Crorepati taxpayers in India increased fivefold to 2.2 lakh in the last decade
The number of crorepati taxpayers in India has surged fivefold to 2.2 lakh in the income tax assessment year (AY) 2024, compared to AY 2014, according to a new report. Over the past decade, the total number of taxpayers rose by 2.3 times
IT Ministry Urges Social Media Platforms to Address Hoax Bomb Threats to Airlines
In response to a surge in hoax bomb threats targeting airlines, the Indian government has instructed social media intermediaries, including platforms like X (formerly Twitter) and Meta, to take immediate action against the dissemination of misinformation that disrupts public order and compromises state
Personal finance insights: Market sentiments, investment strategies & economic trends
By: Dr K C Gupta, YBB Personal Finance SENTIMENTS AAII Bull-Bear Spread +20.1% (above average)$NYA50R, NYSE %Above 50-dMA 73.98% (overbought)$SPXA50R, SP500 %Above 50-dMA 77.20% (overbought)Delta MSI 79.5% (overbought) ICI Fund Allocations (Cumulative)OEFs & ETFs: Stocks 61.04%, Hybrids 4.45%, Bonds 17.89%, M-Mkt 16.63% INTEREST
Mankind Pharma Completes Acquisition of Bharat Serums and Vaccines for ₹13,768 Crore
Mankind Pharma announced on Wednesday that it has finalized the acquisition of Bharat Serums and Vaccines Limited (BSV) for ₹13,768 crore. This acquisition positions Mankind Pharma as a leader in the Indian women’s health and fertility drug market, while also granting access to
No Country Can Ignore India: Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman emphasized that India’s growing influence makes it impossible for any country, whether the US or China, to overlook its significance on the global stage. Speaking at a panel discussion titled “Bretton Woods Institutions at 80: Priorities for the
India Allocated 4.6% of GDP to Education from 2015 to 2024: UNESCO
According to a recent UNESCO report, India allocated approximately 4.1% to 4.6% of its GDP to education between 2015 and 2024. This investment aligns with the international benchmarks set by the UN’s ‘Education 2030 Framework for Action,’ which recommends that countries dedicate 4-6%
Indian D2C Jewellery Segment Secures $103 Million in Funding, Outpacing US
The Indian direct-to-consumer (D2C) jewellery sector, which boasts over 550 startups, has raised $103 million in funding so far this year, as reported on Thursday. In 2023, the total funding for the D2C jewellery segment in India reached $104 million, marking a 57%
280 Companies Register 1.27 Lakh Internship Offers Under PM Internship Scheme
Approximately 280 companies have participated in the PM Internship Scheme (PMIS), collectively offering 1.27 lakh internship opportunities, according to reports. The onboarding window for corporates, which opened on October 3, has now closed. However, the registration period for youth began on October 12
Adani Energy Solutions Reports 172% Surge in Q2 FY25 Net Profit
Adani Energy Solutions Limited (AESL) announced a remarkable 172% increase in net profit, reaching ₹773 crore for the July-September quarter (Q2) of FY25. After adjusting for deferred tax reversals, the profit after tax (PAT) stood at ₹459 crore, reflecting a 61.6% year-on-year increase.
Extension of ‘Udan’ Scheme to Enhance Air Connectivity in Unserved Regions of India
The Indian government has announced a 10-year extension of the regional air connectivity scheme known as ‘Udan,’ aimed at improving unserved air routes in underserved areas of the country and meeting the aspirations of everyday citizens. Having recently completed eight years, the ‘Udan’
India’s Growth Story Remains Strong, Real GDP Projected to Grow 7.2% in FY25: RBI Governor
The Reserve Bank of India (RBI) Governor, Shaktikanta Das, affirmed that India’s growth trajectory remains robust, with real GDP expected to grow at 7.2% in the fiscal year 2024-25. He highlighted that key drivers of this growth—consumption and investment demand—are gaining traction. Das
Experts Advocate for Lower Petrol and Diesel Consumption to Achieve Sustainable Transportation in India
As businesses increasingly integrate environmental, social, and governance (ESG) principles into their core operations, industry experts emphasized the need to make transportation in India more sustainable by reducing petroleum and diesel consumption. Despite a surge in vehicle sales, India continues to experience record
Adani Group’s Cements Acquires 47% Stake in Orient Cement for ₹8,100 Crore
Ambuja Cements, part of the diversified Adani Group, has announced its acquisition of a 46.8% stake in Orient Cement Ltd (OCL) for an equity value of ₹8,100 crore. The purchase will be funded entirely through internal resources, as stated by the company. This
Hyundai Motor India Set for Stock Market Debut After Record IPO
Hyundai Motor India’s shares are poised to begin trading this week following a record-setting initial public offering (IPO), industry officials announced on Monday. The company’s stock is scheduled to start trading on the Indian stock market on Tuesday, following a $3.3 billion IPO
Maldivian President to Introduce India’s UPI System
Maldivian President Mohamed Muizzu has announced plans to implement India’s Unified Payment Interface (UPI) in the Maldives, a decision anticipated to significantly benefit the nation’s economy. The introduction of UPI is expected to enhance financial inclusion, improve transaction efficiency, and bolster digital infrastructure,
Sudan and South Sudan Discuss Resuming Oil Transportation
Sudan and South Sudan are prioritizing the resolution of issues hindering the resumption of South Sudan’s oil exports through Sudanese territory. This discussion followed a meeting in Port Sudan between Abdel Fattah Al-Burhan, Chairman of Sudan’s Transitional Sovereign Council and General Commander of
Musk’s SpaceX Secures $733 Million Launch Contract from US Space Force
SpaceX, led by Elon Musk, has been awarded a $733 million contract for eight launches by the US Space Force. The Space Force’s Space Systems Command issued Launch Service Task Orders (LSTOs) totaling $733,566,001 to SpaceX under the “National Security Space Launch Phase
Long-Term Outlook for Indian Stock Market Remains Strong Despite Geopolitical Risks
Despite continued selling pressure from foreign institutional investors (FIIs) amid geopolitical tensions, experts maintain that the long-term outlook for the Indian stock market remains strong, driven by stable growth and an uptick in capital expenditure. This week, the market faced headwinds from heavy
Adani Foundation Donates Rs 100 Crore for Telangana’s Young India Skills University
The Adani Foundation has announced a generous donation of Rs 100 crore for the establishment of the Young India Skills University in Telangana, aimed at creating a lasting impact for future generations. During a meeting with Telangana Chief Minister A. Revanth Reddy, Gautam
Gold & Silver
Dr K C Gupta, YBB Personal Finance Gold broke out of a giant trading range in 03/2024. Recent events in the Middle East may have been the final trigger. Some see the Russia-Ukraine war (02/2022- ) as the trigger – gold initially kept