Business Standard - December 26, 2024

In this issue

December 26, 2024

Micro insurance premium in life segment tops ₹10K cr for first time

In 2023-24, new business premium (NBP) in life insurance's micro-insurance segment, which targets low-income groups, surpassed ₹10,000 crore for the first time, according to the financial year's Annual Report by the Insurance Regulatory and Development Authority of India (Irdai).

1 min

Customers may gain as high-end hotels get GST options on dining

In a major change for the hospitality industry and in what could be a good news for diners, the Goods and Services Tax (GST) Council has decided to allow high-end hotels to choose between two indirect tax rates for restaurant services provided on their premises.

2 mins

India's manufacturing reality: An incomplete story

To boost domestic factory production and capitalize on the global \"China Plus One\" strategy, which encourages multinational companies to reduce reliance on China, India needs a conducive ecosystem for manufacturing.

4 mins

Just 15% Applicants Meet DVA Target for PLI-Auto

Only 12 of 82 approved applicants, or nearly 15 per cent, under the production-linked incentive scheme for the automobile and auto component industry (PLI-Auto) have achieved the mandated 50 per cent domestic value addition (DVA) target, according to data from the Ministry of Heavy Industries (MHI) as of December 20, 2024.

1 min

SteelMin wants Customs duty to double to 15%

AMID RISE IN CHEAPER IMPORTS FROM CHINA

1 min

Ajinkya Rahane invests in Proxgy's Series A funding

Proxgy, an Internet of Things (IoT) technology firm in areas such as safety, connectivity, and productivity solutions, said that cricketer Ajinkya Rahane has invested in its ongoing $3 million Series A funding round.

1 min

Hospital chains make gains on improved efficiency, demand

India's private hospital sector in 2024 clocked single-digit growth in average revenue per occupied bed (ARPOB), helped by improved operations and advanced medical treatment.

1 min

Health care sector seeks viable rates for govt schemes, hike in allocation

The health care sector has rolled out a robust wish-list for the upcoming Budget.

1 min

Electronics Fastest-Growing Among Top 10 Export Items

With 28% growth in Apr-Nov of FY25, electronics exports now occupy third rank

2 mins

Residential and commercial sectors to stand as pillars of resilience

The residential segment will remain largely steady, and the commercial segment will exhibit strong growth.

2 mins

IndiGo Eyes Early Induction of Wide-Body Planes in Fleet

Airline reportedly in talks with Norse Atlantic Airways to wet-lease six B787

2 mins

Ola Electric Clocks 4,000-Store Milestone

Ola Electric on Wednesday said it now has 4,000 stores across the country, marking a fourfold jump from the earlier reported figure of 800 on December 2 of this month.

1 min

PPI wallets decline 20%, cards record 27% growth this year

Paytm Payments Bank, Airtel Payments Bank drive drop in wallets in Jan-Nov

1 min

Rupee's real effective exchange rate up at 108.14 in Nov

Nominal rise strong enough to outweigh impact of unfavorable price differences

1 min

GDP Likely to Grow at 6.5% in FY25, FY26: EY

India's economy is likely to grow by 6.5 per cent in the current (FY25) and the next financial year (FY26), an EY report said, attributing lower than anticipated expansion in the September quarter to fall in private consumption expenditure and gross fixed capital formation.

1 min

Share of own account enterprises on the rise

Highest in 'manufacturing', followed by 'other services'

2 mins

FinMin rejects plan to establish body for procuring green steel

Says most steel for projects is purchased indirectly through contractors rather than the govt

3 mins

Arunish Chawla named revenue secretary

1992-batch IAS officer replaces Economic Affairs Secretary Ajay Seth

1 min

Cotton association seeks ₹500 crore for drip irrigation units

The Cotton Association of India (CAI), the premier trade body for the sector, has asked the government to provide budgetary support of ₹500 crore to help farmers set up drip irrigation facilities in their fields to boost yield.

1 min

Centre Planning to Shift Mgmt of ERF to CPCB from Jan 1

The Centre is planning to transfer the administration of the Environment Relief Fund (ERF) Scheme from United India Insurance Company Limited (UIICL) to the Central Pollution Control Board (CPCB) starting January 1.

2 mins

Fresh formal hirings fall to 7-month low in October

The monthly fresh formal hiring saw a sharp decline in October, signalling a downturn in the formal labour market during the month.

1 min

China Approves VAT Law, to Take Effect in 2026

China approved a value-added tax (VAT) law on Wednesday to take effect on January 1, 2026, the official Xinhua said, bringing into one document previous regulations that have included exempting items from the tax.

1 min

Russia Attacks Ukraine on Xmas Day

Russia launched a massive missile and drone barrage targeting Ukraine's energy infrastructure on Wednesday, striking a thermal power plant and prompting Ukrainians to take shelter in metro stations on Christmas morning.

1 min

Pakistani airstrikes killed 46 in Afghanistan, says Taliban

Afghan foreign ministry promises retaliation for 'irresponsible actions'

2 mins

Spending fight shows limits of Trump power to change fiscal path

When Elon Musk and Vivek Ramaswamy, the businessmen that President-elect Donald J. Trump tapped to lead his new Department of Government Efficiency, met with lawmakers in early December, they laid out their plans for cutting federal spending and eliminating waste.

3 mins

38 Dead as Russia-Bound Plane Crashes in Kazakhstan

29 passengers survive the accident involving Azerbaijan Airlines flight

1 min

Let's not miss the CPTPP bus

In Trump 2.0's uncertain trade landscape, India must act now to secure its place in the open, rules-based, and potentially largest trade bloc in the world

4 mins

A return to trend growth

After a blistering 8.2 per cent growth in gross domestic product (GDP) last financial year, India is now returning to its trend growth rate of 6.5-7 per cent.

4 mins

Senior Security

India needs an affordable elder care ecosystem

2 mins

Trade thrust

Export promotion requires consistent and open trade policy

2 mins

Active largecap funds: A repeat victory in the making

More number of funds likely to beat the benchmark this year compared to 2023

2 mins

Stock Market Investor Count Nears 110 Mn

40% of them under 30 years, women 24%

1 min

MSE set to raise ₹120 crore in fresh revival bid

Parent firm of Groww, investment arm of Zerodha among investors

2 mins

Cheap Chinese imports cloud steel outlook

The domestic steel industry could face several stresses in the near-to-medium term.

3 mins

Lock in long-term returns with non-par plans

With markets doing well for four years, many investors turned to unit-linked insurance plans (Ulips). However, with volatility increasing, traditional non-participating (non-par) insurance plans are gaining popularity for their guaranteed, tax-free returns.

2 mins

Shah, Naidu, other NDA leaders meet at Nadda's residence

Leaders of the National Democratic Alliance (NDA) met at BJP president J P Nadda's Delhi residence on Wednesday on the birth centenary of former prime minister Atal Bihari Vajpayee.

1 min

PM Recalls Ambedkar's Vision, Slams Congress

Prime Minister Narendra Modi on Wednesday accused Congress of ignoring Dr B.R. Ambedkar's contribution to the development of water resources in the country as he laid the foundation stone of the Ken-Betwa river linking project in Madhya Pradesh.

1 min

AAP Schemes Disowned by Delhi Govt's Own Depts

After the Bharatiya Janata Party (BJP) and the Congress termed two of the Aam Aadmi Party (AAP)'s recently announced welfare schemes a hoax, two senior Delhi government officers issued public notices on Wednesday disowning these schemes.

2 mins

10 Picks Tailored for 2025 Market Terrain

These stocks, handpicked by top brokerages, offer a blend of value and growth. After declining 13-37% from their 52-week highs, these scrips boast reasonable valuations and high return on equity, signalling strong upside potential. KRISHNA KANT outlines the blueprint for gains

1 min

SURETY VS GUARANTEE

Surety bonds have begun to outshine bank guarantees. But did they come in too late?

4 mins

AI to D2M—DPG 2.0 needs deep-tech action now

From artificial intelligence to direct-to-mobile broadcasting, India faces a technology strategy dilemma on whether to develop indigenous deep-tech ecosystems or to follow the lead on technologies developed outside India.

3 mins

Regular staffers in CPSEs decline 3.14% in FY24

Share of contract workers rises 8.8% to 704,565 in the same period

2 mins

Pope urges 'all people of all nations' to silence arms

Pope Francis in his traditional Christmas message Wednesday urged \"all people of all nations\" to find courage during this Holy Year \"to silence the sounds of arms and overcome divisions\" plaguing the world, from the Middle East to Ukraine, Africa to Asia.

1 min

Women in auto sector grapple with low wages, surging finger injuries

The severity of injuries among women in India's auto sector has been rising steadily from 2019 to 2024, according to the latest report by the Safe in India Foundation (SIIF), released last Friday.

1 min

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