Hinduja and their son Ajay and his wife Namrata — who are all Swiss nationals, pointed out on Saturday that neither of them have been subjected to any «imprisonment, conviction, sentence or detention.» «Per Swiss law procedures, the lower court's judgement is rendered ineffective and inoperative as the presumption of innocence is paramount until and unless a final judgment by the highest adjudicating authority is enforced,» the family's spokesperson said. «It may be noted that the case has no complainants left anymore and they had declared in the court that they were led into signing statements that they didn't even understand. They had neither intended to nor initiated such proceedings. All of them further testified that the four Hinduja Family Members treated them with 'respect, dignity and like family',» the spokesperson added.