Decoding the Economic Survey 2024 | Union Budget 2024

The Andhra Pradesh government and EdTech company PhysicsWallah have signed an agreement to set up a University of Innovation (UoI) at an investment of up to Rs 1,000 crore.
The UoI is set to emerge as the first institute of eminence in the state and aligns with Chief Minister N Chandrababu Naidu's aim to provide the state's youth with education in Artificial Intelligence (AI) and other emerging technologies.
We are committed to investing up to Rs 1,000 crores by GSV Ventures - US and other investors, the purpose is to create an institution that combines academic learning with industry relevance. The UoI will help learners with the skills they might need in a constantly evolving job market, in an attempt to foster entrepreneurship and innovation, said PhysicsWallah founder and chief executive Alakh Pandey in a press release on Friday.
The UoI will work towards blending academic excellence, innovation, and research, focusing on addressing key challenges in education and ...

The UoI is set to emerge as the first institute of eminence in the state and aligns with Chief Minister N Chandrababu Naidu's aim to provide the state's youth with education in AI, other technology

Tata Steel Netherlands will face fines of almost €27 million ($28 million) if it doesn't take measures at its coke plaBy Charlotte Hughes-Morgan

According to Isro, the agreement establishes a framework for cooperative activities in human space exploration and research

Transport Corporation of India on Thursday said its lab set up in collaboration with IIM, Bangalore, has received ISO certification for a digital tool that can track greenhouse gas emissions.
The TCI-IIMB Supply Chain Sustainability Lab at the Indian Institute of Management Bangalore (IIMB), founded in collaboration with TCI, has become the first organisation in India to achieve ISO 14083 certification for its groundbreaking digital platform, the Transportation Emissions Measurement Tool (TEMT), it said in a release.
"This certification underscores the platform's ability to accurately quantify and report greenhouse gas (GHG) emissions from freight transportation activities, helping organisations to measure, manage, and ultimately reduce their transportation-related emissions in line with regulatory requirements and sustainability goals," TCI said.
(TEMT) is a comprehensive online platform designed to measure emissions across all modes of transportation.
In India, the transportation

(TEMT) is a comprehensive online platform designed to measure emissions across all modes of transportation

The Congress on Saturday hit out at the Election Commission for tweaking an election rule to prevent public inspection of certain electronic documents such as CCTV camera and webcasting footage, asking why the poll panel was afraid of transparency.
Congress general secretary in-charge communications Jairam Ramesh said the party would legally challenge amendment.
"If there was ever a vindication of our assertions regarding the rapidly eroding integrity of the electoral process managed by the Election Commission of India (ECI) in recent times, this is it," Ramesh said in a post on X.
Sharing a December 20 notification, the Congress leader said, "This move of the ECI will be challenged legally right away."
The government has tweaked an election rule to prevent public inspection of certain electronic documents such as CCTV camera and webcasting footage as well as video recordings of candidates to prevent their misuse.
Based on the recommendation of the poll panel, the Union law minist

The government has tweaked an election rule to prevent public inspection of certain electronic documents such as CCTV camera and webcasting footage

Former Haryana Chief Minister Om Prakash Chautala was cremated on Saturday with full state honours in Teja Khera village in his native Sirsa district.
Chautala, who was a five-time chief minister, died in Gurugram on Friday. He was 89.
Vice President Jagdeep Dhankhar, Union Minister Manohar Lal Khattar, Haryana Chief Minister Nayab Singh Saini, Shiromani Akali Dal leader Sukhbir Singh Badal reached Teja Khera to attend the last rites of the departed leader.
Many Haryana ministers, state Assembly Speaker Harvinder Kalyan, former Union minister Venod Sharma, SAD leader Bikram Singh Majithia, BJP's Manpreet Badal and Manjinder Singh Sirsa and several other leaders also reached Teja Khera to pay their last respects.
Political leaders cutting across parties laid floral wreaths to pay their last respects to the departed leader.
Earlier, Chautala's mortal remains were Saturday kept at the family's Teja Khera farmhouse here for people to pay their last respects to the departed Indian Nati

The Haryana government declared a three-day state mourning on Friday. It has also declared Saturday a public holiday in all its offices as a mark of respect

The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, but a decision on big-ticket rate rationalisation, including a higher tax on sin goods, may be deferred.
The GoM on GST rate rationalisation had proposed rate rejigs in 148 items in its recommendations, but sources said that consensus is needed to be built on some of the tax changes that the panel has suggested and some more time may be needed for that.
The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is also likely to deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
The GST rate is also proposed to be cut on food delivery platforms like Swiggy and Zomato, to 5 per cent (without input tax credit), from the current 18 per cent (with ITC).
However, the Fitment Committee (comprising tax

Also, the Group of Ministers (GoM) on GST compensation cess is likely to get a six month extension till June, 2025, to submit its report. The compensation cess regime comes to an end in March, 2026

Funds devolved to states under the 15th Finance Commission (2021-2024) is more than what was devolved under the 14th Finance Commission (2015-20), finance minister Nirmala Sitharaman said on Friday.
In a pre-budget meeting with states, Sitharaman remarked that because of healthy macroeconomic environment, buoyancy and efficiency in the tax collections, the devolution has increased.
"The funds devolved to the states in the last 45 months (April 2021 to December 2024) under the 15th Finance Commission is more than what was devolved in 60 months under the 14th Finance Commission (2015-20)," an official statement quoting Sitharaman said.
The Union finance minister also referred to the Scheme for Special Assistance to States for Capital Investment (SASCI), which was first announced in the Union Budget 2020-21, and acknowledged that it has received a very good response from states.
States have been requesting the Central government to enhance the outlay under the scheme as it is leading

In addition to this, the Union finance minister stated that the Centre has created an additional dispensation under SASCI for the states affected by disaster of a severe nature as assessed by the Inte

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Decoding the Economic Survey 2024 | Union Budget 2024

Decoding the Economic Survey 2024 | Union Budget 2024

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