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2 months ago | 
domain-b.com | Axel Miller |Kiron Kasbekar |Aniket Gupta
Following are the highlights of the Economic Survey 2024-25 presented by minister of finance and corporate affairs Nirmala Sitharaman in Parliament today: India’s real GDP and GVA grew at an estimated 6.4 per cent in FY25 (First Advance Estimate); Real GDP to grow at 6.3-6.8 per cent in FY26; Grassroots-level structural reforms and deregulation to boost medium-term growth potential and global competitiveness; Geo-economic fragmentation (GEF) replacing globalisation, leading to economic...
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2 months ago | 
domain-b.com | Axel Miller |Kiron Kasbekar |Aniket Gupta
India's economic growth, in terms of real gross domestic product (ie GDP at constant prices), is estimated at 6.4 per cent in FY25 (as per first advance estimates of national income), which is equal to an average for the past 10 years. Real gross value added (GVA) is also estimated to grow by 6.4 per cent FY25. Against this, the global economy on an average grew 3.3 per cent in 2023 against the IMF projection of 3.2 per cent growth in the next five years.
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2 months ago | 
domain-b.com | Axel Miller |Kiron Kasbekar |Aniket Gupta
The union government will invest Rs34,300 crore over the next seven years, to build a resilient value chain for critical mineral resources that are vital to fostering green technologies. The union cabinet also, on Wednesday, approved the launch of the National Critical Mineral Mission (NCMM) involving government spending of Rs16,300 crore and an estimated Rs18,000 crore investment by public sector undertakings (PSUs).
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2 months ago | 
domain-b.com | Axel Miller |Kiron Kasbekar |Aniket Gupta
The Indian government woke up to reality of its digital status, after a Chinese startup launched a low-cost foundational AI model, and has announced plans to build an Indian version of the Large Language Model (LLM) that would support artificial intelligence applications in India.
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2 months ago | 
domain-b.com | Axel Miller |Kiron Kasbekar |Aniket Gupta
The US Federal Reserve has decided to keep its policy rates unchanged, as the central bank saw no need for an immediate reduction in interest rates. Accordingly, the Federal Open Market Committee at its meeting on Wednesday decided to maintain the federal funds rate at the existing 4.25-4.50 per cent range. Chairman Jerome Powell said any decision on rate cuts would depend on incoming data on inflation and jobs.
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2 months ago | 
domain-b.com | Axel Miller |Kiron Kasbekar |Aniket Gupta
National Credit Guarantee Trustee Company Limited (NCGTC) will provide guarantee of up to 60 per cent to member lending institutions for extending capital credit to micro, small and medium enterprises, under a Mutual Credit Guarantee scheme approved by the government. Under the facility, announced in the 2024-25 budget, NCGTC will provide such guarantee for credit upto Rs100 crore to eligible MSMEs under MCGS-MSME for purchase of plant and machinery/equipment.
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2 months ago | 
domain-b.com | Axel Miller |Kiron Kasbekar |Aniket Gupta
Chinese tech company Alibaba on Wednesday released an improved version of its artificial intelligence model, Qwen 2.5, which, it claimed, is way ahead of AI startup DeepSeek’s top performing model V3, taking the technology war to China. In a post on WeChat, Alibaba’s cloud unit claimed that its `Qwen 2.5-Max’ outperformed DeepSeek’s V3 as well as the top open source models of OpenAI and Meta like GPT-4o and Llama-3.1-405B’ in benchmarks like Arena Hard, LiveBench, LiveCodeBench, GPQA-Diamond.
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2 months ago | 
domain-b.com | Axel Miller |Kiron Kasbekar |Aniket Gupta
Indian Space Research Organisation (Isro) today successfully launched the NVS-02 navigation satellite from India’s spaceport at Sriharikota, Andhra Pradesh. The GSLV-F15 rocket carrying the NVS-02 satellite lifted off from the second launch pad of the Satish Dhawan Space Centre SAHR at 6:23 am, successfully placing the satellite on a geosynchronous transfer orbit. This is the 100th launch from the spaceport and the 17th flight of the Geosynchronous Satellite Launch Vehicle (GSLV).
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2 months ago | 
domain-b.com | Axel Miller |Kiron Kasbekar |Aniket Gupta
DeepSeek, the Chinese AI startup that came out with an AI assistant that could more than match American AI models like ChatGPT, announced a temporary halt to user registrations following, what the startup said, a cyberattack and a sudden rush for registrations. In fact, the startup saw a rush of user registrations, leading to outages, after the model became the to-rated free-to-use AI assistant available on Apple’s App Store.
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2 months ago | 
domain-b.com | Axel Miller |Kiron Kasbekar |Aniket Gupta
Aditya Birla Group company UltraTech Cement, the country’s biggest cement manufacturer, is reported to be in talks to acquire Heidelberg Cement India Ltd, the India-listed business of German building materials company, Heidelberg Materials. Heidelberg Materials Group started operations in India in early 2006 with the acquisition of a controlling stake in Mysore Cements. It also formed a joint venture with Indorama Cement and later took control with full acquisition of the business by 2008.
