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Delhi government To Hold Business Blasters Investment Summit and Expo Today

Pooja YadavMarch 5, 20220

Delhi government is going to hold Business Blasters Investment Summit and Expo on March 5 with the aim of providing an even bigger platform to young entrepreneurs. It will be held at the Thyagaraj Stadium. “Business Blasters project is a practical component of the EMC curriculum for Classes 11 and 12, where students are given seed money (Rs. 2000 each) to build on an idea that generates profit, or solves a social problem,” said the statement on the official website. Over 100 business ideas by student entrepreneurs will be selected and showcased. This will provide a chance to varied investors to directly invest in a project of their choice. A total of 51,000 ideas were submitted for this event. "Out of these 1,000 ideas, over 100 student-led top business ideas have been selected. W...

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Ukraine Crisis: ExxonMobil Announces To Stop Sakhalin-1 Project In Russia

Sonia SolankiMarch 2, 20220

Amid the Ukraine-Russia war, ExxonMobil becomes the latest oil company to announce its discontinuation in Russia. Before ExxonMobil, British Petroleum (BP) and Shell had declared to end their association with Russia in the wake of its invasion of Ukraine. In the official statement, ExxonMobil said, "ExxonMobil supports the people of Ukraine as they seek to defend their freedom and determine their own future." "In response to the recent events, we are beginning the process to discontinue operations and developing steps to exit the Sakhalin-1 venture," the statement added. ExxonMobil And Other Oil Companies In Russia ExxonMobil is working on three oil and gas fields near the eastern Russian island of Sakhalin in partnership with Rosneft, a state-controlled energy company. ExxonMobil...

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Centre Bans 54 More Chinese Apps Security Grounds; Check Out Details

Sonia SolankiFebruary 15, 20220

The Union information technology ministry (MeitY) has banned 54 Chinese apps pertaining to data abuse and security issues. The occlusion takes place under Section 69a of the MeitY. This is not the first time that such action has been taken by the Indian Government. In the past, the government had banned many Chinese apps including some big names like TikTok, PUBG, UCBrowser, WeChat, CamScanner and many more. With the latest additions of more apps now the number of banned apps rises to 324. The new occluded apps lie in the categories of beauty, music, dating and gaming ones. The action is taken after a report by the Home Ministry which recommends the action pertaining to privacy and security issues. Details Of The Apps Which Are Occluded "These 54 apps allegedly obtains vari...

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Ford Motors Mulls Discontinuing; Exploring Possibilities As EV Manufacturer In India

Pooja YadavFebruary 13, 20220

Ford Motors has recently decided to quit the Indian market due to some taxation and low sales issues. It has now decided to take a U-turn and return to India with the PLI scheme. When Ford decided to leave, it shook the market as its presence is felt all over the world economy. Ford will enter the market under the government's PLI scheme. What Has Happened? Ford declared on February 11 it is considering its production of electric vehicles in India for exports and probably for local sale. It came just a month after the American automaker announced its decision of discontinuing its selling and manufacturing in the country. It was said that in September 2021 the decision was under consideration and taken back as the company could not see any future profits. Ford's Take Accord...

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‘Biggest Scam In Independent To Date’: Rahul Gandhi Slams BJP Over ABG Shipyard Bank Fraud; Opposition Takes A Jibe

Sonia SolankiFebruary 13, 20220

The Central Bureau of Investigation (CBI) files a case against the ABG Shipyard for conning 28 banks for the astronomical amount of Rs 22,842 crore. The ABG Shipyard Ltd is the flagship company of the ABG Group and is located in Dahej and Surat, Gujarat. The ABG Group is associated with shipbuilding and ship repair. The FIR was filed against ABG Shipyard and its then chairman Rishi Kamlesh Agarwal, executive director Santhanam Muthaswamy and directors Ashwini Kumar, Sushil Kumar and Ravi Vimal Nevetia. The case is filed under the IPC and the Prevention of Corruption Act by the CBI. FIR also mentions another company ABG International Pvt. Ltd. The complaint by the CBI includes 28 banks including popular ones like ICICI, SBI, IDBI, BOB, PNB and others. The State Bank of India fi...

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Center Rejects Tesla’s Request To Relax Import Tax Regime; Read To Know More!

Pooja YadavFebruary 8, 20220

The Centre has rejected Elon Musk's claims on the "challenges" that the billionaire said his company Tesla is facing while working with the Indian government to urge its cars to be launched within the country. Sources told Business Today that Musk is trying to place pressure on the government. Through social media, Tesla wants the country to cut back import duties on its cars without committing to provide within the country. The Centre has once more turned down the demand for tax cuts to import electrical cars, said rules already permit conveyance in partially-built vehicles and collecting them domestically at a lower levy. Indian government levies a 60% import tax on electric vehicles priced at $40,000 or less, and 100% on those priced above $40,000. Tesla cars start at $44,690 (...

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Meta Crashdown: What Led To A First-Ever $230 Billion Dip In Its 18-Year History?

Snehashish RoyFebruary 4, 20220

The world of the metaverse is seen to be crumbling down. The formerly known Facebook, now Meta, has suffered an ever-high 26% dip in its stocks. Its market value now plummeted by more than $230 billion. As a result, the chief executive Mark Zuckerberg has now been pushed out of the tantalizing top 10 list of the world's richest. The sudden dip in its market value is seen following a dismissal earnings report laid out by a company spokesperson. Zuckerberg said the company is experiencing a tricky transition from being one of the dominant social media platforms to the ultra-modern metaverse. Largely, the primary reason for this setback is attributed to losing over half a million users from its core social networking application, Facebook. However, other reasons are responsible f...

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Reduce Income Tax Or Not: The Conundrum Explained

Pooja YadavFebruary 3, 20220

BJP leader Subramanian Swamy has recently talked about abolishing the income tax. He shared his opinion during an interview with India Today. Also, Union finance minister Nirmala Sitharaman from the podium of parliament recognised the efforts of middle-class salaried people and their constant efforts. Through this article let's have a look into this crucial topic, should income tax be abolished and also discuss those countries where either income tax is abolished or have a minimum slab rate. Income Tax Payers Despite actively participating in India's GDP, the current Union budget has disappointed the taxpayers. However, if we go by the percentage, only 1-2% are covered by income tax. It suggests how important taxpayers are to the government's treasury. Many economists consid...

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Union Budget 2022: Opposition Terms It As ‘Unrealistic’; Provides No Relief For Poor, Middle Class

Snehashish RoyFebruary 2, 20220

Finance minister Nirmala Sitharaman gave the budgetary speech on February 1. She presented a Rs 39.45 lakh crore budget, in which, the major part was allocated to the highways and affordable housing section. However, the Congress party termed the budget as "uninspiring" and "insipid." The Opposition said the Union budget does not propose to provide relief and consumption boost among the salaried class, poor, farmers, and middle class. The communication head of the Congress party Randeep Surjewala said the ones who suffered pay cuts during the pandemic were hoping for relief in this budget. “The Finance Minister and the Prime Minister have again deeply disappointed them with indirect tax measures. This is a betrayal of India’s salaried class and the middle class,” he said. He fu...

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Crypto Tax First Step To Legalize Digital Currency In India: Details Inside

Sonia SolankiFebruary 2, 20220

Crypto tax or digital assets will be taxed at 30%, as announced by Union finance minister Nirmala Sitharaman. This will be the highest tax band in the country. "I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except the cost of acquisition," Sitharaman said. She also said that currency lies with RBI only, other than that is a crypto asset and will see 30% tax. Cryptocurrencies will be treated as digital assets. U-turn On Banning Cryptocurrency At the end of last year, there were strong rumours that the Indian government is planning to ban all cryptocurrencies. But presenting a digital asset tax of 30% s...

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Union Budget 2022: FM Sitharaman Announces Digital Rupee; Know More About Virtual Currency

Snehashish RoyFebruary 1, 20220

The Union finance minister Nirmala Sitharaman has launched the Digital Rupee in her budgetary speech in the Parliament on February 1. This rupee, the Central Bank Digital Currency (CBDC) will be used from 2022-22 onwards. During her fourth budgetary speech, Sitharaman said the use of digital currency will give a boost to the country's economy. The currency will be introduced by the Reserve Bank of India (RBI). This move will give a further push to the Centre's Digital India initiative. "The introduction of central bank digital currency will give a big boost to the digital economy. Digital currency will also be a cheaper and more efficient currency management system...It is therefore proposed to introduce digital rupee - using blockchain and other technologies - to be issued by ...

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India’s Largest Electric Vehicle Charging Station With 100 Points Opens In Gurugram

Sonia SolankiJanuary 31, 20220

India has launched the biggest and largest Electric Vehicle (EV) charging station in Gurugram, Haryana. This electric charging station boasts 100 electric charging points for four-wheelers. The station is located on the Delhi-Jaipur National Highway in Gurugram. The tech piloting firm called Alektrify Private Limited is behind the development of this station. During the opening ceremony programme, various government representatives had a guided tour of the station. India gets largest EV charging station in Gurugram Abhijeet Sinha, the national programme director of the Ease of Doing Business programme and project director of National Highway for Electric Vehicle in additional charge said, "India is on the verge of making an investment in E-mobility charging infra setup highly c...

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