You must login to keep earning daily check-in points
Lifetime
Expired
Redeemed
* TimesPoints expire in 1 year from the day of credit
Union home minister Amit Shah commended Prime Minister Narendra Modi and finance minister Nirmala Sitharaman for presenting a comprehensive and visionary Union Budget 2025. Key features of the budget include a significant tax exemption for income up to Rs 12 lakh, aimed at enhancing the financial well-being of the middle class.
Finance minister Nirmala Sitharaman has announced income tax exemption for individuals earning up to Rs 12 lakh annually under the new regime, providing a significant tax relief for the middle class. This reform is expected to boost household consumption and savings, though projected to reduce direct tax revenue by Rs 1 lakh crore.
Finance minister Nirmala Sitharaman announced a Nuclear Energy Mission with a Rs 20,000 crore allocation for small modular reactors and 10,000 technology research fellowships at IITs and IISc over five years. Amendments to atomic energy-related acts will be considered. Additionally, new missions for spatial and manuscript heritage will be launched.
Union finance minister Nirmala Sitharaman announced the Budget 2025, highlighting healthcare policies such as adding 10,000 seats in medical colleges and hospitals next year, with 75,000 total seats to be added over five years. Secondary schools and primary healthcare centers will get broadband. Medical tourism will be promoted through private sector collaborations.
Rich nations' unfulfilled promises on climate finance might force developing countries to reconsider climate targets. The Economic Survey highlights India's vulnerability and advocates focusing on adaptation over emission mitigation. Key measures include climate-resilient seeds, urban resilience, early warning systems, mangroves, sea walls, and water management. Developed countries falling short of their commitments make low-carbon transition challenging.
DeepSeek, a Chinese AI startup, has unveiled a powerful generative AI model rivaling OpenAI’s ChatGPT at a fraction of the cost, rattling global tech markets. Using an efficient approach, DeepSeek trained its AI with fewer chips and less expenditure, defying US export restrictions. Concerns over data security and geopolitical implications are prompting scrutiny from US regulators.
Nvidia experienced a historic $589 billion market value loss, triggered by Chinese startup DeepSeek's AI breakthrough. DeepSeek's affordable R1 AI model, rivaling top Silicon Valley models, raised concerns about sustainability and affected major tech stocks. This development signifies a significant challenge to US dominance in AI, prompting a reevaluation of AI investment economics.
Adani Group has debunked rumors about the cancellation of their 484 MW wind power projects in Sri Lanka, asserting the deal is still on. The Sri Lankan government is reviewing the project tariffs as part of routine procedure under the new administration, while the Adani Group remains committed to investing $1 billion in the local green energy sector.
Patanjali has recalled four tonnes of 200-gram red chilli powder after the Food Safety and Standards Authority of India found the product non-conforming to pesticide residue limits. The company will refund consumers who purchased the affected packs and has taken steps to inform its distribution partners and consumers, urging them to claim a refund.
Low-alcohol and no-alcohol beers are gaining popularity among Gen Z and millennials in India, driven by health consciousness and the desire for moderation. Despite currently small numbers, this trend is expected to grow, with major brands like Budweiser 0.0, Heineken 0.0, and Coolberg leading the way. The market is evolving with technological innovations to maintain the traditional beer taste.
IndiGo has reported an 18% decrease in Q3 profit to Rs 2,449 crore despite a 14.6% rise in total income, impacted by the weaker rupee. Benign fuel prices were insufficient to offset dollar-denominated costs. Meanwhile, the airline plans to introduce long-haul flights by wet-leasing six Boeing 787s, targeting routes like London and Paris.
Odisha, Chhattisgarh, Goa, Jharkhand, and Gujarat top Niti Aayog's fiscal health index due to effective revenue mobilization and low interest payments. Conversely, Punjab, Andhra Pradesh, West Bengal, Kerala, and Haryana lag behind, struggling with deficits and debt. Fiscal performance is crucial for economic stability, given states' significant public spending and revenue contributions.
Tata Electronics has acquired a 60% stake in Pegatron's India unit, which operates an iPhone plant in Tamil Nadu. This acquisition positions Tata Electronics as a significant Apple supplier in India. The company plans to collaborate with Pegatron Technology India and diversify its production to include components for Xiaomi and Oppo.
CropLife India has urged the government to reduce GST on agrochemicals to 12 per cent and maintain a uniform 10 per cent customs duty for raw materials and formulations. They also demand a 200 per cent weighted deduction on R&D expenses, while warning that higher customs duties could make crop protection products less affordable for farmers.
US President Donald Trump announced the formation of a committee to develop a regulatory framework for digital assets, led by David Sacks. The executive order aims to advance America's crypto position, remove unnecessary regulations, and prohibit central bank digital currencies. The initiative seeks to foster innovation while ensuring clear regulatory guidelines and protecting economic liberty.
Restaurants are planning to challenge food delivery giants Zomato and Swiggy by partnering with the government-backed ONDC to launch private label food and regain control over their digital presence and customer data. This move aims to lower costs, choose their own logistics partners, and reduce dependence on commissions up to 35% charged by Zomato and Swiggy.
Car companies like Tata Motors, Maruti Suzuki, Mahindra & Mahindra, and JSW MG are preparing extensive charging infrastructures to support their electric vehicles. These initiatives include home chargers and robust public networks, with Maruti targeting charging stations in 1,000 cities and Tata expanding collaborations with charge point operators to install over 10,000 public chargers.
Sebi has proposed monthly systematic investment plans (SIPs) for a low ticket size of Rs 250. This aims to promote financial inclusion by subsidising costs for intermediaries. Investors can invest through up to three Rs 250 SIPs across different fund houses. Sebi plans to offer incentives to distributors and execution platforms for driving subscriptions to these small-ticket SIPs.
Gas consumption in India grew by 11% annually in 2024, causing a rise in LNG imports to meet increasing demand. Sectors such as industry, oil refineries, residential, commercial, and transport saw significant growth. Heatwaves also increased gas use for power generation. This aligns with India's low-carbon economy goals but raises energy security concerns due to declining domestic production.
Sensex closed 1,235 points lower at 75,838 due to market volatility. Investors were concerned about US President Trump's trade policies and a potential Bank of Japan rate hike. Foreign funds sold stocks worth Rs 5,920 crore, and BSE's market capitalization fell by Rs 7.3 lakh crore. Markets are expected to remain under pressure.
Life insurance companies are opposing the exemption of term insurance policies from GST, citing increased costs due to the loss of input tax credit. They propose maintaining a 12% GST rate to offset costs. The decision has been deferred, awaiting feedback from insurance regulator Irdai. Inconsistent implementation could lead to higher premiums and impact affordability for consumers.
Washington is heavily fortified for Trump’s second inauguration, with anti-scale fencing and surveillance drones. Unlike 2017, resistance has turned to resignation. Tech moguls, billionaires, and corporations are showing deference to Trump. Despite opposition fatigue, Trump’s team celebrates his popular vote victory and momentum. Opponents face introspection before re-engaging in opposition.
RBI deputy governor Rajeshwar Rao highlights the shift in household savings from traditional bank deposits to mutual funds and capital markets, affecting banks' funding costs and margins. Rao warns against over-reliance on wholesale funding and urges banks to develop sophisticated stress-testing methodologies and maintain adequate liquidity buffers. He also emphasizes the need for NBFCs to diversify their funding sources.
RBI has eased rules for asset reconstruction companies (ARCs) to settle dues with defaulters based on the realisable value of assets. Smaller loans up to Rs 1 crore can be settled through a board-approved policy, while larger loans require a board-level panel decision. This change aims to improve recoveries and expedite settlements for personal loan defaults.
The Indian government is reviewing the import basket to consider sourcing certain items from the US, aiming to improve trade balance amid Trump's concerns over high import tariffs. India targets sectors like pharma and electronics as potential beneficiaries due to increased tariffs on Chinese imports and security restrictions on China.
Aditya Birla Group chairman Kumar Mangalam Birla identifies the “Trump factor” as influential in global dynamics for 2025. The US is a vital market for the conglomerate, which has invested over $15 billion there. Birla highlights India's emerging industrial strengths, exemplified by Apple's ecosystem shifting to India and UltraTech Cement's significant growth, reflecting India's role in global manufacturing.
India's IT sector has shifted towards automation, leading to a collective net headcount reduction of 2,587 in the December quarter. Major firms like TCS, Wipro, and Tech Mahindra saw workforce declines. Experts believe this trend will continue, with the IT sector adding fewer employees compared to the previous year. Increasing revenue productivity has decreased the need for headcount growth.
Nate Anderson and his firm Hindenburg are under scrutiny for alleged connections with hedge funds while preparing reports targeting companies. Documents filed in an Ontario court suggest collaboration between Hindenburg and Anson hedge fund, potentially leading to securities fraud charges. Anderson and Anson's Moez Kassam have yet to respond to the allegations.
The telecom department (DoT) and companies in India used the 'International Incoming Spoofed Calls Prevention System' to block 70% of spoofed calls, reducing them from 1.5 crore to 5 lakh daily. They are now tackling scams using virtual private networks. AI tools like ASTR identified 78 lakh fraudulent connections, blocking many and leading to 365 FIRs.
Small-ticket personal loans under Rs 10,000 saw higher delinquency rates, especially for loans taken between Dec 2023 and June 2024. NBFCs, focusing on borrowers outside major cities, dominated this segment. Despite some high-risk reductions, delinquencies rose post-March 2024 due to macroeconomic challenges. The report stresses ongoing risk assessment and careful monitoring of borrower credit scores for sustainable lending.
Government and RBI are considering a 'cooling off facility' to block funds received in bank accounts to combat online frauds. This measure targets mule accounts used in digital payment frauds. Multiple ministries and banks are collaborating to strengthen verification and prevent misuse, making it a top priority for bank CEOs to address this growing issue.
EPFO has introduced new facilities to enhance convenience for its 7.6 crore members, including online EPF transfer claims using Aadhaar OTP and self-correction of personal details in UANs issued after Oct 1, 2017, without the employer's intervention. These changes aim to streamline processes and reduce grievances related to member profiles and transfers.
China is restricting the movement of employees and specialized equipment for high-tech manufacturing to India and Southeast Asia, aiming to prevent production shifts due to possible US tariffs under President-elect Trump. The measures target technology transfers, potentially impacting companies like Foxconn and affecting India's solar panel and electric vehicle manufacturing sectors. Beijing denies harmful actions, aiming to retain production and jobs.
Adani group stocks surged as news of Hindenburg Research's closure emerged, alongside positive developments in the Israel-Hamas conflict, increasing market capitalization by Rs 28,000 crore. Notably, NDTV rose 10%, Ambuja Cements 4%, and Adani Enterprises 1.7%. However, Adani Wilmar continued to decline. Despite the boost, the group's market value remains significantly below its peak following Hindenburg’s damning report in January 2023.
India's trade deficit fell to $22 billion in December as exports declined 1% to $38 billion and imports rose 5% to $60 billion. Key factors included a drop in oil product and gems exports, contrasted by rising electronics and garment shipments. Commerce secretary Sunil Barthwal highlighted the resilience of Indian exports and government strategies targeting top markets to boost trade amidst global challenges.
FMCG companies are expanding into rural areas where consumption is growing faster than in urban areas, driven by higher household incomes from good monsoons. Firms like ITC and Zydus Wellness are offering smaller, affordable packs of their products to cater to these markets. Rural consumption of FMCG products grew by 6% in the September quarter, outpacing urban growth.
Net household financial savings in India improved from 5% of GDP in FY23 to 5.3% in FY24, and early indicators suggest a sharp rebound in the first half of FY25. This upturn is attributed to reduced household liabilities, boosted insurance savings, lower currency holdings, and robust capital market investments. Household debt also increased, reaching 41% of GDP in FY24.
India's market capitalization dropped below $5 trillion for the first time in over seven months due to a sliding market and a weakening rupee. Investor sentiment waned due to strong US jobs data, rising crude oil prices, and global market sell-offs, leading to heavy losses in midcap and smallcap stocks.
The Confederation of Indian Industry (CII) urges the government to streamline regulatory approvals through a national single window system, integrate all central ministries, and simplify frameworks to boost ease of doing business. Key proposals include time-bound approvals, faster dispute resolution, and improved land access.
China's inflation rose at its slowest pace in nine months, narrowly avoiding deflation in December. The consumer price index (CPI) eased to 0.1%, indicating muted inflation despite economic measures. Ongoing challenges in the property market and local government financing raise concerns about meeting Beijing's growth targets, with the IMF predicting a slowdown to 4.5% in 2025.
In 2024, 59 ultra-luxury homes valued at around Rs 4,754 crore were sold, with Mumbai leading in transactions. The most expensive deals included a Mumbai bungalow at Rs 500 crore and a Gurgaon apartment at Rs 190 crore. This year saw a higher sales value and demand for luxurious properties compared to 2023.
India's micro finance institutions (MFIs) have seen a surge of over 2,176 per cent in growth from Rs 17,264 crore in March 2012 to Rs 3.93 lakh crore by November 2024. Challenges such as fundraising and portfolio quality were discussed in a DFS meeting, with suggestions for credit guarantees and special funds.
Dr Krishna Ella, co-founder of Bharat Biotech, has been awarded the prestigious INSA India fellowship for 2025 for his significant contributions to vaccine technology and biotechnology. His work led to the development of India’s first indigenous Covid-19 vaccine, Covaxin. Bharat Biotech, established in 1996, has delivered over nine billion vaccine doses worldwide.
Global central banks continued to bolster their gold reserves in November 2024, adding 53 tonnes collectively. India, the second-largest buyer of the year, increased its reserves to 876 tonnes. Poland led purchases with 21 tonnes. Other notable buyers included Uzbekistan, China, and Turkey. Conversely, Singapore and Finland saw reductions in their gold reserves.
Investors encountered a significant hit on Monday as the stock market plummeted, erasing Rs 10.98 lakh crore in wealth. Key indices BSE Sensex and NSE Nifty both suffered steep declines due to concerns over foreign fund withdrawals and forthcoming third-quarter results. Amidst the downturn, sectors like utilities and power were particularly affected, with widespread FII selling intensifying the market bearishness.
India's services sector growth reached a four-month high in December due to strong demand and reduced inflationary pressures, as per an HSBC survey. The Services Business Activity Index rose to 59.3, reflecting robust new business inflows and continued job creation despite increased costs. Employment growth and positive business outlook persisted.
Titan Company Ltd reported a 24% annual growth in Q3, driven by strong festive demand in the jewellery segment. Plain gold sales soared 24%, while gold coins surged 48%. Watches grew 13%, despite a decline in wearables. EyeCare rose 17%. CaratLane saw 25% growth, expanding domestically and opening its first US store. Titan’s overall store count reached 3,240.
Traders anticipate a positive start to the first full week of the New Year, with Nifty futures indicating growth. Consumer stocks like Jubilant Foodworks and DMart show signs of revival, and auto stocks are gaining momentum. Indraprastha Gas and Mahanagar Gas rallied on hopes of increased natural gas supply. Fund managers are reconsidering their India bets amid China's economic uncertainty.
Senior officials from India's commerce ministry are meeting with commercial representatives from 20 countries to discuss strategies for boosting exports. The focus is on six key goods and services sectors, addressing non-tariff barriers, logistics, and WTO matters. Commerce Minister Piyush Goyal will also participate. India's export-import data reflects a significant trade deficit due to rising imports in November.
The World Bank's $20 billion package for Pakistan will support a 10-year programme focusing on areas such as child stunting, learning poverty, and climate resilience. This initiative aims to ensure stability in development projects despite political changes. An additional $20 billion in private sector lending brings the total investment to $40 billion.
