India Unveils Comprehensive Senior Care Policy in Upcoming Budget, ISRO’s Autonomous Landing Success, and More.

India to Unveil Comprehensive Senior Care Policy in Upcoming Budget

India plans to introduce extensive measures for senior care in the upcoming budget. The policy aims to expand Ayushman Bharat for senior citizens, revise pensions under the Indira Gandhi scheme, and bolster healthcare through NPHCE. The plan also involves collaboration with the private sector for targeted health insurance and developing elderly housing. NITI Aayog estimates India’s elderly population will reach 319 million by 2050, necessitating robust support systems.

Understanding Ayushman Bharat PM Jan Arogya Yojana

Ayushman Bharat PM Jan Arogya Yojana is a flagship health initiative in India, providing free healthcare to economically disadvantaged families. It covers hospitalization expenses for secondary and tertiary care, including surgeries and treatments. The scheme aims to reduce out-of-pocket medical expenses and improve access to quality healthcare for over 100 million families.

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Source: Economic Times

ISRO Achieves Milestone with Autonomous Landing of Reusable Launch Vehicle

ISRO successfully completed the RLV LEX-03 mission, showcasing the autonomous landing of the Reusable Launch Vehicle (RLV) under challenging conditions. Released from an altitude of 4.5 km by an Indian Air Force Chinook, “Pushpak” executed precise horizontal landing and cross-range corrections. This achievement bolsters ISRO’s capabilities for future orbital re-entry missions, validating advanced guidance algorithms crucial for reusable space technology development.

Understanding Reusable Launch Vehicles (RLVs)

Reusable Launch Vehicles (RLVs) are designed to return to Earth after delivering payloads to space, allowing for their reuse in subsequent missions. This technology reduces launch costs and enhances sustainability in space exploration. RLVs feature advanced autonomous landing systems, guidance algorithms, and robust structures to withstand multiple launches and re-entries.

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Source: Business Today

MDL in Final Stages of ₹35,000 Crore Kalvari Submarine Deal with Defence Ministry

Mazagon Dock Shipbuilders Limited (MDL) is in advanced talks with India’s Defence Ministry for a ₹35,000 crore deal to build three advanced Kalvari-class submarines. These submarines will feature enhanced electronics and propulsion systems, with 60% indigenous content. The project, expected to create 5,000 jobs, aims to bolster India’s underwater capabilities and ensure significant technology transfer for future indigenous submarine development.

Understanding Kalvari-Class Submarines

Kalvari-class submarines, also known as Scorpene-class, are advanced diesel-electric attack submarines designed for stealth and endurance. Equipped with state-of-the-art electronics, propulsion systems, and weaponry, they are capable of long-range operations, including strategic missions as far as Australia. These submarines are a crucial component of India’s naval modernization efforts, emphasizing indigenous production and technological self-reliance.

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Source: Economic Times

GST Council Meeting Ends with No Relief for Online Gaming Industry

The GST Council meeting concluded without addressing the 28% GST on online gaming, leaving the industry in uncertainty. Finance Minister Nirmala Sitharaman confirmed the issue was not discussed. The Council focused on other clarifications, such as excluding ENA for alcoholic beverages from GST. The heavy taxation on online gaming remains a concern, with potential recourse now resting on a forthcoming Supreme Court judgment.

Understanding GST on Online Gaming

Goods and Services Tax (GST) is a unified tax system in India, covering most goods and services. For online gaming, the current GST rate is 28%, applied to the entire transaction value. This rate has faced criticism for being excessively high, potentially stifling industry growth. The debate continues on whether GST should be applied only to the platform’s earnings rather than the total transaction value.

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Source: Business Today

Govt Considers New Bank for MSMEs to Boost Credit Flow

The Indian government is mulling the creation of a new bank to provide direct lending to MSMEs, aiming to close a ₹25 trillion credit gap and enhance economic activity and job creation. Currently, SIDBI primarily offers refinance options, but MSME credit penetration remains low at 14% compared to 50% in the US and 37% in China. This initiative could significantly support the 64 million MSMEs contributing 27% to India’s GDP.

What is MSME?

MSME stands for Micro, Small, and Medium Enterprises. These are businesses with investments and turnover within defined limits, categorized to support sector-specific policies and incentives. MSMEs play a crucial role in economic development, job creation, and industrialization. They face unique challenges such as access to finance, technology, and markets, necessitating specialized support mechanisms.

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Source: Financial Express

Nifty50 Target Raised to 26,500 for December 2025

Geojit Financial Services has upgraded the Nifty50 target to 26,500 by December 2025, citing stable earnings growth and economic performance. Despite recent underperformance compared to Taiwan, the US, Japan, and Germany, India’s market outlook remains positive due to strong mid and small-cap stocks, reduced FII outflows, and robust GDP growth, which reached over 8.2% in FY24. Nifty50 is expected to return 12-15% annually, driven by anticipated economic stability and earnings growth.

What is Nifty50?

Nifty50 is an index representing the top 50 companies listed on the National Stock Exchange (NSE) of India. It is widely used as a benchmark to gauge the performance of the Indian equity market. The index includes companies from various sectors, reflecting the overall economic health and investor sentiment in India.

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Source: Live Mint

Simplifying GST: Advocating for a Unified Tax System

Reforming India’s GST structure by adopting the KISS principle is critical. Sin taxes and multiple slabs create complexity and hinder economic growth. A simplified system with just two categories—zero tax and a single low tax rate for all other goods—could boost compliance and ease of doing business. This reform would support economic growth, create jobs, and increase tax collection by making the rich and upper-middle class spend more.

What is GST?

GST, or Goods and Services Tax, is a comprehensive, multi-stage, destination-based tax levied on every value addition. It aims to simplify India’s tax system by unifying various indirect taxes into a single tax structure, making it easier for businesses to comply and for the government to administer.

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Source: Economic Times

AI-Backed Care Poised to Transform Chronic Disease Management

Apollo Health & Lifestyle is leveraging AI and digital tools to revolutionize chronic disease management and diagnostics. CEO Sriram Iyer highlights the company’s ‘digital first’ ethos, with technologies like AI-based prediction tools and integrated CRM systems enhancing preventive care. Apollo aims to double its diagnostic labs to 400 and expand to 100-150 new towns. Utilizing Oracle’s Fusion Cloud ERP, Apollo enhances operational efficiency and data-driven decision-making to support its rapid growth.

What is AI in Healthcare?

AI in healthcare involves the use of machine learning algorithms and software to analyze, predict, and provide insights from complex medical data. This technology can improve diagnostics, personalize treatment plans, and enhance preventive care, leading to more efficient and effective healthcare delivery.

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Source: Financial Express

Boosting Solar Energy: Rs 10,000 Crore Allocated Under Pradhan Mantri Suryodaya Yojana

The Indian government has announced a Rs 10,000 crore allocation for the Pradhan Mantri Suryodaya Yojana, aiming to install rooftop solar systems in one crore households. Finance Minister Nirmala Sitharaman highlighted the benefits in her interim Budget speech, stating that households will save up to Rs 18,000 annually through free solar electricity. The initiative targets the installation of 40,000 MW of rooftop solar capacity by 2026.

What is Rooftop Solarization?

Rooftop solarization involves installing solar panels on residential rooftops to generate electricity. This method harnesses sunlight to produce power, reducing dependence on traditional energy sources and cutting electricity bills. It also allows households to sell surplus power back to the grid. By adopting rooftop solar, homes contribute to sustainable energy solutions, enhancing self-reliance in the energy sector.

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Source: Financial Express

Apple Delays European AI Features Launch Due to EU Tech Rules

Apple has postponed the European release of three new AI features due to regulatory concerns linked to the EU’s Digital Markets Act (DMA). The delayed features include Phone Mirroring, SharePlay Screen Sharing Enhancements, and Apple Intelligence, which uses AI to generate content. Apple cited interoperability requirements that may compromise user privacy and data security. The company is working with the European Commission to find a solution.

What is the Digital Markets Act (DMA)?

The Digital Markets Act (DMA) is EU legislation aimed at promoting fair competition and preventing large tech companies from monopolizing the market. It enforces interoperability requirements, ensuring that different tech platforms can work together smoothly. However, these requirements can raise concerns about user privacy and data security. Companies like Apple must comply with DMA regulations to operate in the EU.

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Source: Business Today

PM Modi May Skip SCO Summit Amid Strained China Ties

Prime Minister Narendra Modi might not attend the July 3-4 Shanghai Cooperation Organisation (SCO) Summit in Astana due to strained relations with China and the start of the new Parliament session. External Affairs Minister S Jaishankar may represent India instead. The decision follows a series of diplomatic tensions, including India’s restrictions on visas for Chinese professionals and unresolved border issues in Ladakh.

What is the Shanghai Cooperation Organisation (SCO)?

The Shanghai Cooperation Organisation (SCO) is a Eurasian political, economic, and security alliance founded in 2001 by China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan. It aims to promote cooperation in various fields, including counterterrorism, economic development, and cultural exchange. The SCO focuses on regional stability and addressing security challenges, particularly in Central Asia.

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Source: Economic Times

Morgan Stanley Projects 15.3% CAGR in Indian Infrastructure Investments Over Next Five Years

Morgan Stanley forecasts a 15.3% compound annual growth rate (CAGR) in Indian infrastructure investments, predicting a total expenditure of $1.45 trillion by FY 2029. Infrastructure investment is expected to rise from 5.3% of GDP in FY 2024 to 6.5% by FY 2029. This surge will boost productivity and economic growth, with the PM Gati Shakti plan driving faster project execution and reducing costs.

What is CAGR (Compound Annual Growth Rate)?

CAGR stands for Compound Annual Growth Rate, which measures the mean annual growth rate of an investment over a specified period longer than one year. It provides a smoothed annual rate, helping investors understand the growth of their investments without the volatility of periodic returns.

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Source: Live Mint