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The central government has prohibited as many as 156 <keyword id="22893276" type="General" weightage="20" keywordseo="combination-drugs" source="keywords">combination drugs</keyword> that are often administered as painkillers, multivitamins, and antibiotics, for fever and cold, among others. In a gazette notification dated August 21, the government said that the use of the drug Fixed Dose Combination of Amylase, Protease, Glucoamylase, Pectinase, Alpha Galactosidase, Lactase, Beta-Gluconase, Cellulase, Lipase, Bromelain, Xylanase, Hemicellulase, Malt diastase, Invertase, Papain is likely to involve risk to human beings whereas safer alternatives to the said drug are available. Upon recommendations of the <keyword id="20092000" type="General" weightage="20" keywordseo="Drugs-Technical-Advisory-Board" source="keywords">Drugs Technical Advisory Board</keyword>, the central government, in the greater interest of the public, has prohibited the manufacture for sale, sale, and distribution for human use of those drugs across the country with immediate effect. The move from the government comes after the matter was examined by an expert committee appointed by the central government, and the said expert committee considered the administration of this Fixed Dose Combination as "irrational". The Drugs Technical Advisory Board also examined the said FDC and recommended that "there is no therapeutic justification for the ingredients contained in this FDC. The FDC may involve risk to human beings. Hence in the larger public interest, it is necessary to prohibit the manufacture, sale or distribution of this FDC under section 26 A of the Drugs and Cosmetics Act 1940. In view of above, any kind of regulation or restriction to allow for any use in patients is not justifiable," the notification read. The list of banned drugs also includes drugs used for hair treatments, antiparasitic, skincare, anti-allergic. The medicines combined in more than one drug in a single pill are Fixed dose combination drugs FDC, these drugs are also known as cocktail drugs. The Indian Pharmaceutical Alliance supports the decision of the government. Sudarshan Jain, Secretary General, IPA told that, "this has been going for many years and there was a committee which reviewed the whole thing... This is a right step in the interest of patients and all aspects have been taken into consideration." "They have given the opportunity to give the data to support their products, so the right products will continue and when there is no data to support then companies have to withdraw it," Jain added. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

India bans 156 commonly used combination drugs citing possible risks to humans

Donald <keyword id="19906203" type="General" weightage="20" keywordseo="Trump" source="keywords">Trump</keyword> and <keyword id="19903807" type="General" weightage="100" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword> have apparently become great friends over recent months. Musk poured millions of dollars into Trump's successful election campaign and has been a vocal and visible supporter of the president-elect. In return, he's been given a new job, in joint charge of the new <keyword id="23593857" type="General" weightage="20" keywordseo="Department-of-Government-Efficiency" source="keywords">Department of Government Efficiency</keyword> (Doge), where he will be tasked with streamlining government operations and reducing bureaucracy. This "department"—actually an advisory group—will aim to cut unnecessary spending and make the general functioning of the US government more efficient. The idea is that within a federal budget of over US$6 trillion, there are opportunities to make some big savings. Musk's appointment—like many things he's involved with—has sparked controversy. The richest man in the world has already said he wants to cut spending by US$2 trillion (£1.6 trillion) and mentioned setting up a "leaderboard for most insanely dumb spending of your tax dollars.". Some are concerned about the impact he could have on public services. Others fear he will use his position to promote his own business interests. On the positive side, Musk has a very impressive CV when it comes to big organisations. He has created (or co-created) multi-billion-dollar businesses, including Paypal, <keyword id="19895433" type="General" weightage="20" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword>, and <keyword id="19905255" type="General" weightage="20" keywordseo="SpaceX" source="keywords" meta.keywordsubtype="org" meta.entityname="SpaceX" meta.hostid="261" meta.entityid="SpaceX">SpaceX</keyword>. He has founded startups involved in AI (xAI), tunnelling (the Boring Company), and medicine (<keyword id="19985233" type="General" weightage="20" keywordseo="Neuralink" source="keywords" meta.keywordsubtype="org" meta.entityname="Neuralink" meta.hostid="261" meta.entityid="Neuralink">Neuralink</keyword>). And research suggests that much of Musk's success comes down to a relentless focus on efficiency. He has also been praised for the depth of his analytical thinking and innovative problem solving. Tesla's factory in California went from being the least productive car manufacturing plant in the US when it was owned by General Motors to the most productive under Musk's ownership. SpaceX has vastly reduced costs in the space cargo business. So he has form. And Musk is not the first American business leader to offer private sector expertise to the world of politics. Back in the 1960s, Robert McNamara, former president of the Ford Motor Company, served as secretary of defence under presidents John F. Kennedy and Lyndon B. Johnson. McNamara brought significant innovations to <keyword id="22668770" type="General" weightage="20" keywordseo="government-efficiency" source="keywords">government efficiency</keyword> that drew on his corporate experience. He championed cost-benefit analysis and a data-driven approach to decision-making and was keen on reducing bureaucracy and promoting accountability in complex governmental processes. To achieve this, McNamara recruited a team of experts from the worlds of academia and business. Known as the "Whizz Kids," they brought new perspectives to the White House. In the UK now, the Labour government's minister of state for investment is Poppy Gustafsson, a former venture capitalist and tech founder. Its minister for prisons is James Timpson, former CEO of the Timpson Group, a family firm renowned for hiring ex-offenders. These people—and there are many other examples around the world—were brought into the political sphere because of the knowledge and vision they have demonstrated in the private sector. The hope is their talent and leadership will improve policy and practice. <h2>Data-driven reform</h2>The same must be hoped for Musk: that with his co-leader, Vivek Ramaswamy—a biotech entrepreneur and former Republican leadership candidate—he will bring expertise in cost-cutting and innovative strategies. This will probably include comprehensive audits and data-driven approaches to reform. Critics refer to prior examples of Musk's approach, such as the mass layoffs and aggressive cost-cutting measures at Twitter (now X), with concerns that there could be similarly drastic reductions in the federal workforce and public services. But big job cuts were happening across the tech sector at that time. They came in the wake of reduced revenues and a need to reduce bloated workforces and ineffective functions—not unlike the challenges faced by the US government. Nevertheless, while proponents see Musk as an experienced leader capable of streamlining bureaucracy, sceptics fear the advent of harmful austerity measures that risk disruption to essential public programs. Concerns have also been raised about potential conflicts of interest, as Musk's business empire benefits from government contracts. However, since Doge will operate as an advisory body, concerns over him gaining advantage through any self-dealing seem overblown. Besides, two of Musk's companies (SpaceX and Tesla) have been awarded US$15.4 billion (£12.3bn) in federal contracts in the last decade. Perhaps then, success precedes influence rather than the reverse? Doge will also be governed by the Federal Advisory Committee Act, which maintains legal and ethical guardrails. And Congress will have the final say over any decisions. Fears of the worst possible outcome to Musk's appointment are a natural human response in the face of uncertainty. It is part of the reason that negative headlines get more clicks than positive ones. It is also true that Musk has aligned himself with a politician who divides opinion like few others. By leveraging his billions of dollars and 200 million followers on X to help Trump to victory, he made it clear which side he was on. And in a highly polarised US political landscape, the anguish about his governmental role may be little more than a knee-jerk reaction from the millions of people whose side he did not choose.

Love him or loathe him, Elon Musk is a champion of efficiency and could save the US government a fortune

<ul class="summary-list"><li>The Department of Government Efficiency wouldn't be a department, but an outside advisory group.</li><li>Under current law, Congress needs to approve most budget changes, limiting the DOGE's power.</li></ul>President-elect Donald Trump on Wednesday announced a new effort to slash what he sees as federal inefficiency, with Elon Musk as cost-cutter-in-chief.Trump <a target="_blank" href="https://www.businessinsider.com/elon-musk-trump-cabinet-election-x-2024-9">made good on a campaign promise</a> when he tapped Musk to co-lead the proposed "Department of Government Efficiency," or DOGE, alongside former GOP presidential candidate Vivek Ramaswamy.Musk says he wants to cut $2 trillion from the federal budget to make it more efficient and effective. Beyond that, though, little is known about how the DOGE will function and how much power it — <a target="_blank" href="https://www.businessinsider.com/trump-adopts-elon-musk-plan-cut-government-spending-efficiency-reform-2024-9">and Musk</a> — will have.Musk did not respond to Business Insider's request for comment for this article. A representative for Ramaswamy declined to comment.<h2 id="2dc0c03e-9977-4403-9201-3d55e844524d">What do we know about the DOGE?</h2>Despite its name, the DOGE will <a target="_blank" href="https://www.businessinsider.com/elon-musks-doge-gets-a-government-checkmark-on-x-2024-11">not actually be a government department</a>, as departments are permanent and can only be created by Congress. Instead, it will function "outside of the government" and disband by July 4, 2026, Trump said in a statement.<div type="image" title="Trump and Musk at a rally" height="2584" width="4184" msid="115360794" hostid="261" sizebytes="161264"></div>The name DOGE is an homage to Musk's preferred cryptocurrency, Dogecoin, which shot up in value after Trump won the election. Under current law, the DOGE might not be able to accomplish much, since Congress controls federal spending."They have no power. No power at all," Elaine Kamarck, a senior fellow at the nonpartisan Brookings Institute who led efforts to reform the federal government under former President Bill Clinton, told Business Insider. "They do make recommendations, and once they make recommendations, the expectation is that the government will act on them."There's no guarantee that a recommendation will turn into a policy, especially given that many of the DOGE's suggestions will likely require congressional approval, Kamarck said.<h2 id="0f11a880-6c1f-4025-a722-a860ae33d16c">The DOGE's $2 trillion goal is something of a pipe dream.</h2>Federal spending <a target="_blank" href="https://www.businessinsider.com/trump-elon-musk-vivek-ramaswamy-department-government-efficiency-doge-2024-11">reached $6.75 trillion in 2024</a>. Multiple experts told BI that it's unlikely Musk will be able to cut his desired $2 trillion without sacrificing programs that have wide bipartisan support or fall under federal mandatory spending, like Medicare and Social Security. Kamarck called the $2 trillion goal the "most unrealistic" part of the whole DOGE plan.Trump has long been preoccupied with cutting what he sees as Washington's waste and fraud."The Department of Government Efficiency (DOGE) will ultimately be staffed and dedicated to this mission," Brian Hughes, a spokesperson for Trump's transition team, told BI in a statement.Quoting former Rep. Barney Frank, Kamarck said that excess federal spending is "marbled" <a target="_blank" href="https://www.businessinsider.com/elon-musk-vivek-ramaswamy-doge-government-efficiency-what-us-spends-2024-11">throughout the budget</a>, like fat throughout a steak, making the DOGE's desired $2 trillion in cuts tricky."It just doesn't work, unless you decide to start cutting Social Security benefits or Medicare, at which point all hell breaks loose," she told BI. "And you know, the bromance between Trump and Musk will end very quickly."Known for <a target="_blank" href="https://www.businessinsider.com/elon-musk-efficiency-companies-tesla-spacex-x-2024-11">streamlining efficiency at his companies</a>, Musk says he wants to cut bureaucracy, shrink the federal workforce, and trim the number of federal agencies down to no more than 99 (there are currently <a target="_blank" href="https://www.federalregister.gov/agencies">more than 440</a>).Douglas Holtz-Eakin, the former director of the Congressional Budget Office, told BI that he doubted that the loosely defined group would be able to accomplish much given its sprawling $2 trillion target."It is hard for me to get seriously ginned up about it until there's a real structure there that suggests that this makes some sense and has a purpose," he said. "If something is designed to do everything, it will do nothing."<h2 id="6bcaf431-1be5-4839-9b83-d0f24a7146cf">The DOGE will exist "outside of government."</h2>In one scenario, the DOGE could function as an advisory committee, which Trump can create through an executive order. The president-elect said the DOGE will work with the Office of Management and Budget, which prepares the president's budget request for Congress."They have made clear that this is a non-governmental department, which is not a familiar term, and so it's not really clear how the organization will operate because of that," Lisa Gilbert, co-president of the progressive nonprofit advocacy group Public Citizen, told BI. "It might be an advisory committee of non-governmental actors, but even from that posture, it won't have the authority to alter budgets or fire employees or rescind regulations."<div type="image" title="Donald Trump and Elon Musk" height="1910" width="2707" msid="115360796" hostid="261" sizebytes="118134"></div>Kamarck said that there are specific rules laying out how much interaction external committees can have with the government, but it's not clear how Trump, Musk, and Ramaswamy envision the <a target="_blank" href="https://www.businessinsider.com/elon-musk-doge-hiring-staff-how-to-apply-2024-11">internal infrastructure of the DOGE</a>."How are they going to talk to each other? How are they going to meet with each other? Are they going to go talk to anybody in the government, or are they just going to make up things from 50 miles away?" she said.On November 14, the DOGE <a target="_blank" href="https://x.com/DOGE/status/1857076831104434289">said in a post on X</a> that it is seeking "super high-IQ small-government revolutionaries willing to work 80+ per week on unglamorous cost-cutting." Musk said on his <a target="_blank" href="https://x.com/elonmusk/status/1857112441529700671">personal X account</a> that the positions will not be paid.<h2 id="4c25da3e-39de-44e2-a1c5-c7249f9fc728">Trump has talked about changing a key law that limits his federal spending power.</h2>Trump, Musk, and Ramaswamy may try to circumvent the congressional obstacles standing in the way of their cost-cutting agenda. Last year, Trump expressed interest in going after the Impoundment Control Act, a 1974 provision that requires the president spend funds that Congress has appropriated."Bringing back Impoundment will give us a crucial tool with which to obliterate the Deep State, Drain the Swamp, and starve the Warmongers," the president-elect <a target="_blank" href="https://www.donaldjtrump.com/agenda47/agenda47-using-impoundment-to-cut-waste-stop-inflation-and-crush-the-deep-state">said in a video</a> in June 2023.Holtz-Eakin said attempting to skirt the impoundment act would be like rewriting history, and Kamarck told BI that any attempt to not spend money that Congress has appropriated poses big Constitutional questions."If he tries to change the law so that he can impound funds, my guess is there'll be a fight in the Congress and he'll lose," she said.<h2 id="4956dc95-91da-4028-b1b3-d843a1509397">Musk could bump up against many conflicts of interest but likely wouldn't have to divest from his companies.</h2>If the DOGE is a federal advisory committee, Musk and Ramaswamy would likely be "special government employees," who are experts or consultants that can work for a federal agency or the White House for up to 130 days. They do not get paid and, crucially, would not have to divest from their companies."They've been clear also that they're staying in their roles as the heads of companies and in other places," Gilbert said. "Not being a part of government means they don't have to deconflict themselves."In a press release for Public Citizen, Gilbert said that Musk's "own businesses have regularly run afoul of the very rules he will be in position to attack" as the DOGE co-lead.<div type="image" title="Donald Trump and Vivek Ramaswamy" height="5504" width="8256" msid="115360795" hostid="261" sizebytes="4296554"></div>In the role, Musk and Ramaswamy would still be bound to federal ethics laws and have to recuse themselves from conversations that affect them personally, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-11-14/doge-what-can-musk-do-with-the-department-of-government-efficiency?srnd=homepage-americas">Bloomberg</a> reported. With his companies under investigation from at least 20 federal regulatory agencies and SpaceX having more than $15 billion in federal contracts, Musk could face many such conflicts.Kamarck said that there's no "firm line" about when employees need to take themselves out of discussions, but that lawyers address questions on a case-by-case basis.Musk has expressed public frustration with what he views as overbearing federal oversight, which he said has <a target="_blank" href="https://www.nytimes.com/2024/11/12/us/politics/elon-musk-vivek-ramaswamy-trump.html">slowed down his pace of business</a>.By law, meetings of advisory committees, like the kind the DOGE could be, need to be open, and Musk has no problem with the <a target="_blank" href="https://www.businessinsider.com/elon-musk-doge-leaderboard-federal-government-spending-trump-2024-11">transparency</a> — in fact, he seems to invite it. In a post on X, the billionaire promised to post all of the group's actions online <a target="_blank" href="https://www.businessinsider.com/elon-musk-leaderboard-government-spending-marketing-genius-doge-donald-trump-2024-11">"for maximum transparency</a>" and said the public should chime in with their opinions.It's also possible the group might intentionally avoid becoming a federal committee because of the increased oversight and scrutiny, Holtz-Eakin said."It's not a federal committee as far as I can tell," he said. "I think that's deliberate. If you do that, then you're subject to lots of things like a conflict of interest you have to sign off on, and I think that would be a nightmare for Mr. Musk. And so they're not going to let it tiptoe toward federal jurisdiction."Until Trump actually forms the DOGE, if he ever does, the legal and bureaucratic details remain murky, and the experts BI spoke with aren't convinced that it will work well."It sounds a little screwy, frankly," Kamarck said.

How Elon Musk's Department of Government Efficiency could actually work

Last week, Donald Trump announced the creation of the <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-department-of-government-efficiency-donald-trump-ramaswamy-2024-11">Department of Government Efficiency</a>, which promises to "dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies." And to run the new cost-cutting department, Trump tapped the businessman he calls the world's "greatest cutter" — <a target="_blank" class="" href="https://www.businessinsider.com/gop-senator-waste-list-influence-elon-musk-spending-cuts-2024-11">Elon Musk</a>.If you're looking to take a chainsaw to the federal government, Musk seems perfectly suited to the job. At <a target="_blank" class="" href="https://www.businessinsider.com/twitter-x-elon-musk-startup-competitition-town-square-election-2024-10">Twitter,</a> he eliminated a staggering 80% of the staff — over 6,000 people. At <a target="_blank" class="" href="https://www.businessinsider.com/tesla-salary-database-elon-musk-pay-strategy-2024-11">Tesla</a>, he cut 10% of the workforce, saying the company needed to be "absolutely hardcore about headcount and cost reduction." He also laid off 10% of employees at <a target="_blank" class="" href="https://www.businessinsider.com/spacex-jared-isaacman-interview-polaris-dawn-space-walk-2024-11">Space X</a>, insisting his teams need to be scrappy and nimble. Cutting, for Musk, is generally Job No. 1.For the most part, Musk's slash-and-burn tactics have paid off. Twitter usage, according to Musk, is at an all-time high. Tesla's stock is up 28% over the past year. And SpaceX — now valued at $250 billion — is grabbing rockets out of the sky with <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-spacex-starship-landing-super-heavy-2024-10">giant chopsticks</a>. In the world of business, fewer workers often translate into higher profits.The question is: Can the cost-cutting tactics Musk has employed in the private sector work to corral waste and bloat in the federal government? Musk and his DOGE cochair, the biotech billionaire <a target="_blank" class="" href="https://www.businessinsider.com/why-elon-musk-cutting-federal-spending-could-work-2024-11">Vivek Ramaswamy</a>, have said they're looking to hire "super high-IQ small government revolutionaries" to help make $2 trillion in cuts — about a third of all federal spending — and to slash the federal workforce by as much as 75%. It's a dream that has eluded every Republican administration since Ronald Reagan — and it's one that may prove elusive even for Musk, the man now anointed as America's cost-cutter in chief.There's certainly no shortage of waste and inefficiency in the federal government that cries out to be streamlined. In 2019, the Defense Department forked over $22 million for lobster tails. In 2020, the IRS sent $1.4 billion in tax refunds to dead Americans. Millions of square feet in federal buildings sit unoccupied.In theory, a bold, outside figure like <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-donald-trump-elected-shadow-president-2024-11">Musk</a> could be the very thing needed to downscale an operation as vast and intractable as the federal government. Large organizations need a force of "creative destruction" to change, says Michael Morris, a professor at Columbia Business School. "Things don't go away on their own. You have to have somebody with a willingness to deliberately dismantle things if you're going to have innovation." And when a new figure institutes a massive shock to the system — whether at the government or private level — "it often backfires," says Morris. "There's often very fierce, active resistance to change." As <a target="_blank" class="" href="https://www.businessinsider.com/joe-biden-corporate-gerontocracy-aging-ceos-retirement-succession-replacement-2024-8">CEO</a>, Musk has the latitude to push past that resistance and overhaul company culture. But things are going to be different with DOGE. Despite its branding as a "department," the new outfit will operate only in an advisory capacity: Congress holds the ultimate responsibility for authorizing spending and <a target="_blank" class="" href="https://www.businessinsider.com/doge-how-to-apply-dm-job-application-elon-musk-2024-11">eliminating agencies</a>. Government, by design, is an intensely collaborative process, intended to hammer out the competing needs of different constituencies. Musk, by contrast, is accustomed to ruling by fiat."Musk certainly exercises a great deal of control in his companies that he won't have in the environment of the federal government, where we have checks and balances," says Andy Wu, an associate professor of business administration at Harvard Business School. "Even if Musk had the right idea for things, it's not so clear he could implement any of them."The federal government is infamous for holding on to past practices, even when they no longer make sense. Linda Bilmes, a senior lecturer in public policy at the Harvard Kennedy School, cites the continued minting of the penny, each of which costs three cents to produce. Last year, in an economy that has largely moved away from cash, the government spent $179 million forging pennies and nickels. Yet past calls to get rid of the penny haven't amounted to one red cent."The danger is if Elon Musk were to somehow think he is the first person who has ever looked at cost cutting in government," says Bilmes. "Many people who know a lot about government have proposed many good ideas. The potential for usefulness would be if he could take some already reasonably good ideas and help them get implemented."The <a target="_blank" class="" href="https://www.businessinsider.com/watchdog-dod-must-speed-up-weapons-deliveries-to-maintain-advantage-2024-6">Government Accountability Office</a> and inspectors general have already recommended a variety of potential targets. They aren't always flashy: This year, the GAO recommended agencies use predictive models to schedule maintenance, saying they could save $100 million or more. It also urged the IRS to focus on collecting taxes owed by sole proprietors, which could generate hundreds of millions of dollars in revenue. If the government implemented all 5,480 of its suggestions, the GAO estimated, it would "produce measurable financial benefits" of up to $208 billion.But so far, Musk has seemed more interested in the kind of flashy, small-bore proposals that attract clicks on X. He's taken to resharing what he sees as examples of waste — everything from $3 million spent on drug research that involved watching "hamsters fight on steroids" to a $20,000 grant that funded drag shows in Ecuador — and crowdsourcing them on the platform. Those sorts of items might generate outrage on <a target="_blank" class="" href="https://www.businessinsider.com/twitter-donald-trump-elon-musk-2024-11">Fox News</a>, but eliminating them won't do much to trim the federal government's $6,200,000,000,000 in annual spending.Then there's the politics of budget cutting. The last time Republicans succeeded at slowing government spending, under <a target="_blank" class="" href="https://www.businessinsider.com/reagan-secret-service-agent-says-trump-shooting-failure-for-agency-2024-7">Ronald Reagan</a>, they made deep cuts to areas of government that proved unpopular — including social welfare programs, student loans, and job training. Musk may see plenty of areas he'd like to slash, but a wide range of constituencies will inevitably push back against cuts to programs they consider essential. When it comes to federal spending, one person's waste is another person's bread and butter."People support the idea of improving how the government delivers services," says Joel Friedman, the senior vice president for federal fiscal policy at the Center on Budget and Policy Priorities, a progressive think tank. "I think people would take a different view if you end up gutting programs they depend on and care about." Efficiency always sounds like a good thing, until it comes for something you love.Beyond the question of where to cut, Musk will face intense scrutiny over why he's targeting certain areas of government. His role at DOGE is rife with the potential for conflicts of interest. SpaceX, for example, has received nearly $20 billion in federal contracts since 2008, and Musk has been sharply critical of the Federal Aviation Administration, viewing it as an obstacle to launching his powerful <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-spacex-starship-rocket-milestone-election-2024-10">Starship</a>. And his massive investments in electric vehicles and social media are dependent on all sorts of federal spending and oversight. When it comes to how the government interacts with the marketplace, the world's richest man inherently has a lot of skin in the game. Musk's companies did not respond to requests for comment. But Brian Hughes, a spokesperson for Trump's transition team, says it plans to ensure that those involved with DOGE "are compliant with all legal guidelines related to conflicts of interest."Those concerns also touch on the larger question of what Trump and his allies hope to accomplish by reducing the size of government. Calls for reducing "inefficiency" and "bureaucracy" have long been a euphemism for Republicans eager to reduce or eliminate federal oversight of everything from industrial pollution to airline safety. Less government is not necessarily better government, and there are plenty of federal agencies that remain so understaffed and underfunded, from the IRS to the Veterans Administration, that they're unable to perform even their most basic functions. The GOP's aim of cutting spending, a leading Reagan ally once acknowledged, is to shrink government to the size where conservatives can "drag it into the bathroom and drown it in the bathtub." On Friday, Ramaswamy directly linked DOGE to the Reagan-era dream of smaller government, promising that the new agency will finish its work by July 4, 2026 — the 250th anniversary of the Declaration of Independence.And even when conservatives have succeeded at cutting costs, it's done nothing to slow the pace of government spending. Reagan slashed $22 billion in social welfare programs during his first two years in office — savings that were more than offset by his tax cuts and military spending, which nearly tripled the national debt. And in 1981, when a deep recession hit, carving up the safety net left the millions of Americans who were mired in poverty with even fewer resources to get by.It's also important to remember that Musk did more than downsize X — he also used the platform to elevate far-right talking points and unfounded conspiracy theories. In short, he reshaped it to serve his own political ends, making it meaner as well as leaner. It remains to be seen if Musk will do the same with DOGE. There are plenty of places where Uncle Sam could spend America's hard-earned tax dollars more wisely. But there are also plenty of places where the man Trump's family now refers to as "Uncle" Elon could deploy what DOGE calls "unglamorous cost-cutting" to bend the federal government to serve his own financial needs.Musk has acknowledged that Americans will feel "hardship" as a result of the cuts he wants to see implemented. But that doesn't mean he won't be able to juice more performance out of fewer resources, as he did at his own companies. When Musk slashed the workforce at Twitter, critics predicted that the app would collapse without enough staff to maintain it. Two years later, after a few initial glitches, it works much the same as before — at a far lower cost. Doubting Musk, even when he seems to be operating at his most extreme, can be a fool's game.<a target="_blank" rel="" class="" href="https://www.businessinsider.com/author/amanda-hoover">Amanda Hoover</a> is a senior correspondent at Business Insider covering the tech industry. She writes about the biggest tech companies and trends.

Elon Musk downsized Big Tech. Can he do the same to Big Government?

Market watchdog SEBI has come out with a consultation paper in a bid to ease the functioning of <keyword id="22476006" type="General" weightage="100" keywordseo="ESG-Rating-Providers" source="keywords">ESG Rating Providers</keyword> (ERPs), pushing for the development of a <keyword id="23760035" type="General" weightage="20" keywordseo="subscriber-pays-model" source="keywords">subscriber-pays model</keyword>. As of July 2024, nine ERPs are registered with SEBI to operate in the country. These include <keyword id="23760037" type="General" weightage="20" keywordseo="CRISIL-ESG-Ratings" source="keywords">CRISIL ESG Ratings</keyword> &amp; Analytics, ESG Risk Assessments and Ratings, GlobeTrend Climate Impact Institutional Investor Advisory Services, <keyword id="23760038" type="General" weightage="20" keywordseo="NSE-Sustainability-Ratings" source="keywords">NSE Sustainability Ratings</keyword> and Analytics, PGS Impact, Pragati Development Consulting, CARE ESG Ratings, and SES ESG Research. Per the paper's proposal, ERPs won't be required to disclose ESG (environmental, social, and governance) ratings to the bourses, provided they confirm that there is no non-public information that could potentially affect the rating. Another proposal was the simultaneous sharing of the ESG rating reports both to the rated companies and to the subscribers who pay to access these reports. ERPs should ensure that rated entities, their group companies, or associates cannot subscribe to their own ESG ratings, SEBI said in its consultation paper. Some of the other suggestions put forth by SEBI include: 1. Companies will have a specific timeframe to respond to the ESG report, and any such comments should be included in the report as an addendum. 2. In case the ERP does not agree with the remarks issued by the rated company, they can add their comments to the report as well. 3. ERPs can rate unlisted issuers or other products, provided they meet specific guidelines from relevant regulators. SEBI is receiving public comment on these proposals until November 15, 2024. <h2>Steady returns </h2>Of the 11 ESG mutual fund schemes available to Indian mutual fund investors, the Quant ESG Equity fund has generated the highest returns of about 45.44% over one year, data from ValueResearch showed. Simply put, had you invested Rs 10,000 every month in this fund for three years, you would have accumulated a corpus of Rs 5,47,525. Over three years, the returns on this fund come to around 26%. This was followed by the ICICI Pru ESG Exclusionary Strategy fund, which yielded 44.73% returns over the same period. However, over ultra-short terms, i.e., 1-3 months, ESG funds have largely delivered negative returns, underscoring their suitability only as a long-term investment avenue. Only the SBI ESG Exclusionary Strategy Direct Fund and Quantum ESG Best In Class Strategy Direct Fund have been around for 5 years, during which they have generated returns of about 16.67% and 18.7%, respectively. <keyword id="23760036" type="General" weightage="20" keywordseo="ESG-mutual-funds" source="keywords">ESG mutual funds</keyword> typically select and invest in companies that are ESG-compliant, i.e., who weave in environmental conversation, social welfare, and robust <keyword id="20392393" type="General" weightage="20" keywordseo="corporate-governance" source="keywords">corporate governance</keyword> practices into their working philosophy and work ethos, while simultaneously generating decent financial returns for stakeholders as well.

SEBI mulls measures to facilitate ease of doing business for ESG Rating Providers (ERPs)

London: Universities and student groups on Tuesday urgently lobbied British Prime Minister <keyword id="19906889" type="General" weightage="20" keywordseo="Rishi-Sunak" source="keywords">Rishi Sunak</keyword> to safeguard the country's <keyword id="21659184" type="General" weightage="100" keywordseo="post-study-visa" source="keywords">post-study visa</keyword> offer, which has been dominated by Indians to gain work experience for around two years at the end of their university degree. Amid reports that Sunak is considering either restricting or ending the <keyword id="20616105" type="General" weightage="20" keywordseo="Graduate-Route" source="keywords">Graduate Route</keyword> to curtail soaring migration statistics ahead of a general election, a group of nearly 30 university vice-chancellors and the <keyword id="21760521" type="General" weightage="20" keywordseo="national-indian-students-and-alumni-association" source="keywords">National Indian Students and Alumni Association</keyword> (NISAU) UK have issued detailed letters of appeal to 10 Downing Street. They list a series of factors in favour of keeping the Graduate visa scheme unchanged, including the benefits that international students bring to the UK economy in a competitive global higher education marketplace. "Modelling by consultancy London Economics shows that a single cohort has a net economic benefit of GBP 37 billion to the UK economy; as well as through the soft power that Britain's international graduates generate for the country over time, including through furthering ties of trade and diplomacy," reads the NISAU UK letter addressed to Sunak. "Indeed, 70 per cent of <keyword id="19971660" type="General" weightage="20" keywordseo="Indian-students" source="keywords">Indian students</keyword> have told us that the ability to gain meaningful work experience is a critical element in their decision to choose between competing international destinations, of which the UK is one... the Graduate Route allows the opportunity to gain this work experience for a temporary period. It is non-extendable and does not count towards permanent settlement. This means that neither students nor Graduate visa holders should be considered 'immigrants' in the context of the long-term picture of migration," it notes. Their appeal comes a week after the influential <keyword id="20609895" type="General" weightage="20" keywordseo="Migration-Advisory-Committee" source="keywords" meta.keywordsubtype="org" meta.entityname="Migration Advisory Committee" meta.hostid="83" meta.entityid="Migration Advisory Committee">Migration Advisory Committee</keyword> (MAC) advised the government to let the scheme continue as it found no abuse of this post-study work offer. It also confirmed that Indians topped its tally, accounting for 89,200 visas between 2021 and 2023, or 42 per cent of the overall grants, and were likely to be "most affected by any restriction on the Graduate Route". In their letter to Sunak, universities in the north of England — from Sunderland to Sheffield, Leeds to Lancaster, Liverpool to Teesside, Bradford to Huddersfield, and York to Newcastle — said they will all be harmed by the removal or reduction of this visa as it is an "intrinsic part of the educational offer that has made the UK so attractive to brilliant students from all around the world". "The Graduate Visa Route is regarded by students in key markets like India as an integral part of their educational experience. The MAC review made clear that the removal of this route would make the UK less attractive and thus would cause considerable financial detriment to universities around the country," reads their joint letter. "International student tuition fee income has long cross-subsidised underfunded research and has increasingly become critical to cross-subsidise the teaching of UK undergraduate students because of the frozen tuition fee. Universities cannot continue to absorb the costs of teaching UK undergraduates without some form of alternative funding source," they caution. On top of their visa fees, international students who find work and start businesses contribute billions of pounds in income tax, national insurance and VAT annually. The university chiefs point out that they are also usually net contributors to the National Health Service (NHS) through the NHS surcharge. The Russell Group of the UK's leading universities issued its appeal over the weekend, with CEO Tim Bradshaw warning that there has already been a 10 per cent decline in international applications for post-graduate courses starting this September in the wake of the clampdown on students being able to bring dependant family members. "A further restriction on international students would not only be unnecessary — as numbers are already falling — but also damaging, resulting in less spending in local communities, fewer opportunities for domestic students and less UK research," he noted in a letter to Sunak. Members of his own Cabinet are believed to be opposed to any changes to the Graduate scheme, but the British Prime Minister is having to balance pressures from the right of the governing Conservatives who are single-minded in their demands to curb all forms of legal as well as illegal migration levels ahead of an election later this year.

Universities, student groups lobby PM Sunak to keep UK's post-study visa scheme unchanged

<ul class="summary-list"><li>Elon Musk is calling for deregulation and spending cuts to make the government more efficient.</li><li>The billionaire's mindset echoes previous efforts to run the US government like a business.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> is on a mission to make the US government more efficient, touting deregulation and decreased spending in public appearances as he <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-cabinet-election-x-2024-9">courts a role</a> in a potential second Trump administration.The billionaire evangelized about efficiency during a live appearance at the All-In podcast Summit in Los Angeles on Monday, suggesting he would draw on his business acumen to slash federal spending if chosen as the <a target="_blank" class="" href="https://www.businessinsider.com/trump-adopts-elon-musk-plan-cut-government-spending-efficiency-reform-2024-9">head of Trump's would-be government efficiency commission</a>."We do have an opportunity to do a once-in-a-lifetime deregulation and reduction in the size of government," Musk said at the summit appearance about a potential <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wants-elon-musk-on-his-cabinet-2024-8">Trump win</a>.But two political scientists told Business Insider that Musk's desire to <a target="_blank" class="" href="https://hbr.org/2017/03/the-u-s-cannot-be-run-like-a-business">run the US government like a private business</a> — an approach many private sector professionals have supported for decades — isn't as foolproof as the CEO might think.Musk did not respond to a request for comment.<a target="_blank" href="https://www.businessinsider.com/elon-musk-donald-trump-feud-relationship-timeline-2022-7">Musk has done a 180</a> in his support for Trump. The billionaire endorsed Hillary Clinton in 2016, but after Trump won, accepted a role on two of the then-president's economic advisory councils. He later departed the administration, citing Trump's environmental policies.But since Musk officially endorsed Trump in July, he's repeatedly <a target="_blank" class="" href="https://x.com/elonmusk/status/1834104386303520822">posted</a> on X about the need for government efficiency."The idea that you can run the entire government as a business, it's just not designed that way," said Patricia Crouse, a practitioner in residence of political science and public administration at the University of New Haven. "You have to work around our system of federalism."Trump, a businessman turned politician, based much of his first presidential campaign on the notion that his <a target="_blank" class="" href="https://www.washingtonpost.com/news/politics/wp/2017/03/27/trumps-idea-to-run-the-government-like-a-business-is-an-old-one-in-american-politics/">experience in the private sector</a> would guide his approach to politics.While perhaps misguided, both experts said it's not an entirely unfounded line of thinking. According to the academics, the government is inefficient in many ways, and accusations that federal agencies waste time and money are not always unwarranted.But the push to make the government work more like a business <a target="_blank" class="" href="https://www.businessinsider.com/cost-efficiency-isnt-best-measurement-government-policy-2022-6">misunderstands a fundamental element</a> of US federalism — profit is not the end-all, be-all, political science experts said."Government is almost always more inefficient than the private sector because their motives are just different," said Christian Grose, a professor of political science at the University of Southern California.<div type="image" title="Al Gore and Bill Clinton stand at a podium holding a government report" height="1460" width="2921" msid="113345808" hostid="261" sizebytes="110754"></div><h2 id="7c8addd5-408c-4950-b159-3797e89f7a84">Profit vs. Protection</h2>Efforts to privatize parts of the US government date back decades. The modern-day push for a business-like government has its roots in <a target="_blank" class="" href="https://www.businessinsider.com/theres-a-big-difference-between-reaganomics-and-trumponomics-2017-3">Reaganomics</a>, the economic policy put forth by President Ronald Reagan in 1981, which reduced regulation, slashed government spending, and scaled down the federal workforce.The other side of the aisle took a similar approach in 1993 when then-Vice President <a target="_blank" href="https://www.businessinsider.com/im-a-recovering-politician-and-wont-run-for-office-again-al-gore-2022-7">Al Gore</a> launched the Reinventing Government initiative, which attempted to streamline government processes and minimize bureaucracy.Former President George W. Bush also had a business background, making his pre-presidency fortune in the Texas oil industry. Once in office, Bush cut regulations with his Faith-Based and Community Initiative, which sought to outsource some social services to faith-based groups.Grose said the pro-business mentality is present in local and state government, too, adding that private sector professionals often run gubernatorial races on such platforms.Political experts said it makes sense that business leaders like Musk would see only inefficiency and wastefulness in the government's operations."In the private sector, the motive is profit. The less efficient you are, the less profitable you are," Grose said. "But inefficiency in the private sector isn't the same."The <a target="_blank" class="" href="https://www.businessinsider.com/privitizing-public-goods-healthcare-education-doesnt-work-opinion-2022-1">government's job isn't to make money,</a> but to regulate and keep people safe."Sometimes that's not efficient in an economic sense," Grose added.Consider, too, that the government and businesses serve very different stakeholders, Grose said. CEOs have to answer to stockholders and a board of directors — the president has to answer to every American in the country.<div type="image" title="Elon Musk and donald Trump sit at a table" height="2200" width="3300" msid="113345810" hostid="261" sizebytes="236978"></div><h2 id="77ff06c1-a7ce-42dd-87ed-6be17fc49a6d">The pitfalls of privatized government</h2>Crouse said the consequences could be dire if Trump and Musk are able to make massive cuts to federal agencies."If you decide you want to run the government entirely like a business, you're going to see things like poverty and <a target="_blank" class="" href="https://www.businessinsider.com/us-job-market-unemployment-rising-federal-reserve-interest-rate-cut-2024-7">unemployment</a> increase because it becomes every man for himself," Crouse said.For all of its faults, the federal government has a fail-safe of sorts, thanks, in part, to its massive size, Crouse said. She added that outsourcing critical government services to private companies runs the risk that those services could disappear if the company went bankrupt."A business isn't really self-correcting, at least not as easily as government is," Crouse said.Crouse said that privatizing the federal government could also lead to increased corruption, pointing to the <a target="_blank" class="" href="https://www.businessinsider.com/private-prisons-lobby-for-their-own-existence-2016-8">for-profit prison industry</a> as one example. In 2008, two Pennsylvania judges were convicted of <a target="_blank" class="" href="https://apnews.com/article/crime-trending-news-government-and-politics-6f30f575dc739415af1e5b47b1be50f0">accepting money in return</a> for sending kids to private detention centers to increase occupancy."Businesses are out to make a profit, so they're going to do what they can to increase profits, and if the consumer gets hurt in the process of doing that, well, that's all a part of business," Crouse said.Beyond the logistical issues associated with a business-like government, Grose said he was skeptical of the sentiment at the heart of Musk's comments earlier this week, casting doubt on whether a second Trump presidency would result in "once-in-a-lifetime" deregulation.While Trump did engage in <a target="_blank" class="" href="https://www.businessinsider.com/wall-street-dodd-frank-deregulation-bill-trump-gop-obama-legacy-2018-5">some deregulation</a> during his first term, Grose said he didn't behave like a traditional business Republican, citing his tariffs and tax cuts, the latter of which helped the <a target="_blank" class="" href="https://www.propublica.org/article/national-debt-trump">national debt surge.</a>"It's not obvious to me that he is a massive budget cutter based on past experience," Grose added.Both Crouse and Grose also expressed hesitation about taking business advice from Musk, pointing to the <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-looks-like-he-is-destroying-x-intentionally-2023-11">breakdown of Twitter, now X</a>, after the billionaire bought the site in 2022.Ultimately, however, both said the 235-year-old federalism that governs America simply isn't equipped to handle the pressures faced by private businesses."My fear is that it would collapse," Crouse said.

Elon Musk's ideas about government efficiency are all wrong, political scientists say

<ul class="summary-list"><li>Jamie Dimon says Elon Musk's proposed department of government efficiency is a "very good idea."</li><li>"I think governments have to become more efficient, more competent," he said to CNBC.</li></ul>JPMorgan Chase CEO Jamie Dimon says he approves of Elon Musk's proposal to create a new <a target="_blank" class="" href="https://www.businessinsider.com/trump-adopts-elon-musk-plan-cut-government-spending-efficiency-reform-2024-9">department of government efficiency </a>— or, in Musk's words, <a target="_blank" class="" href="https://x.com/elonmusk/status/1832319390940881133">DOGE</a>.Tesla and SpaceX's CEO Musk recently floated the idea of <a target="_blank" rel="" class="" href="https://www.businessinsider.com/elon-musk-trump-cabinet-election-x-2024-9">working in former President Donald Trump's government</a> as part of such a new commission if Trump wins in November."Ok, so — Elon, this idea about having an efficiency commission, I actually like the idea," Dimon said in an <a target="_blank" class="" href="https://www.youtube.com/watch?v=o7NDVxjC6rY">interview</a> with CNBC-TV18, which aired on Tuesday."I think governments have to become more efficient, more competent," he said. "And look at, when they take money, what do they get for it. I actually think it's a very good idea.""It's kind of like, remember Al Gore had the 'Reinventing Government?' We really need to do it," Dimon added.The efficiency department was a suggestion from Musk, which the Tesla chief shared with Trump during their <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-livestream-interview-trump-crashes-x-2024-8">live-streamed X conversation</a> on August 12.Musk said he'd "<a target="_blank" class="" href="https://www.businessinsider.com/trump-adopts-elon-musk-plan-cut-government-spending-efficiency-reform-2024-9">be happy to help out</a>" on a government-efficiency commission, to which Trump responded that he'd "love it" if that happened.Trump reiterated his intentions for such a commission during a speech at the Economic Club of New York on September 5, saying he plans to "create a government-efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government and making recommendations for drastic reforms."Trump has also said that he would <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wants-elon-musk-on-his-cabinet-2024-8">love to offer Musk a cabinet position</a>."He's a very smart guy. I certainly would, if he would do it, I certainly would. He's a brilliant guy," Trump said when asked if he would offer Musk a cabinet or advisory position, <a target="_blank" rel=" nofollow" class="" href="https://www.reuters.com/world/us/trump-says-he-would-consider-ending-7500-electric-vehicle-credit-2024-08-19/">Reuters</a> reported on August 19.And Musk has also said he <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-cabinet-election-x-2024-9">"can't wait"</a> to be part of Trump's cabinet."I can't wait. There is a lot of waste and needless regulation in government that needs to go," Musk <a target="_blank" class="" href="https://x.com/elonmusk/status/1830829538118381574">wrote</a> on X on September 3.During the CNBC interview, Dimon said that at the moment, he will not endorse Trump or his opponent, Vice President Kamala Harris, for the presidency.But Trump, for his part, told <a target="_blank" class="" href="https://www.bloomberg.com/features/2024-trump-interview-transcript/">Bloomberg</a> in June that if he were to be elected, he might <a target="_blank" class="" href="https://www.businessinsider.com/jamie-dimon-floated-donald-trump-kamala-harris-treasury-secretary-2024-8">consider Dimon</a> for the role of the country's treasury secretary."He is somebody that I would consider, sure," Trump told Bloomberg.However, he later walked back that statement. In July, Trump <a target="_blank" rel="" class="" href="https://www.businessinsider.com/trump-denies-jamie-dimon-cabinet-treasury-secretary-2024-7">denied that he ever considered Dimon for the role</a>, writing on <a target="_blank" class="" href="https://truthsocial.com/@realDonaldTrump/posts/112836501862027675">Truth Social</a>: "I don't know who said it, or where it came from, perhaps the Radical Left, but I never discussed, or thought of, Jamie Dimon or Larry Fink for Secretary of the Treasury."Dimon has not said if he plans to take up the role if offered the job. In an August <a target="_blank" rel=" nofollow" class="" href="https://www.cnbc.com/video/2024/08/07/watch-cnbcs-full-interivew-with-jpmorgan-ceo-jamie-dimon.html">CNBC "The Exchange"</a> interview, he said he's focused on his current job at JPMorgan."I am very happy with what I'm doing," he said in the interview. "I say it over and over, but I'm very happy with what I'm doing."And during the CNBC interview this week, Dimon said, "I don't expect to be the treasury secretary."Musk, representatives of Trump and JPMorgan Chase didn't immediately respond to a request for comment from Business Insider, sent outside business hours.

Jamie Dimon says he likes Elon Musk's idea to start a DOGE, or Department of Government Efficiency

A day before the official release of India's Gross Domestic Product (<keyword id="35050" type="General" weightage="20" keywordseo="GDP" source="Orion">GDP</keyword>) figures for <keyword id="21593310" type="General" weightage="20" keywordseo="Q1-FY25" source="keywords">Q1 FY25</keyword>, a report by <keyword id="20548750" type="General" weightage="20" keywordseo="Anand-Rathi" source="keywords" meta.keywordsubtype="org" meta.entityname="Anand Rathi" meta.hostid="261" meta.entityid="Anand Rathi">Anand Rathi</keyword> research estimates the GDP to grow by 7 per cent, primarily driven by the robust performance of the services sector. The financial advisory firm also maintains its full-year <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> projection at 7 per cent, though it warns of potential downside risks. Utilities GVA is expected to rise by 11.5 per cent, while the construction sector has slowed due to election-related disruptions and the impact of heat. The mining sector remains strong, supported by increased coal production. The services sector is expected to be the primary driver of GDP growth in Q1 FY25. Despite reduced <keyword id="20155204" type="General" weightage="20" keywordseo="government-spending" source="keywords">government spending</keyword> ahead of the elections, which is likely to dampen growth in some service sectors, financial, real estate, and professional services are expected to have performed well. This performance is attributed to strong market activity and credit growth. However, the trade and transport sectors present a mixed picture, with some indicators showing improvement while others remain moderate. Overall, Services Gross Value Added (GVA) is expected to grow by 8.2 per cent in Q1 FY25. As per the report, Investment was a key growth driver in FY24, fuelled by government infrastructure projects and a real estate upswing. However, the momentum appears to have slowed in Q1 FY25 due to pre-election restrictions. Despite this, the report predicts a significant rise in government capital expenditure in the coming months, supported by greater budget allocations. The report highlights the changing dynamics of private consumption in India. FY24 saw weak consumption, especially in rural areas, with final consumption expenditure growing by just 3.8 per cent. However, as FY25 begins, there are signs of a rural revival. Indicators such as increased two-wheeler sales and improving Fast-Moving Consumer Goods (FMCG) volume growth signal a rebound in rural demand. In contrast, urban demand continues to show signs of sluggishness. The muted sales of passenger vehicles, weaker retail credit transfers, and flat Goods and Services Tax (GST) collections underscore this trend. While consumption is not expected to see a significant rise in Q1 FY25, the outlook for the remainder of the year appears positive. This optimism is bolstered by anticipated higher agricultural output and sharper government focus on rural areas. The agriculture sector is expected to post a subdued growth of 2.1 per cent in Q1 FY25, affected by scorching heat and uneven rainfall last year, which led to lower reservoir levels and hindered farming activities. However, the outlook is more promising for the remainder of the fiscal year, with better rains and improved sowing conditions expected to boost agricultural output Additionally, a rebound in stamp duty collections suggests buoyant real estate sales. Private capital expenditure, which was previously subdued, is expected to expand in FY25, driven by rising capacity utilisation and strong order books. The industrial sector, which grew by 9.5 per cent in FY24, is expected to see a shift in growth drivers in Q1 FY25. The focus is now moving towards utilities and mining, with manufacturing growth slowing. While government infrastructure projects and private capital expenditure will continue to support industrial growth, the global growth slowdown poses potential risks.

You Searched For "GOVERNMENT ADVISORY" and got 9 results

India bans 156 commonly used combination drugs citing possible risks to humans

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Love him or loathe him, Elon Musk is a champion of efficiency and could save the US government a fortune

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How Elon Musk's Department of Government Efficiency could actually work

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Elon Musk downsized Big Tech. Can he do the same to Big Government?

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SEBI mulls measures to facilitate ease of doing business for ESG Rating Providers (ERPs)

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Universities, student groups lobby PM Sunak to keep UK's post-study visa scheme unchanged

PTI

Elon Musk's ideas about government efficiency are all wrong, political scientists say

Erin Snodgrass

Jamie Dimon says he likes Elon Musk's idea to start a DOGE, or Department of Government Efficiency

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Anand Rathi anticipates Q1 FY25 GDP growth at 7%, a little lower than RBI's estimate of 7.1%

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