Progressive Financial News

₹58,900 crore. This is made up of ₹26,000 crore for the construction of highways and a 2-lane bridge on the river Ganga at Buxar, ₹21,400 crore for power projects, including a new 2400 MW power plant at Pirpainti in Bhagalpur district, and another ₹11,500 crore in special financial assistance for flood management, Similarly, for Andhra Pradesh, finance minister Nirmala Sitharaman announced special financial support of ₹15,000 crore for a new capital city, fulfilling commitments made in the Andhra Pradesh Reorganization Act.

Elon Musk is having nightmares about ‘woke mind virus’, a type of infection that poisons the victim with progressive thinking!

Kathleen Martin, a former interim data transformation chief, has filed a lawsuit against Citi, claiming she was poached under false pretenses and subsequently unfairly dismissed. Martin, who served as JPMorgan’s global technology chief of staff, said she was enticed to join Citi in late 2021 with promises of a “long-term leadership position.” She alleged the reality fell short of these promises, leading to her termination in September 2023.

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

The US presidential race was thrown open by President Joe Biden’s decision to step aside and endorse Vice-President Kamala Harris as the Democratic party’s candidate against Donald Trump. This brightens the ruling party’s odds of White House retention, but her being a woman—and “of colour" too—makes some folks wonder if her candidacy will do anything to stop Trump from cruising to victory.

Ahead of a lunch meeting with Vice President Kamala Harris at the White House in March, JPMorgan Chase Chief Executive Jamie Dimon didn’t know what to expect. Dimon wasn’t sure of her political agenda when it came to the economy and business.

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.

Global efforts to tame ballooning risks outside the banking system are losing steam, the Financial Stability Board said on Monday, with a top official warning it will take longer than expected to get a full picture of vulnerabilities at hedge funds, private credit firms and other investors.

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.

Kotak Mahindra Bank, the country's fourth-biggest private lender by market value, said its margins and unsecured loan business are affected by the Reserve Bank of India's (RBI) embargo, but it has made progress in deepening relationships with Kotak 811 customers and enhanced offers to credit card customers. Ashok Vaswani, MD, conveyed this message to the analysts soon after declaring the first quarter results. He indicated that the RBI has not given any timeline on when the ban, imposed in the last week of April on onboarding customers digitally and issuing credit cards, would be lifted. «We have been assured that look, it's not as if we are going to wait till you finish every single thing before we lift the embargo,» he said. The bank has shown strong commitment by adding resources, and the RBI is aware of it, added Vaswani.

Edvard Grieg's 'In the Hall of the Mountain King' is nothing short of a musical marvel. This piece, part of the incidental music for Henrik Ibsen's play, Peer Gynt, is a masterclass in building tension and atmosphere. Grieg's genius lies in his ability to evoke vivid imagery through music, and this composition is a prime example. The piece begins with a simple, almost whimsical theme played in the lower registers, mimicking the stealthy approach of Peer Gynt into the Mountain King's lair. As the music progresses, the tempo quickens and the dynamics intensify, creating a sense of impending doom. The repetitive, ascending motif, layered with increasingly frantic orchestration, mirrors the chaotic and menacing environment of the troll king's hall. Grieg's use of orchestral colour is particularly noteworthy. The interplay between strings, woodwinds, and brass adds depth and texture, making the listener feel as if he or she is part of the unfolding drama. The crescendo towards the climax is both exhilarating and terrifying, capturing the essence of Peer Gynt's perilous adventure.

Indian Oil Corporation, the nation's largest oil firm, is targeting to become a USD 1 trillion company by 2047, combining growth in traditional oil refining and fuel marketing with clean energy avenues like green hydrogen and EV charging, its chairman said. Indian Oil Corporation (IOC) posted a record net profit of Rs 39,619 crore (USD 4.7 billion) on a revenue of Rs 8.66 lakh crore (USD 104.6 billion) in the 2023-24 (April 2023 to March 2024) fiscal. The company will continue to invest in fossil fuels and new energy avenues to have a balanced portfolio that will help achieve net-zero carbon emissions by 2046, company chairman Shrikant Madhav Vaidya said in its latest annual report. It will expand oil refining capacity, and invest in petrochemical units that will convert crude oil into value-added chemicals directly, while also increasing its focus on gas, biofuels and clean mobility.

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...

Sonowal, was sworn in as ex-officio members of Digboi and Makum municipalities. Sonowal, elected to represent Dibrugarh in Parliament and actively contributing to its development, outlined his comprehensive vision for the constituency's progress. Sonowal highlighted Dibrugarh's historical prosperity, noting its status as one of India's wealthiest districts even before independence. The region's abundant resources, including tea, coal, wood, and petroleum, have historically contributed to its economic significance. Sarbananda Sonowal emphasized the historical neglect faced by Dibrugarh under successive Congress governments post-independence. He credited the revitalization of the region to the proactive measures undertaken during the Vajpayee and Modi administrations, leading to significant advancements across rail, road, air, and water connectivity. This resurgence has spurred industrialization and youth employment in Dibrugarh, underscoring Prime Minister Narendra Modi's inclusive development agenda of «Sabka Saath, Sabka Vikas.»

Currently, income above Rs 15 lakh attracts a tax rate of 30% under both regimes. This, coupled with the removal of most exemptions and deductions in the new regime, results in a higher effective tax burden for this segment of taxpayers. As such, there is a growing consensus among taxpayers in this bracket that the current tax rates do not adequately reflect the complexities and expenses associated with inflation and higher incomes. Consequently, taxpayers have the following expectations from the coming budget 2024 on July 23, 2024.

Vegetable prices, especially potatoes, are likely to stay elevated in the near term, despite rapid progress of the monsoon, according to agricultural experts and economists. Heatwaves in several parts of the country this summer damaged crops, causing demand-supply mismatch, they say. Vegetable inflation remains a major concern for policymakers, reaching 29.3% in June, from 27.4% in May. The increase was broad-based, affecting both TOP (tomatoes, onions, potatoes) and non-TOP vegetables. «Prices of potatoes are expected to be firm for the next few months,» said an agricultural analyst, adding this year's shortage of the tuber is likely to be felt as early as October unlike the general trend of November and December.

These bikes offer a low-impact cardiovascular workout, targeting major muscle groups like the legs, glutes, and core, while minimizing the risk of injury. Equipped with adjustable resistance levels, advanced LCD monitors, and comfortable seating, recumbent bikes cater to users of all fitness levels, from beginners to advanced athletes. Explore this curated selection of the best recumbent bikes to find the perfect fit for your home workout needs, ensuring a safe, effective, and enjoyable exercise experience.

Indian Army troops opened fire on Thursday after suspicious movement near the Line of Control in the Sunderbarea of Rajouri district in Jammu and Kashmir, Army officials said. Further details are awaited. Earlier, two Indian Army soldiers were injured in an encounter with terrorists in the Kastigarh area of Doda district in Jammu and Kashmir.

Indian Navy warship INS Teg is actively engaged in a search and rescue operation off the coast of Oman after an oil tanker capsized on July 15. As of now, the mission has successfully rescued eight Indian nationals and one Sri Lankan from the stricken vessel. The Indian Navy continues to search for additional crew members who remain missing. The operation was launched immediately after the tanker capsized, with INS Teg deploying advanced equipment and personnel to locate and assist the remaining crew. The Navy has coordinated with local Omauthorities and international maritime agencies to enhance the search efforts.

The federal government has ordered an offshore wind developer off Nantucket Island to suspend operations after parts of a damaged turbine blade ended up littering beaches