There has been a hike of almost 30% in the budget of the ministry of road, transport, and highways. States like Maharashtra, Uttar Pradesh and Bihar are still showing poor record in utilizing the state funds for the welfare of the citizens. The budget of 2021 has totally been set to increase the expenditure on […]
Category Archives: Business
The Federal Reserve announced on Tuesday that the US industrial output dropped 2.2% in February, a lower figure than anticipated due to winter storms that shut down factories across the country. The central bank stated that the extreme winter weather in the south-central region of the country in mid-February accounted for the bulk of the […]
AU Small Finance Bank (Jaipur Branch) has raised Rs 625.5 crore through qualified institutional placement by issuing shares to its investors (QIP). The issue debuted on March 9th with a floor price of Rs 1,181.06 per share. According to AU Small Finance Bank, the QIP received a positive response from both domestic and international institutional […]
High taxes on luxury vehicles in India, according to Mercedes-Benz, are limiting growth in the sector and the market considering its limited size is unlikely to expand rapidly, unless the tax structure is modified. However, after a 40% drop in demand due to the Covid-induced lockdown last year, demand has quickly recovered. “I believe the luxury market’s growth […]
The Hero Motors Company of India (HMC) Group announced on Tuesday plans to establish a new international headquarters in London, Hero International (HIT), as part of a drive towards expanding and strengthening Hero Cycles’ international presence. And the company aims to bring the European companies of HMC to one level and give their electric motorcycle […]
On Monday, the Nobel Prize winner economist Paul Krugman said that India should not return to the ‘licence raj’ and that the country should have a deliberate strategy for promoting industries. Krugman also said that income inequality is a serious problem in India, speaking at a virtual event organised by Ashoka University. “Don’t return to […]
The insurance regulator on Monday prohibited health insurers from changing or adding new benefits to current health plans if doing so would result in higher premiums, in an effort to shield policyholders from any unexpected increases in premiums as a result of such reforms. In a circular on product filing in health insurance on different […]
According to data released by the National Payments Corporation of India, SBI became the leading remitter on the UPI platform in February, while Paytm Payments Bank led the chart on the beneficiary segment. PhonePe holds top position in the app category on the UPI platform in terms of volume and amount involved in transactions. According […]
Uber is reclassifying its 70,000 UK drivers after the UK Supreme Court upheld a decision last month that they should be listed as employees rather than independent contractors. The company announced on Tuesday that drivers would be entitled to minimum wage, sick time, and a pension as “staff” — a classification special to employment law […]
Union Finance Minister Nirmala Sitharaman said on Tuesday, the last day of a two-day bank strike against the privatization programme, that the government has no plans to privatize all public sector banks in the world. When public sector banks are privatized, Sitharaman said that all measures will be taken to protect the interests of current […]