During the presentation of the India interim budget 2024, Finance Minister Nirmala Sitharaman announced government plans to bring a housing scheme aimed at addressing the&nbsp;needs of the middle class in the country.

Emphasising the Prime Minister Narendra Modi-led government's commitment to development, the finance minister stated, "Our government will launch a scheme to help deserving sections of the middle class living in rented houses, or slums, or chawls, and unauthorised colonies to buy or build their own houses."

The scheme is expected to provide support to those who have long faced challenges in acquiring suitable housing, promoting homeownership, and improving living conditions. FM Sitharaman also highlighted the role of urbanisation in shaping the future of India, stating, "We have a fast-expanding middle class, and rapid urbanisation is taking place. Metro and NaMo Bharat can be the catalyst for the required urban transformation."

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/indian-budget-2024-fm-sitharaman-tables-interim-budget-says-working-to-viksit-bharat-by-2047-685816">India Budget 2024: FM Sitharaman tables interim Budget, says 'working to Viksit Bharat by 2047'</a>

The finance minister spoke of the expansion of Metro systems in large cities, focusing on "transit-oriented development", as a key element of this urban transformation.

Notably, PM Modi has introduced a new mode of transportation in India with the inauguration of the priority section of the Delhi-Ghaziabad-Meerut RRTS, also known as NaMo Bharat. The complete 82-km Delhi-Ghaziabad-Meerut corridor is expected to be functional by 2025.

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/indian-interim-budget-key-takeaways-from-nirmala-sitharamans-budget-speech-685817">India interim Budget: Key takeaways from Nirmala Sitharaman's budget speech</a>

The finance minister also touched upon India's global standing, acknowledging the success of hosting the G20 in 60 places, which she said showcased the nation's diversity to a global audience. "Our economic strength has made the country an attractive destination for business and conference tourism," she said.

Watch |&nbsp;<a href="https://www.wionews.com/videos/india-budget-2024-indias-april-december-deficit-at-55-of-annual-target-685813">India Budget 2024: India's April-December deficit at 55% of annual target</a>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-budget-2024-indias-april-december-deficit-at-55-of-annual-target-685813/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

While recognising the aspirations of the middle class, Sitharaman said, "Our middle class also now aspires to travel and explore. Tourism, including spiritual tourism, has tremendous opportunities for local entrepreneurship. States will be encouraged to take up comprehensive development of iconic tourist centres, branding and marketing them at the global level."&nbsp;

(With inputs from agencies)

During the presentation of the India interim budget 2024, Finance Minister Nirmala Sitharaman announced government plans to bring a housing scheme aimed at addressing the needs of the middle class in the country.

During the presentation of the India interim budget 2024, Finance Minister Nirmala Sitharaman announced government plans to bring a housing scheme aimed at addressing the needs of the middle class in the country. Emphasising the Prime Minister Narendra Modi-led government's commitment to development, the finance minister stated, "Our government will launch a scheme to help deserving sections of the middle class living in rented houses, or slums, or chawls, and unauthorised colonies to buy or build their own houses." The scheme is expected to provide support to those who have long faced challenges in acquiring suitable housing, promoting homeownership, and improving living conditions. FM Sitharaman also highlighted the role of urbanisation in shaping the future of India, stating, "We have a fast-expanding middle class, and rapid urbanisation is taking place. Metro and NaMo Bharat can be the catalyst for the required urban transformation." Also Read | India Budget 2024: FM Sitharaman tables interim Budget, says 'working to Viksit Bharat by 2047' The finance minister spoke of the expansion of Metro systems in large cities, focusing on "transit-oriented development", as a key element of this urban transformation. Notably, PM Modi has introduced a new mode of transportation in India with the inauguration of the priority section of the Delhi-Ghaziabad-Meerut RRTS, also known as NaMo Bharat. The complete 82-km Delhi-Ghaziabad-Meerut corridor is expected to be functional by 2025. Also Read | India interim Budget: Key takeaways from Nirmala Sitharaman's budget speech The finance minister also touched upon India's global standing, acknowledging the success of hosting the G20 in 60 places, which she said showcased the nation's diversity to a global audience. "Our economic strength has made the country an attractive destination for business and conference tourism," she said. Watch | India Budget 2024: India's April-December deficit at 55% of annual target × While recognising the aspirations of the middle class, Sitharaman said, "Our middle class also now aspires to travel and explore. Tourism, including spiritual tourism, has tremendous opportunities for local entrepreneurship. States will be encouraged to take up comprehensive development of iconic tourist centres, branding and marketing them at the global level." (With inputs from agencies)

India Budget 2024: Govt to launch housing scheme for middle class

With confidence arising from the exemplary track record of progress, earning sabka viswas the next 5 years will be of unprecedented development, said Indian FM Nirmala Sitharaman.

Budget 2024: Earning Sabka Vishwas, next 5 years will be years of unprecedented development, says FM

Finance Minister Nirmala Sitharaman emphasised on the development of railways and said that 40,000 railway coaches will be converted to 'Vande Bharat' coaches.

India Budget 2024: Nirmala Sitharaman emphasises on development of railways

Finance Minister Nirmala Sitharaman stated that the Goods and Services Tax (GST) has enabled 'one nation, one market, one tax'. "Tax reforms have led to deepening, widening of tax base," she went on to say.

India Budget 2024: Nirmala Sitharaman says, 'GST enabled one nation, one market, one tax' | WION

The Budget Session of Parliament began today, with President Droupadi Murmu addressing a combined session of the Lok Sabha and Rajya Sabha. The Budget Session is the last Parliamentary session before the Lok Sabha elections later this year.

India Budget 2024: President Murmu praises defence production crossing Rs 1 lakh-crore mark

The Budget Session in Parliament began on Wednesday with President Droupadi Murmu's first address in the new Parliament building. Addressing both Houses of Parliament, the president spoke on the many accomplishments of the Indian government over the last year, including the passage of the Women's Reservation Bill, India becoming the fifth largest economy in the world, Chandrayaan-3, and the G20 Summit. Listen in.

President Murmu hails Ram Mandir construction, says 'centuries-old desire now a reality'

Indian Prime Minister Narendra Modi, during an address outside Parliament on Wednesday ahead of the Budget Session, had a word of advice for fellow legislators, stating that MPs who habitually disrupt Parliament proceedings should introspect.

Budget 2024: Indian PM Modi addresses the press ahead of Budget session

International Monetary Fund forecasted India's growth trajectory. India's economy is likely to grow at 6.5% in the financial year. According to the IMF, India's economy will grow at a similar pace the year after.

Ahead of interim budget, IMF raises India's growth forecast to 6.5% for next financial year

All eyes on India Budget 2024: Government's economic report hails India's growth story

In the latest,&nbsp;Champai Soren is poised to assume the role of Chief Minister in the Indian state of Jharkhand, following the resignation of Hemant Soren, who subsequently faced arrest by officials from the enforcement directorate. In other news, close to the Line of Actual Control (LAC), the border between India and China, Ladakh shepherds demonstrated exceptional bravery by confronting Chinese soldiers who were trying to prevent them from grazing sheep, according to media reports referencing video footage.

Click on the headlines to read more.

<a href="https://www.wionews.com/world/meta-tiktok-x-ceos-grilled-at-us-senate-hearing-on-combating-online-child-exploitation-685605">Meta, TikTok, X CEOs grilled at US Senate hearing on combating online child exploitation</a>

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2024/01/31/409188-the-battle-for-kyiv-2024-01-31t213220802.jpg?imwidth=500" />

In a significant US&nbsp;Senate hearing, top executives from leading social media companies, including Meta, TikTok, Snap, and Discord, faced rigorous questioning about their efforts to combat online child sexual exploitation.

<a href="https://www.wionews.com/india-news/india-jharkhand-gets-new-cm-champai-soren-hemant-soren-resigns-amid-ed-raids-685596">India: Jharkhand to get new CM as Hemant Soren resigns, gets arrested by ED</a>

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2024/01/30/408858-new-wion-2024-01-30t112849792.jpg?imwidth=500" />

Amidst the political drama, Champai Soren is set to become the new Chief Minister of the Indian state of Jharkhand, after Hemant Soren resigned from his position and was arrested by economic law enforcement agency officials.&nbsp;

Soren had been caught in controversy as the Enforcement Directorate (ED) had been actively investigating him in connection with a money laundering case linked to an alleged land scam.

<a href="https://www.wionews.com/india-news/watch-ladakh-shepherds-stand-firm-against-chinese-troops-social-media-applauds-their-bravery-685514">Ladakh shepherds stand firm against Chinese troops, draw applause from Indian netizens</a>

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2024/01/31/409132-untitled-design-2024-01-31t162800998.png?imwidth=500" />

Near Line of Actual Control (LAC), the&nbsp;India-China border, a group of Ladakh shepherds displayed remarkable courage as they confronted Chinese soldiers attempting to obstruct them from grazing sheep, media reports said citing video footage. The viral video capturing the confrontation has garnered widespread admiration for the shepherds on social media.

<a href="https://www.wionews.com/south-asia/imran-khan-wife-bushra-sentenced-to-14-years-of-rigorous-punishment-in-toshakhana-case-report-685372">Former Pakistan PM Imran Khan, wife Bushra sentenced to 14 years in Toshakhana case</a>

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2023/08/19/374121-untitled-design-2023-08-19t092529528.png?imwidth=500" />

Former Pakistan Prime Minister Imran Khan and his wife&nbsp;Bushra Bibi were sentenced to 14 years with 'rigorous punishment' in the Toshakhana case, Pakistan's Geo News reported. The latest prison sentence against the Pakistan Tehreek-e-Insaf (PTI) leader came just eight days ahead of scheduled national elections in Pakistan and a day after he was sentenced to 10 years in prison for leaking state secrets.

<a href="https://www.wionews.com/india-news/budget-2024-pm-modi-hails-naari-shakti-calls-out-oppositions-unruly-behaviour-685384">Budget 2024: PM Modi hails 'Naari Shakti', calls out Opposition's 'unruly' behaviour</a>

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2024/01/31/409064-untitled-design-23.png?imwidth=500" />

Before the beginning of the Budget Session in the Indian Parliament on Wednesday (Jan 31), Indian Prime Minister Narendra Modi slammed the 'unruly MPs' and asked them to introspect.

Speaking against democratic disruptions in the Parliament, PM Modi said that no one will remember those who created a ruckus in the Parliament.

<a href="https://www.wionews.com/world/who-is-boris-nadezhdin-putin-challenger-who-has-submitted-presidential-bid-in-russia-685534">Who is Putin challenger Boris Nadezhdin, who has submitted presidential bid in Russia?</a>

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2024/01/31/409153-the-battle-for-kyiv-2024-01-31t172334847.jpg?imwidth=500" />

Kremlin challenger Boris Nadezhdin has claimed to have collected enough signatures to stand as a candidate in Russia's upcoming presidential election. The former local councillor, known for his outspoken criticism of Putin and Russia's invasion of Ukraine, stated that he submitted more than the required 100,000 signatures to the electoral authorities. The electoral commission must now review his application.

<a href="https://www.wionews.com/world/us-indian-national-jailed-for-9-years-for-28-mn-healthcare-fraud-witness-tampering-685594">US: Indian national jailed for 9 years for $2.8 mn healthcare fraud, witness tampering</a>

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2024/01/27/408299-untitled-design.png?imwidth=500" />

A 43-year-old Indian national&nbsp;Yogesh K Pancholi, residing in Northville, Michigan, has been sentenced to nine years in prison on Tuesday (Jan 30) for orchestrating a nearly $2.8 million health care fraud. The case&nbsp;involved aggravated identity theft, money laundering, and witness tampering, as per US State Department.&nbsp;&nbsp;

<a href="https://www.wionews.com/india-news/indias-snow-leopard-population-stands-at-718-reveals-first-ever-scientific-survey-685577">India's Snow Leopard population stands at 718, reveals first-ever scientific survey</a>

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2022/01/09/232264-snow-leopards.jpg?imwidth=500" />

A pioneering scientific initiative, SPAI, has reported a population of 718 snow leopards in India. This comes the Indian Minister of Environment, Forest, and Climate Change, Bhupender Yadav, unveiled the outcomes of the inaugural Snow Leopard Population Assessment in India (SPAI) Program during the National Board for Wildlife meeting in New Delhi on Tuesday (Jan 30).

<a href="https://www.wionews.com/world/middle-east-iran-us-direct-war-kataib-hezbollah-iraq-tensions-gaza-war-685333">Iran remains on high alert even as Kataib Hezbollah suspends military operations</a>

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2024/01/31/409036-gazachildren-1.png?imwidth=500" />

The tensions in West Asia continue to run high after three US troops were killed in Jordan, marking the first American fatalities since the region went into turmoil following the October 7 attack by Palestinian militant group Hamas and the consequent Israeli bombardment of Gaza.&nbsp;

<a href="https://www.wionews.com/world/no-signs-of-trauma-on-indian-student-neel-acharyas-dead-body-says-coroner-685424">No signs of trauma on Indian student Neel Acharya's dead body, says coroner</a>

<img alt="main img" src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2024/01/31/409088-untitled-design-25.png?imwidth=500" />

The Tippecanoe County Coroner, in its press release, said that no foul play was suspected in&nbsp;Purdue University student Neel Acharya's death.&nbsp;

In an autopsy, which was conducted on Monday (Jan 29), it was revealed that the body had no signs of trauma, said coroner Carrie Costello. The manner and cause of the death have been under investigation.&nbsp;

&nbsp;

&nbsp;

In the latest, Champai Soren is poised to assume the role of Chief Minister in the Indian state of Jharkhand, following the resignation of Hemant Soren, who subsequently faced arrest by officials from the enforcement directorate.

In the latest, Champai Soren is poised to assume the role of Chief Minister in the Indian state of Jharkhand, following the resignation of Hemant Soren, who subsequently faced arrest by officials from the enforcement directorate. In other news, close to the Line of Actual Control (LAC), the border between India and China, Ladakh shepherds demonstrated exceptional bravery by confronting Chinese soldiers who were trying to prevent them from grazing sheep, according to media reports referencing video footage. Click on the headlines to read more. Meta, TikTok, X CEOs grilled at US Senate hearing on combating online child exploitation In a significant US Senate hearing, top executives from leading social media companies, including Meta, TikTok, Snap, and Discord, faced rigorous questioning about their efforts to combat online child sexual exploitation. India: Jharkhand to get new CM as Hemant Soren resigns, gets arrested by ED Amidst the political drama, Champai Soren is set to become the new Chief Minister of the Indian state of Jharkhand, after Hemant Soren resigned from his position and was arrested by economic law enforcement agency officials. Soren had been caught in controversy as the Enforcement Directorate (ED) had been actively investigating him in connection with a money laundering case linked to an alleged land scam. Ladakh shepherds stand firm against Chinese troops, draw applause from Indian netizens Near Line of Actual Control (LAC), the India-China border, a group of Ladakh shepherds displayed remarkable courage as they confronted Chinese soldiers attempting to obstruct them from grazing sheep, media reports said citing video footage. The viral video capturing the confrontation has garnered widespread admiration for the shepherds on social media. Former Pakistan PM Imran Khan, wife Bushra sentenced to 14 years in Toshakhana case Former Pakistan Prime Minister Imran Khan and his wife Bushra Bibi were sentenced to 14 years with 'rigorous punishment' in the Toshakhana case, Pakistan's Geo News reported. The latest prison sentence against the Pakistan Tehreek-e-Insaf (PTI) leader came just eight days ahead of scheduled national elections in Pakistan and a day after he was sentenced to 10 years in prison for leaking state secrets. Budget 2024: PM Modi hails 'Naari Shakti', calls out Opposition's 'unruly' behaviour Before the beginning of the Budget Session in the Indian Parliament on Wednesday (Jan 31), Indian Prime Minister Narendra Modi slammed the 'unruly MPs' and asked them to introspect. Speaking against democratic disruptions in the Parliament, PM Modi said that no one will remember those who created a ruckus in the Parliament. Who is Putin challenger Boris Nadezhdin, who has submitted presidential bid in Russia? Kremlin challenger Boris Nadezhdin has claimed to have collected enough signatures to stand as a candidate in Russia's upcoming presidential election. The former local councillor, known for his outspoken criticism of Putin and Russia's invasion of Ukraine, stated that he submitted more than the required 100,000 signatures to the electoral authorities. The electoral commission must now review his application. US: Indian national jailed for 9 years for $2.8 mn healthcare fraud, witness tampering A 43-year-old Indian national Yogesh K Pancholi, residing in Northville, Michigan, has been sentenced to nine years in prison on Tuesday (Jan 30) for orchestrating a nearly $2.8 million health care fraud. The case involved aggravated identity theft, money laundering, and witness tampering, as per US State Department. India's Snow Leopard population stands at 718, reveals first-ever scientific survey A pioneering scientific initiative, SPAI, has reported a population of 718 snow leopards in India. This comes the Indian Minister of Environment, Forest, and Climate Change, Bhupender Yadav, unveiled the outcomes of the inaugural Snow Leopard Population Assessment in India (SPAI) Program during the National Board for Wildlife meeting in New Delhi on Tuesday (Jan 30). Iran remains on high alert even as Kataib Hezbollah suspends military operations The tensions in West Asia continue to run high after three US troops were killed in Jordan, marking the first American fatalities since the region went into turmoil following the October 7 attack by Palestinian militant group Hamas and the consequent Israeli bombardment of Gaza. No signs of trauma on Indian student Neel Acharya's dead body, says coroner The Tippecanoe County Coroner, in its press release, said that no foul play was suspected in Purdue University student Neel Acharya's death. In an autopsy, which was conducted on Monday (Jan 29), it was revealed that the body had no signs of trauma, said coroner Carrie Costello. The manner and cause of the death have been under investigation.

Top 10 world news: Tech CEOs grilled at US Senate hearing; Jharkhand to get new CM, and more

Ahead of the interim budget, the Indian government released a concise report on the economy's health. The report suggests India could become a 5 trillion-dollar economy within the next three years.

Budget 2024: India's economic health report

Indian Navy comes to the rescue again. INS Sumitra successfully rescued two hijacked vessels in less than 36 hours. The first hijacked vessel was the Iranian-flagged Fishing Vessel (FV) Iman and the second was Iranian-flagged fishing vessel Al Naeemi.

Indian Navy rescues two hijacked vessels in less than 36 hours

The confederation of Indian industry urges a 20% increase in infrastructure spending. This, coupled with a call for extended manufacturing incentives and import duty adjustments, sets the tone for an economic blueprint aiming to propel growth in the face of political transition.

Industry expectations from India's budget

India and Saudi Arabia on Monday kicked off their inaugural joint military exercise Sada Tanseeq at Mahajan in Rajasthan to deepen military cooperation, the Indian Army said in a statement.

India, Saudi Arabia conduct inaugural joint military exercise underway in Rajasthan

The city of Makkah in Saudi Arabia hosted the second Open Yoga Asana Championship. The event was organised by Al Veda Saudi Arabia club with both boys and girls participating in the event.

Saudi Arabia Open Yoga Asana Championship in Makkah | First event held in Jeddah in 2022

Ramgarh Shekhawati, an enchanting heritage town of wall frescoes, often known as the Open Art Gallery of Rajasthan. WION takes you to this hidden treasure.

Heritage rediscovered: Unveiling Ramgarh's hidden treasures

A pioneering scientific initiative, SPAI, has reported a population of 718 snow leopards in India. This comes the Indian Minister of Environment, Forest, and Climate Change, Bhupender Yadav, unveiled the outcomes of the inaugural Snow Leopard Population Assessment in India (SPAI) Programme during the National Board for Wildlife meeting in New Delhi on Tuesday (Jan 30).

The population estimates are as follows - 477 snow leopards in Ladakh, 124 in Uttarakhand, 51 in Himachal Pradesh, 36 in Arunachal Pradesh, 21 in Sikkim, and 9 in Jammu and Kashmir.

Facilitated by the Wildlife Institute of India (WII) as the National Coordinator, the SPAI was executed with the collaborative support of all snow leopard range states and two conservation partners, the Nature Conservation Foundation, Mysuru, and WWF-India.&nbsp;

Spanning over 70 per cent of the potential snow leopard range in India, the SPAI systematically covered approximately 120,000 square kilometres of critical snow leopard habitat. It includes the trans-Himalayan region, such as Ladakh and Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Sikkim, and Arunachal Pradesh.

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/budget-2024-will-there-be-income-tax-reform-685558">Budget 2024: Will there be Income Tax reforms?</a>

Conducted from 2019 to 2023, the SPAI used a meticulous two-step framework.

The first step involved assessing snow leopard spatial distribution, aligning with the 2019 guidelines of the Ministry of Environment, Forest and Climate Change (MoEFCC).

In the second step, snow leopard abundance was estimated through camera traps in identified stratified regions.

Throughout the SPAI exercise, a comprehensive effort was made, including surveying 13,450 km of trails for recording snow leopard signs and deploying camera traps at 1,971 locations for 180,000 trap nights.

Also Read |&nbsp;<a href="https://www.wionews.com/world/rcb-fever-goes-global-somali-pirates-captured-by-indian-navy-sport-cricket-franchise-jersey-685556">RCB fever goes global: Somali pirates captured by Indian Navy sport cricket franchise jersey</a>

The results revealed snow leopard occupancy in 93,392 square kilometres, with an estimated presence in 100,841 square kilometres, capturing images of 241 unique snow leopards.

Historically, the snow leopard range in India was undefined due to a lack of extensive nationwide assessments.

Watch |&nbsp;<a href="https://www.wionews.com/videos/ahead-of-interim-budget-imf-raises-indias-growth-forecast-to-65-for-next-financial-year-685554">Ahead of interim budget, IMF raises India's growth forecast to 6.5% for next financial year</a>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/ahead-of-interim-budget-imf-raises-indias-growth-forecast-to-65-for-next-financial-year-685554/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

"The report also mentions the need for establishing a dedicated Snow Leopard Cell at WII under the MoEFCC is proposed, with a primary focus on long-term population monitoring, supported by well-structured study designs and consistent field surveys," as per a release.

Consistent monitoring is deemed essential for ensuring the long-term survival of snow leopards, and the report suggested adopting a periodic population estimation approach, every fourth year, in the snow leopard range in a bid to spot challenges faced and also lay out conservation methods.

(With inputs from agencies)

A pioneering scientific initiative, SPAI, has reported a population of 718 snow leopards in India. This comes the Indian Minister of Environment, Forest, and Climate Change, Bhupender Yadav, unveiled the outcomes of the inaugural Snow Leopard Population Assessment in India (SPAI) Programme during the National Board for Wildlife meeting in New Delhi on Tuesday (Jan 30).

A pioneering scientific initiative, SPAI, has reported a population of 718 snow leopards in India. This comes the Indian Minister of Environment, Forest, and Climate Change, Bhupender Yadav, unveiled the outcomes of the inaugural Snow Leopard Population Assessment in India (SPAI) Programme during the National Board for Wildlife meeting in New Delhi on Tuesday (Jan 30). The population estimates are as follows - 477 snow leopards in Ladakh, 124 in Uttarakhand, 51 in Himachal Pradesh, 36 in Arunachal Pradesh, 21 in Sikkim, and 9 in Jammu and Kashmir. Facilitated by the Wildlife Institute of India (WII) as the National Coordinator, the SPAI was executed with the collaborative support of all snow leopard range states and two conservation partners, the Nature Conservation Foundation, Mysuru, and WWF-India. Spanning over 70 per cent of the potential snow leopard range in India, the SPAI systematically covered approximately 120,000 square kilometres of critical snow leopard habitat. It includes the trans-Himalayan region, such as Ladakh and Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Sikkim, and Arunachal Pradesh. Also Read | Budget 2024: Will there be Income Tax reforms? Conducted from 2019 to 2023, the SPAI used a meticulous two-step framework. The first step involved assessing snow leopard spatial distribution, aligning with the 2019 guidelines of the Ministry of Environment, Forest and Climate Change (MoEFCC). In the second step, snow leopard abundance was estimated through camera traps in identified stratified regions. Throughout the SPAI exercise, a comprehensive effort was made, including surveying 13,450 km of trails for recording snow leopard signs and deploying camera traps at 1,971 locations for 180,000 trap nights. Also Read | RCB fever goes global: Somali pirates captured by Indian Navy sport cricket franchise jersey The results revealed snow leopard occupancy in 93,392 square kilometres, with an estimated presence in 100,841 square kilometres, capturing images of 241 unique snow leopards. Historically, the snow leopard range in India was undefined due to a lack of extensive nationwide assessments. Watch | Ahead of interim budget, IMF raises India's growth forecast to 6.5% for next financial year × "The report also mentions the need for establishing a dedicated Snow Leopard Cell at WII under the MoEFCC is proposed, with a primary focus on long-term population monitoring, supported by well-structured study designs and consistent field surveys," as per a release. Consistent monitoring is deemed essential for ensuring the long-term survival of snow leopards, and the report suggested adopting a periodic population estimation approach, every fourth year, in the snow leopard range in a bid to spot challenges faced and also lay out conservation methods. (With inputs from agencies)

India’s snow leopard population stands at 718, reveals first-ever scientific survey

As of January 31, the Reserve Bank of India (RBI) has imposed significant business restrictions on Paytm Payments Bank. This includes barring the acceptance of fresh deposits and conducting credit transactions after February 29. Moreover, on March 11, the RBI extended the restrictions by prohibiting Paytm Payments Bank from onboarding new customers.

<h2>Supervisory concerns and non-compliances</h2>

The RBI's action was prompted by a Comprehensive System Audit report, followed by a compliance validation report from external auditors.

These reports highlighted persistent non-compliances and ongoing supervisory concerns within the bank. The severity of these issues necessitated additional supervisory measures.

Effective from February 29, 2024, Paytm Payments Bank is restricted from accepting further deposits, conducting credit transactions, or enabling top-ups in customer accounts, prepaid instruments, wallets, FASTags, and NCMC cards.

<a href="https://www.wionews.com/business-economy/budget-2024-all-eyes-on-capex-685506">Also read |&nbsp;Budget 2024: All eyes on the government's capex as India pushes for big-ticket infrastructure</a>

However, allowances are made for interest, cashbacks, or refunds that may be credited at any time. The withdrawal or utilisation of balances by customers, across various accounts and instruments, remains permissible without restrictions, up to their available balance.

Post-February 29, 2024, the bank is barred from offering any banking services, excluding withdrawals and balance utilisation. This includes fund transfers encompassing services such as AEPS, IMPS, BBPOU, and UPI facilities.

Also watch |&nbsp;India: Delhi witnessed its coldest January in 13 years: Weather department

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-delhi-witnessed-its-coldest-january-in-13-years-weather-department-685519/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The RBI has mandated the prompt termination of Nodal Accounts associated with One97 Communications Ltd and Paytm Payments Services Ltd. This directive is to be executed expeditiously, with the deadline set for no later than February 29, 2024.

(With inputs from agencies)

As of January 31, the Reserve Bank of India (RBI) has imposed significant business restrictions on Paytm Payments Bank. This includes barring the acceptance of fresh deposits and conducting credit transactions after February 29.

As of January 31, the Reserve Bank of India (RBI) has imposed significant business restrictions on Paytm Payments Bank. This includes barring the acceptance of fresh deposits and conducting credit transactions after February 29. Moreover, on March 11, the RBI extended the restrictions by prohibiting Paytm Payments Bank from onboarding new customers. Supervisory concerns and non-compliances The RBI's action was prompted by a Comprehensive System Audit report, followed by a compliance validation report from external auditors. These reports highlighted persistent non-compliances and ongoing supervisory concerns within the bank. The severity of these issues necessitated additional supervisory measures. Effective from February 29, 2024, Paytm Payments Bank is restricted from accepting further deposits, conducting credit transactions, or enabling top-ups in customer accounts, prepaid instruments, wallets, FASTags, and NCMC cards. Also read | Budget 2024: All eyes on the government's capex as India pushes for big-ticket infrastructure However, allowances are made for interest, cashbacks, or refunds that may be credited at any time. The withdrawal or utilisation of balances by customers, across various accounts and instruments, remains permissible without restrictions, up to their available balance. Post-February 29, 2024, the bank is barred from offering any banking services, excluding withdrawals and balance utilisation. This includes fund transfers encompassing services such as AEPS, IMPS, BBPOU, and UPI facilities. Also watch | India: Delhi witnessed its coldest January in 13 years: Weather department The RBI has mandated the prompt termination of Nodal Accounts associated with One97 Communications Ltd and Paytm Payments Services Ltd. This directive is to be executed expeditiously, with the deadline set for no later than February 29, 2024. (With inputs from agencies)

India: RBI enforces major business restrictions on Paytm Payments Bank

The upcoming Indian budget session commences today with President Droupadi Murmu's address to the joint sitting of both Houses. The vote on account will be presented tomorrow.

India Budget 2024: President Murmu to address both houses as budget session set to begin

In the highly competitive world of commercial rocketry, those who lift big, earn big. At a time when private firms and governments are developing their own satellite constellations and heavy communication satellites, there is a rapidly growing need for launch vehicles that can ferry these satellites to space.

It is under such market conditions that commercial launch service providers NewSpace India Limited (NSIL is the commercial arm of the Indian Space Research Organization) and the French firm Arianespace have entered into a long-term strategic partnership.&nbsp;

While eleven nations have demonstrated the capability to place their satellites into orbit, it must be remembered that very few of them (either government agencies or private entities) have the wherewithal to perform such launches in a dependable and consistent manner.

Operating a commercial ferry to space is a high-risk and low-return business, which is why there are very few operators in this segment.&nbsp;

Arianespace has been ferrying its customers' satellites to space since the early 1980s and the commercial arm of ISRO has been doing so since 1999. That makes both these entities credible and reliable launch service providers, with the legacy of having launched hundreds of customer satellites. Not many government agencies or private entities have such a track record.

<h2>Business potential - Communication satellites and LEO constellations</h2>

Communication satellites facilitate television broadcasting, satellite radio, satellite phones, and much more. Typically, communication satellites are bulky, owing to the large amounts of fuel that they carry, the number of transponders on board, and the long operational life of the craft, which is anywhere between five to fifteen years.

Satellites that are under this category can weigh anywhere between four tonnes to fifteen tonnes and there are very few rockets in the world that can put these satellites into orbit.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false"><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/u35sJyZ_qEQ?si=YGtiNWDNG-8fpc7D" title="YouTube video player" width="560"></iframe></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Startlink, EutelSat OneWeb, Project Kuiper, are among the popular entities, in addition to governments that are establishing constellations of hundreds (if not thousands) of satellites in low earth orbit (anywhere between 500-200 km&nbsp;above the earth).

Such constellations are meant to beam down high-speed (4G-like) internet to remote places on the earth, where conventional internet and communications services are unavailable or scarce.

Also Read |&nbsp;<a href="https://www.wionews.com/science/fired-up-nasas-lucy-spacecraft-fires-main-engines-in-space-for-the-first-time-since-its-launch-685504">Fired-up! NASA's Lucy spacecraft fires main engines in space for the first time since its launch</a>

With each launch, these entities look to loft a few dozen satellites into orbit and this requirement can be fulfilled by only very few rocket variants. Putting together a constellation requires regular and dependable launches in a time-bound manner.&nbsp;

Owing to evolving geopolitical scenarios, the use of Russian rockets by foreign customers has dwindled, following the Ukraine-Russia conflict. While China has capable rockets, their fleet is used predominantly to launch their own national or commercial missions and there is very limited exposure to international customers. This is why the list of medium-lift and heavy-lift rockets is very limited for prospective customers.&nbsp;

The Indian LVM3 rocket and the upcoming Arianespace Ariane 6 rocket are capable of undertaking these kinds of missions. India's LVM3 has placed communication satellites in orbit and also demonstrated how it can ferry 36 satellites in a single launch, to build a satellite constellation.

Also Read |&nbsp;<a href="https://www.wionews.com/science/do-moons-exist-outside-our-solar-systems-researchers-argue-on-discovery-of-exomoons-685419">Do moons exist outside our solar systems? Researchers argue on discovery of exomoons</a>

The Ariane 5 rocket (retired in 2023) has undertaken hundreds of missions of such kind and proven its mettle, which is why Arianespace hopes to continue the same with its successor, the Ariane 6 rocket.&nbsp;

In terms of communication satellites, the Indian LVM3 can loft crafts weighing four tons, whereas the bigger variant of Ariane 6 can lift 11.5 tonnes.

When it comes to launching multiple satellites into low earth orbit, the LVM3 can launch payloads weighing a total of eight tonnes, and the bigger variant of the Ariane 6 can launch payloads weighing more than 20 tonnes.

The only rocket in the International market that operates in a comparable class is the SpaceX Falcon9 reusable rocket, which can lift more than 22 tonnes to low Earth orbit and communication satellites weighing more than eight tonnes. &nbsp;

Recently, NSIL announced that its 4.7 tonnes GSAT-20 satellite, a high-capacity communication satellite would be launched on the SpaceX Falcon 9 rocket. &nbsp;

<h2>How will NSIL and Arianespace work together to 'Lift big and earn big'?</h2>

While NSIL and Arianespace have the kind of rockets that are being sought by customers, they face a challenge in terms of the number of launches per year.

Given that both LVM3 and Ariane 6 are expendable rockets (unlike the reusable Falcon 9), each rocket has to be entirely built from scratch and launched. Therefore, there are obvious limitations on the manufacturing capacity and the infrastructure to perform more than a handful of launches per year.

In comparison, SpaceX Falcon 9 has done more than 290 launches in its 13 years of operations, with more than 91 Falcon 9 launches in 2023 alone.&nbsp;

According to D. Radhakrishnan, Chairman and Managing Director of NSIL, &nbsp;the long-term partnership between the two companies is to meet the Global commercial satellite launch service market needs. Together, both LVM3 and Ariane 6 would support customer needs, he says.&nbsp;

Elaborating on this, he said that the Indian LVM3 could ferry satellites for Arianespace if the French firm had a launch requirement from a customer and did not have a rocket available at that time.

Vice versa, the Ariane 6 vehicle would be used to launch the satellite for NSIL, when an Indian rocket is not available to meet NSIL's customer demands, he told WION.

As per this agreement, the respective entities would be launching their rockets from home soil - LVM3 from ISRO's spaceport in Sriharikota, India, and Ariane 6 from Kourou, French Guiana.

He believes that such an arrangement which combines the strengths of both established commercial launchers would help reach out to new markets and customers.&nbsp;

In order to achieve the capability of stepping up in times of need, he said that India is working with its homegrown industry to increase the production capacity of its LVM3 rocket. For context, the LVM3 rocket has been operational for almost a decade now and has flown seven missions (all successful).

While India has managed to improve the production capacity of the LVM3 and launched three of these rockets between October 2022 and July 2023, this is still inadequate when it comes to commercial operations.&nbsp;

Radhakrishnan told WION that the Indian establishment is working towards gradually ramping up to four or five LVM3 launches per year and eventually six to seven launches, considering the commercial demand that they expect.

With the Ariane 5 rocket retired in mid-2023, Arianespace is now working towards getting the Ariane 6 ready for its maiden flight, which is expected mid-2024.&nbsp;

&nbsp; 
&nbsp;

In the highly competitive world of commercial rocketry, those who lift big, earn big. At a time when private firms and governments are developing their own satellite constellations and heavy communication satellites, there is a rapidly growing need for launch vehicles that can ferry these satellites to space.

In the highly competitive world of commercial rocketry, those who lift big, earn big. At a time when private firms and governments are developing their own satellite constellations and heavy communication satellites, there is a rapidly growing need for launch vehicles that can ferry these satellites to space. It is under such market conditions that commercial launch service providers NewSpace India Limited (NSIL is the commercial arm of the Indian Space Research Organization) and the French firm Arianespace have entered into a long-term strategic partnership. While eleven nations have demonstrated the capability to place their satellites into orbit, it must be remembered that very few of them (either government agencies or private entities) have the wherewithal to perform such launches in a dependable and consistent manner. Operating a commercial ferry to space is a high-risk and low-return business, which is why there are very few operators in this segment. Arianespace has been ferrying its customers' satellites to space since the early 1980s and the commercial arm of ISRO has been doing so since 1999. That makes both these entities credible and reliable launch service providers, with the legacy of having launched hundreds of customer satellites. Not many government agencies or private entities have such a track record. Business potential - Communication satellites and LEO constellations Communication satellites facilitate television broadcasting, satellite radio, satellite phones, and much more. Typically, communication satellites are bulky, owing to the large amounts of fuel that they carry, the number of transponders on board, and the long operational life of the craft, which is anywhere between five to fifteen years. Satellites that are under this category can weigh anywhere between four tonnes to fifteen tonnes and there are very few rockets in the world that can put these satellites into orbit. × Startlink, EutelSat OneWeb, Project Kuiper, are among the popular entities, in addition to governments that are establishing constellations of hundreds (if not thousands) of satellites in low earth orbit (anywhere between 500-200 km above the earth). Such constellations are meant to beam down high-speed (4G-like) internet to remote places on the earth, where conventional internet and communications services are unavailable or scarce. Also Read | Fired-up! NASA's Lucy spacecraft fires main engines in space for the first time since its launch With each launch, these entities look to loft a few dozen satellites into orbit and this requirement can be fulfilled by only very few rocket variants. Putting together a constellation requires regular and dependable launches in a time-bound manner. Owing to evolving geopolitical scenarios, the use of Russian rockets by foreign customers has dwindled, following the Ukraine-Russia conflict. While China has capable rockets, their fleet is used predominantly to launch their own national or commercial missions and there is very limited exposure to international customers. This is why the list of medium-lift and heavy-lift rockets is very limited for prospective customers. The Indian LVM3 rocket and the upcoming Arianespace Ariane 6 rocket are capable of undertaking these kinds of missions. India's LVM3 has placed communication satellites in orbit and also demonstrated how it can ferry 36 satellites in a single launch, to build a satellite constellation. Also Read | Do moons exist outside our solar systems? Researchers argue on discovery of exomoons The Ariane 5 rocket (retired in 2023) has undertaken hundreds of missions of such kind and proven its mettle, which is why Arianespace hopes to continue the same with its successor, the Ariane 6 rocket. In terms of communication satellites, the Indian LVM3 can loft crafts weighing four tons, whereas the bigger variant of Ariane 6 can lift 11.5 tonnes. When it comes to launching multiple satellites into low earth orbit, the LVM3 can launch payloads weighing a total of eight tonnes, and the bigger variant of the Ariane 6 can launch payloads weighing more than 20 tonnes. The only rocket in the International market that operates in a comparable class is the SpaceX Falcon9 reusable rocket, which can lift more than 22 tonnes to low Earth orbit and communication satellites weighing more than eight tonnes. Recently, NSIL announced that its 4.7 tonnes GSAT-20 satellite, a high-capacity communication satellite would be launched on the SpaceX Falcon 9 rocket. How will NSIL and Arianespace work together to 'Lift big and earn big'? While NSIL and Arianespace have the kind of rockets that are being sought by customers, they face a challenge in terms of the number of launches per year. Given that both LVM3 and Ariane 6 are expendable rockets (unlike the reusable Falcon 9), each rocket has to be entirely built from scratch and launched. Therefore, there are obvious limitations on the manufacturing capacity and the infrastructure to perform more than a handful of launches per year. In comparison, SpaceX Falcon 9 has done more than 290 launches in its 13 years of operations, with more than 91 Falcon 9 launches in 2023 alone. According to D. Radhakrishnan, Chairman and Managing Director of NSIL, the long-term partnership between the two companies is to meet the Global commercial satellite launch service market needs. Together, both LVM3 and Ariane 6 would support customer needs, he says. Elaborating on this, he said that the Indian LVM3 could ferry satellites for Arianespace if the French firm had a launch requirement from a customer and did not have a rocket available at that time. Vice versa, the Ariane 6 vehicle would be used to launch the satellite for NSIL, when an Indian rocket is not available to meet NSIL's customer demands, he told WION. As per this agreement, the respective entities would be launching their rockets from home soil - LVM3 from ISRO's spaceport in Sriharikota, India, and Ariane 6 from Kourou, French Guiana. He believes that such an arrangement which combines the strengths of both established commercial launchers would help reach out to new markets and customers. In order to achieve the capability of stepping up in times of need, he said that India is working with its homegrown industry to increase the production capacity of its LVM3 rocket. For context, the LVM3 rocket has been operational for almost a decade now and has flown seven missions (all successful). While India has managed to improve the production capacity of the LVM3 and launched three of these rockets between October 2022 and July 2023, this is still inadequate when it comes to commercial operations. Radhakrishnan told WION that the Indian establishment is working towards gradually ramping up to four or five LVM3 launches per year and eventually six to seven launches, considering the commercial demand that they expect. With the Ariane 5 rocket retired in mid-2023, Arianespace is now working towards getting the Ariane 6 ready for its maiden flight, which is expected mid-2024.

Explained | Why India and France are betting big on heavy-lift commercial rocketry

In the Indian state of Himachal Pradesh, over 300 tourists were left stranded after a night of intense snowfall. Now all of them have been rescued by the state's police force.

Snowfall in North India leaves tourists stranded; Police rescues over 300 tourists in Himachal

Near Line of Actual Control (LAC), the&nbsp;India-China border, a group of Ladakh shepherds displayed remarkable courage as they confronted Chinese soldiers attempting to obstruct them from grazing sheep, media reports said citing video footage. The viral video capturing the confrontation has garnered widespread admiration for the shepherds on social media.

Following the Galwan Valley clash in 2020, where a violent confrontation broke out between Indian and Chinese soldiers on the night of June 15-16 in the border region of Ladakh,&nbsp;local shepherds had refrained from grazing animals in the area.

The shepherds, seen in the widely-circulated video, reclaimed their grazing rights in the region and compelled People's Liberation Army (PLA) soldiers to withdraw, an act which is now hugely appreciated on social media platforms.&nbsp;

Chushul councillor Konchok Stanzin commended the resilience of the shepherds.

"It is heartening to see the positive impact made by @firefurycorps_IA in Border areas of Eastern Ladakh in facilitating the graziers and nomads to assert their rights in traditional grazing grounds along the north bank of Pangong," he wrote in a social media post.

<blockquote>
It is heartening to see the positive impact made by @firefurycorps_IA 
in Border areas of Eastern Ladakh in facilitating the graziers &amp; nomads to assert their rights in traditional grazing grounds along the north bank of Pangong. 
I would like to thank <a href="https://twitter.com/hashtag/IndianArmy?src=hash&amp;ref_src=twsrc%5Etfw">#IndianArmy</a> for such strong… <a href="https://t.co/yNIBatPRKE">pic.twitter.com/yNIBatPRKE</a>
— Konchok Stanzin (@kstanzinladakh) <a href="https://twitter.com/kstanzinladakh/status/1752323717323968671?ref_src=twsrc%5Etfw">January 30, 2024</a></blockquote>

<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<a href="#" id="jqclosemark">×</a>

"I would like to thank #IndianArmy for such strong civil-military relations &amp; looking after the interests of the border area population," he said adding, "I salute our nomads, who always stand to protect our land and stand as the second guardian force of the nation."&nbsp;

<h2>When did the incident take place?&nbsp;</h2>

As per reports, the incident took place earlier this month. The video showed a standoff between at least three Chinese armored vehicles and the shepherds.

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/varanasi-court-grants-hindu-devotees-worship-rights-in-sealed-gyanvapi-mosque-basement-685470">Varanasi Court grants Hindu devotees worship rights in sealed Gyanvapi Mosque basement</a>

Despite alarms blaring from the vehicles, the shepherds stood their ground, vehemently asserting their presence on Indian territory.

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/india-budget-2024-what-to-watch-out-for-685447">India Budget 2024: What to watch out for?</a>

Even after the verbal confrontation, the footage does not show any violent act taking place.

<section>
Watch |&nbsp;<a href="https://www.wionews.com/videos/arun-yogiraj-speaks-about-inspiration-behind-idol-of-lord-ram-685468">Arun Yogiraj speaks about inspiration behind idol of Lord Ram</a>

<iframe allowfullscreen="" autoplay="1" frameborder="0" height="350" src="https://www.wionews.com/videos/arun-yogiraj-speaks-about-inspiration-behind-idol-of-lord-ram-685468/embed" width="560"></iframe>
<a href="#" id="jqclosemark">×</a>

As per the visuals, Chinese soldiers were not carrying any weapons with them.&nbsp;
</section>

(With inputs from agencies)

&nbsp;

Near Line of Actual Control (LAC), the India-China border, a group of Ladakh shepherds displayed remarkable courage as they confronted Chinese soldiers attempting to obstruct them from grazing sheep, media reports said citing video footage.

Near Line of Actual Control (LAC), the India-China border, a group of Ladakh shepherds displayed remarkable courage as they confronted Chinese soldiers attempting to obstruct them from grazing sheep, media reports said citing video footage. The viral video capturing the confrontation has garnered widespread admiration for the shepherds on social media. Following the Galwan Valley clash in 2020, where a violent confrontation broke out between Indian and Chinese soldiers on the night of June 15-16 in the border region of Ladakh, local shepherds had refrained from grazing animals in the area. The shepherds, seen in the widely-circulated video, reclaimed their grazing rights in the region and compelled People's Liberation Army (PLA) soldiers to withdraw, an act which is now hugely appreciated on social media platforms. Chushul councillor Konchok Stanzin commended the resilience of the shepherds. "It is heartening to see the positive impact made by @firefurycorps_IA in Border areas of Eastern Ladakh in facilitating the graziers and nomads to assert their rights in traditional grazing grounds along the north bank of Pangong," he wrote in a social media post. It is heartening to see the positive impact made by @firefurycorps_IA in Border areas of Eastern Ladakh in facilitating the graziers & nomads to assert their rights in traditional grazing grounds along the north bank of Pangong. I would like to thank #IndianArmy for such strong… pic.twitter.com/yNIBatPRKE — Konchok Stanzin (@kstanzinladakh) January 30, 2024 × "I would like to thank #IndianArmy for such strong civil-military relations & looking after the interests of the border area population," he said adding, "I salute our nomads, who always stand to protect our land and stand as the second guardian force of the nation." When did the incident take place? As per reports, the incident took place earlier this month. The video showed a standoff between at least three Chinese armored vehicles and the shepherds. Also Read | Varanasi Court grants Hindu devotees worship rights in sealed Gyanvapi Mosque basement Despite alarms blaring from the vehicles, the shepherds stood their ground, vehemently asserting their presence on Indian territory. Also Read | India Budget 2024: What to watch out for? Even after the verbal confrontation, the footage does not show any violent act taking place. Watch | Arun Yogiraj speaks about inspiration behind idol of Lord Ram × As per the visuals, Chinese soldiers were not carrying any weapons with them. (With inputs from agencies)

WATCH | Ladakh shepherds stand firm against Chinese troops, draw applause from Indian netizens

The world's fifth-largest economy is waiting for the interim budget scheduled to be presented on February 1, 2024, by Finance Minister Nirmala Sitharaman. This will be her sixth budget in a row as finance minister in Prime Minister Narendra Modi's cabinet, ahead of crucial national elections in the spring in which Modi is seeking a third consecutive term in power.&nbsp;

According to tech startups cited in the media, they are hoping&nbsp;that Sitharaman will announce measures to strengthen the focus on supporting them develop more intellectual property within the country.&nbsp;

Furthermore, there appears to be unanimity on the need to boost Research and Development within the country.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/budget-2024-indias-start-up-ecosystem-seeks-redemption-after-a-tepid-2023-685370">Budget 2024: India’s start-up ecosystem seeks redemption after a tepid 2023</a>&nbsp;

"In my opinion, startups in the current ecosystem require streamlined regulations and government support for initial R&amp;D funding to compete globally," Milan Sharma, founder and MD, 35North Ventures told Zee Business.&nbsp;

"For investors, better alignment of taxation on unlisted equities would allow better capital inflow," Sharma added.

<h2>Call for tax benefits for startup investors</h2>

According to Ravi Gupta, founder of Guptaji Invests, tax benefits must be given to the startup investors.&nbsp;

Gupta told Zee Business that startup investors take "the highest risk by investing in an asset class that has the lowest success ratio".&nbsp;

Also watch |&nbsp;India Budget 2024: President Murmu praises defence production crossing Rs 1 lakh-crore mark

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-budget-2024-president-murmu-praises-defence-production-crossing-rs-1-lakh-crore-mark-685425/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

"The more strategic investments happen in fundable startups, the more India as a nation will become a better place to live, as what a proper startup does is solve a burning problem. But precautionary measures should be taken so that India will not become a 'tax haven' and investors don't do money laundering," Gupta added.

"Due to the Angel tax levy, investments are not happening much in the highest-risk asset class startups. Tax benefits to startups should be increased from 3 years to 5 years or more. The government should not consider it a revenue loss but rather an investment from the government side for a brighter future, a better India, and the best-case scenario to make India the best nation of all," he said.

From just 350 in 2014, India had over 90,000 start-ups in 2023. At least 111 of them are unicorns, start-ups that are valued at over $1 billion. India now has the third-largest start-up ecosystem in the world.&nbsp;

The world's fifth-largest economy is waiting for the interim budget scheduled to be presented on February 1, 2024, by Finance Minister Nirmala Sitharaman. This will be her sixth budget in a row as finance minister in Prime Minister Narendra Modi's cabinet, ahead of crucial national elections in the spring in which Modi is seeking a third consecutive term in power.

The world's fifth-largest economy is waiting for the interim budget scheduled to be presented on February 1, 2024, by Finance Minister Nirmala Sitharaman. This will be her sixth budget in a row as finance minister in Prime Minister Narendra Modi's cabinet, ahead of crucial national elections in the spring in which Modi is seeking a third consecutive term in power. According to tech startups cited in the media, they are hoping that Sitharaman will announce measures to strengthen the focus on supporting them develop more intellectual property within the country. Furthermore, there appears to be unanimity on the need to boost Research and Development within the country. Also read | Budget 2024: India’s start-up ecosystem seeks redemption after a tepid 2023 "In my opinion, startups in the current ecosystem require streamlined regulations and government support for initial R&D funding to compete globally," Milan Sharma, founder and MD, 35North Ventures told Zee Business. "For investors, better alignment of taxation on unlisted equities would allow better capital inflow," Sharma added. Call for tax benefits for startup investors According to Ravi Gupta, founder of Guptaji Invests, tax benefits must be given to the startup investors. Gupta told Zee Business that startup investors take "the highest risk by investing in an asset class that has the lowest success ratio". Also watch | India Budget 2024: President Murmu praises defence production crossing Rs 1 lakh-crore mark × "The more strategic investments happen in fundable startups, the more India as a nation will become a better place to live, as what a proper startup does is solve a burning problem. But precautionary measures should be taken so that India will not become a 'tax haven' and investors don't do money laundering," Gupta added. "Due to the Angel tax levy, investments are not happening much in the highest-risk asset class startups. Tax benefits to startups should be increased from 3 years to 5 years or more. The government should not consider it a revenue loss but rather an investment from the government side for a brighter future, a better India, and the best-case scenario to make India the best nation of all," he said. From just 350 in 2014, India had over 90,000 start-ups in 2023. At least 111 of them are unicorns, start-ups that are valued at over $1 billion. India now has the third-largest start-up ecosystem in the world.

India Budget 2024: What startups expect from Finance Minister Nirmala Sitharaman

india

India, News on India, stories on India, articles on India, India stories at Wion, India news, India latest news