Business
General Budget: FDI Limit for the Insurance Sector Increased from 74% to 100%
During her address, she announced an increase in the Foreign Direct Investment (FDI) limit for the insurance sector from 74% to 100%. This new limit will apply to companies that invest their entire premium within India. The existing regulations and conditions related to foreign investment will be reviewed for simplification.
Mrs. Sitharaman also stated that a forum dedicated to regulatory coordination and the development of pension products will be established.
To fulfill the commitment of streamlining the Know Your Customer (KYC) process, she announced the introduction of a revamped Central KYC Registry, slated for rollout in 2025, along with a more efficient system for periodic updates.
Furthermore, she indicated plans to rationalize the requirements and procedures for expediting company mergers. The scope for fast-track mergers will be expanded, and the overall process simplified.
To foster sustained foreign investment while adhering to the principle of ‘first develop India,’ the current model BIT will be revised to be more investor-friendly, the minister added.
Business
Pune FDA Seizes 3,800 Kg of Adulterated Mango Pulp in Major Crackdown
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.
READ MORE:98-Year-Old Nani Turns Entrepreneur, Inspires Millions With Gujarati Snacks
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.
Business
98-Year-Old Nani Turns Entrepreneur, Inspires Millions With Gujarati Snacks
Ahmedabad: In an inspiring story of resilience and passion, 98-year-old Prabhavati Bhagwati from Ahmedabad has become a viral sensation for her small food business. She began selling traditional Gujarati snacks at the age of 91, proving that age is no barrier to pursuing one’s passion.
Prabhavati Bhagwati was born in 1927 and lived a happy life with her husband, Praful Bhagwati. The couple shared 68 years of marriage. However, her life changed in 2017 after her husband passed away. With her children living separately and her grandchildren grown up, she found herself alone at home.
Cooking had always been her way of expressing love. After her husband’s death, her kitchen felt empty and quiet. Instead of giving up, she decided to turn her passion into a purpose. At the age of 91, she started preparing and selling homemade Gujarati snacks.
Her food quickly gained popularity among locals. People admired not only the taste of her dishes but also her dedication and spirit. Today, at 98, she continues her work with the same energy and enthusiasm.
READ MORE :Drunk Driver Rams Car into Procession, 7-Year-Old Girl Killed
Prabhavati’s journey has inspired many across the country. Her story is widely shared on social media, where people praise her determination and positive attitude. She has become a symbol of strength, showing that it is never too late to start something new.
Her life sends a powerful message: passion and purpose can give new meaning to life at any age.
Business
Tomato Prices Crash from Rs.1200 to Rs.80, Farmers in Distress
Business: Tomato prices in Vijayanagara district have dropped sharply, causing heavy losses to farmers and traders. A box of tomatoes that was earlier sold for Rs.1000 to Rs.1200 is now being sold for just Rs.80 to Rs.100.
Due to the sudden fall in prices, farmers are struggling to recover their investment. Many had taken loans to grow the crop and are now facing financial difficulties.
In local markets, traders are selling tomatoes at very low rates. Around 2 to 4 kilograms of tomatoes are being sold for just Rs.20.
The price crash has been linked to multiple reasons. Export of tomatoes to other countries has reduced due to the Iran–Israel conflict. In addition, many hotels are not operating properly due to a shortage of cooking gas cylinders. This has reduced demand for tomatoes.
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As a result, both farmers and sellers are facing serious losses, and the situation has become very difficult for them.
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