India and the U.S. have come together to counter military challenge from China. New Delhi and Washington are fleshing out ways to share technology at the highest level, including building jet engines together. Molly Gambhir tells you.

Gravitas: India, U.S. unite to counter military challenge from China

Industrialist Gautam Adani is not the richest Indian in the world anymore as Reliance Industries Chairman and Managing Director Mukesh Ambani replaced him following the Hindenburg report fiasco. The new rankings were published in the Forbes Real-time Billionaires list.

With this, Gautam Adani who was earlier in the third spot, slipped down to seventh place in the Bloomberg Billionaires Index on Tuesday.

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US-based short-seller Hindenburg Research severely criticised Indian conglomerate Adani in a 24 January report ahead of its flagship company's $2.5 billion share sale, triggering a $70 billion rout in the group's domestically listed stocks and a sell-off in its bonds listed overseas.

Hindenburg disclosed that it holds short positions in Adani companies through US-traded bonds and non-Indian-traded derivative instruments.

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It released a report alongside that accused the conglomerate of improper use of tax havens and flagged concerns about its debt levels. The Adani group has called the report baseless and termed the allegations "unsubstantiated speculations".

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India's capital markets regulator, the Securities and Exchange Board of India, has investigated some of these issues over the past year following local media reports.

Reuters reported the regulator will continue this scrutiny and draw on any fresh information in the Hindenburg report.

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Industrialist Gautam Adani is not the richest Indian in the world anymore as Reliance Industries Chairman and Managing Director Mukesh Ambani replaced him following the Hindenburg report fiasco.

Industrialist Gautam Adani is not the richest Indian in the world anymore as Reliance Industries Chairman and Managing Director Mukesh Ambani replaced him following the Hindenburg report fiasco. The new rankings were published in the Forbes Real-time Billionaires list. With this, Gautam Adani who was earlier in the third spot, slipped down to seventh place in the Bloomberg Billionaires Index on Tuesday. Also Read | Canada’s three-year pilot programme to decriminalise possession of illicit drugs begins in BC US-based short-seller Hindenburg Research severely criticised Indian conglomerate Adani in a 24 January report ahead of its flagship company's $2.5 billion share sale, triggering a $70 billion rout in the group's domestically listed stocks and a sell-off in its bonds listed overseas. Hindenburg disclosed that it holds short positions in Adani companies through US-traded bonds and non-Indian-traded derivative instruments. Also Read | Green Comet 2023: Check date, time and location; know when and how to view the rare shooting star It released a report alongside that accused the conglomerate of improper use of tax havens and flagged concerns about its debt levels. The Adani group has called the report baseless and termed the allegations "unsubstantiated speculations". Watch | China: Beijing says city has achieved 'temporary herd immunity' India's capital markets regulator, the Securities and Exchange Board of India, has investigated some of these issues over the past year following local media reports. Reuters reported the regulator will continue this scrutiny and draw on any fresh information in the Hindenburg report. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

After Hindenburg report, Mukesh Ambani replaces Gautam Adani as richest Indian

As the stock and bond prices of Gautam Adani's conglomerate plunge to new lows, concern about the Indian billionaire's access to finance grows in the wake of fraud claims made by short seller Hindenburg Research.

India: Adani Group's turmoil deepens

The upcoming Mumbai - Delhi expressway which will be inaugurated on Feb 12 and be operational by Feb end. WION’s Disha Shah tells you more.

Delhi-Mumbai expressway to be inaugurated on Feb 12

US President Joe Biden's National Security Advisor Jake Sullivan and his Indian counterpart Ajit Doval met with some senior officials in Washington DC to launch India-US initiative on critical and emerging technologies.

WION Fineprint: Doval, Sullivan meet in Washington; US, India collaborate on major interests

India is gearing up for the Union Budget. Indian Finance Minister Nirmala Sitharaman has tabled the annual economic survey which is a report card for the centre to review how the economy has fared in the past year. Watch anchor Vikram Chandra in a conversation with Mukesh Butani as they talk more about the Union Budget 2023-24.

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India is gearing up for the Union Budget. Indian Finance Minister Nirmala Sitharaman has tabled the annual economic survey which is a report card for the centre to review how the economy has fared in the past year. Watch anchor Vikram Chandra in a conversation with PN Vijay and Mukesh Butani as they talk more about the Union Budget 2023-24.

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India is gearing up for the Union Budget. Indian Finance Minister Nirmala Sitharaman has tabled the annual economic survey which is a report card for the centre to review how the economy has fared in the past year. We list out the key takeaways from the economic survey.

Union Budget 2023 | Key takeaways from the Economic Survey

India is gearing up for the Union Budget. Indian Finance Minister Nirmala Sitharaman has tabled the annual economic survey which is a report card for the centre to review how the economy has fared in the past year. Watch anchor Vikram Chandra in a conversation with Jim Rogers as they talk more about the Union Budget 2023-24.

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WION's Neha Khanna and Jasper Reid decodes foreign investors expectations from India's upcoming budget 2023.

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India is gearing up for the Union Budget. Indian Finance Minister Nirmala Sitharaman has tabled the annual economic survey which is a report card for the centre to review how the economy has fared in the past year. Watch anchor Vikram Chandra in a conversation with Anshuman Magazine as they talk more about the Union Budget 2023-24.

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India is gearing up for the Union Budget. Indian Finance Minister Nirmala Sitharaman has tabled the annual economic survey which is a report card for the centre to review how the economy has fared in the past year. Watch anchor Vikram Chandra in a conversation with Dr. Jessica Seddon as they talk more about the Union Budget 2023-24.

Union Budget 2023: Dr. Jessica Seddon, Senior Fellow, Air Quality, at WRI speaks to WION

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India is gearing up for the Union Budget. Indian Finance Minister Nirmala Sitharaman has tabled the annual economic survey which is a report card for the centre to review how the economy has fared in the past year. Watch anchor Vikram Chandra in a conversation with PN Vijay as they talk more about the Union Budget 2023-24.

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India is gearing up for the Union Budget. Indian Finance Minister Nirmala Sitharaman has tabled the annual economic survey which is a report card for the centre to review how the economy has fared in the past year. Watch anchor Vikram Chandra in a conversation with Kamal Bali as they talk more about the Union Budget 2023-24.

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India is gearing up for the Union Budget. Indian Finance Minister Nirmala Sitharaman has tabled the annual economic survey which is a report card for the centre to review how the economy has fared in the past year. Watch anchor Vikram Chandra in a conversation with DK Joshi as they talk more about the Union Budget 2023-24.

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India is gearing up for the Union Budget. Indian Finance Minister Nirmala Sitharaman has tabled the annual economic survey which is a report card for the centre to review how the economy has fared in the past year. Watch anchor Vikram Chandra in a conversation with Amitabh Kant as they talk more about the Union Budget 2023-24.

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India has increased its monetary support for Bhutan and Maldives in its Budget 2023 announced on Wednesday. Afghanistan saw no change in allocation. Countries that saw a decrease in allocation were Bangladesh, Nepal, Sri Lanka, Myanmar, Mongolia, Mauritius, and Seychelles.

India's budget allocation for Afghanistan remains same, support increased to Bhutan, Maldives

India is gearing up for the Union Budget. Indian Finance Minister Nirmala Sitharaman has tabled the annual economic survey which is a report card for the centre to review how the economy has fared in the past year. We list out the key takeaways from the economic survey. Watch WION anchor Eric Njoka in a conversation with Dr. Kartikeya Singh as they talk more about the Union Budget 2023-24.

Union Budget 2023: Will government spend support growth or populism?

Union Finance Minister Nirmala Sitharaman&nbsp;addressed&nbsp;a press conference after presenting the Union Budget 2023-24, with its&nbsp;focus&nbsp;on&nbsp;empowering women, promoting&nbsp;tourism, PM's&nbsp;Vikas scheme, and&nbsp;green growth.&nbsp;Sitharaman spoke to the press and said that the country has been waiting for a direct tax system that is straightforward and simple to follow.

"We are not compelling anybody. Those who want to remain in the old tax regime can still remain there. But, the new one is attractive because it gives a greater rebate. It also provides for simplified and smaller slabs, lower rates of taxation and also slabs which are nicely broken down,” said Sitharaman.

The Budget's proposed reforms would exempt individuals with yearly incomes of up to Rs 7 lakh from paying taxes under the new system, but they would not affect people who continue to pay taxes under the previous system, which offers tax breaks and deductions for investments and expenses like HRA.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/budget-2023-pm-modi-says-steps-taken-to-empower-middle-class-ensure-ease-of-living-557883">Budget 2023: PM Modi says steps taken to empower middle class, ensure ease of living</a>

The finance minister in her Budget for 2023–24 permitted a basic deduction of Rs. 50,000 under the new regime, in what is perceived as an attempt to persuade the salaried class to transfer to the new tax system where no exemptions on investments are offered.

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In the Union Budget 2023-24, the Allocation for the Welfare of Scheduled Castes has been increased from ₹ 1,42,342.36 Crore to ₹ 1,59,126.22 Crore.<a href="https://twitter.com/hashtag/AmritKaalBudget?src=hash&amp;ref_src=twsrc%5Etfw">#AmritKaalBudget</a> <a href="https://twitter.com/hashtag/UnionBudget2023?src=hash&amp;ref_src=twsrc%5Etfw">#UnionBudget2023</a> <a href="https://twitter.com/PMOIndia?ref_src=twsrc%5Etfw">@PMOIndia</a> <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> <a href="https://twitter.com/AmitShah?ref_src=twsrc%5Etfw">@AmitShah</a> <a href="https://twitter.com/FinMinIndia?ref_src=twsrc%5Etfw">@FinMinIndia</a> <a href="https://twitter.com/nsitharaman?ref_src=twsrc%5Etfw">@nsitharaman</a> <a href="https://twitter.com/Drvirendrakum13?ref_src=twsrc%5Etfw">@Drvirendrakum13</a> <a href="https://twitter.com/ANarayana_swamy?ref_src=twsrc%5Etfw">@ANarayana_swamy</a> <a href="https://t.co/RRq63eUDXH">pic.twitter.com/RRq63eUDXH</a>
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An analogous deduction is allowed under the previous tax code, and there is no tax on income up to Rs 5 lakh.

The ultimate interest is to make the simpler (new) regime more attractive," Sitharaman said.

"I propose to extend the benefit of standard deduction to the new tax regime. Each salaried person with an income of Rs 15.5 lakh or more will thus stand to benefit by Rs 52,500," she added.

She added that the Prime Minister has given a vision for “LiFE", or Lifestyle for Environment, to spur a movement of environmentally conscious lifestyle.&nbsp;

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Video source: PIB

Sitharaman's also commemorated the&nbsp;Azadi Ka Amrit Mahotsav, a one-time new small savings scheme and the&nbsp;Mahila Samman Savings Certificate which&nbsp;will be made available for a two-year period up to March 2025, reported ANI.&nbsp;

The Mahila Samman Savings Patra has a deposit facility of up to Rs 2 lakh with a fixed interest rate of 7.5%.

"One-time new small saving under 'Mahila Samman Saving Patra'. The deposit facility for the women and girls will be for a period of two years with a rate of interest of 7.5 per cent," Sitharaman announced.

On the&nbsp;technology and finance front, Sitharaman said that the government&nbsp;is&nbsp;looking at a futuristic fintech sector where people will be trained through Industrial Revolution 4.0.&nbsp;

"People will be trained through Industrial Revolution 4.0, we are trying to unleash digital economy in various walks of life," she said in an address to the media.

Sitharaman presented the last full-fledged Union Budget of the Modi government on&nbsp; February 1 before the 2024 Lok Sabha elections.&nbsp;

(With inputs from agencies)

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Union Finance Minister Nirmala Sitharaman addressed a press conference after presenting the Union Budget 2023-24, with its focus on empowering women, promoting tourism, PM's Vikas scheme, and green growth.

Union Finance Minister Nirmala Sitharaman addressed a press conference after presenting the Union Budget 2023-24, with its focus on empowering women, promoting tourism, PM's Vikas scheme, and green growth. Sitharaman spoke to the press and said that the country has been waiting for a direct tax system that is straightforward and simple to follow. "We are not compelling anybody. Those who want to remain in the old tax regime can still remain there. But, the new one is attractive because it gives a greater rebate. It also provides for simplified and smaller slabs, lower rates of taxation and also slabs which are nicely broken down,” said Sitharaman. The Budget's proposed reforms would exempt individuals with yearly incomes of up to Rs 7 lakh from paying taxes under the new system, but they would not affect people who continue to pay taxes under the previous system, which offers tax breaks and deductions for investments and expenses like HRA. Also read | Budget 2023: PM Modi says steps taken to empower middle class, ensure ease of living The finance minister in her Budget for 2023–24 permitted a basic deduction of Rs. 50,000 under the new regime, in what is perceived as an attempt to persuade the salaried class to transfer to the new tax system where no exemptions on investments are offered. In the Union Budget 2023-24, the Allocation for the Welfare of Scheduled Castes has been increased from ₹ 1,42,342.36 Crore to ₹ 1,59,126.22 Crore.#AmritKaalBudget #UnionBudget2023 @PMOIndia @narendramodi @AmitShah @FinMinIndia @nsitharaman @Drvirendrakum13 @ANarayana_swamy pic.twitter.com/RRq63eUDXH — Ministry of Social Justice & Empowerment, GOI (@MSJEGOI) February 1, 2023 × An analogous deduction is allowed under the previous tax code, and there is no tax on income up to Rs 5 lakh. The ultimate interest is to make the simpler (new) regime more attractive," Sitharaman said. "I propose to extend the benefit of standard deduction to the new tax regime. Each salaried person with an income of Rs 15.5 lakh or more will thus stand to benefit by Rs 52,500," she added. She added that the Prime Minister has given a vision for “LiFE", or Lifestyle for Environment, to spur a movement of environmentally conscious lifestyle. × Video source: PIB Sitharaman's also commemorated the Azadi Ka Amrit Mahotsav, a one-time new small savings scheme and the Mahila Samman Savings Certificate which will be made available for a two-year period up to March 2025, reported ANI. The Mahila Samman Savings Patra has a deposit facility of up to Rs 2 lakh with a fixed interest rate of 7.5%. "One-time new small saving under 'Mahila Samman Saving Patra'. The deposit facility for the women and girls will be for a period of two years with a rate of interest of 7.5 per cent," Sitharaman announced. On the technology and finance front, Sitharaman said that the government is looking at a futuristic fintech sector where people will be trained through Industrial Revolution 4.0. "People will be trained through Industrial Revolution 4.0, we are trying to unleash digital economy in various walks of life," she said in an address to the media. Sitharaman presented the last full-fledged Union Budget of the Modi government on February 1 before the 2024 Lok Sabha elections. (With inputs from agencies) WATCH WION LIVE HERE:

No compulsion to make the shift, but new tax regime more attractive, says FM Nirmala Sitharaman

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The world is battling a climate emergency, stopping climate change is doable but time is running out. India is working to reduce carbon emission on a massive scale, presenting the budget, the country's Finance Minister Nirmala Sitharaman listed green growth as the key priority for the country.

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Two Polish nationals died and 19 others were rescued after a group of tourists were hit by a massive avalanche at the famous ski resort of Gulmarg in Jammu and Kashmir, police said.

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