Business

TRAI releases consultation paper to formulate ‘National Broadcasting Policy 2024’-Telangana Today

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The consultation paper highlights pertinent issues prevalent in the broadcasting sector with an objective of making India a ‘Global Content Hub’.

Published Date – 2 April 2024, 01:51 PM


TRAI releases consultation paper to formulate ‘National Broadcasting Policy 2024’


New Delhi: The Telecom Regulatory Authority of India (TRAI) on Tuesday released a consultation paper for formulation of the ‘National Broadcasting Policy 2024’, in an effort to bolster the broadcasting sector which is a sunrise industry.

The consultation paper highlights pertinent issues prevalent in the broadcasting sector with an objective of making India a ‘Global Content Hub’.

The consultation paper, titled ‘Inputs for formulation of National Broadcasting Policy-2024,’ has been prepared for seeking comments from stakeholders, the Ministry of Communications said in a statement.

“Written comments on the issues raised in the consultation paper are invited from stakeholders by April 30, 2024. It may be noted that no counter-comments are being invited in this consultation paper, as this paper intends formulation of inputs for the broadcasting policy,” said the TRAI.

The Ministry of Information and Broadcasting in July last year requested the TRAI to provide its considered inputs under Section 11 of the TRAI Act, 1997 for formulation of the National Broadcasting Policy.

As a first step, TRAI issued a pre-consultation paper on September 21, 2023, to elicit the issues which are required to be considered for the formulation of the National Broadcasting Policy.

The broadcasting sector has a huge potential to contribute towards the growth of the Indian economy.

The inputs for formulation of policy aim at stipulating the vision, mission, objectives and strategies for the planned development and growth of the broadcasting sector in the country in the era of new and emerging technologies.

The paper raises questions on the policy and regulatory measures and the strategies to be adopted for increasing the contribution to the economy through universal reach, fostering innovation with a focus on R&D, facilitating job creation, skill development and start-up promotion, said the ministry.

Business

BMW Group, Tata Technologies to develop automotive software solutions in India-Telangana Today

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The JV will commence operations with 100 employees and intends to grow to a four-digit number in the following years, the companies said in a statement.

Published Date – 2 April 2024, 11:50 AM


BMW Group, Tata Technologies to develop automotive software solutions in India


New Delhi: The BMW Group and Tata Technologies on Tuesday announced they are establishing an automotive software and IT development hub with locations in Pune, Bengaluru and Chennai.

The new joint venture (JV) will deliver automotive software, including software-defined vehicle (SDV) solutions for BMW Group’s premium vehicles and digital transformation solutions for its business IT.

The JV will commence operations with 100 employees and intends to grow to a four-digit number in the following years, the companies said in a statement.

“In international comparison, India boasts a large number of talents with outstanding software skills, who can contribute to our software competence,” said Christoph Grote, SVP of Software and E/E Architecture at BMW Group.

Developing vehicle software for the BMW Group means working with top-class processes and tools, which, in turn, gives “Indian software engineers the chance to shape state-of-the-art, premium automotive experiences in future fields such as highly automated driving and artificial intelligence,” he noted.

The main development and operations activities will be established at Bengaluru and Pune. In Chennai, the focus shall be on business IT solutions.

The JV will leverage Tata Technologies’ digital engineering expertise and talent pool in the country to contribute to the BMW Group’s strategic expansion of software coding capabilities across global IT hubs and 24/7 operations.

“Our collaboration with the BMW Group demonstrates our commitment to providing top-tier solutions in automotive software and digital engineering to customers across the world,” said Warren Harris, CEO and MD of Tata Technologies.

Business

India sees 3 pc monthly rise in hiring, white-collar gig jobs up 184 pc-Telangana Today

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The IT sector is at the forefront of the gig boom and the share of IT software in the gig economy has nearly doubled, jumping from 22 per cent in March 2023 to a dominant 46 per cent in March this year.

Published Date – 2 April 2024, 11:00 AM


India sees 3 pc monthly rise in hiring, white-collar gig jobs up 184 pc


New Delhi: India saw a 3 per cent monthly rise in hiring in the months of February and March, as white-collar gig jobs skyrocketed 184 per cent (year-on-year), a report showed on Tuesday.

Additionally, gig workers, representing a vital workforce segment, expanded by 21 per cent over the same period, highlighting companies’ increasing reliance on freelancers and independent contractors to meet business needs, according to the report by foundit (formerly Monster APAC & ME).

The IT sector is at the forefront of the gig boom and the share of IT software in the gig economy has nearly doubled, jumping from 22 per cent in March 2023 to a dominant 46 per cent in March this year.

“The metro cities of Delhi, Bengaluru and Mumbai are paving the way for gig jobs. We expect the gig economy to grow even more in the next few months, so it’s prudent for job seekers to equip themselves with relevant skills that will make them stand out in a competitive market,” said Sekhar Garisa, CEO, foundit.

Advertising and marketing also witnessed significant growth, with the share of gig jobs increasing from 5 per cent to 18 per cent over the past year.

The IT sector saw a marginal decline from 7 per cent growth in February to 2 per cent in March.

The banking/financial services and insurance (BFSI) sector reported stagnant growth.

Engineering, cement, construction and iron/steel maintained a steady growth rate in March, the report noted.

Further, the government, public sector undertakings (PSUs), and defence sectors experienced a slight uptick in hiring activity.

Business

Gold hits new lifetime high amid geopolitical tensions-Telangana Today

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MCX gold prices in India surged to a record high of Rs 69,487 per 10 grams in opening trade, following the uptrend in the international market. As of 11:26 am, it was trading around Rs 68,828.

Published Date – 1 April 2024, 02:40 PM


Gold hits new lifetime high amid geopolitical tensions


Mumbai: Gold prices rose to a new lifetime high of $2,263.53 per ounce in the international market on Monday as geopolitical tensions increase in Central Asia, and the US Fed has signalled a rate cut.

Tracking the rally in the international market, the MCX gold price in India (Gold Futures contract for April 2024 expiry) soared to a record high of Rs 69,487 per 10 gm in opening trade and was hovering at Rs 68,828 at 11:26 am.

“The rise in gold prices has been triggered by the US Fed signalling a rate cut…Gold has continuously been the fond asset class for central banking and safe-haven investment avenue,” said Colin Shah, Founder and MD of Kama Jewelry.

Expectations of low interest rates make financial instruments less attractive for investors compared to gold leading to increased purchases of the yellow and the rise in prices.

Rising geopolitical risks and buying by central banks, led by China have also fuelled gold prices. With no end in sight to the Russia-Ukraine war and the Israel-Hamas conflict spreading to the Red Sea region, gold is seen as an attractive safe haven asset by investors amid geopolitical uncertainty.

The demand for gold in the domestic market is fuelled by the need for precious metal in marriages as it is gifted to brides and grooms in large quantities as jewellery. However, jewellers are of the view that the soaring gold prices may dampen this demand. This is also reflected in the declining imports of the precious metal, according to them.

“Gold prices have moved steadily higher over the last six months as expectations of a dovish Fed policy have been gaining ground. The fall in interest rates is positive for gold prices. The gold prices breaking key long-term resistance levels indicate there may be strong momentum which may continue over the near to medium term, some profit may not be ruled out though,” said Dr Joseph Thomas, Head of Research at Emkay Wealth Management.

Business

boAt introduces India’s first headphones with head-tracking 3D audio-Telangana Today

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boAt unveils ‘Nirvana Eutopia’ headphones, designed in India, featuring spatial audio technology, 3D accelerometers, and gyroscopes, priced at Rs 3,999 in black and white colors.

Published Date – 1 April 2024, 02:20 PM


boAt introduces India’s first headphones with head-tracking 3D audio


New Delhi: Homegrown audio and wearable company boAt on Monday launched India’s first headphones with head-tracking 3D audio and spatial sound features.

By harnessing spatial audio technology and integrating state-of-the-art 3D accelerometers and gyroscopes, boAt unveiled ‘designed in India’ ‘Nirvana Eutopia’ headphones for Rs 3,999 in black and white colours.

“As you move your head, the audio dynamically adapts, preserving the direction and alignment of the sound origins, creating the sensation of being fully immersed within the depicted scene,” said the company.

boAt is offering calibrated 40mm dynamic drivers for an immersive 3D spatial sound.

The device offers 20-hour battery life (15 hours in head-tracked spatial mode), offering hours of uninterrupted bliss.

“With ASAP Charge and the Type-C port, just a quick 10-minute charge provides 90 minutes of uninterrupted enjoyment, whether you’re at home, commuting, or embarking on a lengthy journey,” the company added.

The boAt ‘Nirvana Eutopia’ is designed around the Bluetooth v5.2 technology, offering seamless audio experiences, faster pairing times, and more dependable connections.

Business

Sensex, Nifty hit all-time high in early trade-Telangana Today

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Extending its winning momentum to the third day running, the 30-share BSE Sensex jumped 556.98 points to 74,208.33 in early trade. The NSE Nifty climbed 192.1 points to 22,519.

Published Date – 1 April 2024, 12:20 PM


Sensex, Nifty hit all-time high in early trade


Mumbai: Benchmark equity indices started the new fiscal on a bullish note on Monday, with the Sensex and Nifty reaching all-time high levels, amid firm trends from Asian markets and foreign fund inflows.

Extending its winning momentum to the third day running, the 30-share BSE Sensex jumped 556.98 points to 74,208.33 in early trade. The NSE Nifty climbed 192.1 points to 22,519.

Later, the BSE Sensex reached its all-time high of 74,254.62 and the NSE Nifty hit the lifetime peak of 22,529.95.

From the Sensex basket, JSW Steel, Tata Steel, Kotak Mahindra Bank, HDFC Bank, Tata Motors, and Larsen & Toubro were the major gainers.

In Asian markets, Seoul and Shanghai were quoting in the green while Tokyo traded lower.

Wall Street ended on a mixed note on Thursday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 188.31 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude climbed 0.37 per cent to USD 87.32 a barrel.

“The undertone of the market is bullish and there is momentum in the market,” Geojit Financial Services Chief Investment Strategist V K Vijayakumar said.

Equity markets were closed on Friday for Good Friday.

The BSE benchmark jumped 655.04 points, or 0.90 per cent, to settle at 73,651.35 on Thursday. The NSE Nifty climbed 203.25 points, or 0.92 per cent, to end at 22,326.90.

In the 2023-24 financial year, the BSE benchmark jumped 14,659.83 points or 24.85 per cent, while the Nifty soared 4,967.15 points or 28.61 per cent.

Business

No new Income Tax changes from April 1, 2024: Finance Ministry-Telangana Today

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New Tax Regime (Section 115BAC(1A)) Introduced in Finance Act 2023, Contrasts with Old Regime sans Exemptions

Updated On – 1 April 2024, 09:21 AM


No new Income Tax changes from April 1, 2024: Finance Ministry


New Delhi: The Finance Ministry has clarified that there is no new change in the income tax regime that is coming in from April 1, 2024, as is being reported by some social media platforms.

“It has come to notice that misleading information related to new tax regime is being spread on some social media platforms. It is therefore clarified that: There is no new change which is coming in from April 1, 2024,” the Finance Ministry said on Sunday in a post on X.

The new tax regime under Section 115BAC(1A) was introduced in the Finance Act 2023, as compared to the existing old regime without exemptions.

The new tax regime is applicable for persons other than companies and firms, as a default regime from the Financial Year 2023-24 and the Assessment Year corresponding to this is AY 2024-25, the Finance Ministry said.

Under the new tax regime, the tax rates are significantly lower, though the benefit of various exemptions and deductions (other than standard deduction of Rs 50,000 from salary and Rs 15,000 from family pension) is not available, as in the old regime, the Finance Ministry added.

The new tax regime is the default tax regime, however, taxpayers can choose the tax regime (old or new) that they think is beneficial to them.

Option for opting out from the new tax regime is available till filing of return for the AY 2024-25.

Eligible persons without any business income will have the option to choose the regime for each financial year. Therefore, they can choose the new tax regime in one financial year and the old tax regime in another year and vice-versa, the Finance Ministry said in a statement.

Business

Exchange, deposit at RBI offices won’t be available on April 1-Telangana Today

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Notably, the window for depositing and/or exchanging the Rs 2,000 banknotes continues to be available at the 19 issue offices of the RBI.

Published Date – 28 March 2024, 09:59 PM


Rs 2000 banknotes: Exchange, deposit at RBI offices won’t be available on April 1

Representational Image

New Delhi: The window for the exchange or deposit of Rs 2000 banknotes at RBI regional offices will not be available on Monday, April 1, RBI said on Thursday.

The central bank cited operations related to “Annual Closing of Accounts” as the reason behind the unavailability of exchange and deposit services. The facility will resume on Tuesday.

About 2.4 per cent of the just-withdrawn Rs 2,000 banknotes are still in circulation, about six months after the deadline to deposit or exchange them at bank branches is over.

This essentially meant 97.6 per cent of the total value of the high-value Rs 2,000 banknotes were back in the banking system.

The last day for the public to avail of exchange or to deposit high-value Rs 2000 banknotes at the banks was Saturday (October 7).

The total value of Rs 2000 banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023, the date on which RBI decided to withdraw the banknote. As of February 29, it has declined to Rs 8,470 crore.

The Rs 2000 banknotes continue to be legal tender.

Notably, the window for depositing and/or exchanging the Rs 2,000 banknotes continues to be available at the 19 issue offices of the RBI.

Those 19 RBI issue offices are in Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.

Members of the public from within the country can send Rs 2000 banknotes through India Post from any post office in the country to any of the RBI Issue Offices for credit to their bank accounts in India.

Members of the public from within the country can send Rs 2000 banknotes through India Post from any post office in the country to any of the RBI Issue Offices for credit to their bank accounts in India.

The Rs 2000 banknote was introduced in November 2016, primarily to meet the currency requirements of the economy expeditiously after the withdrawal of the legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time.

The objective of introducing Rs 2000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, the printing of Rs 2000 banknotes was stopped in 2018-19.

Business

Kia unveils K4 compact sedan in US ahead of launch-Telangana Today

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Kia will assemble the K4 compact at its plant in Mexico, and sell it to customers in the United States and Canada during the second half of this year.

Updated On – 28 March 2024, 02:28 PM


Kia unveils K4 compact sedan in US ahead of launch

Photo: X

Seoul: Kia, South Korea’s second-biggest carmaker by sales, said on Thursday that it has unveiled the K4 compact sedan at the New York auto show as it plans to launch the vehicle in North American markets this year.

Kia will assemble the K4 compact at its plant in Mexico, and sell it to customers in the United States and Canada during the second half of this year, reports Yonhap news agency, citing a company spokesperson.

The new model will be available in two versions, one with a 2.0-litre gasoline engine and the other with a 1.6-litre gasoline turbocharged engine, it said.

The model won’t be imported to Korea, the spokesperson added.

Kia said it will exhibit dozens of models, including the K4, the EV6 and EV9 all-electric cars, and the Telluride SUV, during the motor show due March 29 through April 7.

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Pakistan says Irans gas project ‘need of the hour’, pushes for US sanctions waiver

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Pakistan’s Petroleum Minister Musadik Malik has underlined his country’s urgent demand for a US sanctions waiver regarding the gas pipeline from Iran, saying Islamabad’s position on the gas transfer project with the Islamic Republic is not merely an expression of desire but “the need of the hour.”

Malik pointed to the Pakistan-Iran gas pipeline, known as the Peace Pipeline, a long-term project between Tehran and Islamabad that has faced delays and funding challenges due to US sanctions for several years.

“We are earnestly striving to advance this project and we have numerously conveyed this commitment to our Iranian brothers,” the oil minister told local broadcaster Geo News television channel.

Touching on the US acts of obstructionism in the implementation of the joint gas project with Iran, Malik said, “Pakistan will definitely continue its contacts with the American side regarding Iran’s sanctions waiver.”

Pakistan’s petroleum minister stressed that since Iraq, Turkey and the Republic of Azerbaijan are able to benefit from the sanctions exemption by the US administration, Pakistan should also benefit for the implementation of the Tehran-Islamabad gas pipeline project.

“We will definitely try to receive exemptions from sanctions by the United States and at the same time we assure our brother country Iran that Pakistan is committed to the gas project and favors investment in it,” Malik said.


“Islamabad’s position is clear and we do not just express our desire for the gas transfer from the Islamic Republic of Iran, but rather we need this project.”

Speaking to congressmen during a congressional hearing in Washington last Wednesday, the US assistant secretary of State for South and Central Asia vividly stated that the United States opposes the Iran-Pakistan gas pipeline project and is exerting maximum efforts to prevent its construction.

Warning of potential sanctions for Islamabad for doing business with Tehran, Donald Lu claimed that the project was not in the interest of Pakistan as international companies would not invest in it.

Earlier this month, Pakistani Foreign Ministry spokesperson Mumtaz Zahra Baloch underlined that since the pipeline is being constructed inside the country’s territory, “We do not believe there is room for any objections by any third party.”

Back in February, Pakistan gave the green light for advancing much-delayed work on the joint gas pipelines project with Iran within its territory in a significant step towards enhancing energy cooperation between the two countries.

Pakistan’s Cabinet Committee on Energy (CCoE) granted its approval to start construction on the 80-kilometer pipeline from the Pak-Iran border to Gwadar.

The project, launched in 2013, had initially required Pakistan to finish the construction of the pipeline on its territory by the end of 2014.

However, the project faced prolonged delays due to the potential challenges it posed for Pakistan amid international sanctions targeting Iran, which has already completed the laying of a 900-kilometer pipeline.

Iran has already invested $2 billion in the pipeline on its side of the border.

Pakistan is likely to face an $18-billion fine if it terminates the gas pipeline agreement.

Iran and Pakistan signed a five-year trade plan in August 2023 and set a bilateral trade target at $5 billion.