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IndiaTV Business: Google News Feed: Digest for January 24, 2024

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Analysts predict that stock markets in the upcoming holiday-shortened week will be influenced by quarterly earnings reports, global trends, and the trading activities of foreign investors.
India's exports of goods and services marginally rose by 0.4 per cent, reaching USD 765.6 billion, despite global economic uncertainties, as per data from the commerce ministry.
The Income Tax department has clarified that donations made for the repair, rebuild, or renovation of the Ram Mandir in Ayodhya, under the Shri Ram Janmabhoomi Teerth Kshetra Trust, are eligible for deduction under Section 80G (2) (b) of the Income-tax Act, 1961.
In the lead-up to the consecration of the Ram Temple in Ayodhya, several corporate entities are actively participating in the fervour surrounding the event. Companies are engaging in various initiatives, including contributing to the lighting at the temple complex, planning live screenings of the event in multiplexes, and organising on-ground marketing campaigns.
The government is expected to maintain its focus on increasing capital expenditure in the upcoming budget, particularly in the infrastructure sector, to stimulate economic growth amid subdued private investment. Since the post-COVID period, the budget has consistently emphasised capital expenditure, leading to over 7 per cent growth in the last three years, making India the fastest-growing large economy globally.
Foreign investors adopted a cautious stance in January, selling off Indian equities worth Rs 13,000 crore in the first three weeks due to high valuations and rising US bond yields. However, foreign investors have shown confidence in the debt market, injecting Rs 15,647 crore during the same period.
There is heightened anticipation that Ayodhya will witness a substantial increase in investment, driven by the expectation that the temple will attract pilgrims from around the world. Reports suggest that over 3 lakh devotees could visit Ayodhya daily over the next three to four years.
To incentivise the manufacturing sector and generate employment, the government may extend the scope of the Production-Linked Incentive (PLI) scheme in the upcoming budget. The interim budget for 2023–24 is scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1. The government is planning to include sectors like garments, jewellery and handicrafts in the forthcoming interim budget. Currently, the Production-Linked Incentive (PLI) scheme, which was announced in 2021 by the government, is available for 14 sectors.
Niva Bupa Health Insurance Company Limited (Formerly known as Max Bupa Health Insurance Company Limited) – one of India's leading standalone health insurers, has introduced its latest product, Aspire focusing on Gen Z and millennials. Addressing the unique needs and aspirations of the Gen Z and millennial segment, this product has forward-thinking approach to health insurance.
In a display of unity and reverence, leaders from India Inc., including billionaires and tech titans, congregated in Ayodhya to witness the grand inauguration of the Ram temple. The occasion marked not only a religious milestone but also drew attention to the business world's participation, with many companies granting leaves to employees for this significant day.
India's exports of goods and services marginally rose by 0.4 per cent, reaching USD 765.6 billion, despite global economic uncertainties, as per data from the commerce ministry.
The Income Tax department has clarified that donations made for the repair, rebuild, or renovation of the Ram Mandir in Ayodhya, under the Shri Ram Janmabhoomi Teerth Kshetra Trust, are eligible for deduction under Section 80G (2) (b) of the Income-tax Act, 1961.
In the lead-up to the consecration of the Ram Temple in Ayodhya, several corporate entities are actively participating in the fervour surrounding the event. Companies are engaging in various initiatives, including contributing to the lighting at the temple complex, planning live screenings of the event in multiplexes, and organising on-ground marketing campaigns.
The government is expected to maintain its focus on increasing capital expenditure in the upcoming budget, particularly in the infrastructure sector, to stimulate economic growth amid subdued private investment. Since the post-COVID period, the budget has consistently emphasised capital expenditure, leading to over 7 per cent growth in the last three years, making India the fastest-growing large economy globally.
Foreign investors adopted a cautious stance in January, selling off Indian equities worth Rs 13,000 crore in the first three weeks due to high valuations and rising US bond yields. However, foreign investors have shown confidence in the debt market, injecting Rs 15,647 crore during the same period.
There is heightened anticipation that Ayodhya will witness a substantial increase in investment, driven by the expectation that the temple will attract pilgrims from around the world. Reports suggest that over 3 lakh devotees could visit Ayodhya daily over the next three to four years.
To incentivise the manufacturing sector and generate employment, the government may extend the scope of the Production-Linked Incentive (PLI) scheme in the upcoming budget. The interim budget for 2023–24 is scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1. The government is planning to include sectors like garments, jewellery and handicrafts in the forthcoming interim budget. Currently, the Production-Linked Incentive (PLI) scheme, which was announced in 2021 by the government, is available for 14 sectors.
Niva Bupa Health Insurance Company Limited (Formerly known as Max Bupa Health Insurance Company Limited) – one of India's leading standalone health insurers, has introduced its latest product, Aspire focusing on Gen Z and millennials. Addressing the unique needs and aspirations of the Gen Z and millennial segment, this product has forward-thinking approach to health insurance.
In a display of unity and reverence, leaders from India Inc., including billionaires and tech titans, congregated in Ayodhya to witness the grand inauguration of the Ram temple. The occasion marked not only a religious milestone but also drew attention to the business world's participation, with many companies granting leaves to employees for this significant day.
Ram Temple:  The Ambani family, who was present at the Pran Pratishtha ceremony of Ram Lalla in Ayodhya, announced a donation of Rs 2.51 crore to the Ram Janmabhoomi Teerth Kshetra Trust. 
Foreign investors adopted a cautious stance in January, selling off Indian equities worth Rs 13,000 crore in the first three weeks due to high valuations and rising US bond yields. However, foreign investors have shown confidence in the debt market, injecting Rs 15,647 crore during the same period.
There is heightened anticipation that Ayodhya will witness a substantial increase in investment, driven by the expectation that the temple will attract pilgrims from around the world. Reports suggest that over 3 lakh devotees could visit Ayodhya daily over the next three to four years.
To incentivise the manufacturing sector and generate employment, the government may extend the scope of the Production-Linked Incentive (PLI) scheme in the upcoming budget. The interim budget for 2023–24 is scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1. The government is planning to include sectors like garments, jewellery and handicrafts in the forthcoming interim budget. Currently, the Production-Linked Incentive (PLI) scheme, which was announced in 2021 by the government, is available for 14 sectors.
Niva Bupa Health Insurance Company Limited (Formerly known as Max Bupa Health Insurance Company Limited) – one of India's leading standalone health insurers, has introduced its latest product, Aspire focusing on Gen Z and millennials. Addressing the unique needs and aspirations of the Gen Z and millennial segment, this product has forward-thinking approach to health insurance.
In a display of unity and reverence, leaders from India Inc., including billionaires and tech titans, congregated in Ayodhya to witness the grand inauguration of the Ram temple. The occasion marked not only a religious milestone but also drew attention to the business world's participation, with many companies granting leaves to employees for this significant day.
Ram Temple:  The Ambani family, who was present at the Pran Pratishtha ceremony of Ram Lalla in Ayodhya, announced a donation of Rs 2.51 crore to the Ram Janmabhoomi Teerth Kshetra Trust. 
Stock markets update: Equity benchmark indices opened higher in early trade on Tuesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 561.13 points to 71,984.78. Meanwhile, the Nifty was also up by 160.45 points to 21,732.25 points. 
The Indian stock market has surpassed Hong Kong to become the fourth-largest equity market globally.

Cyber attack cases in India rise 15 per cent in 2023: Report

Tuesday 23 January 2024 05:44 AM UTC+00
The number of cyber attack cases in India increased by 15 percent per week on average in 2023, according to cybersecurity firm Check Point. This places India as the second-most targeted nation in the Asia-Pacific region, trailing only behind Taiwan, which experienced 3,050 incidents per week.
The government has announced an increase in import duties on gold and silver findings, as well as precious metal coins, to a total of 15 per cent. This includes a Basic Customs Duty (BCD) of 10 per cent and an additional 5 per cent under the All Industry Duty Drawback (AIDC), with an exemption from the Social Welfare Surcharge (SWS).
To incentivise the manufacturing sector and generate employment, the government may extend the scope of the Production-Linked Incentive (PLI) scheme in the upcoming budget. The interim budget for 2023–24 is scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1. The government is planning to include sectors like garments, jewellery and handicrafts in the forthcoming interim budget. Currently, the Production-Linked Incentive (PLI) scheme, which was announced in 2021 by the government, is available for 14 sectors.
Niva Bupa Health Insurance Company Limited (Formerly known as Max Bupa Health Insurance Company Limited) – one of India's leading standalone health insurers, has introduced its latest product, Aspire focusing on Gen Z and millennials. Addressing the unique needs and aspirations of the Gen Z and millennial segment, this product has forward-thinking approach to health insurance.
In a display of unity and reverence, leaders from India Inc., including billionaires and tech titans, congregated in Ayodhya to witness the grand inauguration of the Ram temple. The occasion marked not only a religious milestone but also drew attention to the business world's participation, with many companies granting leaves to employees for this significant day.
Ram Temple:  The Ambani family, who was present at the Pran Pratishtha ceremony of Ram Lalla in Ayodhya, announced a donation of Rs 2.51 crore to the Ram Janmabhoomi Teerth Kshetra Trust. 
Stock markets update: Equity benchmark indices opened higher in early trade on Tuesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 561.13 points to 71,984.78. Meanwhile, the Nifty was also up by 160.45 points to 21,732.25 points. 
The Indian stock market has surpassed Hong Kong to become the fourth-largest equity market globally.

Cyber attack cases in India rise 15 per cent in 2023: Report

Tuesday 23 January 2024 05:44 AM UTC+00
The number of cyber attack cases in India increased by 15 percent per week on average in 2023, according to cybersecurity firm Check Point. This places India as the second-most targeted nation in the Asia-Pacific region, trailing only behind Taiwan, which experienced 3,050 incidents per week.
The government has announced an increase in import duties on gold and silver findings, as well as precious metal coins, to a total of 15 per cent. This includes a Basic Customs Duty (BCD) of 10 per cent and an additional 5 per cent under the All Industry Duty Drawback (AIDC), with an exemption from the Social Welfare Surcharge (SWS).
Budget 2024: Union Finance Minister Nirmala Sitharaman is set to deliver her budget speech on February 1. The tradition of presenting the budget at the end of February was shifted a few years ago by the NDA government from February 28 to February 1.

Sensex crashes over 1,000 points, Nifty plunges below 21,300

Tuesday 23 January 2024 10:13 AM UTC+00
The BSE Sensex fell by 1,053.10 points to settle at 70,370.55 on Tuesday's trading session, while the Nifty fell by 330.15 points to 21,241.65.
Stock markets update: Equity benchmark indices opened higher in early trade on Tuesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 561.13 points to 71,984.78. Meanwhile, the Nifty was also up by 160.45 points to 21,732.25 points. 
The Indian stock market has surpassed Hong Kong to become the fourth-largest equity market globally.

Cyber attack cases in India rise 15 per cent in 2023: Report

Tuesday 23 January 2024 05:44 AM UTC+00
The number of cyber attack cases in India increased by 15 percent per week on average in 2023, according to cybersecurity firm Check Point. This places India as the second-most targeted nation in the Asia-Pacific region, trailing only behind Taiwan, which experienced 3,050 incidents per week.
The government has announced an increase in import duties on gold and silver findings, as well as precious metal coins, to a total of 15 per cent. This includes a Basic Customs Duty (BCD) of 10 per cent and an additional 5 per cent under the All Industry Duty Drawback (AIDC), with an exemption from the Social Welfare Surcharge (SWS).
Budget 2024: Union Finance Minister Nirmala Sitharaman is set to deliver her budget speech on February 1. The tradition of presenting the budget at the end of February was shifted a few years ago by the NDA government from February 28 to February 1.

Sensex crashes over 1,000 points, Nifty plunges below 21,300

Tuesday 23 January 2024 10:13 AM UTC+00
The BSE Sensex fell by 1,053.10 points to settle at 70,370.55 on Tuesday's trading session, while the Nifty fell by 330.15 points to 21,241.65.
Budget 2024: The government is considering measures to make the National Pension System (NPS) more attractive, particularly for senior citizens over 75 years.
Private sector Axis Bank on Tuesday reported a 4 per cent rise in standalone net profit at Rs 6,071 crore in the third quarter ended December 2023. The bank reported a net profit of Rs 5,853 crore in the October-December quarter of 2022.
India Inc expresses confidence in achieving a USD 5 trillion economy with support from the central government in infrastructure investments, additional reforms, and enhanced technology adoption, according to a CXO survey by Deloitte Touche Tohmatsu India LLP.
The market reactions to the Union Budget in recent years have been diverse, with fluctuations in indices following the announcements.
The Indian stock market has surpassed Hong Kong to become the fourth-largest equity market globally.

Cyber attack cases in India rise 15 per cent in 2023: Report

Tuesday 23 January 2024 05:44 AM UTC+00
The number of cyber attack cases in India increased by 15 percent per week on average in 2023, according to cybersecurity firm Check Point. This places India as the second-most targeted nation in the Asia-Pacific region, trailing only behind Taiwan, which experienced 3,050 incidents per week.
The government has announced an increase in import duties on gold and silver findings, as well as precious metal coins, to a total of 15 per cent. This includes a Basic Customs Duty (BCD) of 10 per cent and an additional 5 per cent under the All Industry Duty Drawback (AIDC), with an exemption from the Social Welfare Surcharge (SWS).
Budget 2024: Union Finance Minister Nirmala Sitharaman is set to deliver her budget speech on February 1. The tradition of presenting the budget at the end of February was shifted a few years ago by the NDA government from February 28 to February 1.

Sensex crashes over 1,000 points, Nifty plunges below 21,300

Tuesday 23 January 2024 10:13 AM UTC+00
The BSE Sensex fell by 1,053.10 points to settle at 70,370.55 on Tuesday's trading session, while the Nifty fell by 330.15 points to 21,241.65.
Budget 2024: The government is considering measures to make the National Pension System (NPS) more attractive, particularly for senior citizens over 75 years.
Private sector Axis Bank on Tuesday reported a 4 per cent rise in standalone net profit at Rs 6,071 crore in the third quarter ended December 2023. The bank reported a net profit of Rs 5,853 crore in the October-December quarter of 2022.
India Inc expresses confidence in achieving a USD 5 trillion economy with support from the central government in infrastructure investments, additional reforms, and enhanced technology adoption, according to a CXO survey by Deloitte Touche Tohmatsu India LLP.
The market reactions to the Union Budget in recent years have been diverse, with fluctuations in indices following the announcements.
Net direct tax collections surged by 160.52% from Rs. 6,38,596 crore in F.Y. 2013–14 to Rs. 16,63,686 crore in F.Y. 2022–23, reflecting strong fiscal growth. Gross direct tax collections reach Rs. 19,72,248 crore in F.Y. 2022–23, marking a remarkable 173.31% increase compared to Rs. 7,21,604 crore in F.Y. 2013-14.
The Indian stock market has surpassed Hong Kong to become the fourth-largest equity market globally.

Cyber attack cases in India rise 15 per cent in 2023: Report

Tuesday 23 January 2024 05:44 AM UTC+00
The number of cyber attack cases in India increased by 15 percent per week on average in 2023, according to cybersecurity firm Check Point. This places India as the second-most targeted nation in the Asia-Pacific region, trailing only behind Taiwan, which experienced 3,050 incidents per week.
The government has announced an increase in import duties on gold and silver findings, as well as precious metal coins, to a total of 15 per cent. This includes a Basic Customs Duty (BCD) of 10 per cent and an additional 5 per cent under the All Industry Duty Drawback (AIDC), with an exemption from the Social Welfare Surcharge (SWS).
Budget 2024: Union Finance Minister Nirmala Sitharaman is set to deliver her budget speech on February 1. The tradition of presenting the budget at the end of February was shifted a few years ago by the NDA government from February 28 to February 1.

Sensex crashes over 1,000 points, Nifty plunges below 21,300

Tuesday 23 January 2024 10:13 AM UTC+00
The BSE Sensex fell by 1,053.10 points to settle at 70,370.55 on Tuesday's trading session, while the Nifty fell by 330.15 points to 21,241.65.
Budget 2024: The government is considering measures to make the National Pension System (NPS) more attractive, particularly for senior citizens over 75 years.
Private sector Axis Bank on Tuesday reported a 4 per cent rise in standalone net profit at Rs 6,071 crore in the third quarter ended December 2023. The bank reported a net profit of Rs 5,853 crore in the October-December quarter of 2022.
India Inc expresses confidence in achieving a USD 5 trillion economy with support from the central government in infrastructure investments, additional reforms, and enhanced technology adoption, according to a CXO survey by Deloitte Touche Tohmatsu India LLP.
The market reactions to the Union Budget in recent years have been diverse, with fluctuations in indices following the announcements.
Net direct tax collections surged by 160.52% from Rs. 6,38,596 crore in F.Y. 2013–14 to Rs. 16,63,686 crore in F.Y. 2022–23, reflecting strong fiscal growth. Gross direct tax collections reach Rs. 19,72,248 crore in F.Y. 2022–23, marking a remarkable 173.31% increase compared to Rs. 7,21,604 crore in F.Y. 2013-14.
The Indian stock market has surpassed Hong Kong to become the fourth-largest equity market globally.

Cyber attack cases in India rise 15 per cent in 2023: Report

Tuesday 23 January 2024 05:44 AM UTC+00
The number of cyber attack cases in India increased by 15 percent per week on average in 2023, according to cybersecurity firm Check Point. This places India as the second-most targeted nation in the Asia-Pacific region, trailing only behind Taiwan, which experienced 3,050 incidents per week.
The government has announced an increase in import duties on gold and silver findings, as well as precious metal coins, to a total of 15 per cent. This includes a Basic Customs Duty (BCD) of 10 per cent and an additional 5 per cent under the All Industry Duty Drawback (AIDC), with an exemption from the Social Welfare Surcharge (SWS).
Budget 2024: Union Finance Minister Nirmala Sitharaman is set to deliver her budget speech on February 1. The tradition of presenting the budget at the end of February was shifted a few years ago by the NDA government from February 28 to February 1.

Sensex crashes over 1,000 points, Nifty plunges below 21,300

Tuesday 23 January 2024 10:13 AM UTC+00
The BSE Sensex fell by 1,053.10 points to settle at 70,370.55 on Tuesday's trading session, while the Nifty fell by 330.15 points to 21,241.65.
Budget 2024: The government is considering measures to make the National Pension System (NPS) more attractive, particularly for senior citizens over 75 years.
Private sector Axis Bank on Tuesday reported a 4 per cent rise in standalone net profit at Rs 6,071 crore in the third quarter ended December 2023. The bank reported a net profit of Rs 5,853 crore in the October-December quarter of 2022.
India Inc expresses confidence in achieving a USD 5 trillion economy with support from the central government in infrastructure investments, additional reforms, and enhanced technology adoption, according to a CXO survey by Deloitte Touche Tohmatsu India LLP.
The market reactions to the Union Budget in recent years have been diverse, with fluctuations in indices following the announcements.
Net direct tax collections surged by 160.52% from Rs. 6,38,596 crore in F.Y. 2013–14 to Rs. 16,63,686 crore in F.Y. 2022–23, reflecting strong fiscal growth. Gross direct tax collections reach Rs. 19,72,248 crore in F.Y. 2022–23, marking a remarkable 173.31% increase compared to Rs. 7,21,604 crore in F.Y. 2013-14.
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