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<keyword id="20448705" type="General" weightage="20" keywordseo="Waymo" source="keywords" meta.keywordsubtype="org" meta.entityname="Waymo" meta.hostid="261" meta.entityid="Waymo">Waymo</keyword>, the self-driving car whiz kid from Alphabet (aka Google’s big parent company), just made a splash by launching its robotaxis in Los Angeles! This means that anyone with the Waymo One app can now call up a driverless cab across a whopping 129-square-kilometre stretch of the city. It’s like having a robot chauffeur — without the awkward small talk! This isn’t Waymo’s first rodeo with robotaxis. They’ve been rolling around Phoenix since 2020 and then hit up San Francisco last year. In Los Angeles, after a short trial for some lucky early testers, Waymo opened up rides to the public. Now anyone can zip around L.A. traffic in style, with the car’s AI brain in control. Waymo’s journey started as a secret project back in 2009 and has come a long way since then. The company’s <keyword id="19967698" type="General" weightage="20" keywordseo="self-driving-cars" source="keywords">self-driving cars</keyword> have logged over 20 million miles without any major accidents — a record that certainly leaves human drivers in the dust. Meanwhile, Waymo’s competitor, Cruise (owned by General Motors), ran into some trouble when one of its <keyword id="21485769" type="General" weightage="20" keywordseo="driverless-cars" source="keywords">driverless cars</keyword> was involved in an accident with a pedestrian, resulting in a license suspension in California. <div type="Article" hostid="261" msid="107634470" title="A crowd set fire to a Waymo taxi in San Francisco, as tensions about driverless tech grow" mstype="2" mssubtype="0"></div>But Waymo’s big moves in the US raise an interesting question: what would happen if robotaxis rolled out in a place like India? The impact could be massive! India has millions of taxi drivers, and many rely on their daily fares to support their families. Not only is the work gruelling, such “gig workers” often earn shockingly less, and at increasingly shrinking profit margins. One source even noted earning only around Rs 30,000 a month while working as an Ola captain from Bengaluru. Thus, a widespread shift to driverless cars could be a serious blow to their livelihoods, especially in a country struggling with rampant levels of inflation. Therefore, there exists an issue of livelihoods on one hand and technological progress on the other, so if companies like Waymo ever bring robotaxis to India, it could shake things up in a big way. <div type="Article" hostid="261" msid="102751416" title="Sex in self-driving cars: Passengers are reportedly hooking up in San Francisco&amp;#39;s driverless taxis" mstype="2" mssubtype="0"></div>However, on the other side of the spectrum, there are undoubtedly some benefits to moving towards a fully-automated robotaxi fleet. For instance, road accidents cause over 1,50,000 deaths annually in India. Autonomous vehicles,which are designed to follow traffic rules strictly and reduce human error, could help lower these numbers. Additionally, driverless taxis could make transportation more accessible and affordable, especially in densely populated cities with high demand. Furthermore, such robotaxis would also provide a solution for passengers who experience language barriers or inconsistent service quality, as these vehicles are designed for efficient, standardised rides. There is also the hope that they could reduce traffic congestion and pollution with AI-driven routes that minimise idle time and fuel use. Waymo may be rejoicing in the spotlight at the moment, but there are several other companies in the robotaxi race, including Tesla, which has its “Cybercab” in the works, and Amazon’s Zoox, aiming to hit the streets of Las Vegas next year. Baidu’s Apollo is already making robotaxi runs in some Chinese cities, but each company faces its own unique set of challenges. In India, where roads are a blend of honking scooters, zig-zagging rickshaws, and plenty of cows on the streets, introducing robotaxis would require some serious tech tricks and regulatory green lights. Until then, L.A. can enjoy the driverless rides while the rest of us wait to see how this wild technology shapes the future.

No Driver? No Problem! Waymo’s driverless robotaxis make Los Angeles debut — but what could the tech mean for India?

The tallies for each constituency are in, and the arithmetic for the next government is being worked out. If the Narendra Modi-led Bharatiya Janata Party (<keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords">BJP</keyword>) manages to hold onto their alliances, the stage will be set for Modi 3.0. However, if the Congress-led INDIA bloc somehow lures major parties like JD(U) and TDP, they might have a chance, though it is a long shot at the moment. However, with the results out for all 543 constituencies, much has been revealed about the general attitude of the country’s voters. For instance, despite the almost-unshakable belief that the BJP will sweep almost all 80 <keyword id="19894922" type="General" weightage="20" keywordseo="Uttar-Pradesh" source="keywords">Uttar Pradesh</keyword> seats — especially after the Ram Mandir inauguration — the party shockingly only managed to win only 33. Some experts speculate that this outcome came from the party failing to address core issues such as employment and economic anxiety, and instead choosing to focus on religious divide to win ballots. Expert institutions, such as Bernstein and Citi Research, have now noted that new spendings may now thus become focused on the poor, women, farmers and rural areas, especially considering how rapidly BJP’s <a href="https://bfsi.economictimes.indiatimes.com/news/industry/bias-of-markets-expected-rural-agriculture-to-be-the-new-focus-areas-reports/110728041">vote share has dropped in the rural seats</a>. For context, rural constituencies make up 60% of the total constituencies in India, according to The Economic Times. However, this is not to say that the party has clear favourites among the more developed and richer states either. Many of the richest Indian states have expressed mixed to lukewarm reactions towards BJP this election cycle, and even delivered unexpected shockers. For instance, the NDA lost a lot of ground in Uttar Pradesh, <keyword id="19897316" type="General" weightage="20" keywordseo="Maharashtra" source="keywords">Maharashtra</keyword> and Rajasthan — some states with the biggest economies in the country. As for the current scenario, the party favourite remains mixed. Considering that the country has delayed the National Survey by four years, we have to rely on independent sources to come up with more current state-wide economic statistics. Therefore, as per the India Ratings and Research (Ind-Ra), <keyword id="19896017" type="General" weightage="20" keywordseo="Karnataka" source="keywords">Karnataka</keyword>, Uttar Pradesh, Maharashtra, Tamil Nadu and Gujarat formed the five largest state economies in India in the 2023 Financial Year. Let’s take a look at how India’s wealthiest states voted in <keyword id="20886626" type="General" weightage="20" keywordseo="Lok-Sabha-2024" source="keywords">Lok Sabha 2024</keyword>. <cmsannotation type="cmsannotation" annotationid="Karnataka" comment="subhead" text="Karnataka">Karnataka</cmsannotation> Despite struggles with making headway in the South, the BJP had made a clean sweep in Karnataka, bagging 25 seats in the 2019 general elections. While the BJP-JD(S) alliance has managed to retain a majority in the southern state with 17 seats, <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="261" meta.entityid="Congress">Congress</keyword> made an impressive comeback this year, winning 9 seats compared to the 1 in the last election cycle. JD(S) managed to capture the remaining two seats. As for the four Bengaluru constituencies, BJP managed to cling onto all of them as well, with Tejasvi Surya in Bengaluru South, Shobha Karandlaje in Bengaluru North, P. C. Mohan in Bengaluru Central and C. N. Manjunath in Bengaluru Rural. <cmsannotation type="cmsannotation" annotationid="Uttar Pradesh" comment="subhead" text="Uttar Pradesh">Uttar Pradesh</cmsannotation> As mentioned earlier, the biggest controversies came out of Uttar Pradesh. Housing prominent figures such as Chief Minister Yogi Adityanath, the state has been widely considered as a stronghold for the saffron party, who had won a whopping 62 seats in 2019. However, resident voters were determined to take to the booths to voice their dissent this year. Of the 80 UP constituencies — by far the state with the largest number of seats — 37 were won by the Samajwadi Party. Meanwhile, the BJP held onto 33 seats, and the INC 6. The difference is stark: BJP lost 27 of the seats it won in the previous election cycle. Many prominent figures were dethroned this year, including Smriti Irani in Amethi, Union Minister Ajay Kumar Mishra in Kheri and Maneka Gandhi in Sultanpur. However, perhaps the biggest shocker came from the fact that the BJP also lost the Faizabad Lok Sabha seat, which housed the contentious Ram Temple. Awadesh Prasad of the Samajwadi Party will be chairing the constituency for the next five years. Prime Minister Narendra Modi, too, contested for the Varanasi seat, beating INC’s Ajay Rai by a margin of 2.5 lakh votes. <cmsannotation type="cmsannotation" annotationid="Maharashtra" comment="subhead" text="Maharashtra">Maharashtra</cmsannotation> Another of the biggest losses for the BJP also saw a resurgence for Congress in the state with the highest <keyword id="35050" type="General" weightage="20" keywordseo="gdp" source="Orion">GDP</keyword>. While the NDA had clinched 41 out of the 48 seats in the previous 2019 elections, it managed to bag a paltry 9 this time around. While this is a monumental loss for the ruling party, they managed to hold firmly onto most of the coastal Konkan belt. Headed by the Mahayuti alliance, the BJP won 7 of the 12 coastal seats, including in Palghar, Ratnagiri-Sindhudurg and Mumbai North. Meanwhile, the Shiv Sena (UBT) maintained its hold on half of the six Mumbai constituencies. Of the four Mumbai Metropolitan Region (MMR) seats, NCP (SP) won Bhiwandi, Shinde-led Shiv Sena won Thane and Kalyan and BJP won Palghar. <cmsannotation type="cmsannotation" annotationid="Tamil Nadu" comment="subhead" text="Tamil Nadu">Tamil Nadu</cmsannotation> Of all the economic powerhouses, Tamil Nadu was the only state untouched by the BJP this year. Out of the 39 seats in the state, the MK Stalin-led Dravida Munnetra Kazhagam (DMK) came out victorious in 22, the INC won 9, while a coalition of other parties bagged the remaining seats. This was a massive win for the DMK, especially considering the two major opposition parties, the AIADMK and BJP, had come together to contest this year. Considered by many as BJP's most promising candidate, K Annamalai, too lost to DMK’s Ganapathi P Rajkumar in Coimbatore. <cmsannotation type="cmsannotation" annotationid="Gujarat" comment="subhead" text="Gujarat">Gujarat</cmsannotation> While most of the other states endured major plot-twists, the story has remained almost the same for Narendra Modi’s home state, Gujarat. As per final polls, the BJP won 25 of the total 26 seats in the state, falling short of a full clean sweep due to INC clutching the final one. However, the INC win in the Banaskantha Lok Sabha seat was no small victory, considering this was the first time in a decade that the party had made ground in the western state. Meanwhile, Home Minister Amit Shah contested and won from state capital Gandhinagar by a massive margin of nearly 7.5 lakh votes.

Lok Sabha 2024: How BJP, Congress and other parties have performed in states with largest economies in India

<ul><li>It can be difficult to grasp just how big Apple's ascent to a $3 trillion valuation really is.</li><li>The iPhone maker's market cap makes it bigger than France's economy and double the size of India's entire stock market.</li><li>Here's what else Apple is now bigger than after it became the first company to reach the $3 trillion milestone.</li></ul><a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple's</a> ascent to <a href="https://markets.businessinsider.com/news/stocks/apple-stock-price-hits-historic-3-trillion-valuation-iphone-aapl-2023-6">a $3 trillion valuation makes it the highest valued company in the world,</a> but that size can be difficult to grasp given just how big that number is.That's 3,000 billions, or 3 million millions. That's also slightly bigger than France's annual gross domestic product, and its nearly double the size of India's entire stock market.To fully appreciate just how big Apple's current $3 trillion valuation is, Insider compiled a list of the different economies and country stock markets that are now eclipsed by the size of one single American company.The massive size of Apple is backed up by its underlying business of selling high-tech products that have a massive ecosystem built around it, making it more and more difficult for its customers to leave for a competitor. Apple is on track to generate $400 billion in annual revenue and $100 billion in annual profit.While the iPhone makes up the bulk of Apple's business, even Apple's AirPods are estimated to generate enough annual revenue that would make it a Fortune 500 company if it were a standalone business.Here's what else Apple is now bigger than after it became the first company to close above a $3 trillion valuation on Friday, according to data from Bloomberg and Dimensional Fund's 2023 Matrix Book.8. Germany's Entire Stock Market<div type="image" title="oktoberfest" height="683" width="1367" msid="101419845" hostid="261" sizebytes="105830"></div>Number of companies: 255 Combined value: $1.33 trillion7. India's Entire Stock Market<div type="image" title="New Delhi India" height="600" width="1200" msid="101419847" hostid="261" sizebytes="73970"></div>Number of companies: 1,242 Combined value: $1.44 trillion6. Italy's Entire Economy<div type="image" title="Tourists at the Colosseum in June 2022" height="2617" width="5236" msid="101419850" hostid="261" sizebytes="984276"></div>Italy's 2022 GDP: $2.01 trillion5. Canada's Entire Economy<div type="image" title="Toronto, Canada" height="1000" width="2000" msid="101419852" hostid="261" sizebytes="183944"></div>Canada's 2022 GDP: $2.14 trillion4. China's Entire Stock Market<div type="image" title="Beijing, China." height="2452" width="4905" msid="101419854" hostid="261" sizebytes="757800"></div>Number of companies: 2,119 Combined value: $2.53 trillion3. The United Kingdom's Entire Stock Market<div type="image" title="buckingham palace rainbow" height="1500" width="3000" msid="101419856" hostid="261" sizebytes="108406"></div>Number of companies: 595 Combined value: $2.62 trillion2. France's Entire Economy<div type="image" title="The Eiffel Tower, lit up against the night sky" height="1499" width="3000" msid="101419858" hostid="261" sizebytes="131190"></div>France's 2022 GDP: $2.78 trillion1. The Combined Value of Bottom 200 Companies in the S&amp;P 500<div type="image" title="US investors new york stock exchange wall street" height="2738" width="5477" msid="101419860" hostid="261" sizebytes="3211072"></div>Combined value: $2.92 trillion

Apple just eclipsed a $3 trillion valuation. Here are 8 things the iPhone maker is now bigger than, including France’s economy and India’s entire stock market.

New Delhi, Feb 27 () Shared economy in India is poised to become a USD 2 billion industry by the end of the year, a report by Maple Capital Advisors said on Thursday. Also, such services attracted about USD 3.5 billion worth of private equity, and USD 262 million in mergers and acquisitions (M&amp;A) between 2015-19, the report titled 'Shared Economy - India Story' said. The sector, predominantly driven by shared mobility, co-working, co-living and furniture rentals, is pegged to be an about USD 2 billion industry in the organised-end and growing in double digits, it said. In 2019, the segment was estimated to be about USD 1.5 billion in size in India. Shared economy includes segments like co-working (Awfis, WeWork India), co-living (Stanza Living, OYO Life, Oxford Caps), shared mobility (Uber, Ola, Shuttl) and furniture rental (Furlenco, Rentomojo.) "High mobile penetration, high millennial concentration, and an aspirational population, Asia has highest willingness to use shared assets. India mirrors Asia trends in these aspects and is thus, poised for high growth and adoption of shared services," it added. Maple Capital Advisors Managing Director Pankaj Karna said India is at the cusp of a shared economy revolution. "We are already witnessing phenomenal growth in this segment with both international companies and home-grown start-ups vying for market share. Even as the space is nascent over USD 3.7 billion has been invested in this space," he said. Karna added that this is expected to accelerate on the back of compelling demand and unit economics. SR ABM

Shared economy in India to be USD 2 bn industry by 2020-end: Maple Capital

Want your children to know about cashless transactions and how the digital economy works? Mr. <keyword id="67392" type="UNKNOWN" weightage="20" keywordseo="Monopoly">Monopoly</keyword> simplifies this for you by introducing <keyword id="4899885" type="ORGANIZATION" weightage="20" keywordseo="monopoly-electronic-banking">Monopoly Electronic Banking</keyword>, a modern twist on the classic Monopoly game loved by one and all. 
	
	
	
	
	
	
	
	















 Inspired by the cashless drive and the move towards a digital economy in India, Mr. Monopoly made a historic addition to the classic board game by introducing a cashless version, encouraging players to upgrade to “Monopoly Electronic Banking” with a series of incentives. Check out the announcement here- 
 <div type="Youtube" id="qp1Myhe7pmk" title="Mr. Monopoly’s Cashless Drive - Hasbro Gaming India" thumbUrl="https://i.ytimg.com/vi/qp1Myhe7pmk/mqdefault.jpg"></div>



 Monopoly <keyword id="913802" type="ORGANIZATION" weightage="20" keywordseo="electronic-banking">Electronic Banking</keyword>, comes with 4 color coded debit cards and an easy play electronic banking unit. The game combines the best of classic Monopoly with electronic transactions. As with the original version, players still operate with money, learn real-world economics, competition and strategy, try to stay out of jail, and attempt to get super rich and ‘own it all’. <div type="image" title="A7444_DAD_Games_EMonopoly_US_6558" msid="60154849" hostid="261"></div>













































































	
	
	
	
	









 The in-game cash and bank is replaced with the 4 colorful debit cards that players can scan on a handheld Electronic Banking unit to make purchases and pay off debts. With Monopoly Electronic Banking, you can now store millions on your Monopoly bank card. 
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	<div type="image" title="E_Banking_Cards" msid="60163680" hostid="261"></div>




































 Monopoly Electronic Banking reflects how the real world now uses money and will continue to help players understand and learn responsible money management. Watch the video. 
 <div type="Video" msid="60159767" hostid="261" title="Inspired by the move to digital economy in India, Mr. Monopoly goes on a cashless drive" dataSource="BUSINESSINSIDER" thumbUrl="http://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=60159767&amp;ssoToken=97a80e8f8fc9461689dbe08e3ad77fb3"></div>



 To upgrade to this new avatar of the game, Mr. Monopoly is inviting his consumers to exchange any of their old Monopoly paper notes for a 100-rupee cash discount on Monopoly Electronic Banking at major toy stores. Alternatively, consumers who don’t own a monopoly set yet, can take a social pledge to “Join Mr. Monopoly’s Cashless Drive” on www.monopolyebanking.com and redeem the cash discount at www.amazon.in. The micro site also provides the consumer with details on the nearest partner toy store locations, where old monopoly paper notes can be exchanged to avail the Rs 100 discount.
 	

 The game includes 1 Gameboard, 28 Title Deed Cards, 16 Chance Cards, 16 Community Chest Cards, 32 Houses, 12 Hotels, 4 Tokens, 2 Dice, 1 Electronic Banking Unit, 4 Electronic Banking Cards and Game Guide.

	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	<div type="image" title="A7444EF10_5010994941345_main_15" msid="60154850" hostid="261"></div>














































































Monopoly Electronic Banking priced at Rs 1799 is available at all major retailers across India. <a href="http://www.monopolyebanking.com/">Join Mr. Monopoly’s Cashless Drive</a> (This post is powered by Monopoly and authored by <keyword id="210137" type="ORGANIZATION" weightage="20" keywordseo="hasbro">Hasbro</keyword>)

Inspired by the move to digital economy in India, Mr. Monopoly goes on a cashless drive

One salient point of Prime Minister <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword>’s election manifesto was the war that his party (Bharatiya Janata Party) waged on black money. During the tenure of the UPA government, scams rolled out one after another, exposing way too many influential personalities who had made a quick buck. But the saga of Indian politicians stacking their booty in the <keyword id="43603" type="CITY" weightage="100" keywordseo="Swiss-Bank">Swiss Bank</keyword> (among other financial institutions) isn’t limited to the past decade alone. 
 
So, it’s little wonder that the financial analysts are placing the bet on the final figure of the black money. An estimated $2 trillion is sitting snug in the banks abroad, but mostly in Swiss Bank. And the holders of this money, obviously billionaires, are steadily climbing the global charts of ‘influential personalities’ day after day. 
 
It was in 2011 that a WikiLeaks announcement released a list of Indian black money hoarders. In the same year, Anil Harish, one of India’s best minds on tax matters, spoke at length on the impact of hacking of nearly 700 accounts, held by powerful Indians at HSBC Geneva. The list released by WikiLeaks created uproar and it has been found that both resident and non-resident Indians are equally guilty. Charges included that of tax evasion while the hoarders chose to put away their wealth in the banks offshore. 
 
Without wasting much time after he assumed office, Prime Minister Narendra Modi set up a Special Investigation Team, which has been approved by the Supreme Court of India. This has surely sent jitters down the spine of otherwise complacent businessmen and politicians who made hay while the sun shone, through illegal methods. 
 
A poverty-stricken India has been struggling to change its image from a country that was ‘developing’ for a long time to an economic ‘super power.’ According to World Bank reports, poverty in India is waiting to reach another level, with an estimated 11.8% of total population living below the line of poverty and earning less than $1.25 per day in 2014. 
 
The only breather is the fact that poverty has consistently reduced over the past few years. However, if and when the black money heads back to the country where it belongs, it will still be more than India’s GDP. 
 
The contradiction between black money and existing poverty levels notwithstanding, Indian hoarders will probably take solace in knowing that the phenomenon is not limited to their country alone. In fact, some of the biggest black money holders are in China and Russia. When a list of such violations was compiled taking each country into account, India stood third, with China leading the list. However, that would not bring any respite to the nation. 
 
Although the US and the UK have cracked down on their tax violators, India has never shown the determination to track down the black money. The Indian middle class turned angrier and joined hands with anti-corruption activist Anna Hazare when he waged a battle against rising corruption. 
 
India, Asia’s third largest economy, loses an estimated $60 trillion annually in taxes, as far as formal sectors and financial institutions are concerned. Independent studies and International Monetary Fund (IMF) data on trade flow also show that an annual amount of nearly $6 trillion cannot be accounted for. That this amount will go into individual accounts or fake trusts, is a known fact. 
 
Arun Kumar, author of The Black Economy In India, arrived at a total figure of $2 trillion when he was researching data for his book. A professor at the reputed Jawaharlal Nehru University, Kumar has been collating reports on black money from various sources. 
 
According to him, the $2 trillion stashed abroad is unaccounted for and has been illegally accumulated by evading taxes that rightfully belong to the country and its people. Moreover, the amount of the money hoarded calls for the dues (interest, penalty, etc., levied for tax evasion) and that will very well cross $600 billion. 
 
This has set the country back among the BRICs (Brazil, Russia, India and China) owing to the simple fact that although resourceful, India has not been able to post a vibrant tax collection report as against its GDP. This can seriously hamper the living conditions of the poor in the country, deprive businesses of necessary financial support and scale down India’s image in the long run. 
 
The government held an olive branch in the past to 700 HSBC Germany account holders who kept an undisclosed amount in their accounts aboard. Nearly 100 members made amends for it while the rest resisted the process. Apart from HSBC and Swiss Bank, Liechtenstein and British Virgin Islands are also offering safe havens for black money hoarders from various countries, including India and China. 
 
The gravity of the situation could well be understood from the fact that the largest number of foreign depositors in Swiss Bank is reportedly Indians. If this can change, the country is bound to witness prosperous days ahead.

Will India’s ‘Black Money’ Come
Home This Time?

New Delhi: The <keyword id="20072894" type="General" weightage="20" keywordseo="rural-economy" source="keywords">Rural economy</keyword> of <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> has emerged as a significant driver of <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword>, outpacing urban areas largely due to increased <keyword id="20155204" type="General" weightage="20" keywordseo="government-spending" source="keywords">government spending</keyword> in the recent quarters, highlighted a report by <keyword id="20548750" type="General" weightage="100" keywordseo="Anand-Rathi" source="keywords" meta.keywordsubtype="org" meta.entityname="Anand Rathi" meta.hostid="153" meta.entityid="Anand Rathi">Anand Rathi</keyword>, a financial service company. "<keyword id="20109648" type="General" weightage="20" keywordseo="rural-india" source="keywords">Rural India</keyword> continues to outpace urban areas in growth, largely due to a significant rise in government spending in rural regions in the last quarter," said the report. For the coming months, the report stated that the growth trend in the rural economy is expected to continue, although a moderation in growth may occur. It also added that the favourable monsoon conditions and improved sowing data are anticipated to sustain the upward trajectory in <keyword id="19931574" type="General" weightage="20" keywordseo="rural-demand" source="keywords">rural demand</keyword>, providing a buffer against potential economic uncertainties. "We expect this growth to moderate following the elections, favourable monsoon conditions and improved sowing data should sustain the upward trend in rural demand". The report also highlighted that the government's ambitious capital expenditure plans, amounting to Rs 11.1 trillion, are expected to stimulate infrastructure development, further enhancing rural economic prospects The rural economy plays a crucial role in the development of the country because a majority of the population still resides in rural areas. As per the Economic Survey of 2022-2023 around 65 per cent of India's population lived in rural areas in 2021. The report also highlighted that India stands out among emerging economies due to its strong GDP growth. Last year, India grew by more than 8 per cent, and the <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords" meta.keywordsubtype="org" meta.entityname="RBI" meta.hostid="153" meta.entityid="RBI">RBI</keyword> expects a 7.2 per cent growth rate for FY25. The financial outlook is positive, with efforts to cut the fiscal deficit to 4.5 per cent. The report also noted that India's credit rating may improve because of the strong tax revenue and a large dividend from the RBI which will lead to a lower fiscal deficit than expected. "The fiscal outlook appears promising, with continued focus on reducing the fiscal deficit toward the 4.5 per cent target. Strong tax collections and a substantial RBI dividend may enable the fiscal deficit to come in lower than expected, which could potentially lead to an improved sovereign rating" said the report.

Rural economy is driving India's growth, Govt capex in infra will stimulate it: Anand Rathi report

New Delhi: India's <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">Initial Public Offering</keyword> (IPO) market witnessed a resurgence in 2024, with a total of 272 companies going public compared to 164 during the previous fiscal year, highlights a report by <keyword id="19901201" type="General" weightage="100" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>. The market regulator SEBI stated that upbeat secondary markets, enthusiasm from retail investors, and strong institutional flows set the stage for a flurry of new listings. "After a relative moderation during 2022-23, the equity segment witnessed a resurgence in fundraising activity during the current fiscal. The <keyword id="19926041" type="General" weightage="20" keywordseo="IPO-market" source="keywords">IPO market</keyword> had been vibrant with a total of 272 companies going public as compared to 164 during the last fiscal year," said SEBI. The report also noted that India received the highest <keyword id="20018891" type="General" weightage="20" keywordseo="foreign-investment" source="keywords">foreign investment</keyword> in the year 2023-24, as the investment surged to a new high of Rs 3.4 lakh crore. It also added that the investment in the year 2023-24 is the highest since the year 1992-93. "Compared to net outflows of Rs 40,936 crore in 2022-23, FPIs invested Rs 3.4 lakh crore in India during 2023-24, which was the highest since 1992-93," said SEBI. SEBI highlighted that Foreign Portfolio Investment and foreign venture capital investment are crucial for emerging economies like India. FY 2023-24 was an exceptional year for India in terms of foreign portfolio investment flows. It added that India's continuing growth resilience, financial stability, reining in of inflation, fiscal consolidation coupled with the persistence of inflation in advanced economies, uncertain geopolitical scenarios, etc., attracted a record level of foreign flows to India. The report noted that in the midst of a subdued global economic scenario with recession risks and monetary tightening, India's economic prospects were bright among emerging markets, driven by a fillip in manufacturing and service sector activities, easing inflation, fiscal consolidation, financial stability, and buoyant <keyword id="20977711" type="General" weightage="20" keywordseo="market-performance" source="keywords">market performance</keyword>. According to the sector-wise breakup on FPI investment, the report stated that out of the consolidated Rs 64.2 lakh crore equity assets held by FPIs, Rs 18.6 lakh crore were invested in financial services, followed by oil, gas, and consumable fuels (Rs 6.0 lakh crore), information technology (Rs 5.9 lakh crore), and automobile and auto components with Rs 4.8 lakh crore invested.

In FY24, 272 companies went public as compared to 164 in FY23: SEBI

The Indian <keyword id="21219153" type="General" weightage="20" keywordseo="employment-market" source="keywords">employment market</keyword> is projected to experience a 6.33% incremental expansion over the first half of FY 2024-25, according to a report by TeamLease. The report highlighted that 56% of employers expect their workforce to grow, 21% anticipate a decline, and 23% believe their workforce size will remain unchanged. The report provided a detailed analysis of the <keyword id="21680463" type="General" weightage="100" keywordseo="Indian-job-market" source="keywords">Indian job market</keyword> across 23 industries and 20 cities. It highlighted workforce expansion trends, emphasizing the impact of <keyword id="20509550" type="General" weightage="20" keywordseo="economic-conditions" source="keywords">economic conditions</keyword>, organizational dynamics, skill shortages, and <keyword id="20358462" type="General" weightage="20" keywordseo="technological-advancements" source="keywords">technological advancements</keyword> on hiring strategies. The growth in the employment market is attributed to the favourable economic conditions in the country, including a nearly 7% GDP growth forecast for 2024 by most global rating agencies, which would make India the fastest-growing G-20 nation. Strong investment demand, peaking headline inflation, and a greater emphasis on technology and skills by employers are also key factors. In terms of cities, Delhi, Bangalore, and Hyderabad emerged as the top cities with the highest proportion of employers expanding their workforce sizes. These cities attract businesses due to their established infrastructure, large talent pools, and economic vitality. The consistent preference for these major cities underscores their significance as job concentration hubs, despite the growing trend of expansion into new locations. These urban centres play a strategic role in driving employment growth and economic development in India. The report also noted that nearly two out of five organizations are focusing on bridging skill gaps, highlighting a shift towards a more adaptable and skilled workforce in preparation for technological advancements and new skills. The report said that Generative AI (<keyword id="19949719" type="General" weightage="20" keywordseo="GenAI" source="keywords">GenAI</keyword>) is particularly noteworthy, as it has the potential to transform key business processes, impacting workforce dynamics and reshaping talent management. In response, 35% of surveyed organizations reported significant changes in their talent acquisition strategies to integrate advanced AI technologies. On the unemployment front, the report stated out that a significant portion of the unemployed workforce, nearly 83%, consists of youth aged 15-29. Over the past two decades, there has been a significant increase in the educational attainment of these unemployed youths. The proportion of those with at least secondary education rose from 35.2% in 2000 to 65.7% in 2022, indicating a rising educational profile among the unemployed. However, the national <keyword id="20054242" type="General" weightage="20" keywordseo="unemployment-rate" source="keywords">unemployment rate</keyword> has progressively decreased, falling to 3.1% in 2023 from 3.6% in 2022 and 4.2%in 2021. The unemployment rate in urban areas also decreased from 7.2% to 6.5% for persons aged 15 years and above between October-December 2022 and October-December 2023. The <keyword id="19913761" type="General" weightage="20" keywordseo="gig-economy" source="keywords">gig economy</keyword> in India is experiencing rapid growth, with the number of gig workers projected to rise from 7.7 million in 2020 to 23.5 million by 2029-30, demonstrating a compound annual growth rate (CAGR) of almost 12%. The distribution of gig work across skill levels includes 47% in medium-skilled jobs, 22% in high-skilled jobs, and 31% in low-skilled jobs, highlighting the diverse opportunities within this sector. In the media &amp; entertainment industry, digital transformation and changing consumer preferences are driving 48% of employers towards <keyword id="22204807" type="General" weightage="20" keywordseo="workforce-growth" source="keywords">workforce growth</keyword> in the first half of FY 2024-25. However, the other half of the industry faces turbulence and uncertainty.

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