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  • Vodafone Idea to sell 9.9% stake in Indus Towers on Wednesday.
  • Whereas Hyundai, Tata Motors and M&M are in favour of subsidy of EV and against subsidy on hybrid vehicles. Maruti, Toyota, Honda on the other hand wants subsidy on hybrid vehicles.
  • India’s net direct tax collections for 24-25 grew about 9.81% till mid-June 2024. Good growth rates.
  • Goldman Sachs sells about 44.2 lakh shares worth Rs 183 crores in PayTM via block deal.
  • India’s market regulator is considering a series of tweaks to its derivatives trading rules. The new rules could include higher margins for options contracts and more detailed disclosures and are being considered after a series of meetings with exchanges, brokers, and fund houses.
  • India Inc has asked Finance Minister to cut excise on fuel and give tax relief to Aam Admi.
  • PM Narendra Modi led Cabinet on Wednesday approved the development of greenfield deep draft port at Vadhavan in Maharashtra for Rs 76200 crores. The port will have nine container terminals each 1000 metres long, four multipurpose berths, including the coastal berth, four liquid cargo berths, a Ro Ro berth and a Coast Guard berth.
  • Railways creates 13000 new jobs for train drivers.
  • Road construction has dropped 12.1% this fiscal till date may be due to excessive heat as well as general elections.
  • JLR, Tata Motor’s UK subsidiary, has increased its planned five-year investment by 3 billion pounds.
  • Government approves extension of Varanasi airport.
  • Expecting heightened demand once new criminal laws come into force, PM Modi led Union Cabinet on Wednesday approved a new scheme ‘Central Sector Scheme’ National Forensic Infrastructure Enhancement Scheme with a financial outlay of Rs 2254.43 crores.
  • Cabinet raises paddy [rice] MSP by Rs 117 to Rs 2300 per quintal for 24-25.
  • The Government raises MSPs for about 14 kharif crops. Government clears Rs 7453 crores VGF [Viability Gap Funding] scheme for offshore wind energy projects.
  • Bank of England keeps key interest rate at 16 years high of 5.25% despite inflation fall.
  • Soon the subscribers of the NPS will have another option to invest in. The balance life cycle fund. Until 45 years of age, investments are split equally between equity and debt. Thereafter equity component goes down gradually and debt portion goes up. Pension regulator PFRDA is targeting huge growth to the asset base to Rs 15 lakh crores this year end. This corpus may grow by leaps and bounds, once the above scheme is introduced.
  • A special wing of ‘Cyber Commandos’ is being worked on by the Ministry of Home Affairs for over a year and has now found mention in the 100-day agenda.

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