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CII's Comprehensive Recommendations for India's 2024 Budget - Infrastructure, Manufacturing, Tax Reforms, and Social Sector Enhancement

India 2024
31 January, 2024

The Confederation of Indian Industry (CII) has recommended several key measures for India’s 2024 budget:

  1. Infrastructure Spending: CII suggests a 20% increase in infrastructure spending, reaching 12 trillion Indian rupees, and extending support to states with interest-free loans.
  2. Manufacturing Incentives: An extension of the concessional tax regime for new manufacturing facilities for an additional five years.
  3. Import Duty Structure: A review of import tariffs to implement a three-tier duty structure, aiming to balance the taxation of raw materials, intermediate goods, and final products.
  4. Taxation Adjustments: They recommend revising the tax exemption limit for individuals and reviewing the capital gains tax structure for consistency.
  5. Healthcare and Education Investment: Suggesting an increase in spending on healthcare to 2.5-3% of GDP and on education to 6% of GDP.

These recommendations focus on enhancing infrastructure, manufacturing, and social services to support economic growth.

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Byju's Faces Drastic Valuation Cut Amid Financial Turmoil

Startup
24 February, 2024

Byju’s, once heralded as a flagship in India’s edtech sector, is grappling with severe financial and operational challenges, marked by a dramatic valuation drop. The company, which sought to stabilize its operations and finances, is now raising funds at a valuation significantly lower than its peak. This development comes amid efforts to address a substantial debt burden, with Byju’s proposing a repayment plan for its $1.2 billion loan. Investor confidence appears shaken, with some stakeholders pushing for drastic changes in leadership to navigate the crisis effectively. The turmoil reflects broader sectoral pressures and raises questions about the sustainability of high-growth trajectories in the edtech industry

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Australia Accelerates Clean Energy Transition Amid Market Shifts and Investment Surge

Energy
10 February, 2024

Australia’s energy market is witnessing significant transitions and investments aimed at bolstering renewable energy infrastructure and securing gas supplies. Key developments include a $179 million investment by the Queensland Government for community battery projects, Santos’ $5.7 billion gas pipeline project following a legal battle win, and a $206 million energy savings package for NSW households. Additionally, the Australian government has secured new gas supply deals to support the east coast market, emphasizing the role of gas in transitioning to a renewable grid.

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CVoter India Today: BJP Projected to Secure Clear Majority in 2024 Indian Elections

India 2024
9 February, 2024

The latest opinion polls, including the Mood of the Nation survey by India Today, predict a comfortable victory for Prime Minister Narendra Modi’s BJP and its allies in the National Democratic Alliance (NDA), with a projected win of 335 Lok Sabha seats in the 2024 general elections. This forecast suggests a slight decrease from the 2019 elections but still ensures a majority. The survey, involving interviews with over 149,000 respondents, reflects Modi’s enduring popularity based on his nationalist policies and economic reforms. Other polls echo these findings, although seat projections vary slightly. The opposition INDIA alliance is expected to secure a significant number of seats, yet not enough to challenge the NDA’s majority. These predictions highlight a political landscape that remains largely favorable to Modi and the BJP as the election approaches

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