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A <keyword id="19895037" type="General" weightage="20" keywordseo="Bengaluru" source="keywords">Bengaluru</keyword> based <keyword id="19910096" type="General" weightage="20" keywordseo="woman" source="keywords">woman</keyword> has been awarded a <keyword id="19896798" type="General" weightage="20" keywordseo="compensation" source="keywords">compensation</keyword> of Rs five lakh by a <keyword id="20546234" type="General" weightage="20" keywordseo="consumer-forum" source="keywords">consumer forum</keyword>, nearly 20 years after a 3.2 centimetre <keyword id="22504968" type="General" weightage="100" keywordseo="surgical-needle" source="keywords">surgical needle</keyword> was left in her body following her surgery at a private <keyword id="19915254" type="General" weightage="20" keywordseo="hospital" source="keywords">hospital</keyword> here. The Karnataka State Consumer Disputes Redressal Commission has directed the hospital and two <keyword id="20000183" type="General" weightage="20" keywordseo="doctors" source="keywords">doctors</keyword> to pay Padmavathi, a resident of Jayanagar, Rs 50,000 as litigation expenses. It has also directed <keyword id="22497673" type="General" weightage="20" keywordseo="New-India-Assurance-Co-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="New India Assurance Co Ltd" meta.hostid="261" meta.entityid="New India Assurance Co Ltd">New India Assurance Co Ltd</keyword>, which had issued a policy covering the hospital expenses, to pay her Rs five lakh for "the professional and <keyword id="21130249" type="General" weightage="20" keywordseo="medical-negligence" source="keywords">medical negligence</keyword> caused." The then 32-year-old woman underwent the surgery on September 29, 2004 at the <keyword id="22497672" type="General" weightage="20" keywordseo="Deepak-Hospital" source="keywords" meta.keywordsubtype="org" meta.entityname="Deepak Hospital" meta.hostid="261" meta.entityid="Deepak Hospital">Deepak Hospital</keyword>, with the two doctors allegedly performing the hernia operation. On completion of the surgery, her appendix was also removed, according to the Commission's order last month. Immediately, on the next day, she complained of severe pain for which she was prescribed some pain killers and assured that it is post surgery discomfort and that it will get cured. She suffered acute stomach and back pain for several years and was also admitted in the same hospital twice later, the order noted. Padmavathi later approached another private hospital here in 2010 and during a scan, it was noticed that some foreign body existed in the abdominal and back portion of her body and it was suggested to her to get it (surgical needle) removed. She then underwent surgery and the 3.2 cm surgical needle was removed following which she approached the consumer forum with a complaint the following year. The forum noted that the complainant was aged about 32 years, when she underwent all these surgeries and removal of the surgical needle. "Definitely she suffered severe pain and inconvenience till removal of the surgical needle," the order stated. Hence, she is entitled to get "global compensation" of Rs five lakh and the insurance company (New India Assurance Company Limited) is directed to pay the amount while the two doctors are liable to pay litigation expenses of Rs 50,000 to the complainant, it further added.

Woman to get Rs 5 lakh compensation, 20 years after needle left in her body after surgery

<keyword id="20079495" type="General" weightage="100" keywordseo="HDFC-Life" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Life" meta.hostid="261" meta.entityid="HDFC Life">HDFC Life</keyword> released its Q1FY25 results today, witnessing a 31% year-on-year (YoY) growth in <keyword id="22418232" type="General" weightage="20" keywordseo="individual-APE" source="keywords">individual APE</keyword> (Annualized Premium Equivalent), while the total assets managed by the insurer crossed Rs 3 lakh crore. Notably, APE is a common indicator of sales undertaken in the life insurance industry and is the sum of regular annualized premiums from new businesses, along with 10% of the first single premium received within a specific period. The company's <keyword id="20019621" type="General" weightage="20" keywordseo="AUM" source="keywords">AUM</keyword> (asset under management) saw a 22% <keyword id="21782807" type="General" weightage="20" keywordseo="YoY-growth" source="keywords">YoY growth</keyword>, jumping from Rs 2,53,301 crore in Q1FY24 to Rs 3,10,244 crore in Q1FY25. HDFC Life also saw a 15% YoY increase in its <keyword id="20298212" type="General" weightage="20" keywordseo="profit-after-tax" source="keywords">profit after tax</keyword> (PAT), inching up from Rs 415 crore in Q1FY24 to Rs 478 crore during April-June 2025. The <keyword id="21440628" type="General" weightage="20" keywordseo="value-of-new-business" source="keywords">value of new business</keyword> (VNB), which is calculated as the present value of the future profits that the firm is expected to earn in the future, thanks to the business that the company earns during the current year, also grew 18% from Rs 6.1 billion in Q1FY24 to Rs 7.2 billion in Q1FY25. The insurer also declared a staggering bonus of Rs 3,722 crore to more than 22 lakh of its shareholders. As per its report, the company covered around 13.9 million lives in Q1 FY25 The company also managed to retain its number 1 ranking in the industry, in terms of overall <keyword id="22418233" type="General" weightage="20" keywordseo="sum-assured" source="keywords">sum assured</keyword>. In Q1FY25, the company's overall sum assured stood at Rs 3,365 billion, up from Rs 3,340 billion in Q1FY24. <h2>Increasing need for life insurance and retirement planning </h2>The scope of insurance penetration in India remains immense, given that India's insurable population is set to burgeon to around 1 billion by 2035, and at 85%, India's sum assured (SA) as a % of its GDP remains the lowest amongst its peers, which include Singapore (332%), Thailand (143%), US (251%). Moreover, India's retirement savings gap is only set to grow annually at 10% to touch $96 trillion by 2050. At 3% of the GDP, India's pension market remains largely under penetrated, as compared to 98.3% of GDP in <keyword id="19916592" type="General" weightage="20" keywordseo="usa" source="keywords">USA</keyword> and 146.2% of the GDP in Australia.

HDFC Life Q1 results: Profit after tax surges to Rs 478 crore, AUM crosses Rs 3 lakh crore

<ul><li>The <keyword id="8194701" type="General" weightage="20" keywordseo="refurbished-smartphone" source="Orion">refurbished smartphone</keyword> market has recorded rapid growth in India.</li><li>While the unorganised sellers dominate the market, the organised sellers are also growing.</li><li>Affordability and shorter upgrade cycles are among the factors fueling the refurbished smartphone market.</li></ul> India's refurbished smartphone market is experiencing significant growth, outpacing the new smartphone sector. This reflects a maturing market which is increasingly catering to consumers looking for affordable yet reliable options. According to a report by Counterpoint Research, unorganised sellers dominate the refurbished smartphone market, accounting for 77% of transactions. The Indian refurbished smartphone sector has traditionally been dominated by unorganised players, offering devices at a fraction of the cost of the new models. However, the introduction of value-added services like warranties, quality assurance, and after-sales support by emerging e-commerce platforms is beginning to formalise this market, enhancing consumer trust and driving further growth. <h2>What’s fueling the refurbished smartphone market</h2><h3>Affordability</h3><keyword id="2698558" type="General" weightage="20" keywordseo="refurbished-smartphones" source="Orion">Refurbished smartphones</keyword> offer consumers access to higher-end hardware at lower costs, making premium technology more accessible to a broader audience. This aspect is particularly appealing in a price-sensitive market like India. <h3>Shorter upgrade cycles</h3>With technology evolving rapidly, many users prefer to upgrade their phones more frequently. Refurbished devices provide an avenue for this without the high cost associated with new purchases. <h3>Environmental impact</h3>There's a growing awareness of the environmental benefits of using refurbished products, which reduces electronic waste and the demand for new manufacturing, which is resource-intensive. <h3>Consumer confidence</h3>The entry of organised players who provide guarantees and quality checks on refurbished devices has significantly boosted consumer confidence. These services add a layer of reliability to what was once a market fraught with uncertainty about product condition and longevity. Despite the growth in the unorganised sector, there's a noticeable trend towards formalisation. E-commerce platforms specialising in refurbished goods are expanding, providing consumers with the convenience of online shopping backed by credible service commitments. The report also notes that this growth is not just contained within India. Globally, the refurbished smartphone market is on an upward trajectory, with similar trends observed in markets like Latin America, suggesting a broader international shift towards sustainable consumption in electronics. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/moto-g35-5g-with-120hz-5000mah-battery-launched-at-9999/articleshow/116172283.cms">Moto G35 5G with 120Hz display, 5,000mAh battery launched at ₹9,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-14-pro-and-redmi-note-14-pro-launched-in-india-starting-at-24999/articleshow/116134415.cms">Redmi Note 14 Pro and Redmi Note 14 Pro+ launched in India starting at ₹24,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x200-and-x200-pro-camera-centric-to-launch-in-india-on-december-12/articleshow/115930004.cms">Vivo X200 and X200 Pro camera-centric smartphones to launch in India on December 12</a>

India's refurbished smartphone market witnesses accelerated growth

Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> urged CEOs of US majors to take advantage of India's growth story as the country is making all efforts to become the third largest economy of the world in his third term. India is currently the fifth largest economy of the world after the US, China, Germany and Japan with a GDP of around USD 3.9 trillion. India has been the fastest growing large economies of the world with GDP growth rate of over 7 per cent for the last three consecutive years. Addressing CEOs of the large US tech firms on Sunday, Modi said India will make every effort to become the third largest economy in the world in his third term (2024-29). Companies should take advantage of India's growth story for collaboration and innovation by co-developing, co-designing, and co-producing in India for the world, harnessing the opportunities from the country's economic and technological growth, he said. Assuring the business leaders of India's deep commitment to the protection of intellectual property and to fostering tech innovation, Modi highlighted the economic transformation happening in the country, particularly in electronics and information technology manufacturing and semiconductors. Modi asserted that his government was committed to making India a "global hub of <keyword id="20073013" type="General" weightage="20" keywordseo="semiconductor-manufacturing" source="keywords">semiconductor manufacturing</keyword>". The meeting took place at the Lotte <keyword id="19904497" type="General" weightage="20" keywordseo="New-York" source="keywords">New York</keyword> Palace Hotel on Sunday during the second leg of Modi's three-day US visit. It saw the participation of CEOs of 15 major US-based firms working on cutting-edge technologies such as AI, quantum computing and semiconductors. "Had a fruitful roundtable with tech CEOs in New York, discussing aspects relating to technology, innovation and more. Also highlighted the strides made by India in this field. I am glad to see immense optimism towards India," Modi said in a post on X. During the conference, Modi said technology collaboration and efforts such as the Initiative on Critical and Emerging Technologies (ICET) lie at the core of the India-US Comprehensive Global Strategic Partnership, according to a Ministry of External Affairs press release. Organised by the Massachusetts Institute of Technology (MIT) School of Engineering, the CEOs of top US tech firms, including Google CEO Sundar Pichai, Adobe CEO Shantanu Narayena, Accenture CEO Julie Sweet and NVIDIA CEO Jensen Huang attended the meeting. Others who participated in the roundtable included AMD CEO Lisa Su, HP Inc. CEO Enrique Lores, IBM CEO Arvind Krishna, Dr Noubar Afeyan, Chairman of Moderna, and Verizon CEO Hans Vestberg. Modi also talked about India's BIO E3 (biotechnology for environment, economy and employment) policy to develop the country into a biotech powerhouse and on the topic of AI, noted that India's policy is to promote AI for all, underpinned by its ethical and responsible use. The CEOs appreciated India's growing prominence as a global technology hub, driven by its innovation-friendly policies and flourishing market opportunities. They also expressed strong interest in investing and collaborating with India, agreeing that investing in startups would be a synergistic opportunity to innovate and develop newer technologies in the country. Others who attended the conference included Biogen Inc CEO Chris Viehbacher, CEO of Bristol Myers Squibb, Chris Boerner, Eli Lilly and Company CEO David A. Ricks, LAM Research CEO Tim Archer, GlobalFoundries CEO Thomas Caulfield, and the CEO of Kyndryl, Martin Schroeter. "Further cementing technology and business connect. PM @narendramodi interacted with the top tech leaders and CEOs of USA, in a Roundtable hosted by the Massachusetts Institute of Technology School of Engineering, in New York today. PM emphasised India's growth prospects and discussed initiatives to foster collaborations and innovation across diverse sectors," the official account of the MEA said in a post on X. The prime minister had a separate meeting with Krishna P Singh, CEO of Holtec International, which is into nuclear and solar power generation. They discussed Holtec's plan for expanding manufacturing in India and advancing energy cooperation, PMO India said in a post on X. Earlier on Sunday, Modi addressed the <keyword id="20115166" type="General" weightage="20" keywordseo="Indian-diaspora" source="keywords">Indian diaspora</keyword> at the packed Nassau Veterans Coliseum on Long Island in New York. He also held bilateral meetings with world leaders at the sidelines of the UN General Assembly session here. Modi reached New York on Saturday after attending the Quad Leaders' Summit hosted by President Joe Biden in Wilmington, Delaware. <div type="Article" hostid="261" msid="113516805" title="Why is Indian Prime Minister Narendra Modi visiting the US this weekend?" mstype="2" mssubtype="0"></div>

PM Modi invites US CEOs to take a 'byte' out of India's growing technology sector

New Delhi, <keyword id="47209" type="General" weightage="20" keywordseo="finance-ministry" source="Orion">Finance Ministry</keyword> would consider capital infusion in three loss-making public sector general insurance companies based on their financial performance of nine months. The infusion if required would be made in the fourth quarter of the current financial year, sources said. According to sources, the finance ministry last year asked three insurers -- National Insurance Company Limited, <keyword id="94451" type="General" weightage="80" keywordseo="oriental-insurance-company-limited" source="Orion">Oriental Insurance Company Limited</keyword> and <keyword id="356117" type="General" weightage="80" keywordseo="united-india-insurance-company" source="Orion">United India Insurance Company</keyword> -- to chase bottomlines rather than topline and underwrite only good proposals. The financial review would give some idea about the impact of restructuring initiated on the profitability numbers and the solvency margin, sources said. The solvency margin is the extra capital the companies must hold over and above the claim amounts they are likely to incur. It acts as a financial backup in extreme situations, enabling the company to settle all claims. The government last year provided Rs 5,000 crore capital to three insurers -- National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company. Kolkata-based National Insurance Company Limited was given the highest, Rs 3,700 crore, followed by Delhi-based Oriental Insurance Company Limited (Rs 1,200 crore) and Chennai-based United India Insurance Company (Rs 100 crore). According to sources these companies have been asked to improve their solvency ratio and meet the regulatory requirement of 150 per cent. The solvency ratio is a measure of capital adequacy. A higher ratio reflects better financial health and the ability of the company to pay claims and meet future contingencies and business growth plans. Barring the solvency ratio of <keyword id="6369780" type="General" weightage="80" keywordseo="new-india-assurance" source="Orion">New India Assurance</keyword>, this key indicator of the three public sector general insurance companies stood below the regulatory requirement of 150 per cent. During 2019-20, the government infused Rs 2,500 crore in these three companies. It increased substantially to Rs 9,950 crore in the following year and Rs 5,000 crore in 2021-22. In all, the government infused Rs 17,450 crore into these insurance firms so far to improve their financial health. Public sector general insurance companies are undergoing various reforms, including organisational restructuring, product rationalisation, cost rationalisation and digitalisation. For efficient use of capital and to push profitable growth, the sources said, a set of key performance indicators linked reforms have been initiated by all public sector general insurance companies effective 2020-21, when the maximum capital infusion was made. Of the four state-run general insurance companies only New India Assurance Company is listed on the stock exchanges, the remaining three are wholly owned by the government. The government has already announced its intention to privatise one general insurance company. To facilitate privatisation, Parliament has already approved amendments to the General Insurance Business (Nationalisation) Act (GIBNA). Finance Minister <keyword id="129243" type="General" weightage="80" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> in the Budget 2021-22 announced a big-ticket privatisation agenda, which included two public sector banks and one general insurance company. "We propose to take up the privatisation of two public sector Banks and one general insurance company in the year 2021-22. This would require legislative amendments," she had said.

Govt may infuse capital in PSU general insurers in Q4 based on performance

<ul class="summary-list"><li>Avi Singh and Rishi Rajpal left their stable jobs to open a New York City cocktail bar in 2019.</li><li>They hired David Muhs as their head bartender.</li></ul>This as-told-to essay is based on a conversation with Avi Singh, 30, and Rishi Rajpal, 34, the co-owners of Sama Street, and David Muhs, 40, the head bartender at Sama Street. All three also own and operate another New York City cocktail bar, Monkey Thief.This conversation has been lightly edited for length and clarity.Avi: Rishi and I go way back. We grew up together in <a target="_blank" class="" href="https://www.businessinsider.com/visit-india-2016-3">New Delhi, India</a>. Our parents were friends.Fast forward to 2016, Rishi was living with my brother in New York City, and we reconnected.Rishi: After I graduated college, I worked in event management. Two years later, I pivoted and started working for a tech startup where I was leading <a target="_blank" class="" href="https://www.businessinsider.com/how-to-double-dip-work-two-jobs-2023-9">quality assurance.</a>I liked the creative aspect of getting to work with different companies. But my <a target="_blank" class="" href="https://www.businessinsider.com/tech-worker-left-job-opened-natural-wine-bar-brooklyn-2024-11">work was very monotonous</a>. It got boring. And I didn't like being behind a desk for 10 to 13 hours a day.Avi: I went to college at Emory in Atlanta. My peers were entering one of three fields: finance, marketing, or consulting. The thing that intrigued me most was consulting because of its <a target="_blank" class="" href="https://www.businessinsider.com/how-to-get-hired-top-consulting-firms-bcg-mckinsey-pwc-2024-7">problem-solving nature. </a>I took a job at a consulting firm that would allow me to move to New York City. Reality hit pretty quickly with regard to what you actually do as a business analyst at a consulting firm. It was 80 hours a week sitting on Excel and PowerPoint, building models, and putting together decks. I didn't feel like I got to see any of my work being implemented. I had a hunger to <a target="_blank" class="" href="https://www.businessinsider.com/six-figure-consulting-job-not-fulfilling-quit-start-business-2024-11">make more of an impact.</a>Rishi: When I reconnected with Avi, we were both in a position where we didn't know what we wanted to do with our lives. We didn't like where we were at. We didn't want to go through life like that, so we started talking about what would happen if we followed our dreams.<h2 id="891d925d-e92d-4743-9282-ab8459339509">We wanted to go into food and beverage</h2>Avi: Growing up in India, food was a big part of our social and familial interactions. That's where the love started.We knew how <a target="_blank" class="" href="https://www.businessinsider.com/restaurants-america-eating-out-crisis-your-fault-labor-shortage-tipping-2024-2">difficult the industry</a> was, but we were still fairly young, so we just said let's give it a shot. In the worst-case scenario, we can always come back to our desk jobs.Rishi: I started working as a dishwasher, busser, server, and then manager at an Indian restaurant to gain experience while we came up with our concept.Avi: It was definitely a risky move. Coming from Asian households, we were guided toward a more <a target="_blank" class="" href="https://www.businessinsider.com/modern-career-path-2018-7">traditional career path</a>. I had to present my dad with a full business plan and pitch the bar to him. But we had done our market research and knew we had a good idea.We wanted Sama Street to be based on our upbringing and experiences. We wanted a cocktail bar where we utilized ingredients in ways people might not be used to.<div type="image" title="A photo of the interior of Monkey Thief" height="5268" width="7898" msid="115385467" hostid="261" sizebytes="4338152"></div>There are some bars in New York where you don't necessarily feel welcome. Maybe you need to be dressed a certain way, or you're afraid to be loud with your friends. We wanted to create a space where, whether you're wearing sweatpants or coming in on a date night, you are welcome and treated equally.That's where the name comes from. Sama is from the Sanskrit word meaning true equality to all beings.We were looking for a head bartender and posted an ad on Craiglist. That's how we met David. He helped us realize our vision.David: I was working as a general manager at the time, but wanted to get back behind the bar. I saw the ad and skipped over it a few times because they seemed pretty green. But my wife convinced me to call them. We talked for an hour and a half and just clicked right away. We had all the same sort of ideas about hospitality.<h2 id="88091082-fd0e-4bc0-9939-3fbe42de37fc">We opened Sama Street in 2019</h2>David: We learned so much during that process. We <a target="_blank" class="" href="https://www.businessinsider.com/changes-restaurants-pandemic-qr-codes-self-service-kiosks-2024-10">survived the pandemic.</a>Avi: It was rough. We celebrated our one-year anniversary over FaceTime. But Sama Street is in Greenpoint, a very close-knit neighborhood, so our regulars showed up for us. The other bars and restaurants did, too. There was a lot of <a target="_blank" class="" href="https://www.businessinsider.com/what-its-like-to-eat-restaurant-outdoor-dining-nyc-pandemic-2020-6">local industry support.</a>We basically did everything that we were <a target="_blank" class="" href="https://www.businessinsider.com/new-york-restaurants-are-struggling-2020-12">legally able to do</a> to get as many people drinks and food during the lockdown.We're definitely still feeling the ripples of COVID, but it was a great learning experience and taught us that anything can change overnight, and you have to be able to pivot.<div type="image" title="four craft cocktails" height="5464" width="8192" msid="115385469" hostid="261" sizebytes="2130388"></div>I still get worried about financial security some days. As an entrepreneur, you can't pay yourselves unless the business is doing well.<h2 id="e8d53f13-0f83-4bae-9d07-d009ad306ed7">We knew we wanted to expand</h2>David: We searched and searched and searched and came across a spot in Hell's Kitchen and fell in love immediately.Avi: We opened Monkey Thief in October.David: It was very fast. We didn't have to do a lot with the space, mostly cosmetic changes and getting staff trained. The fast opening was good for our pocketbooks but also very high stress. We've all been doing 18-hour days for the last two months.Rishi: We couldn't have asked for a better opening. We've had so much support from the neighborhood, and our regulars from Sama Street have come in to see the new concept.David: It's been a learning curve because it's <a target="_blank" class="" href="https://www.businessinsider.com/restaurant-owners-how-to-run-a-successful-profitable-small-business-2023-10">bigger than Sama Street. </a>But it's a good problem to have. We've got people waiting outside to come in.Rishi: Hopefully, we will open a couple more spaces in the future.Avi: One of the things I love about this industry is that every day is different, though not necessarily in a good way. You might walk in and see the AC has stopped working or the gas is turned off. It's never boring.David: This is not an industry for everyone. The reason we've been successful is that we love coming to work every day. We love the chaos. We love the community.

We left stable careers in tech and consulting to open a cocktail bar in New York City. It was professionally risky but worth it.

Assured of a <keyword id="22615464" type="General" weightage="20" keywordseo="quarterfinal-berth" source="keywords">quarterfinal berth</keyword>, India will aim for consistency when they take on reigning champions <keyword id="19949441" type="General" weightage="20" keywordseo="Belgium" source="keywords" meta.keywordsubtype="org" meta.entityname="Belgium" meta.hostid="261" meta.entityid="Belgium">Belgium</keyword> in their tough penultimate Pool B match of the <keyword id="20028513" type="General" weightage="20" keywordseo="Olympic-Games" source="keywords">Olympic Games</keyword> on Thursday. The Red Lions are leading Pool B with three wins from as many matches, while the Indians are a rung below in the second place with two wins and a draw. Mighty Australia are placed third with seven points from two wins and a loss. <keyword id="19907360" type="General" weightage="20" keywordseo="Argentina" source="keywords" meta.keywordsubtype="org" meta.entityname="Argentina" meta.hostid="261" meta.entityid="Argentina">Argentina</keyword> have also qualified for the quarterfinals with four points from three games, which includes a win, a draw and a loss. <keyword id="19916454" type="General" weightage="20" keywordseo="New-Zealand" source="keywords" meta.keywordsubtype="org" meta.entityname="New Zealand" meta.hostid="261" meta.entityid="New Zealand">New Zealand</keyword> and <keyword id="20054308" type="General" weightage="20" keywordseo="Ireland" source="keywords" meta.keywordsubtype="org" meta.entityname="Ireland" meta.hostid="261" meta.entityid="Ireland">Ireland</keyword> are out of the race after suffering three consecutive losses. Only the top four can make the last-eight stage cut. The Indians started their campaign on a shaky note with a close 3-2 win over New Zealand and then scored a last-minute goal to salvage a draw against former champions Argentina. But against Ireland, it was a completely different performance from the Indians, at least in the first two quarters. They dominated the possession with one-touch play to score two goals in the first quarter which proved vital in the end. India skipper Harmanpreet Singh once again rose to the occasion, first converting a penalty stroke and then finding the net from a set piece in the second quarter to hand his side the win. The Indian mid-field, led by veteran and four-time Olympian Manpreet Singh and vice-captain Hardik Singh, also brought their A game to the table, creating several chances for the forward-line. The likes of Mandeep Singh, Lalit Upadhyay, Gurjant Singh and Sukhjeet Singh sparkled upfront by keeping the pressure on the opposition defence. Against Ireland on Tuesday, India opted for one-to-one short passes to build their attacks, instead of going for aerial balls. Right-back <keyword id="20708828" type="General" weightage="20" keywordseo="jarmanpreet-singh" source="keywords">Jarmanpreet Singh</keyword> has been a revelation in the tournament so far and was omnipresent, be it in defence or creating chances from flanks. Another player who deserves credit is Amit Rohidas, who produced a rock solid performance at the back. He defended the penalty corners brilliantly being the first rusher and from one-on-one situations. But it is India's wall, goalkeeper PR Sreejesh, who is living up to his reputation in his Olympic swansong. He made multiple good saves against Ireland in the last two quarters to hand his side the win. After Belgium, India will end their pool engagements against nemesis Australia on Friday.

Quarters berth sealed, Indian men's hockey team set for first real test in Olympics against Belgium

Most of us think of India as a young country. And as home to one-fifth of the world's young population and with an average age of 29, you're right. But did you know India's elderly population is set to double from its present 153 million to a staggering 347 million, in just 30 years? Moreover, by the end of this century, the population of <keyword id="19894991" type="General" weightage="20" keywordseo="senior-citizens" source="keywords">senior citizens</keyword> in India will surpass the population of those aged under 14, as per a report by the United Nations Population Fund and the International Institute for Population Sciences. As such, with <keyword id="19955368" type="General" weightage="100" keywordseo="Budget-2024" source="keywords">budget 2024</keyword> looming on the horizon, what is it that this burgeoning section of our population wants? We take a look : <h2>Wish 1: Raise deduction threshold for <keyword id="22285655" type="General" weightage="20" keywordseo="mediclaim-premium" source="keywords">mediclaim premium</keyword></h2>At present, senior citizens (aged 60 and above) and super senior citizens (aged 80 and above) can claim a deduction of up to Rs 50,000 on health insurance premiums they pay during the year. For those aged below 60, the annual deduction limit is of Rs 25,000. But, as Tarun Mathur, CBO, Policybazaar.com notes, "There’s a need for an increase in the tax deduction limit for health insurance premiums, to raise the same to Rs 50,000 for individuals, their spouses, and dependent children, and to Rs 1 lakh for senior citizen parents". With insurance regulator <keyword id="6361421" type="General" weightage="20" keywordseo="IRDA" source="Orion">IRDA</keyword> removing the age cap (which was previously 65 years) for buying new insurance policies, health insurance for senior citizens becomes far more accessible. Given that only 20% of India's population aged 60 have any kind of health insurance, a comprehensive insurance coverage with low tax liabilities becomes a necessity for our senior citizens. At present, the government is mulling extending the <keyword id="22285657" type="General" weightage="20" keywordseo="Ayushman-Bharat-Pradhan-Yojana" source="Orion">Ayushman Bharat Pradhan Yojana</keyword> to provide crucial, free healthcare support for India's senior citizens aged above 70. But only time, and July 22nd will tell. <h2>Wish 2: Offer similar tax benefits to pension products as NPS </h2>NPS, or <keyword id="475509" type="General" weightage="20" keywordseo="National-Pension-System" source="Orion">National Pension System</keyword> is a lucrative retirement planning scheme. And it comes with many tax benefits. For instance, if you withdraw up to 60% of your accumulated pension as lumpsum once you turn 60, your withdrawal is tax free. Similarly, if any amount you receive from NPS is reinvested in the annuity plan, it remains tax exempt. However, income from annuities is taxed as per your regular income tax slab. And any early withdrawals that you make (before 60 years) will attract taxes. A standard deduction of Rs 50,000, or amount of annuity income (whichever is lower) can be claimed. But under regular annuities or pension products, senior citizens pay a 10% tax on total taxable income over Rs. 3 lakhs , Rs 20,000 + 20% over amount exceeding Rs 5 lakh, and Rs 1.2 lakh+ 30% on amount exceeding Rs 10 lakh. As Mathur notes, "Pension products like annuity plans should be given the same tax benefits as NPS, since the current taxation does not encourage investment in retirement planning. It’s also necessary to expand Section 80C deductions and add a dedicated category for term insurance because the existing limit of Rs. 1,50,000 is insufficient". Even retirement planner Sanjeev Dawar notes that income from annuities is a primary source of income for retirees. "As such, tax relief is expected since returns, although assured for life, are relatively low. Moreover, they remain fixed and have no sensitivity to inflation". Additionally, Dawar also advocates for special financial considerations for eligible individuals who are compelled to stay in old-age homes in their twilight years. It is also needed that travel concessions, that have been withdrawn, are restarted". <h2>Wish 3: Lowering lock-in periods for elderly </h2>Many schemes like national savings certificate (NSC), unit-linked insurance plans (ULIP) and senior citizen savings scheme (SCSS) are subject to tax deductions, provided they are redeemed after their specific <keyword id="20792448" type="General" weightage="20" keywordseo="lock-in-period" source="keywords">lock-in period</keyword>. For instance, tax-saver FDs, ULIPs and NSC have a lock-in period of 5 years, while equity-linked savings scheme (ELSS) have a lock-in period of 3 years. It would help senior citizens if this lock-in period is reduced, so that they have some liquidity and cash handy during medical or other such emergencies. Additionally, withdrawals should be allowed within lock-in period sans hefty penalties, as is the case right now. <h2>Wish 4: Lowering GST on health insurance premiums </h2>Currently, GST on health insurance premium is payable at 18%, which can translate into a hefty levy, especially since senior citizens end up paying significantly higher premiums to get insurance coverage. For a premium of Rs 30,000, the GST could go as high as Rs 5,400. As per Prasun Sikdar, MD &amp; CEO, Manipal Cigna Health Insurance, "lowering the GST burden on the health insurance premiums will be a huge respite for missing middle and senior citizens to get access to quality healthcare they need and help to significantly boost insurance penetration across India by driving affordability.” <h2> Wish 5: Reduce tax on <keyword id="21695681" type="General" weightage="20" keywordseo="passive-income" source="keywords">passive income</keyword> sources for aged</h2>For most senior citizens, rental income from house, pension and other such passive sources turn into a major income avenue, once they retire from active employment. As such, these should be taxed at a lower slab, and not considered as regular salary. Or else, higher exemption limits should be introduced to allow them to save more. At present, the basic exemption limit for senior citizens between 60-80 years is Rs 3 lakh, while the exemption limit for citizens above 80 years is Rs 5 lakhs. The limits should be revised, keeping in mind how expensive medical care is in current times.

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