February, 2024 - Business News Week

business

Nium Secures In-Principal Approval from RBI for the Payment Aggregator Licence and the Prepaid Payment Instruments License

Feb 6, 2024 by Sujata 0 Comments

Nium Secures Hyderabad/Mumbai, 6th February 2024 – Nium, the leader in real-time global payments, proudly announces it has received in-principle approval from the Reserve Bank of India for two prestigious payment licenses – the Prepaid Payment Instrument (PPI) Licence and the Payment Aggregator (PA) Licence. The two licenses will allow the global payments company to offer and improve upon a variety of financial products in the country, from prepaid cards to merchant payment acquiring. Nium continues to expand its license portfolio to serve the needs of a rapidly evolving global payments landscape.

Nium has received in-principal approval from the Reserve bank of India for a Prepaid Payment Instrument (PPI) Licence in India, which will empower the global payments leader to issue prefunded, pre-loaded cards within India. These versatile prepaid cards can be designed for a variety of consumer and business applications, from employee spending to domestic wallets. Nium’s unique approach involves collaboration with strategic card partners, ensuring a seamless end-to-end experience for users.

In addition to the PPI License, Nium has been granted in-principle approval for a Payment Aggregator (PA) Licence, which will allow the company to provide merchant onboarding and acquiring services in the dynamic Indian market. This includes provisioning an online space for merchants, streamlining fund flow processes, and integrating cutting-edge technology into websites for smoother checkout experiences. This license will also enable Nium to connect to real-time payment offerings, such as India Unified Payments Interface (UPI). Nium is establishing itself as a true end-to-end acquiring solution provider.

“We’re honored to be among the few trusted by the RBI with these licenses and we look forward to helping India further its leadership in payments innovation,” said Anupam Pahuja, Executive Vice President and General Manager, Asia Pacific, Middle East, and Africa at Nium. “Nium prides itself on applying its expertise in global payments to advancing payments ecosystems around the world. These licenses make Nium a one-stop shop for all payment needs in India. For the end customer, Nium is making it seamless for Indians to shop the world.”

As Nium expands its footprint in India, the company aims to leverage these licenses to offer a wide array of services, fostering financial inclusion and empowering businesses with advanced payment solutions. These two new licenses, in addition to the 11 other licenses Nium holds, allow the company to offer seamless global (in addition to local) payments for both customers and merchants in India. As a part of Nium’s card issuance, the licenses will also ensure that Nium continues the issuance of pre-paid Forex cards for the Nium Forex brand.

business

What this budget meant for logistics Industry

Feb 5, 2024 by Sujata 0 Comments #Lobb Logistics, #Logistics, #logistics Industry, #Ms Nirmala Sitaraman, #PM Gati Shakti, #Venu Kondur

Bengaluru February 5, 2024– Finance Minister of India Ms Nirmala Sitaraman presented her annual but interim budget (due to ensuing elections) very recently. It had slew of offerings for logistics industry. The logistics sector has received a major push in the Interim Budget 2024 as the government plans to set up three major economic railway corridors to reduce congestion and logistics costs in India. Industry stakeholders welcomed the government’s plans but have highlighted that certain areas still require attention. Industry stakeholders welcomed the government’s plans but have highlighted that certain areas still require attention.

lobb truck png

The government said these projects have been identified under the PM Gati Shakti for enabling multi-modal connectivity. These commodity-specific economic rail corridors aim to address congestion issues in rail lines, particularly in the eastern region. These dedicated corridors will facilitate faster movement of freight and improve turnaround times, reducing logistics costs for India. Currently, logistics costs account for approximately 12% of India’s GDP, which hampers its competitiveness, particularly in the manufacturing sector, compared with competing countries. Industry stakeholders say that by reducing traffic on transportation routes and improving the efficiency of freight transportation, the county can increase its logistical competitiveness.

Venu Kondur

Giving his views on the budget Lobb Logistics Chief Executive Officer Venu Kondur said, “This will be an added boost to Tech led logistics businesses “All forms of infrastructure – digital, social, physical – are being built in record time”, he went on to say “the government must adopt economic policies that will sustain growth and contribute in powering investment and fulfil aspirations. The commitment of renewed assurance on logistics policy and connecting multi-model through technology is going to be key. Increasing road network for motorable roads is also an added fillip to us. The government will take up next generation reforms and build consensus with the states and stakeholders to ensure effective implementation, Policy priority to provide training for MSMEs to compete globally. The government promise to expand and strengthen the EV ecosystem by supporting manufacturing and charging infrastructure”.

business

VST Tillers Tractors Ltd Net profit surged by 65 Percent to Rs 86.39 Cr for the Nine months ended Dec 23

Feb 5, 2024 by Sujata 0 Comments #VST Tillers Tractors Limited (VST), #VST Tillers Tractors Ltd

Bengaluru, February’ 2024: VST Tillers Tractors Limited (VST), India’s leading farm equipment manufacturer, announced their Quarter 3 and Nine-month results for the financial year 2023-24.

For Nine months, VST has achieved a turnover of Rs 694.61 Crore compared to Rs 683.82 Crore during the corresponding period of the previous financial year, an increase of 1.60%. Earnings before interest, taxes, depreciation & amortization (EBIDTA) rose by 45% to Rs 134.5 Cr compared to Rs 92.4 Cr during the same nine-month period of the previous year. Net profit stood at Rs 86.39 crore for YTD Dec 23 compared to Rs.52.22 crore YTD Dec 22 with a growth of 65%.

For the quarter, VST reported a turnover of Rs. 169.96 crores. The company’s earnings before interest, taxes, depreciation & amortization (EBITDA) stood at Rs 27.70 crore for Quarter 3, which is 14.7 % of total revenue. In the previous year Q3, the EBITDA margin was 14.6%.

The company has also registered growth of 38% in the export of tractors for nine months of FY24. The joint venture entity, VST Zetor Pvt Ltd., between the company and HTC Investments a.s (owner of the brand “Zetor”) commenced operations in the quarter.

health

India MS Day Observed at Hotel Vivanta at Begumpet

Feb 4, 2024 by Sujata 0 Comments

Hyderabad, February 04, 2024……. India MS Day was observed in the city at Hotel Vivanta at Begumpet on Sunday. A book titled Unbreakable Spirit— Navigating Life with MS was launched to mark the occasion.

It is the first-ever book authored by non-MS professional Ms. Farida Raj, a remedial instructor turned author

The book was formally launched amidst the presence of 500 plus guests by Mr Durga Prasad, former DGP of CRPF and 9th head of the Asaf Jahi Dynasty of Nizams, Raunaq Yar Khan, Mrs Meena Gupta, Founder and Chairperson, Multiple Sclerosis Society of India and Dr Sudhir Kumar, Neurologist from Apollo Hospitals.

The objective of the book the author says is to make it known to the public that with the right diagnosis, timely treatment, care and support many people can lead long, active and healthy lives.

It is a book in English written for the benefit of a layman in an easy-to-read and follow format with the sole aim of creating awareness about the disease. It is priced at Rs 249/- and is available online on Amazon.

Farida Raj’s journey took an unexpected turn when she encountered individuals grappling with Multiple Sclerosis (MS). This encounter fuelled her passion for shedding light on this lesser-known disease. The book on MS, “UNBREAKABLE SPIRIT: NAVIGATING LIFE WITH MS,” Navigating Life with MS, stands as a testament to understanding the lives of those affected by the condition.

The book invites readers on an insightful journey into the world of living with Multiple Sclerosis. It delves into the intricacies of MS, from its fundamental aspects to its profound effects on different life stages and relationships. With chapters exploring the Basics of MS, its impact on youth, relationships, parenthood, and the challenges of Confronting fears, this book provides a holistic perspective on the physical, emotional, and psychological dimensions of MS.

Through heartfelt narratives and personal experiences, the author sheds light on the struggles and triumphs faced by those living with MS, as well as the crucial role of caregivers in this journey. As readers turn each page, they will uncover valuable insights, practical advice, and a sense of community that empowers individuals to navigate the challenges of MS. The book not only fosters understanding but also offers guidance on building a supportive and empathetic network that extends beyond the confines of the condition.

“UNBREAKABLE SPIRIT stands as a beacon of hope for individuals with MS, their loved ones, and anyone seeking a deeper comprehension of the human spirit’s resilience in the face of adversity. It is a testament to the power of knowledge, compassion, and unity in overcoming the challenges posed by a complex condition, ultimately illuminating a path towards a richer, more connected life.

Farida, the author, is a woman of many facets. She has silently done a lot of impactful work for society.

Farida serves as an executive committee member of the Multiple Sclerosis Society of India- Hyderabad chapter (MSSI). This non-profit organisation works for the welfare of people affected by Multiple Sclerosis and is affiliated with MSIF (Multiple Sclerosis International Federation).

Multiple sclerosis (MS) is a chronic neurological disorder that affects the Central Nervous System [CNS]. It is a potentially disabling disease that is creating havoc in the lives of many families, informed Dr. Sudhir participating in a panel discussion that was organised before the launch of the book. The panel discussion was moderated by Hari Mohan, a first-class cricketer, and former Ranji Cricket Player.

MS—Multiple Sclerosis patients no longer need to be called so, I call MS Patients Most Special patients, said Dr Sudhir Kumar, a renowned Neurologist currently working in Apollo Hospitals said. Speaking about the book, Dr Sudhir said, this book has so many things which many doctors are not aware of nor any neurological books talk about. The treatment goes beyond medication. And those things which go beyond treatment are found in this book he said.

Meena Gupta said MS patients are not covered under Insurance. So the theme for this year’s MS Day was #InsureMyMS. She sought support for MS patients in getting disability certificates from the government without much hassle.

A video film was screened to sensitise people about MS at the beginning of the program

Though its prevalence was higher in the West, now there is a rise in these cases in India. Eight to nine people per one lakh population is estimated to be suffering from MS. India has a disease burden of roughly 2.5 lakh. The number is estimated to be higher than stated, as not many people are diagnosed due to the lack of awareness. Manish Sisodia’s wife is a well-known case of multiple sclerosis currently. The Telugu states have around 200 MS patients registered with the MS Society of Hyderabad.

MS is an auto-immune disease. The awareness about this condition is inferior to the public. What many don’t know is that with the right diagnosis, timely treatment, care and support many people can lead long, active and healthy lives.

Farida Raj, a Mumbaikar relocated to Hyderabad (after marriage with Vijay Mohan Raj, a Ranji Cricketer and contemporary of Kapil Dev) and made Hyderabad her home for the past 41 years.

Farida has done a lot of work in the area of Specific Learning Difficulties (SLDs). In the past, she authored three insightful books, BREAKING THROUGH, UNDERSTANDING LEARNING DIFFICULTIES and STRUGGLING MINDS, on the subject, aiming to empower both teachers and parents in supporting their children’s learning journeys. She has contributed extensively to the B.Ed Special conducted by IGNOU and RCI.

Noticing a gap in information for women who primarily read Urdu, Farida turned her attention to the reproductive and mental health of women. She penned articles and authored three books in the Urdu language, HAMARI SEHAT KI ZAMIN, ZAVIYE ZINDAGI KE and IZTRAB- e- ZINDAGI, addressing crucial aspects of women’s well-being.

news

City’s Creative Media School, IACG Multimedia College, bags global recognition — as the “Rookies Certified School”

Feb 3, 2024 by Sujata 0 Comments #Creative Media School, #IACG Multimedia College, #Rama Krishna Polina, #Rookies Certified School

Hyderabad, February 03, 2024…. IACG Multimedia College (International Academy of Computer Graphics), receives The Rookies Certified School Certification is a quality benchmark that identifies the schools that are best suited to prepare artists for a career in the Creative Industries.

The Certification shows that IACG Multimedia College is among the world’s finest, Rama Krishna Polina, Founder & Managing Director of IACG informed addressing a press conference on Saturday.

Rama Krishna Polina, Founder & Managing Director of IACG Multimedia College seen talking to the media--2

It is the only Indian Institute out of over 4000 education institutions and academies in Media and Entertainment space to have received Rookies Accreditation – informed Rama Krishna Polina, Founder & Managing Director of IACG Multimedia addressing a press conference at its posh 45000 sq. ft. campus in the heart of the city in Jubilee Hills.

With this coveted recognition IACG Multimedia College’s Visual Effects, 2D Animation, 3D Animation and Game Art & Design programs are acknowledged as a Rookies Certified School.

Based in Australia, The Rookies is a highly respected resource. Getting certified by The Rookies is a stamp of prestige for any school. It shows that the school is among the world’s finest in delivering quality education for its students.

This accreditation is awarded to the very best schools that provide the most up-to-date and relevant training and education for students aspiring to work in creative media industries.

IACG is the city’s 22 years pioneering Multimedia Institution and a name to reckon with for Gaming, Animation, VFX and Art & Design education as well as a production house that worked for many movies of great success and the director known the world over receives global recognition as

IACG is Asia’s first Academic Partner of UNREAL ENGINE, the world’s most advanced real-time 3D creation tool.

IACG’s students recently got the recognition of COMIC CON INDIA for the character Khonshu. COMIC CON INDIA for the character Khonshu as the Best Cosplay Artist in the MOVIES & TV Category and the INDIAN CHAMPIONSHIP of COSPLAY 2024 HYDERABAD in the VFX Category

IACG Multimedia College offers an array of comprehensive full-time graduation and postgraduate programs. These programs cater to various specializations including Gaming, Animation, VFX, and Art & Design

Recognizing the need for foundational education in multimedia and computer science, IACG has recently introduced Intermediate courses in CGA (Computer Graphics & Animation) and CS (Computer Science) for students who have completed their 10th standard. These programs are aimed at providing students with early exposure to career options in these fields, equipping them with the necessary knowledge and skills to pursue advanced studies in multimedia and computer science.

IACG expanded its educational offerings to include 1-year and 2-year Diploma courses.

Rama Krishna Polina, Founder & Managing Director of IACG Multimedia College seen talking to the media

The role of computer graphics in today’s life has become very important as computer graphics are viewed as the intersection of design and computer science, to delight and engage audiences.

Computer graphics today is a core technology in many areas such as digital photography, film, video games, digital art, mobile phones and computer displays, and many specialized applications.

We have seen the impact of Computer-generated imagery (CGI), in the success of many recent movies Avatar, Bahubali, RRR, Eega, and Hanu-Man, which opened doors to storytelling possibilities previously considered impossible. CGI effects enable filmmakers to create breathtaking fantasy worlds, fantastical creatures, and mind-bending visual effects. CGI has enriched cinematic experiences, expanded the boundaries of imagination and contributed to the box office success of many movies. Today movies without make-to-believe real-life CGI, films are not doing too well.

Computer Generated Images were prevalent in movies for many years. But, movies like Avatar, Baahubali, and RRR and their success made people recognize their importance. However, extensive use is reaching its peak now. Hence there is a lot of demand for trained professionals. And IACG stands as numerous uno and is among the best in the world.

business

EKA Mobility unveils EKA K1.5, India’s first 1.5-tonne electric LCV range

Feb 3, 2024 by Sujata 0 Comments

Dr. Sudhir Mehta, Hyderabad/New Delhi, Friday, 3 February 2024 — EKA, a leading player in the electric mobility sector with Mitsui Co., Ltd. (Japan) & VDL Groep (Netherlands) as equity partners, is set to revolutionize the commercial vehicle landscape with the launch of their highly anticipated 1.5 tonne electric Light Commercial Vehicles (LCVs). The grand unveiling took place at the prestigious Bharat Mobility Global Expo, where EKA Mobility showcased its commitment to sustainable and profitable transportation solutions.

EKA Mobility’s 1.5-tonne electric LCVs are designed to meet the evolving needs of the modern logistics and transportation industry. With a focus on environment-conscious mobility, these electric LCVs promise to deliver exceptional performance, reduced operational costs, and a lower environmental footprint. The company also showcased its 9-meter electric bus, EKA 9 Staff Bus, India’s most advanced electric bus, designed and manufactured completely in India, at the expo.

Speaking at the launch, Dr. Sudhir Mehta, Founder & Chairman of EKA Mobility highlighted, “Our electric LCVs represent a significant step forward in the evolution of commercial transportation globally. We are confident that these vehicles will not only meet the demands of the industry but will also set new standards for sustainability and performance. Our vision is to become a global volume leader in Commercial Electric Vehicles. We have the strongest IP creation in the Indian EV industry, best-in-class Total Cost of Operation (TCO) offering, and completely indigenous and industry-leading software. We are proud to be the only EV company to have two leading global conglomerates as our partners, and we look forward to changing the commercial mobility landscape with sustainable and profitable solutions.”

EKA’s electric LCVs are designed for a wide range of applications, showcasing EKA Mobility’s commitment to versatility. The vehicles can be customized for various purposes, making them ideal for last-mile delivery, e-commerce logistics, temperature-sensitive shipments, and more. EKA K1.5 range is built on 300 volts electrical system architecture offering the highest ever peak power of 60kW in the industry, with best-in-class vehicle performance. The vehicle and battery have a best-in-class warranty for worry-free usage. The company is currently offering EKA K1.5 in the following applications, with load body customizations suiting customer requirements:

Aluminium Container Body
Side Open Aluminium Container Body
Ms. Container Body
Open Top Container Body / Raised Load Body
Half Load Body for Market Loads
Eutectic Container for Cold Chain Applications
Insulated Box Container Body
Garbage Collector Body

One of EKA Mobility’s standout features is its emphasis on indigenous software development. Unlike many competitors that rely on third-party solutions or central databases hosted elsewhere, EKA has invested significantly in creating its software ecosystem tailored to the unique needs of the vehicles and customers. This not only allows for greater customization and optimization but also ensures a higher level of security and reliability. The proprietary software not only powers the vehicles but also enables seamless connectivity, providing users with advanced features and a futuristic driving experience.

At the expo, the company is displaying its delivery van application for efficient and environmentally friendly urban logistics, and its innovative eutectic van showcasing EKA Mobility’s dedication to exploring advanced technologies and solutions for temperature-sensitive cargo transportation. Earlier this year, EKA announced a partnership with Mitsui & Co., Ltd. (Japan) and VDL Groep (Netherlands) with a joint investment of over USD 100 million (~ INR 850 crores) in phases, to position India as the global manufacturing & sourcing hub for electric vehicles. Recently, the company also announced its collaboration with GreenCell Mobility to supply them with 1000 intercity electric buses in 12-meter and 13.5-meter categories, in the next few years.

EKA Mobility is one of the commercial vehicle manufacturers approved under the Champion OEM Scheme & EV component manufacturing scheme of the Government of India’s Auto PLI policy. EKA is one of the only Indian companies offering end-to-end design, manufacturing & technology of electric new energy commercial vehicles from scratch in India. The company has set up a state-of-the-art research, development, engineering & innovation center in Pune, Maharashtra, and has significantly grown its order book, with more than 700 electric buses and 5000+ electric light commercial vehicle orders in the pipeline. All these vehicles will be completely designed & manufactured in India, at EKA’s proposed & existing state-of-the-art manufacturing facilities in Madhya Pradesh and Maharashtra.

business

St. Louis Area Diaper Bank Hosts Fourth Annual Bloody Mary Brunch

Feb 3, 2024 by Neel Achary 0 Comments

Fundraiser to support the nonprofit’s period supply program.

(St. Louis, Mo., Feb. 3, 2024) — The St. Louis Area Diaper Bank will hold its fourth annual Bloody Mary Brunch on Sun., March 24 from 11 a.m. to 2 p.m. at its headquarters located at 6141 Etzel Ave. The event, open to those 21 years of age and older, will feature a Bloody Mary and mimosa bar plus light brunch. Tickets are $60 per person, and all monetary donations will support the Diaper Bank’s period supply program, which helps nearly 35,000 girls and women annually with period kits.

2024 Bloody Mary Brunch

Attendees will have the interactive opportunity to count, sort, and pack period supply kits for local school partners. Other activities include raffles, a glitterati photo station, and a brief presentation about the agency’s efforts to end period poverty in St. Louis.

The period supply program distributes period supplies through community partners and advocates for the elimination of “period poverty”. In 2024, 900,000 period supplies will be distributed in St. Louis, with 20,000 period supplies allocated each week. Two-thirds of low-income women in St. Louis cannot afford menstrual hygiene products, with 46% of low-income women having to choose between food and period supplies.

The St. Louis Area Diaper Bank, founded in 2014, provides diaper and period supply access to the region’s low-income families and raises community awareness about the causes and consequences of diaper need and period poverty. The nonprofit is a member of the National Diaper Bank Network and its sister organization Alliance for Period Supplies, a nationwide nonprofit dedicated to eliminating diaper need and “period poverty” in America. The period supply program ensures access to menstrual hygiene products, which allows full participation in daily life with dignity.

For more information about the Bloody Mary Brunch or to donate, call (314) 624-0888 or visit their website.

business

78th National Garment Fair by CMAI Sets tone for Apparel Industry Outlook in FY25

Feb 2, 2024 by Sujata 0 Comments #78th National Garment Fair, #Apparel Industry Outlook in FY25, #CMAI, #Indian Apparel Industry, #National Garment Fair 2024 (NGF 2024), #Rahul Mehta, #Rajesh Masand, #Rohit Munjal

Mumbai, February 2, 2024: The National Garment Fair (NGF 2024) Spring-Summer Edit, organised by the Clothing Manufacturers Association of India (CMAI) in Mumbai, unfolded over three days from January 29 to 31, 2024. The event drew an impressive crowd of close to 18,000 visitors including national and regional retailers, distributors, and wholesalers. The robust business activities and bookings recorded during NGF 2024 clearly mirror the positive momentum in retail sales anticipated for the upcoming Spring-Summer season.

AJS_ 1

Encompassing an expansive 700,000 sq. ft. across seven halls, the Spring-Summer Edit of the National Garment Fair 2024 (NGF 2024) took place at the Bombay Exhibition NESCO Complex in Goregaon East. With over 1025 participants showcasing more than 1,120 brands across Women’s wear, Men’s wear, Kids wear, and Accessories.

Speaking about the domestic garment industry, Mr. Rajesh Masand, President, Clothing Manufacturers Association of India (CMAI), said, “The revival of the apparel industry post-pandemic has been less than robust, with retailers contending with a substantial backlog of inventory. The predominant driver of retail sales growth of apparels in the past year has been the result of both stores and network expansions. Although it is difficult to estimate the business conducted during the Fair, our interaction with the Exhibitors indicated most of them were more than satisfied with the enquires/orders received, serving as a positive indicator of the industry’s gradual progress towards normalisation in H1FY2025.”

Speaking about the NGF 2023, Mr. Rohit Munjal, Vice President and Chairman of the Fair Committee, Clothing Manufacturers Association of India (CMAI) said, “The success of the 78th National Garment Fair stands as a promising indication of its significance. Distinguished retailers and distributors from across the country graced NGF 2024. The sustained vitality of NGF can be credited to the steadfast support and proactive engagement of both brands and retailers. Their persistent involvement has played a pivotal role in elevating the fair’s influence and ensuring its ongoing success.”

Speaking about the present outlook of the domestic garment industry, Mr. Rahul Mehta, Chief Mentor, Clothing Manufacturers Association of India (CMAI), said, “The notable expansion of major retailers and brands into Tier 2 and 3 markets in the past year has played a substantial role in driving the retail sales growth within the apparel segment. Anticipating a shift from the initial trend of consumer “revenge-shopping” immediately post-pandemic, we saw a transition to a restrained shopping behavior last year. This year, there is an anticipation of consumers refreshing their wardrobes, signaling a return to normalcy in shopping patterns.”

Furthermore, the prestigious CMAI Apparel magazine was relaunched during NGF 2024 with a far Special edition. The Apparel magazine is not only resuming publication but is undergoing a significant upgrade as a quarterly edition, which will provide more exclusive content, in-depth features, and exciting apparel trends. The new avatar of the magazine boasts of careful curation and enhancement of content, promising a better reading experience with fresh perspectives from industry experts, insightful interviews, and stunning visuals. This transition aims to celebrate the world of apparel with captivating stories.

Recognised as the largest and most awaited bi-annual trade fair of the Indian Apparel Industry, the National Garment Fair by CMAI serves as a vital platform for connecting National and Regional Brands, Manufacturers, Designers, and Fashion Accessories manufacturers with Retailers, Agents, Distributors, and E-commerce Companies. This biannual event holds significant prestige in the industry and is widely regarded as India’s foremost trade fair, offering a comprehensive sourcing platform that maximizes both time and cost efficiency for all stakeholders involved.

business

Reaction to Interim Budget 2024-25 from Kamal Khetan, Chairman & Managing Director, Sunteck Realty Ltd

Feb 2, 2024 by Sujata 0 Comments #Kamal Khetan, #PMAY-Gramin, #Sunteck Realty Ltd

Copy of Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd.

“The interim budget announcement envisions India’s long term growth story. The emphasis of the PMAY-Gramin on rural India will further the objective of Housing for all. Furthermore, we are looking forward to housing scheme for the urban middle class, which is anticipated to enhance housing and give a boost to the sector.

The sustained momentum in capital expenditure spending in expansion of the infrastructure development plan highlights the intent to continuously enhance housing infrastructure, entrepreneurship, and employment opportunities for the youth possessing technical skills.

The persistent emphasis on maintaining a capital expenditure outlay of approximately 3.4% of the GDP is likely to stimulate economic activity and align with the long-term vision of Viksit Bharat. We remain optimistic about the continued progress of the Indian economy under the prudent fiscal measures outlined in the Interim Union Budget.”

Archive: February 6, 2024