Finance

India’s Logistics Costs to Drop to 9% of GDP by 2026

By Editor - News Desk December 9, 2024

India aims to bring down its logistics costs from 16% of GDP to 9% within the next two to three years, as announced by Union Minister Nitin Gadkari. This ambitious target seeks to strengthen economic competitiveness by streamlining the nation’s supply chain infrastructure. Infrastructure Development Initiatives The government is accelerating infrastructure projects,

Finance

India’s Inflation Expected to Ease to 5.4% in November

By Editor - News Desk December 9, 2024

Decline in Vegetable Prices Expected to Ease India’s Inflation India’s inflation rate is anticipated to decrease to 5.4% in November 2024, down from 6.21% in October, primarily due to a significant drop in vegetable prices. This decline is expected to provide relief to consumers and may influence the Reserve Bank of India’s (RBI) monetary policy […]

Business Markets

India Inc’s Record ₹1.33 Lakh Crore Fundraising Amid IPO Boom

By Editor - News Desk December 9, 2024

In a remarkable display of financial dynamism, Indian corporations have collectively raised an unprecedented ₹1.33 lakh crore through initial public offerings (IPOs) in the current fiscal year. This surge underscores a robust investor confidence and a vibrant capital market ecosystem. Surge in IPO Activity The fiscal year has witnessed a significant uptick in IPO activity,

Finance

Economists Advocate New Manufacturing Policy in Pre-Budget Meet

By BPN News Desk December 7, 2024

In a pre-Budget consultation chaired by Finance Minister Nirmala Sitharaman, economists called for the introduction of a new manufacturing policy to stimulate economic growth. The meeting, held as part of preparations for the Union Budget 2024-25, focused on strategies to boost private investments and revitalize India’s industrial sector. Push for Manufacturing and

Business

JSW Group to Invest ₹15,000 Crore in Lithium-Ion Battery Plant in Nagpur

By BPN News Desk December 6, 2024

The Maharashtra government has offered 450 acres of land in Nagpur’s additional Butibori industrial estate to the JSW Group for its ambitious lithium-ion battery manufacturing project. With an initial investment of ₹15,000 crore, this project is a cornerstone of Maharashtra’s industrial growth strategy and a significant step toward India’s green energy

Finance

Direct Tax Code 2025: Simplified Tax Laws to Benefit Middle-Class Taxpayers

By BPN News Desk December 5, 2024

The Indian government is set to unveil the Direct Tax Code (DTC) 2025, a comprehensive reform of the country’s income tax laws, in the Union Budget on February 1, 2025. The new code will replace the Income Tax Act of 1961, aiming to simplify the taxation process, reduce compliance burdens, and align tax laws with […]

Finance

No Plans for Public Sector Bank Mergers, Finance Ministry Confirms

By BPN News Desk December 4, 2024

The Finance Ministry has clarified that no proposals are currently under consideration for merging public sector banks (PSBs). This statement was made in the Rajya Sabha on Tuesday, with the Ministry also acknowledging the positive impact of previous consolidations in the sector. Mergers Yield Positive Results In recent years, India has seen significant consolidation in

Business

Amazon Data Services Acquires 38 Acres Near Mumbai for ₹450 Crore

By BPN News Desk December 4, 2024

In a strategic development to reinforce its data infrastructure in India, Amazon Data Services Pvt Ltd has finalized the acquisition of a 38-acre land parcel in Ambernath, near Mumbai. The deal, valued at ₹450 crore, signals Amazon’s focused expansion into the data center ecosystem in one of the country’s fastest-growing digital hubs. Strategic Location to […]

Finance

Lok Sabha Approves Banking Laws Amendment Bill

By BPN News Desk December 4, 2024

The Lok Sabha has approved the Banking Laws Amendment Bill, aimed at improving financial security and streamlining nominee management in banking operations. This significant move allows account holders to designate up to four nominees for a single bank account, providing flexibility and enhanced safety for depositors and their families. Key Provisions of the Amendment The

Business Industry

Big Tech Layoffs Surge: 150,000 Jobs Lost in 2024

By BPN News Desk December 4, 2024

The tech industry is undergoing one of its most turbulent years in 2024, with nearly 150,000 jobs slashed across major companies like Tesla, Intel, Cisco, and others. As economic conditions tighten, big tech is restructuring operations to adapt to shifting market dynamics, streamline costs, and focus on growth opportunities. Intel’s Historic Workforce Reduction Intel