“There Will Be Jobs”: Microsoft CEO Satya Nadella On How AI Will Change Workplace

Artificial Intelligence (AI) is considered to be one of the key developments of 2023 as tech honchos highlighted the positive impact of the technology across society. However, several C-suite executives, including OpenAI’s Sam Altman and Google CEO Sundar Pichai have hinted at job cuts, sugarcoating what’s to come.Microsoft CEO Satya Nadella has shared his take and just like his industry peers, he has also painted an optimistic picture, saying that there will be a reduction in jobs as we know but different types of jobs will be created that will require new sets of skills. “There will be jobs, the question is the shape of these jobs. If anything, these tools can be very helpful with getting us the skills for what is the new set of tasks,”Artificial Intelligence (AI) is considered to be one of the key developments of 2023 as tech honchos highlighted the positive impact of the technology across society. However, several C-suite executives, including OpenAI’s Sam Altman and Google CEO Sundar Pichai have hinted at job cuts, sugarcoating what’s to come. Microsoft CEO Satya Nadella has shared his take and just like his industry peers, he has also painted an optimistic picture, saying that there will be a reduction in jobs as we know but different types of jobs will be created that will require new sets of skills.“There will be jobs, the question is the shape of these jobs. If anything, these tools can be very helpful with getting us the skills for what is the new set of tasks,” he said at London’s Chatham House, a day before heading to Davos for the World Economic Forum.“Everyone can become an expert in anything because they have an AI assistant,” he added.His comments came soon after the International Monetary Fund (IMF) said that AI is set to affect nearly 40% of all jobs, with IMF’s managing director Kristalina Georgieva adding that “in most scenarios, AI will likely worsen overall inequality”. Nadella on use cases of AINadella also said that generative AI products like ChatGPT should be welcomed as they disrupt how people get access to information.“Let’s face it, there’s a real aggregation power in a few places, right? Search is one. News feeds is another. Both of these things could be up for disruption,” Nadella said, adding that as a result, journalists and publishers “should welcome” generative AI, as per a report by Politico.Recently, The New York Times filed a lawsuit against both OpenAI and Microsoft accusing the companies of copyright infringement. It said that the outlet’s journalistic content was used to train models underlying the ChatGPT AI chatbot.  

Dakar 2024 Result: Harith Noah Wins in Rally 2 Class, Hero MotoSports Makes History

The 2024 Dakar Rally was a great event that came to a close. After years of KTM domination, Honda finally won the Dakar Rally, with Hero MotorSports finishing in second place, just behind the KTMs. It is worth mentioning that Harith Noah won the Rally 2 class, which was a significant milestone for India in the Dakar Rally.The short 175km special stage of the day was all KTM, as the brand was on full display with a 1-2 podium finish. Toby Price won the stage, with defending champion Kevin Benavides in hot pursuit. But the overall winners were decided over the previous days, and Honda's Ricky Brabec was in the lead from the start. For a short time, Hero's Ross Branch was the race leader. After Benevides and Price of KTM crossed the finish line first and second, Adrien Van Beveren of KTM took third.As the only manufacturer entered in the Rally 2 class of this year's Dakar Rally, Harith Noah—supported by TVS—and Sherco were the only competitors to stand out. After finishing the most recent stage in eleventh place, the Indian rider won the Rally 2 class overall. Even in the overall standings, Noah's performance was remarkable. He finished the 2024 Dakar Rally in eleventh place, making history as the first Indian to ever win a stage, finish on the podium, and finish in the top fifteen.Noah showed resiliency by overcoming health issues in the first week and then picked up steam in the second week of the competition. His incredible jump from 18th to 13th place overall over the 48H Chrono Stage 6 is worth noting. Stage 8 and Stage 10, in which he twice set the fastest rally, were particularly impressive for his sustained growth.It's important to remember that RallyGP and Rally 2 are two separate classes. Only highly experienced racers who have been accepted by the FIM Championship Committee based on their sports credentials are allowed to compete in the RallyGP class. Rally 2 offers a more welcoming environment for riders from various backgrounds since it is available to anyone who isn't already in the RallyGP riders' registration.Despite finishing ten minutes and fifty-three seconds behind winner Ricky Brabec, Hero MotoSports' Ross Branch managed an outstanding second-place finish in the 2024 Dakar Rally. Hero MotoSports has achieved a remarkable feat, becoming the first Indian team to secure a podium place in the esteemed race.By the end of the sixth stage of the 2024 Dakar Rally, three of Hero's four riders had pulled out due to the extreme difficulties they had encountered. Ross Branch was the sole Hero MotoSports competitor in Dakar 2024, despite the team's other three riders withdrawing: Joaquim Rodrigues, Sebastian Buhler, and Joan Barreda Bort. Nevertheless, he quickly established himself as a strong candidate for the ultimate win.Branch won the first stage of the rally and remained in first place until the fifth stage. He showed his skill by finishing second in Stage 11 with the fastest time and then followed Honda's Ricky Brabec closely in the following stages.Ross Branch said: “Finally finished the Dakar!! It was a really tough Dakar 2024, and I'm so thrilled to be here! Finishing on the podium was always the goal, and today it's a dream come true. I'm really over the moon to achieve this goal for Hero. And a big thank you to the team for developing a highly competitive machine, for the sleepless 3 weeks here, and for everything they've sacrificed to reach to this point. I'm really proud of my team. We've got some more work to do to be on the next step, so we'll look forward to that in the next year. A big thank you to everyone for your continued support from all around the world!”With a ninth-place finish in the last 174-kilometre stage near Yanbu, the South African rider solidified his position as second overall. This incredible feat not only marks Branch's first podium finish at the Dakar, but it also marks the first podium for an Indian team in the history of the race.    

Hyundai Motor India Acquires GMs Talegaon Plant; to Invest Rs 6,000 Crore in Maharashtra

Hyundai Motor India Ltd. (HMIL), has acquired the Talegaon factory of General Motors India, located in Pune, Maharashtra. Following the fulfillment of specific requirements and obtainment regulatory clearance from the relevant government departments and stakeholders, the acquisition has been completed. Hyundai Motor India has also inked a formal Memorandum of Understanding (MoU) with the Maharashtra government. With this, it has pledged to spend Rs 6,000 crore in the state.  At the moment, the Talegaon factory produces 1,30,000 units per year. To reach its targets, the automaker plans to increase production capacity even further. HMIL states that the facility will be updated to meet the company's global manufacturing and operational needs. To achieve production excellence, investments will be undertaken in stages to gradually update the plant's existing infrastructure and equipment.Mr. Un Soo Kim, MD & CEO, of Hyundai Motor India Ltd., shared his thoughts on the acquisition and commented ''India is a very important market for Hyundai Motor Company, and we are committed to providing benchmark creating products & technologies to Indian customers. As we look forward to the next decade of progress for Hyundai Motor India, it is critical for us to augment our manufacturing capacity in India.''He further added ''The Talegaon manufacturing plant will play the role of a catalyst in achieving HMIL’s 1 million annual production capacity milestone. The acquisition of the Talegaon plant reinforces our commitment to ‘Atmanirbhar Bharat’ (Self-Reliant India), by making India a hub for advanced smart mobility solutions, Make-In-India for the world. Our manufacturing operations are scheduled to begin in Talegaon, Maharashtra in the year 2025.”With a starting price of Rs 10.99 lakh (ex-showroom), Hyundai launched the eagerly awaited Creta Facelift in India on January 16. Along with many interior upgrades and a new engine option, the facelift gives the car a more robust exterior look. Over 70 safety features—36 of which are standard—are included in the recently redesigned Creta. TPMS, electronic stability control, an all-wheel disc brake system, and six airbags are a few of them. The highest-spec versions come with 19 Level 2 ADAS features (Hyundai SmartSense).The 1.5-litre naturally aspirated (NA) and 1.5-litre CRDi diesel engine options for the SUV remain the same. However, a new 1.5-litre turbocharged GDi petrol engine is now offered as an option in this lineup. The new 1.5-litre turbocharged GDi petrol unit delivers 158bhp and 253Nm of performance numbers.    

Volvo’s 10,000th car in India is its first pure electric offering

Volvo Car India has achieved a significant milestone by producing its ten thousandth car at its Bangalore facility. The company, which began assembly operations in 2017, has seen the highest production of the XC60 model, with over 4000 units produced to date.Jyoti Malhotra, Managing Director of Volvo Car India, in a company statement, revealed that the honour of being the ten thousandth car produced goes to the XC40 Recharge, the company's first pure electric offering.Malhotra said, "It is indeed a matter of pride for the company to have reached this milestone in a short span of time in spite of nearly three years of pandemic disruptions."Gao Feng, Production Head of Volvo Car India, highlighted the plant's achievement of rolling out India's first domestically assembled electric vehicle (EV), the XC40 Recharge. Today, the company assembles all its models in India, including the XC90, XC60, S90, XC40 Recharge, and the recently launched C40 Recharge.Meanwhile, Volvo Car India announced a 2% price increase for its conventional engine vehicles on Monday, while the prices of its EV offerings remain unchanged.Following the price hike, the XC60 is priced at ₹68.9 lakh, the S90 at ₹68.25 lakh, and the XC90 at ₹1,00,89,000.However, the prices of the XC40 Recharge and C40 Recharge remain unchanged at ₹57.9 lakh and ₹62.95 lakh, respectively.    

Hyundai introduces ‘IONIQ 5 N NPX1’ concept with N Performance Parts

Hyundai Motor Company has unveiled the ‘IONIQ 5 N NPX1’, a concept model equipped with prototype N Performance Parts, at the Tokyo Auto Salon 2024. The ‘NPX1’ is the first N Performance Parts concept model based on the company’s high-performance electric vehicle (EV) IONIQ 5 N. The company plans to enhance the EV ownership experience with N Performance Parts, a project that began in 2019 and continues to develop high-quality tuning parts for customers. Following the success of internal combustion engine vehicles such as the Elantra N, i30 N, and i20 N, Hyundai N plans to offer specialised tuning components for all-electric N models, including the IONIQ 5 N.The ‘NPX1’ concept model previews a range of N-specific enhancements that will soon be available for purchase from a catalogue of N Performance Parts.These enhancements include a carbon front splitter, side skirts, rear diffuser, rear wing spoiler, lightweight hybrid carbon wheels, high-performance brake pads, and lowering springs. The concept model’s interior is further enhanced with Alcantara material and racing bucket seats.The prototype N Performance Parts applied to the NPX1 concept will be further developed for production in preparation for sales in 2024. Starting with the IONIQ 5 N, Hyundai N will expand the availability of N Performance Parts products for all N models.Joon Park, Vice President of N Brand Management Group at Hyundai, said, “In 2024, Hyundai Motor Company will take a step forward as a leader in new tuning parts suitable for the high-performance EV era as demonstrated with the ‘NPX1’ concept model.”He added that the company is also developing software customisation such as sound and vehicle calibration by over-the-air (OTA) updates, opening a completely new category of EV customisation for an exciting future for the tuning community.    

Tata Punch facelift launch confirmed for 2025

The Tata Punch petrol will see a mid-life facelift sometime next year. Confirming this development on the sidelines of the Punch EV launch, Tata Motors’ Passenger Vehicles Unit MD, Shailesh Chandra, said, “As far as the upgrade of the Punch is concerned, you know that it was launched in October 2021. Typical facelift period is three years. So, we should be expecting a facelift for the ICE version only in mid-2025, or slightly later.” Just like what we’ve seen on the Nexon and Harrier facelifts recently, expect Tata Motors to update the Punch SUV’s styling with fresh design cues to bring it in line with the newer Tata models. Changes to the front bumper and grille, along with minor tweaks to the headlamps and the bonnet can be expected to make the small SUV look new.Like the Nexon and the Nexon EV facelift, there will be styling bits that will help differentiate the petrol-powered Punch from the recently launched Punch EV. What’s more, Chandra also said that the Punch will have feature differences between the petrol and EV versions.   

Renault Bigster global debut later this year

The new Renault Bigster SUV will see a global debut later this year and is expected to go on sale internationally by early 2025. Revealed as a concept in 2021, it is essentially a three-row iteration of the all-new Duster, which made its global debut a few months ago.  Sources have conveyed to our friends at Motor1 Brazil that the Bigster SUV will share its design cues largely with the new Duster and the Bigster concept. Essentially, it will be most likely an elongated version of the Duster, similar to what we see with the Creta and Alcazar in India. There will, however, be styling, tech and equipment differences on the inside and out.  This new SUV from Renault will be around 4.6 metres long – nearly 0.3 metres longer than the new Duster, which measures 4.34 metres. It will get rugged looks and interior bits from the Duster, but there will be more upmarket materials and additional creature comforts to justify the SUV's higher price tag. The Duster currently has a 2,657mm wheelbase, which also could see an increment for the Bigster in order to facilitate easy ingress-egress and more cabin room. As far as the platform goes, the Bigster will share the same CMF-B modular architecture. There isn’t much known about its powertrain options, however, it will be safe to expect that the SUV will share its powertrain line-up with the latest-gen Duster, which comes with three engine options – two of which are electrified.  Starting the proceedings is the 1.6-litre four-cylinder petrol hybrid that gets two electric motors; this engine comes with an automatic gearbox. It also comes with regenerative braking and a 1.2kWh battery, enabling purely electric driving for up to 80 percent of the time in the city.The next engine is the 130hp, 1.2-litre three-cylinder turbo-petrol coupled with a 48V starter motor. While the Duster will also come with a 1.0-litre petrol-LPG option in some markets, there is no diesel option in any market right now. The next engine is the 130hp, 1.2-litre three-cylinder turbo-petrol coupled with a 48V starter motor. While the Duster will also come with a 1.0-litre petrol-LPG option in some markets, there is no diesel option in any market right now.  

Jawa Yezdi Motorcycles eyes ASEAN market for Jawa exports

The company has been exporting Jawa back to the Czech Republic-based JAWA Moto spol. S r.O. The successor to the original JAWA company using the trademark JAWA, which in turn sells the bikes mostly in Eastern Europe and the Czech Republic. Jawa Yezdi Motorcycles plans to start exports of Jawa brand of bikes in ASEAN countries in the next three to four months, a top company official said on Thursday. The company, which launched the new Jawa 350 priced at Rs 2,14,950 (ex-showroom Delhi), is also working to enhance its reach across India, especially in smaller cities targeting to open 750 outlets in the next 24 to 30 months, Jawa Yezdi Motorcycles CEO Ashish Singh Joshi told reporters in an interaction here. The company has been exporting Jawa back to the Czech Republic-based JAWA Moto spol. S r.O. The successor to the original JAWA company using the trademark JAWA, which in turn sells the bikes mostly in Eastern Europe and the Czech Republic. We also sell directly in Nepal and we have already opened operations in the Philippines, which will serve as the hub to sell in other ASEAN countries such as Malaysia, Vietnam and Thailand," Joshi said. This is likely to start in the next three to four months, he said.On export volumes, Joshi said it is not so large considering the company's focus has been on the Indian market.After making a comeback in India in 2018, the company has sold about 2 lakh units in total, out of which nearly 5,000 units have been exported.When asked about domestic plans, Joshi said Jawa Yezdi Motorcycles plans to bring in more models to add to the existing nine products in its stable at present without specifying details. Also, he said the company is on a network expansion journey to widen and deepen its presence across India. "We are looking to increase our outlets to 750 in the next 24 to 30 months from 423 at present," he said, adding that when the company started it was mainly in the metros and major cities.It has gradually entered smaller cities and towns and will continue to do so, while also increasing the number of outlets in cities where it already has a presence to deepen its presence, Joshi added.On the outlook, he said the company is looking at "double-digit" growth this year, having overcome the COVID-19 induced disruptions and supply chain issues."2024 is going to be the year of consolidation for us," he said, adding that the premium motorcycle segment in India has recovered while the entry-level motorcycle segment is also witnessing recovery.  

Toto Wolff Extends Contract With Mercedes For 3 More Years

Mercedes F1 team principal Toto Wolff signs a new three-year contract, extending his leadership until the end of 2026. The deal involves Wolff, INEOS owner Jim Ratcliffe, and Mercedes-Benz CEO Ola Kallenius.The contract excludes performance clauses.Mercedes Formula 1 team principal Toto Wolff has inked a new three-year contract, securing his leadership until at least the end of 2026, according to an exclusive interview with The Daily Telegraph. The deal involves Wolff, INEOS owner Jim Ratcliffe, and Mercedes-Benz CEO Ola Kallenius. Remarkably, the contract excludes performance clauses, emphasising trust between the parties and Wolff's commitment to achieving success rather than relying on specific track outcomes.Wolff, who owns 33 per cent of the team, clarified, "I've never had a performance clause; you either trust each other or you don't." The new agreement arises amid speculation about Wolff's position due to Mercedes' recent struggles in comparison to Red Bull's consecutive title wins. Despite external pressures, the contract demonstrates mutual confidence and a desire to navigate challenges as a united front. The lack of performance clauses aligns with Wolff's emphasis on stability and a long-term perspective. He believes that the absence of such conditions reinforces the shared goal of achieving a strong return on investment, which, in the context of Formula 1, translates to winning races and championships. His commitment extends beyond the team principal role, encompassing responsibilities as a co-shareholder and a member of the board.Reflecting on the risks associated with his role, Wolff expressed a concern for "bore-out" rather than burnout, indicating a preference for overcoming challenges and embracing difficulties rather than stagnating in a dominant position. The Mercedes team principal remains driven by the prospect of re-establishing the team's dominance in Formula 1.Wolff's new contract is significant not only for its duration but also for the absence of conditional performance metrics. It reflects a collective decision by the stakeholders to persist in their current roles and address the challenges that come with a downturn in the team's performance. The deal positions Wolff as a key figure in Mercedes' efforts to reclaim its leading position in Formula 1 and underscores the importance of trust and collaboration among the team's principal shareholders.In the larger context, the contract signals a commitment to stability, allowing Mercedes to navigate a transitional phase in Formula 1 and work towards regaining competitiveness. While the team faces uncertainties regarding the performance of the new Mercedes W15 car, Wolff's enduring leadership provides continuity and stability during a critical period.As Wolff embarks on the next three years, the focus will be on steering Mercedes back to the summit of Formula 1, where it enjoyed a dominant position for much of the past decade.  

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2024 Bajaj Chetak review, first ride 

Where every other electric scooter in the mainstream has aspired to carve a niche for itself in the market as a futuristic next-generation mobility solution, Bajaj has attempted to authentically replicate an experience in electric with their Chetak. The all-metal body, the rounded design and the minimal technological intervention. All of which meant that up until now the Chetak was left to an ever-diminishing demographic of people familiar with the original Chetak. For 2024, without really making too many big changes, Bajaj has upped their ante and expanded the reach of the updated bike to new demographics with a slight rejig of the equipment list.But before we jump into what's new. Let us talk about the design and build of the new Chetak for a second. The design hasn’t changed from the first generation of the Chetak. The rounded fascia with the round headlamp and the svelte body section set in an all-metal body make for a very premium-feeling scooter. It also gets all LED lighting as standard. However, while the build on the paint and the bodywork do feel premium, the plastics and the body mouldings do seem a little off-brand for the premium electric scooter. Switchgear, though, is a premium touch and feels solid, although we did notice a few times when buttons on the instruments would not respond momentarily. But before we jump into what's new. Let us talk about the design and build of the new Chetak for a second. The design hasn’t changed from the first generation of the Chetak. The rounded fascia with the round headlamp and the svelte body section set in an all-metal body make for a very premium-feeling scooter. It also gets all LED lighting as standard. However, while the build on the paint and the bodywork do feel premium, the plastics and the body mouldings do seem a little off-brand for the premium electric scooter. Switchgear, though, is a premium touch and feels solid, although we did notice a few times when buttons on the instruments would not respond momentarily.  

Hyundai Creta 2024 facelift vs Kia Seltos vs Maruti Suzuki Grand Vitara vs others: Price comparison

India Today was the first news organisation to confirm that Hyundai Motor India will launch the Hyundai Creta facelift in the country in 2024. We also maintained that the Hyundai Creta facelift price will range from Rs 11 lakh to Rs 20 lakh (ex-showroom). Well, it seems that we are bang on the target so far as the price of the vehicle is concerned.Among the other rivals, the Elevate's price ranges from Rs 11.58 lakh to Rs 16.40 lakh (ex-showroom), the Urban Cruiser Hyryder's price from Rs 11.14 lakh to Rs 20.19 lakh (ex-showroom), that of the Kushaq from Rs 11.89 lakh to Rs 20.49 lakh (ex-showroom), the price of the Taigun from Rs 11.70 lakh to Rs 20 lakh (ex-showroom) and the Astor from Rs 9.98 lakh to Rs 17.90 lakh (ex-showroom). In the ever-evolving landscape of the automotive industry, the SUV segment continues to witness fierce competition with manufacturers constantly upgrading their models to meet the changing preferences of consumers. In this comparison, we will focus on the recently launched Hyundai Creta 2024 facelift, the popular Kia Seltos, the established Maruti Suzuki Grand Vitara, and a few other noteworthy contenders. Let’s delve into the key aspects, specifications, and prices to help you make an informed decision.The Hyundai Creta 2024 facelift arrives with refreshed aesthetics and upgraded features. Packed with cutting-edge technology, the Creta continues to be a strong contender in the compact SUV segment. The price for the base variant starts at $XX,XXX, making it a competitive option in its class.The Kia Seltos, known for its stylish design and feature-packed interior, remains a top choice for SUV enthusiasts. With a starting price of $XX,XXX, the Seltos offers a compelling mix of performance and comfort. Its diverse range of engine options and trim levels allows buyers to tailor their purchase according to their preferences.    

JLR India launches Discovery Sport 2024 at Rs 67.90 lakh

JLR India today launched the Discovery Sport 2024 in the country at a starting price of Rs 67.90 lakh (ex-showroom). The 2024 model comes with a price cut of Rs 3.49 lakh over the 2023 model.The Discovery Sport 2024 is available in Dynamic SE with two engine options - 2.0-litre petrol (245hp and 365Nm) and 2.0-litre Ingenium diesel (201hp and 430Nm). Both engines are mated to an automatic transmission. The new Discovery Sport gets subtle exterior updates. There is a contrast roof and exterior accents, including Discovery script, grille, lower body sills and lower bumpers, all having a distinctive Gloss Black finish. There is Gloss Black front claw detailing on the bumpers and wheel arches. There are 19-inch diamond-cut alloys. The SUV also gets a new Varesine Blue exterior paint option.JLR India today launched the Discovery Sport 2024 in the country at a starting price of Rs 67.90 lakh (ex-showroom). The 2024 model comes with a price cut of Rs 3.49 lakh over the 2023 model. JLR India today launched the Discovery Sport 2024 in the country at a starting price of Rs 67.90 lakh (ex-showroom). The 2024 model comes with a price cut of Rs 3.49 lakh over the 2023 model.The new Discovery Sport gets subtle exterior updates. There is a contrast roof and exterior accents, including Discovery script, grille, lower body sills and lower bumpers, all having a distinctive Gloss Black finish. There is Gloss Black front claw detailing on the bumpers and wheel arches. There are 19-inch diamond-cut alloys. The SUV also gets a new Varesine Blue exterior paint option.You now get a digital instrument cluster and steering wheel-mounted gearshift paddles as standard, while the redesigned centre console boasts a new floating 11.4-inch curved glass touchscreen. The latest Pivi Pro infotainment set-up features permanently accessible sidebars, which provide shortcuts to key vehicle controls and functions, such as media, volume, climate and navigation. There is a panoramic glass roof as well.The SUV has wireless Apple CarPlay and Android Auto as standard and a wireless charger. A natural shadow oak trim finisher surrounds a new gear shifter. Discovery Sport Dynamic SE features DuoLeather interiors with up to two colour options.    

Assam govt threatening people not to join Cong yatra, says Rahul Gandhi

Congress leader Rahul Gandhi on Sunday alleged that Assam's BJP-led government has been threatening people against joining the Bharat Jodo Nyay Yatra, and refusing permissions for programmes along its route.People, however, are not afraid of the BJP, Gandhi asserted at a public gathering in Biswanath Chariali, the headquarters of Biswanath district.He also said the Congress will win by a huge margin against the BJP in the upcoming elections."We don't make long speeches as part of the yatra. We travel every day for 7-8 hours, talk to delegations, meet people and listen to their issues. And then, we fight for your issues; that is the aim of this yatra."When elections come, Congress will defeat BJP by massive margins," Gandhi asserted, urging party workers to march forward despite being threatened, and beaten up, as the fight is for the people.The yatra is in its fourth day in the state, having re-entered after a night halt in Arunachal Pradesh. It is scheduled to travel through Assam till January 25, covering a total of 833 km across 17 districts.Gandhi also alleged that flags and banners of the Congress are being damaged in the state."They (government) think they can threaten the people and suppress them. But, they are not realising this is not Rahul Gandhi's yatra. It is a yatra for the voice of the people," he said."Neither Rahul Gandhi nor people of the state are afraid of them," the former Congress chief said.He continued to target Assam Chief Minister Himanta Biswa Sarma, terming him as the most corrupt CM in the country."Everyone knows that the CM and his entire family are the most corrupt. The Assam government is run for the benefit of one family... the Congress MP alleged.He said that injustice was being done to farmers, who don't get the price for their produce, youths who don't find jobs after finishing studies and traders who bore the brunt of demonetisation and GST.  

Budget 2024-25: Govt may increase capex to propel economic growth

With private investment still muted, the government is likely to maintain its momentum on increasing capital expenditure, especially for the infrastructure sector in the upcoming Budget to propel economic growth.Post Covid-19, the Budget has been laying special emphasis on capex. It has kick-started a dormant cycle for the economy. As a result India has witnessed over 7 per cent growth in the last three years, the highest among the large economies of the world. During the current financial year, the government has made a record high provision of Rs 10 lakh crore towards capex. During 2020-21, the government earmarked Rs 4.39 lakh crore which increased by 35 per cent to Rs 5.54 lakh crore in the subsequent year.Another 35 per cent hike in capex was done in 2022-23 to Rs 7.5 lakh crore which subsequently reached a high of Rs 10 lakh crore, an increase of 37.4 per cent.In the upcoming Budget too, the government is expected to earmark a large amount towards capex as such investment has a multiplier effect on the economy and it also crowds in private investment."We estimate Government of India to budget for a capex of Rs 10.2 lakh crore in FY25, implying a relatively sedate YoY expansion of about 10 per cent, compared to over 20 per cent expansion seen in each of post-COVID years. The slowdown in capex growth is likely to have some bearing on economic activity and GDP growth," Icra said in its pre-Budget expectations.  The capex rose by 31 per cent to Rs 5.9 lakh crore in April-November of the current fiscal (58.5 per cent of FY2024 BE) from Rs 4.5 lakh in April-November FY23 (60.7 per cent of FY23 Prov).While the growth remained high, capital spending contracted in October 2023 (-14.9 per cent; first instance of contraction since April 2023) and then rose by a marginal 1.6 per cent in November 2023. Moreover, it has averaged at Rs 73,210 crore/month, 12.2 per cent lower than the required monthly average of Rs 83,400 crore to meet the budgeted target of Rs 10 lakh crore.India is a hugely infra deficit country and heavy lifting in this regard is being done by the government which crowds in private investment. With the growth in the economy, there has been a pick-up in private investment in recent times in some of the sectors like steel, cement and petroleum sector.According to Emkay Global Financial Services head research Seshadri Sen, capex by the government would continue and it will happen at a faster pace.The capex would help unlock the virtuous cycle. Investment leading to productivity growth, job creation, demand and exports feed into each other and enable animal spirits in the economy to thrive.  

Sensex, Nifty tick higher after a 3-day drop; IRFC, Network 18 jump up to 5%

The 30-share BSE Sensex surged 635 points or 0.89 per cent to trade at 71,822, while the NSE Nifty was up 169 points or 0.79 per cent to trade at 21,631. Indian equity benchmarks were up in Friday's early trade following a three-day losing streak, led by gains across all sectors. The 30-share BSE Sensex surged 635 points or 0.89 per cent to trade at 71,822, while the NSE Nifty was up 169 points or 0.79 per cent to trade at 21,631. Broader markets (mid- and small-cap shares) were positive as Nifty Midcap 100 rose 0.83 per cent and small-cap gained 0.95 per cent. On the global front, Asian markets opened higher, tracking an overnight rise in Wall Street equities.Back home, foreign institutional investors (FIIs) sold Rs 9,901.56 crore worth of shares on a net basis during the previous session, while domestic institutional investors (DIIs) bought Rs 5,977.12 crore worth of shares, exchange data showed.   All the 15 sector gauges -- compiled by the NSE -- were trading in the green. Sub-indexes Nifty Financial Services and Nifty IT were outperforming the NSE platform by rising as much as 1.01 per cent and 1.22 per cent, respectively.On the stock-specific front, Tech Mahindra was the top gainer in the Nifty pack as the stock soared 2.74 per cent to trade at Rs 1,392.3. Wipro, Coal India, HCL Tech and TCS rose up to 1.92 per cent. In contrast, IndusInd Bank was the top loser on Nifty50.   The overall market breadth was strong as 2,411 shares were advancing while 400 were declining on BSE.On the 30-share BSE index, ICICI Bank, HDFC Bank, Infosys, TCS, Axis Bank, ITC, L&T, Airtel and Titan were among the top gainers.Also, BSE 500 stocks such as IRFC, Network18, Home First Finance, IndiaMART, Poonawalla Fincorp, HUDCO and ITI moved up to 5.33 per cent higher. On the other hand, Shoppers Stop, Metro Brands, Dixon Technologies, Polycab India, ZEE, Cholamandalam Finance and Alembic Pharma slipped up to 3.78 per cent.    

Paytm Credit Card on UPI enables effortless daily transactions like payments on grocery stores, chai shops

With just a smartphone, users can easily make UPI payments via credit cards on the Paytm app, powered by Paytm Payments Bank. The convenience of digital transactions have become a fundamental aspect of our daily lives in today’s fast paced world. One such transformative force in the digital payment landscape is the integration of UPI payments through credit cards on the Paytm app. Making small payments of ₹10 to ₹100 bucks through credit at your nearby Kirana stores or a local chai shop or even a chat shop has evolved into the ultimate and convenient payment method for users. This groundbreaking feature offers users the convenience of utilizing credit for routine payments, eliminating the need to rely solely on savings accounts and carrying the card everywhere. With just a smartphone, users can easily make UPI payments via credit cards on the Paytm app, powered by Paytm Payments Bank.   Users simply need to link their Rupay Credit Card to UPI through a straightforward process with quick and easy steps. The Credit Card on UPI feature allows users to scan merchant QR codes, allowing them to earn reward points with every transaction.With millions of merchants now accepting payments via credit cards on UPI, this can have a significant impact on the payment landscape.   This integration of RuPay Credit Cards on UPI not only expands credit card usage for customers but also supports merchants in the credit ecosystem through assets like QR codes. The increasing acceptance of RuPay credit cards on UPI contributes to financial inclusion, benefiting merchants and businesses across India.  Paytm Payments Bank remains at the forefront of innovation, driving the adoption of UPI payments with credit cards, and envisions a future where this technology reshapes the dynamics of the payment ecosystem in India.  

Delhi-NCR stays in fog grip: Many trains, flights delayed, no respite till Jan 21

Dense to very dense fog and cold day to severe cold day conditions are likely to continue to prevail over North for the next 2 days (Jan 21) and then decrease in intensity.Fog update: Respite will have to wait for several parts of North India reeling under chilling cold wave conditions along with dense fog that has disrupted rail and air traffic for the past few weeks. Maximum temperatures have dropped below normal by 5-8 degrees Celsius since December. There was a brief respite on January 7 and 8, owing to a passing western disturbance but cold conditions returned from January 9.  Dense to very dense fog and cold day to severe cold day conditions are likely to continue to prevail over North for the next 2 days (Jan 21) and then decrease in intensity. Cold wave and dense fog conditions are likely to prevail over Delhi, Punjab, Haryana, Chandigarh and Uttar Pradesh and Rajasthan and at isolated places over Himachal Pradesh, and Uttarakhand, according to the forecast by the India Meteorological Department (IMD)."Dense to very dense fog at a few places in Punjab, Haryana, Chandigarh, Delhi, Uttar Pradesh and Rajasthan and at isolated places over Himachal Pradesh, and Uttarakhand," the weather department said."Cold day to severe cold day conditions at a few places in Uttar Pradesh and Rajasthan and at isolated places in Himachal Pradesh, Uttarakhand, Punjab and Haryana.   Cold wave to severe cold wave conditions at a few places in Punjab, Haryana, Chandigarh and at isolated places in Himanchal Pradesh. Ground frost at isolated places in Himachal Pradesh and Uttarakhand," it added. The early-morning foggy weather in Delhi and adjoining areas has significantly impacted road, rail, and air traffic over the past several days. On Friday, at least 22 trains from various parts of the country were running late, and several flight operations were delayed at Delhi's Indira Gandhi International (IGI) airport due to low visibility amid the fog.According to the weather department, minimum temperatures are in the range of 3-6 degrees Celsius over many parts of Punjab and some parts of Haryana-Chandigarh; in the range of 7-10 degrees Celsius over most parts of Delhi, Uttar Pradesh, Rajasthan, north Madhya Pradesh and Bihar.These are below normal by 1 degree to 3 degrees Celsius over many parts of Punjab, Haryana-Chandigarh-Delhi and West Uttar Pradesh and in isolated pockets of Rajasthan.  

Removing layers: Sundar Pichai hints at more layoffs at Google in 2024

A day after laying off around 1,000 employees, Google chief executive officer (CEO) Sundar Pichai, on Wednesday, hinted towards more job cuts in the year ahead, The Verge reported. Terming it as part of a larger restructuring plan, Pichai, in an internal memo to Google employees, said, "We have ambitious goals and will be investing in our big priorities this year…the reality is that to create the capacity for this investment, we have to make tough choices."Referring to the "tough decisions", Pichai further said in the memo, "These role eliminations are not at the scale of last year's reductions and will not touch every team. His remark referenced Google's 2023 layoffs when the tech giant fired about 12,000 employees, the biggest layoff in the company's history in a single year.According to the report, Pichai said the layoffs this year were about "removing layers to simplify execution and drive velocity in some areas."Pichai's communication followed a day after Google handed pink slips to around 1,000 employees in the advertising sales team in the first layoff wave of 2024. The company said the eligible employees would receive severance pay. It also offered that the impacted employees may re-apply for open positions in other departments. However, it clarified that those unable to secure a position at the company would be required to exit by April. The developments followed about a week after Google had announced that it would lay off hundreds of people working on its voice-activated Google Assistant software and the company's Devices and Services team.Apart from Google, Jeff Bezos' Amazon also announced last week that it would fire several hundred employees in its streaming and studio operations.Neither company has specified the exact number of job role cuts they are planning in 2024.