Connect with us

Businesses

Union Budget: PM Modi to meet prominent economists today

Published

on

Union Budget: PM Modi to meet prominent economists today

New Delhi, July 11 (IANS) Prime Minister Narendra Modi will on Thursday hold a meeting with leading economists to discuss the Union Budget 2024-25.

The budget will be presented by Finance Minister Nirmala Sitharaman in Parliament on July 23. The Budget Session will start on July 22 and conclude on August 12.

Economists, industry experts and Niti Aayog Vice Chairman Suman Bery will discuss the fiscal situation and strategies, and also present views and recommendations to the Prime Minister at the meeting, according to sources.

This will be the first Budget of the Modi-led government in its third term at the Centre.

PM Modi returned to the national capital on Thursday morning after concluding his two-nation visit to Russia and Austria.

Last month during her address to a joint session of Parliament, President Droupadi Murmu indicated that the government would come out with historic steps to accelerate the pace of reforms.

Finance Minister Nirmala Sitharaman has held discussions with various stakeholders, including economists and captains of industry on the forthcoming Budget.

ALSO READ:  Apple working on own AI chips for data centres: Report

–IANS

dpb/

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Businesses

Uzbekistan proposes development of new types of tourism

Published

on

By

Uzbekistan proposes development of new types of tourism

Uzbekistan proposes development of new types of tourism

Tashkent, July 30 (IANS) The Agency for Strategic Reforms under the President of the Republic of Uzbekistan in cooperation with the State Committee for Tourism, has prepared a draft resolution on the development of tourism in Uzbekistan, the agency press service reported.

According to the document, by 2025, new types of tourism can be developed in Uzbekistan, Xinhua news agency reported.

Geological tourism will offer visitors tours of mines and inactive geological and industrial sites. Industrial and scientific tourism will include visits to the production areas of mining and metallurgical complexes.

In addition, tourists interested in military themes will have the opportunity to visit military training grounds. They will also be provided with paid services for shooting in military zones.

“The successful implementation of the proposed changes, including the creation of new tourist routes, the introduction of modern information and navigation systems, and the improvement of infrastructure will contribute to increasing the flow of tourists to our country and developing its economy,” the statement said.

ALSO READ:  Nifty’s momentum remains bullish, say analysts

–IANS

int/rs/svn

Continue Reading

Businesses

India warehousing space demand skyrockets amid robust manufacturing: Report

Published

on

By

India warehousing space demand skyrockets amid robust manufacturing: Report

India warehousing space demand skyrockets amid robust manufacturing: Report

Mumbai, July 30 (IANS) Amid growing demand from the manufacturing sector, warehouse transactions across eight primary markets in India were recorded at 23 million square feet in the first half this year, a report showed on Tuesday.

Almost 55 per cent of these transactions occurred in ‘Grade A’ spaces, led by Mumbai which accounted for 20 per cent of the total warehousing volume, according to the report by Knight Frank India.

“Demand from the manufacturing sector has compensated for the lull in e-commerce and helped broad base the market’s occupier profile,” said Shishir Baijal, Chairman and Managing Director, Knight Frank India.

While the availability of viable land for warehousing development remains a challenge, high institutional interest in this space should enable development of high-quality supply, he added.

Delhi-NCR was the second most prolific market, representing 17 per cent of the total warehousing area transacted during the period, with third-party logistics and manufacturing sectors driving volumes.

ALSO READ:  Nifty’s momentum remains bullish, say analysts

Pune was the most expensive warehousing rental market, with average rent at Rs 26 per sq ft a month.

It was followed by Kolkata with a rental rate of Rs 23.8 per sq ft monthly and Mumbai at Rs 23.6 per sq ft a month.

Pune and Chennai showcased a 4 per cent increment in rentals, followed by NCR and Kolkata at 3 per cent YoY growth, said the report.

“India’s robust fiscal position and resilient economy are well-positioned to sustain and enhance the warehousing market’s stability and growth potential for the remainder of fiscal year 2024,” said Baijal.

The country has benefited from the sustained move towards decentralisation of manufacturing capacity with global manufacturing giants such as Apple, Samsung, Foxconn and TSMC expanding their manufacturing base in the country.

–IANS

na/svn

Continue Reading

Businesses

India-made telecom equipment now being exported to more than 100 nations

Published

on

By

India-made telecom equipment now being exported to more than 100 nations

India-made telecom equipment now being exported to more than 100 nations

New Delhi, July 30 (IANS) Designed and manufactured in India, telecom equipment are now being exported to over 100 countries, the Centre has informed.

Last year, the country exported telecom equipment and services worth more than $18.2 billion.

“Many of our homegrown telecom companies have made their mark in Western nations, including the US, despite fierce global competition,” said Madhu Arora, Member (Technology), Digital Communications Commission, Department of Telecom.

“The Indian Army has recently integrated its first indigenous chip-based 4G mobile base station, developed by our own R&D firms,” she informed.

Addressing the ‘Defence Sector ICT Conclave’ in the national capital where 18 companies showcased their products, Arora said Information and communications technology (ICT) forms the backbone of defence operations.

“India’s vibrant ICT sector, marked by innovation and integrity, has established a significant presence over the past decades. The Indian ICT industry is providing solutions to the world, showcasing India’s leadership in this domain,” the senior official remarked.

ALSO READ:  Startup Mahakumbh is reflective of India's growth story: Piyush Goyal

Abhishek Singh, Joint Secretary in the Ministry of External Affairs, said the MEA is actively working to enhance cooperation with Africa in the ICT sector.

“By focusing on emerging technologies like AI and blockchain, we aim to address specific challenges faced by African countries,” he noted.

India has emerged as one of the top five investors in Africa, with cumulative investments of around $75 billion.

Several Indian companies have been instrumental in driving digital transformation across the continent.

According to Sandeep Aggarwal, Immediate Past Chairman, Telecom Equipment & Services Export Promotion Council (TEPC), ICT is critical for maintaining the sovereignty and integrity of India.

India, with its long-standing cooperation and respect for African sovereignty, is a reliable partner in this field.

“Our expertise in data analytics and artificial intelligence empowers our defence forces with predictive insights and actionable intelligence, enhancing decision-making and operational effectiveness in the front,” Aggarwal mentioned.

–IANS

na/uk

ALSO READ:  India’s policies to empower women take centre stage at G20 meet

Continue Reading

Businesses

Took responsible approach to train our AI models: Apple

Published

on

By

Took responsible approach to train our AI models: Apple

Took responsible approach to train our AI models: Apple

San Francisco, July 30 (IANS) Tech giant Apple has responded to certain allegations regarding its AI models, saying it takes precautions at every stage — including design, model training, feature development, and quality evaluation — to identify how its AI tools may be misused or lead to potential harm.

The company said in a technical paper that it will continuously and proactively “improve our AI tools with the help of user feedback”.

It last month revealed Apple Intelligence that will offer several generative AI features in iOS, macOS and iPadOS software over the next few months.

“The pre-training data set consists of… data we have licensed from publishers, curated publicly available or open-sourced datasets and publicly available information crawled by our web crawler, Applebot,” Apple wrote.

Given our focus on protecting user privacy, we note that no private Apple user data is included in the data mixture, the company added.

According to the technical paper, training data for the Apple Foundation Models (AFM) was sourced in a “responsible” way.

ALSO READ:  India's IPO tally hit a six-year high in 2023

Apple Intelligence is designed with the company’s core values at every step and built on a foundation of industry-lead privacy protection.

“Additionally, we have created Responsible AI principles to guide how we develop AI tools, as well as the models that underpin them,” said the iPhone maker.

The company further said that no private Apple user data is included in the data mixture.

“Additionally, extensive efforts have been made to exclude profanity, unsafe material, and personally identifiable information from publicly available data. Rigorous decontamination is also performed against many common evaluation benchmarks,” Apple elaborated.

To train its AI models, the company crawl publicly available information using its web crawler, Applebot and “respect the rights of web publishers to opt out of Applebot using standard robots.txt directives”.

“We take steps to exclude pages containing profanity and apply filters to remove certain categories of personally identifiable information (PII). The remaining documents are then processed by a pipeline which performs quality filtering and plain-text extraction,” Apple emphasised.

ALSO READ:  India’s policies to empower women take centre stage at G20 meet

–IANS

na/

Continue Reading

Businesses

Iron ore production doubles, limestone output jumps 37 per cent after mining sector reforms: Govt

Published

on

By

Iron ore production doubles, limestone output jumps 37 per cent after mining sector reforms: Govt

Iron ore production doubles, limestone output jumps 37 per cent after mining sector reforms: Govt

New Delhi, July 29 (IANS) The mining sector reforms introduced by the Centre have turned out to be “instrumental” in augmenting the production of key minerals in the country, Union Minister of Coal and Mines G. Kishan Reddy told the Parliament on Monday.

The production of iron ore has doubled from 129 million tonnes in 2014-15 to 258 million tonnes in 2022-23 while the production of limestone has jumped by 37.6 per cent from 295 million tonnes in 2014-15 to 406 million tonnes in 2022-23, the minister told the Rajya Sabha in a written reply.

The gross value added (GVA) of the mining sector now accounts for 2 per cent of the country’s GDP and the contribution of the mining & quarrying sector in value terms has increased from Rs 2,90,411 crore in 2014-15 to Rs 3,18,302 crores in 2022-23, he added.

The minister also stated that as a result of the reforms implemented by the Central government, a total of 385 mineral blocks have been auctioned in the country since the introduction of the auction regime in 2015. Out of these, 50 mines are already in production.

ALSO READ:  India’s policies to empower women take centre stage at G20 meet

The Ministry of Mines has taken various steps to increase the share of domestic mining in total mineral consumption by increasing mineral production and to make ‘Aatmanirbhar Bharat in the mining sector’.

The Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act, 1957) was amended with effect from March 28, 2021, with the objective of inter-alia increasing mineral production and time-bound operationalisation of mines, increasing employment and investment in the mining sector; increasing the pace of exploration and auction of mineral resources, the minister added.

Some of the key amendments include removing end-use restrictions for the auction of mines, allowing captive mines to sell up to 50 per cent of minerals produced during the year after meeting the requirement of linked plant and removing restrictions on the transfer of mineral concessions. The MMDR Act, 1957 was further amended through the MMDR Amendment Act, 2023 with effect from August 17, 2023, with the objective of increasing exploration and production of critical and deep-seated minerals which are essential for the advancement of many sectors, including high-tech electronics, telecommunications, transport and defence, Reddy added.

ALSO READ:  Mahindra inks pact with Adani Total Energies for expanding EV charging infra

–IANS

sps/vd

Continue Reading

Trending