Budget 2025 expectations: Finance Minister Nirmala Sitharaman may propose a phased implementation of labour codes in Budget 2025, starting with large establishments. The plan involves a three-phase deployment.
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India's electronics industry aims to achieve USD 500 billion in manufacturing output by 2030, requiring substantial growth and overcoming a USD 400 billion production gap. This expansion is projected to create 12 million jobs by 2027 but faces a significant talent gap. Targeted skilling programs and industry-academia collaborations are essential to meet these goals.
The IRS has started the 2025 tax filing season, advising early submission due to potential processing delays from staffing adjustments. Refund processing timelines include 21 days for electronic and eight weeks for paper filings, with the 'Where's My Refund' tool providing status updates.
Banks and UPI applications must conduct weekly updates of their mobile number records to prevent errors from recycled or modified numbers. Applications must obtain explicit user permission before assigning or updating numeric UPI IDs.
Stock markets worldwide saw declines on Monday due to fears of President Trump's tariffs set to take effect on Wednesday. The S&P 500 dropped by 0.6%, while the Nasdaq composite fell by 1.6%. Concerns about inflation and global economic slowdown led to significant sell-offs in major indices globally, reflecting growing economic uncertainty.
Global investors including Temasek, IHC, and Alpha Wave Global are investing in Haldiram's, valuing the company at $10 billion. These investments will help Haldiram's expand in the US and Middle East. The company plans to go public within the next two years.
India's technology sector workforce grew by 1.2 lakh in 2024-2025, fueled largely by Global Capability Centres (GCCs) hiring over 100,000 professionals. IT firms added only 11,000 employees, while GCCs continued to drive significant employment growth and further reinforce India's expanding tech industry.
India's services sector growth reached a four-month high in December due to strong demand and reduced inflationary pressures, as per an HSBC survey. The Services Business Activity Index rose to 59.3, reflecting robust new business inflows and continued job creation despite increased costs. Employment growth and positive business outlook persisted.
Haldiram's has sold stakes to International Holding Company (IHC) and Alpha Wave Global amid global expansion plans, particularly targeting the US and Middle Eastern markets. The investment is part of an equity round, valuing Haldiram's at around USD 10 billion. This move aims to bolster their market presence and product offerings internationally.
RBI Governor Shaktikanta Das, in his final press conference, emphasized the crucial coordination between the RBI and the government in managing inflation. He defended the RBI's stance on maintaining stable rates despite slowing growth, highlighting the impact of multiple factors.
The world's top 10 business leaders of 2024 have significantly impacted industries. Elon Musk leads in innovation. Jensen Huang drives AI advancements. Satya Nadella transformed Microsoft. Warren Buffett remains an investment icon. Mukesh Ambani, chairman of Reliance Industries, is the only Indian on Fortune's Global 100 list. He ranks 12th globally.