Business Standard - August 01, 2024![Legg til i Mine favoritter Add to Favorites](/static/icons/filled.svg)
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August 01, 2024
Toyota, Maha set wheels in motion for ₹20K cr plant
Plan to roll out 400,000 electric, hybrid cars a year
![Toyota, Maha set wheels in motion for ₹20K cr plant](https://reseuro.magzter.com/100x125/articles/18959/1784088/6pgZUU41BbNYsAVVwybsys/TOYOTA-MAHA-SET-WHEELS-IN-MOTION-FOR-20K-CR-PLANT.jpg)
2 mins
After FY26, fiscal deficit target will be a range: Somanathan
Path towards a reduction in the debt-GDP ratio will be announced later
1 min
Maruti sees 48% profit surge, unveils plans for 6 EVs by '31
Beating Street estimates, Maruti Suzuki India Limited (MSIL), India's largest car manufacturer, reported a 48 per cent year-on-year (Y-o-Y) increase in its consolidated net profit for the first quarter of 2024-25-primarily on the back of strategic cost reductions, favourable commodity prices, and advantageous foreign exchange conditions.
1 min
Hiring of freshers by IT companies likely to go off-campus in FY25
On the campuses of India's engineering colleges, the usual buzz of anticipation is noticeably tempered this year.
![Hiring of freshers by IT companies likely to go off-campus in FY25](https://reseuro.magzter.com/100x125/articles/18959/1784088/r0TXHVqAYqdi7rbVUTysys/HIRING-OF-FRESHERS-BY-IT-COMPANIES-LIKELY-TO-GO-OFFCAMPUS-IN-FY25.jpg)
3 mins
M&M net slips 6%; CEO says firm will deliver scale in FY25
PAT excluding last yr's one-off gains rises 20%
1 min
Tata Steel profit rises 51% on lower costs
Weak demand weighed on steel prices, says firm's CEO & MD
![Tata Steel profit rises 51% on lower costs](https://reseuro.magzter.com/100x125/articles/18959/1784088/nEhrva8kMBYxtskaCS3sys/TATA-STEEL-PROFIT-RISES-51-ON-LOWER-COSTS.jpg)
2 mins
'India Inc must utilise govt schemes for job creation'
The country's private sector must utilise government's recently announced schemes, such as support to employers in creating roles for first-time employment and increasing new hires, to propel India's economy over the next decade, Mahindra Group Chairman Anand Mahindra (pictured) said on Wednesday.
!['India Inc must utilise govt schemes for job creation'](https://reseuro.magzter.com/100x125/articles/18959/1784088/oqiKAM2ydw0QyPVHVqzsys/INDIA-INC-MUST-UTILISE-GOVT-SCHEMES-FOR-JOB-CREATION.jpg)
1 min
Bajaj, TVS lead charge in e2W sales surge
Incumbent two-wheeler players Bajaj Auto and TVS Motor Company have upped the ante in their battle for the electric two-wheeler (e2W) sweepstakes on the back of expanding distribution and their entry into the sub-₹1 lakh segment for the first time.
![Bajaj, TVS lead charge in e2W sales surge](https://reseuro.magzter.com/100x125/articles/18959/1784088/qp1rVzqCISi3o1nFk7Xsys/BAJAJ-TVS-LEAD-CHARGE-IN-E2W-SALES-SURGE.jpg)
2 mins
Propose Samir to board: Delhi court to Bina Modi
Nomination and remuneration committee to take call on appointment, says court
1 min
NCLAT defers Byju's, BCCI settlement after lender alert
Raveendran's brother had made part-payment on Tuesday
1 min
FM stresses commitment to cooperative federalism
Sitharaman says govt on track to achieve fiscal deficit target of 4.5% by FY26
![FM stresses commitment to cooperative federalism](https://reseuro.magzter.com/100x125/articles/18959/1784088/77ijlsGqUWvoCBMaxwosys/FM-STRESSES-COMMITMENT-TO-COOPERATIVE-FEDERALISM.jpg)
2 mins
Retail credit growth fell to 16.6% in June
The retail loan growth declined to 16.6 per cent year-on-year (Y-o-Y) in June from 21.3 per cent a year ago, largely due to sharp moderation in credit in the personal loan segment.
1 min
RBI for more options to authenticate digital payments
The Reserve Bank of India (RBI) on Wednesday issued a draft framework for alternative authentication mechanism for digital payments, wherein it has mandated that all digital payment transactions would have to be authenticated with an additional factor of authentication (AFA), except small value contactless card payments for up to ₹5,000 at point of sale terminals, e-mandates for recurring transactions, and small value digital payments through offline mode, among others.
![RBI for more options to authenticate digital payments](https://reseuro.magzter.com/100x125/articles/18959/1784088/LfjcVTdZ0r0RxOiGjehsys/RBI-FOR-MORE-OPTIONS-TO-AUTHENTICATE-DIGITAL-PAYMENTS.jpg)
1 min
3 horses infected with Glanders disease in Delhi
The Delhi government has declared 5 kilometres around Azadpur Mandi area as a controlled zone after three horses were found infected with the dreaded Glanders disease.
1 min
385 mines auctioned since 2015, only 50 operational
Of the 385 mines auctioned since 2015, only 50 have begun operations, highlighting the challenges in India's mining sector.
1 min
LTCG hike divides market mavens
Call for fair treatment of domestic and foreign investors; review retrospective tax implications
![LTCG hike divides market mavens](https://reseuro.magzter.com/100x125/articles/18959/1784088/G66tQZCpD51Ys3RbU2nsys/LTCG-HIKE-DIVIDES-MARKET-MAVENS.jpg)
3 mins
Mid-tech FDI for job creation need of the hour
Panel stresses the need to keep import tariffs low and stable; says private sector required to create jobs as mentioned in Budget
![Mid-tech FDI for job creation need of the hour](https://reseuro.magzter.com/100x125/articles/18959/1784088/gJgVlzCkWDxB805CLNUsys/MIDTECH-FDI-FOR-JOB-CREATION-NEED-OF-THE-HOUR.jpg)
4 mins
'Nothing has structurally changed on either food or fertiliser subsidy'
Finance Secretary T V SOMANATHAN had a wide-ranging discussion with AK Bhattacharya, editorial director, Business Standard, at the Budget with BS: The Fine Print event in Mumbai on Wednesday. Edited excerpts from the interaction:
6 mins
Centre's fiscal deficit in Q1 at 8.4% of FY25 target
Total non-tax revenue for first three months of FY25 stands at ₹2.8 trn
1 min
At 4%, core sector growth slowest in 20 mths
Slowdown in June reflects high base and reduced electricity demand, down from 6.4% in May and 8.4% last year
![At 4%, core sector growth slowest in 20 mths](https://reseuro.magzter.com/100x125/articles/18959/1784088/xHe2TZoyYH8SslioL54sys/AT-4-CORE-SECTOR-GROWTH-SLOWEST-IN-20-MTHS.jpg)
2 mins
Death toll in Wayanad landslides rises to 167
Shah says advance warnings issued a week ahead; Kerala CM denies claim
![Death toll in Wayanad landslides rises to 167](https://reseuro.magzter.com/100x125/articles/18959/1784088/qEDrLZWWHSirLddHHeLsys/DEATH-TOLL-IN-WAYANAD-LANDSLIDES-RISES-TO-167.jpg)
1 min
Samsung posts 15-fold jump in profit
Samsung Electronics forecasted strong artificial intelligencedriven demand for chips in the second half of this year, as it reported a more than 15-fold rise in its second-quarter operating profit.
1 min
Microsoft revenue rises 15% in June quarter; Azure Cloud growth slows
Microsoft's Azure cloud service posted a slowdown in quarterly growth, disappointing investors anxious to see a payoff from huge investments in artificial intelligence products.
![Microsoft revenue rises 15% in June quarter; Azure Cloud growth slows](https://reseuro.magzter.com/100x125/articles/18959/1784088/A2xWapvO3bHLIddJHfBsys/MICROSOFT-REVENUE-RISES-15-IN-JUNE-QUARTER-AZURE-CLOUD-GROWTH-SLOWS.jpg)
1 min
Top Hamas leader assassinated in Iran
OUTFIT BLAMES ISRAEL FOR THE DEATH | HANIYEH'S KILLING FUELS FEARS OF WIDER WAR
![Top Hamas leader assassinated in Iran](https://reseuro.magzter.com/100x125/articles/18959/1784088/C0eIqUTJJnLo65RUHAUsys/TOP-HAMAS-LEADER-ASSASSINATED-IN-IRAN.jpg)
1 min
Boeing appoints industry veteran Kelly Ortberg CEO
Boeing on Wednesday named aerospace industry veteran Kelly Ortberg as its new President and CEO after a months-long search, tasking the former Rockwell Collins executive with the monumental job of turning around the struggling planemaker.
![Boeing appoints industry veteran Kelly Ortberg CEO](https://reseuro.magzter.com/100x125/articles/18959/1784088/KK1lNVeJLOhf4X0Q9MLsys/BOEING-APPOINTS-INDUSTRY-VETERAN-KELLY-ORTBERG-CEO.jpg)
1 min
Citi breached' rule meant to keep banks safe, made liquidity reporting errors
Citigroup repeatedly breached a US Federal Reserve rule that limits intercompany transactions, leading to errors in its internal liquidity reporting, according to a Citi document from December seen by Reuters.
![Citi breached' rule meant to keep banks safe, made liquidity reporting errors](https://reseuro.magzter.com/100x125/articles/18959/1784088/vvUXwv2mw9Il2Dq8cigsys/CITI-BREACHED-RULE-MEANT-TO-KEEP-BANKS-SAFE-MADE-LIQUIDITY-REPORTING-ERRORS.jpg)
2 mins
ITIS: Back to the centre stage
Industrial Training Institutes (ITIS) have rarely made it to the Union Budget speech, but this time things were different.
3 mins
Excessive speculation
Proposed measures will reduce retail participation in F&O
2 mins
Budget 'nudges' in the right directions
But much bolder and comprehensive reforms are needed
![Budget 'nudges' in the right directions](https://reseuro.magzter.com/100x125/articles/18959/1784088/i8aAex2dITYQi5JWxgKsys/BUDGET-NUDGES-IN-THE-RIGHT-DIRECTIONS.jpg)
4 mins
Evolving digital revolution
Policy and regulation will need consistent adaptation
2 mins
Rau's IAS, the study centre as it once was
How an elite institute that gave India many of its bureaucrats lost the plot
![Rau's IAS, the study centre as it once was](https://reseuro.magzter.com/100x125/articles/18959/1784088/Iqb5fAvKDuxx8sTdmwpsys/RAUS-IAS-THE-STUDY-CENTRE-AS-IT-ONCE-WAS.jpg)
3 mins
Tata Motors drives into elite club
Tata Motors has entered the club of the top 10 most valuable automobile firms globally, becoming the first domestic carmaker to achieve this feat.
1 min
Options trading set for further boost with Sebi's F&O overhaul
Share of index options up from 5% to 29% over past 4 years
![Options trading set for further boost with Sebi's F&O overhaul](https://reseuro.magzter.com/100x125/articles/18959/1784088/mbCihM4fakVq4sc5mutsys/OPTIONS-TRADING-SET-FOR-FURTHER-BOOST-WITH-SEBIS-FO-OVERHAUL.jpg)
2 mins
'Businesses are less willing to take risks'
Foreign investors and India Inc often express concerns about regulatory consistency, infrastructure quality, and ease of doing business in India, says RASHESH SHAH, chairman of Edelweiss Group, in an email interview with Puneet Wadhwa. Budget 2024 maintained a balance between populism and pragmatic economic planning, he observes. Edited excerpts:
!['Businesses are less willing to take risks'](https://reseuro.magzter.com/100x125/articles/18959/1784088/qqpsQag1YcEi07gD5oesys/BUSINESSES-ARE-LESS-WILLING-TO-TAKE-RISKS.jpg)
2 mins
Strong growth, rich valuations for Varun Beverages
Varun Beverages (VBL) reported reasonable results and saw the stock sold down sharply followed by a sharp recovery.
2 mins
'Abolish tax on life, health insurance premiums'
Union Minister of Road Transport and Highways Nitin Gadkari has Finance Minister Nirmala Sitharaman to withdraw the 18 per cent goods and services tax (GST) on life and medical insurance premiums.
!['Abolish tax on life, health insurance premiums'](https://reseuro.magzter.com/100x125/articles/18959/1784088/81igBbpjqnPKeqc9gtisys/ABOLISH-TAX-ON-LIFE-HEALTH-INSURANCE-PREMIUMS.jpg)
1 min
Try pay-as-you-drive cover if driving under 10K km annually
Customers in India are gradually warming up to pay-asyou-drive (PAYD) motor insurance plans.
2 mins
Sebi clarifies on reports mandating T+O system for all
Capital markets regulator Sebi on | Madhabi Puri Buch was discussing Wednesday clarified on media the Application Supported by reports pertaining to making the Blocked Amount (ASBA) facility, T+O system mandatory for all.
1 min
Business Standard Newspaper Description:
Utgiver: Business Standard Private Ltd
Kategori: Newspaper
Språk: English
Frekvens: Daily
Business Standard is India's leading business daily.
A preferred choice of serious business readers, Business Standard is acknowledged as a quality leader.
Business Standard stands for reporting that stresses accuracy and credibility, commentary that is informed, independent and fair, and journalism that is rooted in ethical conduct and defined by a sacrosanct bond with the reader. All Business Standard journalists sign on to a code of conduct that is available on the website.
Business Standard's editorial team is led by Shyamal Majumdar.
The English newspaper is published from 12 centers - New Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Ahmedabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. It is also printed from Bhopal.
The Hindi Business Standard is published from eight centres - New Delhi, Mumbai, Kolkata, Patna, Lucknow, Bhopal, Chandigarh and Raipur.
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