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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Source: Live Mint
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