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New Delhi: India's fossil fuel emissions are projected to rise by 4.6 per cent in 2024, while China could see a marginal rise of 0.2 per cent, according to new research by a group of international scientists. As the UN climate conference in Baku, Azerbaijan, discussed raising trillions of dollars to tackle <keyword id="19907392" type="General" weightage="20" keywordseo="Climate-change" source="keywords">climate change</keyword>, the group of scientists known as the "Global Carbon Project" warned that emissions from fossil fuels -- the main driver of warming -- could hit a record 37.4 billion tonnes in 2024, up 0.8 percent from 2023 levels. This comes despite rapid growth in renewable energy and a landmark agreement at COP28 in Dubai last year to move away from fossil fuels. The "<keyword id="23948569" type="General" weightage="20" keywordseo="Global-carbon-budget-2024" source="keywords">Global Carbon Budget 2024</keyword>" report said total global CO2 emissions are set to go up from 40.6 billion tons in 2023 to 41.6 billion metric tons in 2024, which is on course to become the warmest year on record. "The impacts of climate change are becoming increasingly dramatic, yet we still see no sign that burning of fossil fuels has peaked," Professor Pierre Friedlingstein of Exeter's Global Systems Institute, who led the study, said. The 'Global Carbon Project' team said India, the world's most populous country and fastest-growing major economy, may see its fossil fuel emissions rise by 4.6 percent. According to a UN report released last month, India's greenhouse gas emissions surged by 6.1 per cent in 2023, contributing to 8 per cent of the global total. However, the country's historical contribution to global CO2 emissions stands at only 3 per cent. India's per capita emissions remain low at 2.9 tons of CO2 equivalent (tCO2e), far below the global average of 6.6 tCO2e. India, the world's third-largest greenhouse gas emitter, has pledged to reach net zero emissions (balancing emissions with removals) by 2070 and aims to achieve 500 gigawatts of renewable energy capacity by 2030. China's emissions, which make up 32 per cent of the global total, are likely to increase slightly by 0.2 per cent, though there is a chance they could decline, according to the data released on Wednesday. Emissions from the United States and the European Union, which contribute 13 per cent and 7 per cent of the global total, are both set to decline, with drops of 0.6 per cent for the US and 3.8 per cent for the EU. Emissions from the rest of the world, which together account for 38 per cent of global emissions, could see a rise of 1.1 per cent. The researchers said that in 2024, coal emissions will likely increase by 0.2 per cent, oil by 0.9 per cent, and gas by 2.4 per cent, globally. Coal, oil, and gas contribute 41 per cent, 32 per cent, and 21 per cent of global fossil CO2 emissions, respectively. However, given the uncertainty in projections, it remains possible that coal emissions could decline in 2024, they said. The report also pointed out that emissions from international aviation and shipping, which account for 3 per cent of global emissions and are tracked separately from national or regional totals, are expected to rise by 7.8 per cent in 2024. However, these emissions will still be 3.5 per cent below the 2019 pre-pandemic levels. Globally, emissions from land-use changes, like deforestation, have dropped by 20 per cent over the past decade but are expected to rise in 2024. Permanent CO2 removal through reforestation and new forest planting now offsets about half of the emissions from permanent deforestation, they added. Technology-based CO2 removal accounts for only a tiny fraction -- around one-millionth -- of CO2 emissions from fossil fuels. The report said that emissions from fires in 2024 have been above the average since the beginning of the satellite record in 2003, particularly due to the extreme 2023 wildfire season in Canada (which continued into 2024) and severe drought in Brazil. Land and ocean carbon sinks continued to absorb around half of the total carbon emissions, despite being negatively affected by climate change.

Global fossil emissions to reach record high in 2024; India's share to rise by 4.6 pc: Report

<keyword id="19956758" type="General" weightage="20" keywordseo="finance-minister" source="keywords">Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> on Tuesday announced a <keyword id="20274081" type="General" weightage="20" keywordseo="credit-guarantee-scheme" source="keywords">credit guarantee scheme</keyword> for facilitating <keyword id="22087606" type="General" weightage="20" keywordseo="term-loans" source="keywords">term loans</keyword> for <keyword id="19910977" type="General" weightage="20" keywordseo="MSMEs" source="keywords">MSMEs</keyword> to purchase machinery and equipment without collateral or third-party guarantee. In her Budget speech in the Lok Sabha, she said the Budget provides special attention to micro, small &amp; medium enterprises (MSMEs) and manufacturing, particularly labour-intensive units. "We have formulated a package, covering financing, <keyword id="20961204" type="General" weightage="20" keywordseo="regulatory-changes" source="keywords">regulatory changes</keyword> and technology support for MSMEs to help them grow and also compete globally, as mentioned in the interim budget," she said. The credit guarantee scheme for MSMEs in manufacturing will operate on the pooling of credit risks of such entities. "A separately constituted self-financing guarantee fund will provide, to each applicant, guarantee cover up to Rs 100 crore, while the loan amount may be larger," the minister announced in the Budget. The borrower will have to provide an upfront guarantee fee and an annual guarantee fee on the reduced loan balance. She also announced a new mechanism for facilitating the continuation of bank credit to MSMEs during their stress period. Sitharaman said that while being in the 'special mention account' (SMA) stage for reasons beyond their control, MSMEs need credit to continue their business and avoid getting into the NPA stage. "Credit availability will be supported through a guarantee from a government-promoted fund," she added. In another move to help MSMEs, the minister announced a new assessment model for credit to the sector. She said public sector banks will build their in-house capability to assess MSMEs for credit, instead of relying on external assessment. "They will also take a lead in developing or getting developed a new credit assessment model, based on the scoring of digital footprints of MSMEs in the economy," she added. The new assessment model, she said, is expected to be a significant improvement over the traditional assessment of credit eligibility based only on asset or turnover criteria. It will also cover MSMEs without a formal accounting system. Mohammad Athar (Saif), partner and leader capital projects and infrastructure development, PwC India, said the credit guarantee scheme and <keyword id="22514802" type="General" weightage="20" keywordseo="e-commerce-export-hubs" source="keywords">e-commerce export hubs</keyword> for MSMEs will enable demand creation and boost India's aspiration of achieving USD 1 trillion in exports by 2030, driven by MSMEs. Sitharaman also announced that to enable MSMEs and traditional artisans to sell their products in international markets, e-commerce export hubs will be set up in public-private-partnership (PPP) mode. These hubs, under a seamless regulatory and logistic framework, will facilitate trade and export-related services under one roof. Vivek Jalan, Partner, Tax Connect, a multi-disciplinary firm, said, as requested by the trade and industry bodies and laid down by the Economic Survey, for MSME businesses, the compliance burden is also sought to be relaxed. Litigations will be reduced in the new <keyword id="22517694" type="General" weightage="20" keywordseo="Vivaad-Se-Vishwas-Scheme" source="keywords">Vivaad Se Vishwas Scheme</keyword>, he added. Rumki Majumdar, Economist, Deloitte India, said the credit guarantee schemes for MSMEs in the <keyword id="19955573" type="General" weightage="20" keywordseo="manufacturing-sector" source="keywords">manufacturing sector</keyword>, facilitating term loans for the purchase of machinery, and formulating packages to finance technology support to them will go a long way to providing access to finance and increasing investments, which have been key challenges in the sector.

FM announces credit guarantee scheme, other measures for MSMEs

When Apple unveiled the Vision Pro during WWDC last year, the world waited for what looked like the next big thing in the virtual reality world. The Vision Pro was praised by journalists ahead of its launch and its hefty price tag also raised some eyebrows. Now, the Cupertino-based tech giant is gearing up to launch the second variant of its wearable device. And according to Bloomberg’s Mark Gurman, the device might be here by late 2025 or early 2026, bringing significant internal upgrades to boost performance. The new model is expected to feature Apple’s advanced M5 chip, marking a shift from the M2 in the original Vision Pro, which, despite its powerful specs, felt quickly outdated as newer chips were released. <h2>No cheaper Vision Pro? </h2> Initially, Apple had also considered a budget version of the Vision Pro headset, anticipated to retail around $2,000 with scaled-back features. However, recent insights from Apple’s supply chain analysts and insiders suggest that plans for this affordable alternative have been suspended, possibly due to concerns over whether a lower-cost model would create enough demand. Instead, Apple is prioritising premium improvements to the Vision Pro line, with the upcoming headset aimed at providing a highly immersive augmented reality experience. <h2>About Vision Pro 2 </h2> In terms of design, the Vision Pro 2 is expected to closely resemble its predecessor, maintaining the original model’s sleek, high-end look, yet bringing a more powerful experience. Externally, few changes are expected, but the internal shift to the M5 processor will be pivotal for Apple’s AR ambitions, potentially making this one of the most advanced headsets available. Apple’s strategy here is clear: to bridge the gap between regular releases and keep the Vision Pro line competitive. On the software front, Apple is expected to roll out updates like the visionOS 2.2, which introduces new Mac display options in AR. <h2>Apple entering smart glasses market? </h2> On a related note, the Vision Pro 2 doesn’t seem to be the only wearable device that Apple is working on. A couple of days back, reports of Apple working on Meta Ray Ban-like smart glasses had also surfaced. A Bloomberg report had also said that Apple was conducting internal research to develop these smart glasses. The study, led by the company’s Product Systems Quality team, sought employee feedback to understand the potential of smart glasses and their key features. According to the report, this internal survey asked participants to evaluate existing smart glasses available on the market. The feedback collected from these focus groups will reportedly be crucial for Apple as it looks to understand the demand and fine-tune features that could be incorporated into its product. While it’s still early in the process, these developments suggest that Apple is planning to enter the smart glasses market in the next few years, with a product that may directly compete with Meta’s Ray-Ban glasses. If these smart glasses are developed, they could serve as an upgrade to Apple’s existing wearable ecosystem. The glasses would expand Apple’s range, offering a more immersive and interactive experience for users. Given Apple’s reputation for creating seamless and integrated experiences, these smart glasses could become an essential part of its growing wearable portfolio.

Apple could launch Vision Pro 2 in 2025, shelves plans for a cheaper Vision Pro: Report

At a campaign rally for former President Donald Trump in New York on Sunday, <a href="https://www.businessinsider.com/elon-musk" target="_blank">Elon Musk</a> said he'd save the United States $2 trillion through a <keyword id="23593857" type="General" weightage="20" keywordseo="Department-of-Government-Efficiency" source="keywords">department of government efficiency</keyword>. Howard Lutnick, the CEO of the financial-services company <keyword id="20371653" type="General" weightage="20" keywordseo="Cantor-Fitzgerald" source="keywords" meta.keywordsubtype="org" meta.entityname="Cantor Fitzgerald" meta.hostid="261" meta.entityid="Cantor Fitzgerald">Cantor Fitzgerald</keyword>, introduced Musk at the event. As he took the stage, Lutnick asked the Tesla and SpaceX CEO, "How much do you think we can rip out of this wasted $6.5 trillion <keyword id="23762349" type="General" weightage="20" keywordseo="Harris-Biden-budget" source="keywords">Harris-Biden budget</keyword>?" "I think we can do at least $2 trillion," Musk replied. "I mean, at the end of the day, you're being taxed. You're being taxed. All government spending is taxation. So whether it's direct taxation or all government spending, it either becomes inflation or it's direct taxation." Musk added: "Your money is being wasted, and the <a href="https://www.businessinsider.com/trump-adopts-elon-musk-plan-cut-government-spending-efficiency-reform-2024-9" target="_blank">Department of Government Efficiency</a> is going to fix that. We're going to get the government off your back and out of your pocketbook." Trump has previously said he'd put Musk in charge of a department of government efficiency — or "DOGE," after the cryptocurrency — if he wins the election. Musk did not elaborate on policy changes or spending cuts he would implement if he were to join a second Trump administration. Musk and representatives for the Trump campaign did not immediately respond to a request for comment. The federal government's spending in the 2024 fiscal year was $6.75 trillion. Musk's suggested cuts would represent nearly a third of that sum. It's unclear where Musk's suggested cuts would come from. Both Trump and Vice President Kamala Harris have proposed various tax changes as part of their campaigns. Those proposed by Trump include ending taxes on tips and overtime, reducing the corporate tax rate, hiking tariffs on imports, and ending taxes on Social Security benefits. Harris has proposed tax credits for new parents and homeowners as well as an expansion to the Small Business Tax Deduction. When it comes to Social Security, the Committee for a Responsible Federal Budget has said that neither Trump nor Harris has proposed a plan that would fix Social Security's finances but that Trump's proposals would "dramatically worsen Social Security's finances." Trump's campaign <a href="https://www.businessinsider.com/trump-presidency-would-make-things-worse-for-social-security-nonprofit-2024-10" target="_blank">has disputed</a> the findings of the CRFB's report. The Wall Street Journal organized a <a href="https://www.wsj.com/politics/elections/economists-say-inflation-deficits-will-be-higher-under-trump-than-harris-0365588e" target="_blank">survey</a> of 50 economists from October 4 to October 8 and found that 65% said the deficit would get worse with the policies Trump has proposed. <h2 style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; background-color: rgb(255, 255, 255);">Musk's growing support for Trump</h2>Musk, the world's richest person, has become one of Trump's staunchest and most vocal backers in this election cycle. Musk <a href="https://www.businessinsider.com/elon-musk-donald-trump-feud-relationship-timeline-2022-7" target="_blank">endorsed Trump in July</a> after the former president survived an assassination attempt during a rally in Pennsylvania. The two have discussed Musk holding a seat in Trump's Cabinet if the former president were to be reelected. During a livestream on X in August, Musk said he would be "happy to help out" with a government-efficiency commission. In a September speech, Trump again mentioned the commission, saying he'd want Musk to oversee the project. Musk's financial power is translating into real moves on the campaign trail. As of Friday, Musk has spent just under $119 million on his pro-Trump political action committee, America PAC. He has been hitting the road in the key swing state of Pennsylvania and holding his own rallies in support of Trump. Musk has also said he's launching a daily $1 million giveaway to a swing-state voter who signs his petition affirming support for free speech and the right to bear arms. Some election-law experts previously told BI the giveaway plan might be illegal. With the election just over a week away, the race between Harris and Trump remains on a razor's edge. A national poll by <a href="https://www.nytimes.com/2024/10/25/us/politics/poll-harris-trump-times-siena.html" target="_blank">The New York Times and Siena College</a> released Friday found Trump and Harris to be neck and neck at 48% for the popular vote. October 28, 2024, 3:08 a.m. ET: This story has been updated with context on Musk's comments about the prospect of taking on a government role, details about Musk's political spending in the 2024 election cycle, and details on Trump's and Harris' respective economic proposals.

Elon Musk took the stage at a Trump rally to talk about taxes and the 'Department of Government Efficiency'

<ul class="summary-list"><li>China's thrifty consumers are boosting Asian companies with wallet-friendly offerings.</li><li>Companies like Japan's Saizeriya, Yum China, and Fast Retailing have recently reported strong sales.</li></ul>China's consumers are tightening up their belts, but not everyone's a loser. Some companies are riding the frugal wave.Saizeriya, a restaurant chain from Japan — a country well familiar with a prolonged downturn — is one company making bank from China's downturn.In its fiscal year that ended August 31, <a target="_blank" class="" href="https://www.saizeriya.co.jp/PDF/irpdf001505.pdf">Saizeriya</a>, which serves Italian food at budget prices in several Asian countries, reported operating profit nearly doubled from a year ago to 14.8 billion Japanese yen, or $99.6 million.Hideharu Matsutani, the company's president, said at a Wednesday press conference that operating profit from its China operations "rose significantly," per <a target="_blank" class="" href="https://asia.nikkei.com/Business/Food-Beverage/Thrifty-Chinese-diners-bring-record-profit-for-Japan-s-Saizeriya">Nikkei.</a>Matsutani said Saizeriya is now using its strategy for Japan in the neighboring market because "conditions in China in some respects look like Japan after its economic bubble burst."There are <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-heading-for-lost-decade-needs-reform-growth-japanification-2024-2">similarities</a> between <a target="_blank" rel="" href="https://www.businessinsider.com/japan-millennial-salaryman-job-wages-rent-home-ownership-birthrate-2023-5#the-typical-japanese-millennial-is-financially-conservative-having-grown-up-watching-their-countrys-lost-decade-suffer-from-a-devastating-economic-crisis-2">Japan's "Lost Decade"</a> of economic stagnation in the 1990s, after the country's asset and credit bubbles burst, and <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-property-crisis-vanke-get-uglier-analyst-charlene-chu-2024-3">China's economic downturn</a> now.After Japan's asset bubble implosion, consumption in Japan witnessed a fundamental shift, as people who previously would pay for quality and convenience increasingly moved to buying discount goods, consultancy <a target="_blank" class="" href="https://www.mckinsey.com/~/media/McKinsey/Industries/Consumer%20Packaged%20Goods/Our%20Insights/The%20new%20Japanese%20consumer/The%20new%20Japanese%20consumer.pdf">McKinsey</a> wrote in a 2010 report.Chinese consumers now appear to be moving in the same direction as their Japanese peers, trading down for cheaper products — even if the trend also presents challenges for budget-friendly retailers.Still, investors appear to agree with the strategy of offering more value for money. Shares of Saizeriya listed on the Tokyo Stock Exchange are up 7.7% this year-to-date.<h2 id="fa258e48-944f-4589-9a00-fdd7e405730d">Living well but at the 'best value for money'</h2>In China, too, times have changed, and people are looking for cheaper products, including <a target="_blank" class="" href="https://www.businessinsider.com/chinese-economy-young-shoppers-looking-dupes-substitutes-pingti-fashion-travel-2024-9">dupes and substitutes.</a>"Consumers are increasingly rational and strategic, focusing on obtaining the best value for their money," said MingYii Lai, a strategy consultant at Beijing-based market research firm Daxue Consulting, told Business Insider.Shoppers are seeking high-quality experiences and products at lower costs while aiming to live well, she said.People are increasingly choosing to spend on experiences, like travel and food, rather than buying products."Economic pressures and changing priorities are driving a move towards more economical spending," said Lai.The ethos has benefited companies with budget offerings, including Yum China, which operates KFC and Pizza Hut in the country.<a target="_blank" class="" href="https://ir.yumchina.com/quarterly-results">Yum China'</a>s second-quarter operating profit grew 4%, to $266 million, from a year ago thanks to aggressive budget-friendly deals.<a target="_blank" class="" href="https://www.fastretailing.com/eng/ir/financial/summary.html">Fast Retailing</a> — the parent company of Uniqlo, known for affordable clothes — reported net profit growth of 25.6% for its full year ending August 2024 thanks to robust sales in both the domestic and international markets. Sales in Greater China grew by 9.2%, to 677 billion yen.Yum China shares are up 11% this year to date, while Fast Retailing shares are up 56% over the same period.<h2 id="af7e4a77-fdf8-44fe-9f62-eb06a273ab9e">Intense competition</h2>However, China's market is a fast and furious one — even for winners — and the country's economic downturn has created cut-throat competition with aggressive price wars.Uniqlo said on Thursday that while sales in mainland China were "strong" in the first half of its fiscal year, they were "lackluster" in the second half.Some consumers are <a target="_blank" class="" href="https://www.businessinsider.com/chinese-economy-young-shoppers-looking-dupes-substitutes-pingti-fashion-travel-2024-9">going straight to the source</a> to buy original equipment manufacturer goods or white label products to replace items in a wide range of categories — even if they're just ordinary products.The race for Chinese consumers' yuan is exemplified in the boba tea business, where an all-out price war is changing market dynamics for what is considered a still affordable indulgence in a penny-pinching era.As China's economic malaise deepened, <a target="_blank" class="" href="https://x.com/AFP/status/1835337779993256178">boba tea went from</a> premium pricing around $3.50 to $5.50 on average to as little as $1 or less over the last few years."All the players are trying to introduce low-price offers. So, either you can use a low price range, or try to be very creative in terms of pricing promotion so as to stay ahead of the market," Jason Yu, the Greater China managing director at Kantar Worldpanel, a consumer research group, told BI.In KFC's case, its marketing and pricing strategies cater to both ends of the market, with wagyu beef products at the higher end and promotions like 15 wings for under $3, <a target="_blank" class="" href="https://www.businessinsider.com/western-brands-china-kfc-mcdonalds-american-fast-food-all-in-2024-9">BI's Matthew Low</a> reported last month.As Allison Malmsten, another analyst from Daxue Consulting, told BI: "the rich are comfortable to spend, while the middle class chooses cheaper options."

Budget brands are winning in China as people turn to cheap food and fashion     

<ul class="summary-list"><li>The cost of childcare is weighing on American families.</li><li>Below are some of the policies Harris and Trump have proposed to address these worries.</li></ul>With the presidential election days away and early voting already underway in most states, America's parents are wondering how the next administration could affect the rising <a target="_blank" class="" href="https://www.businessinsider.com/how-much-kids-cost-raising-child-inflation-childcare-tax-exemptions-2024-1">cost of raising children</a>.In the last of Business Insider's five-part series in the final stretch before the election, we're looking at the ways each candidate and their proposed policies could influence the price of childcare. The series has already covered each how each candidate is expected to impact <a target="_blank" class="" href="https://www.businessinsider.com/market-impact-presidential-election-scenarios-trump-harris-stocks-bonds-crypto-2024-10">investments</a>, <a target="_blank" rel="" class="" href="https://www.businessinsider.com/cost-expensive-goods-price-impact-presidential-election-scenarios-trump-harris-2024-10">overall </a><a target="_blank" class="" href="https://www.businessinsider.com/cost-expensive-goods-price-impact-presidential-election-scenarios-trump-harris-2024-10">costs</a>, <a target="_blank" class="" href="https://www.businessinsider.com/housing-affordability-supply-impact-presidential-election-scenarios-homebuyers-harris-trump-2024-10">housing</a>, and <a target="_blank" class="" href="https://www.businessinsider.com/tax-cut-tariff-plan-outlook-presidential-election-scenarios-harris-trump-2024-10">taxes</a>.Former President Donald Trump and Vice President Kamala Harris have both talked about the importance of making childcare more affordable. Harris has put forth specific plans to help alleviate the high costs of raising children, while Trump's campaign has focused mainly on increasing the amount of the child tax credit.Below are three elements of the childcare equation and what the Harris and the Trump camps have either proposed or already done.<h2 id="fbba22c8-b4a8-4c15-9104-0610fb961271">Childcare-cost assistance</h2>Harris has <a target="_blank" class="" href="https://www.youtube.com/watch?v=VRJciXc4UcQ&amp;t=1206s">promised</a> to cap families' childcare costs at no more than 7% of their incomes, compared to the <a target="_blank" class="" href="https://blog.dol.gov/2023/01/24/new-childcare-data-shows-prices-are-untenable-for-families">between 8% and 19.3%</a> spent by the median American family in 2022. The policy was first proposed in President Joe Biden's <a target="_blank" class="" href="https://www.businessinsider.com/democrats-bench-build-back-better-face-obstacles-with-voting-rights-2022-1">2021 Build Back Better package</a> but was not passed by Congress.<a target="_blank" class="" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/02/29/fact-sheet-vice-president-harris-announces-action-to-lower-child-care-costs-for-more-than-100000-families/">As vice president</a>, Harris said she's working to encourage states to lower childcare costs by cutting copayments for the Child Care and Development Block Grant — a federal program that provides childcare subsidies for low-income families. Harris wants to make these subsidies more accessible for families of children who have disabilities, are experiencing homelessness, or are in foster care, and families living at or below 150% of the federal poverty line.Trump has not included a specific policy to mitigate childcare costs in his 2024 campaign. <a target="_blank" class="" href="https://www.edweek.org/policy-politics/new-plan-from-donald-trump-aims-to-address-costs-of-child-care/2016/09">While in office</a>, Trump expanded the child tax credit, but he made no other major policy changes.Neither Trump nor Harris have proposed plans to fund childcare facilities or boost <a target="_blank" class="" href="https://www.businessinsider.com/jd-vance-childcare-plan-providers-teachers-criticize-policy-2024-9">hiring</a>, though experts told BI that skyrocketing costs are in part because the industry is <a target="_blank" class="" href="https://www.businessinsider.com/providers-struggle-to-keep-funding-rising-childcare-costs-2023-9">underfunded.</a> The number of childcare workers is <a target="_blank" class="" href="https://www.chicagofed.org/publications/chicago-fed-insights/2024/childcare-labor-market">still below</a> pre-pandemic levels."What's partially driving that conundrum is that we put so much burden right now on parents — and parents alone — to foot the bill for childcare," said Anne Hedgepeth, the senior vice president of policy and research at the advocacy organization Child Care Aware of America.Cindy Lehnhoff, the director of the advocacy group National Child Care Association, said that previous federal funding pools, such as the <a target="_blank" class="" href="https://www.businessinsider.com/biden-to-sign-19-trillion-american-rescue-plan-on-thursday-2021-3">2021 American Rescue Plan Act,</a> helped to fund childcare facilities at the local and federal levels. She said more plans like it in the future could expand childcare options and make it more affordable for parents.<h2 id="e8cf6a27-c056-425e-a8d8-f31d090d9888">Child tax credits</h2>Trump and Harris have both proposed expanding the child tax credit, which currently provides <a target="_blank" class="" href="https://www.whitehouse.gov/child-tax-credit/">up to $2,000</a> per child.Harris' <a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-proposals-boost-child-tax-credit-give-parents-money-2024-8">child tax credit</a> policy would restore the enhanced <a target="_blank" class="" href="https://www.businessinsider.com/child-poverty-rate-america-congress-cut-biden-expanded-tax-credit-2023-9">pandemic-era credit,</a> giving parents up to $3,600 annually per child, with the amount dependent on a child's age and family income. The plan also includes a $6,000 tax credit for middle- and low-income families for the <a target="_blank" class="" href="https://www.businessinsider.com/child-tax-credit-new-parents-cut-taxes-harris-economic-policy-2024-8">first year of their child's life</a>, which Harris said can be used to <a target="_blank" class="" href="https://kamalaharris.com/wp-content/uploads/2024/09/Policy_Book_Economic-Opportunity.pdf">offset expenses</a> like diapers, car seats, baby formula, and childcare. She has also proposed <a target="_blank" class="" href="https://www.businessinsider.com/what-you-need-to-know-about-kamala-harris-opportunity-economy-2024-9">other tax cuts</a> for middle- and low-income Americans, which would benefit some parents.In August, the vice presidential candidate JD Vance floated a child tax credit proposal that would include $5,000 per child for families of all income levels. Previously, Trump's 2017 Tax Cuts and Jobs Act provided about $2,000 of relief per eligible child, though the Center on Budget and Policy Priorities said the plan <a target="_blank" class="" href="https://www.cbpp.org/research/federal-tax/child-tax-credit-increases-in-gop-tax-plan-exclude-millions-of-children-in-low">excluded some</a> low-income families and single-parent households.The US's pandemic-era child tax credit <a target="_blank" class="" href="https://www.businessinsider.com/child-poverty-rate-america-congress-cut-biden-expanded-tax-credit-2023-9">expired</a> at the end of 2021 because Republicans in Congress opposed it. A renewed one — which would have boosted the amount of money families receive — was <a target="_blank" class="" href="https://www.businessinsider.com/child-tax-credit-boost-bipartisan-plan-lift-kids-from-poverty-2024-1">introduced to Congress</a> earlier this year, but it failed to pass the Senate.<h2 id="4d34e818-8e07-40ed-ba56-9b3d5c44fa5f">Paid leave</h2>During her <a target="_blank" class="" href="https://www.vox.com/identities/2019/10/7/20902697/paid-family-leave-kamala-harris">run for president in 2020</a>, Harris supported a six-month paid-leave policy for Americans with a new child or a sick relative. Protecting paid leave at the federal level has been one of her key 2024 talking points, and she's expected to build on Biden's agenda, which supported <a target="_blank" class="" href="https://www.whitehouse.gov/briefing-room/statements-releases/2023/02/02/fact-sheet-biden-harris-administration-announces-new-actions-to-support-and-advance-womens-economic-security/">12 weeks</a> of paid parental leave.While in office, Trump signed a bipartisan bill that provided federal employees with 12 weeks of paid <a target="_blank" href="https://www.npr.org/2019/12/13/787631029/paid-parental-leave-how-republicans-learned-to-love-a-democratic-priority">parental leave</a>. He hasn't emphasized the issue on the campaign trail.While parents are legally allowed to take 12 weeks of unpaid leave under the <a target="_blank" class="" href="https://www.businessinsider.com/why-pregnant-workers-parental-maternity-leave-can-be-laid-off-2023-3">Family and Medical Leave Act</a>, the US does not have a federal paid-leave policy. Some states have their own paid-leave requirements, and others leave policies up to individual employers.Without federal paid-leave protections, many <a target="_blank" class="" href="https://www.businessinsider.com/high-childcare-costs-in-us-women-workforce-cheapest-countries-kids-2024-2">families</a> would not have access to parental leave — which could lead to higher childcare costs and lower job security.

How the cost of childcare is expected to change under Trump or Harris

<ul class="summary-list"><li>Affordable housing is one of America's top economic concerns heading into the election.</li><li>Detailed below is what Harris and Trump have proposed in order to address these worries.</li></ul><a target="_blank" href="https://www.businessinsider.com/harris-trump-presidential-election-swing-state-polls-sun-belt-2024-10">Election Day</a> is around the corner and some Americans are already casting their ballots in early voting. For many, affordable housing is a <a target="_blank" class="" href="https://www.bankrate.com/personal-finance/2024-election-and-the-economy-survey/">top</a> concern.In the third of Business Insider's five-part series for the final stretch before the election, BI is looking at the ways each candidate and their associated policies will impact the price of housing. (Read <a target="_blank" class="" href="https://www.businessinsider.com/market-impact-presidential-election-scenarios-trump-harris-stocks-bonds-crypto-2024-10">part 1</a> about investments, and <a target="_blank" class="" href="https://www.businessinsider.com/cost-expensive-goods-price-impact-presidential-election-scenarios-trump-harris-2024-10">part 2</a> about costs.)Vice President Kamala Harris and former President Donald Trump have both pledged to address high prices by <a target="_blank" class="" href="https://www.businessinsider.com/homes-free-government-land-real-estate-housing-prices-harris-trump-2024-8">boosting the supply of homes</a>. They've also floated plans to increase affordable housing while offering different viewpoints on home construction in rural and urban areas.Detailed below are four elements of the housing-price equation, and what both the Harris and Trump camps have either proposed or already done.<h2 id="1827e262-8518-4344-bd61-fda006799bbc">Increasing housing supply</h2>Harris has said she will work with the private sector and homebuilders to construct <a target="_blank" href="https://www.businessinsider.com/how-kamala-harris-plans-to-build-3-million-new-homes-2024-8">3 million more homes</a> by the end of her first term. She also plans to create a <a target="_blank" href="https://www.businessinsider.com/kamala-harris-economy-proposal-25k-first-time-homebuyers-down-payent-2024-8">$40 billion federal innovation fund</a> that encourages local governments to build housing.This is in response to an ongoing US housing shortage. The US was short about <a target="_blank" class="" href="https://zillow.mediaroom.com/2024-06-18-The-U-S-is-now-short-4-5-million-homes-as-the-housing-deficit-grows">4.5 million homes</a> in 2022, a recent Zillow report found. And that same year the number of US families increased by 1.8 million, but just 1.4 million housing units were built.The Democratic candidate also said she plans to expand the existing <a target="_blank" href="https://www.huduser.gov/portal/datasets/lihtc.html">low-income housing tax credit</a>, which incentivizes the rehabilitation or building of housing targeted at lower-income households."Harris is trying to increase the supply of townhomes, duplexes, and condos, so that people can have an easier step onto the housing ladder than what they currently have," Daryl Fairweather, chief economist at the real estate firm Redfin, told BI.Fairweather added that Trump has talked a little bit about cutting red tape, referring to building permits and zoning laws that prevent new housing developments, but that he hasn't provided details. He also said he would <a target="_blank" class="" href="https://www.eenews.net/articles/trump-vows-hell-cut-regs-to-build-housing-on-federal-land/">designate more federal land</a> for housing.Some experts have concerns that Trump's <a target="_blank" class="" href="https://www.businessinsider.com/trumps-tariff-outlook-trade-policy-income-tax-consequences-fiscal-crisis-2024-7">high tariff proposals</a> on materials like steel would make it harder to build housing. <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.piie.com/sites/default/files/2024-05/pb24-1.pdf">A report</a> published in May from the nonpartisan think tank Peterson Institute for International Economics predicts they will make construction more expensive. High construction costs have been a major factor in the US' <a target="_blank" class="" href="https://www.businessinsider.com/why-theres-a-housing-shortage-not-enough-homes-high-prices-2022-5">underbuilding of homes</a>.On the campaign trail, the former president has remarked that the housing supply will improve once <a target="_blank" class="" href="https://www.businessinsider.com/jd-vance-deport-20-million-immigrants-reduce-home-prices-rents-2024-7">millions of people are deported</a> from the country. Builders have argued that such an effort would only <a target="_blank" class="" href="https://www.nbcnews.com/politics/2024-election/trump-immigration-deportations-home-building-costs-rcna172886">drive up costs</a>, as immigrant labor makes up a vital part of the construction industry.Trump has also said he would <a target="_blank" href="https://www.cnn.com/2024/09/06/business/undocumented-immigrants-trump-mortgage-ban/index.html">ban mortgages for undocumented immigrants</a> to decrease demand on the housing market. <a target="_blank" class="" href="https://www.cnn.com/2024/09/06/business/undocumented-immigrants-trump-mortgage-ban/index.html">Experts have said</a> this group makes up a small portion of the US mortgage market.<h2 id="6cfbfb8d-3edd-447a-a479-1e8d09b5bb3b">First-time homebuyer assistance</h2>Harris has proposed offering up to <a target="_blank" href="https://www.businessinsider.com/harris-down-payment-assistance-plan-25000-housing-crisis-affordability-zillow-2024-8">$25,000 in down-payment assistance</a> for first-time homebuyers who have paid their rent on time for at least two years.Harris has also said she would offer tax incentives to homebuilders who prioritize "starter homes." Experts have said Harris' down-payment assistance plan would boost overall home prices because it would increase demand for mortgages <a target="_blank" class="" href="https://www.aei.org/research-products/report/determining-the-price-impact-of-harris-down-payment-assistance-proposal/">without solving supply issues</a>.Although Trump has said that he <a target="_blank" href="https://www.businessinsider.com/trump-biden-housing-crisis-policy-rising-home-prices-apartment-rents-2024-6">would offer tax incentives</a> to first-time homebuyers, his campaign has not released details about the amount of aid.As president, Trump proposed <a target="_blank" class="" href="https://www.businessinsider.com/trump-biden-housing-crisis-policy-rising-home-prices-apartment-rents-2024-6">major cuts</a> to the federal Department of Housing and Urban Development's budget, including slashing housing assistance and community development aid."Qualifying income for a household to be able to afford the typical price of a home right now is six figures," Jessica Lautz, the deputy chief economist and vice president of research at the National Association of Realtors, said. "That can be really impossible to imagine for someone who is a school teacher."<h2 id="622bc6c7-b5ce-4d83-9740-314714da24ed">Urban vs. rural housing</h2>In dense urban areas, Harris hopes her plan can usher in new construction by <a target="_blank" class="" href="https://www.businessinsider.com/yimbys-harris-housing-policy-walz-lower-home-prices-affordability-2024-8">removing some zoning restrictions</a> that prevent multifamily townhomes, condos, and duplexes from being built.Harris has emphasized her desire to expand housing in rural America in recent weeks. In a <a target="_blank" href="https://static.politico.com/6c/c1/6cc380c24392aef810eaf3ae648f/harris-campaign-rural-plan.pdf">memo</a> released in September, she said her plan would include $7.2 billion in infrastructure investments and potentially boost economic growth.While in the White House, Trump <a target="_blank" href="https://www.wsj.com/articles/well-protect-americas-suburbs-11597608133">opposed</a> the construction of high-density housing in single-family zoned areas, arguing that he would "save" the suburbs from the Democratic Party. It's unclear if Trump still wants to pursue similar policies.While in office in 2017, Trump proposed a budget for the 2018 fiscal year that <a target="_blank" href="https://www.washingtonpost.com/news/post-nation/wp/2017/05/23/heavy-cuts-to-rural-development-and-infrastructure-in-latest-trump-budget/">would have significantly cut</a> rural housing subsidies. The bulk of these proposals never came to fruition.<h2 id="e4a11dbe-840d-4cd2-960e-91b271fa111b">Action against big landlords</h2>Harris has said she will take action against "<a target="_blank" href="https://www.businessinsider.com/kamala-harris-ban-landlords-raising-rent-algorithms-realpage-2024-8">corporate landlords</a>," and call on Congress to remove tax benefits from investors who acquire 50 or more single-family rental homes. Her planned investment in a federal innovation fund would also incentivize cities to build more rental options.This is in response to <a target="_blank" href="https://www.census.gov/newsroom/press-releases/2024/renter-households-cost-burdened-race.html">nearly half</a> of America's renters in 2024 being considered "cost-burdened," meaning at least 30% of their income goes to housing. In some cities, <a target="_blank" href="https://www.businessinsider.com/cities-wage-growth-rent-increases-texas-housing-costs-florida-nyc-2024-5">higher rents are also outpacing wages</a>.While Trump has called for the construction of more housing — which would include rental units and homes — he has not provided details about how his plan would specifically impact renters. While in office, Trump <a target="_blank" href="https://www.presidency.ucsb.edu/documents/executive-order-13945-fighting-the-spread-covid-19-providing-assistance-renters-and#:~:text=Prior%20to%20passage%20of%20the%20Coronavirus%20Aid,">implemented</a> a temporary eviction moratorium to keep Americans housed during the pandemic.

How the cost of housing is expected to change under Trump or Harris

The offers and details on this page may have updated or changed since the time of publication. See our article on <a href="https://www.businessinsider.com/ray-dalio-bridgewater-billionaires-personal-finance-advice-debt-election-china-2024-11" target="_blank">Business Insider</a> for current information.<ul class="summary-list"><li>Ray Dalio says identifying your basic needs and ensuring they're covered is key to a happy life.</li><li>People can save money and ease their financial worries by focusing on the essentials, he said.</li></ul>Ray Dalio says figuring out your fundamental needs and setting aside enough cash to cover them is key to solving money troubles. He also sees a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/ray-dalio-bridgewater-fed-rate-hikes-inflation-economy-dollar-china-2022-10 ">dangerous trio</a> of threats to the US.The founder of Bridgewater Associates, the world's largest hedge fund, spoke on "Tom Bilyeu's Impact Theory" in an episode released on Tuesday. Dalio is worth just over $16 billion, per the Bloomberg Billionaires Index.He advised people to analyze their incomes, expenses, and savings, then conduct a stress test by calculating how many months or years they could afford an acceptable lifestyle if their income was cut or went to zero and they had to <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/what-is-an-emergency-fund">rely on savings</a>.The author, investor, and official mentor to Bridgewater's three co-chief investors said <a target="_blank" class="" href="https://www.businessinsider.com/kevin-oleary-shark-tank-wasting-money-retirement-personal-finance-advice-2024-10">many people have lost touch</a> with what's essential to life — such as a bed, food, and basic healthcare."I think we visualize too much the <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/lifestyle-creep">things that we're used to</a>," Dalio said. Focusing on the basics instead can relieve stress and lead to a "happy life." Dalio said he's "seeing a number of people who are <a target="_blank" class="" href="https://www.businessinsider.com/us-economy-credit-card-debt-yolo-consumer-spending-recession-rosenberg-2024-2">going broke</a>," and they could benefit from figuring out what they need in life and building their budgets around those things."It's the ambiguity, it's the worry, it's the <a target="_blank" class="" href="https://www.businessinsider.com/tips-financial-planner-young-people-anxious-about-money-2024-10">stress</a>," he said. "So if you do that from the beginning, and you have that played out in your head, then you know everything from there you can play with, and it's your icing on the cake. Once you've got safe, everything beyond that is luxury."<h2 id="d4e0bf4d-cde1-476e-ad7c-c91e202d6868">Debt, infighting, and geopolitics</h2>Consumers have been hit hard by soaring prices for food, fuel, housing, and other basics in recent years. They've also seen the monthly payments on their credit cards, car loans, mortgages, and other debts soar. Higher inflation and interest rates have made the economy a <a target="_blank" class="" href="https://www.businessinsider.com/election-preview-consumer-outlook-how-trump-harris-housing-taxes-2024-11">key concern for voters</a> ahead of the presidential election.Dalio said on the podcast that people should first take care of themselves, then hope their leaders build an economy that will "increase the size of the pie as well as divide the pie well."If those in charge won't cooperate with their political rivals, the result can be unproductive infighting that weakens the economy, he said. Failing to unite the country could result in revolution and subpar management, which Dalio deemed the "greatest risk" from a political standpoint.He also <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/ray-dalio-us-debt-crisis-economy-recession-outlook-borrowing-ceiling-2023-6 ">rang the alarm</a> on the potential financial and economic fallout from the US government's <a target="_blank" class="" href="https://www.businessinsider.com/ray-dalio-economy-government-debt-crisis-recession-bridgewater-fed-rates-2023-9 ">mushrooming debt pile</a>, internal conflict fueled by a massive wealth gap, and mounting challenges to America's global dominance from China and Russia.Dalio said US politicians are "<a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-rage-presidential-debate-strategy-reaction-election-2024-9">at each other's throats</a>" as the Republican and Democratic presidential candidates, Donald Trump and Kamala Harris, wait to learn who's been victorious."The dominoes are beginning to fall," he said about the <a target="_blank" class="" href="https://www.businessinsider.com/nycb-regional-bank-fears-commercial-real-estate-turmoil-fears-2024-2">stresses</a> on regional banks, commercial real estate, venture capital, private equity, and the wider tech sector both in the US and overseas. The investor blamed those issues at least partly on excessive government spending and irresponsibly low interest rates."We're going to have financial problems and economic problems at the same time as we have this internal fighting and this, an external risky situation," Dalio added.

Billionaire Ray Dalio says people should budget for the basics — and the US faces 3 huge threats

<ul class="summary-list"><li>Used electric vehicles became more affordable after a new tax credit kicked in in January 2023.</li><li>Driving range and driving habits can affect the type of used EV you should shop for.</li></ul>Electric-vehicle prices are falling across the board. And as <a href="https://www.businessinsider.com/nissan-kicks-review-price-rare-find-under-30k-2024-10">more models flood the market</a>, you can get a particularly good deal on a used EV.But shelling out thousands of dollars on an unfamiliar piece of technology (especially one that's been around the block a few times) is daunting for some shoppers.Aside from wondering <a href="https://www.businessinsider.com/cheapest-electric-car-affordable-kia-ford-chevy-hyundai-nissan-2022-6">which car to buy</a>, used-EV shoppers might be wondering whether the battery could die. Shoppers on a budget might also be looking for more ways to save money, as EV tax credits broadened to include used electric cars in January 2023.The research can be a lot to take on at once. We talked to car-buying experts to demystify the process.<h2>Consider where and how much you drive</h2>Scott Case, the cofounder and CEO of Recurrent, a startup that tracks EV battery health, recommended starting by considering how far you typically drive and the climate you live in — those factors will affect how much range you'll want, as EVs perform best in temperate weather and can't drive quite as far in cold temperatures."Let's say you live in Florida and you drive 30 to 50 miles every day — you can pretty much buy anything," Case said. On the other hand, people who travel 150 miles daily and live in the occasionally frigid Midwest would need to shop around for a long-range vehicle.<div type="image" title="A gray Tesla Cybertruck plugged in at a public charging station." height="1150" width="1533" msid="114294136" hostid="261" sizebytes="313240"></div>Most older electric cars don't have the range of the latest offerings — you might find models with estimates from the Environmental Protection Agency of only 80 to 120 miles.<h2>Battery range will degrade over time</h2>Anyone who's owned a smartphone knows that lithium-ion batteries wear out over time. Pretty much the same goes for EVs.As the years go by, cycles of charging and driving wear out an EV's battery pack, reducing driving range. The vehicle-data firm Geotab has estimated that EV batteries <a href="https://www.geotab.com/blog/ev-battery-health/" target="_blank" rel="noopener">tend to lose about 2% of their capacity each year</a>.The good news is that an EV's battery is unlikely to fail completely or render the car useless.But understanding how much life a vehicle has left isn't all that simple. Case said that exposure to extreme temperatures, frequent trips to powerful DC fast chargers, and variations in battery chemistry mean some used cars perform better than others with identical mileage.<div type="image" title="A charging cable extending from a Tesla Supercharger to a Chevrolet Equinox EV." height="3024" width="4032" msid="114294138" hostid="261" sizebytes="789912"></div>Jim Fish, a vice president of Opus IVS, a tech-focused collision-repair company, said the best question to ask about a battery's care is how often it was left below 20% and above 80% of its charge.Leaving a battery too close to empty or on a full charge for too long affects its ability to hold a charge, Fish said."Of course, you might struggle to find out the truth to that question," Fish said.Recurrent provides reports on EV battery health aimed at helping shoppers choose between cars.<h2>You can get up to $4,000 off thanks to federal tax credits</h2>At the start of last year, a <a href="https://www.businessinsider.com/federal-state-electric-car-vehicle-tax-credits-rebates-qualify-2023-1">used-EV tax credit went into effect</a> as part of a larger incentive program in the Inflation Reduction Act. Automotive retail analysts described it as a welcome change for EV shoppers on a budget.To <a href="https://www.businessinsider.com/ev-tax-credit-suv-tesla-model-y-ford-mach-e-2023-2">qualify for the credit</a>, the vehicle must be purchased at a dealership so that the dealer can report the required information to the IRS.The buyer must be purchasing the vehicle for personal use and not for resale, must not be the original owner of the vehicle, must not be able to be claimed as a dependent, and must not have used any other clean-vehicle credit in the previous three years. Income caps for buyers range from $75,000 to $150,000, depending on their tax-filing status.The vehicle must have a sale price of $25,000 or less and must be at least two model years old.Many states also have tax incentives for purchasing EVs. More detailed information and required forms can be found on the <a href="https://www.irs.gov/credits-deductions/used-clean-vehicle-credit" target="_blank" rel="noopener">IRS's website</a>.

Considering an electric vehicle? Experts explain how to pick one for your lifestyle and budget

New Delhi [India], July 24 (ANI): A <keyword id="4261957" type="General" weightage="20" keywordseo="general-discussion" source="Orion">general discussion</keyword> on the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> and the budget for the Union Territory of Jammu and Kashmir for the fiscal year 2024-25 will be held in the <keyword id="19895369" type="General" weightage="100" keywordseo="Rajya-Sabha" source="keywords">Rajya Sabha</keyword> later on Wednesday. <keyword id="19956758" type="General" weightage="20" keywordseo="finance-minister" source="keywords">Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> presented both the Union Budget and the <keyword id="22525621" type="General" weightage="20" keywordseo="Jammu-and-Kashmir-Budget" source="keywords">Jammu and Kashmir Budget</keyword> in the House on July 23. The discussion is crucial as both the budgets shape the financial direction of the country and the Union Territory, respectively. The Union Budget outlines the government's revenue and expenditure plans for the upcoming fiscal year, while the budget for the Union Territory of Jammu and Kashmir is a significant event considering the developmental needs. As per the list of businesses of the Rajya Sabha, the discussion on these two budgets will be convened later in the day. The discussion over these two budgets is expected to start in the second half of the day. According to the list of business of the Rajya Sabha, the ministers that are set to lay the papers on the table are Jayant Chaudhary for the Ministry of Education; Pankaj Chaudhary for the Ministry of Finance; Nityanand Rai for the Ministry of Home Affairs; and Sukanta Majumdar for the Ministry of Education. Besides, Rajya Sabha Secretary General PC Mody will lay on the table the Public Accounts Committee reports. This includes the 124th Report on Construction of Toilets in Schools by CPSEs; the 125th Report on Rejuvenation of the Ganga (Namami Gange); the 126th Report on Avoidable Payment due to Non-Charging of Service Tax/GST from the Passengers; and the 127th Report on Action Taken by the Government on the Observations and Recommendations of the Committee contained in their 46th Report (16th Lok Sabha) on Implementation of the Public-Private Partnership Project at Chhatrpati Shivaji International Airport, Mumbai, among others. The reports were presented to the Speaker on February 23 and April 29, 2024, and to the Chairman, Rajya Sabha, on February 28 and May 13, 2024, before the dissolution of the 17th Lok Sabha. The Speaker had ordered the printing, publication and circulation of the reports. As per the business list of the Rajya Sabha, Union Minister for Parliamentary Affairs Kiren Rijiju will move the motion for election to the committee on the welfare of other backward classes. Kiren Rijiju will also move the motion for nomination to the committee on the welfare of scheduled castes and scheduled tribes. The motion for nomination to the committee on public accounts will also be moved by Union Minister Rijiju in the House today. Moreover, Kiren Rijiju will move the motion for nomination to the committee on public undertakings. Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 on Tuesday during the Monsoon Session of <keyword id="19895397" type="General" weightage="20" keywordseo="Parliament" source="keywords">Parliament</keyword>. Nirmala Sitharaman became the first finance minister to present seven consecutive budget speeches, surpassing former prime minister Morarji Desai's record of six consecutive budgets as finance minister between 1959 and 1964. In her seventh budget, Nirmala Sitharaman outlined key priorities aimed at fostering economic growth and creating ample opportunities. These included productivity and resilience in agriculture, employment, and skilling and services. Prime Minister Narendra Modi on Tuesday hailed the Union <keyword id="15478236" type="General" weightage="20" keywordseo="budget-2024" source="Orion">Budget 2024</keyword> presented by Finance Minister Nirmala Sitharaman. "This budget strengthens every section of society. It takes the country's poor, village and farmers on the path of prosperity," the prime minister said in a video message. The Prime Minister praised the budget, emphasising its potential for job generation by incentivizing the top 500 companies to recruit more youth and also induct interns. The PM said the budget would help India achieve its objective of becoming the third largest economy, besides laying a strong foundation for Viksit Bharat. Union Home Minister Amit Shah on Tuesday also said the Union Budget 2024-25 is game-changing and will go down in history for coupling Bharat's economic growth with the torque of its youth power. He also lauded the government's decision to provide training and internship programmes to youth. The Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, welcomed the Union Budget 2024 laid before Parliament on Tuesday. Calling the Union Budget 2024 a 'visionary document', Sonowal said, "The Union Budget, 2024 lays the roadmap for renewed and holistic growth towards Viksit Bharat. This visionary budget is aimed at empowering the 'Garib' (poor), 'Mahilayen' (women), 'Yuva' (youth), and Annadata' (farmers) so that the process of development reaches every citizen of the country." Assam Chief Minister Himanta Biswa Sarma said on Tuesday that Union Budget 2024 stands out for its unprecedented push towards employment generation and powering small businesses.

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