Finance Minister Nirmala Sitharaman on Tuesday announced the doubling of the upper limit of Mudra loans to Rs 20 lakh to promote entrepreneurship in the country. "The limit of Mudra loans will be enhanced to Rs 20 lakh from the current Rs 10 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the 'Tarun category', she said while presenting the Budget in the Lok Sabha.
'To access our satellite, you don't need any IQ test, you don't need to write an examination.' 'You can be a Class 1 student, an engineering student, a 60-year-old person, anybody can access our satellite.'
'The dakiyas will be our partners, receiving credit proposals from micro-enterprises at the grassroots level.'
Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
Bain Capital-backed Tyger Capital is planning to list its shares on the Indian stock exchanges by the next financial year and is targeting to grow its assets under management by four times to Rs 20,000 crore in five years from Rs 5,000 crore now, Gaurav Gupta, MD and CEO of the firm said. In an exclusive interview, Gupta said that keeping with the growing business, the finance company expects to on-board 600 people in the current financial year as it is opening 60-65 new branches for broad-basing its network in the country.
'As the city grows, so do its fire incidents.'
The Reserve Bank of India (RBI) will launch the Unified Lending Interface (ULI) nationwide in due course, aiming to transform India's lending sector, similar to how the Unified Payments Interface (UPI) revolutionised the payments ecosystem, Governor Shaktikanta Das said on Monday.
Uddhav said Modi lacks the self-confidence of 2014 and 2019.
Finance Minister Nirmala Sitharaman's Budget proposals lay out a comprehensive road map for transforming India into a developed nation, focusing on key priorities that aim to generate ample opportunities for all citizens in "Viksit Bharat". It sets the stage for sustained economic growth, social development, and technological advancement.
'It's a debatable topic, and we will submit our comments to the RBI by June 15.'
Prime Minister Narendra Modi would have got a tough fight in Varanasi had Congress general secretary Priyanka Gandhi Vadra contested against him as Indian National Developmental Inclusive Alliance (INDIA) candidate, feel party workers from the temple town.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Yet another first week of December brought familiar scenes of rain, storm, flooding, power outages, and fallen trees. When Cyclone Michaung wreaked havoc, leading to the heaviest rainfall in 47 years in the city, residents of Chennai drew parallels to the devastating floods of 2015. However, initial data on insurance claims suggests that the impact this time may portray a more optimistic scenario.
'There is no immediate threat to the government, and they would prefer the growth agenda.'
Bharatiya Janata Party candidate Mukesh Dalal was on Monday elected unopposed from Surat Lok Sabha constituency in Gujarat after all other nominees withdrew from the fray, a poll official said.
BJP workers depend on Annamalai's popularity to emerge victorious. He has has made 100 promises to be fulfilled in 500 days and assurances include cleaning up rivers, an international airport and food vans named after former Chief Minister K Kamaraj.
'We want to play the value game for our consumers, which is health and retail will grow faster for us than the group.'
As many as 37 ministers have been dropped from the government in Prime Minister Narendra Modi's third term and these include seven with cabinet rank -- prominent among them being Smriti Irani, Anurag Thakur and Narayan Rane.
Prime Minister Narendra Modi, Union home minister Amit Shah, Congress president Mallikarjun Kharge, and Nationalist Congress Party-Sharadchandra Pawar supremo Sharad Pawar were among the famous faces who queued up at the polling booths on Tuesday to caste their votes in the third phase of the Lok Sabha elections.
The Uttar Pradesh government will tap the Indian embassies in the US and European countries in its bid to double merchandise shipments to Rs 3 trillion in the next 4-5 years. The Indian embassies in the US, UK, Germany, Australia, Israel, Singapore, etc. will promote the micro, small and medium enterprises (MSME) products, apart from traditional handicrafts and indigenous products, under the state's flagship One District One Product (ODOP) scheme. "Indian embassies will provide the much-needed traction and visibility to our traditional products in key export destinations across the globe," UP additional chief secretary (MSME and export promotion) Navneet Sehgal told Business Standard.
'There was a strong undercurrent of deprivation, and also frustration against misuse of power and authority.' 'This election was an opportunity for the manifestation of this discontentment.'
'The finance minister said, the MSME is the backbone of the economy. My question is, what have you done for the sector?'
With an eye on improving quality assurance in the wake of increased global scrutiny on Indian pharma products, the Centre on Tuesday said that Schedule M of the Drugs and Cosmetics Act, 1940 will be made compulsory for small and medium scale manufacturers in a phased manner. Union Health Minister Mansukh Mandaviya has asked micro-small and medium enterprises in pharma manufacturing to move towards good manufacturing practices (GMP) through self regulation. "This will help in quality assurance and also reduce compliance burden," Mandaviya.
Few in Varanasi expect the result to be different from 2014 and 2019. The only point of interest is whether Narendra Modi will increase his winning margin against his rivals.
Prime Minister Narendra Modi reached out to the attendees of the Kashi Tamil Sangamam in Varanasi with his speech being translated for the audience in real-time using artificial intelligence.
As the triangular political contest in Telangana intensifies, many believe that for the regional major BRS, it is a battle for survival after being routed in the assembly polls held late last year. What is haunting the party this time is the scams, the 10-year anti-incumbency factor, and family dominance in the party.
Driven by mega investment proposals from Tata Power, Adani group, Singapore's Sembcorp Industries and Leap Green Energy, among others, the two-day Global Investors Meet 2024 in Tamil Nadu is expecting an infusion of around Rs 6.64 trillion. This is likely to create around 2.69 million direct and indirect jobs in the state. "Due to our tireless efforts and your participation during this Global Investors' Meet, we have attracted an unprecedented Rs 6.64 trillion of investments.
For renomination to the Rajya Sabha, Nadda will have to look for a seat outside his home state of Himachal Pradesh as the Congress is in power there.
While weather forecasters remain divided on how the monsoons will play out in India over the next few months, analysts believe the news at the current juncture - at best - can trigger a knee-jerk reaction in the markets. They believe it is too early to say whether the sub-par monsoon on account of El Nino can seriously dent the market sentiment in the short-to-medium term. "These are just initial forecasts and we will have another round / status update from the weather forecasters a month down the line.
'The approach today is, instead of giving loans to 100 MSMEs, let us give one loan to a big-ticket corporate.' 'And so many of these big fish deceived the banks and the banks are in the doldrums now with high NPAs.'
India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period, as per the National Statistical Office (NSO) data released on Thursday. India remains the fastest-growing major economy as China's GDP growth in the April-June quarter was 6.3 per cent.
'The stabilisation of interest rates followed by reduction is going to happen over the next year.'
Prices may go up because of higher energy costs, caused by the rise in shipping charges, with commercial vessels taking a longer route to avoid the troubled Red Sea region, the finance ministry said on Monday. Iran-backed Houthi rebels of Yemen are repeatedly attacking ships in the Red Sea. While the global economy is grappling with challenges such as sticky inflation, sluggish growth, and mounting fiscal pressure, India's external sector could face "potential risks" due to the ongoing geopolitical tensions, according to the finance ministry's report on the review of the Indian economy.
Over 60 per cent voter turnout was recorded on Monday in 49 constituencies in six states and two Union territories in the fifth phase of Lok Sabha elections, with Baramulla in Jammu and Kashmir recording its highest-ever voting percentage.
From toys, footwear and furniture to insulated flasks, smart meters, and air coolers - the Central government over the last decade has mandated higher standards for production and imports of such items. Sample this: Till 2014, there were 14 Quality Control Orders (QCOs) covering 106 products. By the latest count, there are 156 QCOs on 672 products.
Sixty-eight Rajya Sabha members, including nine Union ministers, are completing their tenure this year, triggering a race of sorts among leaders across political parties to eye a six-year term in the Upper House of Parliament.
Reserve Bank Governor Shaktikanta Das will hold a meeting with CEOs of public sector banks on Wednesday to discuss issues concerning slow deposit growth and sustainability of high credit demand. As per the Reserve Bank of India (RBI) data, deposits rose by 9.6 per cent as compared to 10.2 per cent on a year-on-year basis, while credit offtake witnessed a jump of 17.9 per cent as against 6.5 per cent a year ago. According to an agenda circulated for the meeting, sources said, sustainability, including pricing and slow growth of deposits, would be discussed.
The 'Mann Ki Baat' programme is set to complete its 100th edition next Sunday, with the prime minister saying it was public support that led to the success of his monthly radio address.
The scheme aims to enhance the capabilities and competitiveness of MSMEs, besides promoting the use consultancy services by entrepreneurs.
West Bengal Chief Minister Mamata Banerjee has asked state ministers to begin a sit-in outside Nobel laureate Amartya Sen's residence in Santiniketan in Birbhum district to protest against the Visva-Bharati's eviction notice, an official said.
