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India has made significant strides in the global innovation landscape, climbing 42 spots over the past nine years to secure the 39th position in the Global Innovation Index (GII) 2024. This remarkable achievement underscores the country’s growing influence and leadership in fostering an innovative ecosystem. In 2015, India was ranked 81st in the GII. Fast forward to 2024, and the…
On August 23, 2024, the Securities and Exchange Board of India (SEBI) imposed a five-year ban on Anil Ambani, one of India’s most prominent businessmen, from participating in the securities market. This decision came as a result of serious allegations of fund diversion involving Reliance Home Finance Limited (RHFL), a company under the Reliance Anil Dhirubhai Ambani Group (ADAG). The…
Finance Minister Nirmala Sitharaman outlined nine key priorities in the Union Budget 2024, aimed at guiding India towards strong development and all-round prosperity. These priorities are essential for achieving the goal of a “Viksit Bharat” (Developed India) by 2047. 1. Productivity and Resilience in Agriculture • Focus: Enhancing agricultural productivity and resilience. • Initiatives: Allocation of ₹1.52 lakh crore for…
In a significant move ahead of the 2024 Assembly Elections, the Maharashtra government has announced a financial aid package aimed at supporting students who have recently completed their education. This initiative includes a one-time grant of Rs. 6,000 for students who have passed their 12th grade and Rs. 10,000 for those who have graduated. This announcement comes as part of…
As the Indian economy navigates through the complexities of a post-pandemic world, all eyes are set on Finance Minister Nirmala Sitharaman, who is poised to present the Union Budget 2024 on July 22. This marks her seventh consecutive budget presentation and heralds the beginning of the Modi 3.0 government’s comprehensive financial planning. Anticipation and Expectations The Union Budget presentation is…
The Indian stock market witnessed a historic moment as the Sensex crossed the 77,000-mark for the first time ever. This milestone was achieved in early trade, with the Sensex climbing 373.15 points to reach 77,066.51. The Nifty also hit a new record high, rising 115.40 points to settle at 23,405.60. The market’s initial surge saw 2,196 shares advancing, indicating a…
The Indian financial landscape is buzzing with the news of Bajaj Housing Finance’s latest strategic move – an Initial Public Offering (IPO) aimed at raising a substantial ₹4,000 crore. This bold step includes a fresh issue of shares coupled with an Offer for Sale (OFS) component, marking a significant milestone for the company and its stakeholders. Why an IPO? The…
India’s Goods and Services Tax (GST) collection has witnessed a remarkable surge, registering a 10% increase to ₹1.73 lakh crore in May 2024. This significant growth is a testament to the country’s robust economic activity and the government’s efforts to enhance compliance. A Closer Look at the Numbers: The gross GST revenue collected in May 2024 reflects a 15.3% year-on-year…
The Reserve Bank of India (RBI) has made a big announcement. They said that now people from other countries can open bank accounts in Indian rupees, even outside of India. This is a new thing and it’s part of the RBI’s plan for the year 2024-25. Why Is This Important? This change is a big deal because it helps connect…
In the bustling archipelago of the Philippines, a new dawn in maritime trade is on the horizon. Spearheaded by the visionary billionaire Enrique Razon Jr., International Container Terminal Services Inc. (ICTSI) is embarking on a monumental venture that promises to reshape the economic landscape of the region. Nestled 120 kilometers south of the capital Manila, the tranquil town of Bauan…