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IndiaTV Business: Google News Feed: Digest for February 02, 2024

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President Droupadi Murmu addressed a joint sitting of Parliament, highlighting that 2023 was a historic year for India as it maintained its status as the fastest-growing major economy despite the global crisis. The Indian economy registered growth rates of 7.80 per cent and 7.60 per cent during the April-June and July-September quarters of the financial year 2023-24, respectively.
The government has cut the import duty on essential components used in mobile phone production as part of a strategic move to boost export activities. The finance ministry announced the reduction in import duty rates from 15 per cent to 10 per cent through a notification on Tuesday.
India is set to deviate from its usual practice of presenting the Economic Survey on January 31, with Finance Minister Nirmala Sitharaman opting to deliver an interim budget, or a vote-on-account, on February 1, 2024.
Benchmark equity indices climbed nearly 1 per cent on Wednesday on buying in HDFC Bank and Reliance Industries. Investors are eyeing the two important events lined up ahead, the interim budget and the US Fed interest rate decision—to derive further cues.
As the Modi government prepares to unveil the interim budget for 2024 on February 1, this will mark Finance Minister Nirmala Sitharaman's sixth budget. Given that this is an election year, the budget to be presented is set to be a vote-on-account, with a full-fledged budget slated for post-Lok Sabha elections in 2024.
The Reserve Bank of India (RBI) has taken the decision to prohibit Paytm Payments Bank Ltd (PPBL) from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, FASTags, and more after February 29, 2024. The action by the RBI is a result of a comprehensive system audit report and subsequent compliance validation report by external auditors, which identified persistent non-compliances and ongoing material supervisory concerns at the bank.
India's eight core sectors recorded a growth of 3.8 per cent in December, as per data released by the Ministry of Commerce and Industry on January 31. This growth rate, observed in key infrastructure industries including coal, crude oil, steel, cement, electricity, fertilisers, refinery products, and natural gas, marks the lowest in 14 months.

FASTag KYC compliance deadline extended by one month

Wednesday 31 January 2024 04:53 PM UTC+00
FASTags update: Indian Highways Management Company, an arm of state-owned NHAI, will extend the KYC compliance deadline for FASTags by one month, a senior government official said today (January 31). Earlier on January 15, the National Highways Authority of India (NHAI) said FASTags with valid balances but incomplete KYC will get deactivated by banks post-January 31, 2024.
India Budget 2024 Live: Union Finance Minister Nirmala Sitharaman will present the interim Union Budget 2024 today. This year's budget holds significant importance because of the Lok Sabha elections 2024, due in April-May. Will it be a more business or employment-centric budget, will the common man get any relief in terms of income tax, will the government announce measures to curtail inflation, stay tuned for all the latest updates.
Goods and Services Tax (GST) collections in January surged by 10.40 per cent to exceed Rs 1.72 lakh crore, reflecting buoyant economic activity and setting the stage for the next phase of GST reforms.
India's eight core sectors recorded a growth of 3.8 per cent in December, as per data released by the Ministry of Commerce and Industry on January 31. This growth rate, observed in key infrastructure industries including coal, crude oil, steel, cement, electricity, fertilisers, refinery products, and natural gas, marks the lowest in 14 months.

FASTag KYC compliance deadline extended by one month

Wednesday 31 January 2024 04:53 PM UTC+00
FASTags update: Indian Highways Management Company, an arm of state-owned NHAI, will extend the KYC compliance deadline for FASTags by one month, a senior government official said today (January 31). Earlier on January 15, the National Highways Authority of India (NHAI) said FASTags with valid balances but incomplete KYC will get deactivated by banks post-January 31, 2024.
India Budget 2024 Live: Union Finance Minister Nirmala Sitharaman will present the interim Union Budget 2024 today. This year's budget holds significant importance because of the Lok Sabha elections 2024, due in April-May. Will it be a more business or employment-centric budget, will the common man get any relief in terms of income tax, will the government announce measures to curtail inflation, stay tuned for all the latest updates.
Goods and Services Tax (GST) collections in January surged by 10.40 per cent to exceed Rs 1.72 lakh crore, reflecting buoyant economic activity and setting the stage for the next phase of GST reforms.
The Goods and Services Tax (GST) collection for January 2024 has achieved the second-highest monthly collection ever. According to data from the Finance Ministry, the year-over-year growth for the first 10 months was 11.6 per cent, while the growth in the month of January reached 10.4 per cent.
Bank Holidays in February 2024: The second month of the year begins from today. In February, banks will remain closed for 11 days, including both the second and fourth Saturdays as well as Sundays, in addition to specific holidays like Saraswati Puja, which may differ by region or state. Banks operate on the first and third Saturdays of each month, but remain closed on the second and fourth Saturdays. While certain bank holidays are specific to particular states, national holidays result in closures across the country. However, nowadays most of the work related to banks is done online. But still there are many tasks like opening a bank account and taking a loan, for which one has to visit a bank branch. If you visit a bank without checking the list of bank holidays, you may face disappointment as your important tasks won't be completed. It's important to know in advance when the bank holidays are. Here's the list of bank holidays in February.
New Delhi: Finance Minister Nirmala Sitharaman is set to present the last budget of the Modi 2.0 government before the upcoming general elections. The budget, expected to be a mix of measures for the economy and targeted segments like farmers and women, is the sixth consecutive one for Sitharaman and may highlight the government's achievements over the past decade.
New Delhi: The 30-share BSE Sensex experienced a rise of 76.55 points, reaching 71,828.66, while the NSE Nifty recorded a gain of 19.80 points, reaching 21,745.50. Investors and market participants are likely to keep a close eye on developments related to the budget 2024, which can have an impact on market sentiment and trading activities throughout the day.
The Reserve Bank of India (RBI) has ordered Paytm Payments Bank (PPBL) to cease almost all its services after February 29, resulting in an estimated impact of Rs 300–500 crore on the company's annual operational profit.
Budget 2024: Finance Minister Nirmala Sitharaman is set to present the interim Budget, highlighting the achievements of the Modi government over the past 10 years and providing insights into future plans to transform India into a developed nation by 2047.
In the interim Budget presented by Finance Minister Nirmala Sitharaman, the Union government has assumed a nominal GDP growth of 10.50 per cent for the fiscal year 2024-25.
Union Finance Minister Nirmala Sitharaman said that the average real income of Indians has increased by 50 per cent and people's earnings have improved, leading to a better quality of life and increased aspirations for the future.
Budget 2024: Building upon the initiatives introduced in 2022, Union Finance Minister Nirmala Sitharaman has unveiled a comprehensive strategy aimed at achieving self-reliance (atmanirbharta) in the production of oilseeds. In her Budget speech in Parliament, she said the strategy encompasses a multifaceted approach, covering crucial aspects such as research for high-yielding varieties, the widespread adoption of modern farming techniques, establishing robust market linkages, facilitating efficient procurement mechanisms, promoting value addition processes, and enhancing crop insurance coverage. This holistic strategy aims to empower farmers engaged in the cultivation of oilseeds like mustard, groundnut, sesame, soybean, and sunflower, she added.
Budget 2024: Union Finance Minister Nirmala Sitharaman on Thursday presented the last budget of the Modi government 2.0 ahead of the Lok Sabha elections, due in April-May this year. Announcing the budget, Sitharaman said that the government looks forward for a Viksit Bharat, investing in islands including Lakshadweep, building more houses for poor, improving railways, focusing in solar power among other initiatives. In the last 10 years, the government has targeted each and every household and individual through housing for all, 'har ghar jal', electricity for all, cooking gas for all, bank accounts and financial services for all, she said. The Finance Minister, however, added, "In the full budget in July, our Government will present a detailed roadmap for our pursuit of Viksit Bharat."
Outlaying the roadmap for the Railways, Metro and NaMo Bharat, Finance Minister Nirmala Sitharaman that three major economic railway corridor programmes will be implemented. These are — energy, mineral and cement corridors, port connectivity corridors, and high-traffic density corridors. The projects have been identified under the PM Gati Shakti for enabling multi-modal connectivity. They will improve logistics efficiency and reduce cost. 
In her last Budget announcement before the Lok Sabha elections for 2024, Finance Minister Nirmala Sitharaman outlined various housing schemes. The government plans to launch a housing scheme for the middle class, aiming to assist them in buying or building their own homes.
Budget 2024: Union Finance Minister Nirmala Sitharaman on Thursday presented the interim Budget in Parliament ahead of the Lok Sabha elections. In her Budget speech, she said that a new scheme will be launched to bolster deep tech for the defence sector. She further said that the government will promote public and private investment in post-harvesting agriculture activities.
Union Finance Minister Nirmala Sitharaman, during the presentation of the interim Budget on Thursday, announced that there would be no changes to taxation, and she proposed to retain the same direct and indirect tax rates, including import duties.
During the presentation of the interim Budget, Finance Minister Nirmala Sitharaman mentioned the government's commitment to the 'Panchamrit' goals and outlined measures to achieve sustainable and resource-efficient economic growth.
Budget 2024: Union Finance Minister Nirmala Sitharaman vowed a commitment to economic reforms aimed at propelling growth in her Budget speech ahead of the upcoming Lok Sabha elections. This Interim Budget for 2024-25 assumes a pivotal role as an economic manifesto for the Bharatiya Janata Party (BJP), offering insights into its plans for fiscal consolidation, borrowing strategies, and the future direction of taxation policies.
Union Finance Minister Nirmala Sitharaman said that the average real income of Indians has increased by 50 per cent and people's earnings have improved, leading to a better quality of life and increased aspirations for the future.
Budget 2024: Building upon the initiatives introduced in 2022, Union Finance Minister Nirmala Sitharaman has unveiled a comprehensive strategy aimed at achieving self-reliance (atmanirbharta) in the production of oilseeds. In her Budget speech in Parliament, she said the strategy encompasses a multifaceted approach, covering crucial aspects such as research for high-yielding varieties, the widespread adoption of modern farming techniques, establishing robust market linkages, facilitating efficient procurement mechanisms, promoting value addition processes, and enhancing crop insurance coverage. This holistic strategy aims to empower farmers engaged in the cultivation of oilseeds like mustard, groundnut, sesame, soybean, and sunflower, she added.
Outlaying the roadmap for the Railways, Metro and NaMo Bharat, Finance Minister Nirmala Sitharaman that three major economic railway corridor programmes will be implemented. These are — energy, mineral and cement corridors, port connectivity corridors, and high-traffic density corridors. The projects have been identified under the PM Gati Shakti for enabling multi-modal connectivity. They will improve logistics efficiency and reduce cost. 
In her last Budget announcement before the Lok Sabha elections for 2024, Finance Minister Nirmala Sitharaman outlined various housing schemes. The government plans to launch a housing scheme for the middle class, aiming to assist them in buying or building their own homes.
Budget 2024: Union Finance Minister Nirmala Sitharaman on Thursday presented the interim Budget in Parliament ahead of the Lok Sabha elections. In her Budget speech, she said that a new scheme will be launched to bolster deep tech for the defence sector. She further said that the government will promote public and private investment in post-harvesting agriculture activities.
Union Finance Minister Nirmala Sitharaman, during the presentation of the interim Budget on Thursday, announced that there would be no changes to taxation, and she proposed to retain the same direct and indirect tax rates, including import duties.
During the presentation of the interim Budget, Finance Minister Nirmala Sitharaman mentioned the government's commitment to the 'Panchamrit' goals and outlined measures to achieve sustainable and resource-efficient economic growth.
Budget 2024: Union Finance Minister Nirmala Sitharaman vowed a commitment to economic reforms aimed at propelling growth in her Budget speech ahead of the upcoming Lok Sabha elections. This Interim Budget for 2024-25 assumes a pivotal role as an economic manifesto for the Bharatiya Janata Party (BJP), offering insights into its plans for fiscal consolidation, borrowing strategies, and the future direction of taxation policies.
Budget 2024: Union Finance Minister Nirmala Sitharaman on Thursday announced the interim budget, Modi government's last one ahead of the Lok Sabha elections, due to be held in April-May.
Following the unveiling of Budget 2024, the Sensex concluded with a decline of 107 points, reaching 71,645.30, while Nifty settled at 21,690.
Budget 2024: Building upon the initiatives introduced in 2022, Union Finance Minister Nirmala Sitharaman has unveiled a comprehensive strategy aimed at achieving self-reliance (atmanirbharta) in the production of oilseeds. In her Budget speech in Parliament, she said the strategy encompasses a multifaceted approach, covering crucial aspects such as research for high-yielding varieties, the widespread adoption of modern farming techniques, establishing robust market linkages, facilitating efficient procurement mechanisms, promoting value addition processes, and enhancing crop insurance coverage. This holistic strategy aims to empower farmers engaged in the cultivation of oilseeds like mustard, groundnut, sesame, soybean, and sunflower, she added.
Outlaying the roadmap for the Railways, Metro and NaMo Bharat, Finance Minister Nirmala Sitharaman that three major economic railway corridor programmes will be implemented. These are — energy, mineral and cement corridors, port connectivity corridors, and high-traffic density corridors. The projects have been identified under the PM Gati Shakti for enabling multi-modal connectivity. They will improve logistics efficiency and reduce cost. 
In her last Budget announcement before the Lok Sabha elections for 2024, Finance Minister Nirmala Sitharaman outlined various housing schemes. The government plans to launch a housing scheme for the middle class, aiming to assist them in buying or building their own homes.
Budget 2024: Union Finance Minister Nirmala Sitharaman on Thursday presented the interim Budget in Parliament ahead of the Lok Sabha elections. In her Budget speech, she said that a new scheme will be launched to bolster deep tech for the defence sector. She further said that the government will promote public and private investment in post-harvesting agriculture activities.
Union Finance Minister Nirmala Sitharaman, during the presentation of the interim Budget on Thursday, announced that there would be no changes to taxation, and she proposed to retain the same direct and indirect tax rates, including import duties.
During the presentation of the interim Budget, Finance Minister Nirmala Sitharaman mentioned the government's commitment to the 'Panchamrit' goals and outlined measures to achieve sustainable and resource-efficient economic growth.
Budget 2024: Union Finance Minister Nirmala Sitharaman vowed a commitment to economic reforms aimed at propelling growth in her Budget speech ahead of the upcoming Lok Sabha elections. This Interim Budget for 2024-25 assumes a pivotal role as an economic manifesto for the Bharatiya Janata Party (BJP), offering insights into its plans for fiscal consolidation, borrowing strategies, and the future direction of taxation policies.
Budget 2024: Union Finance Minister Nirmala Sitharaman on Thursday announced the interim budget, Modi government's last one ahead of the Lok Sabha elections, due to be held in April-May.
Following the unveiling of Budget 2024, the Sensex concluded with a decline of 107 points, reaching 71,645.30, while Nifty settled at 21,690.
Finance Minister Nirmala Sitharaman on Friday presented the interim Union Budget 2024 in the Parliament. In her budget speech, the finance minister termed the budget as a vision document for Viksit Bharat. While presenting the budget, she announced that the capital expenditure outlay for the next year is being increased by 11.1 per cent to Rs 11,11,111 crore, which would be  3.4 per cent of the GDP.
Outlaying the roadmap for the Railways, Metro and NaMo Bharat, Finance Minister Nirmala Sitharaman that three major economic railway corridor programmes will be implemented. These are — energy, mineral and cement corridors, port connectivity corridors, and high-traffic density corridors. The projects have been identified under the PM Gati Shakti for enabling multi-modal connectivity. They will improve logistics efficiency and reduce cost. 
In her last Budget announcement before the Lok Sabha elections for 2024, Finance Minister Nirmala Sitharaman outlined various housing schemes. The government plans to launch a housing scheme for the middle class, aiming to assist them in buying or building their own homes.
Budget 2024: Union Finance Minister Nirmala Sitharaman on Thursday presented the interim Budget in Parliament ahead of the Lok Sabha elections. In her Budget speech, she said that a new scheme will be launched to bolster deep tech for the defence sector. She further said that the government will promote public and private investment in post-harvesting agriculture activities.
Union Finance Minister Nirmala Sitharaman, during the presentation of the interim Budget on Thursday, announced that there would be no changes to taxation, and she proposed to retain the same direct and indirect tax rates, including import duties.
During the presentation of the interim Budget, Finance Minister Nirmala Sitharaman mentioned the government's commitment to the 'Panchamrit' goals and outlined measures to achieve sustainable and resource-efficient economic growth.
Budget 2024: Union Finance Minister Nirmala Sitharaman vowed a commitment to economic reforms aimed at propelling growth in her Budget speech ahead of the upcoming Lok Sabha elections. This Interim Budget for 2024-25 assumes a pivotal role as an economic manifesto for the Bharatiya Janata Party (BJP), offering insights into its plans for fiscal consolidation, borrowing strategies, and the future direction of taxation policies.
Budget 2024: Union Finance Minister Nirmala Sitharaman on Thursday announced the interim budget, Modi government's last one ahead of the Lok Sabha elections, due to be held in April-May.
Following the unveiling of Budget 2024, the Sensex concluded with a decline of 107 points, reaching 71,645.30, while Nifty settled at 21,690.
Finance Minister Nirmala Sitharaman on Friday presented the interim Union Budget 2024 in the Parliament. In her budget speech, the finance minister termed the budget as a vision document for Viksit Bharat. While presenting the budget, she announced that the capital expenditure outlay for the next year is being increased by 11.1 per cent to Rs 11,11,111 crore, which would be  3.4 per cent of the GDP.
Deutsche Bank said on Thursday that it would cut 3,500 jobs as part of efforts to slash costs by 2.5 billion euros (USD 2.7 billion) through next year and boost profits. The announcement comes despite Germany's largest lender benefits from higher global interest rates.
Outlaying the roadmap for the Railways, Metro and NaMo Bharat, Finance Minister Nirmala Sitharaman that three major economic railway corridor programmes will be implemented. These are — energy, mineral and cement corridors, port connectivity corridors, and high-traffic density corridors. The projects have been identified under the PM Gati Shakti for enabling multi-modal connectivity. They will improve logistics efficiency and reduce cost. 
In her last Budget announcement before the Lok Sabha elections for 2024, Finance Minister Nirmala Sitharaman outlined various housing schemes. The government plans to launch a housing scheme for the middle class, aiming to assist them in buying or building their own homes.
Budget 2024: Union Finance Minister Nirmala Sitharaman on Thursday presented the interim Budget in Parliament ahead of the Lok Sabha elections. In her Budget speech, she said that a new scheme will be launched to bolster deep tech for the defence sector. She further said that the government will promote public and private investment in post-harvesting agriculture activities.
Union Finance Minister Nirmala Sitharaman, during the presentation of the interim Budget on Thursday, announced that there would be no changes to taxation, and she proposed to retain the same direct and indirect tax rates, including import duties.
During the presentation of the interim Budget, Finance Minister Nirmala Sitharaman mentioned the government's commitment to the 'Panchamrit' goals and outlined measures to achieve sustainable and resource-efficient economic growth.
Budget 2024: Union Finance Minister Nirmala Sitharaman vowed a commitment to economic reforms aimed at propelling growth in her Budget speech ahead of the upcoming Lok Sabha elections. This Interim Budget for 2024-25 assumes a pivotal role as an economic manifesto for the Bharatiya Janata Party (BJP), offering insights into its plans for fiscal consolidation, borrowing strategies, and the future direction of taxation policies.
Budget 2024: Union Finance Minister Nirmala Sitharaman on Thursday announced the interim budget, Modi government's last one ahead of the Lok Sabha elections, due to be held in April-May.
Following the unveiling of Budget 2024, the Sensex concluded with a decline of 107 points, reaching 71,645.30, while Nifty settled at 21,690.
Finance Minister Nirmala Sitharaman on Friday presented the interim Union Budget 2024 in the Parliament. In her budget speech, the finance minister termed the budget as a vision document for Viksit Bharat. While presenting the budget, she announced that the capital expenditure outlay for the next year is being increased by 11.1 per cent to Rs 11,11,111 crore, which would be  3.4 per cent of the GDP.
Deutsche Bank said on Thursday that it would cut 3,500 jobs as part of efforts to slash costs by 2.5 billion euros (USD 2.7 billion) through next year and boost profits. The announcement comes despite Germany's largest lender benefits from higher global interest rates.
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