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RBI Governor Shaktikanta Das on Thursday announced MPC's accommodative stance, leaving repo rate, reverse repo rate, bank rate and MSF rate unchanged. The policy rate held its stance for the tenth consecutive time and was last revised on May 22, 2020 by the RBI.

RBI Guv announces unchanged rates, projects GDP growth at 7.8%

Harley-Davidson reported a sharp jump in revenue and an unexpected profit for the fourth quarter, boosted by price hikes and a shift toward sales of higher-margin touring and cruiser motorcycles, sending its shares up nearly 15%.

Harley-Davidson reports a sharp jump in revenue and unexpected profit for the fourth quarter

Indian government has rejected Tesla's request to reduce import duty for electric cars earlier its CEO Elon Musk he had requested Indian government to reduce import taxes on electric vehicles also making it clear that relaxations will not be provided to Tesla unless it starts manufacturing activities in India.

India rejects Tesla's request on Tariffs

Tesla said on Wednesday that California Department of Fair Employment and Housing (DFEH) intends to file lawsuit against the company for alleged recial discrimination and harassment at its factory in Fremont, California. The alleged misconduct took place between 2015 and 2019.

The electric-car maker said it will ask the court to pause the case once the state's civil rights regulator files its lawsuit.

Tesla said that despite several requests, the regulator declined to provide it specific allegations or the factual bases for its lawsuit.

In the past, the department has investigated claims by employees who believe they were discriminated against or harassed, but did not find any misconduct, Tesla said.

The department did not immediately respond to a Reuters request for comment.

The company has been fighting a series of lawsuits over allegations of racial discrimination and sexual harassment.

It was sued by two female employees last year, with both their lawsuits alleging a "hostile work environment" against women at the carmaker's factory in Fremont.

In October, a Black contract worker won a jury award worth $137 million over workplace racism against the company.

Subsequently, a proposal was approved by Tesla shareholders asking the company to publish a report on its diversity and inclusion effort.

(With inputs from agencies)

Tesla said on Wednesday that California Department of Fair Employment and Housing (DFEH) intends to file lawsuit against the company for alleged recial discrimination and harassment at its factory in Fremont, California.

Tesla said on Wednesday that California Department of Fair Employment and Housing (DFEH) intends to file lawsuit against the company for alleged recial discrimination and harassment at its factory in Fremont, California. The alleged misconduct took place between 2015 and 2019. The electric-car maker said it will ask the court to pause the case once the state's civil rights regulator files its lawsuit. Tesla said that despite several requests, the regulator declined to provide it specific allegations or the factual bases for its lawsuit. In the past, the department has investigated claims by employees who believe they were discriminated against or harassed, but did not find any misconduct, Tesla said. The department did not immediately respond to a Reuters request for comment. The company has been fighting a series of lawsuits over allegations of racial discrimination and sexual harassment. It was sued by two female employees last year, with both their lawsuits alleging a "hostile work environment" against women at the carmaker's factory in Fremont. In October, a Black contract worker won a jury award worth $137 million over workplace racism against the company. Subsequently, a proposal was approved by Tesla shareholders asking the company to publish a report on its diversity and inclusion effort. (With inputs from agencies)

Tesla says it faces lawsuit for discrimination, harassment in California factory

Reports in local Russian media said on Wednesday that Russia may become latest country to recognise and regulate cryptocurrency.&nbsp;

“The government and the Bank of Russia have agreed on a future regime for the circulation of cryptocurrencies in Russia. Before February 18, they will prepare a draft law on the circulation of digital currencies in the Russian Federation, in which cryptocurrencies are recognised as an analogue of currencies, and not digital financial assets,” said Russia paper Kommersant as reported by CNBC.

If true, this will be a marked departure from stance taken Russia's central bank which called for blanket ban on cryptocurrencies as late as last month.&nbsp;

If the law reported in Russian media is passed, reports say that only owning cryptocurrencies will be legalised in the country and not other activities.

Cryptocurrencies have had legal status in Russia since 2020. But payments using cryptocurrencies have not yet been authorised. Authorities in the country have in past expressed fears that cryptocurrencies may be used to fund illegal activities. Kommersant says that if a law is passed, it may come into force in latter half of 2022 or first half of 2023

However, the report suggests that transactions made using cryptocurrencies that amount to more than 600,000 rubles (about $8,000) may get declared illegal.

Reports in local Russian media said on Wednesday that Russia may become latest country to recognise and regulate cryptocurrency. “The government and the Bank of Russia have agreed on a future regime for the circulation of cryptocurrencies in Russia.

Reports in local Russian media said on Wednesday that Russia may become latest country to recognise and regulate cryptocurrency. “The government and the Bank of Russia have agreed on a future regime for the circulation of cryptocurrencies in Russia. Before February 18, they will prepare a draft law on the circulation of digital currencies in the Russian Federation, in which cryptocurrencies are recognised as an analogue of currencies, and not digital financial assets,” said Russia paper Kommersant as reported by CNBC. If true, this will be a marked departure from stance taken Russia's central bank which called for blanket ban on cryptocurrencies as late as last month. If the law reported in Russian media is passed, reports say that only owning cryptocurrencies will be legalised in the country and not other activities. Cryptocurrencies have had legal status in Russia since 2020. But payments using cryptocurrencies have not yet been authorised. Authorities in the country have in past expressed fears that cryptocurrencies may be used to fund illegal activities. Kommersant says that if a law is passed, it may come into force in latter half of 2022 or first half of 2023 However, the report suggests that transactions made using cryptocurrencies that amount to more than 600,000 rubles (about $8,000) may get declared illegal.

Russia may recognise cryptocurrency, likely to pass a law: Report

Luxury carmaker Porsche expects another record year for sales despite the global semiconductor chip shortage, its management said that it s confident about 2022 sales.

Porsche expects another record year for sales despite chip shortage

In signs of trouble for South Korean auto major Hyundai #BoycottHyundai was trending on Twitter in India. Now, this after some reports pointed out Hyundai Pakistan's social media handles put out very controversial tweets on Indian union territory of Jammu and Kashmir that angered the Indian netizens.

Hyundai Pakistan posts anti-India tweets, netizens slam South Korean giant

A new report has revealed that Nike and Amazon are weighing bids for fitness company Peloton.

As per the Wall Street Journal, representatives of both the company have been in touch with Peloton regarding potential offers.

"There's no guarantee the companies will follow through with an offer or that Peloton, which is working with its own advisers, would be receptive," the Journal reported.

<div class="videoWrapper trancodeVideo">"Should there be a transaction, it could be significant, given Peloton's market value of around $8 billion — down sharply from its high around a year ago of some $50 billion," it added.</div>

<div class="videoWrapper trancodeVideo">&nbsp;</div>

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<div class="videoWrapper trancodeVideo">&nbsp;</div>

<div class="videoWrapper trancodeVideo">Shares of the&nbsp;at-home fitness company jumped on Wall Street amid reports of the company's potential takeover.</div>

Peloton has been the target of an activist investor, Blackwells Capital, who is pushing for CEO John Foley to be fired and for the company to be sold.

It posted a YouTube tongue-in-cheek commercial to fire back at an episode of a "Sex and the City" reboot TV series that suggested the company's exercise bikes can be lethal.

<a href="https://www.wionews.com/entertainment/and-just-like-that-the-show-is-over-451225">Also read |&nbsp;'And Just Like That,' the show is over</a>

In a scene of the show, the fictional Mr. Big suffers a fatal heart attack after taking a Peloton bike class. The death of Big, played by actor Chris Noth, leaves a major character, actress Sarah Jessica Parker's Carrie Bradshaw, a widow.

The company benefited significantly from the pandemic restrictions of 2020 as gyms closed and people began to exercise at home.

The growth in the fitness band market has prompted tech giants such as Apple Inc and Samsung to introduce features for health tracking, including electrocardiograms and blood pressure sensors.

But Peloton Interactive Inc has struggled to adjust to easing Covid restrictions. Its shares fell more than 75 percent last year and almost 25 percent since January.

The company has tried to cushion the blow to its growth by cutting the price of its popular bike and ramping up its ad spending, but growth remains stagnant.

(With inputs from agencies)

A new report has revealed that Nike and Amazon are weighing bids for fitness company Peloton. As per the Wall Street Journal, representatives of both the company have been in touch with Peloton regarding potential offers.

A new report has revealed that Nike and Amazon are weighing bids for fitness company Peloton. As per the Wall Street Journal, representatives of both the company have been in touch with Peloton regarding potential offers. "There's no guarantee the companies will follow through with an offer or that Peloton, which is working with its own advisers, would be receptive," the Journal reported. "Should there be a transaction, it could be significant, given Peloton's market value of around $8 billion — down sharply from its high around a year ago of some $50 billion," it added. Shares of the at-home fitness company jumped on Wall Street amid reports of the company's potential takeover. Peloton has been the target of an activist investor, Blackwells Capital, who is pushing for CEO John Foley to be fired and for the company to be sold. It posted a YouTube tongue-in-cheek commercial to fire back at an episode of a "Sex and the City" reboot TV series that suggested the company's exercise bikes can be lethal. Also read | 'And Just Like That,' the show is over In a scene of the show, the fictional Mr. Big suffers a fatal heart attack after taking a Peloton bike class. The death of Big, played by actor Chris Noth, leaves a major character, actress Sarah Jessica Parker's Carrie Bradshaw, a widow. The company benefited significantly from the pandemic restrictions of 2020 as gyms closed and people began to exercise at home. The growth in the fitness band market has prompted tech giants such as Apple Inc and Samsung to introduce features for health tracking, including electrocardiograms and blood pressure sensors. But Peloton Interactive Inc has struggled to adjust to easing Covid restrictions. Its shares fell more than 75 percent last year and almost 25 percent since January. The company has tried to cushion the blow to its growth by cutting the price of its popular bike and ramping up its ad spending, but growth remains stagnant. (With inputs from agencies)

Nike and Amazon are weighing bid for fitness company Peloton: Report

Britain and South Korea will sign an agreement to reinforce pandemic-damaged supply lines for key products like semiconductors, with trade minister Anne-Marie Trevelyan due to host her counterpart Yeo Han-koo in London.

UK, South Korea to sign deal on supply chains

Asian share markets mostly eased on Monday after stunningly strong US jobs data soothed concerns about the global economy but also added to the risk of an aggressive tightening by the Federal Reserve.

Asia shares slip as US jobs data fears over global recovery

Facebook owner Meta Platforms shares plunge 26% late on Wednesday after the social media company posted a weaker-than-expected forecast, blaming Apple's privacy changes and increased competition for users from rivals like TikTok.

Meta shares plunge 26%, Facebook reports a decline in daily active users

The transition to electric vehicles will put around 73,000 jobs at risk in Italy, metal workers' unions and a lobby group said on Thursday, calling on the government to start discussions on measures to support the automotive industry.

Electric car transition puts over 70,000 jobs at risk in Italy

Meta's shares plummet 26% after Facebook reports a decline in daily active users

India's Finance Minister Nirmala Sitharaman stressed on Thursday (February 3) that Budget 2022 was not a populist exercise and the government had stability of the economy in mind and not&nbsp;electoral gains. She was speaking with WION's Editor-In-Chief Sudhir Chaudhary. Sitharaman present the union budget in Indian parliament on February 1.

India is entering the election season with state elections taking place in five states. The list includes Uttar Pradesh which is the most populous state in the country and commands great political might. Governments all over the world are viewed to be taking populist measures when elections are around the corner but Sitharaman stresses that this was not the case with Union Budget 2022.

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She said that the government focussed on long-term stability of the Indian economy. She said that Indian government was committed to develop the nation and create more jobs. She emphasised that the government was leaving no stone unturned to help poor Indians.

One of the major provisions in the budget was the government's decision to tax cryptocurrency gains. When she presented the budget in parliament, Nirmala Sitharaman announced a decision to tax gains from cryptocurrency investments at 30 per cent.

Also Read | <a href="https://www.wionews.com/opinions-blogs/decoding-how-rbis-digital-rupee-will-impact-the-indian-economy-449859">Decoding how RBI’s Digital Rupee will impact the Indian economy</a>

Speaking on the issue, Sitharaman said that cryptocurrency should be inclusive and that government backing was necessary for every currency to function transparently. She further said that explanations around cryptocurrencies should be crystal clear.

Admitting that making a union budget in pandemic era was challenge, she thanked Prime Minister Narendra Modi and people of the country for their co-operation. Sitharaman said that the PM was very active and had&nbsp;been taking note of situation across sectors of the economy&nbsp;

Government often received criticism from Opposition parties who say that it favours the rich but the finance minister strongly refuted these allegations and said that budget provisions had welfare of people in middle-class and poorer sections of the society in mind. She said that PM Modi himself had stressed that it was government's duty to look after the poor.

India's Finance Minister Nirmala Sitharaman stressed on Thursday (February 3) that Budget 2022 was not a populist exercise and the government had stability of the economy in mind and not electoral gains.

India's Finance Minister Nirmala Sitharaman stressed on Thursday (February 3) that Budget 2022 was not a populist exercise and the government had stability of the economy in mind and not electoral gains. She was speaking with WION's Editor-In-Chief Sudhir Chaudhary. Sitharaman present the union budget in Indian parliament on February 1. India is entering the election season with state elections taking place in five states. The list includes Uttar Pradesh which is the most populous state in the country and commands great political might. Governments all over the world are viewed to be taking populist measures when elections are around the corner but Sitharaman stresses that this was not the case with Union Budget 2022. × She said that the government focussed on long-term stability of the Indian economy. She said that Indian government was committed to develop the nation and create more jobs. She emphasised that the government was leaving no stone unturned to help poor Indians. One of the major provisions in the budget was the government's decision to tax cryptocurrency gains. When she presented the budget in parliament, Nirmala Sitharaman announced a decision to tax gains from cryptocurrency investments at 30 per cent. Also Read | Decoding how RBI’s Digital Rupee will impact the Indian economy Speaking on the issue, Sitharaman said that cryptocurrency should be inclusive and that government backing was necessary for every currency to function transparently. She further said that explanations around cryptocurrencies should be crystal clear. Admitting that making a union budget in pandemic era was challenge, she thanked Prime Minister Narendra Modi and people of the country for their co-operation. Sitharaman said that the PM was very active and had been taking note of situation across sectors of the economy Government often received criticism from Opposition parties who say that it favours the rich but the finance minister strongly refuted these allegations and said that budget provisions had welfare of people in middle-class and poorer sections of the society in mind. She said that PM Modi himself had stressed that it was government's duty to look after the poor.

India Union Budget 2022 was not made with elections in mind: Finance Minister Nirmala Sitharaman

The wealth of billionaires is increasing over the last two years. The sale of luxury and also super luxury brands has also registered astronomical growth. In the latest in the league is the super luxury sports car maker Ferrari that orders stretching into the year 2023 after having delivered a record number of cars last year.

Strong orders at Ferrari set to support growth after record 2021 sales

Facebook owner Meta Platforms shares plunged more than 20% late on Wednesday after the social media company posted a weaker-than-expected forecast, blaming Apple's privacy changes and increased competition for users from rivals like TikTok.

Meta shares plunge 20%, faces heat from Apple, TikTok

On Wednesday, Meta, Facebook's parent company, announced a gloomy mix of lower profits, fewer users and threats to its ad business that sent shares down by 22 per cent in after-hours trading.&nbsp;

As jittery markets punished pandemic-era darlings like Netflix for disappointing results, Meta also got a taste after its $10.3-billion quarterly profit and daily user growth failed to live up to expectations.

Also read |&nbsp;<a href="https://www.wionews.com/world/more-than-3000-personnel-face-getting-discharged-as-us-army-tightens-vaccine-mandate-rules-449993" hreflang="en">More than 3000 personnel face getting discharged as US Army tightens vaccine mandate rules</a>

These are the first results since the company changed its name to Metaverse in late October;&nbsp;both a move towards the metaverse vision and a departure from its scandal-prone social media empire.

Facebook reported about one million fewer daily users during the last two quarters of 2021 - a tiny drop in an app that has nearly two billion daily users, but an indication of stagnation nonetheless.

David Weiner, CFO, told analysts that global user growth was hindered by "headwinds," including growth disproportionately in Asia-Pacific during the pandemic, which has since slowed, and an increase in mobile data prices in India.

"In addition to these factors, we believe competitive services are negatively impacting growth, particularly with younger audiences," Weiner added.

Also read |&nbsp;<a href="https://www.wionews.com/world/wages-rise-at-fastest-pace-since-2002-as-inflation-continues-to-run-hot-448595" hreflang="en">Wages rise at fastest pace since 2002 as inflation continues to run hot</a>

Although the company faces numerous probes and complaints of abuse of dominance, its executives have repeatedly pointed to competition from TikTok as well as from other networks.

Analysts expected 1.95 billion daily active users on Facebook, but Meta reported 1.93 billion -- a key indicator of the growth trajectory for a company fueled by the people who choose to interact with its platforms.&nbsp;

Meta's fourth-quarter net profit was $10.3 billion, down eight per cent from last year, but the company made $33.67 billion in turnover, in line with its forecasts.

Meta attributed the disappointing performance to competition and supply chain difficulties faced by its customers, the advertisers.

Watch |&nbsp;Meta shares plunge 20%, faces heat from Apple, TikTok

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During after-hours trading, Meta's shares fell by 22 per cent to $250 at 0010 GMT.

Furthermore, the company said the ad targeting rules imposed by Apple last year hurt its financial results in the fourth quarter.&nbsp;

As part of a recent update to its mobile operating system, Apple required application publishers to ask permission before collecting data, much to the chagrin of companies like Meta that rely on this information to target ads.

On Wednesday, Meta, Facebook's parent company, announced a gloomy mix of lower profits, fewer users and threats to its ad business that sent shares down by 22 per cent in after-hours trading.

On Wednesday, Meta, Facebook's parent company, announced a gloomy mix of lower profits, fewer users and threats to its ad business that sent shares down by 22 per cent in after-hours trading. As jittery markets punished pandemic-era darlings like Netflix for disappointing results, Meta also got a taste after its $10.3-billion quarterly profit and daily user growth failed to live up to expectations. Also read | More than 3000 personnel face getting discharged as US Army tightens vaccine mandate rules These are the first results since the company changed its name to Metaverse in late October; both a move towards the metaverse vision and a departure from its scandal-prone social media empire. Facebook reported about one million fewer daily users during the last two quarters of 2021 - a tiny drop in an app that has nearly two billion daily users, but an indication of stagnation nonetheless. David Weiner, CFO, told analysts that global user growth was hindered by "headwinds," including growth disproportionately in Asia-Pacific during the pandemic, which has since slowed, and an increase in mobile data prices in India. "In addition to these factors, we believe competitive services are negatively impacting growth, particularly with younger audiences," Weiner added. Also read | Wages rise at fastest pace since 2002 as inflation continues to run hot Although the company faces numerous probes and complaints of abuse of dominance, its executives have repeatedly pointed to competition from TikTok as well as from other networks. Analysts expected 1.95 billion daily active users on Facebook, but Meta reported 1.93 billion -- a key indicator of the growth trajectory for a company fueled by the people who choose to interact with its platforms. Meta's fourth-quarter net profit was $10.3 billion, down eight per cent from last year, but the company made $33.67 billion in turnover, in line with its forecasts. Meta attributed the disappointing performance to competition and supply chain difficulties faced by its customers, the advertisers. Watch | Meta shares plunge 20%, faces heat from Apple, TikTok During after-hours trading, Meta's shares fell by 22 per cent to $250 at 0010 GMT. Furthermore, the company said the ad targeting rules imposed by Apple last year hurt its financial results in the fourth quarter. As part of a recent update to its mobile operating system, Apple required application publishers to ask permission before collecting data, much to the chagrin of companies like Meta that rely on this information to target ads.

Meta shares sink 22% as Facebook loses one million daily users

Maruti Suzuki largest car maker, Bajaj Auto second largest two-wheeler player, TVS they all shown a decline in sales but Mahindra and Hyundai recovered and recorded growth.

Maruti Suzuki, Bajaj, TVS show decline in sales

Starbucks will raise menu prices this year and reduce some spending to offset soaring costs for labor and goods, as rising COVID-19 cases prompted the coffee chain to lower estimates for profits this year.

Starbucks to hike prices to offset inflation

A union representing major US passengers and cargo carriers will tell US lawmakers tomorrow that it will likely take years to permanently address airplane interference issues which have been caused by deployment of 5g wireless connections.

US airline group warns on 5G interference

Nirmala Sitharaman presented her fourth Union Budget as India seeks a boost to its economy following a Covid-wrecking year.

India Union Budget 2022: As it happened

Indian Finance Minister Nirmala Sitharaman on Tuesday unveiled the budget for fiscal 2022-23. A one-year extension for the incentives provided to start-ups has been announced.

Start-ups can expect a big relief as government tax benefits for businesses that have received tax redemption for three consecutive years will be extended by one more year until March 31, 2022.

“Startups have emerged as a growth driver for the economy. Tax incentives for startups increased from three years to four years of incorporation, in view of the pandemic,” the minister said while announcing the Union Budget 2022.

Additionally, the minister proposed to extend the capital gains tax exemption for investments in start-ups by one year, to March 31, 2022.&nbsp;

“In order to incentivise startups in the country, I propose to extend the eligibility for claiming tax holiday for startups by one more year till March 31, 2022…In order to incentivise funding for the startups, I propose to extend the capital gains exemption for investment in startups by one more year till March 31, 2022,” Sitharaman said.

Additionally, she said start-ups would be supported to facilitate 'Drone Shakti' through various applications and drone subscription services

Introducing a new concept, she said that "startups will be promoted to facilitate Drone Shakti through varied applications and for a drone as a service."

Further, she announced that a fund would be raised under the co-investment model and facilitated through NABARD to finance start-ups for agriculture and rural enterprise that are relevant to value chains for farm products.&nbsp;

In addition, Sitharaman said that start-ups would support FPOs and provide technology to farmers.

Indian Finance Minister Nirmala Sitharaman on Tuesday unveiled the budget for fiscal 2022-23. A one-year extension for the incentives provided to start-ups has been announced.

Indian Finance Minister Nirmala Sitharaman on Tuesday unveiled the budget for fiscal 2022-23. A one-year extension for the incentives provided to start-ups has been announced. Start-ups can expect a big relief as government tax benefits for businesses that have received tax redemption for three consecutive years will be extended by one more year until March 31, 2022. “Startups have emerged as a growth driver for the economy. Tax incentives for startups increased from three years to four years of incorporation, in view of the pandemic,” the minister said while announcing the Union Budget 2022. Additionally, the minister proposed to extend the capital gains tax exemption for investments in start-ups by one year, to March 31, 2022. “In order to incentivise startups in the country, I propose to extend the eligibility for claiming tax holiday for startups by one more year till March 31, 2022…In order to incentivise funding for the startups, I propose to extend the capital gains exemption for investment in startups by one more year till March 31, 2022,” Sitharaman said. Additionally, she said start-ups would be supported to facilitate 'Drone Shakti' through various applications and drone subscription services Introducing a new concept, she said that "startups will be promoted to facilitate Drone Shakti through varied applications and for a drone as a service." Further, she announced that a fund would be raised under the co-investment model and facilitated through NABARD to finance start-ups for agriculture and rural enterprise that are relevant to value chains for farm products. In addition, Sitharaman said that start-ups would support FPOs and provide technology to farmers.

Indian Union Budget 2022: What the start-ups received from this year's budget

In order to provide equal treatment to both central and state government employees, Indian Finance Minister Nirmala Sitharaman, while presenting the Union Budget, proposed that the tax deduction limit should be increased from 10 per cent to 14 per cent on employer's contribution to the National Pension System (NPS) account of state government employees as well.&nbsp;

She further stated that this would help in enhancing the social security benefits of the state government employees and bring them to equivalence with the central government employees.&nbsp;

<a href="https://www.wionews.com/india-news/indian-union-budget-2022-startups-will-be-promoted-to-facilitate-drone-shakti-fm-nirmala-sitharaman-449441">Also read |&nbsp;Indian Union Budget 2022: Startups will be promoted to facilitate 'Drone Shakti': FM Nirmala Sitharaman</a>

Currently, the central government contributes 14 per cent of its employees' salary to the NPS. In the case of state government employees, it is only 10 per cent.

In the presence of PM Modi, FM Sitharaman presented the annual Union Budget for the year 2022-2023 in Parliament on Tuesday, February 1.&nbsp;In her opening remarks, Sitharaman said that India's growth is estimated to be at 9.2 per cent, which happens to be the highest among all large economies. As per the Finance Minister, this year's Union Budget seeks to lay the foundation and give a blueprint of the economy over 'Amrit Kal' of next 25 years - from India at 75 to India at 100.&nbsp;

Like last year, the budget was paperless. However, it will be available on an application named "Union Budget Mobile App".&nbsp;

In order to provide equal treatment to both central and state government employees, Indian Finance Minister Nirmala Sitharaman, while presenting the Union Budget, proposed that the tax deduction limit should be increased from 10 per cent to 14 per cent on employer's contribution to the National Pension System (NPS) account of state government employees as well.

In order to provide equal treatment to both central and state government employees, Indian Finance Minister Nirmala Sitharaman, while presenting the Union Budget, proposed that the tax deduction limit should be increased from 10 per cent to 14 per cent on employer's contribution to the National Pension System (NPS) account of state government employees as well. She further stated that this would help in enhancing the social security benefits of the state government employees and bring them to equivalence with the central government employees. Also read | Indian Union Budget 2022: Startups will be promoted to facilitate 'Drone Shakti': FM Nirmala Sitharaman Currently, the central government contributes 14 per cent of its employees' salary to the NPS. In the case of state government employees, it is only 10 per cent. In the presence of PM Modi, FM Sitharaman presented the annual Union Budget for the year 2022-2023 in Parliament on Tuesday, February 1. In her opening remarks, Sitharaman said that India's growth is estimated to be at 9.2 per cent, which happens to be the highest among all large economies. As per the Finance Minister, this year's Union Budget seeks to lay the foundation and give a blueprint of the economy over 'Amrit Kal' of next 25 years - from India at 75 to India at 100. Like last year, the budget was paperless. However, it will be available on an application named "Union Budget Mobile App".

Budget 2022: For parity between govt employees, tax deduction limit increased to 14%

Indian Finance Minister Nirmala Sitharaman on Tuesday unveiled the budget for fiscal 2022-23, which aims to boost growth amid continued disruption from COVID-19 and rising inflation.

While announcing the budget, the Indian FM talked about how the pandemic has affected the mental health of people and the steps being taken by the government to deal with this major side-effect of the pandemic.&nbsp;

She said that "the pandemic has accentuated mental health problems in people of all ages. To better the access to quality mental health counselling and care services, a National Tele Mental Health program will be launched."

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Further explaining the program, she explained that 23 nodal centres for telemedical mental health will be operated, with NIMHANS serving as the nodal centre. The International Institute of Information Technology, Bengaluru (IIIT) will provide technical support, she added.&nbsp;

Worldwide, mental health problems have been reported as a result of this global humanitarian crisis.

Several factors have contributed to a steep rise in depression and anxiety, including restrictions on social contact, lockdowns, economic insecurity, and school and business closures.

According to a study published in The Lancet medical journal in October, major depressive and anxiety disorders are increasing substantially, especially among women and youth.

In India, the prevalence of such disorders has increased by about 35%, according to the study.&nbsp;

In 2020, researchers estimate an additional 76.2 million cases of anxiety disorders and 53.2 million cases of major depression due to the pandemic. Accordingly, the disorders grew by 25.6% and 27.6%, respectively.

Indian Finance Minister Nirmala Sitharaman on Tuesday unveiled the budget for fiscal 2022-23, which aims to boost growth amid continued disruption from COVID-19 and rising inflation.

Indian Finance Minister Nirmala Sitharaman on Tuesday unveiled the budget for fiscal 2022-23, which aims to boost growth amid continued disruption from COVID-19 and rising inflation. While announcing the budget, the Indian FM talked about how the pandemic has affected the mental health of people and the steps being taken by the government to deal with this major side-effect of the pandemic. She said that "the pandemic has accentuated mental health problems in people of all ages. To better the access to quality mental health counselling and care services, a National Tele Mental Health program will be launched." Click here to get live updates Further explaining the program, she explained that 23 nodal centres for telemedical mental health will be operated, with NIMHANS serving as the nodal centre. The International Institute of Information Technology, Bengaluru (IIIT) will provide technical support, she added. Worldwide, mental health problems have been reported as a result of this global humanitarian crisis. Several factors have contributed to a steep rise in depression and anxiety, including restrictions on social contact, lockdowns, economic insecurity, and school and business closures. According to a study published in The Lancet medical journal in October, major depressive and anxiety disorders are increasing substantially, especially among women and youth. In India, the prevalence of such disorders has increased by about 35%, according to the study. In 2020, researchers estimate an additional 76.2 million cases of anxiety disorders and 53.2 million cases of major depression due to the pandemic. Accordingly, the disorders grew by 25.6% and 27.6%, respectively.

Indian Union Budget 2022: A National Tele Mental Health programme to be launched

Indian Finance Minister Nirmala Sitharaman on Tuesday unveiled the budget for fiscal 2022-23, which aims to boost growth amid continued disruption from COVID-19 and rising inflation.

Announcing the budget Sitharaman said that the "issuance of E-passports will be rolled out in 2022-23 to enhance convenience for citizens.".

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It is expected that the next-generation passports will ensure the security of biometric data and facilitate smooth passage through immigration posts worldwide.&nbsp;

However, the idea of e-passports is not new, S Jaishankar, the former foreign affairs minister, announced the idea of the e-passport some time ago.

While India does not yet issue biometric passports for ordinary citizens, diplomatic and official passports have been biometrically secured since 2008, when then-President Pratibha Patil was issued the country's first e-passport.

The move will allow India to join some 150 countries that issue biometric passports, such as the UK, Germany, Bangladesh, etc.

Indian Finance Minister Nirmala Sitharaman on Tuesday unveiled the budget for fiscal 2022-23, which aims to boost growth amid continued disruption from COVID-19 and rising inflation. Announcing the budget Sitharaman said that the "issuance of E-passports will be rolled out in 2022-23 to enhance convenience for citizens.". Click here to get live updates It is expected that the next-generation passports will ensure the security of biometric data and facilitate smooth passage through immigration posts worldwide. However, the idea of e-passports is not new, S Jaishankar, the former foreign affairs minister, announced the idea of the e-passport some time ago. While India does not yet issue biometric passports for ordinary citizens, diplomatic and official passports have been biometrically secured since 2008, when then-President Pratibha Patil was issued the country's first e-passport. The move will allow India to join some 150 countries that issue biometric passports, such as the UK, Germany, Bangladesh, etc.

Indian Union Budget 2022: Country to roll out next-generation e-passports for citizens

While presenting the Budget 2022-2023, Indian Finance Minister Nirmala Sitharaman announced the 'One class, one TV channel' programme of Prime Minister Narendra Modi's government.&nbsp;

She said that the programme eVIDYA will be expanded from 12 to 200 television channels which will enable all states to provide supplementary education in regional languages for classes 1 to 12 in the country.&nbsp;

The coronavirus (COVID-19) pandemic has forced the students to stay at home and away from their schools, being reliant on online schooling. Such an expansion of the scheme is expected to help students&nbsp;across the country to a larger extent.&nbsp;

She&nbsp;also proposed to set up a digital university to provide education that will be built on a hub and spoke model

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In the presence of PM Modi, FM Sitharaman presented the annual Union Budget for the year 2022-2023 in Parliament on Tuesday (February 1). &nbsp;

She has also said that India's growth is estimated to be at 9.2 per cent, the highest among all large economies as the nation is now in a strong position to withstand challenges, such as coronavirus (COVID-19).&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/india-union-budget-2022-sitharaman-unveils-india-100-key-points-449424">India Union Budget 2022: Sitharaman unveils India @ 100 - Key points</a>

The budget was paperless - just like last year but it will be available on an application named "Union Budget Mobile App". The app was launched last year for easy access to Budget documents by Members of Parliament (MPs) and the general public.&nbsp;

While presenting the Budget 2022-2023, Indian Finance Minister Nirmala Sitharaman announced the 'One class, one TV channel' programme of Prime Minister Narendra Modi's government.

While presenting the Budget 2022-2023, Indian Finance Minister Nirmala Sitharaman announced the 'One class, one TV channel' programme of Prime Minister Narendra Modi's government. She said that the programme eVIDYA will be expanded from 12 to 200 television channels which will enable all states to provide supplementary education in regional languages for classes 1 to 12 in the country. The coronavirus (COVID-19) pandemic has forced the students to stay at home and away from their schools, being reliant on online schooling. Such an expansion of the scheme is expected to help students across the country to a larger extent. She also proposed to set up a digital university to provide education that will be built on a hub and spoke model Click here to get live updates In the presence of PM Modi, FM Sitharaman presented the annual Union Budget for the year 2022-2023 in Parliament on Tuesday (February 1). She has also said that India's growth is estimated to be at 9.2 per cent, the highest among all large economies as the nation is now in a strong position to withstand challenges, such as coronavirus (COVID-19). ALSO READ | India Union Budget 2022: Sitharaman unveils India @ 100 - Key points The budget was paperless - just like last year but it will be available on an application named "Union Budget Mobile App". The app was launched last year for easy access to Budget documents by Members of Parliament (MPs) and the general public.

'One class, one TV channel': PM Narendra Modi government's gift to students in Budget 2022