Rights Financial News

₹1.4 trillion in the previous budget (revised estimate) to an estimated ₹1.47 trillion. Boosting employment and employability was rightly given utmost priority in this year’s budget. The announcement of three employment-linked incentive (ELI) schemes for first-time workers, job creation in manufacturing and support for employers are in line with CII recommendations.

FAAD Capital has invested in four agritech startups — Godaam Innovations, VedaFit Foods, Aqin Biotech, and Mkelly Biotech — to support their growth plans. In a statement on Wednesday, FAAD Capital, a Sebi-registered Category 1 angel fund headquartered in Gurgram, said it has made a strategic investment in four innovative agritech startups as part of their AgriManch Accelerator.

Japanese automotive giant Toyota is considering leveraging Ethereum blockchain in designing vehicle Mobility-Oriented Account (MOA).

ShareChat has partnered with Viacom18-owned streaming platform JioCinema to offer exclusive short-form multilingual content related to Paris Olympics 2024 from July 26 to August 11, 2024.

On 3 July, the BSE Sensex, India’s most famous stock market index, crossed 80,000 points for the first time during the course of a day’s trading. On 4 July, the Sensex closed above 80,000 points for the first time. When you have followed the Sensex for as long as I have, such occasions lead to random thoughts—or what in slightly technical terms can be referred to as the benefits of experience.

Israel on October 7th, that “terrorism pays". Ireland, Norway and Spain are joining the majority of countries: almost three-quarters of members of the UN recognise Palestine. What exactly does that mean—and who are the holdouts? There are no binding rules about when one country should recognise another, but international law provides some guidelines.

WASHINGTON—Kamala Harris completed her takeover of the Democratic Party within 48 hours. And there was little standing in her way. Fearful of chaos and losing to former President Donald Trump, Democrats quickly fell in line behind the vice president following President Biden’s Sunday afternoon letter declaring he would not stand for re-election.

Darren Walker, the outgoing president of the Ford Foundation, has had a far-reaching and profound impact on the philanthropic sector

U.S. airline regulators have opened an investigation into Delta Air Lines, which is still struggling to restore operations on Tuesday, more than four full days after a faulty software update caused technological havoc worldwide and disrupted global air...

A 36-year-old Black woman who called 911 to report someone prowling near her home was shot and killed by one of the police officers sent to help her, according to shocking body-camera footage that was released by Illinois State Police on Monday.

Ajit Ranade: An overdue pivot to human capital and employment There was also a reference in the budget speech to the need to simplify rules for FDI and ODI, and to promote the Indian rupee as a currency for overseas investment. While the FDI and ODI policy has been liberalised over the years, including through notification and regulations announced in August 2022, some aspects remain grey, such as whether portfolio investments are indeed permitted or not under ODI. Also, some substantive aspects (and indeed, procedural aspects) are difficult to deal with at the ground level, and one hopes that these will be addressed expeditiously.

fiscal prudence and whether the budget would indicate a populist turn by the government. However, the message is that of continuity. Apart from the increased allocation of resources to the states of the two coalition partners, there does not seem to be any meaningful difference between the earlier budgets and the current one. The government continues to be on the path of fiscal prudence and consolidation. There is an emphasis on employment, skilling, and the social sector, and rightly so. There has been some worry about economic growth not fully translating into employment growth. Given the increasing number of young Indians joining the workforce, it was important to address the skilling needs of the people and incentivise the companies to hire more freshers. Encouragement for domestic manufacturing and services continues and the measures announced were on expected lines.

«See, in a country like India which is not a rich country, you have to continuously find avenues to tax and you have to use the tax revenues in the right way and continue the growth momentum and you have to ensure that jobs are created,» says S Naren, ED & CIO, ICICI Prudential AMC. What is your take on budget? S Naren: See, the government over the last decade has managed macro very-very well. Every year, they have looked and seen which are the areas where they can actually afford to increase taxation and not hurt the sectors. So, I think they have done a brilliant job if you look at it. The market can absorb it. Otherwise, the market reaction today would have been quite different, that is the reason why it is a great budget at this point of time.

Dinesh Kumar Khara, Chairman, SBI, says the emphasis on employment, skilling, and MSME is clearly articulated as the key pillars for inclusive growth in the Budget. Additionally, there is a strong focus on enhancing productivity and resilience in agriculture. Addressing youth employment and skilling is crucial for the economy, and maximizing these resources is essential. Furthermore, MSME is a core focus area for manufacturing and services, along with urban development initiatives like PMAY, which will significantly boost the real estate sector in urban areas. This Budget has struck the right chords. It is a Budget which, in a sense, has balanced growth and also government's vision of sab ka saath, sab ka vikas. In your mind, what was the big standout feature? Dinesh Kumar Khara: The Budget is something that is going to focus on the inclusive growth in the economy.

«I do not want to give it a name, but I think this was very serious. And therefore, after all, as we say economics is a handmaiden of politics. If you get politics wrong, economics is just left behind. So, this is a brilliant balancing act of being equitable, at the same time not compromising at all on the glide path to growth and to Viksit Bharat,» says Vallabh Bhanshali, Chairman, Enam Group. How would you describe Nirmala Sitharaman’s seventh budget and Modi 3.0's first budget? Vallabh Bhanshali: In the context of going from an absolute majority government to a coalition government, on the one hand and on the other hand, we had a very rising and probably capital market with F&O positions, creating a certain commentary in the country, not only amongst people at large, but even amongst regulators like SEBI and RBI and she had to take that into account. Serious determination to continue from where they had left, which is Viksit Bharat 2047, third largest economy in a few years' time and I think very importantly, we should not forget is the rising rhetoric in the country to go back to the 70s style of economic policy.

budget, delivering a short-term demand stimulus as well as actions focused on medium- to long-term growth imperatives, while ensuring fiscal consolidation.

Also read | Why Sebi and RBI want retail investors to stay away from derivatives For options traders, the securities transaction tax will increase by about 60%, said Roop Bhootra, chief executive officer of investment services at Anand Rathi Shares and Stock Brokers. “This move would definitely have a negative impact on professional traders who are trading more on intraday basis and generating exceptionally high-volume trades as it will increase their trading costs," he said. The securities transaction tax was introduced in 2004 to rein in speculative trading and rake in revenue from the financial markets.

₹1.48 trillion allocated for education, employment, and skilling, today’s announcements bode well for the future of our youth, given the government’s emphasis on skill development. The barriers faced by the workforce are immense: Nearly 73% of workers aged 15-59 years did not receive any formal or informal vocational or technical training, according to the Periodic Labour Force Survey 2022-23. With India’s demographic dividend expected to peak around 2041 and the working-age population forecast to shrink, we must seize the current window of opportunity to harness the potential of India’s labour force and fuel economic growth.

The Bank of Canada is set to deliver its next interest rate decision on Wednesday as many economists and market watchers expect a second consecutive cut in borrowing costs.

MUMBAI : Union finance minister Nirmala Sitharaman on Tuesday stressed on the importance of strengthening the insolvency tribunals and increasing their numbers to speed up the insolvency resolution process. “Appropriate changes to the Insolvency and Bankruptcy Code (IBC), reforms and strengthening of tribunals and the appellate tribunal will be initiated to speed up insolvency resolution. Additional tribunals will be established.