- Saturday, April 27, 2024
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Friday, November 25:
India’s federal rural development ministry has formed a panel to revamp its only job guarantee scheme in the hope of directing more work to the country’s poorer regions, a senior government official said on Friday, Reuters reported. The Mahatma Gandhi National Rural Employment Guarantee Scheme, or MNREGA, was in high demand in the Asian nation’s rural areas as they emerged from the pandemic amid soaring inflation and limited non-farm job opportunities. “The panel will recommend institutional mechanisms, including governance and administrative structures, for more effective utilization of funds, especially to address poverty,” the official said.
Congratulating the Narendra Modi government for the updated Nationally Determined Contribution (NDC) which seeks to enhance India’s commitment towards combating the climate change goal, Maharashtra deputy chief minister Devendra Fadnavis, who also holds the finance portfolio, has recommended incorporating tax concessions and incentives for clean energy industries in the upcoming national budget for 2023-24, Asian News International reported. On Friday, Indian finance minister Nirmala Sitharman chaired a pre-budget meeting with the finance ministers of all states and Union Territories to take their inputs and suggestions for the upcoming union budget 2023-24.
Indian billionaire Gautam Adani sees the takeover of news broadcaster New Delhi Television Ltd (NDTV) as a “responsibility” rather than a business opportunity, he said in an interview with the Financial Times on Friday, Reuters reported. The ports-to-energy conglomerate run by Adani, Asia’s richest person, unveiled plans late in August to acquire a majority stake in NDTV, seen as a bastion of independent media. The takeover attempt has triggered concerns among journalists and politicians that a change of ownership could undermine NDTV‘s editorial integrity. Founded in 1988 and owned by husband-and-wife team Prannoy Roy and Radhika Roy, NDTV previously said that the move by Adani Group “was executed without any input from, conversation with, or consent of the NDTV founders”.
Telecom major Jio has rolled out 5G service across all 33 district headquarters of Gujarat under its trial phase, the company said on Friday, Press Trust of India reported. This makes Gujarat the first state to get 5G service across all district headquarters and it is also the biggest roll-out of the next generation service till date on trial basis. “Today, Jio has taken a big stride forward by extending its True-5G coverage in each of the 33 district headquarters of Gujarat, thereby making Gujarat the first state in India to get Jio True 5G coverage in 100 per cent of the district headquarters. Gujarat holds a special place, as it is Reliance’s Janmabhoomi (birth place),” the company said in a statement. Jio is providing 5G services to subscribers at no additional cost.
Kotak Mutual Fund has cautioned all its investors, partners and the public at large regarding the fraudulent Telegram and social media groups and communities that promise huge amounts of returns against their investment, ANI reported. This advisory by the firm came after multiple social media entities over Telegram and other social media channels have what it said “misused” the Kotak Mutual Fund brand name, logo and spokesperson’s identity to misguide investors. “Kotak Mutual Fund has only one official Telegram handle (https://t.me/kotakmutualfund) and it does not promise or misguide investors in any form or on any social platforms for abnormal earnings or returns while investing in mutual funds,” it said in a statement on Friday.
