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Up to 3.72 lakh <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> will be supported under the four-month <keyword id="20961992" type="General" weightage="20" keywordseo="Electric-Mobility-Promotion-Scheme" source="keywords">Electric Mobility Promotion Scheme</keyword> (<keyword id="20951149" type="General" weightage="100" keywordseo="EMPS" source="keywords">EMPS</keyword>) being implemented between April and July with an outlay of Rs 493.55 crore, the government said on Tuesday. Electric Mobility Promotion Scheme (EMPS) - 2024 will provide further impetus to the <keyword id="20156633" type="General" weightage="20" keywordseo="green-mobility" source="keywords">green mobility</keyword> and development of electric vehicle (EV) <keyword id="20071405" type="General" weightage="20" keywordseo="manufacturing-ecosystem" source="keywords">manufacturing ecosystem</keyword> in the country. The maximum number of electric vehicles to be supported under the scheme stands at 3,72,215, including 3,33,387 electric <keyword id="20201345" type="General" weightage="20" keywordseo="two-wheelers" source="keywords">two-wheelers</keyword>, 13,590 e-rickshaws or e-carts and 25,238 electric three-wheelers in the L5 category, according to figures shared by the <keyword id="20021346" type="General" weightage="20" keywordseo="Ministry-of-Heavy-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Heavy Industries" meta.hostid="261" meta.entityid="Ministry of Heavy Industries">Ministry of Heavy Industries</keyword>. "EMPS 2024 is fund limited, with restricted number of vehicles and a term-limited Scheme, i.e., the <keyword id="19977665" type="General" weightage="20" keywordseo="subsidies" source="keywords">subsidies</keyword> for <keyword id="22519910" type="General" weightage="20" keywordseo="demand-incentive" source="keywords">demand incentive</keyword> are eligible for e-2w and e-3w sold and registered until the funds are available or the number of vehicles supported reaches the maximum number defined category-wise (shown in para above) or until July 31, 2024, whichever comes first," the ministry stated.

Electric Mobility Promotion Scheme to support up to 3.72 lakh EVs: Govt

India’s electric vehicle (EV) sector, often seen as a key player in the country’s clean energy transition, has been called “irrelevant” without government <keyword id="20231384" type="General" weightage="20" keywordseo="incentives" source="keywords">incentives</keyword> by a recent Bernstein research report. The report highlights the serious challenges automakers face in achieving profitability and scaling operations in the EV segment, which remains heavily reliant on financial support from the government. <h2>Struggling to achieve profitability</h2>The Bernstein report reveals that generating profitable margins in the Indian EV sector is proving to be an uphill battle for automakers. “It is tough to generate sufficient margins and get scale in EVs. Even with hefty incentives, incumbent OEMs are still unprofitable,” the report stated. This underscores the fact that even with <keyword id="20022183" type="General" weightage="20" keywordseo="government-subsidies" source="keywords">government subsidies</keyword> aimed at promoting <keyword id="20138204" type="General" weightage="20" keywordseo="electric-mobility" source="keywords">electric mobility</keyword>, automakers are struggling to make EVs financially viable. High production costs, limited infrastructure, and relatively low consumer demand all contribute to this issue. Traditional automakers, particularly in India’s two-wheeler market, are facing significant financial losses. According to Bernstein, while some niche startups may survive, their long-term market share will likely remain limited, and competition will primarily be between established original equipment manufacturers (OEMs). The key challenge for these OEMs is achieving the scale and cost reductions required to compete with the well-entrenched internal combustion engine (ICE) sector. <h2>Reliance on incentives</h2>One of the most striking conclusions from Bernstein’s analysis is the deep reliance of the EV sector on government subsidies. Without these incentives, the <keyword id="19952060" type="General" weightage="100" keywordseo="EV-Industry" source="keywords">EV industry</keyword> would be unable to compete with traditional ICE vehicles. “The EV Industry is not relevant without incentives currently, and to break the ICE sector, it needs intense focus, scale, and continued cost downs,” the report emphasised. This indicates that while government schemes like GST benefits have helped reduce the cost difference between EVs and ICE vehicles, they are not enough to ensure the long-term sustainability of the EV sector. Bernstein estimates that the overall EV two-wheeler industry in India generates around USD 1.3 billion in annual revenues, but without government support, the sector incurs an EBIT loss of approximately USD 300-400 million. The high cost structure of EVs, combined with the relatively low sales volumes, makes it difficult for companies to operate without subsidies. <h2>Established players face mixed fortunes</h2>Among India’s leading two-wheeler manufacturers, Bernstein noted that <keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="265" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> and <keyword id="20326963" type="General" weightage="20" keywordseo="TVS-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motors" meta.hostid="265" meta.entityid="TVS Motors">TVS Motors</keyword> are on a similar footing in terms of their performance in the EV space. Bajaj Auto received an "Outperform" rating from Bernstein due to its lower valuations, while TVS Motors was rated "Market Perform" after it was found to be losing approximately 7.5% in EBITDA, or Rs 11,000 per vehicle, despite generating a gross profit margin of 7% without subsidies. <div type="Article" hostid="261" msid="113631992" title="Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh" mstype="2" mssubtype="0"></div>Hero MotoCorp, a major player in India’s automotive market, lags behind both Bajaj and TVS in terms of its EV offerings. Bernstein also pointed out that Eicher Motors, which is expected to launch its own <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> soon, is likely to remain “sub-scale and less relevant” in the competitive EV landscape. Interestingly, <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="265" meta.entityid="Ola Electric">Ola Electric</keyword> (Ola-E) stands out as a startup that has been able to generate positive operating earnings (EBITDA) from its premium models like the S1 Pro and S1 Air, even as it incurs losses on its mass-market model, the S1X. “Our analysis indicates that Ola-E is generating positive operating EBITDA from its premium models, such as the S1 Pro and S1 Air while incurring a loss on its mass-market model, the S1X,” the report said. While Ola has shown some promise, it too remains heavily dependent on subsidies to maintain its financial health. <h2>Long-term outlook</h2>Bernstein’s report paints a challenging picture for the future of India’s EV sector, suggesting that while dominant startups may survive, the majority of the competition will come from traditional automakers. However, without significant scale and continued cost reductions, the EV industry will struggle to become self-sustaining. <div type="Article" hostid="261" msid="113315022" title="Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars" mstype="2" mssubtype="0"></div>Bernstein emphasised that to truly compete with ICE vehicles, the EV sector needs to focus on scaling up operations, reducing costs, and maintaining long-term commitment. Until these conditions are met, India’s EV industry will remain highly dependent on government support and may continue to face an uphill battle for relevance. In conclusion, while India’s EV sector is seen as a vital part of the country’s clean energy future, Bernstein’s analysis highlights that it is far from being self-reliant. The industry’s heavy dependence on government incentives raises questions about its long-term sustainability and relevance, particularly in the face of ongoing challenges with profitability and scale. (With inputs from ANI)

Why has Bernstein called India’s EV sector 'irrelevant'?

If you woke up in <keyword id="19900881" type="General" weightage="20" keywordseo="delhi" source="keywords">Delhi</keyword> recently, you might have noticed more than just the nip in the air – a thick, toxic smog has blanketed the city, turning the air almost unbreathable. On Monday, Delhi’s <keyword id="19920379" type="General" weightage="20" keywordseo="air-quality-index" source="keywords">Air Quality Index</keyword> (<keyword id="19916482" type="General" weightage="20" keywordseo="aqi" source="keywords">AQI</keyword>) hit 481, placing it in the "severe plus" category. For context, the “severe” category begins at an AQI of 401, and anything above 450 poses serious health risks even for healthy individuals. According to Swiss group IQAir’s live rankings, Delhi is currently the most polluted city in the world, with an air quality score of 1,081 – a “hazardous” level that is 130.9 times the World Health Organization’s recommended limit for PM2.5. <h3 style="line-height:1.38;margin-top:14pt;margin-bottom:4pt;">Major contributors to Delhi’s smog</h3>The root causes of Delhi’s pollution are manifold: <ul><li>Stubble Burning: On Saturday, crop residue burning contributed 25% of Delhi’s air pollution. By Sunday, this figure had climbed to 40%, according to SAFAR (System of Air Quality and Weather Forecasting and Research). Satellites recorded 1,334 stubble-burning incidents in six northern states on Sunday alone, the highest number in four days.</li><li>Vehicles: On Sunday, vehicular emissions accounted for 15.8% of the city’s pollution, according to the Centre’s Decision Support System for Air Quality Management.</li><li>Construction Dust and Industrial Emissions: PM2.5, a deadly pollutant, remains the most prominent factor, capable of penetrating deep into the lungs and leading to severe respiratory and cardiac diseases.</li></ul><h3 style="line-height:1.38;margin-top:14pt;margin-bottom:4pt;"><keyword id="24020184" type="General" weightage="20" keywordseo="GRAP-Stage-4" source="keywords">GRAP Stage 4</keyword></h3>To combat the rising pollution levels, authorities have enforced Stage 4 of the Graded Response Action Plan (GRAP). Here’s a breakdown of the restrictions: <ul><li>Vehicle Restrictions:</li><ul><li>Diesel medium and heavy goods vehicles (BS-IV and below) registered in Delhi are banned unless carrying essential goods.</li><li>Non-essential light commercial vehicles from outside Delhi can only enter if they use CNG, BS-VI diesel, or are electric.</li><li>Trucks carrying non-essential items are barred unless they use cleaner fuels like LNG, CNG, or BS-VI diesel. </li></ul><li>Workplace and School Adjustments:</li><ul><li>Classes for students in grades 6 to 9 and class 11 have moved online.</li><li>Offices in the National Capital Region (NCR) are advised to work at 50% capacity, with the rest operating remotely. </li></ul><li>Construction Ban: </li><ul><li>Construction and demolition (C&amp;D) activities have been halted, including large projects like highways, flyovers, and pipelines. </li></ul></ul>Out of Delhi’s 40 monitoring stations, 32 reported AQI levels above 400 on Monday. Visibility in parts of the city dropped to just 100 metres due to the thick smog. The health implications of these numbers are alarming. <keyword id="20118319" type="General" weightage="20" keywordseo="PM2-5-levels" source="keywords">PM2.5 levels</keyword> in Delhi were recorded at 130.9 times the safe limit set by the WHO. According to experts, long-term exposure to such air quality could lead to an 11% increase in premature mortality rates due to respiratory and cardiovascular diseases. Studies have shown that Delhi residents may lose an average of 10 years of life expectancy if pollution levels persist. Despite the restrictions, life in Delhi continues under a cloud of smog. Iconic landmarks like India Gate have become barely visible through the haze. While flights and trains are operational, some delays have been reported.

GRAP Stage 4 restrictions take effect as air quality in Delhi deteriorates; PM2.5 levels 130 times higher than WHO limits

<ul><li><keyword id="6354504" type="General" weightage="100" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> and <keyword id="19896909" type="General" weightage="20" keywordseo="airtel" source="keywords">Airtel</keyword> have reported an increase in subscribers in January 2024.</li><li>Vi has once again reported a decline in subscribers, along with state-owned BSNL.</li><li>The overall subscriber base in India has also recorded an increase at the start of the year.</li></ul>India’s two biggest telecom operators, Reliance Jio and Bharti Airtel have once again reported an increase in their subscriber base, while the cash-strapped Vi reported a decline in its subscriber count. Vi, the only private telecom operator to have not rolled out 5G services in the country, lost 1.52 million subscribers in January 2024 according to data from market regulator Telecom Regulatory Authority of India (TRAI). The telco had lost 1.38 million subscribers in December 2023. State-run <keyword id="20414626" type="General" weightage="20" keywordseo="bharat-sanchar-nigam-limited" source="keywords">Bharat Sanchar Nigam Limited</keyword> (BSNL) reported a decline of 1.18 million subscribers in January 2024. <cmsannotation type="cmsannotation" annotationid="Reliance Jio adds over 4 million subscribers" comment="subhead" text="Reliance Jio adds over 4 million subscribers">Reliance Jio adds over 4 million subscribers</cmsannotation> While the two telcos continued to lose subscribers in January 2024, Mukesh Ambani-led Reliance Jio added 4.18 million subscribers during the period. With this, the company’s total subscriber base has increased from 459.81 million subscribers to 463.99 million subscribers, further strengthening its stronghold in the Indian telecom industry. Out of the 463.99 million subscribers, Jio’s active subscriber base currently stands at 425.61 million, which is around 91.73%. <cmsannotation type="cmsannotation" annotationid="Airtel continues to add subscribers" comment="subhead" text="Airtel continues to add subscribers">Airtel continues to add subscribers</cmsannotation> Sunil Mittal-led Airtel added 0.75 million subscribers in January 2024, taking its total subscriber base from 381.73 million subscribers in December 2023 to 382.48 million subscribers in January 2024. Airtel has the highest proportion of active subscribers at 99.64%. Out of its 382.48 million subscribers, the telco’s active subscribers stand at 381.09 million. <cmsannotation type="cmsannotation" annotationid="Vi and BSNL’s subscriber base shrinks" comment="subhead" text="Vi and BSNL’s subscriber base shrinks">Vi and BSNL’s subscriber base shrinks</cmsannotation> Vi lost 1.52 million subscribers in January 2024, taking its total subscribers from 223.05 million in December 2023 to 221.53 million users. Vi also has the lowest active subscriber proportion among the three at 88.01%. Out of its 221.53 million subscribers, only 193.96 million subscribers are active. On the other hand, state-run telco BSNL’s loss of 1.18 million subscribers takes it total subscriber count to 90.59 million, down from 91.78 million subscribers in December 2023. <cmsannotation type="cmsannotation" annotationid="MNP requests continue to grow" comment="subhead" text="MNP requests continue to grow">MNP requests continue to grow</cmsannotation> Mobile number portability (MNP), which allows users to shift from one telecom operator to another, recorded 12.36 million requests during January 2024. With this, the total number of MNP requests received since the introduction of this in November 2010 has reached 939.55 million. <cmsannotation type="cmsannotation" annotationid="Vi expected to rollout 5G services in six months" comment="subhead" text="Vi expected to rollout 5G services in six months">Vi expected to rollout 5G services in six months</cmsannotation> According to a report by the Economic Times, Vi plans to roll out its 5G services in India in the coming six months after it gets funding. Vi is also expected to turn off its 3G services by FY25 and use this spectrum to offer improved 4G services. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/indias-electric-two-wheeler-industry-records-highest-ever-monthly-sales-as-fame-subsidy-ends/articleshow/109030516.cms">India’s electric two-wheeler industry records highest-ever monthly sales as FAME subsidy ends</a> <a href="https://www.businessinsider.in/tech/news/hp-omen-transcend-14-review/articleshow/108980896.cms">HP Omen Transcend 14 review – a feature-packed, lightweight gaming laptop with excellent display</a> <a href="https://www.businessinsider.in/business/auto/news/hyundai-retakes-the-second-spot-from-tata-motors-records-its-highest-ever-sales/articleshow/108962655.cms">Hyundai retakes the second spot from Tata Motors, records its highest-ever sales</a>

Reliance Jio and Airtel add nearly 5 million subscribers in January 2024

<ul class="summary-list"><li>Dutch startup Elysian unveiled plans for an electric plane it says could fly 500 miles on a single charge.</li><li>The company says the E9X has eight engines and folding wingtips.</li></ul>After years of hype, electric planes have largely failed to get off the ground, with <a target="_blank" class="" href="https://www.businessinsider.com/inside-kittyhawk-google-founder-billionaire-larry-page-flying-car-company-2023-4">startups collapsing</a> and existing prototypes <a target="_blank" class="" href="https://www.businessinsider.com/electric-planes-future-of-aviation-problems-regulations-2020-3">struggling to take off</a>.Elysian, an electric plane startup based in the Netherlands, thinks it has found a way to change that; a novel new battery-powered jet that it says could fly 90 passengers up to 500 miles on a single charge."Part of the reason why the aerospace industry has been so skeptical about large electric aircraft is because to electrify a contemporary plane, you had to make very wild assumptions about how battery technology will develop," Elysian co-CEO Daniel Rosen Jacobson said.The startup has attempted to get around this problem, he said, by rethinking what an airplane should look like to squeeze every drop of performance from current battery tech.The result is the E9X concept, a 90-passenger electric plane about the size of an A320 that could be capable of traveling up to 500 miles on a single charge.The E9X has larger wings and a slimmer body than most conventional aircraft, and in place of two to four jet engines, it has 8 propellor engines powered by batteries stored inside the wings, a design choice that aims to make the E-9X as light as possible.The plane would also come with folding wingtips, which Elysian says are intended to improve its aerodynamics and allow it to fit within gates designed for current aircraft.The E9X currently exists only on paper, with Elysian planning to build a full-scale prototype by 2030.Jacobson believes that if E9X and other <a target="_blank" class="" href="https://www.businessinsider.com/jsx-intends-buy-hybrid-electric-planes-semi-private-2023-12">large short-haul electric jets like it</a> become a reality, they could dramatically cut the aviation industry's CO2 emissions and transform the flying experience."It would become much more attractive to use aircraft versus pretty much any other transport mode," he said, adding that quieter electric engines would "very likely" make flying a far more peaceful experience.<h2 id="7dd58977-6a55-498e-94f8-724bec61a17b">Electric planes haven't taken off</h2>The past few years have seen several once-promising efforts to build an electric plane falter.Both <a target="_blank" class="" href="https://www.popsci.com/technology/nasa-cancels-x-57-flight/">NASA</a> and <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2023-11-28/rolls-royce-backs-away-from-electric-hydrogen-powered-airplanes">Rolls Royce</a> scrapped plans to build electric planes last year. Kitty Hawk, a startup backed by Google cofounder Larry Page, abandoned plans to develop an <a target="_blank" class="" href="https://www.businessinsider.com/flying-car-vehicles-google-founder-larry-page-kittyhawk-craziest-ideas-2023-4#flyer-1">ultralight electric flying car in 2020</a> and <a target="_blank" class="" href="https://www.businessinsider.com/larry-page-kitty-hawk-flying-car-shutting-down-2022-9">was wound down in 2022</a>.Experts have expressed skepticism over whether existing batteries have a high enough energy density — the amount of energy they can store relative to their mass — to power all but the smallest of planes."In my view, the main bottleneck is still the energy source; current batteries are too heavy for the amount of energy they provide. This means that for now, electric propulsion is only viable for small aircraft with a limited range," Sophie Armanini, a lecturer in Aerial Robotics at Imperial College London, <a target="_blank" class="" href="https://www.politico.eu/article/electric-aircraft-emissions-aviation-pipistrel/">told Politico</a>.Elysian believes it has a workaround with the E9X, but Jacobson acknowledged that making large electric planes a reality will still be challenging.He said the E9X would require around 11 to 13 megawatts in charging capacity, and said Elysian had been in contact with one energy company that quoted a price of under 10 million euros ($10.9 million) to install the necessary charging infrastructure.Jacobson believes this figure is comparatively small in the scale of airport infrastructure overhauls and said that the transformative impact of large electric planes would make it a small price to pay."Until now, the industry didn't think there was a commercial electric solution. Now with this concept there is," he said.

This electric plane promises to fly 90 passengers 500 miles on a single charge

The Union Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, places significant emphasis on <keyword id="19941381" type="General" weightage="20" keywordseo="energy-security" source="keywords">energy security</keyword> and sustainability. As per the government, the current strategy will focus on ensuring that energy resources are readily available, making energy affordable for all citizens and keeping energy costs low to prevent economic strain on consumers. Here's a breakdown of the key initiatives announced: <h2>PM Surya Ghar Muft Bijli Yojana</h2>One of the standout initiatives is the PM Surya Ghar Muft Bijli Yojana. This program aims to install <keyword id="20366573" type="General" weightage="20" keywordseo="rooftop-solar-plants" source="keywords">rooftop solar plants</keyword> across 1 crore households, providing up to 300 units of free electricity per month. As per the FM, the scheme has already seen significant interest, with over 1.28 crore registrations and 14 lakh applications. <h2>Pumped Storage Policy</h2>To enhance electricity storage capabilities and integrate more <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> into the grid, the government will introduce a policy promoting pumped storage projects. These projects are crucial for balancing the intermittent nature of renewable energy sources like wind and solar power. <div type="Article" hostid="261" msid="111956035" title="Union Budget 2024: What FM Nirmala took from your pocket, what she gave you" mstype="2" mssubtype="0"></div> <h2>Development of <keyword id="20876045" type="General" weightage="20" keywordseo="nuclear-energy" source="keywords">Nuclear Energy</keyword></h2>Recognising the importance of nuclear energy in India's future energy mix, the government plans to invest in new nuclear technologies. The announcement also mentioned partnering with the private sector to develop and set up Bharat <keyword id="20260886" type="General" weightage="20" keywordseo="Small-Modular-Reactors" source="keywords">Small Modular Reactors</keyword>. Boasting up to a 300 MW capacity, Small Modular Reactors are mobile, flexible in design and require a smaller footprint. Unlike conventional nuclear reactors that need to be built on-site, SMRs can be factory-built. These advantages can add up to significant savings in cost and construction time. <h2>Advanced Ultra Super Critical Thermal Power Plants</h2>The Budget highlights the completion of indigenous technology development for Advanced Ultra Super Critical (AUSC) thermal power plants. These plants boast higher efficiency and will be established through a joint venture between the National Thermal Power Corporation and Bharat Heavy Electricals Limited. The initiative includes government support for fiscal needs and aims to boost local production of high-grade steel and advanced metallurgical materials. <h2>Roadmap for Hard-to-Abate Industries</h2>A significant shift is planned for industries that are difficult to decarbonise. The government will move these industries from energy efficiency targets to emission reduction targets. This transition will be regulated through the Indian Carbon Market, replacing the current 'Perform, Achieve and Trade' mode. <h2>Support for Traditional Micro and Small Industries</h2>To promote cleaner energy usage and efficiency, the government will conduct energy audits in 60 clusters of traditional micro and small industries, including brass and ceramics. Financial support will be provided to help these industries switch to cleaner energy forms and implement energy efficiency measures. This initiative will be expanded to 100 more clusters in the next phase. As per Sameer Jain, Managing Director at Primus Partners, MSMEs consume approximately 50% of the nation's power needs while generating over 75% of greenhouse gas emissions. As a result, additional support — such as climate financing — will be crucial to ensure that the MSME sector adapts well to the green revolution, especially with how the budget has committed support to MSMEs to grow and compete globally. <div type="Article" hostid="261" msid="111953230" title="Union Budget 2024-25: Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%" mstype="2" mssubtype="0"></div> <h2><keyword id="22521154" type="General" weightage="20" keywordseo="climate-resilient-crops" source="keywords">Climate-Resilient Crops</keyword></h2>The government will release 109 high-yielding and climate-resilient varieties of 32 field and horticultural crops for cultivation by farmers. With the provision of research funding, including for the private sector, this move is part of a broader strategy to enhance agricultural productivity while adapting to climate change. <div type="Article" hostid="261" msid="111957080" title="What does Union Budget 2024-2025 have in store for farmers and the agricultural sector?" mstype="2" mssubtype="0"></div> <h2>Minerals for Green Technologies</h2>To support the growing demand for minerals used in green technologies, such as cobalt and lithium, the budget proposes exemptions from custom duties for 25 critical minerals and reduction on basic customs duty for two other essential metals. This move aims to bolster the domestic manufacturing of batteries and other components crucial for electric vehicles and renewable energy technologies. <h2>Development of Climate Taxonomy</h2>A new climate taxonomy will be developed to guide the green transition, ensuring that investments and policies are aligned with the goal of reducing carbon emissions and promoting sustainable practices. All in all, the Union Budget 2024-25 sets a promising course for India's energy and sustainability sector. With substantial investments and new initiatives, it aims to accelerate the transition to a greener future, and hopefully take us a step further towards India's net-zero emissions target by 2070.

Free solar electricity to mobile nuclear plants — major sustainability initiatives announced in Budget 2024!

In response to higher-than-expected tax revenue and a record surplus transfer from the Reserve Bank of India (RBI), the Indian government is considering an 8-10% increase in <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> (capex) for the fiscal year 2025, according to Pantomath Group's quarterly report, "Market Kaleidoscope: Quarterly Market Insights." This adjustment could raise the capex from the previously allocated Rs 11.11 lakh crore, aiming to bolster infrastructure and economic growth. This fiscal boost comes as India reaches a historic financial milestone. The total market capitalization of all stocks listed on the Bombay Stock Exchange (<keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword>) briefly surpassed $5 trillion for the first time, placing India among global giants such as the US, China, Japan, and Hong Kong. India's primary market is set for a dynamic period, with 55 companies planning to raise over Rs 68,000 crore through Initial Public Offerings (IPOs). The first half of FY2025 has already seen 35 mainboard IPOs, collectively raising around Rs 32,000 crore with an average subscription rate of 61 times. The Indian market maintained a positive outlook in the first quarter of FY2025, driven by strong Q4FY24 earnings, favorable economic data, and positive global cues. Despite early June volatility following the 2024 <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> election results, market sentiment improved with the BJP securing 272 seats and a total of 292 seats for the NDA with allied support. This political stability under Prime Minister Narendra Modi's leadership is expected to promote long-term economic growth, with a focus on infrastructure, electric mobility, startup support, power distribution, digital privacy, and healthcare initiatives. Corporate India's performance in the March quarter of FY2024 met expectations, showing double-digit growth in net profit and single-digit revenue increases. Non-lending companies experienced moderate operating margin expansion due to favorable commodity prices and cost controls. The peaking interest rates and continuity of <keyword id="19978691" type="General" weightage="20" keywordseo="government-policies" source="keywords">government policies</keyword> are anticipated to support healthy corporate growth in FY2025. <h2>Growth to continue</h2>The government's push for increased <keyword id="20068449" type="General" weightage="20" keywordseo="ethanol-production" source="keywords">ethanol production</keyword> targets a 20% blending by 2026, benefiting ethanol-heavy sugar companies and promoting biofuel goals. The real estate market is projected to grow significantly, requiring Rs 14 lakh crore in debt financing from 2024 to 2026. This growth will positively impact the banking and financial sectors. Major telecom operators have raised tariffs post-election, potentially improving sector financials and paving the way for sector re-rating. Major cement players are expanding through acquisitions, with an expected 6-7% compounded growth and market dominance by the top five players by March 2025. FMCG Companies expect recovery in rural business due to factors like a normal monsoon, robust crop yields, and government measures, maintaining robust rural demand. The potential roll-out of the FAME 3 Scheme to support <keyword id="19963112" type="General" weightage="20" keywordseo="electric-vehicle-sales" source="keywords">electric vehicle sales</keyword> is anticipated, with a budgetary allocation of around Rs 10,000 crore. Sectors such as auto, cement, defence, railways, consumer durables, energy, and banking are expected to outperform. Lagging sectors like IT and specialty chemicals offer value-buying opportunities at lower levels. The structural bull market for Indian equity is supported by strong domestic fundamentals and government reforms, with a positive medium- to long-term market outlook. Globally, the US market showed resilience, except for the Dow Jones. The Federal Reserve maintained interest rates at 5.25-5.50%, awaiting inflation to move towards the 2% target before considering rate cuts. The US GDP grew at 1.4% annually in Q1 2024, with mixed economic indicators highlighting both strengths and challenges. The Indian <keyword id="19926041" type="General" weightage="20" keywordseo="IPO-market" source="keywords">IPO market</keyword> has seen significant growth, with a surge in companies seeking to list shares and a rise in capital raised. The first half of 2025 saw strong retail investor participation, reflecting confidence in India's growth prospects. Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Private Limited, said, "Favourable market conditions, high liquidity, a conducive growth environment with stable interest rates, and benign inflation have facilitated a boom in the IPO market. The IPO market will experience a stronger pull post-budget. India is set to become the new equity funding frontier for global corporations." He further added. "We are on the brink of sustained, long-term momentum in the IPO market, with this year potentially becoming the best for IPOs. India's solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant IPO market. Additionally, there is robust participation from both domestic institutional investors and retail investors." With the Indian government's potential capex increase and the robust primary market activity, the <keyword id="19948184" type="General" weightage="100" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> is poised for sustained growth. The upcoming period is expected to see heightened market activity, further IPOs, and economic stability, creating a conducive environment for investment and development.

India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

<ul><li><keyword id="6354446" type="General" weightage="20" keywordseo="BHEL" source="Orion">BHEL</keyword> is hiring ten young professionals in the area of Corporate Strategy Management Group.</li><li>The last date to apply for the opportunity is November 30, 2021.</li><li>Candidates selected for the post will be entitled to a monthly salary of ₹80,000 with reimbursement of the annual premium of ₹3,500 plus GST for mediclaim policy of the family.</li></ul><keyword id="534703" type="General" weightage="20" keywordseo="Bharat-Heavy-Electricals-Limited" source="Orion">Bharat Heavy Electricals Limited</keyword> (BHEL), a Delhi-based government-owned engineering and manufacturing enterprise is inviting applications for ten young professionals in the area of Corporate Strategy Management Group. The last date to apply for the opportunity is November 30, 2021. Candidates selected for the post will be entitled for a monthly salary of ₹80,000 with reimbursement of the annual premium of ₹3,500 plus GST for mediclaim policy of the family. The period of engagement will be one year from the date of joining, which can further be extended to one more year depending upon the completion of the assignment. However, the maximum tenure shall be limited to three years. Eligibility criteria for the role — <ol><li>Applicants should not be more than 30 years of age as of November 1, 2021. </li><li>Candidates should possess a postgraduate (PG) degree or two years of postgraduate diploma in management/engineering , which should be obtained from any of the IIMs or top 50 management institutes as per rankings released by MHRD under the National Institutional Ranking Framework (NIRF), with minimum 70% aggregate or CGPA of 7.0 out of 10. </li><li>The applicants should have a minimum of two years of work experience (as of 01st day of November 2021), which can be either prior or post to attaining a PG degree or a two-year PG diploma in management. </li></ol>The applications received by the company will be scrutinized by a committee and the shortlisted candidates may be then called for an interaction/interview, if required, by a duly constituted selection board. Job description <ol><li>Selected candidates shall assist the corporate strategy management group in supporting business incubation efforts by providing inputs regarding necessary study/research in new technological areas, the latest development taking place in advanced countries, and feasible technologies. </li><li>Scanning business opportunities in line with the country's investment plans and incentive schemes. </li><li>Monitor and evaluate progress in key targeted initiatives and need for modification in current policies/ practices of the company to achieve success in these initiatives. </li><li>Provide inputs for review meetings between top management for feedback and further implementation. </li></ol>How to apply for the opportunity? <ol><li>Candidates shall fill the online application form given at the official website of <a href="https://www.bhel.com/recruitment">BHEL</a>. </li><li>The application form should consists of the following:</li></ol>a) Letter of Interest (LoI) for the said position.b) Necessary documents to substantiate eligibility details as referred in the application form, including date of birth proof, PG &amp; graduation qualification, final mark sheet of PG (mentioning %ge or CGPA), and experience certificates. Other general rules and regulations — <ol><li>The applicant must ensure that the application form has the necessary documents/attachments. </li><li>No hard copy application shall be entertained. </li><li>Candidates/applicants, who have undergone any major punishment shall not be eligible </li><li>The attached documents shall be in legible form- i.e. the contents should be readable. Attachment of blurred/edited images will lead to disqualification of the candidature. </li><li>Applicants must keep their registered email ID active for at least 6 months as any important intimation/notice with regards to this notification shall be provided by the company through mail only. They are further requested to check their email for any communication from the company in this regard.</li></ol> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/used-car-startup-cars-24-not-in-a-hurry-for-ipo-like-droom-and-cartrade-com/slidelist/87743891.cms">INTERVIEW: The CEO of the biggest startup in the used car e-tail explains why he is skipping the 2021 IPO frenzy</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/apple-is-reportedly-developing-sportskit-framework-to-bring-sports-content-on-its-tv-platform/articleshow/87750762.cms">Apple is reportedly developing “SportsKit” framework to bring sports content on its TV platform</a>

BHEL is looking for ten post grads under 30 for jobs with salary upto ₹80,000 per month

<ul><li><keyword id="6354446" type="General" weightage="20" keywordseo="BHEL" source="Orion">BHEL</keyword> is hiring 27 medical professionals as specialists in E2 grade for its various hospitals/dispensaries in several locations.</li><li>The online application has already begun and the last date to apply is September 7.</li><li>Candidates who are interested in the opportunity will have to pay a non-refundable amount of ₹354 including tax via online mode.</li></ul><keyword id="534703" type="General" weightage="20" keywordseo="Bharat-Heavy-Electricals-Limited" source="Orion">Bharat Heavy Electricals Limited</keyword> (BHEL) is hiring 27 medical professionals as specialists in E2 grade for its various hospitals/dispensaries in these locations -- Trichy, Bhopal, Hardiwar, Hyderabad, Jhansi, Ranipet, Jagdishpur, Visakhapatnam and Delhi/NCR. The online application has already begun and the last date to apply is September 7. BHEL is a state-owned engineering and manufacturing company. Candidates who are interested in the opportunity will have to pay a non-refundable amount of ₹354 including tax via online mode (netbanking/debit card/credit card). <cmsannotation type="cmsannotation" annotationid="Educational qualification for Senior Medical Officer —" comment="subhead" text="Educational qualification for Senior Medical Officer —">Educational qualification for Senior Medical Officer —</cmsannotation> <ol><li>Candidates should hold an MBBS degree with post graduation in the specialisation recognised by Medical Council of India or State Medical Council.</li><li>The candidates should also have at least one year of experience/practice in the speciality.</li><li>Internship training shall also be considered as relevant work experience/practice.</li></ol><cmsannotation type="cmsannotation" annotationid="Other general Instructions —" comment="subhead" text="Other general Instructions —">Other general Instructions —</cmsannotation> <ol><li>The maximum age of the candidate should be 37 years as on August 1, 2021.</li><li>Applicants should possess sound health as each candidate will have to go under a medical examination before joining. No relaxation will be allowed on health standards.</li><li>After joining, no request for transfer or change in place of posting shall be entertained for the first five years of service unless the candidate is transferred by the company in organisational interest.</li><li>No candidates will be entertained who are not invited for the interview.</li><li>Candidates are advised to regularly check their email id for latest updates.</li></ol>Interested candidates can fill out the online form <a href="https://www.bhel.com/recruitment">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/el-salvadors-bitcoin-experiment-kicks-off-in-less-than-a-week-but-the-protests-against-the-cryptocurrency-are-on-the-rise/articleshow/85767836.cms">El Salvador’s Bitcoin experiment kicks off in less than a week — but the protests against the cryptocurrency are on the rise</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/sumit-antil-clinches-indias-second-gold-in-paralympics-with-a-world-record-in-javelin-throw/articleshow/85766060.cms">Sumit Antil clinches India's second gold in Paralympics with a world record in javelin throw</a>

BHEL is looking for medical professionals across various states in India

<ul><li>The Indian government has pushed through a stack of defence projects to the tune of $1.2 billion on August</li><li>This comes after the Defence Acquisition Council (DAC) had already approved arms projects worth $5.5 billion last month. </li><li>The biggest beneficiary, <keyword id="86569" type="COMPANY" weightage="20" keywordseo="Hindustan-Aeronautics-Limited">Hindustan Aeronautics Limited</keyword> (HAL), saw its share price jump by over 4% as markets opening today morning. </li><li>The entire $1.2 billion will be spent on the domestic industry with companies like Hindustan Aeronautics Limited (HAL) and <keyword id="534703" type="COMPANY" weightage="20" keywordseo="Bharat-Heavy-Electricals-Limited">Bharat Heavy Electricals Limited</keyword> (BHEL) reaping the benefits.</li></ul>India is spending another ₹8.7 lakh crore ($1.2 billion) on defence projects after having already having approved ₹38.9 lakh crore ($5.5 billion) for arms projects last month. <div type="Article" hostid="261" msid="77098939" title="New drones, Rafale fighter jets, tanks and much more — India-China border dispute has lit a fire to upgrade military technology" mstype="2" mssubtype="0"></div> Last time around the lion’s share of the capital— around ₹31.1 lakh crore ($4.44 billion) — was directed towards the domestic industry. This time the entire amount is going to local manufacturers like Hindustan Aeronautics Limited (HAL) and Bharat Heavy Electricals Limited (BHEL). HAL's share price saw a jump over 4% as markets opened today morning. <div type="image" title="HAL share price" msid="77497628" hostid="261" caption="&amp;lt;p&amp;gt;HAL&amp;#39;s share price since July&amp;lt;/p&amp;gt;"></div> BHEL's share price on the other hand remained muted showing a marginal uptake of over 1%. <div type="image" title="BHEL share price since July" msid="77497651" hostid="261" caption="&amp;lt;p&amp;gt;BHEL share price since July&amp;lt;/p&amp;gt;"></div> The projects approved by the Defence Acquisition Council (<a href="https://pib.gov.in/PressReleseDetail.aspx?PRID=1645092">DAC</a>) in its meeting today headed by India’s Defence Minister Rajnath Singh include new aircraft, more firepower for the <keyword id="6355100" type="ORGANIZATION" weightage="20" keywordseo="Indian-Navy">Indian Navy</keyword>, as well as approvals that will speed the procurement and upgrades of unmanned aerial vehicles (UAVs). The <keyword id="15141" type="ORGANIZATION" weightage="20" keywordseo="Indian-Air-Force">Indian Air Force</keyword> (IAF) needs more eyes in the sky In July, the DAC approved the proposal to procure 21 new MiG-29 aircraft along with upgrading the existing 59 already enlisted with the Air Force. It also sanctioned buying 12 new Sukhoi-20 MK I aircraft. Pushing on the narrative of Athmanibhar Bharat, self-reliant India, the government has put an order for 106 of the newly developed Basic Trainer Aircraft from HAL. Initially, 70 of these jets will be inducted to meet the IAF’s training requirements once they receive the required certification. The remaining 36 will be picked up once the HTT-40 fleet — another trainer aircraft that HAL invested ₹550 crore to develop — is operational. Increasing the Indian Navy’s firepower Other than, the primary beneficiary of the DAC’s project approval is BHEL. The government has approved the procurement of an upgraded version of the Super Rapid Gun Mount (SRGM). It is the main fun onboard Navy and Indian Coast Guard warships. According to the government, the upgraded version of the SRGM will increase the capabilities of the warships to manoeuvre against fast-moving targets like missiles. It will also enhance the engagement range of the guns. The <keyword id="6354416" type="ORGANIZATION" weightage="20" keywordseo="Indian-Army">Indian Army</keyword> won’t be left out of the fray. It will be getting new 125 mm Armour Piercing Fin Stabilised Discarding Sabot (APFSDS) ammunition. 70% of the product will be made in India and the ammunition will be brought in under a ‘design and development case’. Other approvals are aimed at speeding up the procurement of Indo-Russian AK 203 guns and push through faster upgrades for UAVs. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/tcs-tech-mahindra-hcl-tech-and-wipro-could-gain-from/articleshow/77478306.cms">India's armed forces are potential clients for TCS, Tech Mahindra, HCL Tech and the likes</a> <a href="https://www.businessinsider.in/defense/news/heres-a-full-list-of-weapons-that-indias-defence-sector-can-get-from-local-companies/slidelist/77459796.cms">List of weapons that India can make at home — and the ones it cannot</a> <a href="https://www.businessinsider.in/defense/news/indias-defence-ministry-introduces-import-embargo-on-101-items-to-boost-atmanirbhar-bharat-abhiyan/articleshow/77442031.cms">India’s Defence Ministry introduces “import embargo” on 101 items to boost Atmanirbhar Bharat Abhiyan</a>

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