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Budget Aims to Revitalize Economy and Boost Private Sector Investment: FICCI

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FICCI President Harsha Vardhan Agarwal stated on Saturday that the proposals in the Union Budget are poised to invigorate the economy by uplifting the middle class and incentivizing the private sector to pursue investment plans as demand across various sectors rises.FICCI has expressed support for several initiatives, including a revamped Central KYC registry, a new Income Tax Bill, the Jan Vishwas Bill 2.0, further regulatory reforms, and a reduction in applicable customs tariff rates. These efforts, aimed at enhancing the ease of doing business in India, reflect the government’s ongoing commitment to the principle of ‘Minimum Government, Maximum Governance.’

The budget pays particular attention to the MSME sector. The revision of classification criteria and the doubling of credit limits with guarantee coverage are expected to significantly impact the growth of this crucial sector, which is vital to the economy’s foundation. Additionally, specific measures targeted at labor-intensive sectors, such as footwear, leather, food processing, and toys—predominantly occupied by MSMEs—are set to enhance employment opportunities, particularly in tier 2 and tier 3 towns and cities.

On the infrastructure front, the budget emphasizes the maritime sector, introducing a new Maritime Development Fund designed to invigorate the marine economy, particularly in coastal regions, fostering growth in both trade and the blue economy. FICCI is also interested in the initiative to connect 120 new destinations under the UDAN scheme, which is anticipated to create economic opportunities and transform newly connected areas into emerging growth centers.

To bolster the Make in India initiative for global markets, the budget includes various measures aimed at promoting exports. A highlight is the introduction of Bharat Trade Net, a new digital public infrastructure that will provide a unified platform for trade documentation and financing solutions for merchants and merchandise exporters. The government is capitalizing on India’s technical and digital capabilities to enhance business efficiency, and FICCI is optimistic that this new infrastructure will streamline various export processes, facilitating better communication and reducing the costs and time associated with doing business.

Additionally, the Union Budget features several measures to enhance the skilling ecosystem, ensuring that youth are equipped with the skills needed for emerging technologies in high demand in industry. The budget’s commitment to increase capacity at premier technical institutions, such as IITs, expand medical education seats, establish 50,000 Atal Tinkering Labs, and create a new Centre of Excellence for AI education is commendable. These initiatives aim to reinforce India’s position as a global source of skilled manpower capable of meeting both domestic and international needs.

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Fuel Prices Hiked by Rs.3 per Litre across India

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New Delhi: Petrol and diesel prices have been increased by Rs.3 per litre across the country from today. Oil marketing companies revised the rates due to the rise in global crude oil prices.

After the hike, petrol price in Bengaluru has reached Rs.106.17 per litre, while diesel now costs   Rs.94.10 per litre.

The increase comes amid fluctuations in international crude oil prices and tensions in West Asia, including the Iran conflict. The fall in the value of the Indian rupee against the US dollar has also increased import costs.

The fuel price hike is expected to affect transportation and daily essentials. Transport charges for goods may rise, leading to higher prices of vegetables, fruits, milk, and other items. Bus, auto, and taxi fares may also increase.

READ MORE :Two Final-Year Engineering Students Drown in Bhadra Canal

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Earlier, fuel prices were reduced before the 2024 Lok Sabha elections. In 2022, the Centre had also cut excise duty to control inflation after the Covid pandemic.

 

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Gold Prices Rise in Mangaluru; Demand for Ornaments Remains Strong

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Mangaluru: Gold prices in the coastal city of Mangaluru have been reported at high levels today. The rate for 24 karat gold (99.9% purity) stands at Rs.14,962 per gram. The price for 22 karat gold (91.6% purity) is Rs.13,715 per gram. Meanwhile, 18 karat gold (75% purity) is being sold at Rs.11,222 per gram.

Mangaluru is well known for its deep cultural connection with gold. The city has a long tradition of buying and wearing gold ornaments. This tradition continues strongly even today.

Local jewellers say that demand for gold remains steady despite high prices. Many people still prefer to invest in gold for safety and long-term value. Gold is also an important part of weddings and festivals in the region.

Apart from its love for seafood, Mangaluru is also famous for its gold market. The gold trade in the city has a long history and continues to grow.

READ MORE :Mango Sheera Emerges as a Popular Summer Dessert

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Buyers are advised to check the latest rates before making a purchase. They can also use a gold rate calculator to get exact pricing based on weight and purity.

Experts say that gold prices may change depending on global market trends. Customers should stay updated and make careful decisions while buying gold.

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Pune FDA Seizes 3,800 Kg of Adulterated Mango Pulp in Major Crackdown

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In a major action against food adulteration, the Food and Drug Administration (FDA) in Pune has seized over 3,800 kilograms of mango pulp mixed with unsafe food colours.

The raid was carried out after officials received confidential information about illegal production activities in the district. Acting quickly, an FDA team traced the source to a manufacturing unit in Urse village in Maval taluka.

During the inspection, officers found that the mango pulp was being prepared using unauthorised food colours and other banned substances. These materials are not allowed under food safety rules and can be harmful to consumers.

The unit was reportedly operated by Mohammad Ekramul, also known as Akram Gulam. Authorities said the facility was violating multiple food safety regulations.

Officials immediately seized the adulterated stock and stopped further production at the site. The FDA has also begun investigating the supply chain to identify where the products were being distributed.

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Authorities warned that strict action will be taken against those involved in food adulteration. They also urged the public to stay cautious while buying food products, especially during the mango season.

Further investigation into the case is currently underway.

 

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