TMS Ep617: Byju's GenAI, interim Budget, market rally, PM Suryoday Yojana

Byju’s, it seems, has been reduced to a pale shadow of its former self. Once the world’s most valuable education tech firm, it is now mired in a host of financial and legal troubles. Its just released but delayed financial statement for fiscal year 2021-22 paints a grim picture. Losses had more than doubled in the pandemic-hit year - a period which was considered the best for ed-tech platforms. The firm is now focussing on Generative Artificial Intelligence to lift its fortunes. Will it help? 

Byju’s was once the poster boy of Indian startups. While some of its actions have knocked it off from the high pedestal, the country’s overall startup ecosystem continues to flourish. In the next five years, it is expected to contribute close to 5% to the country's GDP. Speaking of the economy, the government is all set to table an interim budget on February 1. In the fourth episode of Business Standard’s interim Budget series, explore if Union Finance Minister Nirmala Sitharaman will try to lift the rural economy by offering sops? 

Investors in financial markets too keenly watch every budget announcement. Meanwhile, key benchmark indices are going through some volatility. From a record high of 22,124, the Nifty has slipped nearly 4 per cent amid frequent bouts of profit-taking owing to Q3 earnings. Technically, the Nifty is seen quoting below its 20-day moving average for the first time since early November 2023. With the Union Budget drawing close, will the markets bounce back and see a pre-Budget rally? 

India’s stock market has overtaken Hong Kong’s to become fourth-biggest equity market globally for the first time. Moving on, Prime Minister Narendra Modi has announced ‘Pradhanmantri Surydaya Yojana,’ under which the government will provide rooftop solar power systems to one crore households across the country. Listen to this episode of the podcast for answers.