NCLAT dismisses Religare's appeal against CCI nod

NCLAT rejected REL's appeal regarding Burman's share acquisition. CCI ensures fair competition. Justice Khanna and Mehrotra maintained status quo. Fraud allegations, ESOP issuance, remuneration without approval are under scrutiny.

Women outnumber men in skills training

Jadeja breaks Dhoni's CSK record in IPL

Dharamsala (Himachal Pradesh): Chennai Super Kings all-rounder Ravindra Jadeja surpassed the franchise's legendary wicketkeeper batter, MS Dhoni, to become the player with the most Man of the Match awards for the five-time champions in the Indian Premier League. It was a through-and-through Jadeja show at the Himachal Pradesh Cricket Association Stadium. He starred with the bat and then produced a valuable spell to turn the tides in favour of the defending champions. He played a match-turning knock of 43 off 26 deliveries, which was further glistened with three boundaries and two maximums. With the ball, he picked up three important scalps while giving away just 20 runs in his four-over spell. He was adjudged Player of the Match for his influential performance and talked about his role for CSK.This marked the 16th time Jadeja was awarded the POTM award. He dethroned Dhoni, who held his spot at the top with a tally of 15 in the cash-rich league.Former CSK star, Suresh Raina is next on the list with 12 POTM awards, followed by current skipper Ruturaj Gaikwad, who holds an impressive tally of 11. Coming to the match, PBKS won the toss and elected to field first. CSK lost their wickets at regular intervals. Knocks from Ravindra Jadeja (43 in 26 balls, with three fours and two sixes), Ruturaj Gaikwad (32 in 21 balls, with four boundaries and a six) and Daryl Mitchell (30 in 19 balls, with two fours and a six) took CSK to a respectable 167/9 in their 20 overs.Rahul Chahar (3/23) and Harshal Patel (3/24) were the pick of the bowlers for PBKS. Arshdeep Singh got two wickets, while Sam Curran got one too.In the run-chase, PBKS lost two wickets early, with Tushar Deshpande (2/35) striking for Men in Yellow, but Prabhsimran Singh (30 in 23 balls, with two fours and two sixes) and Shashank Singh (27 in 20 balls, with four boundaries) helped them recover with a 53-run partnership. However, Ravindra Jadeja (3/20), Mitchell Santner (1/10) and Simarjeet Singh (2/16) helped CSK make a stunning comeback and restrict Punjab to 139/9 in their 20 overs. CSK moved to third place in the points table with six wins and five losses, giving them 12 points. PBKS is in the eighth spot with four wins, seven losses and just eight points.

'Congress 'Shehzada' wore sacred thread over his coat': PM Modi's dig at Rahul Gandhi over Janeu

PM Modi in Ayodhya: Prime Minister Narendra Modi, CM Yogi hold mega roadshow in 'Ram Nagari'

CM jailed before polls to stifle his voice: Sunita Kejriwal calls for vote against 'dictatorship'

Sunita Kejriwal said her husband was put in jail since he built good government schools, mohalla clinics and promised to give Rs 1,000 to every woman in Delhi.

2 years gone, but fuel transmission facilities are yet to take off

Though Petroleum Transmission Company (PTC)- PLC (public limited company) was formed about two years ago as new subsidiary of the Bangladesh Petroleum Corporation (BPC) to take over the operations and maintenance (ONM) responsibility of the fuel transmission facilities across the country, the new entity has to wait some more years to start the job. According to official sources, since the inception of the new entity, some 62 officials and employees were either recruited or deputed from other entities, but they are still not very capable to do a special technical category job, for which they have not enough experience. Admitting the issue, managing director of the PTC-PLC Md. Yousuf Hussain Bhuiyan said his organisation needs some more time to achieve the necessary capabilities to handle the petroleum fuel transmission activities. These are highly technical jobs which need experiences, expertise, technological knowledge to do operation and maintenance of fuel transmission facilities which we lag in this regard, he told UNB. He, also a general manager of the BPC, however, said the PTC-PLC is gradually trying to build up its capacity to overcome its bottlenecks. According to annual report 2023-24 of the BPC, the PTC- PLC was formed on August 4 in [] The post 2 years gone, but fuel transmission facilities are yet to take off appeared first on Energy Bangla .

CSK beat PBKS after Jadeja's all-round show

'Govt won't privatise GIC Re at this stage'

'Because it is the only public sector company in this sector, currently.'

Power and energy sector likely to get Tk 804 billion allocation in next two fiscal years

The government has set a target to allocate Tk 804 billion for the power and energy sector in the next two fiscals as it attaches top priority to the sector, aiming to transform the country into a developed one. Of the total amount, Tk 383 billion will be allocated for 2024-25 fiscal year while Tk 421.3 billion for 2025-26 fiscal year. The government has also formulated short, medium, and long-term plans to ensure sufficient power generation, transmission and distribution capacity. With the target of transforming Bangladesh into a developed country by 2041, the government has put the highest emphasis on the power and energy sector, an official document said. The document titled Medium Term Macroeconomic Policy Statement (2023-24 to 2025-26) said during the last one and a half decades, power generation capacity has increased to 27,361 MW (including captive and renewable) from 4,942 MW. It mentioned that the transmission and distribution lines increased to 14,672 km from 8,000 km, and the distribution lines increased to 6,28,562 km from 2,60,000 km. In line with the target of the 8th Five Year Plan for generating 10 percent of total electricity through renewable energy, the current capacity of such power generation stands at [] The post Power and energy sector likely to get Tk 804 billion allocation in next two fiscal years appeared first on Energy Bangla .

Home loan outstanding up by Rs 10 lakh cr in 2 yrs

Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'. Experts from banking and real estate sectors attributed this growth in housing credit outstanding to a strong revival in the residential property market post-COVID pandemic on pent-up demand. According to the data of the Reserve Bank of India (RBI) on sectoral deployment of bank credit for March 2024, the credit outstanding to the housing (including priority sector housing') stood at Rs 27,22,720 crore in March 2024, up from Rs 19,88,532 crore in March 2023, and Rs 17,26,697 crore in March 2022.

Potato to drive veggie inflation to double digits

Vegetable inflation in India is the most volatile component of food inflation

From 'Search: WWW' to 'Reply 1988': Korean Shows That Will Turn You Into A K-Drama Addict

From 'Search: WWW' to 'Reply 1988': Korean Shows That Will Turn You Into A K-Drama Addict

CECA talks: India collecting industry feedback on non-tariff barriers in Australia

Australia keen to fast-track negotiations for a deeper, free, trade pact with India

Slowing global economy to mean smaller revenue bump in Australian budget

Slowing global economy to mean smaller revenue bump in Australian budget Global economic weakness and a slowing domestic economy were among the reasons Australia will report a smaller revenue increase in its federal budget for the year ended June 30 compared to recent years, the government said on Sunday. The Labor government is expected to report a budget surplus on May 14, although it flagged in March a revenue upgrade would be smaller than the year before as commodity prices fell and the labour market softened. On Sunday, it said tax receipt upgrades in the budget, excluding those from goods and services tax, were expected to be more than A$100 billion ($66.08 billion) below the A$129 billion average upgrade in the last three budgets. The anticipated result was because of weakness in the global economy, a slower domestic economy, a softening labour market and lower commodity prices, it said. We are realistic about the challenges facing our economy and our budget this includes not expecting the same sorts of massive revenue upgrades that weve seen in recent budget updates to continue, Treasurer Jim Chalmers said in a statement. Chalmers has previously pointed to weaker commodity prices, in particular for major export iron ore, and rising unemployment as key drivers for the change. Australia's jobless rate hit a two-year high of 4.1% in January. In April he warned that events in the Middle East were fuelling concerns for the global economy and would shape the government's budget in May. ($1 = 1.5133 Australian dollars)

Love cheese burst pizzas? Make them easily at home with this recipe

Are you a fan of cheese burst pizzas? Now, make it at home with this easy recipe and enjoy it over the weekend.

Tory election hopes rest on the UK economy they could go the way of the monasteries | Larry Elliott

Three key economic indicators loom large but none offer great hope for the Conservatives survival Tory MPs have been busy this past week and probably not found the time to watch Shardlake , the adaptation of CJ Sansoms book set during the dissolution of the monasteries in the 1530s, but once the dust has settled from last weeks elections they might want to take a look. This was a turbulent period. Having forced through his own version of Brexit through the break with Rome, Henry VIII then in effect nationalised the assets of religious houses dotted around England, Wales and Ireland. It was a seminal moment in the development of British capitalism and the nation state. Continue reading...

Shooting in LA injures 7 people, police say

A shooting in the Los Angeles area has left seven people injured, including four who were listed in critical condition. Long Beach Police Department officers responded to a reported shooting around 11:15 pm Saturday in the area of South Street and Paramount Boulevard, the department said in a statement posted on social media. At least seven victims suffered gunshot wounds and were transported by emergency responders or self-transported to area hospitals. In addition to the four critical victims, three people had injuries that were not life-threatening, police said. The suspect or suspects fled before officers arrived, and there was no immediate information about a possible motive for the shooting, police said.

Blue corner notice issued against Prajwal Revanna

Factors that will guide the markets this week

The ongoing fourth quarter earnings season, global factors and macroeconomic data would guide the trends in the equity markets this week, analysts said. Markets would also take cues from trading activity of foreign investors, rupee-dollar trend and movement of global oil benchmark Brent crude. Domestically, the next batch of Q4 earnings reports will drive stock-specific movements, Hero MotoCorp, Larsen and Toubro, BPCL, State Bank of India, Eicher Motors and Tata Motors are some of the big names in the list and the next phase of voting, said Pravesh Gour, senior technical analyst, Swastika Investmart Ltd.

Ooty's stunning attractions: Must-see places to visit!

Explore the lush gardens, serene lakes, scenic peaks, historic railway, charming tea estates, cultural heritage sites, and botanical marvels of Ooty, offering a captivating blend of nature, history, and culture.

Netanyahu says ending Gaza war now would keep Hamas in power

Netanyahu said Israel was willing to pause fighting in Gaza in order to secure the release of hostages still being held by Hamas, believed to number more than 130.

ET explainer: Why RBI's dividend payout to govt this year will be lower

The budget estimates dividend transfer in FY'2024-25 at Rs 102 crore from the Financial sector entities including the Reserve Bank and public sector banks. But a bulk of the dividend flows is from the central bank.

'Heeramandi' cast salaries: How much did the actors charge?

'Heeramandi: The Diamond Bazaar' explores pre-independence India through the lives of courtesans. Bhansali directs this Netflix series, revealing a world of romance, history, and politics. Cast salaries and production costs reflect the show's grand scale and ambition.

A winner-takes-all economy is bad for innovation and art

An intellectually homogenous establishment that determines how artists are rewarded can cramp diversity of thought. Conventional thinking doesnt create art.

Will my capital gains below 5 lakh be taxed if I have no other income?

Capital gains arising from transfer of a long-term capital asset being equity share in a company or units of equity oriented mutual fund, shall be taxed at 10% on capital gains exceeding 1 lakh, if STT has been paid at the time of acquisition and transfer of such capital asset.

IIIPI to include support services by IPEs under peer review

This decision was taken in the recent Governing Board meeting of IIIPI

Godrej Prop's 30K cr housing push in FY25

Realty firm Godrej Properties plans to launch residential projects worth Rs 30,000 crore this fiscal across major cities to achieve 20 per cent growth in sales bookings amid strong demand, its executive chairperson Pirojsha Godrej said. In an interview with PTI, Pirojsha said, We have given a sales bookings guidance of Rs 27,000 crore for the current fiscal, a 20 per cent growth from high base in 2023-24. In the last fiscal, the company's sales bookings jumped 84 per cent to a record Rs 22,527 crore, from Rs 12,232 crore in the preceding year. This is the highest sales reported so far by any listed entity for FY'24. Pirojsha said the housing demand continues to be strong, especially for reputed brands. It (2023-24 fiscal) was a great year overall, whether you look at launches, sales, collection from customers, business development, deliveries of projects, cash flow and profit. We are really excited to see the kind of momentum in the business. He expected housing demand to sustain in the coming years. To tap this demand, Pirojsha said the company has lined up launches of multiple projects across Delhi-NCR, Mumbai-Metropolitan Region (MMR), Bengaluru, Pune, and Hyderabad markets. We are planning to launch six projects in Delhi, Gurugram and Noida this fiscal, he said. According to an investors presentation, Godrej Properties plans to launch 21.9 million (219 lakh) square feet area this fiscal with an estimated sales booking value of Rs 30,000 crore. Not only launches and sales, Pirojsha said the company would continue acquiring land parcels for future development and also step up deliveries of projects. The significant levels of business development (land acquisition) we have executed in previous years at favourable terms allowed us to scale our bookings by 84 per cent to Rs 22,527 crore in 2023-24 and become the largest publicly listed real estate developer in India by sales, Pirojsha said. He noted that the housing sector has been strong over the past three years and exuded confidence that the sectoral tailwinds would continue over the next few years. On Friday, Godrej Properties reported its highest-ever quarterly profit as earnings jumped 14 per cent annually to Rs 471.26 crore in the March quarter. Its net profit stood at Rs 412.14 crore in the year-ago period. Total income rose to Rs 1,914.82 crore in the fourth quarter of FY24, from Rs 1,838.82 crore in the year-ago period. During the 2023-24 fiscal, the company's net profit increased to Rs 725.27 crore, from Rs 571.39 crore in the preceding year. Total income rose to Rs 4,334.22 crore in FY24, from Rs 3,039 crore in 2022-23. The company delivered 12.5 million square feet area in the last fiscal and is targeting to scale it up to 15 million square feet in 2024-25. Godrej Properties, part of Godrej Industries Group, is one of the leading real estate developers in the country.

Mid or small-cap fund? This is how investors can have best of both with lower risk

While there is growing echoes and concern about individual allocation to mid and smallcaps, there is also enough interest to allocate money in these segments together due to return potential.

India has stringent standards for pesticide residue limits, revision in norms for spices done on recommendation of scientific panel

FSSAI says in spices limits increased to 0.1 mg/ kg done for residue limits of those pesticides that is not registered in India

Interest rates and prudential norms together help home loan quality: Research

The research paper written is jointly by Amar Nath Yadav, Vivek Kumar and Jyoti Kumari of the Reserve Bank of India's Department of Statistics and Information Management and the external contributor Alok Kumar Chakrawal , vice-chancellor of Guru Ghasidas Vishwavidyalaya, Chhattisgarh. The views expressed are not necessarily of the central bank.

SMS Fraud: Swindlers' new trick to fleece you follow these steps to be on guard

One of the latest ways to take investors for a ride is through fake messages. A random person claiming to know someone close to you will call you to ask for your UPI details so that s/he can send the money. A fake message later, they will ask you to send some if the excess money back.

Crowd is right on trends, but wrong on ends: Nimesh Chandan of Bajaj Finserv AMC

Chandan, a contrarian investor, says he waits for right overreaction from market participants

With 18% increase in passenger volume, CIAL launches more services

CIAL continues to maintain increased passenger volume with more than one crore passengers through during 2023-24

FSSAI calls reports of allowing 10x more MRL in herbs, spices as 'false and malicious'; says India has most 'stringent standards'

The Food Safety and Standards Authority of India (FSSAI) has clarified that it allows 10 times more pesticide residue levels in herbs and spices, stating that it has one of the most stringent standards of Maximum Residue Levels (MRL) of pesticides. The MRLs of pesticides are fixed differently for different food commodities based on their risk assessments. India has registered over 295 pesticides, with 139 approved for use in spices alone.

India has unexplored opportunities: Buffet

Legendary investor and Berkshire Hathaway Chairman and CEO Warren Buffett is bullish on India. Presiding over the company's annual meeting on Sunday, the nonagenarian investor said there are loads of opportunities in India.To a question on whether his company Berkshire was actively looking for opportunities in India, Buffett, without getting into specifics, said there are unexplored or unattended to opportunities and areas in India.Berkshire Hathaway's business and investment model is focused on acquiring and managing businesses across multiple industries In India, I am sure that there are loads of opportunities in a place like India, and the question is do we have any advantage, in either insights into those businesses or contacts that will make possible for some transactions that participants in India would particularly want us to participate, the nonagenarian investor said.I would say that's something that more energetic management at Berkshire could pursue because we do have a reputation now and is known around the world and our Japanese experience has been fascinating. In that respect, so there may be an unexplored or unattended to opportunities and area (in India), he added.Hinting at a foray in India, he said it would not take much time before it pursues opportunities in the country He added Berkshire's new management will decide on investments in India.We will see how the next management plays the game out at Berkshire and fortunately you don't have too long to wait on that generally, he said.Firm GDP growth forecasts, inflation at manageable levels, political stability at the central government level, and appreciable central bank monetary policy, have all contributed to painting a bright picture for the Indian economy in recent quarters.India's GDP grew at a massive 8.4 per cent during the October-December quarter of the current financial year 2023-24, and the country continued to remain the fastest-growing major economy and is poised to maintain its growth trajectory going ahead.India is set to remain the fastest-growing among major economies in 2024, according to latest International Monetary Fund's latest World Economic Outlook. IMF, in its latest outlook, raised India's growth projections for 2024 from 6.5 per cent to 6.8 per cent.India's economy grew 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22, respectively.India's GDP is currently ranked 5th, after the US, China, Germany, and Japan, and is projected to become the third in a few years.

Invest smartly, don't let FOMO fool you

When FOMO takes over, investors often make decisions that prioritize immediate excitement over long-term financial health.

Bangladesh economy faces three risks: CPD

Persistent inflation, a snowballing debt burden and slow economic growth are the three challenges to Bangladesh, according to Debapriya Bhattacharya, a distinguished fellow at the Centre for Policy Dialogue (CPD)

The stethoscope's fate hangs in balance

For over 200 years doctors have leaned on this trusty medical tool to poke, prod, listen and draw accurate inferences about what ails the patient. Until technology changed it. With echocardiograms and nifty pocket-sized ultrasound devices elbowing their way into the diagnostic arena, a recent conference on AI and healthcare at Bombay Hospital in Marine Lines, became the stage for doctors to deliberate the fate of this iconic medical relicthe stethoscope and whether the revered art of auscultation the act of detecting maladies from listening to sounds from the heart, lungs or other organsmight actually follow the path of the doctors head mirror and fade away. 109847711 In 2016, as the stethoscope hit its bicentennial milestone, The Guardian wrote about how instead of celebrating its age, the world might be witnessing the beginning of its end after Dr Jagat Narula, a prominent Indian-origin cardiologist in New York, declared that the stethoscope is dead while W Reid Thompson, an associate professor of paediatrics at Johns Hopkins University School of Medicine countered it. Closer home, the medical fraternity remains sharply divided. According to interventional cardiologist Dr Satyavan Sharma, advancements in technology will diminish the reliance on traditional stethoscopes. He predicts the analogue versionwhere doctors listen to the heart and lungs by placing a probe in their ears and the chest piece on the patientwill face formidable competition from electronic, digital, and now AI-powered versions. Gradually, the shape will change. Doctors will move around with AI-enabled ones, rather than using their ears and the brain, says Sharma, adding AI-based devices have the ability to analyse and offer diagnosis instantly, limiting manual interpretation.Dr Lancelot Pinto, a respirologist, however, scoffs at the idea of a stethoscope-less world in medical practice. Its just evolved in different ways, he says, pointing out that AI-based technologies now incorporate acoustic analysis, with devices like the one he developed at IIT that can attach to a stethoscope, record, and analyse sounds graphically and be transmitted via bluetooth or an app. But these advancements dont mean that the stethoscope is redundant as the first point of contact with a patient, adds Pinto.Stethoscopes can detect heart murmurs for cardiac irregularities, lung sounds for respiratory issues, and bowel sounds for gastrointestinal assessments. However, many of these functions are now being taken over by new-age diagnostic devices, sometimes with greater efficiency, said Dr Arun Nayak, head of gynaecology at LTMG (Sion) Hospital. He said fetal doppler machines, for example, excel in listening to fetal heartbeats and earlier into a pregnancy. To think the stethoscope wont change with technology would be naive, Dr Nayak said. Six months ago, the UK launched a programme under which they planned to deploy AI-enabled smart stethoscopes to 100 general physicians to aid in the early diagnoses for heart failure. Dr Sharma, though, believes countries like India will continue to rely on traditional stethoscopes longer than others due to their ease of use and affordability.Interestingly, despite the advancements, the classic device remains a cornerstone of diagnosis taught in all medical colleges. Medicine cannot be taught until students learn to interpret heart murmurs and abdominal sounds, said internal medicine expert Dr Niteen Karnik. The real issue, Dr Pinto said, is that the skill of using the instrument may have taken a beating among todays physicians. Whats happening is students are not being trained to use stethoscopes as well as they used to because theres an inclination to do tests left, right and centre, he said. Cardiologist Dr Sharma agrees that it is the overall art of clinical diagnosis that is under threat and not stethoscope alone. The moment you meet a patient, initiate dialogue, and then physically examine them, its about building a connection. That connection may be lost, said Sharma. He isnt ready to bid farewell to his trusted sidekick just yet. It will remain my companion until the end, he assures.

Election Commission nod taken before lifting ban on onion exports: Govt sources

The government on Saturday lifted the ban on onion exports, a decision that can help boost income of a large section of farmers and comes ahead of the Lok Sabha polls in key producing regions including Maharashtra. The government has imposed a minimum export price (MEP) of USD 550 per tonne (around Rs 46 per kg) as well as 40 per cent export duty. Taking duty into account, the shipments will not be allowed below USD 770 per tonne (around Rs 64 per kg).

Harvesting hope: Charting a course towards water-resilient agriculture

Indias farming sector is at a crossroads, facing the daunting challenge of balancing productivity with availability of water

Banks turn aggressive on Commercial Real Estate lending

CRE portfolio of scheduled commercial banks grew by a robust 22.94% year-on-year (yoy) as on March 22, 2024, against 8.52% as on March 24, 2023; Stronger regulations, deleveraging by listed developers and the advent of real estate investment trusts (REITs) support lending to the sector

No need to capture PoK by force; its people will themselves want to join India, Rajnath Singh feels

India will never surrender its claim on Pakistan-Occupied-Kashmir (PoK) due to the region's economic progress and peace. Defence Minister Rajnath Singh stated that the ground situation in Jammu and Kashmir has improved significantly, and a time will come when the Armed Forces Special Powers Act (AFSPA) will no longer be required in the Union Territory. He also mentioned that assembly elections will be held there soon, but did not provide a timeline.

Milk price soars to PKR 210/L in Karachi

The price of milk at Karachi in fiscally-stressed Pakistan shot up to 10 per litre after the city's commissioner approved a hike, acceding to the demands of the Dairy Farmers Association, ARY News reported.As per the commissioner's directives, the price of milk has surged by PKR 10 per litre, with shops in Karachi now selling milk at PKR 210 per litre.Earlier speculations of a potential PKR 50 per litre increase in milk prices have loomed over the inflation-burdened citizens of Karachi, ARY News reported.Mubasher Qadeer Abbasi, the president of Dairy Farmers Karachi, has indicated that an increase of PKR 50 per litre of milk is expected soon for the people of Karachi. Abbasi cited the high cost of milk production, soaring cattle prices, and government negligence as factors contributing to this imminent rise.Abbasi stressed the urgency for the Karachi Commissioner to promptly issue a notification regarding the new prices aligned with the milk production costs.He further emphasised that if the authorities do not announce the increase in milk prices by May 10, stakeholders will take matters into their own hands and raise prices after consensus.Recently, the Sensitive Price Indicator (SPI) assessed the weekly inflation in Pakistan, revealing a one per cent decrease across combined consumption groups for the week ending May 2.The SPI for this week within these groups is at 316.95 points, a drop from the previous week's 320.14 points, according to ARY News.Compared to the same week last year, there's been a 24.37 per cent increase in the SPI for the combined consumption group this week. The weekly SPI, calculated with the base year 2015-16 = 100, covers 17 urban centres and 51 essential items across all expenditure groups.For the lowest consumption group, up to PKR 17,732, there was a decrease of 1.09 per cent, with the SPI dropping to 306.26 points from last week's 309.64 points, ARY News reported.

Surge in Election Spending Poised to Boost Rural Economy, Experts Predict

Surge in Election Spending Poised to Boost Rural Economy, Experts Predict Even as the 2024 Lok Sabha polls have started to unfold, anticipation remained high not only in the political landscape but also about the ripple effects on the economy, particularly in rural India, as experts described the elections as the most expensive one ever fought in the country's history. With an expenditure of a staggering Rs 1.35 lakh crore estimated by N Bhaskara Rao, who chairs the Centre for Media Studies and has been tracking election spending for 35 years, significant parts of the amount spent during the polls will reach the pockets of India's rural population boosting sales, business houses feel. According to a study, about 35 per cent of election expenditure in the 2019 Lok Sabha elections in India was made on campaigns and publicity. The second highest expenditure head was payments to voters via various means hiring workers, purchasing campaign materials, freebies and direct cash transfers in some cases. Industry leaders expect these will have a positive impact on the economy, especially in India's countryside. ''The considerable election expenditure anticipated over the next two to three months would ignite a notable increase in rural spending. Propelled by optimism and economic activity stemming from political campaigns, this surge in rural demand will be fortified,'' Keshav Bhajanka, Executive Director of India's top plyboard maker, Century Plyboard, told PTI. He said his company aims to leverage this opportunity by monitoring rural market dynamics and adapting its product offerings and marketing strategies to align with the evolving preferences and needs of rural consumers. ''The company also plans to intensify its efforts to expand its distribution network and enhance brand visibility in rural areas to capture a larger share of the anticipated post-election market growth,'' Bhajanka said. Shreeram Bagla, Managing Director of city-based snacks major Annapurna Swadisht, highlighted that rural demand for the FMCG sector as a whole had been slightly subdued during the second and third quarters of the 2023-24 fiscal. ''We are expecting a steady recovery in demand in the rural and semi-urban markets in the wake of higher spending on election-related expenses. The government seems to be laying a major thrust on boosting the rural economy. This is likely to spur consumption in villages, thereby shoring up the demand for FMCG products,'' Bagla noted. Emami Ltd, another FMCG major with considerable rural dependence, also expressed a positive outlook. ''We expect the economy to bounce back on multiple counts in the backdrop of the election. First, anticipation of a good monsoon is expected to boost the rural economy. Secondly, with the softening of raw material prices, while companies are gearing up to pass on the benefits to the consumers, they will also invest more in brand building. The combination of these will definitely push the demand for the FMCG sector up,'' Emami Wholetime Director & Vice Chairman, Mohan Goenka, told PTI. Amnish Aggarwal, head of Institutional Research at Prabhudas Lilladher, while offering a nuanced perspective, pointed out that in present circumstances election spending may not be boosting rural demand in the manner it did before. Reflecting on the trends observed in past elections, Aggarwal underscored that the correlation between poll expenditure translating into a surge in rural demand is over-hyped in current times due to cash movement restrictions which are imposed with the model code of conduct. ''This direct correlation was perhaps true a decade or more ago. Factors like the anticipation of a good monsoon and inflation play pivotal roles in shaping consumer behaviour in current times compared to cash flow during polls,'' he said. Political parties, though, acknowledged that demand for vehicles goes up during poll seasons, whether sourced from rentals or new purchases for use in election activities. Automobile sales in March this year were up by 10 per cent over last year, totalling 3.7 lakh vehicles. However, a senior official of a major car company said that on account of model code of conduct-related restrictions, overall sales of both passenger and commercial vehicles were subdued in April. Grassroots-level workers of political parties said that there has been a high purchase of snacks and beverages and certain FMCG items required for workers. FMCG products are also used as freebies for audiences brought to political rallies, they said. A shopkeeper in Hooghly district stated, ''Local political leaders become more generous during election times, and we sell more.'' West Bengal's Chief Electoral Officer confirmed that since the commencement of MCC, freebies worth Rs 57.67 crore have been seized from the state.

Indian economy will regress if Congress manifesto implemented: Nirmala

Pune: If Congress poll manifesto were to be implemented, the Indian economy currently ranked among the top five globally, would regress into the fragile five, Union Finance Minister Nirmala Sitharaman said on Saturday. She claimed the Congress poll document is more akin to a Muslim League document and the BJP is duty-bound to question its Get the latest updates in Hyderabad City News , Technology , Entertainment , Sports , Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS .

Terrorists attack IAF convoy in J&Ks Poonch; Defence experts react 'Game being played by Pak'

Tourism, employment, growth of local economy will be my priority: Manhas

Rajouri, May 04: Apni Party Vice President and contesting candidate for RajouriAnantnag Parliamentary seat, Zafar Iqbal Manhas on Saturday assured the people that he would not disappoint them. My prime duty is to represent you without any partiality and ensure equal development in Pir-Panjal region, he said while ensuring them that their unfulfilled demands will []

Tamil Nadus economy expected to grow at 8.08% to 10.69% in 2024-25, says study

Tamil Nadus economy expected to grow at 8.08% to 10.69% in 2024-25, says study - The Hindu

Tamil Nadus economy expected to grow at 8.08% to 10.69% in 2024-25, says study The Hindu

Kotak Mahindra Bank reports 25% rise in Q4 net profit

Kotak Mahindra Bank on Saturday reported a 25 per cent growth in its March quarter net profit at Rs 5,302 crore, limited by a drop in the core income due to narrow interest margins. On a standalone basis, the city-headquartered lender's Q4 net profit grew 18 per cent to Rs 4,133 crore. The FY24 consolidated net profit grew 22 per cent to Rs 18,213 crore.

Economy Would Regress Into Fragile Five If...: Nirmala Sitharaman Attacks Congress

If Congress' poll manifesto were to be implemented, the Indian economy currently ranked among the top five globally, would regress into the fragile five, Union Finance Minister Nirmala Sitharaman said on Saturday.

Export ban lifted before voting in Maharashtra onion belt

The Directorate General of Foreign Trade (DGFT) on Saturday issued a notification permitting the export of onions with the Minimum Export Price (MEP) to $550 per tonne and 40% export duty. A ban on export was hurting the onion farmers in the Western Maharashtra and Marathwada, the area known as the onion belt of the country. These two regions alone produce 40% of the overall onion production of the country.

Indian Economy Faces Risks under Congress Manifesto, Warns Nirmala Sitharaman

Indian Economy Faces Risks under Congress Manifesto, Warns Nirmala Sitharaman If Congress' poll manifesto were to be implemented, the Indian economy currently ranked among the top five globally, would regress into the ''fragile five'', Union Finance Minister Nirmala Sitharaman said on Saturday. She claimed the Congress poll document is ''more akin to a Muslim League document'' and the BJP is duty-bound to question its import. Sitharaman's attack comes against the backdrop of the 'conducting an economic survey and x-ray of society' remarks made by Rahul Gandhi and the BJP's allegation that Congress is planning redistribution of wealth if voted to power. ''It is the worst manifesto which is not in the interest of the nation,'' Sitharaman said. Speaking at a meeting with select journalists in Pune, the finance minister wondered whether the Congress has conducted the necessary financial planning to fulfil the assurances listed in its manifesto. ''I know they are not coming to power, but I would still like to ask, even if the subject of the Congress manifesto were to be implemented, has the Congress done the homework on the expenditure required to fulfil the promises listed in the manifesto?'' she asked. Citing the case of Congress-ruled Karnataka, Sitharaman said they (Congress) attempted to implement the promises made during the state polls despite knowing that they had no funds. ''The deputy chief minister (of Karnataka) publicly acknowledged that they were left with no funds for development as the money was spent on fulfilling five promises made during elections,'' she said. ''This is just about one state. If similar measures (in Congress' poll manifesto) were to be implemented across the country, the economy, currently ranked among the top five globally and projected to rise to the third position in the next couple of years, would regress into the 'fragile five','' the finance minister said. It is the BJP's duty towards the nation to question the poll document of the Congress. Notably, Prime Minister Narendra Modi has accused the Congress of planning to redistribute peoples property if it is voted to power. On its part, the Congress has accused the PM of resorting to ''lies'' and diverting people's attention from the real issues. Responding to a query, Sitharaman said it is the BJP which has set the agenda for the elections. ''Our response to the Congress' manifesto is neither defensive nor negative, rather it is more offensive and substantive,'' she said. The manifesto is more akin to a Muslim League document, and if not, the Congress should stand up and counter this observation (of BJP), Sitharaman said. Referring to the criticism that BJP is spreading misinformation about Congress's manifesto, Sitharaman said, ''What is wrong? We are asking questions. (The manifesto) is the fundamental point of departure from the Congress's ideology, if there was one''. According to Sitharaman, there is a consistency in the way the opposition is prioritising wealth and its rights on the wealth. ''The Congress is saying something in the manifesto. It is saying something more to supplement it during public rallies,'' Sitharaman said when asked why PM Modi is raising the issue of the redistribution of wealth on religious lines. She said Congress leader Rahul Gandhi has repeated this point (conducting caste census) when he spoke about doing the 'x-ray' of the society. ''One can say that Congress did not mean it (redistribution of wealth) but they say they mean it. When PM Modi asked about it...he asked because he saw the trend....he saw the written word and also the spoken word. So he is saying that this is what they are going to do,'' Sitharaman added.

Russia puts Zelenskiy on wanted list

Russia has opened a criminal case against Ukrainian President Volodymyr Zelenskiy and put him on a wanted list, the state news agency TASS reported on Saturday, an announcement Ukraine dismissed as evidence of Moscow's desperation. TASS reported that the Russian Interior Ministry database showed Zelenskiy was on a wanted list but gave no further details. Ukraine's foreign ministry noted Russian President Vladimir Putin was himself subject to arrest under an International Criminal Court warrant. We would like to remind you that unlike the worthless Russian announcements, an International Criminal Court warrant for the arrest of Russian dictator Vladimir Putin on suspicion of war crimes is quite real, and subject to implementation in 123 countries, the foreign ministry said in a statement. It said the Russian announcement was evidence of the desperation of the Russian state machine and propaganda, which can think of no other way to attract attention. Russia has issued arrest warrants for a number of Ukrainian and other European politicians since the start of the conflict with Ukraine in February 2022. Russian police in February put Estonian Prime Minister Kaja Kallas, Lithuania's culture minister and members of the previous Latvian parliament on a wanted list for destroying Soviet-era monuments. Russia also issued an arrest warrant for the International Criminal Court prosecutor who last year prepared Putin's war crimes warrant.

Mumbai City lifts ISL Cup, beats Mohun Bagan

Mumbai City FC has become the winner of Indian Super League 2024.In a thrilling match, at the Salt Lake Stadium in Kolkata, Mumbai City beat Mohun Bagan 3-1.It was kind of a revenge for the Mumbai team as last month the Mariners edged past the Islanders 3-1 to dethrone Mumbai City FC and get crowned the ISL Champions. Back in 2020-21, the Mariners lost to Mumbai City FC 2-1 in the ISL final, and Antonio Lopez Habas was at the receiving end of that result. Three years back, Mohun Bagan had squandered a 1-0 lead to to suffer a 1-2 defeat against the same team at the ISL final held in Margao, which was played behind closed doors due to the COVID-19 pandemic.

Paytm COO Bhavesh Gupta quits; senior mgmt rejigged

Paytm's parent company One97 Communications president and chief operating officer Bhavesh Gupta has resigned from the company, an official statement said on Saturday. As part of a change in leadership structure, fintech firm Paytm has appointed Rakesh Singh as chief executive officer of Paytm Money.

Actress Kareena Kapoor Khan appointed as UNICEF India's National Ambassador

Madonna's Final Celebration Tour concert: How to watch it free in US, free streaming, free entry

It has been said on the official website of Madonna that no tickets are required for the last show of her Celebration World Tour, entrance will be applied on a first come first serve basis the day of the event at Belmond Copacabana Palace Hotel.

Fortnite-Marvel Collaboration: See all about upcoming Loki and Sylvie Laufeydottir cosmetics

Fortnite teams up with Marvel's Loki for new in-game cosmetics. Players can expect two bundles featuring Loki and Sylvie, each including a backbling and pickaxe, with unique emotes. These cosmetics can be purchased separately.

LS polls: PM Modi holds roadshow in UP's Kanpur

PM Modi's roadshow in UP for BJP candidates for Kanpur and Akbarpur Lok Sabha seats featured a large crowd, lotus symbol, slogans, Yogi Adityanath, voting date on May 13, and Akhilesh Yadav's candidacy in Kannauj.

Paytm COO and president Bhavesh Gupta quits

Bhavesh Gupta, the chief operating officer and president of One97 Communications-owned Paytm, has put in his papers citing personal reasons. This will be the fourth high profile exit at the Paytm Group in the last one month. In line with our on-going conversations, due to personal reasons, I will be unable to continue as President Continue reading Paytm COO and president Bhavesh Gupta quits The post Paytm COO and president Bhavesh Gupta quits appeared first on Entrackr .

Terrorists attack Air Force convoy in J&K, 5 injured

Kareena appointed UNICEF India Ambassador

UNICEF India on Saturday announced Bollywood star Kareena Kapoor Khan as its new National Ambassador. The Crew star, who has been associated with UNICEF India since 2014, will support the not-for-profit organisation in furthering every child's right to early childhood development, health, education and gender equality, a press release said. Kareena had earlier served as a Celebrity Advocate for UNICEF India. There are few things as important as the rights of children, the future generation of this world. I am honoured to continue my association with UNICEF now as India's National Ambassador, the 43-year-old actor said in a statement. I will strive to use my voice and influence for vulnerable children and their rights, especially around early childhood, education and gender equality. For every child deserves a childhood, a fair chance, a future, she added. Besides Kareena, UNICEF India has also appointed its first-ever Youth Advocates, who are peer leaders and champions on issues like climate action, mental health, innovations and Girls in STEM (science, technology, engineering and mathematics). The four advocates are Gauranshi Sharma from Madhya Pradesh on right to play and disability inclusion; Kartik Verma from Uttar Pradesh on climate action and child rights advocacy; singer Nahid Afrin from Assam on mental health and early childhood development; and Vinisha Umashankar from Tamil Nadu is a budding innovator and STEM pioneer. These youth advocates are part of UNICEF's global programme and join a cohort of more than 93 youth advocates who have been appointed across the globe and are driving change on issues concerning children and young people, UNICEF India said. UNICEF India Representative Cynthia McCaffrey said she is delighted to welcome Kareena Kapoor Khan as the National Ambassador. She has brought energy and impact through her support to several national and global campaigns. She joins as UNICEF India National Ambassador together with our four Youth Advocates to the UNICEF family. We look forward to working with her and the four youth advocates to continue advocating for child rights, she added.

Ensuring pensions in Indias booming economy

The disparity between Indias fastest growing economy status and its neglect of robust social security measures demands transformative solutions to dignify its ageing population and align policies with economic growth. As the Union Government continues...

Fed-Obsessed Traders Need The Economy To Get Its Story Straight

Constructive pronouncements from Federal Reserve Chair Jerome Powell and softer employment data fueled the uptick. Yet divergent economic reports are proving costly again and again for investors placing bets on the Feds next move on interest rates a move that ostensibly hinges on the economic data.

Will Lovely's return to BJP hurt AAP-Congress?

RCB Vs GT IPL 2024: Predictions, pitch report, stats, key players, and more

RCB and GT face off in a crucial IPL match with key players like Kohli, Jacks, and Gill in the spotlight. Rashid Khan's performance and the high-scoring trend at the venue add to the excitement.

NCLT sees 43% jump in debt resolution cases

Kolkata, Amid several bottlenecks, the Insolvency Bankruptcy Board of India (IBBI) declared 2023-24 as a landmark year, with the National Company Law Tribunal achieving a significant 43 per cent increase in resolutions, jumping from 189 cases last year to 270 this year. The IBBI is expected to submit a report to the government over the next 2-3 months for including mediation in the Insolvency and Bankruptcy Code (IBC), which is currently under discussion and scrutiny. The regulator is also working on prepackaged insolvency for large corporate cases, which is only allowed in MSME cases as of now. For the first time in a year, the number of outputs has increased from the number of inputs, reducing the pendency across India, said Sudhaker Shukla, an IBBI whole-time member, while addressing the CII organised 7th Insolvency and Bankruptcy Code conclave. He said that despite bottlenecks in the last seven years, resolution of 3.5 lakh crore was achieved, and 27,000 applications worth Rs 10 lakh crore were withdrawn, making the IBC a powerful tool for debt resolution in the country. Shukla stated that the law has evolved over time and that the interventions to improve it have been remarkable. In 2023-24, around 12 amendments and 86 interventions have been made in the IBBI within a single year. This portrays that we are responding to market requirements to bridge the gaps, he said. He further added that a sectoral approach has been adopted to address unique problems for a speedy resolution, like in real estate. We are trying to follow the sandbox approach. The recent amendments were made on real estate where project-wise resolution was made, keeping the allotted houses from liquidation was a big step forward in a sectoral approach, Shukla said. Speaking about the demand for mediation and prepacks for insolvency for large accounts, Shukla said it was currently under scrutiny and in the next 2-3 months, it will be submitted to the government. He further said prepacks for large accounts were also under consideration as they aim for speedy resolution. Prepackaged insolvency involves negotiating and agreeing on a resolution plan between the debtor and its creditors before going into formal bankruptcy. P Santhosh, Managing Director of NARCL, the government-backed bad bank, asserted that a delay in resolution will deteriorate the quality of the asset, making revival difficult. There are multiple factors contributing to this delay, and to avoid it, coordination with financial creditors is crucial. The concept of Prepack insolvency is yet to be adopted. However, many practitioners have discussed that this is one of the tools that can be extended to larger corporate disputes. Initially, there could be a promoter-led resolution plan, which can be improved over time, he said. B Sankar, the Deputy Managing Director (stressed assets) of State Bank of India, highlighted that the success of insolvency resolution depends on collaboration between creditors, distressed companies (often with suspended directors/promoters), and insolvency professionals. The conclave participants from insolvency professionals enriched themselves from NCLT Kolkata judicial members Rohit Kapoor, Balraj Joshi and Bidisha Banerjee who shared their inputs for speedy resolutions.

Funding and acquisitions in Indian startups this week [29 Apr-04 May]

During the week, as many as 27 Indian startups raised more than $340 million in funding. These deals include 9 growth-stage deals and 11 early-stage deals. Meanwhile, seven early-stage startups did not disclose the amount raised. Last week, about 27 early and growth-stage startups collectively raised around $222.7 million in capital. [Growth-stage deals] Among the Continue reading Funding and acquisitions in Indian startups this week [29 Apr-04 May] The post Funding and acquisitions in Indian startups this week [29 Apr-04 May] appeared first on Entrackr .

Bomb threat: Security up at Mangaluru Airport

Mangaluru (Karnataka), Security has been beefed up at the Mangaluru International Airport (MIA) after the airport authorities received an email about a bomb scare, police said on Saturday. Following the threat received on April 29, the CISF and the police got into multiple levels of security sweeps all over the airport. A First Information Report has been registered in Bajpe police station stating that a certain group identifying itself as 'Terrorisers 111' had sent the emails. The FIR quoting the email has stated that here are explosives placed in three places in the airport and we expect large scale bloodshed will happen. This warning and threat should not be taken lightly. Commissioner of police of Mangaluru city Anupam Aggarwal has confirmed that the FIR has been registered. According to sources, the MIA along with over 30 other Airport Authority of India and private airports received a bomb threat on mail on April 29, 2024. The mail was sent to 90+ email IDs of airports and security agencies - CISF. As per protocol, the MIA complained to the jurisdictional Bajpe police station where an FIR has been registered. According to the Indian Airports Manual, airport security machinery anywhere in the country takes up total search operations and ramps up security sweep. The standard protocol is followed every time when such threats surface. The 'terrorisers 111' has used the email address of the airports that is notified on the public websites of the airports.

Ban on onion export lifted; MEP of $550/tonne imposed

The government on Saturday lifted the ban on onion exports but imposed a minimum export price (MEP) of $550 per tonne, amid ongoing Lok Sabha elections in the country. Last night, the government imposed a 40 per cent duty on export of onions. In August last year, India had imposed a 40 per cent export duty on onions up to December 31, 2023.

UN spokesperson declines to react to Biden's claim that India's economy stalling due to 'xenophobia'

However, reports by several international organisations and multinationals tell a different story from that of Biden, who has a record of making fact-challenged statements.

Income tax: Home loan benefits when two houses are self-occupied

There is no restriction on the number of houses a person can own under the provisions of the Income Tax Act. Likewise, there is no restriction on the number of houses a person can avail of the tax benefits for a home loan

Is the worst of geopolitical crises over?

Global financial markets are wrong in hoping that the worst is over in geopolitical crises such as the Iran-Israel conflict and the Russia-Ukraine war, wrote Christopher Wood, global head of equity strategy at Jefferies, in a recent note to investors called 'GREED and fear'. While most investors and the media are focused on United States (US) Federal Reserve policy and the endless chatter of Fed governors, Wood believes the news flow in the financial sphere pales into complete insignificance compared with the ectonic shifts going on in geopolitics.

Rahul writes to K'taka CM over Prajwal's scandal

Real Estate Sector 86% , Delhi Bengaluru

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Indian investors should think about bond investments, say experts; here's why

SEBI's move to reduce the face value of debt securities from 1 lakh to 10,000 has made bonds more accessible to retail investors, potentially increasing their involvement in the corporate bond market and improving liquidity.

How crazy would it be if Buffett bought Boeing?

How Delhi's K-9 unit is defusing bomb threats

Income Tax: As ITR forms enabled to file returns, check here which form you would require

The income tax (I-T) department has released the excel utility of ITR-6 for AY 2024-25. Prior to this, the department enabled the excel utility of ITR-1, ITR-2 and ITR-4 for AY 2024-25.

Bajaj Finance sinks 8% amid rising NIM pressure

Investors shunned shares of Bajaj Finance on Friday, a day after the non-banking financial company (NBFC) reported a sharp contraction in its net interest margin (NIM) for the March quarter of the financial year 2023-24 (Q4FY24). The losses accounted for a fifth of the benchmark S and P BSE Sensex's 609-point loss. Most brokerages have tamed their earnings expectations for the next couple of quarters, after the management said it expected the pressure on NIMs to continue in the near term.

ED files case against Elvish Yadav, others

The Enforcement Directorate has filed a money laundering case against YouTuber Siddharth Yadav alias Elvish Yadav and some others under the charge of suspected use of snake venom as a recreational drug in parties he hosted, official sources said Saturday. The central agency has pressed charges under the Prevention of Money Laundering Act (PMLA) after taking cognisance of a FIR and charge sheet filed by the Gautam Buddh Nagar (Noida) district police in Uttar Pradesh last month against him and other linked to him. The alleged generation of proceeds of crime and use of illicit funds for organising rave or recreational parties is under the scanner of the ED. Yadav and some others linked to the case will be questioned as part of the investigation, the sources said. Yadav was arrested on March 17 by the Noida Police in connection with its probe into suspected use of snake venom as a recreational drug in parties that were allegedly hosted by him. The 26-year-old YouTuber, also the winner of reality show Bigg Boss OTT 2, was booked under various sections of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, Wildlife Protection Act, and the Indian Penal Code (IPC) by the Noida police. Yadav was among the six people named in an FIR lodged at Noida's Sector 49 Police Station on November 3 last year on a complaint from a representative of animal rights NGO People for Animals (PFA). The five other accused, all snake charmers, were arrested in November and were later let out on bail by a local court. The five snake charmers were arrested from a banquet hall in Noida on November 3 last year and nine snakes, including five cobras, were rescued from their possession, while 20 ml of suspected snake venom was also seized. According to police, Yadav was not present at the banquet hall then. In April, the Noida Police filed an over 1,200-page charge sheet in the case. The charges included are snake trafficking, use of psychotropic substances and organising rave parties, the police had said.

Onion exports: India lifts ban on sending onions out of the country

India has lifted the ban on onion exports after almost six months. The Directorate General of Foreign Trade set the Minimum Export Price at $550 per tonne. Onions have historically influenced India's political landscape during elections.

UN spokesperson declines to react to Bidens claim that Indias economy stalling due to xenophobia

United Nations : A UN spokesperson has declined to react to an assertion by US...

The Fall Guy: Valuable money lessons from Ryan Gosling's new film

The film The Fall Guy features non-stop action and witty repartee, paying homage to unsung heroes who perform stunts. It also highlights the importance of giving credit to those who support your financial journey.

ET Roundtable I EAM Jaishankar counters Biden's 'India Xenophobic' remarks

'India is proud of its Panchayati Raj system': Indian Ambassador Ruchira Kamboj

US colleges invite discussion to end campus protests

India new land of rising sun for auto exports

India's auto industry attracts global players like Honda and Suzuki for exports, with a focus on quality and cost efficiency. The country's emergence as a key manufacturing hub reflects its appeal to major auto manufacturers.