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NEW DELHI : The finance ministry is considering introducing a production linked incentive (PLI) scheme for the chemicals sector, but there aren’t any proposals yet for such a scheme for the petrochemical industry, two senior officials told Mint. A PLI scheme for the chemicals sector is currently being considered by the finance ministry, but it hasn’t been approved yet, said the first person mentioned above, who spoke under the condition of anonymity. Since funds for PLI schemes are limited, the government can make funds available only to sectors that really need such schemes, the person said. Allocating funds to specific sectors for the scheme is decided by the Niti Aayog, the person added.

Nationalist Congress Party (NCP) chief Sharad Pawar on Wednesday said INDIA bloc has to take a «collective decision» on the inclusion of new members, and added that parties, like the Congress and Uddhav Thackeray-led Shiv Sena, need to be consulted over this. The former Union minister was responding to a question on the possibility of outfits, such as the All India United Democratic Front (AIUDF), being brought into the alliance fold. Addressing a joint press conference at the Grand Hyatt Hotel here, the venue of a two-day INDIA alliance meeting that begins on Thursday, Pawar also did not seem enthusiastic about the prospect of the Akali Dal joining the grouping. Asked about the possibility of the Punjab-based party making an entry into the alliance, he said there was no such proposal but it could be thought about in case the Akalis were inclined.

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Biocon Biologics is on track to integrate a major part of the acquired biosimilars business of long-term partner Viatris in the current fiscal, the company's Executive Chairperson Kiran Mazumdar-Shaw has said. Biocon Biologics, a unit of the Bengaluru-based biotechnology major, had announced earlier this year that it has completed the integration of the acquired biosimilars business from Viatris in over 70 countries in emerging markets effective July 1, 2023. Now, it is looking to integrate the acquired biosimilars business in the remaining markets like North America and Europe. «We are on track to integrate a major part of the acquired business in a phased manner during FY24,» Mazumdar-Shaw said in her address to the company's shareholders in the Annual Report for 2022-23, which was released on Wednesday. Direct commercial presence in many global markets will allow Biocon Biologics to devise more sustainable and targeted strategies to make biosimilars accessible to the maximum number of patients and healthcare providers, she added.

Bitcoin mining has long been attacked by policymakers as an expensive, wasteful industry consuming power that would otherwise be going to households or valuable industries. Indeed, the scale of global Bitcoin mining is massive: Coin Metrics estimates that Bitcoin miners today consume 13.5GW of power, equivalent to 15% of the peak generation capacity of the Texas grid. But in recent years miners have adapted to changing grid conditions and found ways to make their presence much more benign — whether this involves exploiting entirely stranded sources of power, like flared gas, by co-locating with under-monetized renewables, or by participating in grid flexibilization initiatives.

A surge in short sales of US Treasury futures suggests hedge funds are expanding basis trades, a popular tactic that may be injecting leverage into a bond market whipsawed in the wake of this month’s selloff. 

Dollar bulls have history on their side going into September as the currency has strengthened during that month for six years in a row.

Rajeev Radhakrishnan, Head-Fixed Income, SBI Mutual Fund, says “the bigger comfort from a fixed income perspective today is that a significant amount of tightening has already been done. Secondly, even when you look at a one-year ahead estimate basis on inflation, even if you assume the expected average inflation to be about 5.5%, fixed income yields today are anywhere between 7% and 8% depending on tenors. So a one-year T-bill today is trading north of 7%. We still have real returns available in fixed income instruments in India today. That, apart from the diversification angle that you did mention initially, would be the key investment points from the Indian fixed income angle. ”A lot of data is coming in where investors are looking very keen on investing in fixed deposits and looking at the interest rate trajectory so far, where debt looks very attractive for all those investors who want to maybe rebalance their portfolio or have a debt exposure. But going ahead, what is the story that you see brewing because in India, if we talk about domestic triggers, inflation still remains a concern, monsoon is predicted to be a dampener in September also. Seeing the kind of situation that is emerging, what is likely on the interest rate front?Coming to some of the factors you mentioned in terms of potential risk factors from a fixed income market perspective, we still have inflation which is fairly elevated and above the upper end of the policy target.

Shilpa Bhaskar Gole, Founder, NerdyBird Financial Wellness, says “it is very important to have a Trust. This is something that parents do not want to go down that road because they foresee certain complications and having to go through all the legal hassles. However, I believe that having a trust is a very good way to set aside this money for your special needs child and ensure that there is on-going financial care for the child in a very systematic manner and making sure that these assets are ring-fenced from any others – be it creditors or other people who would want access to your money in your absence.”The financial future of special abled kids have to be properly planned, but more than that a lot needs to be done in terms of counselling and getting the mindset right. What according to you parents fear most when it comes to their specially abled children?There are a lot of fears that families with special needs go through on a day-to-day basis and the most important fear is about enabling their child to manage their lives independently and without their support.

BJP's emphasis on Hindutva, the Congress appears to be treading the saffron path in Uttar Pradesh. On August 24, as Ajay Rai, the newly appointed state president of the party, assumed office at UPCC headquarters in Lucknow, the event kicked off with the recitation of vedic hymns, followed by a symbolic Ganga Aarti. Before this, Rai sought the blessings of the deity at the Kashi Vishwanath Temple in Varanasi.

Golden Crossover stands as a compelling signal. This technical pattern has the potential to influence trading strategies by offering a glimpse into potential shifts in stock prices.

Narendra Modi in the upcoming general elections due next year. The saffron party called PM Modi ‘The Terminator’ who always wins, while telling the Opposition bloc to continue dreaming about PM Modi’s defeat in the 2024 Lok Sabha polls. “2024! I'll be back!" the BJP's social media campaign read.

Our vision is to be a leading force in sustainable, innovative, and community-centric real estate development. We aspire to create iconic landmarks that stand the test of time, leaving a positive legacy for generations to come. By embracing technological advancements, sustainable practices, and a people-first approach, we aim to shape the future of commercial real estate in a way that benefits society, the environment, and all those who interact with our developments, says Sudhanshu Rai, Director of Ashrai Group.

G20 summit, a quirky challenge has arisen for the New Delhi Municipal Council (NDMC) – how to prevent monkeys from obstructing G20 convoys on the central ridge while safeguarding the meticulously placed potted plants in the area. Situated in the natural habitat of these mischievous monkeys, relocating them is off the table. Thus, the NDMC, in collaboration with the forest department, has taken an inventive approach by introducing cutouts of langurs in the vicinity, with the hope that their simian counterparts would take notice, a TOI report stated. However, officials are concerned that the stationary langur cutouts might lose their efficacy over time.

alliance have announced their strategy meetings on August 31 and September 1 in Mumbai. In July this year, both political alliances also held their meetings focused on the 2024 general elections on the same day in Bengaluru. 1) During the meeting, the INDIA alliance in Mumbai will unveil its logo.

Indian market. On the other hand, the Nifty IT pack is set to buck the trend. While the majority of sectoral indices are in the red, the Nifty IT pack is up about 4 per cent this month against a nearly 2 per cent loss in the Nifty index.

INDIA bloc are set to hold hectic parleys during a two-day conclave in Mumbai starting Thursday during which they will announce a coordination committee and a logo for the alliance. The alliance would chalk out a joint campaign strategy to take on the NDA in the 2024 Lok Sabha elections and iron out the differences among themselves. The leaders are also likely to announce a few panels to draft a common minimum programme of the alliance, to frame joint plans for holding agitations across the country and for seat sharing. «The Mumbai meeting shall come out with a clear-cut roadmap for providing a progressive alternative to the regressive policies of the current regime,» RJD's Manoj Jha told PTI. The INDIA bloc is also likely to announce a secretariat for smooth coordination between the constituents and it is likely to be set up in the national capital.

₹13,000 crore scheme for craftspeople, announced recently by the Cabinet Committee on Economic Affairs, is not just a commendable financial commitment but an affirmation of the nation's rich artistic heritage. The Vishwakarma Yojana, rooted in the philosophy of "guru-shishya parampara", envisages a renaissance in 18 traditional trades, spanning both rural and urban landscapes. Its aim to touch the lives of 3 million artisan families signifies more than just an economic boost.

reliance on China and Taiwan. Following his participation in the inaugural Republican primary debate, where his popularity saw a notable upswing, Ramaswamy articulated his foreign policy stance and proposed strategies on Tuesday. Ramaswamy criticized Nikki Haley, a fellow Indian American Republican presidential candidate, who had previously criticized him for his lack of experience in matters of foreign policy.

Gold price in focus as safe haven; should you increase your exposure to gold? Around 10:20 am, MCX Gold for October 5 delivery traded 0.11 per cent higher at ₹59,330 per 10 grams. Experts believe gold prices may trade with a positive bias today. Ravindra Rao, CMT, EPAT, VP – Head Commodity Research, Kotak Securities pointed out that the US ADP non-farm employment change and the second estimate of Q2 GDP are due later today.

Global buyout giant CVC Capital Partners has made its first big hire since it flew in London-based partner Richard Blackburn to plot its re-entry into Australian M&A.