UPS Financial News

budget of 2024, being presented just before the 4th anniversary of the National Education Policy (NEP) 2020, 29th July, would be a great opportunity for the government to showcase its commitment to the cause of education in the country. The NDA government, in its third term now, can utilise the opportunity to leave its legacy on the education system in the country.

2024 Budget Highlights: Finance Minister Nirmala Sitharaman will present the Union Budget 2024 in Parliament today for the seventh consecutive time, surpassing the late Morarji Desai's record of six consecutive budgets. This budget is expected to focus on changes in the income tax structure and improving the ease of doing business in India. At 11 am, the much-anticipated full budget for 2024-25, the first under the Modi 3.0 government, will be unveiled in Parliament. Attention will be on the major announcements from the finance minister and the government's forward-looking guidance on the overall economy.

Budget 2024 day. The Nifty future closed negative with losses of 0.05% at 24,517 levels on Monday. India VIX was up by 4.18% from 14.82 to 15.44 levels.

«I think there is a role the industry can play and if there are tax reforms that can help that process, that would be welcome. And in terms of equity, we play a big role in terms of long-term wealth creation for investors and so any tax proposals that help that process will also be, to my mind, a welcome step for the industry,» says Anthony Heredia, CEO, Mahindra Manulife AMC. Let us start by AMFI's 16-point proposal that has been sent and there are a lot of expectations in terms of rationalising the tax structure and the capital gain structure and what according to you are the pressing issues which are actually highlighted in the 16-point proposal sent to the finance minister from AMFI? Anthony Heredia: So, I would not put it as concerns. I think the thing that the industry looks forward to firstly continuity of reform of the progress we have seen, so I would say that would be the primary expectation. But we do believe we have a very significant role to play in terms of the ability for corporate bond markets to grow and one of the requests we would have is perhaps a rethink on the tax changes that happened on debt funds a couple of years back.

Biden opted out of the presidential race and endorsed his deputy Kamala Harris, their Republican rival Donald Trump's campaign said it was a «once-in-a-lifetime» opportunity to «defeat not just one Democrat nominee for president, but two in the same year.» In a memorandum issued on Monday as Vice President Kamala Harris kicked off her presidential campaign, the Trump Campaign took credit for Biden's decision to drop out of the race and asserted the "'War on Democracy' will be stopped by the man who took a bullet for democracy".

Kamala Harris's campaign aims to wrap up her presidential nomination by Wednesday night by securing a majority of the nearly 4,000 Democratic convention delegates needed to win, four sources with direct knowledge of the matter said.

Market veteran Madhu Kela remains very positive on transformers as an industry in the medium to long run. These are very deep cycles – the downturns as well as the upturns. A new cycle has started and he expects this to last at least 5-10 years and within that, there are select companies that will continue to do well. Kela is also bullish on data centres as a play. With this privacy law and the data being retained here, data centre as a play and anything peripheral around the data centres will do well. Let us talk about two areas, over the weekend, one transformer company came out with results. You had some exposure in there. Has the transformer story played out because these stocks have become eight to nine times in the last one year? Also, what about data centres? Now big developments are coming in the cloud and some of these companies are tying up with Google, etc. You have exposure in those areas as well. Madhu Kela: So, data centre, we made a significant investment in one data centre company which was a private company. So, I am very bullish. With this privacy law and the data being retained here and the amount of data that we are generating today, data centre as a play and anything peripheral around the data centres will do well.

mutual funds have offered returns up to 47% since the interim budget presented by the Finance Minister Nirmala Sitharaman on February 1, 2024. There were around 474 equity mutual funds in the said period.

«Some of the companies will be absorbed by the bigger players, so to your question who will be the winner here, I think that one should stick with the larger companies, the more efficiently managed companies and companies with a franchise, with a brand which the consumer appreciates and looks forward to staying in, I think that that is the space which is going to benefit going forward,» says Anshul Saigal, Founder, Saigal Capital. After what seemed like an inline Q1, because of the monsoon quarter perhaps which is going to flow through in Q2, who do you think is going to win the battle and whether or not you think hotel industry has a prosperous rest of FY25 ahead of them? Anshul Saigal: So, if you go back to the 2003-2007 cycle you look at where rates went around the time of 2007-2008, we are still scraping only the surface in hotel tariffs at this moment. Even though occupancy is high, hotel tariffs are also up, but in comparison to where they were in that phase, we are nowhere close.

JD Vance used his first solo campaign rallies Monday to throw fresh barbs at Vice President Kamala Harris a day after President Joe Biden threw the presidential election into upheaval by dropping out and endorsing his second-in-command to lead Democrats against Donald Trump.

security talks on July 28 that for the first time will cover "extended deterrence", a term used to describe the U.S. commitment to use its nuclear forces to deter attacks on allies.

Democratic National Committee Chairman Jaime Harrison said on Monday the Democratic Party will deliver a presidential nominee by Aug. 7 and is committed to an «open and fair» nominating process.

Hedging is back as investors fret over concerns about everything from the US presidential election to second-quarter earnings, economic growth and interest rates. The Cboe Volatility Index, a gauge of options prices, surged the most in more than a year last week as stocks sank with growing calls for Joseph Biden to quit the presidential race. Now that he's done so and thrown US politics into uncharted territory, futures on the gauge have slipped after earlier climbing as much as 1.8% in Asian trading. October contracts, which measure swings around the vote, rose even more in Hong Kong.

The slab rates under the old income tax regime have remained unchanged since July 2014. Will they be revised in the upcoming budget? It seems unlikely, given that the government has been pushing the new tax regime and has made it the default option.

Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman is all set to present her seventh consecutive Union Budget on July 23. This will be the first full financial budget of the Prime Minister Narendra Modi-led National Democratic Alliance (NDA) government in its third consecutive term. The Union Budget 2024-25 is expected to focus on revising the income tax structure to benefit taxpayers in all segments and enhancing the ease of doing business in India.

₹20,000 price segment. I thoroughly tested out the Phone 1for over 10 days and here's my take on how the first phone from Nothing's sub-brand performed in terms of day-to-day usage.Inside the box of CMF Phone 1, you get the device itself, some paperwork, a USB type C to type C cable, and an orange coloured SIM ejector tool.

US President Joe Biden may have let them down. The decision of the president to end his election campaign should have been made many years ago. The health of the president is under sharp focus with many of the people pointing out that the nation has been lied to.

Fortnite update is almost here for download. Gamers will have Fortnite update 30.30 on July 23. This update from Fortnite Chapter 5 season 3 will include Tesla cybertruck, and season 4 hints, as per reports.

Mike Perry, who got dominated till the very end, until giving up in the sixth round. Right after this amazing win, Jake Paul claimed that Mike Tyson, against whom he was supposed to go up against but could not do so following Tyson's medical emergency, is next on his list.

Businesses from airlines to hospitals have been grappling with faulty software update that caused technological havoc worldwide on Friday

China’s central bank has cut key interest rates in a surprise move aimed at injecting pep into the economy, while the ruling Communist Party released a 50-page roadmap addressing long-term challenges