Name: Budget 2023 | Explained: tweaks to the personal tax regime
Uploaded: 2023-02-01T16:04:23.000+05:30
Duration: T01M09S
Channel: Editorji News Desk
Description: editorji's Business Editor Avni Raja decodes the big announcements in Budget 2023 for personal tax.

The President-elect’s tough stance comes as US-India trade ties continue to face friction over tariff structures, particularly on high-value goods like motorcycles, medical devices, and agricultural products.

Trump Signals Tough Trade Stance: Reciprocal Tariffs on India and Stricter Measures for Canada and Mexico

The President-elect&rsquo;s tough stance comes as US-India trade ties continue to face friction over tariff structures, particularly on high-value goods like motorcycles, medical devices, and agricultural products.

US President-elect Donald Trump has reiterated his commitment to reshaping trade relationships, targeting countries like India, Brazil, and North American neighbours, Canada and Mexico, with tougher tariff policies. Speaking at his Mar-a-Lago resort on Monday, Trump specifically criticized India&rsquo;s steep import tariffs on American goods, vowing a tit-for-tat approach to ensure "fairness in trade."
&ldquo;If they tax us, we tax them the same amount,&rdquo; Trump said, referencing India&rsquo;s 100% tariffs on certain US products. &ldquo;They charge us 100 and 200. India charges a lot, Brazil charges a lot. If they want to charge us, that's fine, but we're going to charge them the same thing,&rdquo; he added, stressing his focus on reciprocity in trade deals.
This rhetoric underscores Trump&rsquo;s broader push for economic fairness, a cornerstone of his administration&rsquo;s agenda. The President-elect&rsquo;s tough stance comes as US-India trade ties continue to face friction over tariff structures, particularly on high-value goods like motorcycles, medical devices, and agricultural products.
Tougher Measures on Canada and Mexico Trump&rsquo;s trade focus wasn&rsquo;t limited to India. Addressing ongoing issues with Canada and Mexico, Trump warned of imposing a 25% tariff on imports from both countries unless they take decisive action to combat the influx of drugs and migrants into the US.
Canada, in particular, has already taken steps to address Trump&rsquo;s concerns, announcing a CAD 1.3 billion investment in border security. This includes granting its border services enhanced powers to inspect goods destined for the US and increasing surveillance to curb illegal crossings.
The move follows a surge in migrant detentions along the US-Canada border, with over 23,000 people detained in the past year, compared to 10,000 the year prior. However, Canadian officials admit challenges in preventing southbound crossings, even as they deploy additional resources to strengthen enforcement.
The Business Implications Trump&rsquo;s focus on reciprocal tariffs and border security could have far-reaching consequences for businesses across sectors. For India, retaliatory tariffs from the US could impact key export categories, including textiles, pharmaceuticals, and auto components.
Meanwhile, stricter trade measures on Canada and Mexico could strain the USMCA, affecting industries heavily reliant on cross-border supply chains, such as automotive, agriculture, and technology.
As the President-elect prepares to take office, businesses across the globe are watching closely, anticipating shifts that could redefine trade norms and impact international market dynamics. For India and its counterparts, the message is clear: the era of "America First" trade policies is here.

Leading the list of losers were Shriram Finance Ltd. (SHRIRAMFIN), Grasim Industries Ltd. (GRASIM), Hero MotoCorp Ltd. (HEROMOTOCO), Bharti Airtel Ltd. (BHARTIARTL), and JSW Steel Ltd. (JSWSTEEL).

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

Leading the list of losers were Shriram Finance Ltd. (SHRIRAMFIN), Grasim Industries Ltd. (GRASIM), Hero MotoCorp Ltd. (HEROMOTOCO), Bharti Airtel Ltd. (BHARTIARTL), and JSW Steel Ltd. (JSWSTEEL).

In today&rsquo;s trading session, several NIFTY 50 heavyweights witnessed significant declines, driven by bearish technical indicators and sector-specific pressures. Leading the list of losers were Shriram Finance Ltd. (SHRIRAMFIN), Grasim Industries Ltd. (GRASIM), Hero MotoCorp Ltd. (HEROMOTOCO), Bharti Airtel Ltd. (BHARTIARTL), and JSW Steel Ltd. (JSWSTEEL).
Top Declining Stocks:
1. Shriram Finance Ltd. (SHRIRAMFIN)
<ul>
<li>Closing Price: ₹2,976.90</li>
<li>Percentage Decline: -5.12%</li>
<li>Day&rsquo;s High/Low: ₹3,135 / ₹2,965.25</li>
</ul>
<img src="https://cdn.editorji.com/6762582f1fb19_1734498351.png" width="601" height="304">
Analysis: SHRIRAMFIN faced a sharp sell-off, with a significant drop in RSI to 40.63, signalling oversold conditions. The stock&rsquo;s 50-EMA (₹3062.95) and 10-EMA (₹3116.97) both remain above the closing price, confirming continued bearish momentum.
<img src="https://cdn.editorji.com/67625866d64ef_1734498406.png" width="600" height="222">
MACD levels also weakened, indicating growing downside risks. Sectoral challenges in the Credit Services space and overall market sentiment amplified the decline.
<img src="https://cdn.editorji.com/6762587421fbe_1734498420.png" width="599" height="222">
2. GRASIM (Grasim Industries Ltd.)
<ul>
<li>Closing Price: ₹2599.70</li>
<li>Percentage Decline: -3.18%</li>
<li>Day&rsquo;s High/Low: ₹2685 / ₹2595.35 &nbsp;</li>
</ul>
<img src="https://cdn.editorji.com/676258a1c06a5_1734498465.png" width="599" height="303">
Analysis: GRASIM&rsquo;s decline was marked by a steep fall below its 10-EMA (₹2659.15) and 20-EMA (₹2647.92). The RSI dropped to 44.37, showing weakened momentum.
<img src="https://cdn.editorji.com/676258b658249_1734498486.png" width="602" height="223">
A bearish MACD of 15.47 further reinforced the stock&rsquo;s downward trend. The Basic Materials sector, especially Building Materials, faced pressure as GRASIM struggled to sustain its recent recovery.
<img src="https://cdn.editorji.com/676258c37a424_1734498499.png" width="600" height="222">
3. HEROMOTOCO (Hero MotoCorp Ltd.)
<ul>
<li>Closing Price: ₹4415.10</li>
<li>Percentage Decline: -2.73%</li>
<li>Day&rsquo;s High/Low: ₹4558.55 / ₹4397.35</li>
</ul>
<img src="https://cdn.editorji.com/676258de8b937_1734498526.png" width="601" height="304">
Analysis: HEROMOTOCO continued its downtrend with a declining RSI of 28.08, approaching oversold territory. The stock&rsquo;s 50-EMA (₹4676.98) and 20-EMA (₹4633.77) indicate sustained bearish sentiment.
<img src="https://cdn.editorji.com/676258eea8c01_1734498542.png" width="600" height="222">
MACD levels of -55.51 suggest further downside risks. Weak consumer sentiment in the Auto Manufacturers segment likely contributed to today&rsquo;s drop.
<img src="https://cdn.editorji.com/676258fe9f248_1734498558.png" width="602" height="223">
4. BHARTIARTL (Bharti Airtel Ltd.)
<ul>
<li>Closing Price: ₹1615.30</li>
<li>Percentage Decline: -2.85%</li>
<li>Day&rsquo;s High/Low: ₹1658.65 / ₹1608.50</li>
</ul>
<img src="https://cdn.editorji.com/67625918e9568_1734498584.png" width="600" height="304">
Analysis: BHARTIARTL failed to hold its recent gains, with the RSI dropping to 52.59 and MACD narrowing to 13.96.
<img src="https://cdn.editorji.com/6762592920bae_1734498601.png" width="602" height="223">
The stock breached its 10-EMA (₹1619.87) and struggled to recover above intraday resistance levels. Sentiment in the Telecom Services industry turned cautious, likely driving today&rsquo;s decline.
<img src="https://cdn.editorji.com/67625936a54a3_1734498614.png" width="597" height="221">
5. JSW STEEL (JSW Steel Ltd.)
<ul>
<li>Closing Price: ₹966.85</li>
<li>Percentage Decline: -2.37%</li>
<li>Day&rsquo;s High/Low: ₹990.80 / ₹961.45</li>
</ul>
<img src="https://cdn.editorji.com/6762597d33b30_1734498685.png" width="600" height="222">
Analysis: JSWSTEEL&rsquo;s RSI declined to 44.09, signaling fading momentum. The stock&rsquo;s closing price remained below its 10-EMA (₹990.94) and 20-EMA (₹987.25), indicating bearish dominance.
<img src="https://cdn.editorji.com/676259520747a_1734498642.png" width="601" height="304">
A weaker MACD of 4.87 suggests limited strength in the short term. The Steel industry faced headwinds, contributing to JSWSTEEL&rsquo;s underperformance.
<img src="https://cdn.editorji.com/6762598c331cc_1734498700.png" width="600" height="222">
Key Takeaways from the Day
Sectoral Impact:
<ul>
<li>The Financial Services sector was the hardest hit, with SHRIRAMFIN leading the losses.</li>
<li>Basic Materials (GRASIM and JSWSTEEL) and Consumer Cyclical (HEROMOTOCO) also saw selling pressure.</li>
<li>Telecom Services represented by BHARTIARTL showed signs of profit booking after recent gains.</li>
</ul>
Technical Weakness:
<ul>
<li>All five stocks traded below key moving averages, confirming bearish trends.</li>
<li>RSI levels for several stocks (HEROMOTOCO and JSWSTEEL) approached or entered oversold zones.</li>
<li>MACD divergence for SHRIRAMFIN and GRASIM pointed towards further downside risks.</li>
</ul>
Outlook: 
<ul>
<li>Investors are advised to exercise caution and monitor support levels closely.</li>
<li>For long-term investors, this dip may offer a potential entry point, provided there is a reversal in technical indicators and overall market sentiment.</li>
</ul>
Key Insights from Comparative Analysis
EMA Trends:
<ul>
<li>All five stocks are trading below their respective 10-EMA and 20/50-EMA, signalling bearish momentum.</li>
<li>SHRIRAMFIN and HEROMOTOCO exhibit the strongest bearish trends, with significant deviations from their EMAs.</li>
</ul>
MACD Divergence:
<ul>
<li>HEROMOTOCO and SHRIRAMFIN have the most negative MACD values, indicating stronger bearish momentum.</li>
<li>Stocks like BHARTIARTL and JSWSTEEL still have positive MACD values but show narrowing trends, signalling weakening bullish strength.</li>
</ul>
RSI Levels:
<ul>
<li>HEROMOTOCO stands out with an RSI of 28.08, deep in oversold territory, suggesting potential for a technical rebound.</li>
<li>SHRIRAMFIN and JSWSTEEL hover near 40, while BHARTIARTL is neutral at 52, showing resilience.</li>
</ul>
&nbsp;

He noted that the PLI (production-linked incentive) scheme with an outlay of Rs 24,000 crore has been introduced to boost domestic manufacturing of solar panels and modules.

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

He noted that the PLI (production-linked incentive) scheme with an outlay of Rs 24,000 crore has been introduced to boost domestic manufacturing of solar panels and modules.

India's renewable energy capacity addition almost doubled to 15GW during the April-November period of this fiscal compared to a year ago, indicating India's commitment towards the target of 500GW non-fossil capacity by 2030, Union New &amp; Renewable Energy Minister Pralhad Joshi said on Tuesday.
Addressing at CII International Energy Conference &amp; Exhibition 2024 here, Joshi said, "In fact, over the past decade, under the visionary leadership of Prime Minister Narendra Modi, India has charted an extraordinary path in the renewable energy sector. Today, India is one of the world's most promising nations in the clean energy space."
Between April and November of the current financial year, India added almost 15 GW of renewable energy capacity, nearly double the 7.54 GW added during the same period last year, he said.
At present, India's total installed capacity of the non-fossil fuel sector has touched 214 GW, over a 14 per cent increase compared to the same month last year.
The government is transforming the entire energy sector as this transformation is driven by a strong belief that a Viksit Bharat by 2047, is closely linked to sustainable and green growth, he said, adding that the roadmap for this transition is ambitious but achievable.
India is firmly committed to achieving the goal of 500 GW of non-fossil fuel-based generation capacity by 2030, he said.
The minister informed that in just last month alone, 2.3 GW of new capacity was added, which means a 4-fold increase from the 566.06 MW added in November 2023. "So yes, this transformation is not just a dream, it is happening today," he stressed.
In the last three financial years alone, he informed that India has attracted USD 6.1 billion in FDI into the renewable energy sector.
He noted that the PLI (production-linked incentive) scheme with an outlay of Rs 24,000 crore has been introduced to boost domestic manufacturing of solar panels and modules.
"We are also in the process of setting up 50 solar parks with a cumulative capacity of 38 GW by 2025-26," the minister informed.
The government under the PM Surya Ghar Muft Bijli Yojana is empowering Indian households by enabling them to generate their electricity through solar rooftops. The scheme targets 1 crore installations by 2026-27, with an outlay of Rs 75,021 crore.
On the Green Hydrogen Mission, he said "Under the SIGHT Programme of National Green Hydrogen Mission, we are extending support on 2 components majorly -- Component I for Electrolyser Manufacturing supported with Rs 4,440 crore and Component II for Green Hydrogen production supported with Rs 13,050 crore," he said.
He informed that two tranches of bidding have been completed under Component I allocating 3000 MWPA Electrolyser Manufacturing capacity. Under Component II, 4.12 Lakh tonnes per annum (LTPA) quantity has been awarded to 10 companies, with a total subsidy of Rs 3,055 crore.
Currently, 4.5 LTPA tender is live for green hydrogen production, and 7.39 LTPA for green ammonia (for fertilizers), he stated.
"So, I invite the industry to participate in full swing. Let me know if you need any further support, we are here for you," he said.
About the industry suggestion about strictly enforcing renewable purchase obligation (RPO) and the addition of power transmission infrastructure especially for renewables, he stated that his ministry has prepared certain proposals to boost the sector for the General Budget (to be tabled on February 1).
He sought industry suggestions and proposals so that those could be sent to the Ministry of Finance for consideration in the forthcoming budget.
The minister on this occasion also unveiled the second edition of the CII-EY Report on Energy Transition Investment Monitor.
(Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)

The Federal Reserve is widely anticipated to cut interest rates by 25 basis points during its final policy meeting of the year on Wednesday.

 Indian Markets Open Lower Amid Caution Ahead of US Federal Reserve Meeting

The Federal Reserve is widely anticipated to cut interest rates by 25 basis points during its final policy meeting of the year on Wednesday.

Indian equity benchmarks slipped on Tuesday as heavyweight financial stocks and Reliance Industries dragged the indices lower. Investors remained cautious ahead of the U.S. Federal Reserve's December 18 meeting, closely monitored for insights into its future interest rate cut trajectory.
At 09:20 a.m. IST, the NSE Nifty 50 declined by 0.3% to 24,599 points, while the BSE Sensex shed 0.3% to 81,492.02.
Out of the 13 major sectors, 10 traded in the red.
Key Drags on the Market
HDFC Bank fell 0.4% following a warning letter from the Securities and Exchange Board of India (SEBI). The market regulator alleged that the bank&rsquo;s disclosures surrounding the resignation of a senior employee were non-compliant with specific provisions.
Reliance Industries declined nearly 1%, pulling the energy index down by 0.5%.
On a positive note, broader markets, including small- and mid-cap stocks, showed marginal gains, providing some support.
Global Factors in Focus
The Federal Reserve is widely anticipated to cut interest rates by 25 basis points during its final policy meeting of the year on Wednesday.
Investors are particularly keen to understand the Fed&rsquo;s projections for 2025 and 2026, as well as any signals on scaling back rate cuts amidst potential inflationary pressures under the incoming Donald Trump administration.

Last week, the BSE benchmark gained 623.07 points or 0.76 per cent and the Nifty advanced 90.5 points or 0.36 per cent.

Five of top-10 most valued firms together add Rs 1.13 lakh Crore in market valuation

Last week, the BSE benchmark gained 623.07 points or 0.76 per cent and the Nifty advanced 90.5 points or 0.36 per cent.

Five of the 10 most valued firms added Rs 1,13,117.17 crore to their total market valuation last week with Bharti Airtel stealing the show.
While Tata Consultancy Services (TCS), HDFC Bank, Bharti Airtel, ICICI Bank and Infosys were the gainers, Reliance Industries, State Bank of India, Life Insurance Corporation of India (LIC), ITC and Hindustan Unilever took a hit in their valuations.
Last week, the BSE benchmark gained 623.07 points or 0.76 per cent and the Nifty advanced 90.5 points or 0.36 per cent.
The market valuation of Bharti Airtel surged by Rs 47,836.6 crore to Rs 9,57,842.40 crore.
Infosys added Rs 31,826.97 crore to its valuation at Rs 8,30,387.10 crore.
HDFC Bank&rsquo;s valuation rose by Rs 11,887.78 crore to Rs 14,31,158.06 crore and that of ICICI Bank increased by Rs 11,760.8 crore to Rs 9,49,306.37 crore.
The market capitalisation (mcap) of TCS climbed Rs 9,805.02 crore to Rs 16,18,587.63 crore.
However, the mcap of Reliance Industries declined by Rs 52,031.98 crore to Rs 17,23,144.70 crore.
The valuation of LIC tumbled Rs 32,067.73 crore to Rs 5,89,869.29 crore and that of Hindustan Unilever slumped Rs 22,250.63 crore to Rs 5,61,423.08 crore.The mcap of State Bank of India dropped Rs 2,052.66 crore to Rs 7,69,034.51 crore and that of ITC by Rs 1,376.19 crore to Rs 5,88,195.82 crore.
Reliance Industries remained the most valued firm followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, LIC, ITC and Hindustan Unilever.

A study published in November by the International Air Transport Association (IATA) showed that airfares have risen at a slower pace than consumer prices (measured by the Consumer Price Index, CPI) over the past decade.

Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist

A study published in November by the International Air Transport Association (IATA) showed that airfares have risen at a slower pace than consumer prices (measured by the Consumer Price Index, CPI) over the past decade.

Airlines are price takers as they do not have an influence on the prices they pay, IATA Chief Economist Marie Owens Thomsen has said and highlighted that carriers&rsquo; need to diversify their revenues is complicated by slim profit margins as well as weak balance sheets.
In a fast-growing aviation market like India where the air traffic demand is on the rise, there are persistent concerns about airfare trajectory and suggestions from various quarters to make air tickets more affordable.
Discussing overall airfares and the costs of airlines, Thomsen said airlines do not have any influence on the prices they pay.
&ldquo;There are too few aircraft manufacturers and oil companies. Whatever supplies we are looking at upstream, we are price takers and downstream, we have the hyper-competitive environment where all customers can see all fares from all airlines at all times. So, we always compete in price,&rdquo; she told PTI in an interview in Geneva earlier this week. Thomsen, who is the Chief Economist and Senior Vice President for Sustainability, said as airlines are price takers upstream and downstream, it leaves them with very little in the middle.
A study published in November by the International Air Transport Association (IATA) showed that airfares have risen at a slower pace than consumer prices (measured by the Consumer Price Index, CPI) over the past decade.
&ldquo;This indicates that air ticket prices have not fully kept up with inflation, especially in comparison to jet fuel costs, which have significantly outpaced consumer inflation,&rdquo; the study said.
Currently, jet fuel accounts for around 30 per cent of airlines&rsquo; operating costs.
To a question on whether there can be more transparency in the pricing of air tickets, Thomsen argued that if airlines were profiteering, the per-passenger profit would have been much higher.
&ldquo;When you have high ticket prices and low airline profits, then the money is going somewhere else,&rdquo; she said, pointing out that a third and a 50 per cent of the airline industry&rsquo;s costs are administrative costs.
&ldquo;The rest (of the costs) is actually for services of flying people or cargo,&rdquo; Thomsen noted.
As per IATA&rsquo;s latest outlook for 2025, airlines are projected to have a net profit of USD 1.8 per passenger while the overall net profit is expected to be USD 3.6 billion.
&ldquo;You can have a lot of activity and a big market and make no profit because your cost base is too high. Lot of them come from various types of regulatory fees and charges levied on airlines,&rdquo; Thomsen pointed out.
According to her, there is a need for revenue diversification by airlines but the situation is complicated by slim profit margins and weak balance sheets most airlines suffer from.
IATA represents around 340 airlines globally, including Indian carriers. The member airlines account for more than 80 per cent of the global air traffic. (Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)

The rise was primarily because Russian crude oil was available at a discount to other internationally traded oil due to the price cap and the European nations shunning purchases from Moscow.

India’s import of Russian oil drops in November on shrinking discounts

The rise was primarily because Russian crude oil was available at a discount to other internationally traded oil due to the price cap and the European nations shunning purchases from Moscow.

India&rsquo;s import of Russian crude oil dropped in November to its lowest level since June 2022 but the Kremlin continues to be the biggest source of oil for India, according to a monthly tracker report of a European think tank.
India became the second biggest buyer of Russian crude oil since Moscow invaded Ukraine in February 2022, with purchases rising from less than one per cent of the total oil imported to almost 40 per cent of the country&rsquo;s total oil purchases.
The rise was primarily because Russian crude oil was available at a discount to other internationally traded oil due to the price cap and the European nations shunning purchases from Moscow.
&ldquo;India&rsquo;s imports of Russian crude oil dropped by a massive 55 per cent in November - the lowest figure since June 2022,&rdquo; the Centre for Research on Energy and Clean Air (CREA) said in its latest report.
Russia remained India&rsquo;s top oil supplier, followed by Iraq and Saudi Arabia.
&ldquo;China has bought 47 per cent of Russia&rsquo;s crude exports, followed by India (37 per cent), the EU (6 per cent), and Turkey (6 per cent),&rdquo; CREA said without giving absolute numbers.
In November, there was a 17 per cent month-on-month increase in the discount on Russia&rsquo;s Urals grade crude oil to an average of USD 6.01 per barrel compared to Brent crude oil. The discount on the ESPO grade narrowed by a massive 15 per cent and was traded at an average discount of USD 3.88 per barrel while that on the Sokol blend narrowed by 2 per cent to USD 6.65 per barrel, it said.
Russia predominantly sells ESPO and Sokol grades of crude oil to India.
Besides crude oil, India bought smaller quantities of coal from Russia.
&ldquo;From December 5, 2022, until the end of November 2024, China purchased 46 per cent of all Russia&rsquo;s coal exports - India (17 per cent), Turkey (11 per cent), South Korea (10 per cent), and Taiwan (5 per cent) round off the top five buyers list,&rdquo; according to CREA.
All fossil fuels taken together, &ldquo;India dropped to third in the list of largest buyers of Russian fossil fuels in November, contributing 17 per cent (EUR 2.1 billion) to Russia&rsquo;s monthly export earnings from its top five importers. There was a significant 22 per cent drop in Russian revenues from crude oil exports to India in November,&rdquo; it said.
While there was an 11 per cent month-on-month decline in the total volume of India&rsquo;s imports of crude oil in November, Russian volumes suffered the most, dropping by a massive 55 per cent.
India imports more than 85 per cent of its crude oil, which is refined into fuels like petrol and diesel refineries.
In an attempt to restrict funds for Russia&rsquo;s war machine, The Group of Seven (G7) rich nations, the European Union and Australia put an embargo on Russian crude and introduced a USD 60 per barrel price cap in December 2022. Over the next 12 months, the price cap and embargo had a significant impact on revenue and forced Russia to find new markets and ways to transport its oil.
Russia did this by offering deep discounts on its Urals grade crude.
&ldquo;It has been two years since the imposition of the price cap. CREA estimates that in this period, the sanctions have forced Russia to drop the price of Urals by an estimated 15 per cent. Since the sanctions, Russia has lost an estimated EUR 14.6 billion in revenues from Urals grade crude exports,&rdquo; the report said.
In the second year of the sanctions, CREA estimates that sanctions impacted Russian Urals crude revenues by 10 per cent resulting in losses of EUR 4 billion.
This impact was felt heavily for the first half of 2024 when Russian revenues were hit by EUR 2.5 billion.
&ldquo;The price cap has had an impact but has failed to live up to its potential. A lack of enforcement and desire to lower the price cap has meant Russia has found a way to circumvent the cap and find new markets as time has gone by, especially in the second year of the sanctions,&rdquo; it said.
In the first year of the sanctions, Russia was losing, on average, 23 per cent of its Urals crude export revenues every month due to the price cap and embargo. This figure has fallen sharply to a mere monthly average of 9 per cent in the second year of the cap. (Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)

SIAM would also be setting up separate thematic pavilions on decarbonisation, circularity, electrification and road safety at the Expo.

Auto Expo to see highest-ever participation of vehicle manufacturers: SIAM

SIAM would also be setting up separate thematic pavilions on decarbonisation, circularity, electrification and road safety at the Expo.

The upcoming edition of Auto Expo will see the participation of 34 vehicle manufacturers, the largest number of participants to date, since the first edition of the marquee event in 1986.
The Society of Indian Automobile Manufacturers (SIAM) will be organising the 17th edition of the Auto Expo, &lsquo;The Motor Show&rsquo;, under the aegis of the Bharat Mobility Global Expo 2025 from January 17-22 at Bharat Mandapam, in partnership with ACMA and CII.
&ldquo;Around 34 vehicle manufacturers would be participating at the exhibition and showcasing technologies with respect to multiple powertrains,&rdquo; SIAM Director General Rajesh Menon told PTI.
It is the highest-ever participation in the history of the event so far, he added.
Automakers participating in the event include Tata Motors, Maruti Suzuki, Mahindra &amp; Mahindra, Toyota Kirloskar Motor, Hyundai Motor India, Kia Motor India, JSW MG Motor and Skoda Auto Volkswagen India, he stated.
Luxury carmakers like BMW, Mercedes, Porsche India, and BYD will also be showcasing their products during the event.
In the two-wheeler segment, there would be participation from TVS Motor Company, Bajaj Auto, Hero MotoCorp, Honda Motorcycle and Scooter India, Suzuki Motorcycle, and India Yamaha.
Similarly, Volvo Eicher Commercial Vehicles, Ashok Leyland, JBM and Cummins India will be participating in the event.
Menon said some of the pure EV players like Ather Energy, TI Clean Mobility, Eka Mobility, Ola Electric and Vinfast would also be participating this time in the Auto Expo.
SIAM would also be setting up separate thematic pavilions on decarbonisation, circularity, electrification and road safety at the Expo.
The Bharat Mobility Global Expo 2025 will be held between January 17 and 22 next year at Bharat Mandapam, Yashobhoomi (India International Convention and Expo Center) Dwarka, and India Expo Centre &amp; Mart, Greater Noida, simultaneously.
The last edition of the Auto Expo was held from January 11-18, 2023, at the India Expo Mart, Greater Noida. The inaugural Bharat Mobility Global Expo 2024 was held from February 1-3.
(Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)

India also ranked among the top countries sending tourists to Moscow, with over 60,000 Indian visitors in 2023, a 26% increase from 2022. 

Russia Eases Travel Norms for India, Visa-Free Travel Expected by 2025

India also ranked among the top countries sending tourists to Moscow, with over 60,000 Indian visitors in 2023, a 26% increase from 2022.

India and Russia are set to implement visa-free travel for Indian citizens to Russia by spring 2025, a move designed to boost tourism between the two countries. This initiative is expected to significantly increase the number of Indian visitors to Russia, especially to Moscow.
Evgeny Kozlov, Chairman of the Moscow City Tourism Committee, emphasized that the agreement, currently being developed, aims to ease travel restrictions and attract more tourists. "The number of travellers from India coming to the Russian capital will significantly increase thanks to this agreement," Kozlov said.
In June 2023, both countries began discussions on a bilateral agreement to ease visa restrictions, focusing on visa-free group tourist exchanges. This move follows the introduction of e-visas for Indian travellers in August 2023, allowing them to apply for a visa online within four days.
India was one of the top five countries for the number of e-visas issued by Russia in 2023, with 9,500 e-visas granted to Indian travellers, accounting for 6% of Russia&rsquo;s total e-visa issuances. Indians typically visit Russia for business or work-related reasons.
India also ranked among the top countries sending tourists to Moscow, with over 60,000 Indian visitors in 2023, a 26% increase from 2022. In the first quarter of 2024, India was the third-largest source of business tourists to Russia. By January 2024, nearly 1,700 e-visas had been issued to Indian travellers.
Russia has previously launched similar visa-free travel programs with China and Iran and aims to replicate this success with India by 2025.

Trump’s election has sparked widespread expectations for a more favourable regulatory environment for digital assets, reversing the crackdown imposed by the Biden administration. 

Bitcoin's Rally Continues: Surpasses $106,000 on News of Trump’s Bitcoin Reserve Fund

Trump&rsquo;s election has sparked widespread expectations for a more favourable regulatory environment for digital assets, reversing the crackdown imposed by the Biden administration.

Bitcoin surged to a record high on Monday, crossing the $106,000 mark for the first time, driven by optimism surrounding President-elect Donald Trump&rsquo;s pro-cryptocurrency stance. The digital asset climbed more than 3% in early Asian trading, reaching an unprecedented $106,493, surpassing its previous peak on December 5. The rally has extended Bitcoin&rsquo;s winning streak, marking its longest run since 2021.
Trump&rsquo;s election has sparked widespread expectations for a more favourable regulatory environment for digital assets, reversing the crackdown imposed by the Biden administration. He has also supported the creation of a strategic Bitcoin reserve fund, a move that has generated both excitement and scepticism.
Aya Kantorovich, co-founder of institutional crypto platform August, noted that many are banking on a friendlier regulatory landscape under Trump&rsquo;s leadership, which has fueled increased demand for Bitcoin-related exchange-traded funds (ETFs).
The positive sentiment surrounding Bitcoin has also extended to other cryptocurrencies, including Ether, XRP, and Dogecoin, which have all posted gains.
On Friday, Nasdaq Global Indexes announced that MicroStrategy, a major Bitcoin investor, will be added to the Nasdaq 100 Index, underscoring the growing mainstream acceptance of digital assets. MicroStrategy has raised capital to invest billions into Bitcoin, becoming a key player in the crypto market.
Despite the recent gains, analysts are cautioning that a pullback may be on the horizon. IG Australia&rsquo;s Tony Sycamore pointed out that the pace of Bitcoin&rsquo;s gains has slowed recently, suggesting a potential correction could be coming. As of Monday morning, Bitcoin was trading at $106,215 in Singapore.
The ongoing surge in Bitcoin prices reflects the market's optimism about Trump&rsquo;s impact on the crypto space, with many analysts predicting that $110,000 could be the next milestone for the leading cryptocurrency.

Editorji is a popular short video news and information platform based in India. It was founded in 2018 by Vikram Chandra, one of India’s leading journalists, and has risen to prominence in the digital news space in a relatively short span of time. The platform is primarily designed for mobile devices, with applications available for Android and iOS.

ABOUT US:

about us editorji

Latest Video News: Editorji provides the latest news video headlines, latest videos clip from India and the World. Get all breaking news videos on Entertainment, Business, Coronavirus, Elections, Politics and more.

Latest Video News, Breaking News, Bollywood, Political, Sports, Business News | Editorji

+91 11 4035 6666 / info@editorji.com
3rd floor, Plot B, Khasara no 360, Sultanpur, New Delhi, Delhi 110030
<a title="mail to us" href="mailto:info@editorji.com">Send Feedback</a>
<a title="Contact Us" href="mailto:info@editorji.com">Contact Us</a>

REACH US

Contact for any questions, suggestions, comments, feedback or advertisement on Editorji.com, we are always looking forward to hearing from you.

Contact Us for Feedback, Suggestions and Advertising 

Editorji content is better experienced in our app.

editorji's Business Editor Avni Raja decodes the big announcements in Budget 2023 for personal tax. 

Budget 2023 | Explained: tweaks to the personal tax regime

Finance Minister Nirmala Sitharaman on Wednesday tweaked the slabs to provide some relief to the middle class

editorji's Business Editor Avni Raja decodes the big announcements in Budget 2023 for personal tax.&nbsp;

Finance Minister Nirmala Sitharaman on Wednesday tweaked the slabs to provide some relief to the middle class by announcing that no tax would be levied on annual income of up to Rs 7 lakh under the new tax regime.
editorji's Business Editor Avni Raja decodes the big announcements in Budget 2023 for personal tax.&nbsp;
Also Watch: <a href="https://www.editorji.com/india-news/politics/union-budget-not-futuristic-anti-people-mamata-banerjee-1675245330349">Union Budget 'not futuristic', 'anti-people': Mamata Banerjee</a>

These measures are aimed at strengthening governance frameworks, reducing regulatory burdens, and enhancing investor protection across financial markets.

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

These measures are aimed at strengthening governance frameworks, reducing regulatory burdens, and enhancing investor protection across financial markets.

On Wednesday, the SEBI board approved a series of measures, including stricter regulatory norms for SME IPOs, a comprehensive overhaul of investment banking regulations, and an expanded definition of Unpublished Price Sensitive Information (UPSI).
Also, the board approved reforms to boost ease of doing business for Debenture Trustees, ESG rating providers, InvITs, REITs, and SM REITs.
In a statement after the board meeting, Sebi has decided to introduce specific timelines for fund deployment in New Fund Offers (NFOs) and eased compliance burdens for employees of Asset Management Companies (AMCs). A proposal has been cleared for establishing an agency for verifying risk-return metrics for entities like investment advisors and algorithmic traders.
The board also approved a proposal that requires custodians to maintain a net worth of Rs 75 crore. This would enable incidental activities, like fund accounting while emphasising conflict-of-interest safeguards.
Further, Sebi has decided to make electronic payments mandatory for Demat account holders to ensure quicker transactions.
These measures are aimed at strengthening governance frameworks, reducing regulatory burdens, and enhancing investor protection across financial markets.
With regards to SME IPOs, Sebi has decided to introduce profitability criteria for companies planning to come out with an IPO, put a limit on offer-for-sale (OFS) and introduce phased lock-in for promoters.
On the investment banking rules, Sebi is looking to introduce two categories based on net worth &mdash; Category 1 (Rs 50 crore minimum) for all activities and Category 2 (Rs 10 crore minimum), excluding equity issues on the main Board.
Merchant bankers would be required to meet revenue thresholds over three years to retain registration, except those managing only debt or hybrid securities. The liquid net worth of 25 per cent of the minimum requirement and underwriting limits of 20 times the liquid net worth have been mandated.
To curb conflicts of interest, merchant bankers cannot lead-manage public issues if key personnel hold more than 0.1 per cent of the issuer&rsquo;s shares.
Sebi has also decided to expand the definition of Unpublished Price Sensitive Information (UPSI) to include more material events for clarity.
Regarding Debenture Trustees (DTs), Sebi codified DT rights and issuer obligations to streamline fiduciary roles, mandated standardisation of Debenture Trust Deeds for uniformity, and required DTs to separate non-regulated activities into a new entity within two years.
On ESG rating providers (ERPs), Sebi said such entities need to ensure simultaneous sharing of ESG reports with issuers and subscribers and mandated separation of non-regulated activities to improve operational focus and transparency.
In the case of High-Value Debt Listed Entities (HVDLEs), Sebi has increased the identification threshold for HVDLEs from Rs 500 crore to Rs 1,000 crore, introduced a Business Responsibility and Sustainability Report (BRSR) voluntarily and a sunset clause and improved corporate governance norms for HVDLEs.
For the Special Purpose Distinct Entity (SPDE) Regulations, the regulator has enhanced eligibility criteria for SPDE trustees, amended the code of conduct for increased accountability, introduced e-voting for investors in SPDEs, and established safe harbour mechanisms for private securitisation transactions.
Also, the regulator has decided to impose full responsibility on market participants using artificial intelligence (AI) tools to safeguard data and ensure compliance.
(Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)

Switzerland is the largest source of gold imports, with about 40 per cent share, followed by the UAE (over 16 per cent) and South Africa (about 10 per cent).

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

Switzerland is the largest source of gold imports, with about 40 per cent share, followed by the UAE (over 16 per cent) and South Africa (about 10 per cent).

The government is examining if there were any calculation mistakes in the compilation of the gold imports data in November, as the sharp surge pushed the trade deficit to a record last month, an official said on Wednesday.
The rupee also hit an all-time low of 84.91 against the US Dollar on December 16.
The jump in gold imports pushed the country&rsquo;s trade deficit (difference between imports and exports) to a record USD 37.84 billion in November.
&ldquo;On noticing unusual surge, DGCIS (Directorate General of Commercial Intelligence and Statistics) has taken up detailed examination of the gold import data and reconciliation would be done with the data received by CBIC (Central Board of Indirect Taxes and Customs),&rdquo; the official said.
Kolkata-based Directorate General of Commercial Intelligence and Statistics (DGCI&amp;S), under the Ministry of Commerce, is an organisation for the collection, compilation and dissemination of India&rsquo;s trade statistics and commercial information.
The country&rsquo;s gold imports in November reached a record high of USD 14.86 billion, registering a four-fold increase, mainly on account of festival and wedding demands.
Gold imports stood at USD 3.44 billion in November 2023.
Cumulatively, imports during April-November this fiscal rose 49 per cent to USD 49 billion against USD 32.93 billion a year ago.
According to the ministry, gold, with about 25 per cent average annual return, is one of the best-performing assets in 2024 (till November), and high imports indicate strong investor confidence in the precious metal as a safe asset.
The other reasons include asset diversification towards gold due to global uncertainties, increasing demand from banks, and cuts in customs duties.
Prices of the yellow metal have increased 23 per cent so far this year to Rs 78,350 per 10 gm in the national capital.
In the Budget, the government slashed the duty from 15 per cent to 6 per cent.
India&rsquo;s gold imports, which have a bearing on the country&rsquo;s current account deficit (CAD), surged 30 per cent to USD 45.54 billion in 2023-24.
Switzerland is the largest source of gold imports, with about 40 per cent share, followed by the UAE (over 16 per cent) and South Africa (about 10 per cent).
The precious metal accounts for over 5 per cent of the country&rsquo;s total imports.
India is the world&rsquo;s second-biggest gold consumer after China. It imports about 800-900 tonnes annually.
The imports mainly take care of the demand by the jewellery industry.
Gems and jewellery exports last month declined 25.32 per cent year-on-year to USD 17.43 billion.
The country&rsquo;s CAD widened marginally to USD 9.7 billion, or 1.1 per cent of the GDP, in April-June 2024 against USD 8.9 billion, or 1 per cent, in the year-ago period.
A current account deficit occurs when the value of goods and services imported and other payments exceed the value of the export of goods and services and other receipts by a country in a particular period.
India is seeking a review of certain provisions of the free trade agreement with the UAE, which came into force on May 1, 2022.
The review assumes significance as experts have raised serious concerns over the spurt in imports of precious metals from the UAE under the trade agreement.
(Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)

On December 18, 2024, the Indian stock market experienced a day of mixed performance across various sectors. The Nifty50 index closed at 24,198.85, reflecting a slight decline of 0.56% from the previous day.

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

On December 18, 2024, the Indian stock market experienced a day of mixed performance across various sectors. The Nifty50 index closed at 24,198.85, reflecting a slight decline of 0.56% from the previous day.

On December 18, 2024, the Indian stock market experienced a day of mixed performance across various sectors. The Nifty50 index closed at 24,198.85, reflecting a slight decline of 0.56% from the previous day.
Similarly, the NiftyBank index ended at 52,139.55, marking a 1.32% decrease.&nbsp;
Silver Linings: IPO Debuts
Amid the bearish sentiment, the IPO market provided a bright spot. MobiKwik made a stellar debut, skyrocketing 80% on listing. Similarly, Vishal Mega Mart surged 37%, and Sai Life Sciences posted a robust 28% gain on its first trading day. These performances underscored strong investor demand in the primary market, even as secondary markets faltered.
Nifty50: Neutral to Bearish Outlook
<ul>
<li>Opening Price: 24,297.95</li>
<li>Closing Price: 24,198.85</li>
<li>RSI: 46.77 (Neutral to Slightly Bearish)</li>
<li>MACD: Signal line above MACD (Bearish)</li>
</ul>
<img src="https://cdn.editorji.com/6762ad9be279e_1734520219.png" width="644" height="322">
 The Nifty50 index showed a slight pullback, with the MACD suggesting bearish momentum as the signal line remained above the MACD. The RSI was at 46.77, indicating a neutral sentiment with a slight bearish tilt. The market is showing signs of consolidation or weakness, and traders remain cautious. 
NiftyBank: Weakness Continues
<ul>
<li>Opening Price: 52,696.95</li>
<li>Closing Price: 52,139.55</li>
<li>RSI: 45.84 (Neutral to Bearish)</li>
<li>MACD: Signal line above MACD (Bearish)</li>
</ul>
<img src="https://cdn.editorji.com/6762ad77803bc_1734520183.png" width="644" height="322"> The NiftyBank sector showed continued weakness, with the MACD confirming a bearish trend. The signal line above the MACD indicates that the downward momentum is likely to persist. The RSI of 45.84 suggests that the sector remains neutral to slightly bearish, with no strong signs of recovery. 
NiftyIT: Bullish Momentum
<ul>
<li>Opening Price: 45,293.05</li>
<li>Closing Price: 45,526.85</li>
<li>RSI: 70.06 (Bullish)</li>
<li>MACD: Signal line below MACD (Bullish)</li>
</ul>
<img src="https://cdn.editorji.com/6762ad52cb471_1734520146.png" width="642" height="321">
 The NiftyIT sector demonstrated a strong bullish momentum, with the RSI in the bullish range at 70.06. The MACD line was above the signal line, indicating ongoing upward momentum. This suggests that the IT sector is performing well and could continue to show strength.
&nbsp;
NiftyAuto: Mild Bearish Sentiment
<ul>
<li>Opening Price: 23,319.60</li>
<li>Closing Price: 23,241.25</li>
<li>RSI: 42.29 (Neutral to Bearish)</li>
<li>MACD: Signal line above MACD (Bearish)</li>
</ul>
<img src="https://cdn.editorji.com/6762ad33ef5f9_1734520115.png" width="644" height="322">
The NiftyAuto sector experienced mild bearish sentiment with the RSI of 42.29, indicating a slightly bearish outlook. The MACD signal line above the MACD further suggests that the sector is facing downward pressure, and the sentiment remains cautious.
&nbsp;
NiftyFMCG: Consolidating with Bearish Bias
<ul>
<li>Opening Price: 56,578.35</li>
<li>Closing Price: 56,467.80</li>
<li>RSI: 41.75 (Neutral to Bearish)</li>
<li>MACD: Signal line above MACD (Bearish)</li>
</ul>
<img src="https://cdn.editorji.com/6762ad131e46b_1734520083.png" width="640" height="320">
The NiftyFMCG sector displayed a bearish bias as the RSI was at 41.75, indicating that it was neutral to slightly bearish. The MACD line was below the signal line, confirming a bearish outlook, with no immediate sign of a strong upward move.
&nbsp;
NiftyInfra: Neutral Momentum
<ul>
<li>Opening Price: 8,771.55</li>
<li>Closing Price: 8,695.95</li>
<li>RSI: 45.34 (Neutral)</li>
<li>MACD: Signal line below MACD (Bullish)</li>
</ul>
<img src="https://cdn.editorji.com/6762acf23ed51_1734520050.png" width="634" height="317">
The NiftyInfra sector exhibited neutral momentum, with the RSI at 45.34 showing a neutral sentiment. However, the MACD line was above the signal line, suggesting a potential for bullish momentum, although not yet a clear breakout. 
NiftyEnergy: Bearish Sentiment
<ul>
<li>Opening Price: 36,300.50</li>
<li>Closing Price: 35,981.80</li>
<li>RSI: 31.58 (Bearish)</li>
<li>MACD: Signal line above MACD (Bearish)</li>
</ul>
<img src="https://cdn.editorji.com/6762acb68982b_1734519990.png" width="640" height="320">
The NiftyEnergy sector showed significant bearish momentum, with an RSI of 31.58, indicating an oversold condition and a bearish outlook. The MACD further confirmed this, with the signal line positioned above the MACD, suggesting continued downward momentum.
&nbsp;
NiftyMetal: Mild Bullish Sentiment
<ul>
<li>Opening Price: 9,207.50</li>
<li>Closing Price: 9,069.90</li>
<li>RSI: 41.80 (Neutral)</li>
<li>MACD: Signal line below MACD (Bullish)</li>
</ul>
<img src="https://cdn.editorji.com/6762ac5842bcf_1734519896.png" width="634" height="317">
The NiftyMetal sector showed mild bullish sentiment, with the RSI at 41.80, indicating a neutral bias. The MACD signal line below the MACD suggests that there is some upward potential in the sector, though the momentum is not very strong.

"The committee strongly recommends that the Department of Agriculture and Farmers Welfare declare a roadmap for implementing MSP as a legal guarantee at the earliest," the report stated.

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

"The committee strongly recommends that the Department of Agriculture and Farmers Welfare declare a roadmap for implementing MSP as a legal guarantee at the earliest," the report stated.

A parliamentary panel on Tuesday recommended the government implement a legally binding minimum support price (MSP) for agricultural produce, arguing that such a measure could significantly reduce farmer suicides and provide crucial financial stability.
The Standing Committee on Agriculture, Animal Husbandry and Food Processing, headed by Congress MP Charanjit Singh Channi, submitted a comprehensive report to Parliament highlighting the potential benefits of a legally guaranteed MSP.
"The committee strongly recommends that the Department of Agriculture and Farmers Welfare declare a roadmap for implementing MSP as a legal guarantee at the earliest," the report stated.
Currently, the government fixes MSP for 23 commodities based on the Commission for Agricultural Costs and Prices (CACP) recommendations.
The panel argued that a legally binding MSP would not only safeguard farmers' livelihoods but also promote rural economic growth and enhance national food security.
The committee's key recommendations include: implementing a robust MSP system to mitigate farmer suicides, providing compensation to farmers for managing crop residue, establishing a National Commission for Minimum Living Wages for Farm Labourers, introducing a debt waiver scheme for farmers and farm labourers, and renaming the agriculture department to include farm labourers.
The committee emphasized that assured income through MSP would encourage farmers to invest in agricultural practices, potentially increasing productivity and sustainability.
The panel also suggested the government provide a statement in Parliament after each crop season, detailing the number of farmers selling produce at MSP and the gap between MSP and market prices.
It may be noted that a legal guarantee of MSP for agricultural produce was one of the key demands of protesting farmers in 2021 which forced the government to withdraw three farm laws and set up a committee on MSP to look into the matter.

He invited domestic and global corporates to visit Bihar and said the government is ready to assist and collaborate for mutual growth.

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

He invited domestic and global corporates to visit Bihar and said the government is ready to assist and collaborate for mutual growth.

Bihar Deputy Chief Minister Samrat Choudhary has asserted that the state is fully prepared to create a robust business ecosystem with improved infrastructure facilities along with a better law and order situation while assuring domestic and global firms that their investment is &ldquo;safe&rdquo;.
In a podcast interview with PTI, Choudhary, who is also the finance minister, highlighted the steps that are being taken by the state government to change the image of Bihar and attract investments into the state to create employment opportunities and achieve higher economic growth.
The state government is organizing the 'Bihar Business Connect' Summit on December 19-20 here to attract investments.
&ldquo;With the guidance of Chief Minister Nitish Kumar and Prime Minister Narendra Modi, Bihar is fully prepared to create a robust business ecosystem. Bihar is ready to stand with you, offering all the support needed for your success,&rdquo; Choudhary said.
He invited domestic and global corporates to visit Bihar and said the government is ready to assist and collaborate for mutual growth.
In a message to investors before this mega event, Choudhary said, &ldquo;I firmly believe that Bihar is a safe state&rdquo; and its infrastructure is &ldquo;strong&rdquo;.
Choudhary informed that the state government is increasing the power capacity from around 3,800 MW to about 8,000 MW.
&ldquo;We will ensure that electricity is available in full, provide subsidies, support through various incentives, and make efforts to help investors progress by offering economic assistance,&rdquo; the Deputy CM promised.
The state is providing incentives for setting up industries, offering subsidies in electricity and GST exemptions, he further said.
Asked about the sectors that have the potential for investment, Choudhary said food processing has great opportunities.
&ldquo;Food processing units, I believe, are very important, especially in 38 districts, where 38 products are our identity. Here, we aim to establish food processing units,&rdquo; he said.
Recently, the Deputy CM said, the state has received approval for about 36 lakh litres of ethanol manufacturing capacity.
&ldquo;There is a need to set up more ethanol plants in Bihar&hellip; This is essential for the farmers growing maize, rice, and other cereals, as we will be able to sell them directly to the ethanol plants, and it will also ensure the availability of funds,&rdquo; he said.
Choudhary said the state government will also promote MSMEs.
&ldquo;We will support the growth of small-scale industries and encourage SHGs (Self-Help Groups) at the grassroots level, where 10-15 sisters will work together in small industries to generate employment. This will continue to drive the progress of our Bihar,&rdquo; he said.
On job creation, Choudhary said the government will ensure local employment generation.
&ldquo;Bihar, due to its availability of labour at the lowest rates, will play a significant role. We will focus on skill development here. We will ensure that the factories setting up in Bihar will have access to skilled labour, and we will take care of providing employment opportunities for the local people.&rdquo; On physical infrastructure, Choudhary said two airports have become operational in Bihar recently.
&ldquo;Purnia is almost complete, Bihta is about to start, and we are working on completing the Raxaul airport. We are also working on four to five airports, including Bhagalpur and Rajgir.&rdquo; The state is also focusing on improving connectivity through all three options &mdash; roadways, airways and waterways.
He said the state government is also working on how to manage floods in North Bihar and water shortage in South Bihar.&nbsp;
(Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)

Highlights

Latest news

Budget 2023 | Explained: tweaks to the personal tax regime

Up Next

More videos

Categories