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<ul class="summary-list"><li><keyword id="20138372" type="General" weightage="100" keywordseo="Lithuania" source="keywords">Lithuania</keyword> ranks as the <keyword id="23243125" type="General" weightage="20" keywordseo="happiest-place" source="keywords">happiest place</keyword> for those under 30, but it also has very high suicide rates.</li><li>On the surface, it seems like a paradox. But a closer look reveals a stark generational divide.</li></ul>Domantas Katelė, an official in Lithuania's Ministry of Social Security and Labour, is widely known as his country's <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-sick-leave-pto-mental-health-work-from-home-2024-8">"Gen Z"</a> minister. Rings adorn Katelė's tattooed fingers, which he uses to proudly point to his "Politicians make me sick" door sign. At 25, he's the country's youngest-ever deputy minister (he still wears braces), and rarely lets visitors leave his office without taking a selfie. Katelė's portfolio includes <keyword id="20654323" type="General" weightage="20" keywordseo="youth-affairs" source="keywords">youth affairs</keyword>. "It's a golden age for the youth of Lithuania," he told Business Insider during a visit to Vilnius in August. <a target="_blank" class="" href="https://www.businessinsider.com/why-lithuania-happiest-country-young-people-from-local-2024-6">The World Happiness Report</a> backs up his claim, ranking <a target="_blank" class="" href="https://www.businessinsider.com/why-lithuania-world-happiest-country-for-gen-z-millennials-education-2024-6">Lithuania as the happiest place in the world for those under 30</a> earlier this year. But it would be inaccurate to paint <a target="_blank" class="" href="https://www.businessinsider.com/brazil-lithuania-move-career-safety-progression-make-friends-2024-1">Lithuania</a> as some sort of dreamland, Katelė adds. After all, it's also Europe's <keyword id="23243126" type="General" weightage="20" keywordseo="suicide-capital" source="keywords">suicide capital</keyword>. <h2>A paradox?</h2>Though the suicide rates have declined since its independence from the Soviet Union in the 1990s, Lithuania still often leads the European Union in this grim statistic. Between 2019 and 2021, Lithuania had the highest rate of death by intentional self-harm in the 27-country bloc, and, according to the <a target="_blank" href="https://www.oecd.org/en/data/indicators/suicide-rates.html">OECD's most recent data</a>, it had the second-highest suicide rate globally. It seems paradoxical: How can <a target="_blank" class="" href="https://www.businessinsider.com/vilnius-lithuania-happiest-gen-z-cheap-safe-fun-tech-hub-2024-9">a country be great for young people</a> while also being Europe's suicide capital? Katelė lists some of the reasons Lithuania is ranked so highly for young people — some of the<a target="_blank" href="https://ec.europa.eu/eurostat/cache/digpub/housing/bloc-2b.html"> most affordable housing</a> in Europe, free education for many Lithuanians, and a growing economy providing ample job opportunities. Walking the streets of Vilnius in the summer, you'll find stylish young people wherever you look — sipping Aperol Spritzes at Old Town bars, lounging by the river in the artsy Užupis district, or skateboarding at the Baltasis Tiltas Skate Park. <div type="image" title="Užupis waterway" height="4284" width="5712" msid="113488780" hostid="261"></div>Although the city is steeped in history — some very dark and recent — it feels modern and vibrant. But when you talk to <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-men-women-leisure-spending-habits-differ-report-shows-2024-9">Gen Zers</a> in Lithuania about its preeminence, the reaction is often the same: disbelief. A few said it made them laugh. "I was very surprised, and my friends who are living in Vilnius were also surprised," said Adriana Doroškevičiūtė, 23, sipping on an iced coffee at a café in the capital. "I thought we were depressed," she added. "When we receive the opposite of that, you think, what is happening?" Richard Bogu, 23, was also shocked. It's not that he thinks Lithuania is a bad place for <a target="_blank" class="" href="https://www.businessinsider.com/young-people-are-developing-money-dysmorphia-2024-7">young people</a>; just that, like others, he has come to associate the country with bleakness. "We are known for being very sad people," he said, adding: "But, slowly, we're going toward being a small, happy nation." <div type="image" title="Richard Bogu sits down at a coffee table" height="4284" width="5712" msid="113488790" hostid="261"></div>Bogu said he feels optimistic about the future, especially for people his age — the tech industry, in which he works, is booming, <a target="_blank" href="https://www.lrt.lt/en/news-in-english/19/2210828/average-wage-in-lithuania-up-12-sodra">salaries are rising</a>, and jobs are ample. "This country gave me opportunities," he said. A key benefit is that most Lithuanians can enter the workforce unburdened by <a target="_blank" class="" href="https://www.businessinsider.com/regret-paying-off-student-debt-instead-earning-passive-income-2024-7">student debt</a>, as university education is free for many. Wages are rising rapidly, and the expanding startup sector is <a target="_blank" href="https://unicorns.lt/en/news/lithuanian-startups-are-looking-hundreds-employees-not-just-it-specialists?ref=philomaths.tech">eager to hire</a> young talent. <h2>No country for old men</h2>But while things may be looking up for the younger generation, older Lithuanians don't seem to share the same optimism. According to <a target="_blank" href="https://ec.europa.eu/eurostat/databrowser/view/ilc_pw01__custom_12656014/default/table?lang=en">Eurostat's 2023 overall life satisfaction survey of those aged 65 years or over,</a> older Lithuanians are nowhere near as happy as the country's youth. This generational divide bears out in the <keyword id="21021432" type="General" weightage="20" keywordseo="World-Happiness-Report" source="keywords" meta.keywordsubtype="org" meta.entityname="World Happiness Report" meta.hostid="261" meta.entityid="World Happiness Report">World Happiness Report</keyword>. While Lithuania ranked first for those under 30, it was 19th across all age groups, dragged down by its 44th-place ranking for those over 60. "If you don't have children or grandchildren to care for you, you're basically done," Bogu said. <a target="_blank" class="" href="https://www.businessinsider.com/retirees-moving-social-security-cheaper-living-healthcare-canada-japan-mexico-2024-9#:~:text=Retirees%20are%20increasingly%20moving%20abroad,Canada%2C%20Mexico%2C%20and%20Japan.">Retirees</a> in Lithuania receive some of the <a target="_blank" href="https://www.etk.fi/en/work-and-pensions-abroad/international-comparisons/pensioners-income-level-internationally/average-pensions-in-europe/">lowest pensions</a> in Europe, and have <a target="_blank" href="https://ec.europa.eu/eurostat/databrowser/view/tespn060/default/table?lang=en&amp;category=t_ilc.t_ilc_ip.t_ilc_pn">among the lowest median relative income</a> of older people across the European Union. Data provided to BI by Lithuania's Ministry of Social Security and Labour shows that 62% of those who died by suicide in 2023 were over 50, with 8.7% under 30. It's a far starker divide than in countries like the US or UK, pointing to a chasm between the generations. <a target="_blank" href="mailto:grizas.antanas@gmail.com">Antanas Grižas</a>, a clinical psychologist specializing in suicide prevention in Lithuania, said the <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-kid-baby-boomer-parents-generational-differences-parenting-lessons-2024-4">generational divide</a> is deeply felt in the country, as well as elsewhere in the former Soviet Bloc. He told BI that economic factors, such as <a target="_blank" class="" href="https://www.businessinsider.com/boomer-retirement-savings-social-security-pension-budgeting-2024-7">low retirement incomes</a>, certainly impact mental health, but that the historical context is key, too. <div type="image" title="A Soviet-era building with a sign reading &quot;Vilnius&quot; is seen in Vilnius, Lithuania on 28 July, 2024." height="684" width="1024" msid="113488788" hostid="261"></div>"The changes after the fall of the Soviet Union were very fast and drastic," he says. Those who lived through this period faced a double trauma: enduring Soviet rule and navigating the chaotic transition to an independent capitalist nation. Plus, as Grižas points out, psychiatry was sometimes politicized under <a target="_blank" class="" href="https://www.businessinsider.com/vintage-photos-show-life-behind-the-iron-curtain">Soviet rule,</a> with dissidents being labeled as mentally ill, which has strengthened a generational <a target="_blank" class="" href="https://www.businessinsider.com/stephen-hays-mental-health-vc-what-if-ventures-addiction-2024-7">stigma over mental health.</a> "The <keyword id="19919711" type="General" weightage="20" keywordseo="Gen-Z" source="keywords">Gen Z</keyword>, haven't experienced that directly, " he noted. "So it makes total sense that they have different conditioning and a different mindset." Reports like the happiness rankings are also often based on self-assessments, and Grižas suggests that comparisons may play a key part in the variation between the generations. "The younger generation can easily compare and see the progress that we as a nation made," he said. <div type="image" title="Domantas Katelė in front of his office door" height="4284" width="5712" msid="113488778" hostid="261"></div>Katelė, the "Gen Z" minister, agrees that the positive self-assessments among the youth may have been influenced by their awareness of the hardships faced by their elders. While the previous generation was deprived of luxuries, he said Gen Z can relish the <a target="_blank" class="" href="https://www.businessinsider.com/why-gen-z-feels-good-about-money-inflation-jobs-2024-6">freedom to spend</a> the equivalent of $160 on dinner, to vacation abroad, and to participate in democracy. "If they take a look and think about that," he said, "it's just not possible to not be happy." Correction: September 19, 2024 — An earlier version of this story misstated Domantas Katelė’s job title. He is a deputy minister, not a minister.

Lithuania is the world's happiest place for under 30s, but it's also Europe's suicide capital

Around 75 % of <keyword id="20593458" type="General" weightage="20" keywordseo="UPI-users" source="keywords">UPI users</keyword> will stop using it if any transaction charge is levied on the service, a survey by LocalCircles said today. The survey found that 38% of users make over 50% of their payment transactions via <keyword id="19900911" type="General" weightage="100" keywordseo="UPI" source="keywords">UPI</keyword> instead of debit, credit, or any other form of digital transaction. "Only 22 % UPI users surveyed are willing to bear a <keyword id="20813527" type="General" weightage="20" keywordseo="transaction-fee" source="keywords">transaction fee</keyword> on payments, 75% of respondents stated that they will stop using UPI if a transaction fee is introduced," the survey said. The survey comprising three broad areas, claims to have received 42,000 responses from 308 districts but the number of replies on each question varied. The questions regarding transaction fee on UPI received 15,598 responses. The <keyword id="19907219" type="General" weightage="20" keywordseo="National-Payments-Corporation-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="National Payments Corporation of India" meta.hostid="261" meta.entityid="National Payments Corporation of India">National Payments Corporation of India</keyword> (NPCI) posted a record 57% rise in the volume of transactions and 44% rise in value in the 2023-24 fiscal year, compared to the previous fiscal year. For the first time UPI transactions crossed 100 billion and closed at 131 billion in a financial year, compared to 84 billion in 2022-23. In value terms, it touched Rs 199.89 trillion, compared to Rs 139.1 trillion, the report said. The survey found 37 % of respondents shared UPI transaction accounts for more than 50 % of their total payment in value terms. "With UPI rapidly becoming an integral part of nearly 4 in 10 consumers, there is strong resistance to any kind of direct or indirect transaction charges being imposed. LocalCircles will escalate the findings of this survey with the <keyword id="19908390" type="General" weightage="20" keywordseo="Ministry-of-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Finance" meta.hostid="261" meta.entityid="Ministry of Finance">Ministry of Finance</keyword> and <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) so that the pulse of the UPI user is taken into account before any MDR charges are permitted," the survey report said. The survey was conducted online, between July 15 to September 20.

Majority of users say they will stop using UPI if transaction fee is levied, notes a LocalCircles survey

The Indian cement industry is on track to reach 5.09 billion tonnes by 2028-29, driven by robust government investment in infrastructure. According to an IANS report originally attributed to Infomerics Ratings, this marks a compound annual growth rate (CAGR) of 4.9 per cent between 2024 and 2029. In 2022-23, the industry’s market size stood at 3.82 billion tonnes, with a total installed capacity of 622 million tonnes per annum (MTPA) in FY24 and production at 427 million tonnes. Notably, India contributes over 8 per cent to the world’s total installed cement capacity, highlighting its importance in the global market. Despite this, India’s per capita cement consumption is 260 kg—significantly below the global average of 540 kg—indicating substantial room for growth. Globally, the cement market is projected to grow at a CAGR of 4.3 per cent from 2024 to 2032. The sector’s expansion is fuelled by ambitious government initiatives, including an allocation of ₹11.11 lakh crore for infrastructure in FY25 and housing schemes like Pradhan Mantri Awas Yojana. The construction sector consumes 55 per cent of cement production, while public infrastructure projects account for the remainder. The industry also plays a critical role in employment, providing direct jobs to over one million people and creating downstream opportunities for about 20,000 individuals per million tonnes of cement produced. Private players dominate the sector, controlling 98 per cent of production capacity, while public sector units hold a mere 2 per cent. Domestic production meets almost all demand, with imports accounting for just 0.2 per cent of total production in FY23. However, exports have declined recently due to reduced global demand and rising competition. India currently has 341 cement manufacturing facilities, including 159 integrated large cement plants, 120 grinding units, and 62 mini cement plants. Cement production has seen steady growth, with a 7.1 per cent increase in September 2024 and a cumulative growth of 1.6 per cent between April and September of FY25, according to the Ministry of Commerce and Industry. This growth aligns with India’s overall industrial performance, which saw a 2 per cent rise in core industries in September, led by cement, steel, coal, and fertilisers. As India invests heavily in infrastructure and housing, the cement industry is set to play a pivotal role in supporting the nation’s economic and developmental goals. (with IANS inputs)

India's cement industry expected to grow to 5.09 billion tonnes by 2028-29 amid infrastructure push: Report

The taxpayers and tax professionals made their compliances in time, leading to a surge in the filing of Income-tax Returns (<keyword id="20458564" type="General" weightage="20" keywordseo="ITRs" source="keywords">ITRs</keyword>), which resulted in a new record of ITRs filed till <keyword id="22468495" type="General" weightage="20" keywordseo="July-31" source="keywords">July 31</keyword>, 2024. July 31 was the last due date for filing the <keyword id="19948101" type="General" weightage="100" keywordseo="income-tax-returns" source="keywords">income tax returns</keyword>, without having to pay any penalties. The total number of ITRs for assessment year 2024-25 filed till July 31, 2024 is more than 7.28 crore, which is 7.5% more than the total ITRs for assessment 2023-24 (6.77 crore) filed, a <keyword id="19908390" type="General" weightage="20" keywordseo="Ministry-of-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Finance" meta.hostid="261" meta.entityid="Ministry of Finance">Ministry of Finance</keyword> release stated on Friday. An increasing number of taxpayers have opted for the <keyword id="19935168" type="General" weightage="20" keywordseo="New-Tax-Regime" source="keywords">new tax regime</keyword> this year, the <keyword id="19900485" type="General" weightage="20" keywordseo="finance-ministry" source="keywords">finance ministry</keyword> said. Out of the total ITRs of 7.28 crore that have been filed, 5.27 crore have been filed in the new tax regime, as compared to 2.01 crore filed in the old tax regime. Thus, about 72% of taxpayers have opted for the new tax regime, while the rest 28% continue to be in the old tax regime. The filing of ITRs peaked on July 31, 2024 (due date for salaried taxpayers and other non-tax audit cases) with over 69.92 lakh ITRs being filed on a single day. The <keyword id="20404575" type="General" weightage="20" keywordseo="e-filing-portal" source="keywords">e-filing portal</keyword> also observed its highest per hour rate of 5.07 lakh of ITR filing between 7:00 pm to 8:00 pm on July 31. A total of 58.57 lakh ITRs from first time filers were reported, a fair indication of widening of tax base. "A lot of emphasis was provided to educate taxpayers about old and new tax regimes. FAQs and educational videos on the same were designed and uploaded on the e-filing portal," the ministry said. Focused outreach campaigns were carried out on social media to encourage the taxpayers to file their ITRs early. Along with this, unique creative campaigns were also carried out on different platforms. Informational videos in 12 vernacular languages, apart from English and Hindi, were displayed on digital platforms. The ministry said it is encouraging to note that over 6.21 crore ITRs have been e-verified, out of which more than 5.81 crore are through Aadhaar-based OTP (93.56% ). Of the e-verified ITRs, more than 2.69 crore ITRs for the 2024-2025 have been processed (43.34%) till July 31, 2024. Note that e-verification is the final step in filing your ITR. If you do not e-verify your ITR within 30 days of filing it, your ITR will stand invalid. The e-filing Helpdesk team has handled approximately 10.64 lakh queries from taxpayers during the year up to July 31, supporting the taxpayers proactively during the peak filing period. Taxpayers are also requested to verify their unverified ITRs if any, within 30 days of filing the ITR. Taxpayers are urged, who for any reason, missed filing their ITR within the due date, to complete their filing expeditiously.

51 lakh, or 7.5% more Indians filed income tax returns this year; 72% of taxpayers opted new regime, notes FinMin data

<ul class="summary-list"><li>Russia has dropped 103 bombs on its own territories in the past four months, Astra reports.</li><li>The outlet said three more FABs were found in Russian villages near the border.</li></ul>The Russian opposition media channel Astra reported on Wednesday that the Kremlin's forces deployed three Soviet glide bombs onto Russian-controlled regions this week.No injuries were reported, but Astra assessed that the new incidents meant Russia had dropped a total of 103 bombs on its own territories in the past four months.The independent outlet, which is vocally critical of Russia's invasion of Ukraine, wrote in a <a target="_blank" href="https://t.me/astrapress/57865?single">Telegram post</a> that one glide bomb was found on Monday in the village of Krapivnoye in Belgorod.Another was found in Dobroye village in Lipetsk that day, Astra reported, citing sources in the local emergency services. The third bomb was found on Tuesday in Tseplyaevo-Vtoroe, a village in Belgorod, Astra added.All three villages are in regions near Ukraine. It's unclear whether any of the munitions detonated.The Kremlin has admitted to accidental discharges before, including in April last year when a <a target="_blank" href="https://www.businessinsider.com/russian-warplane-bombs-russian-city-belgorod-by-mistake-2023-4">Su-34 bombed a residential area</a> in Belgorod and injured two women.As of Wednesday evening, Russian state media hasn't addressed this week's spate of bomb deployments reported by Astra.Astra's assessment came amid multiple reports of the <a target="_blank" href="https://www.businessinsider.com/russia-accidentally-bombs-own-people-highlights-inability-strike-intended-targets-2024-5">Kremlin's forces accidentally discharging munitions</a> for months over Russian or Russian-occupied territories.Belgorod, a region along Ukraine's border, is reported to have received the most self-inflicted strikes. One extreme example involves reports on May 4 that an <a target="_blank" href="https://t.me/astrapress/54788">FAB-500 had fallen into a civilian area</a>, damaging <a target="_blank" href="https://t.me/astrapress/54713">30 houses</a> and injuring seven people."Such errors have destructive and lethal consequences for the Russian population," the <a target="_blank" href="https://x.com/DefenceHQ/status/1789196323771588944">UK's Ministry of Defence</a> wrote in May of the self-bombings.The Ministry previously assessed that these incidents on Russian soil might point to <a target="_blank" href="https://www.businessinsider.com/russia-accidentally-bombing-russian-controlled-territories-poor-training-exhausted-troops-2024-1">fatigue from the Kremlin's air and ground crews</a> or a lack of training for frontline troops.<h2 id="4d1d6148-1dfe-48c5-8cc5-6d28aa30f1e7">A Russian analyst says cheap electronics may be to blame</h2>Ruslan Leviev, a Russian analyst who founded the independent open-source investigation organization Conflict Intelligence Team, proposed this week that the accidents might be caused by deficiencies in Russian munitions."One of our theories for these malfunctions is the shortage of components responsible for the bomb wings' activation," Leviev said in a <a target="_blank" href="https://www.youtube.com/watch?v=d3DATDMLGWU&amp;ab_channel=%D0%9C%D0%B0%D0%BA%D1%81%D0%B8%D0%BC%D0%9A%D0%B0%D1%86">Wednesday YouTube video</a> uploaded by the Russian political figure Maxim Katz.Leviev theorized that, unlike Western-made munitions, the UMPK kit used by Russia to convert unguided munitions into guided munitions was probably built for cheap with civilian electronics of lower standards than their military-grade counterparts.He added that other defects, such as poor workmanship or mechanical issues, could also be at fault."This problem persists since the UMPK was first used, but no one seems to be on it," Leviev said.Leviev estimated, however, that the percentage of faulty bombs was too small to significantly undermine the Russian munitions' effectiveness.The Russian ministry of defense's press department didn't immediately respond to a request for comment from Business Insider sent outside regular business hours.

Russia inexplicably dropped another 3 bombs on its own territory, bringing its total reported self-bombings to 103 this year, opposition media says

Total employment generated by nine select sectors stood at 3.10 crore in the July-September 2021 quarter, which is 2 lakh more than that of the April-June period, according to a quarterly employment survey by the <keyword id="126926" type="General" weightage="20" keywordseo="labour-ministry" source="Orion">labour ministry</keyword> released on Monday. The quarterly employment survey (QES) report released by Union Labour Minister <keyword id="1850634" type="General" weightage="20" keywordseo="bhupender-yadav" source="Orion">Bhupender Yadav</keyword> said that total employment numbers in the nine select sectors were 3.08 crore in April-June 2021. The rise shows improvement in economic activities after lifting of lockdown restrictions by states to curb the spread of deadly virus after the second wave of the COVID-19 pandemic hit the country in April 2021. These nine sectors are Manufacturing, Construction, Trade, Transport, Education, Health, Accommodation and Restaurant, IT/ BPO and <keyword id="6354241" type="General" weightage="20" keywordseo="financial-services" source="Orion">Financial Services</keyword>, accounting for a majority of the total employment in the non-farm establishments. This is the second report in the series. First report was for April-June 2021. The study covers establishment with 10 or more employees. Releasing the report, Yadav stated that these studies will aid government to achieve its mission of last-mile delivery and evidence-based policy making for workers. He expressed hope that <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> will soon be able to come out of the third wave of the pandemic. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-se-2022-launch-date-specifications-price-and-everything-we-know-so-far/articleshow/88803460.cms">Apple iPhone SE 2022 – launch date, specifications, price and everything we know so far</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-starts-third-dose-for-population-above-60-with-comorbidities/articleshow/88803159.cms">India starts precautionary dose for population above 60 with comorbidities — All you need to know</a>

Total employment in nine select sectors rises to 3.10 crore in July-September 2021, reveals Labour Ministry report

New Delhi: The decision of the <keyword id="20330004" type="General" weightage="100" keywordseo="Defence-Acquisition-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="Defence Acquisition Council" meta.hostid="261" meta.entityid="Defence Acquisition Council">Defence Acquisition Council</keyword> (DAC) to accept 10 <keyword id="22515789" type="General" weightage="20" keywordseo="capital-acquisition" source="keywords">capital acquisition</keyword> proposals worth Rs 1.4 trn will not only boost <keyword id="23034601" type="General" weightage="20" keywordseo="domestic-defence-manufacturing" source="keywords">domestic defence manufacturing</keyword> but will contribute to the growth of the <keyword id="20362868" type="General" weightage="20" keywordseo="PSU-companies" source="keywords">PSU companies</keyword> in the defence sector, highlighted a report by Antique Stock Broking. The report noted that the growth of domestic defence manufacturing in the country has picked up significantly over the last few years and is expected to grow further in the future. It added that the government's focus on enhancing domestic capabilities is evident from its initiatives in FY24, where Acceptance of Necessity (AoN) was accorded to proposals worth approximately Rs 3.61 trillion under various capital procurement categories. These initiatives are in line with the Defence Acquisition Procedure (DAP) 2020, which strongly promotes domestic manufacturing. "The government, in FY24, accorded Acceptance of Necessity (AoN) to proposals worth approximately INR 3.61 trn under various categories of capital procurement, which promotes domestic manufacturing as per DAP-2020" said the report. A significant milestone highlighted in the report is the remarkable increase in the share of domestic procurement in India's defence sector. The share has improved from 54 per cent in FY19 to 75 per cent in FY24. The report noted that this trend is expected to strengthen further, driven by the fact that more than 99 per cent of the announced proposals are to be sourced from the domestic industry under the "Buy (Indian)" and "Buy (Indigenously Designed, Developed, and Manufactured)" categories. "The total share of domestic procurement has seen a phenomenal improvement from 54% in FY19 to 75% in FY24 and is expected to improve further. The report stated that the DAC's (Defence Acquisition Council) approval of proposals worth Rs 1.45 trillion is aimed at enhancing the operational capabilities of the Indian Armed Forces. The report further emphasizes that with Rs 1.45 trillion worth of projects already approved in the year-to-date FY25, the <keyword id="20994345" type="General" weightage="20" keywordseo="defence-PSUs" source="keywords">defence PSUs</keyword> are poised for strong growth in the near to long term. "With approval for Rs 1.45 trn worth of projects in YTDFY25, we believe defence PSUs have strong growth opportunities in the near to long term" the report added. The Defence Acquisition Council (DAC), under the chairmanship of Defence Minister Rajnath Singh on Tuesday accorded Acceptance of Necessity (AoN) for 10 capital acquisition proposals amounting to Rs 1,44,716 crore. Of the total cost of AoNs, 99 per cent is from Indigenous sources under the Buy (Indian) and Buy (Indian-Indigenously Designed Developed and Manufactured) categories, the Ministry of Defence stated. For the modernisation of the tank fleet of the Indian Army, the proposal for procurement of Future Ready Combat Vehicles (FRCVs) has been cleared. The FRCV will be a futuristic Main Battle Tank with superior mobility, all-terrain ability, multilayered protections, precision and lethal fires over and real-time situational awareness, the release stated. The AoN was also accorded for procurement of Air Defence Fire Control Radars, which will detect and track aerial targets and provide firing solutions. The proposal has also been approved for Forward Repair Team (Tracked) which has suitable cross-country mobility for carrying out in-situ repair during mechanised operations.

You Searched For "labour ministry report total" and got 7 results

Lithuania is the world's happiest place for under 30s, but it's also Europe's suicide capital

Joshua Nelken-Zitser

Majority of users say they will stop using UPI if transaction fee is levied, notes a LocalCircles survey

PTI

India's cement industry expected to grow to 5.09 billion tonnes by 2028-29 amid infrastructure push: Report

BI India Bureau

51 lakh, or 7.5% more Indians filed income tax returns this year; 72% of taxpayers opted new regime, notes FinMin data

ANI

Russia inexplicably dropped another 3 bombs on its own territory, bringing its total reported self-bombings to 103 this year, opposition media says

Matthew Loh

Total employment in nine select sectors rises to 3.10 crore in July-September 2021, reveals Labour Ministry report

PTI

DAC capital acquisition of Rs 1.4 trn to boost defence PSUs: Report

ANI

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