PLI Scheme Sparks Growth 🔥
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🗞️ Tamil Nadu Secures Major Projects Under PLI Scheme
Finance Minister Nirmala Sitharaman announced that Tamil Nadu has received a significant portion of projects under the Production-Linked Incentive (PLI) scheme in sectors like electronics and automobiles. This move aims to boost manufacturing and employment in the state.
🗞️ Government to Abolish 6% Equalisation Levy by April 2025
The Finance Bill proposes to eliminate the 6% equalisation levy on online advertising services starting April 2025, aligning with global tax reforms and benefiting international digital companies operating in India.
📌 Expert Opinion: Tax experts say this will make India's digital ad market more competitive, benefiting platforms like Google and Meta.
🗞️ RBI Revises Priority Sector Lending Guidelines
The Reserve Bank of India (RBI) has updated its Priority Sector Lending (PSL) guidelines, increasing targets for sectors like housing and renewable energy. This revision aims to enhance credit flow to these critical areas, promoting sustainable development.
📌 Expert Opinion: Analysts see this as a major push for affordable housing and green energy, helping India meet its climate goals.
🗞️ Electronics Exports Expected to Surpass ₹3 Lakh Crore
India's electronics exports are projected to exceed ₹3 lakh crore, driven by increased global demand and supportive government policies. This surge underscores the country's growing prominence in the global electronics market.
🗞️ DLF Plans to Double Profit and Cash Flows by FY30
DLF, a leading real estate developer, aims to double its profit after tax (PAT) and cash flows by the fiscal year 2030, focusing on expanding its residential and commercial projects across key markets.
🗞️ Crude Import Bill Rises 2.9% in April-February Period
India's crude oil import bill increased by 2.9% during the April-February period, reflecting higher global oil prices and rising domestic consumption. This uptick impacts the country's trade balance and fiscal planning.
📌 Expert Opinion: Economists warn that rising oil imports could weaken the rupee and put pressure on inflation.
🗞️ Amazon India Removes Referral Fees on Low-Priced Products
Amazon India has eliminated referral fees on 12 million low-priced products and reduced shipping charges, aiming to support small sellers and enhance affordability for customers.
🗞️ SEBI Increases Disclosure Threshold for FPIs to ₹50,000 Crore
The Securities and Exchange Board of India (SEBI) has approved raising the disclosure threshold for Foreign Portfolio Investors (FPIs) to ₹50,000 crore, enhancing transparency and monitoring of substantial investments in Indian markets.
📊 Market Updates
📈 Sensex: ⬆️ +1,078.87 points (1.40%), closing at 77,984.38
📊 Nifty 50: ⬆️ +307.95 points (1.32%), ending at 23,658.35
💵 Rupee: ⬆️ ₹85.75 against USD, slight gain for the currency
🥇 Gold: $3,025.38 per ounce, holding strong
🥈 Silver: $25.50 per ounce, steady demand
🛢️ Brent Crude: ⬆️ +1.35% to $69.20 per barrel, oil prices climbing