Metro Financial News

Budget 2024 today, July 23. As the third term of the Modi government begins with a less decisive electoral mandate, there is growing speculation that reducing income tax could be a strategic move for the ruling party in navigating the current political and economic landscape. Acknowledging the significant role played by salaried individuals in contributing to direct tax collections, the government is under pressure to address their concerns as the Budget announcement approaches.

mental health issues among Indians and suggested a bottom-up, whole-of-community approach for addressing the issue.

health and economic outcomes, the survey underscored that mental health issues can have broader impacts on productivity across society than physical health ailments.According to data from the National Mental Health Survey (NMHS) 2015-16, 10.6 percent of adults in India suffer from mental disorders, with a significant treatment gap ranging from 70 to 92 percent for different disorders. Urban metro regions reported a higher prevalence of mental morbidity at 13.5 percent compared to rural areas (6.9 percent) and urban non-metro areas (4.3 percent).Economic Survey 2024 Live UpdatesThe survey also noted ongoing research indicating that individuals aged 25-44 years are most affected by mental illnesses.

social interactions, kindness and politeness have taken a backseat, thanks to the overzealous knight in shining armour, 'chivalry'. Once upon a time, holding doors open and offering seats were acts of decency. But now, these gestures are often viewed through the murky lens of gender politics, transforming simple acts of kindness into patronising, patriocratic statements. Chivalry, with its roots in perceptions of helping out 'helpless' women, is still seen as directed towards women.

RLDA), a statutory authority of Indian Railways, has invited bids for the grant of leases for commercial development of railway land at Kailash Puram along National Highway (NH)-16 in Visakhapatnam, Andhra Pradesh. As per the official statement of the RLDA, the development will consist of 60 per cent residential and 40 per cent commercial. The land, with an approximate area of 4.71 acres (19,061 sqm), will be leased for 99 years with a reserve price of Rs 170 crore. The built-up area (BUA) offered is 91,403.31 sqm. It is also highlighted that the site, with a frontage of approximately 60 metres, is located at Dondaparthi Village, (FMB) Survey No. 11, Seethammadhara Mandal, Visakhapatnam.

income tax bracket, there is hardly any scope for you to save a higher amount as income tax in the new tax regime. However, the old income tax regime still allows you to claim more deductions to bring down your net taxable income and pay much lower income tax. Among these, the deductions on home loan interest and house rent allowance (HRA) are the two prominent avenues to save taxes. However, very few salaried taxpayers claim both these deductions together despite being eligible to do so. We tell you how to claim both these deductions together and save a significant amount of income tax. Here is how these two deductions work:

Mint. Nykaa owns over 27 brands across skincare, cosmetics, and fashion, including Nykaa Cosmetics, Nykd by Nykaa, and Pipa Bella. Purplle, which recently raised ₹1,000 crore from Abu Dhabi Investment Authority and other investors, runs brands like Carmesi, Good Vibes, NY Bae, and Faces Canada.

Budget 2024, scheduled in July, one may expect the government to continue with its objective of moving towards a simplified tax system through the new tax regime (NTR) that was introduced in Union Budget 2020-21. With a view to make the NTR more attractive for individual taxpayers, the government could consider taking measures such as increasing the standard deduction limit from Rs 50,000 to Rs 100,000; including health insurance premium (u/s 80D) in this regime and enhancing the deduction limit available to promote adoption of adequate health insurance cover. Besides, an increase in deduction limit for employer's contribution to the National Pension System (NPS) u/s 80CCD(2) from 10% of basic salary to 14% will be a welcome move. The enhancement of this deduction will ensure parity with the provision applicable for central and state government employees and would provide an option for enhanced tax saving under the new tax regime, along with promoting long-term retirement savings. However, in case the government continues with the old tax regime as an option, it will be important to rationalise some of the tax provisions. One such provision will be to consider Bengaluru as a «metro city» for the purpose of HRA exemption in Budget 2024.

The 33.5 km line will run from Aarey Colony to Cuffe Parade and will have 27 stops. The new line is set to transform urban transit in Mumbai, making travel easier across the city's streets and cutting down traffic congestion, the post further said. Mumbai is set for a transformative change in its transportation network with the launch of its first underground metro line in July.

Union Budget 2024: In a bid to enhance passenger travel experience and facilitate faster speeds, thereby reducing travel time, Finance Minister Nirmala Sitharaman had announced in her interim budget speech earlier this year that 40,000 normal rail bogies will undergo conversion to Vande Bharat standards. This announcement marked a significant boost to India’s railway infrastructure, underscoring its pivotal role in the government’s capital expenditure agenda. The interim budget for fiscal 2024-25 allocated Rs 2.55 lakh crore to Indian Railways. Sitharaman, in her sixth budget speech, proposed a 5.8% increase over the budgetary estimate (BE) of Rs 2.41 lakh crore set for fiscal 2023-24. The revised estimates (RE) for fiscal 2023-24 stood at Rs 2.43 lakh crore, marking a notable commitment to bolstering the railway sector. Once again, this allocation in the interim budget represented the highest ever granted to the national transporter, reflecting the government's steadfast commitment to enhancing railway infrastructure and services across the country.

₹92 crore ($11 million) in a pre-Series A funding round—that gave the company a post money valuation of $55 million—led by early-stage investors such as Blume Ventures, and Antler. Google also participated in the round. The latest fundraise marks the company's first external capital raise since its inception in November 2022.

The net profit for Q1FY25 stood at Rs 313 crore as against Rs 332 crore reported by the company in the corresponding period of the last financial year.

India is likely to see retail digital payments double to USD 7 trillion by 2030 from current levels, a study by Kearney and Amazon Pay said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in online purchases has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well. While 90 per cent of the respondents of the survey preferred digital payments when making online purchases, affluent consumers lead the way with the highest Degree of Digital Payment Usage (DDPU), tending to use various modes of digital payment for 80 per cent of their transactions. «Millennials and Gen X are leading in the adoption of all types of digital payment instruments,» it said. «Men and women both use digital payments in about 72 per cent of their transactions, indicating gender parity.»

The Russian Central Bank will finally expand its digital ruble pilot in September, widening its CBDC’s reach “by tens of times.”

Rail Vikas Nigam (RVNL) and Indian Railway Finance Corporation (IRFC) rallied 15.5% and 9% to their new all-time highs of Rs 567 and Rs 206 respectively on BSE in Monday's trade ahead of the Union Budget, where the focus is likely to be on infrastructure investment. The sentiment around RVNL also remains positive as in the last week, the company signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation (DMRC) for participation in upcoming projects in India and abroad.

tomato price, which soared to Rs 75 per kg in the national capital, is expected to cool in the coming weeks as supply improves from southern states, a government official said on Saturday. The official, who spoke on condition of anonymity, said prices of potato and onion, which also spiked due to supply disruptions, are expected to stabilize soon. «Prices of tomato, potato and onion are ruling high in Delhi and some other cities. Extreme heat followed by spells of excess rainfall disrupted supplies, causing a spike in prices in consuming areas,» the consumer affairs ministry official told PTI. Tomato price in New Delhi has surged to Rs 75 per kg, but is likely to ease if heavy rainfall does not further disrupt supply chains, he said.

Alphacorp has entered into a joint venture to develop a luxury residential project in Gurgaon, with an investment of Rs 350 crore. The company will develop 500,000 sq ft on two 2 land parcels — one 2.38 acre and another 2.36 acre. There will be 29-floors and the company will develop 200 units, expecting a revenue of Rs 600 crore.

MMRDA to evaluate settling the Rs 1,700 crore debt owed by Mumbai Metro One Pvt Ltd (MMOPL) to its creditors through a one-time settlement. Metro 1, the oldest in Mumbai which currently serves 4.6 lakh passengers daily, is the only corridor executed through a public-private partnership. It is run by a special purpose vehicle, the Reliance Infrastructure-promoted MMOPL. MMRDA has a 26 per cent stake in the SPV, while Anil Ambani's R-Infra holds 74 per cent. There are six lenders in all: State Bank of India, IDBI Bank, Canara Bank, Indian Bank, Bank of Maharashtra, and IIFCL (UK).

Mint, Alstom chief executive Henri Poupart-Lafarge detailed the company's plans to scale up domestic operations and promote the 'Make in India' initiative globally. This will soon include exporting electric locomotives made at its joint venture facility in Madhepura, Bihar. The goal is to boost both domestic and export revenues in India to over 1 billion euros (approx ₹xxx crore).

Nykaa, TCS, Tata Elxsi, Glenmark Life, YES Bank, Siemens among others will be in focus due to various news developments and first quarter results. TCS, Anand Rathi Wealth, Akme Fintrade Shares of TCS, Anand Rathi Wealth and Akme Fintrade will be in focus today as the companies will announce their first quarter results.

The Biden administration says it's providing $504 million in implementation grants for a dozen technology hubs in Ohio, Montana, Nevada and Florida, among other locations