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In her <keyword id="19906106" type="General" weightage="20" keywordseo="Interim-Budget" source="keywords">Interim Budget</keyword> speech in February 2024, <keyword id="20385790" type="General" weightage="20" keywordseo="Union-Finance-Minister" source="keywords">Union Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> celebrated what she termed as the Modi government's landmark achievement: unleashing 'nari shakti' or women's power through various initiatives since 2014. Among these, the creation of one crore 'Lakhpati Didis' — women whose annual household income exceeds one lakh rupees — under the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM), has garnered significant attention. <h2>The hype around it </h2>Imagine being a <keyword id="20416259" type="General" weightage="20" keywordseo="Lakhpati-Didi" source="keywords">Lakhpati Didi</keyword> — a rural woman whose annual household income exceeds Rs. 1 lakh. These women are not just financial achievers; they are community leaders who inspire others through their entrepreneurial journeys. Their success stories highlight the transformative impact of self-help groups (SHGs) and collective action in rural India. Launched amid much fanfare on August 15, 2023 by Prime Minister Narendra Modi himself, the 'Lakhpati Didi' scheme aims to empower women through diverse skill development programs, from producing LED bulbs to operating agricultural drones. Partnering with entities like Patanjali, Flipkart, and the Bill and Melinda Gates Foundation, the initiative also focuses on branding and marketing these products, ostensibly connecting women with credit lines and MUDRA loans for financial support. Almost an year on, the scheme is all set to get some well-deserved boost in the Budget 2024 to be presented on July 23. However, the time also apt to examine if it has actually contributed to <keyword id="20009191" type="General" weightage="20" keywordseo="women-empowerment" source="keywords">women empowerment</keyword> in the country. <div type="Article" hostid="261" msid="111915324" title="Finance Minister Nirmala Sitharaman to table Economic Survey in Parliament today" mstype="2" mssubtype="0"></div> <h2>The reality check </h2>Critics argue that such schemes may inadvertently tether women's SHGs to corporate networks, potentially benefiting transnational agribusiness giants aligned with the government. Programs like 'Namo Drone Didi', allocated Rs. 500 crore in the Interim Budget, exemplify this trend by integrating women into digital agriculture, albeit under the influence of corporate agendas. Further, while the Interim Budget championed the narrative of women's economic prosperity, it failed to adequately address their basic needs. Despite claims of empowerment, essential schemes such as PM Awas Yojana (Rural) and Har Ghar Jal have seen significant budgetary underspending, raising concerns about the government's commitment to women's welfare beyond mere rhetoric. For instance, the underutilisation of funds in Swachh Bharat Mission (Gramin) and the shrinking allocations for crucial subsidies like nutrition and education further highlight the disconnect between budgetary outlays and on-ground impact. This trend suggests a shift in responsibility towards state governments without commensurate support from the Union government, leaving vulnerable populations like widows and rural women at risk. Overall, the well-intentioned narrative around the scheme needs better translation and execution on ground to achieve desired outcomes. <h2>Looking ahead </h2>Until now, the budgetary allocation for women-centric programs have remained disproportionately low, with the Ministry of Women and Child Development having been allocated Rs 26,000 crore in 2024-25, an increase of 2.52% compared to the previous budget. This paltry investment underscores a broader pattern of neglecting systemic issues such as gender-based violence, social discrimination and pro-corporate stance. As Budget 2024 approaches, stakeholders eagerly anticipate policies that not only boost economic growth but also empower rural women as entrepreneurs and leaders. While Lakhpati Didi stands poised to empower rural women with opportunities and support, more steps are needed to make it more sustainable. <div type="Article" hostid="261" msid="111689743" title="Union Budget 2024: A handy FAQ guide to decode the upcoming budget" mstype="2" mssubtype="0"></div>

Budget 2024: Can Lakhpati Didi Yojana’s reality inspire better focus on women?

Jalgaon: Prime Minister <keyword id="19895781" type="General" weightage="100" keywordseo="Narendra-Modi" source="keywords">Narendra Modi</keyword> on Sunday said his government is strengthening laws to provide for stringent punishment for <keyword id="20177429" type="General" weightage="20" keywordseo="crimes-against-women" source="keywords">crimes against women</keyword>. Addressing a <keyword id="20416259" type="General" weightage="20" keywordseo="Lakhpati-Didi" source="keywords">Lakhpati Didi</keyword> rally at Jalgaon in north Maharashtra, <keyword id="19899684" type="General" weightage="20" keywordseo="modi" source="keywords">Modi</keyword> also said his government has done more for women in the last 10 years than was done by all the previous regimes since Independence. "Till 2014, less than Rs 25,000 crore loans were given to women self-help groups but in the last 10 years, Rs 9 lakh crore help was given," the PM said. Modi, who interacted with Lakhpati Didis at Jalgaon, released the Rs 2,500 crore revolving fund benefiting 48 lakh members of 4.3 lakh self-help groups. The Lakhpati Didi scheme is not only about boosting the income of women, but also about empowering future generations, Modi said and added, "You must have heard that India is going to become the third-largest economy in the world. Women play a huge role in it. However, it wasn't the case a couple of years ago." "Women guarantee the prosperity of every home and every family. However, there was no one to guarantee help for the women," he said and added that women didn't have property in their name, and if they had to take a loan from a bank, they could not avail it. In such a situation, they were not able to build their own small business. "Therefore, I, your son and brother, resolved to ease your lives. We took decisions in the interest of women year after year," Modi said. "When I visited you during the Lok Sabha elections, I promised we would make 3 crore sisters Lakhpati Didi. This means women who work in Self Help Groups, and their annual income is more than one lakh rupees," he added. In the last 10 years, one crore Lakhpati Didis were made, and in just two months 11 lakh more Lakhpati Didi were added to one crore, he said. PM Modi also said Maharashtra needs the BJP-led Mahayuti government to continue for years to come to ensure the state's stability and prosperity. "Maharashtra is the shining star of a developed India. The future of the state lies in more investment and job growth," he said.

Strengthening laws to ensure stringent punishment for crimes against women: PM Narendra Modi

The Narendra Modi government on Thursday increased the <keyword id="151047" type="General" weightage="100" keywordseo="rural-development-ministry" source="Orion">rural development ministry</keyword>'s budget to Rs 1.77 lakh crore for 2024-25 from last year's Rs 1.57 lakh crore, an increase of around 12%. However, when compared to the revised estimates, a mid-year review of expenditure done by the ministry that stood at Rs 1.71 lakh crore, the increase is 3%. In the interim budget presented in Parliament by Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword>, the allocation for the flagship Mahatma Gandhi National Rural Employment Guarantee Scheme for 2024-25 was Rs 86,000 crore, around 43% more than Rs 60,000 crore made in the last budget. However, the revised estimate shows the expenditure on the scheme in the last financial year was Rs 86,000 crore, same as the allocation made for the coming fiscal. In 2022-23, the government had allocated Rs 73,000 crore for the scheme, while the actual expenditure, according to that year's budget document, was Rs 90,805 crore. In 2021-22, Rs 73,000 crore was allocated to the scheme under the rural development ministry, while Rs 98,467.85 crore was the actual expenditure. In 2020-21, Rs 1.11 lakh crore was spent on the scheme, according to budget documents. The scheme provides guaranteed 100 days of wage employment in a financial year to at least one member of every household whose adult members volunteer to do unskilled manual work. It also earmarks at least one-third of jobs for women. In her pre-election budget, Finance Minister Sitharaman also announced that another two crore houses will be constructed under the Pradhan Mantri Awas Yojana-Gramin in the next five years. The allocation for the scheme was Rs 54,500 crore in the budget presented. In 2023-24, Rs 54,487 crore was provided for the PMAY(G). However, the revised estimate stands at Rs 32,000 crore, around 41% of the allocated amount. Sitharaman also announced that the target for creating '<keyword id="20414665" type="General" weightage="20" keywordseo="lakhpati-didis" source="keywords">Lakhpati Didis</keyword>' has been increased from two crores to three crores. Under the 'Lakhpati Didi' initiative, which comes under DAY-NRLM, each self-help group (SHG) household is encouraged to take up multiple livelihood activities coupled with value chain interventions, resulting in a sustainable income of Rs 1 lakh or more per year. The allocation for the National Livelihood Mission-Ajeevika was Rs 15,047 crore, around six% more than last year's Rs 14,129.17 crore. The revised estimate for the scheme also stands at Rs 14,129.17 crore. The allocation for the Pradhan Mantri Gram Sadak Yojna has come down. The allocation in this budget for 2024-25 was Rs 12,000 crore against Rs 19,000 crore last time. The expenditure according to the revised estimate was Rs 17,000 crore.

Budget allocation for rural development ministry up by 12%

<ul><li>While <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> wrapped its marquee Prime Day sale last week (August 6-7), <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> also wrapped up its Independence Day sale (August 6-10).</li><li>Flipkart today announced that 8,000 newly onboarded sellers participated in the sale event, with over 450 of them becoming ‘lakhpatis’ over these five days. </li><li> Amazon, which had concluded its sale within two days, had earlier said that the sale had helped 209 sellers become ‘crorepatis’. </li></ul>India’s two leading e-commerce companies Walmart owned Flipkart and Amazon have both recently concluded their big sale events after lockdown. While Amazon wrapped its marquee Prime Day sale (August 6-7), Flipkart also finished its Independence Day sale (August 6-10). And it seems that e-commerce is brightening up things for India’s small sellers. Interestingly, both Amazon and Flipkart who have been going after India’s small businesses have said that sellers on their platforms have been raking in the moolah, thanks to their big sales. Flipkart today announced that 8,000 newly onboarded sellers participated in the sale event, with over 450 of them becoming ‘lakhpatis’ over these five days. The e-commerce company said that during the sale, Flipkart marketplace platform saw a 54% jump in transacting sellers as compared to the same period last year. “The Independence Day Sale event saw participation from sellers primarily from Tier 2 cities and beyond; that have now become local businesses with strong growth pipelines,” said the company. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flipkart’s top selling categories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amazon’s top selling categories </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grooming, household items, books and media, food and nutrition, toys, makeup and fragrances, women ethnic contemporary wear, personal healthcare, home furnishing and mobile protection. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Personal Computing, Large Appliances, Kitchen, Smartphones, Health and Personal care, Apparel (Summer wear and lounge wear) and Pantry categories </td></tr></tbody></table>Source: Amazon and Flipkart media statements Meanwhile, Amazon, which had concluded its sale within two days, had earlier said that the sale had helped 209 sellers become crorepatis. “31,000 SMB (small and medium business) sellers witnessed their highest sales ever with over 4000 SMB sellers each registering sales of ₹10 lakh or more, and 209 SMB sellers becoming crorepatis during the 48 hours,” said the company in a statement. Amazon also said that a total of over 91,000 SMBs, artisans, weavers and women entrepreneurs from over 5,900 pin codes participated in Prime Day 2020. “We are humbled that we were able to help as this was our biggest Prime Day ever for small businesses – nearly 1 Lakh SMB sellers (70% from small towns) received orders from across 97% of India’s pin-codes; Karigar artisans, Saheli women sellers, Launchpad entrepreneurs, and Local Shops enjoyed their highest ever day of sales,” Amit Agarwal, SVP and country manager, <keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword> said in a statement. Both Flipkart and Amazon also said that the ‘new cities’ on their radar beyond the top metro cities too contributed in a big way to their sales. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/oyo-announces-a-weekend-curfew-with-no-calls-and-slack-messages-and-surprise-holidays-for-its-employees/articleshow/77543069.cms">EXCLUSIVE: OYO’s new employee initiatives — weekend curfew with no calls or Slack messages, a surprise holiday, and discounted Curefit membership</a> <a href="https://www.businessinsider.in/business/startups/news/face-recognition-at-the-gates-and-guard-talkies-how-nobroker-is-helping-societies-stay-safe-during-covid19/articleshow/77541461.cms">From face recognition at the gates to ‘guard-talkies’ – how this startup is helping societies ensure safety during COVID-19 pandemic</a>

Flipkart and Amazon claim they created ‘lakhpatis’ and ‘crorepatis’ out of their sellers with their sale events

<ul><li>Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> on Thursday presented the Interim Budget 2024-25.</li><li>This budget outlines expenditures and revenues till the formation of the next government.</li><li>Here are the top highlights and major announcements of the Interim Budget 2024-25.</li></ul> Finance Minister Nirmala Sitharaman while presenting the Interim Budget 2024-25 at <keyword id="19895397" type="General" weightage="20" keywordseo="parliament" source="keywords">Parliament</keyword> on Thursday, February 1 announced that the FY25 capex outlay has been increased by 11.1% to ₹11.11 lakh crore. The FY25 capex outlay is now at 3.4% of the GDP. Fiscal deficit, the gap between the government’s revenue and expenses, is expected to be 5.8% of gross domestic product, said the FM. “The gross market borrowing for the financial year ending March 2025 will be ₹14.3 lakh crore (less than the borrowing in the current financial year).” The FM began her speech by giving a summation of the Narendra Modi government's performance in the past ten years. "The Indian economy has witnessed positive transformation in the last 10 years. Our development steps have covered all elements of inclusivity," she said. This is the final budget of the second term of the Narendra Modi government before the country heads to elections later this summer. Sitharaman stressed on the government's aim to make India developed -- Viksit Bharat – by 2047. The government has tried to provide inclusive development and growth, both socially and geographically, she said in the opening minutes of her sixth budget speech as the country’s finance minister. It is to be noted that this Vote on Account or an Interim Budget is only for the next three months as the next government after the election will come out with a comprehensive budget for the financial year 2024-25 later. In other words, this budget outlines expenditures and revenues till the formation of the next government. Key announcements by Finance Minister Nirmala Sitharaman: <ol><li>No relief for taxpayers: Same tax slabs to continue, says FM. “I propose to retain the same tax rates for direct and indirect taxes.”</li><li>FY25 divestment target at ₹50,000 crore. The FY24 target has been curbed to ₹30,000 crore</li><li>Gross market borrowing for FY ending March 2025 will be ₹14.3 lakh crore.</li><li>FY25 capex outlay increased by 11.1% to ₹11.11 lakh crore. The FY25 capex outlay is now at 3.4% of GDP.</li><li>The revised estimate of the fiscal deficit is 5.8% of GDP. The FY25 fiscal deficit target is set at 5.1%.</li><li>The FY25 revenue deficit is set at 2% versus FY24 revised estimate of 2.8%</li><li>The FDI during 2014 to 2023 was $596 billion. India is negotiating bilateral treaties with foreign partners. FM adds that FDI is now “First Develop India”.</li><li>Three major economic railway corridors announced to boost GDP. This includes an energy mineral and cement corridor, port connectivity corridor and high traffic density corridor.</li><li>40,000 rail bogies to be converted to Vande Bharat standards. Airports have doubled to 149 in the last decade.</li><li>Boost for tourism: Projects for enhancing tourism revenue will be taken up, especially for islands, including Lakshawdeep.</li><li>FM says the government has assisted 25 crore people to escape from multidimensional poverty.</li><li>Free ration: Worries of food have been alleviated as 80 crore people are provided with ration.</li><li>Direct benefit of ₹34 lakh crore via Jan Dhan has led to savings of ₹2.7 lakh crore for the government.</li><li>The PM PM SVANidhi scheme has supported over 78 lakh vendors. Out of this, 2.3 lakh vendors have received loans more than two times.</li><li>11.8 crore farmers have been assisted under the PM Kisan Yojna.</li><li>₹30 crore Mudra loans have been given to women entrepreneurs in the last ten years.</li><li>Average real income of people has risen by 50%.</li><li>India-Middle East-Europe Economic corridor is a game changer for India and others.</li><li>Artisanal support: PM Vishwakarma Yojana provides end-to-end support to artisans and crafts people engaged in 18 trades.</li><li>GDP new definition: FM Sitharaman has said that the government is focussed on GDP (governance, development and performance)</li><li>Real estate boost: Government close to achieving the target of three crore houses under the PM Awas Yojana Grameen. Additional two crore houses to be built in five years.</li><li>Sustainability &amp; free electricity: Rooftop solarisation scheme announced to help one crore houses, enabling free electricity and selling of surplus energy. First three hundred units for solar homes.</li><li>Nari Shakti: FM says that female enrolment in higher education is up by 28% in 10 years in STEM courses. Free healthcare under Ayushman Bharat to be extended to Asha workers and Anganwadi workers.</li><li>Target for Lakhpati Didi scheme enhanced from 2 crore to 3 crore.</li></ol>

Interim Budget 2024: FY25 capex hiked 11%; no change in tax slab, says FM Sitharaman

<ul><li><keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s first social commerce platform has turned 1.23 lakh small business owners into lakhpatis. </li><li><keyword id="3480589" type="General" weightage="100" keywordseo="meesho" source="Orion">Meesho</keyword> has overtaken <keyword id="18635" type="General" weightage="50" keywordseo="amazon" source="Orion">Amazon</keyword> and <keyword id="6354742" type="General" weightage="50" keywordseo="flipkart" source="Orion">Flipkart</keyword> in terms of user penetration in tier 2 to tier 4 cities of India. </li><li>Compressed app size, explainer videos on doing business, monthly visits to households of small businessmen is how Meesho is capturing India’s rural heartland. </li></ul>At 13 years of age, <keyword id="15066970" type="General" weightage="50" keywordseo="divyanjali-mishra" source="Orion">Divyanjali Mishra</keyword> is a year short of the legal age to work in India but the entrepreneurial bug bit this teen after she saw her brother-in-law become successful online. She too followed the same path to make and sell t-shirts, wallets and belts on Meesho – an enterprise that made her a <keyword id="23267" type="General" weightage="20" keywordseo="crorepati" source="Orion">crorepati</keyword> before she turned 18. Her businesses HK Traders and Parthasarathi Enterprises have an annual turnover of ₹24 crore, processing 3,000-4,000 orders per day that she receives from Meesho. Her business now employs over 30 women – all under the age of 23 and coming from economically weaker backgrounds. <div type="image" title="Divyanjali Mishra" msid="94399483" hostid="261" sizebytes="34420"></div> Light and fast Social commerce app Meesho has given wings to many such young, restless, ambitious and talented entrepreneurs across the country – at least 8,000 sellers on Meesho have turned crorepatis since January 2021. As many as 1.23 lakh small business owners have turned into lakhpatis on Meesho. With over 127 million users in August 2022 alone, what is driving this unicorn's customer and seller growth? One trait that’s common between Meesho and its sellers is speed. "Our vision is to democratise internet e-commerce. When the cost of trying out a business online is massively reduced and onboarding happens within 12 hours, more sellers come onboard," said <keyword id="1893518" type="General" weightage="50" keywordseo="megha-agarwal" source="Orion">Megha Agarwal</keyword>, CXO, user growth at Meesho, in an interview with Business Insider India. It also has features unique to small businesses and new enterprises – like the 7-day payment feature. When these sellers are paid faster, they can re-invest faster and hence chase growth. It also helps cover some risks with the ‘Zero penalty’ feature, where sellers are not penalised for self or auto cancellation of orders, Meesho said. Meesho's app is also the lightest e-commerce app in India at 13.6 MB. Flipkart’s app takes up 18 MB of space while Amazon requires 59 MB. "Our customers are mostly from tier 2, tier 3 and tier 4 cities of India. We are aware that customers don't always have smartphones with high data storage. Thus we made our app very light. To make the process of onboarding easier, we are now providing the app in nine vernacular languages," said Agarwal. Meesho, which is backed by Facebook and SoftBank, currently has 360 million downloads – 175 million of these in the last year alone. How does Meesho churn out entrepreneurs from rural India? The social e-commerce team at Meesho conducts monthly travel sessions with the team to the hometowns of their businessmen and businesswomen. It also provides monetary initial boost to sellers who are coming onboard for the first time. “Additionally, we provide free ad credits worth ₹1,200 to all new suppliers who create 7 live catalogues milestones within the first two weeks of their journey,” said Meesho. To promote ease of doing business, the unicorn has created two activation teams dedicated to understanding how to make it easy for sellers who are uneducated. "To improve comprehension and reduce friction, we have created two activation teams from both the seller and user side. Over 20 plus videos exist to educate about sales online. Even the stories we pick to celebrate are meant to be encouraging for small business owners, making us friendly and approachable, " said Agarwal. Over 35% of the seller base from tier 4 regions The social e-commerce app is trying to reach the rural heartland of India. Over 35% of the Meesho seller base hailed from tier 4 regions. In June 2022 alone, there were 23,000 seller registrations – the highest ever from tier 4 cities. Mandi in Himachal Pradesh; Muzaffarnagar and Unnao in Uttar Pradesh; Buhana, Paota, and Kaman in Rajasthan are popular tier 4 business spots for Meesho. Nearly 41% of all Meesho sellers hail from tier 2+ regions such as Hisar, Panipat and Tiruppur, among others. According to a Bernstein report 2022, the sweet spot for e-commerce growth in India is from tier 2 and tier 3 cities. Meesho is outperforming Amazon and Flipkart when it comes to these cities, it reported. In spite of having 700,000 sellers on its platform, Amazon is yet to gain ground in a very important category in India — tier 2 and tier 3 markets. One of India's fastest e-commerce companies, Meesho is looking forward to expanding its portfolio to 100 million sellers with the upcoming festivities. The <keyword id="15066971" type="General" weightage="20" keywordseo="meesho-blockbuster-sale" source="Orion">Meesho blockbuster sale</keyword> beginning from 23rd September will offer products at prices that are 15% lower than that offered by the big e-commerce platforms, claims the company. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/doodlage-and-ecokaari-startups-are-converting-waste-into-bags-and-clothes/articleshow/94388327.cms">Fashion forward: These startups are converting waste into bags and clothes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/most-indians-to-spend-more-than-10000-on-shopping-in-the-upcoming-festive-season-says-report/articleshow/94389278.cms">Most Indians to spend more than ₹10,000 on shopping in the upcoming festive season, says report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/whatsapp-pay-india-head-mahatme-quits-likely-to-return-to-amazon-pay/articleshow/94378345.cms">WhatsApp Pay India head Mahatme quits, likely to return to Amazon Pay</a>

Online e-commerce player Meesho is the new crorepati factory

<keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> on Wednesday said that it delivered 1 crore shipments in the first five days of its <keyword id="2546729" type="PERSON" weightage="20" keywordseo="Big-Billion-Day-sale">Big Billion Day sale</keyword> which is a massive 10 times growth compared to the last BBD when only 10 lakh deliveries were made by the ecommerce marketplace in the same period. The platform witnessed 110 orders placements per second and the momentum was across mobiles, fashion, electronics, BGMH (books, general merchandise and home) and home furnishing categories. In a cheer for MSMEs, over 66.6 crore visits were recorded during the Big Billion Days, with over 52 per cent of these visits coming from tier III cities and beyond. Out of 1 crore deliveries, more than 3.5 million deliveries were done through Kirana partners in the first five days of TBBD, the company announced. "The revival in demand and resurgence of consumption is expected to remain even after TBBD, as we continue to uplift the entire ecosystem," said Nandita Sinha, Vice President - Customer Growth &amp; Engagement, Flipkart. This year, the Flipkart BBD saw 1.5 times the number of transacting sellers compared to last year, among whom, more than 35 per cent witnessed 3 times more sales in comparison to last year. The number of crorepati sellers went up 1.5 times and the number of lakhpati sellers saw a 1.7 times jump. In the mobile category, the platform recorded two times growth in customers. The premium segment of smartphones saw a growth of 3.2 times, predominantly driven by Apple, Google and Samsung phones. The tier III customers drove the sale of large appliances with nearly 50 per cent demand coming from the region for this category, the company said.

Flipkart Big Billion sale report - over 100 orders per second, 10 million products delivered already

Germany's competition watchdog has begun a fresh investigation into whether the ecommerce giant Amazon is abusing its dominant market position in the country. In an interview with the German media outlet Frankfurter Allgemeine Zeitung (FAZ), the President of the Federal Cartel Office, Andreas Mundt, said the country is probing Amazon's relationship with the third-party sellers on its website. "Amazon must not be a price controller. We are investigating whether and how Amazon influences how traders set prices on the marketplace," Mundt was quoted as saying. Amazon was yet to react to the report. "Price fixing is not tolerated even in the (coronavirus) crisis," Mundt said. Amazon is also facing a similar antitrust probe in the European Union (EU). The European Commission announced the antitrust investigation to assess whether Amazon's use of sensitive data from independent retailers who sell on its marketplace is in breach of EU competition rules. Testifying before a US panel last month, Amazon Founder and CEO Jeff Bezos said that he cannot guarantee the company employees have not accessed third party seller data. His response came during an antitrust hearing by a US Congress panel amid criticism that the workers of the online retail giant look into data of independent sellers on its platform to curate its own competing products. Amazon said it does not access sales data from independent sellers to help develop its own products. For years, Amazon has been dogged by allegations that it uses its dominance to identify and enter into new product categories using its unique lens into inside information on third party seller data. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/the-heat-is-on-mark-zuckerberg-in-india-as-facebook-and-whatsapp-incur-the-ire-of-modis-rivals/articleshow/77575358.cms">The heat is on Mark Zuckerberg in India as Facebook and WhatsApp incur the ire of Modi's rivals</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-amazon-claim-they-created-lakhpatis-and-crorepatis-out-of-their-sellers-with-their-sale-events/articleshow/77545128.cms">Flipkart and Amazon claim they created ‘lakhpatis’ and ‘crorepatis’ out of their sellers with their sale events</a> <a href="https://www.businessinsider.in/tech/news/facebook-is-reportedly-expanding-its-banking-ambitions-with-a-new-division-that-will-run-all-of-the-tech-giants-payment-projects-including-facebook-pay/articleshow/77468860.cms">Facebook is reportedly expanding its banking ambitions with a new division that will run all of the tech giant's payment projects, including Facebook Pay</a>

You Searched For "lakhpati" and got 8 results

Budget 2024: Can Lakhpati Didi Yojana’s reality inspire better focus on women?

Ashmita Gupta

Strengthening laws to ensure stringent punishment for crimes against women: PM Narendra Modi

PTI

Budget allocation for rural development ministry up by 12%

PTI

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