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The first full budget of the BJP-led NDA government in its third successive term will be presented by <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> on July 23. The government on Saturday announced the dates of the budget session of Parliament which will start on July 22 and conclude on August 12. Finance Minister Nirmala Sitharaman, who will present the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024-25, has been holding pre-budget consultations. As part of the deliberations, she has met economists, experts in finance and capital markets, industry representatives and agriculture experts. Industry bodies, including the Confederation of Indian Industry (CII), have urged the government to increase capital expenditure in the upcoming budget. This will be Sitharaman's seventh budget in a row. She will be the first Union Finance Minister to present seven consecutive union budgets. Former Prime Minister Morarji Desai had presented six budgets in a row. Parliamentary Affairs Minister Kiran Rijuju announced the dates of budget session. "Hon'ble President of India, on the recommendation of the Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July 2024 to 12 August 2024 (Subject to exigencies of Parliamentary Business). Union Budget, 2024-25 will be presented in Lok Sabha on 23 July 2024," he posted on X. The <keyword id="19916814" type="General" weightage="20" keywordseo="Modi-government" source="keywords" meta.keywordsubtype="org" meta.entityname="Modi government" meta.hostid="153" meta.entityid="Modi government">Modi government</keyword> had presented an interim budget in February this year. Sitharaman had announced in the interim budget that the capital expenditure outlay for the next year is being increased by 11.1 per cent to Rs 11,11,111 crore, which would be 3.4 per cent of the GDP. The government had also announced that Rs one lakh crore corpus will be established with five-year interest free loan for youth. Newly-elected Lok Sabha members took oath in the first session of 18th Lok Sabha held from June 24 to July 2 following the results of the general elections. President Droupadi Murmu addressed the joint sitting of two Houses on June 27 and both Lok Sabha and Rajya Sabha adopted a motion of thanks on the President's address. Prime Minister Narendra Modi replied to the debate on the motion of thanks in the two Houses of Parliament. BJP-led National Democratic Alliance returned to power for the third successive term in the general elections.

FM Nirmala Sitharaman to present first budget of Modi 3.0 on July 23

Domestic <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">gold prices</keyword> have risen by 10% on a year-to-date basis on the back of the strength in global gold prices, which have surged by 18% year-to-date, driven by robust <keyword id="19894998" type="General" weightage="20" keywordseo="central-bank" source="keywords">central bank</keyword> purchases, heightened geopolitical risks, and growing expectations of a monetary policy pivot from the <keyword id="19901377" type="General" weightage="20" keywordseo="us-federal-reserve" source="keywords">US Federal Reserve</keyword>, according to the <keyword id="20195223" type="General" weightage="20" keywordseo="World-Gold-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="World Gold Council" meta.hostid="153" meta.entityid="World Gold Council">World Gold Council</keyword>. The reduction in <keyword id="20069572" type="General" weightage="20" keywordseo="import-duty" source="keywords">import duty</keyword> has ignited a resurgence in gold demand across <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>. Reports from the recently concluded India International Jewellery Show indicate a substantial increase in order bookings from retailers, particularly in preparation for the upcoming festive and wedding season. Manufacturers have noted that in some cases, orders have reached levels not seen in several years, underscoring the strong buying interest among <keyword id="21595593" type="General" weightage="20" keywordseo="jewellery-retailers" source="keywords">jewellery retailers</keyword> and consumers alike. The trend of bar and coin buying has also remained robust, with both consumers and jewellers capitalizing on the more attractive prices to stock up for future manufacturing needs. Historical analysis suggests that Indian consumer demand, encompassing jewellery and bar and coin demand, could see an additional 50 tonnes or more in the second half of 2024. This potential increase is fueled by a combination of an initial boost in consumer appetite due to the more attractive prices and a longer-term alignment of local prices with international rates. In a notable shift, domestic gold prices, which had been trading at a discount to international prices for five consecutive months, have now started trading at a premium following the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> announcement. The discount had widened significantly in July, reaching a peak of around $80 per ounce in the third week of the month, driven by subdued demand and an increased supply of gold through various preferential trade agreements and unofficial channels. However, wholesalers who had inventory purchased under the old customs duty regime began selling gold at a premium to the landed cost to mitigate their losses, further supported by increased consumer demand. While the premiums have moderated recently, from $28 per ounce to around USD 5 per ounce, this shift highlights the changing market sentiment and the impact of rising international gold prices and potential inventory valuation adjustments. The changes introduced in the Union Budget, including a reduction in the long-term investment holding period and a lower tax rate, have made gold ETFs a more attractive investment option. Data from the Association of Mutual Funds in India (AMFI) reveals that net inflows into gold ETFs in July amounted to Rs 13.4 billion (approximately USD 160 million), marking the highest monthly inflows since February 2020 and an 84% increase compared to June 2024. Despite these inflows, the total assets under management (AUM) for Indian gold ETFs grew marginally by 0.3% from the previous month, reaching Rs 345 billion ($4.1 billion). This modest increase can be attributed to the 8 % fall in domestic gold prices following the import duty reduction. Year-to-date, net inflows into Indian gold ETFs have totalled Rs 45 billion ($543 million), with total AUMs rising by 48 % from a year ago. The <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="153" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) has continued its gold purchasing trend, although at a slower pace following a significant increase in June, when purchases reached 9.3 tonnes--the highest monthly total in nearly two years. Year-to-date, the RBI's gold acquisitions have totaled 44.3 tonnes, surpassing the total purchases of the past two years combined. The RBI's gold reserves have now reached a record 849 tonnes, representing 8.8% of total foreign reserves, compared to 7.5 % a year ago. In July, gold imports remained steady at $3.1 billion, maintaining the stable trend observed over the previous three months. Between April and July, imports averaged $3.2 billion, with volumes ranging between 43 and 47 tonnes during this period. The gold import bill for July 2024 was 11 % lower than the previous year, with an estimated 26% decrease in volume terms, around 47 tonnes. Despite a surge in international gold prices, domestic gold prices in India have experienced a notable decline, primarily due to the 9 % reduction in import duty announced in the Union Budget 2024-25. This policy change has led to a 6% decrease in the landed cost of gold, marking a shift in the domestic gold market dynamics.

Domestic gold prices surge 10% amid global price rally, central bank buying: World Gold Council

<keyword id="20305504" type="General" weightage="20" keywordseo="Khelo-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Khelo India" meta.hostid="261" meta.entityid="Khelo India">Khelo India</keyword>, which is the government's flagship project to promote sports at the grassroots level, was once again the biggest beneficiary in the union <keyword id="19936553" type="General" weightage="100" keywordseo="budget" source="keywords">budget</keyword> for the <keyword id="19896478" type="General" weightage="20" keywordseo="sports-ministry" source="keywords">sports ministry</keyword> as it was assigned Rs 900 crore from the overall allocation of Rs 3,442.32 crore on Tuesday. Kehlo <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s share, announced in the budget presented by finance minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> here, is Rs 20 crore more than the revised allocation of Rs 880 crore during the previous financial year. With the <keyword id="19986816" type="General" weightage="20" keywordseo="Olympic" source="keywords">Olympic</keyword> cycle set to come to an end in Paris in August this year, and the <keyword id="19895708" type="General" weightage="20" keywordseo="Commonwealth-Games" source="keywords">Commonwealth Games</keyword> and <keyword id="20007738" type="General" weightage="20" keywordseo="Asian-Games" source="keywords">Asian Games</keyword> still two years away, the budget for the Sports Ministry has seen only a marginal increase of Rs 45.36 crore from the previous cycle. The budget for the previous cycle was Rs 3,396.96 crore for the previous financial year. The government has invested heavily in Khelo India over the years as the programme continues to unearth talent from all parts of the country. While Khelo India's actual allocation in 2022-23 stood at Rs 596.39 crore, it was increased by more than Rs 400 crore, to Rs 1,000 crores, in the 2023-24 budget, before being revised to Rs 880 crore. The government has continued to add programmes ever since the inaugural Khelo India Youth Games (KIYG) were held in 2018. The ministry added Khelo India University Games in 2020, before also launching the Khelo India Winter Games the same year and the Khelo India Para Games in 2023. Hundreds of Khelo India State Centres of Excellence (KISCE) have been set up across the country, which aim to provide facilities for athletes with potential. Several Khelo India athletes are currently in India's Olympic-bound contingent. The government's assistance to <keyword id="20418970" type="General" weightage="20" keywordseo="National-Sports-Federations" source="keywords" meta.keywordsubtype="org" meta.entityname="National Sports Federations" meta.hostid="261" meta.entityid="National Sports Federations">National Sports Federations</keyword> (NSFs) has also seen an increase of Rs 15 crore -- from Rs 325 crore in 2023-24 to Rs 340 crore in the latest budget. The budget for Sports Authority of India, which apart from maintaining its stadia across the country also manages the Target Olympic Podium Scheme (TOPS) to prepare athletes for the global sporting extravaganzas, has also been enhanced from Rs 795.77 crore to Rs 822.60 crore, which is a jump of Rs 26.83 crore. The <keyword id="20524251" type="General" weightage="20" keywordseo="National-Anti-Doping-Agency" source="keywords" meta.keywordsubtype="org" meta.entityname="National Anti-Doping Agency" meta.hostid="261" meta.entityid="National Anti-Doping Agency">National Anti-Doping Agency</keyword> (NADA) and the National Dope Testing Laboratory (NDTL), which does all the testing, have received marginal increase in their budgets. While NADA's budget has gone up from Rs 21.73 crore last year to Rs 22.30 crore, NDTL has got Rs 22 crore, up from Rs 19.50 last year.

Khelo India once again gets lion's share in Union Budget for sports

With the 2024 general elections handing the <keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords" meta.keywordsubtype="org" meta.entityname="BJP" meta.hostid="261" meta.entityid="BJP">BJP</keyword> and its allies a fractured, albeit ruling majority in the country for the third consecutive time, India is now gearing up for the 2024–25 <keyword id="19908389" type="General" weightage="20" keywordseo="Union-budget" source="keywords">Union budget</keyword>, which will be presented on July 22 between 11 am and 1 pm. The <keyword id="20613906" type="General" weightage="20" keywordseo="economic-survey" source="keywords">economic survey</keyword> is traditionally presented the day before. However, as per reports, the economic survey is likely to be released on July 3rd this year. The famous halwa ceremony will take place 10 days before the budget is tabled. Pre-budget consultations will begin on June 17th. FM <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> will become the first finance minister to have presented seven straight budgets, a record previously held by <keyword id="238033" type="General" weightage="20" keywordseo="Morarji-Desai" source="Orion">Morarji Desai</keyword>, who had six consecutive budget presentations to his name. To date, Sitharaman has tabled five full and one interim budget. The first parliamentary session under Modi 3.0 will kick off on June 24, and the 264th session of the parliament will take place between the 27th of June and the 3rd of August. The year is set to see two budgets: one full-fledged budget in July and an interim budget presented on February 1, 2024. <cmsannotation type="cmsannotation" annotationid="What can we expect from this budget?" comment="subhead" text="What can we expect from this budget?">What can we expect from this budget?</cmsannotation> Presenting an interim budget is customary during election years in India since it facilitates the transfer of work and finances between the outgoing and incoming governments. With the upcoming budget, PM Modi’s government will largely focus on tackling unemployment, issues in the agriculture sector, and maintaining the flow of capital expenditure in the economy. The simplification of the <keyword id="19993914" type="General" weightage="20" keywordseo="GST-regime" source="keywords">GST regime</keyword> and rolling out the 3rd edition of the <keyword id="20359761" type="General" weightage="20" keywordseo="FAME-scheme" source="keywords">FAME scheme</keyword> (Faster Adoption &amp; Manufacturing of Electric Vehicles) will also rank highly on the budget agenda. In that stead, a meeting of the GST council is also scheduled to take place on June 22nd. Additionally, experts are also anticipating the expansion of the PLI (production-linked incentives) schemes in this budget to include other sectors as well. <cmsannotation type="cmsannotation" annotationid="Lesser-known budget milestones" comment="subhead" text="Lesser-known budget milestones">Lesser-known budget milestones</cmsannotation> Till 2019, the union budget was carried in a briefcase, a practice initiated by India’s first FM, Sir RK Shanmukham Chetty. In 2019, the budget was presented as a traditional bahi-khata for the first time. It went paperless in 2021 after the FM introduced the budget via a tablet. Apart from having presented most budgets, Sitharaman also holds the record for having delivered the longest budget speech while presenting the Union budget for 2020–21. She spoke for two hours and 42 minutes. On the other hand, India’s shortest-ever budget speech was given in 1977 by Hirubhai Patel.

Union budget 2024-25 : When will it be presented, what to expect and more

<ul class="summary-list"><li>Some young people are considering a "lavender marriage" over a traditional relationship.</li><li>Lavender marriages historically helped conceal sexual orientation, but Gen Zers are redefining it.</li></ul>For many young people right now, the <a target="_blank" href="https://www.businessinsider.com/dating-apps-find-love-romance-online-tinder-match-total-scam-2024-10">dating scene is rough</a>, their families are far away, and <a target="_blank" href="https://www.businessinsider.com/high-rent-costs-renters-rental-housing-market-affordability-income-prices-2024-5">housing is expensive</a>.To share the load, some are opening up applications for "lavender marriages" — something that was once the preserve of the LGBTQ+ community.The term was originally coined in the early 20th to describe a union between a man and a woman in which one or both partners are homosexual or bisexual.It was meant to provide a facade for those who wanted to hide their sexuality from wider society.But lavender marriages have made a resurgence on social media in recent months among Gen Zers who are tired of being broke, single, <a target="_blank" class="" href="https://www.businessinsider.com/tiktokers-are-documenting-the-epidemic-of-loneliness-2023-4">and lonely</a>. Some videos with the hashtag #lavendermarriage on TikTok have amassed <a target="_blank" class="" href="https://vm.tiktok.com/ZGdeFu9BW/">millions of views</a> on the platform.Robbie Scott, a TikToker and musician with 300,000 followers, recently posted a video asking for "applications for a lavender marriage" because he wanted to live with someone so he could afford mortgage payments, utilities, and taxes."You can mess around with whoever you want, whenever you want, I don't care," he said in the video, which has received <a target="_blank" class="" href="https://vm.tiktok.com/ZGdeYrKj4/">more than five million views</a>. "In fact, I encourage it. Have fun. Live your best life."<h2 id="1c4be94f-a91b-485c-9850-ac0905f2ba7c">A modern-day lavender marriage</h2>Traditionally, a lavender marriage was just that — a legally binding marriage.Edward Reese, a gender and sexuality expert at the LGBTQ+ dating app Taimi, told Business Insider that this can still be true. It can bring benefits such as inheritance rights, childcare, tax breaks, better mortgage rates, and primary care if one of you gets ill."People can do it in case one or both partners don't have family or have gone no contact, and their lavender spouse becomes not only their best friend but a legal family member," he said.But the modern version of a lavender marriage could also simply be a spoken agreement between two people to live their lives like a married couple, without the sex.This is different from having a roommate, Reese added, who can move out of a shared household any minute, whenever they choose."The couple in the lavender marriage is expected to get through all the conflicts, discuss and compromise," he said. "It's a union with commitment, love, and loyalty, and all of these can be not romantic."Christine DeVore, a licensed clinical psychologist who is the director of adult and couples services at Birch Psychology, told BI that a lavender marriage offers a practical solution to some of life's burdens."It's a way to ease financial stress while still being independent," she said.While somewhat tongue-in-cheek, Scott's video on TikTok prompted other Gen Zers to share their thoughts. They said lavender marriages were "<a target="_blank" href="https://www.tiktok.com/@a_literal_crab_rangoon/video/7421015761826663722">looking more appealing by the day</a>" and that the agreement might be what they "<a target="_blank" href="https://www.tiktok.com/@afreakingmaya/video/7375348974997523758">really need</a>."Several older viewers commented, saying they had given lavender marriages a try and were happier than ever.<div type="image" title="Couple holding hands, wearing wedding rings, on their wedding day." height="2574" width="3861" msid="114123013" hostid="261" sizebytes="164894"></div>Sofie Roos, a licensed sexologist, relationship therapist, and sexual health expert who writes for the sex-positive magazine <a target="_blank" href="https://passionerad.se/">Passionerad</a>, added that there are many other benefits to a lavender marriage, including physical touch and comfort.She said benefits can include "cuddling in front of a TV show or when reading a book, sleeping together, and providing physical support and safety when needed.""Just as in every marriage, you feel safe with the person," Roos added. "Even though no attraction is involved, you can gain much more from being physically close to your lavender married partner than being close to a friend or to a one-night stand."<h2 id="0b761dc2-b1a7-47c3-8360-c29646ae62d2">A deeper issue</h2>It's unclear exactly how many lavender marriages are taking place, and to what extent the conversations on TikTok reflect a wider trend. But they do hint at more serious societal issues.Dating is still big business. Dating companies generated more than <a target="_blank" href="https://www.businessinsider.com/dating-apps-find-love-romance-online-tinder-match-total-scam-2024-10">$5 billion</a> in 2023 alone. Match Group generated annual revenues of more than $3.4 billion, while Bumble had revenues of $1.1 billion last year.But growth appears to be slowing. Match Group's paying users fell by around 6% in the first quarter of the year. It is now valued at $9.51 billion, down from $50 billion in 2021. Meanwhile, Bumble's value has fallen by around 90% since it went public in 2021. It is now worth around $822 million.That may be because Gen Zers are <a target="_blank" href="https://www.businessinsider.com/gen-z-dating-trend-online-apps-friends-romantic-partners-relationships-2023-3">turning away from </a>dating apps, with some thinking the apps now miss the point of what made them fun in the first place — <a target="_blank" href="https://www.businessinsider.com/tinder-hinge-okcupid-operator-match-sued-making-dating-apps-addictive-2024-2">going after profits</a> rather than real connections.Others are tired of modern dating culture, with <a target="_blank" href="https://www.businessinsider.com/fancy-first-date-no-connection-ghosted-2023-8">ghosting</a>, catfishing, and some prospective partners not showing up to dates at all.One creator, Cleopatra, who is 23, told BI that what really appealed to her is the community aspect, where women can live without fear of being hurt or abused."I think the majority want change," Cleopatra said. "This patriarchal lifestyle, these gender roles, are becoming exhausting, to say the least.""The dating pool is certainly full of shit," she added.She said the financial stability the arrangement could offer was also definitely a draw, particularly given <a target="_blank" href="https://www.businessinsider.com/gen-z-millennials-housing-costs-insurance-debt-election-trump-biden-2024-6">Zoomers have more debt</a> and are paying more for housing than millennials did a decade ago.According to a recent <a target="_blank" href="https://www.businessinsider.com/dating-apps-find-love-romance-online-tinder-match-total-scam-2024-10">Washington Post</a> analysis of Bureau of Labor Statistics data, Gen Z is spending 31% more on housing costs compared to what millennials paid 10 years ago, a figure which also factors in inflation.The Post analysis said that car insurance costs increased more than twofold for Americans aged 16 to 24 between 2012 and 2022, and health insurance costs spiked 46% for this group during the same time span.That has led some to consider "<a target="_blank" href="https://nypost.com/2023/12/13/lifestyle/i-want-an-inflationship-lets-live-sexless-and-financially-free-in-the-same-bed/">inflationships</a>" — living in the same room, in the same bed, without having sex. Lavender marriages could just be furthering this trend.<h2 id="d50f74e2-7f51-4604-8646-2d542838f5a1">Boundaries are important</h2>For young people who are reconsidering how to approach relationships, a lavender marriage "can be a great replacement," Reese said. People are more commonly discovering they are aromantic or asexual, he added, which questions the pop culture norm of focusing on straight sex and love for so long.There are challenges, however. DeVore and Roos warned that emotional complexities can arise from such entanglements, and open communication about boundaries and feelings is vital for it to work.For example, the rules of a lavender marriage may be vague, meaning there could be the potential for upset down the line. Partners may disagree on what is allowed outside the relationship and what isn't and have different ideas of what defines cheating.Roos said this is when lavender marriages can show their weak side, triggering feelings of jealousy and sadness if one partner starts feeling left out.The arrangement may also not suit both people forever, such as if one decides to pursue a romantic relationship."What felt OK when talking things through before, or at the beginning, of the marriage, might therefore, later on not feel OK at all," Roos said.Ultimately, she said challenges and conflicts can arise even in the most committed partnerships, DeVore said."While a lavender marriage may offer certain advantages, it does not guarantee a lifetime of happiness and fulfillment," she said."It's important to remember that no relationship, including a lavender marriage, is immune to heartache."

For Gen Zers tired of dating, applications for lavender marriages are open

The fiscal deficit for 2022-23 worked out to be 6.4 per cent of the gross domestic product (GDP), as it was projected by the <keyword id="25455" type="General" weightage="80" keywordseo="finance" source="Orion">finance</keyword> ministry in the revised budget estimates, according to government data released on Wednesday. Unveiling the revenue-expenditure data of the Union government for 2022-23, the Controller General of Accounts (<keyword id="237356" type="General" weightage="100" keywordseo="cga" source="Orion">CGA</keyword>) said that the fiscal deficit in absolute term was Rs 17,33,131 crore (provisional). The government borrows from the market to finance its fiscal deficit. CGA further said the revenue deficit worked out to be 3.9 per cent of GDP, while the effective revenue deficit was 2.8 per cent of GDP. In the <keyword id="6360189" type="General" weightage="50" keywordseo="union-budget" source="Orion">Union Budget</keyword> presented by Finance Minister <keyword id="129243" type="General" weightage="80" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> in the <keyword id="6355187" type="General" weightage="80" keywordseo="lok-sabha" source="Orion">Lok Sabha</keyword> on February 1, the fiscal deficit target for 2023-24 was pegged at 5.9 per cent of the GDP. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/delhi-metro-launches-whatsapp-based-ticketing-service-on-airport-line/articleshow/100646250.cms">Delhi Metro launches WhatsApp-based ticketing service on Airport Line</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/vedanta-resources-pays-400-million-debt-borrowings-down-to-6-4-billion/articleshow/100649176.cms">Vedanta Resources pays $400 million debt, borrowings down to $6.4 billion</a>

Centre's fiscal deficit for 2022-23 at 6.4% of GDP: CGA data

<ul><li><keyword id="19906778" type="General" weightage="100" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="261" meta.entityid="Infosys">Infosys</keyword> has delayed hiring of 2000 young professionals</li><li><keyword id="20033579" type="General" weightage="20" keywordseo="NITES" source="keywords" meta.keywordsubtype="org" meta.entityname="NITES" meta.hostid="261" meta.entityid="NITES">NITES</keyword> has filed a complaint in the matter</li><li>Infosys is also making headlines for its new Power Programme</li></ul> The Nascent Information Technology Employees Senate (NITES), a Pune-based <keyword id="22859482" type="General" weightage="20" keywordseo="IT-employee-union" source="keywords">IT employee union</keyword>, has filed a formal complaint with the Ministry of Labour and Employment against Infosys. The union alleges that Infosys has delayed the <keyword id="22570539" type="General" weightage="20" keywordseo="onboarding-process" source="keywords">onboarding process</keyword> for around 2,000 <keyword id="22859483" type="General" weightage="20" keywordseo="fresh-engineering-graduates" source="keywords">fresh engineering graduates</keyword> for over two years, leaving them in a state of uncertainty and distress. <h2>Infosys delayed freshers' onboarding for more than two years</h2>According to NITES, these graduates were selected for roles such as system engineer and digital specialist engineer as early as April 2022. Despite receiving offer letters, the onboarding process has been repeatedly postponed. The affected graduates were required to participate in unpaid pre-training programs and undergo additional, unexpected assessments, further complicating their entry into the workforce. NITES claims that despite fulfilling all the prerequisites set by Infosys, these young professionals have been kept in limbo, leading to significant frustration and anxiety. The union views this situation as a serious breach of trust by Infosys, which has long been regarded as one of the pillars of India’s IT industry. Harpreet Singh Saluja, President of NITES, expressed deep concern over the situation, emphasizing the broader implications for the Indian IT sector. “We believe that this is not just a breach of trust by one of India’s largest IT companies, but also a significant issue that impacts the future of our country’s <keyword id="22360158" type="General" weightage="20" keywordseo="IT-workforce" source="keywords">IT workforce</keyword> and economy. We are calling on the government to take immediate and strict action against Infosys to ensure that such exploitative practices are halted and that the rights of these young professionals are protected,” Saluja said, according to a report by The Economic Times. The complaint filed by NITES highlights that even after long delays, the graduates were asked to participate in an unpaid virtual pre-training program from July 1 to July 24, 2024. They were promised final joining dates of either August 19 or September 2, 2024. However, despite completing the training, they were informed that they would need to retake the exam offline, once again without pay. This has only added to their frustration and uncertainty about their future with the company. <h2>Infosys’ Power Programme</h2>In a contrasting development, Infosys is also making headlines for its recent campus placement drive, where it has introduced a new 'power programme.' According to a report by The Times of India, the company is offering pay packages of up to Rs 9 lakh per annum to select colleges, a significant increase from its standard entry-level packages, which typically range from Rs 3-3.5 lakh. This move is seen as part of Infosys’ strategy to attract highly specialized talent in areas such as coding, software development, cloud computing, AI/ML, and cybersecurity. Infosys plans to hire between 15,000 and 20,000 graduates in FY25. During its earnings call last month, Infosys announced plans to resume campus placements and off-campus fresher hiring in the current fiscal year. The top four IT firms in India are expected to collectively add about 82,000 freshers in FY25. Among them, HCLTech and <keyword id="19945574" type="General" weightage="20" keywordseo="wipro" source="keywords">Wipro</keyword> plan to hire 10,000 and up to 12,000 freshers, respectively. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/work-life-balance-is-a-myth-photo-of-man-working-in-front-of-momo-stall-goes-viral-internet-reacts/articleshow/112516510.cms" data-type="tilCustomLink" target="_blank">'Work-life balance is a myth’: Photo of man working in front of momo stall goes viral, Internet reacts</a> <a href="https://www.businessinsider.in/tech/article/arrange-or-love-marriage-debate-is-passe-people-are-now-marrying-their-ai-partners/articleshow/112522764.cms" data-type="tilCustomLink" target="_blank">Arrange or love marriage debate is passe, people are now marrying their AI partners</a>

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