The 30-share BSE Sensex plummeted 2,222.55 points or 2.74% to settle at over a month's low of 78,759.40, marking its worst single-day retreat since June 4, 2024. Nifty also saw its worst single-day fall since June 4, 2024, when markets crashed more than 5% due to general election results.
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A majority of EV car owners want to go back to using petrol or diesel vehicles, according to a survey from Park+, which provides parking solutions in residential and commercial complexes in Indian cities.
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The Ministry of Finance has said in the Budget that Indians going abroad must get a tax clearance certificate from the Income Tax department. The proposal caused an outrage on social media, following which the ministry has clarified that the rule only applies to those accused of financial irregularities.
The single-day wipeout, following the announcement in the Union Budget, is being touted as the sixth-largest wealth depreciation ever observed across the world.
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Three employment-linked schemes were announced in the union budget as part of the Prime Minister’s package. These schemes will be based on enrollment in Employees' Provident Fund Organization (EPFO), focus on recognition of first-time employees, and support to employees and employers.
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Taking to X, the PM wrote, “The Economic Survey highlights the prevailing strengths of our economy and also showcases the outcomes of the various reforms our Government has brought."
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The projection in the Economic Survey is a tad lower than the Reserve Bank's growth estimates of 7.2%. However, major global agencies, including the International Monetary Fund (IMF) and Asian Development Bank, have projected the growth at 7%.
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