30/09/2024
- US Fed will meet on 17-18th Sept and may either decrease interest rates in this meeting or may promise to do so in the next couple of meetings. That will send a big global message that growth is now a priority and the inflation is by and large under control.
- Forex reserves at an all-time high of $689 billion.
- GST on health and life insurance premiums will be reduced but a decision yet to be taken at the next council meeting.
- The Securities and Exchange Board of India (SEBI) has notified norms governing Foreign Venture Capital Investors (FVCIs), effectively bringing them at par with those for Foreign Portfolio Investors (FPIs). A little stricter than previous rules.
- Tata Power arm starts commercial production at 2 GW solar Tirunelveli unit.
- Within 2 years, the cost of petrol and diesel vehicles should be the same as that of an EV and if that happens, there will be a mass shift towards electric vehicles. Indian EV market potential likely to touch Rs 20 trillion by 2030.
- Apple lost a case with the European Union on Tuesday, where the company will have to pay $ 14.4 billion in back taxes to Ireland.
- Reliance Retail Venture and Israeli apparel firm Delta Galil on Tuesday confirmed its partnership in expanding India’s inner wear market.
- The Government has received investment proposals worth around Rs 75000 crores under the Auto PLI scheme of which close to Rs 18000 crore has already been invested.
- US Defence Giant Lockheed Martin and Tata Advanced Systems on Tuesday announced a teaming agreement to expand on their engagement through the C130J Super Hercules tactical airlift project in India.
- In a major policy move, 6 crore more people brought under Ayushman cover.
- The Ayushman Bharat PM Jay Scheme approved with a budget of Rs 3437 crores aim to provide universal health coverage for senior citizens aged 70 and above.
- For Hydro Power projects, the Government will provide subsidy of Rs 1 crore per MW upto 200 MW and Rs 200 crore plus 0.75 crore per MW for above 200 MW projects.
- India’s retail inflation at 3.65% in August, IIP rises to 4.8% in July.
- India will drive almost 20% of the global economic growth in the next decade according to Amitabh Kant. According to Gautam Adani, India will add around $1 trillion in GDP every 18 months. Of course, this is a 20 year average. So, the initial addition will be slow and it will pick up in a major way later on. The average should be around 1 trillion dollar in 18 months.
- Price Waterhouse Coopers fires 1800 in US as part of big restructuring.