AAP ka Finance Ep#1

Tesla is in talks with Indian property developer DLF to secure premium showroom space in New Delhi, signaling a renewed interest in the Indian market after halting investment plans earlier this year. Tesla is considering sites like Avenue Mall in southern Delhi and the Cyber Hub in Gurugram, seeking a 3,000-5,000 square feet area for a consumer experience center and a larger space for delivery and service operations.
https://www.indiatoday.in/business/story/elon-musk-tesla-resumes-hunt-for-new-delhi-showroom-with-dlf-says-report-2648089-2024-12-11

Google's Willow quantum chip represents a significant advancement in quantum computing technology. 10^25 yrs. 105 qubits

https://www.jagranjosh.com/general-knowledge/what-is-google-willow-quantum-chip-faster-than-a-supercomputer-1733825827-1

Private unaided schools in Karnataka collected an excess fee of ₹345.80 crore from students in the 2020-21 academic year, violating court directives, the CAG report said, PTI reported. It criticized the state government for its failure to regulate school fees and highlighted that the Department of School Education and Literacy lacked mechanisms to monitor the fees charged by private institutions.

https://www.hindustantimes.com/cities/bengaluru-news/karnataka-private-schools-overcharge-rs-345-crore-during-covid-19-pandemic-cag-report-101734056520309.html

The railway ministry levies clerkage charges on all waitlisted tickets and the revenue generated from all sources, including cancellation, is utilized for working expenses relating to maintenance and operations, the government said in the Lok Sabha in a written reply on Wednesday. If cancelled between 48 hours and 12 hours before departure, 25% of the fare is deducted, while if cancelled within 12 hours to 4 hours of departure, 50% of the fare is deducted.

https://economictimes.indiatimes.com/industry/transportation/railways/clerkage-charge-is-levied-on-cancellation-of-all-waitlisted-tickets-railway-minister-ashwini-vaishnaw/articleshow/116219317.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Passengers report paying up to 200% more for food and beverages at Indian airports, with samosas priced at Rs 200 and thalis at Rs 500, sparking calls for affordable options and pricing reforms. Twitter user @Chacha_huu, claimed to have paid Rs 490 for two samosas, one tea, and a water bottle at Mumbai Airport in 2023.

Fun Fact : Apart from Mumbai, the Adani Group operates airports in Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram. Except for Mumbai, which was acquired from the GVK Group in 2021

https://economictimes.indiatimes.com/news/new-updates/man-says-hindu-khatre-mai-hai-after-spending-rs-490-on-samosa-and-tea-in-mumbai-airport-netizens-say-this/articleshow/104859487.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

https://www.business-standard.com/industry/news/200-price-markup-at-airports-passengers-demand-affordable-options-survey-124121200896_1.html

At 5.2 billion, India ranks 2nd globally in encrypted cyberattacks: Report. The Indian government has allocated of Rs 759 crore for the 2024-2025 fiscal year

Mumbai man loses Rs 10 lakh in task completion scam this week.

https://www.business-standard.com/finance/personal-finance/mumbai-man-loses-rs-10-lakh-in-task-completion-scam-here-s-how-it-works-124121200773_1.html

https://www.linkedin.com/pulse/indias-cybersecurity-ai-leap-union-budget-2024-25-allocation-xbnrc#:~:text=Breaking%20Down%20the%20Allocation,defense%20against%20escalating%20cyber%20threats

https://www.business-standard.com/technology/tech-news/at-5-2-billion-india-ranks-2nd-globally-in-encrypted-cyberattacks-report-124121200635_1.html

Air pollution has contributed to 16 million deaths in India in the past decade – new study. PM2.5 air pollution in India leads to 1.5 million deaths a year. Top polluted cities India 2024.

Durgapur, West Bengal 

Howrah, West Bengal 

Chandigarh

Delhi 

Patna, Bihar 

Muzaffarpur, Bihar 

Kolkata, West Bengal 

Lucknow, Uttar Pradesh 

Jaipur, Rajasthan 

https://www.iqair.com/in-en/india

https://www.business-standard.com/health/new-study-pm2-5-air-pollution-in-india-leads-to-1-5-million-deaths-a-year-124121200467_1.html

Over 62 mn tuberculosis cases, 8 mn deaths in India during 2021-2040 alongwith a Gross Domestic Product (GDP) loss of more than $146 billion, according to a study.

In 2024-25, the Ministry has been allocated Rs 90,659 crore amounting to 1.85% of the budget expenditure, marginally up from 1.76%

https://www.thehindu.com/business/budget/watch-budget-2024-whats-in-it-for-health-sector/article68438853.ece

https://www.business-standard.com/health/over-62-mn-tuberculosis-cases-8-mn-deaths-in-india-during-2021-2040-study-124121300026_1.html

India’s top services face officer crunch: Over 1,300 IAS and 586 IPS vacancies revealed.

As per the official notification, the UPSC Vacancy 2024 is approximately 1056. Almost constant since 2007.

https://bureaucratsindia.in/news/central-government/indias-top-services-face-officer-crunch-over-1300-ias-and-586-ips-vacancies-revealed

Trump Factor: Donald Trump's presidency may lead to a decline in global crude oil prices, though his pro-drilling policies could create upside potential. India's economy could benefit from lower crude prices, but uncertainties remain regarding imports and fiscal policy.

The tax on fuel purchases makes up:55% of the overall retailing petrol price/50% of the entire retail price for diesel

https://www.livemint.com/market/commodities/trump-factor-decoding-the-potential-impact-on-crude-prices-and-india-s-oil-economy-11731306234419.html

Nifty FMCG drops 9.6% in October, records worst monthly drop in 6 years on weak Q2 numbers. Analysts note that urban consumers are becoming increasingly cautious with their spending, pressured by rising living costs and rising food inflation, both of which are eroding the purchasing power of the middle class.

Price of base atta to ₹300 from ₹275 per 10 kg and rice to ₹320 from ₹295.

https://www.thehindubusinessline.com/economy/agri-business/govt-set-to-restart-bharat-atta-rice-pulses-sales-with-revised-prices/article68722050.ece#:~:text=Updated%20%2D%20October%2005%2C%202024%20at,on%20subsidy%2C%20the%20sources%20said.

https://www.livemint.com/market/stock-market-news/nifty-fmcg-drops-9-4-in-october-records-worst-monthly-drop-in-6-years-on-weak-q2-numbers-11730113344729.html

Inflation is lowest in Delhi among states at mere 2.65 %.

https://mospi.gov.in/dataviz-cpi-map

The top seven Indian-based IT companies saw a combined 7,299 H-1B visa petitions for new employment approved in fiscal year 2024, less than half the 14,792 approvals they received in FY2015, according to an analysis of official US data by the National Foundation for American Policy (NFAP).

https://economictimes.indiatimes.com/tech/technology/h-1b-visa-approvals-for-indian-it-firms-fall-by-half-since-2015/articleshow/116271779.cms?from=mdr

Funding for 6G research is low. The government allocated a small amount for telecom R&D. China and the US invest significantly more in tech research. Upgrading 4G and 5G networks for 6G is costly.

Since the actual FY25 budgetary allocation to the Department of Telecommunications (DoT) for R&D is just Rs 400 crore.
https://economictimes.indiatimes.com/industry/telecom/telecom-news/indias-6g-technology-ambitions-run-into-funding-challenges/articleshow/116264927.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Chinese brands dominate Indian smartphone market with 72% share; THIS phone tops the list.

https://www.zeebiz.com/technology/news-chinese-brands-dominate-indian-smartphone-market-with-72-share-this-phone-tops-the-list-326200

‘Internal battle’ in Modi’s BJP on whether India needs Chinese investments, Natixis chief Asia economist says.

In the country’s annual economic survey released last Monday, India’s Chief Economic Advisor V Anantha Nageswaran proposed promoting foreign direct investments from China.

https://www.cnbc.com/2024/08/01/internal-battle-in-modis-bjp-on-whether-india-needs-chinese-investments-natixis-chief-asia-economist-says.html

Nifty risen by 0.42% in this week.

https://www.google.com/finance/quote/NIFTY_50:INDEXNSE?hl=en&window=5D

Rupee touched Rs 85 mark this week.

https://www.google.com/finance/quote/USD-INR?hl=en&window=5D

Govt mulls bond issue for middle-class, rates could beat retail inflation

https://www.business-standard.com/economy/news/govt-mulls-bond-issue-for-middle-class-rates-could-beat-retail-inflation-124121000807_1.html

Private sector profit is at a 15-year-high and has grown four times over the last four years. But salaries are stagnant, having grown annually at rates between 0.8% and 5.4% across sectors

https://www.deccanherald.com/india/salaries-stagnant-large-corporate-handouts-congress-alleges-modi-govts-policies-failed-to-revive-economy-3314621#:~:text=%22%2C%20Ramesh%20said.-,Private%20sector%20profit%20is%20at%20a%2015%2Dyear%2Dhigh%20and,%25%20and%205.4%25%20across%20sectors.

News of 2019. In the biggest reduction in 28 years, the government slashed corporate tax by almost 10 percentage points as it looked to pull the economy out of a six-year low growth and a 45-year high unemployment rate by reviving private investments with a Rs 1.45-lakh crore tax break.

https://economictimes.indiatimes.com/news/politics-and-nation/historic-narendra-modi-on-corporate-tax-cut/articleshow/71216862.cms?from=mdr

Gujarat faces alarming malnutrition rate despite Rs 2,879 cr central aid

https://www.business-standard.com/india-news/gujarat-faces-alarming-malnutrition-rate-despite-rs-2-879-cr-central-aid-124121200906_1.html

News in 2022. Gujarat BJP chief says workers given 90-day target to end malnourishment in state.

https://indianexpress.com/article/cities/ahmedabad/gujarat-bjp-chief-workers-given-90-day-target-end-malnourishment-state-7917412/

In November, businesses generated 101.8 million e-way bills, a notable drop from October's historic 117.2 million. However, this marks a significant improvement over the 87.5 million bills issued in November 2022, according to data from the Goods and Services Tax Network (GSTN).

http://www.gstclub.in/news/1909/E-way-bills-drop-to-five-month-low-in-November-after-festive-peak#:~:text=of%20inventory%20clearance.-,In%20November%2C%20businesses%20generated%20101.8%20million%20e%2Dway%20bills%2C,Services%20Tax%20Network%20(GSTN)

According to FADA, PV sales saw a decline of 13.72 per cent on-year, and commercial vehicle sales dipped 6.08 per cent on year.

https://www.businesstoday.in/auto/story/passenger-commercial-vehicle-sales-decline-in-nov-marriage-related-sales-subdued-fada-456634-2024-12-09

Credit card delinquencies rise by 110 bps, says study

https://indianexpress.com/article/business/banking-and-finance/credit-card-delinquencies-rise-by-110-bps-says-study-9719706/

SIP flows above ₹25,000 Crore in Nov-24, but SIP stoppage spikes

https://www.indiainfoline.com/blog/sip-flows-above-25000-crore-in-nov-24-but-sip-stoppage-spikes

In 2024, India has seen significant layoffs primarily concentrated in the tech sector, with major companies like Intel, Cisco, Microsoft,etc cutting thousands of jobs, resulting in over 100,000 IT jobs lost across the country, particularly in the second half of the year; this trend is attributed to economic challenges and company restructuring initiatives.

https://www.business-standard.com/industry/news/tech-layoffs-2024-over-100-000-it-jobs-cut-in-second-half-of-the-year-124100100638_1.html

In May 2024. Prime Minister Narendra Modi defended his government's job creation efforts, citing a significant increase in taxpayers and EPFO subscribers, and growth in the startup sector.
https://economictimes.indiatimes.com/news/elections/lok-sabha/india/is-india-suffering-from-an-unemployment-issue-pm-modi-says-the-country-is-generating-jobs/articleshow/110367311.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Asset reconstruction companies (ARCs) were designed to clean up the banking sector by resolving non-performing assets (NPAs).  However, they are giving steep discount on distressed entities. It’s a tax burden on common man.

https://www.moneylife.in/article/asset-reconstruction-companies-controversies-questions-and-a-bleak-future/75663.html

Oil prices increased by 1.81% this week.

https://oilprice.com/oil-price-charts/#WTI-Crude

Employment corner