An American Research agency has uncovered a monumental shift in China's lending strategy from 2000 to 2021. Chinese financial institutions have reportedly paid a staggering $1.34 trillion into developing nations more eye-catching has been its radical shift from traditional infrastructure Investments to what's been called rescue lending.

China's changing role from investor to a rescue lender

The GST Council, during its recent meeting chaired by Finance Minister Nirmala Sitharaman, made a significant recommendation regarding the tax rates for flour containing at least 70 per cent millets. The decision aims to support the promotion of millets during what has been termed the "year of millets."

Under the new recommendation, food preparations of millet flour in powder form, consisting of a minimum of 70 per cent millets by weight, fall under HS 1901.

When millet flour is blended with other flours and the millet composition remains at 70 per cent, it will be subject to zero per cent GST if sold in a form other than pre-packaged and labelled. However, if sold in pre-packaged and labelled form, a 5 per cent GST will apply.

Finance Minister Sitharaman emphasised the council's desire to actively participate in promoting millets, highlighting the role of GST in this project.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/pm-modis-assassination-threat-demands-for-bishnois-release-in-email-triggers-heightened-security-report-643585">PM Modi’s assassination threat, gangster Bishnoi’s release demand in email triggers security alarm: Report</a>

<h2>Official release confirms GST rates</h2>

An official release subsequently clarified the decision on GST rates for "food preparation of millet flour in powder form, containing at least 70 per cent millets by weight," falling under HS 1901.

The new rates will come into effect from the date of notification. The release confirms that these products will be subject to zero per cent GST if sold in forms other than pre-packaged and labeled, and a 5 per cent GST if sold in pre-packaged and labelled form.

Also watch |&nbsp;India begin World Cup campaign against Australia

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This decision reflects the government's ongoing commitment to encouraging the consumption of millets, which are known for their nutritional benefits.

(With inputs from agencies)

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The GST Council, during its recent meeting chaired by Finance Minister Nirmala Sitharaman, made a significant recommendation regarding the tax rates for flour containing at least 70 per cent millets.

The GST Council, during its recent meeting chaired by Finance Minister Nirmala Sitharaman, made a significant recommendation regarding the tax rates for flour containing at least 70 per cent millets. The decision aims to support the promotion of millets during what has been termed the "year of millets." Under the new recommendation, food preparations of millet flour in powder form, consisting of a minimum of 70 per cent millets by weight, fall under HS 1901. When millet flour is blended with other flours and the millet composition remains at 70 per cent, it will be subject to zero per cent GST if sold in a form other than pre-packaged and labelled. However, if sold in pre-packaged and labelled form, a 5 per cent GST will apply. Finance Minister Sitharaman emphasised the council's desire to actively participate in promoting millets, highlighting the role of GST in this project. Also read | PM Modi’s assassination threat, gangster Bishnoi’s release demand in email triggers security alarm: Report Official release confirms GST rates An official release subsequently clarified the decision on GST rates for "food preparation of millet flour in powder form, containing at least 70 per cent millets by weight," falling under HS 1901. The new rates will come into effect from the date of notification. The release confirms that these products will be subject to zero per cent GST if sold in forms other than pre-packaged and labeled, and a 5 per cent GST if sold in pre-packaged and labelled form. Also watch | India begin World Cup campaign against Australia This decision reflects the government's ongoing commitment to encouraging the consumption of millets, which are known for their nutritional benefits. (With inputs from agencies) WATCH WION LIVE HERE:

No GST on flour with 70% millets if sold in loose form: FM Nirmala Sitharaman

The finance minister of India announced on Tuesday (September 5)&nbsp;that discussions are in progress for establishing a global framework to regulate crypto assets. She emphasised that effective regulation of cryptocurrencies would necessitate cooperation from all nations.

"India's (G20) presidency has put on the table key issues related to regulating or understanding that there should be a&nbsp;framework&nbsp;for handling issues related to&nbsp;crypto&nbsp;assets," Nirmala Sitharaman said at an event in the financial capital of Mumbai.

"Active discussions are happening," she added.&nbsp;

<h2>Delhi Metro operations</h2>

In preparation for the upcoming G20 Summit in New Delhi, the Delhi Police had&nbsp;taken steps with regard to Metro stations to enhance security measures, which they have now withdrawn.

They had previously requested the&nbsp;closure of certain metro stations and gates during the upcoming G20 summit<a href="https://indianexpress.com/article/cities/delhi/delhi-metro-station-gates-remain-shut-g20-summit-sept-8-10-8923203/">&nbsp;</a>in the city.

“The request letter for the closure of gates of 39 Metro Stations which was made vide this office letter…dated 02.09.2023 is hereby withdrawn administrative grounds,” the new order&nbsp;reads.&nbsp;

They had earlier&nbsp;instructed the Chief Security Commissioner to close certain metro station gates that provide access to the VVIP routes. According to a report by ANI, DCP Metro G Ram Gopal Naik sent a letter identifying 39 stations where action was necessary. Notably, stations such as Supreme Court, Janpath, Bhikaji Cama Place, Khan Market, and Dhaula Kuan had&nbsp;been categorised as "Sensitive stations."

The G20 Summit, scheduled to take place over two days starting on September 9, will host leaders and delegates from 40 countries, including the 20 member states. Prominent world leaders like US President Joe Biden, Canadian PM Justin Trudeau, French President Emmanuel Macron, as well as heads of international organisations like the World Bank and IMF, will attend the event.

Also watch |&nbsp;China signals Xi Jinping will not attend G20 summit in India

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New Delhi has been preparing for the G20 Summit for several months, which includes training personnel who will be deployed during the event. Additionally, preparations involve beautification efforts, such as planting ornamental plants at traffic roundabouts and fountains.

"All metro stations will operate except the Supreme Court metro station. We could close certain gates at sensitive areas but this is subject to security restrictions. This will be done for 10-15 mins only. Other operations will run smoothly,” Special Commissioner of Police (Traffic) Surender Singh Yadav told the Indian Express.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/india-news/g20-summit-in-delhi-trends-show-gaps-in-leaders-attendance-each-year-631820">G20 summit in Delhi: Trends show gaps in leaders’ attendance each year</a>

In anticipation of increased passenger traffic during the summit, the Delhi Metro Rail Corporation has announced the sale of "Tourist smart cards" from September 4 to 13 at 36 dedicated metro station counters. These cards will continue to be available on regular days as well and will be sold for a period of 10 days.

(With inputs from agencies)

&nbsp;

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The finance minister of India announced on Tuesday (September 5) that discussions are in progress for establishing a global framework to regulate crypto assets. She emphasised that effective regulation of cryptocurrencies would necessitate cooperation from all nations.

The finance minister of India announced on Tuesday (September 5) that discussions are in progress for establishing a global framework to regulate crypto assets. She emphasised that effective regulation of cryptocurrencies would necessitate cooperation from all nations. "India's (G20) presidency has put on the table key issues related to regulating or understanding that there should be a framework for handling issues related to crypto assets," Nirmala Sitharaman said at an event in the financial capital of Mumbai. "Active discussions are happening," she added. Delhi Metro operations In preparation for the upcoming G20 Summit in New Delhi, the Delhi Police had taken steps with regard to Metro stations to enhance security measures, which they have now withdrawn. They had previously requested the closure of certain metro stations and gates during the upcoming G20 summit in the city. “The request letter for the closure of gates of 39 Metro Stations which was made vide this office letter…dated 02.09.2023 is hereby withdrawn administrative grounds,” the new order reads. They had earlier instructed the Chief Security Commissioner to close certain metro station gates that provide access to the VVIP routes. According to a report by ANI, DCP Metro G Ram Gopal Naik sent a letter identifying 39 stations where action was necessary. Notably, stations such as Supreme Court, Janpath, Bhikaji Cama Place, Khan Market, and Dhaula Kuan had been categorised as "Sensitive stations." The G20 Summit, scheduled to take place over two days starting on September 9, will host leaders and delegates from 40 countries, including the 20 member states. Prominent world leaders like US President Joe Biden, Canadian PM Justin Trudeau, French President Emmanuel Macron, as well as heads of international organisations like the World Bank and IMF, will attend the event. Also watch | China signals Xi Jinping will not attend G20 summit in India New Delhi has been preparing for the G20 Summit for several months, which includes training personnel who will be deployed during the event. Additionally, preparations involve beautification efforts, such as planting ornamental plants at traffic roundabouts and fountains. "All metro stations will operate except the Supreme Court metro station. We could close certain gates at sensitive areas but this is subject to security restrictions. This will be done for 10-15 mins only. Other operations will run smoothly,” Special Commissioner of Police (Traffic) Surender Singh Yadav told the Indian Express. Also read | G20 summit in Delhi: Trends show gaps in leaders’ attendance each year In anticipation of increased passenger traffic during the summit, the Delhi Metro Rail Corporation has announced the sale of "Tourist smart cards" from September 4 to 13 at 36 dedicated metro station counters. These cards will continue to be available on regular days as well and will be sold for a period of 10 days. (With inputs from agencies) WATCH WION LIVE HERE:

G20 chair India to engage in discussions for global crypto regulatory framework

In Brazil, President Lula has unveiled an ambitious plan to address the country's fiscal challenges. Lula's economic team has introduced a series of measures aimed at generating additional revenue and achieving a balanced budget. The focus of these measures? Taxing closed-end and offshore funds, typically accessible to affluent investors.

Brazil's Tax Overhaul: President Lula's bid for fairer finances

On the Indian economic front, India's gross domestic product has in fact grown at a very impressive 7.8 per cent for the April to June quarter.

India's growth story gets a boost: GDP grew at 7.4%

In a major development in the field of nature conservation, environment leaders from 185 countries gathered in Canada's Vancouver on Thursday to launch a global fund for protecting the nature from catastrophic events like climate change.

Financial boost to conservation efforts

There's a big development in the world of Finance Blackstone the private equity Firm has reached a major milestone. It is now the first private firm to manage one trillion dollars in assets. It is a big accomplishment for the Equity Firm amid a slump in global deal-making which has also affected the firm's profits in the second quarter.

Blackstone achieves feat amid slowdown in global deals

Anti-government demonstrators in Kenya lit bonfires and barricaded major roads in the capital Friday as part of nationwide protests against the government’s plans to increase taxes. Police detained more than 20 protesters.

Kenya: Police clash with anti-tax hike protesters, dozens arrested

US Treasury Secretary Janet Yellen on her third day of the China trip said it is 'critical' for Washington and Beijing to work together on climate finance.&nbsp; Addressing a roundtable of experts, Yellen called global warming an "existential threat"&nbsp;and urged for&nbsp;deeper cooperation between the two nations.&nbsp;

"Continued U.S.-China cooperation on climate finance is critical. As the world's two largest emitters of greenhouse gases and the largest investors in renewable energy, we have both a joint responsibility –- and ability -– to lead the way," said Jellen.&nbsp;

"Climate change is at the top of the list of global challenges, and the United States and China must work together to address this existential threat," she added.&nbsp;

Yellen pressed Beijing to support environmental, multilateral institutions like the Green Climate Fund and called upon the private sector to transition towards net zero.&nbsp; 
 
"Financing for such initiatives should be coordinated efficiently and effectively," she said, adding that Beijing's support for existing multilateral climate institutions like the Green Climate Fund (GCF) and the Climate Investment Funds, alongside the Washington and others, could boost their impact.

"Both our economies seek to support partners in emerging markets and developing countries as they strive to meet their climate goals, and I believe continued US-China cooperation on climate finance is critical." 
 
China&nbsp;resists&nbsp;paying into such funds, arguing that it is also a developing nation.&nbsp;Beijing&nbsp;says it is the responsibility of the developed&nbsp;nations to help poor countries to address climate change.

<h2>Good cop, bad cop</h2>

Yellen's trip to China is being seen as an attempt to repair the broken ties between the two countries, according to experts. Throughout the trip, Yellen has been playing the good cop, bad cop routine.&nbsp;

On Friday, during one of the addresses, Yellen criticised&nbsp;China's punitive measures against US companies but added that complete decoupling of the US and Chinese economies was "impossible".&nbsp;

"We seek to diversify, not to decouple. A decoupling of the world's two largest economies would be destabilising for the global economy," Yellen told representatives of US businesses at a session hosted by the American Chamber of Commerce in Beijing.

"And it would be virtually impossible to undertake."

Watch | Xi Jinping sees red as US&nbsp;aims to curtail technology investment in China | Yellen in Beijing

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<h2>Avoid misunderstandings: Yellen</h2>

Shortly after the arrival, Yellen posted a series of tweets wherein she hoped that Washington and Beijing are able to 'communicate and avoid miscommunication'.&nbsp;

"We seek a healthy economic competition that benefits American workers and firms and to collaborate on global challenges," Yellen wrote on Twitter.

"We will take action to protect our national security when needed, and this trip presents an opportunity to communicate and avoid miscommunication or misunderstanding."

<a href="http://13.235.153.162/world/avoid-miscommunication-yellen-after-arriving-in-beijing-on-four-day-trip-612907">Also read |&nbsp;'Avoid miscommunication...': Yellen after arriving in Beijing on four-day trip</a>

Yellen's visit to China comes a few weeks after&nbsp;Secretary of State Antony Blinken travelled to Beijing and met President Xi Jinping.&nbsp;The Biden administration, in recent months, has set about to thaw the icing relations after the US military shot down a Chinese government spy balloon over the United States.

With Biden likely to meet Xi at&nbsp;the G20 Summit in New Delhi in September, the groundwork is being laid out by the visit of top leaders, to ensure a smooth channel of communication is developed.&nbsp;

(With inputs from agencies)

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US Treasury Secretary Janet Yellen on her third day of the China trip said it is 'critical' for Washington and Beijing to work together on climate finance. Addressing a roundtable of experts, Yellen called global warming an "existential threat" and urged for deeper cooperation between the two nations.

US Treasury Secretary Janet Yellen on her third day of the China trip said it is 'critical' for Washington and Beijing to work together on climate finance. Addressing a roundtable of experts, Yellen called global warming an "existential threat" and urged for deeper cooperation between the two nations. "Continued U.S.-China cooperation on climate finance is critical. As the world's two largest emitters of greenhouse gases and the largest investors in renewable energy, we have both a joint responsibility –- and ability -– to lead the way," said Jellen. "Climate change is at the top of the list of global challenges, and the United States and China must work together to address this existential threat," she added. Yellen pressed Beijing to support environmental, multilateral institutions like the Green Climate Fund and called upon the private sector to transition towards net zero. "Financing for such initiatives should be coordinated efficiently and effectively," she said, adding that Beijing's support for existing multilateral climate institutions like the Green Climate Fund (GCF) and the Climate Investment Funds, alongside the Washington and others, could boost their impact. "Both our economies seek to support partners in emerging markets and developing countries as they strive to meet their climate goals, and I believe continued US-China cooperation on climate finance is critical." China resists paying into such funds, arguing that it is also a developing nation. Beijing says it is the responsibility of the developed nations to help poor countries to address climate change. Good cop, bad cop Yellen's trip to China is being seen as an attempt to repair the broken ties between the two countries, according to experts. Throughout the trip, Yellen has been playing the good cop, bad cop routine. On Friday, during one of the addresses, Yellen criticised China's punitive measures against US companies but added that complete decoupling of the US and Chinese economies was "impossible". "We seek to diversify, not to decouple. A decoupling of the world's two largest economies would be destabilising for the global economy," Yellen told representatives of US businesses at a session hosted by the American Chamber of Commerce in Beijing. "And it would be virtually impossible to undertake." Watch | Xi Jinping sees red as US aims to curtail technology investment in China | Yellen in Beijing × Avoid misunderstandings: Yellen Shortly after the arrival, Yellen posted a series of tweets wherein she hoped that Washington and Beijing are able to 'communicate and avoid miscommunication'. "We seek a healthy economic competition that benefits American workers and firms and to collaborate on global challenges," Yellen wrote on Twitter. "We will take action to protect our national security when needed, and this trip presents an opportunity to communicate and avoid miscommunication or misunderstanding." Also read | 'Avoid miscommunication...': Yellen after arriving in Beijing on four-day trip Yellen's visit to China comes a few weeks after Secretary of State Antony Blinken travelled to Beijing and met President Xi Jinping. The Biden administration, in recent months, has set about to thaw the icing relations after the US military shot down a Chinese government spy balloon over the United States. With Biden likely to meet Xi at the G20 Summit in New Delhi in September, the groundwork is being laid out by the visit of top leaders, to ensure a smooth channel of communication is developed. (With inputs from agencies) WATCH WION LIVE HERE:

Yellen seeks China's cooperation on climate finance to tackle ‘existential threat’

As a millennial, the words "smart earnings" are not too common in our vocabulary. We constantly hear people discussing it, but we convince ourselves that we do not have time to start making smart monetary decisions in the quest for a better future. All this can change with a simple switch in mindset and outlook.

Smart earning can only be done when you have a smart financial plan. According to Arun Singh Tanwar, founder and CEO of Get Together Finance, the ideal plan of financial planning is using his 50-30-20 rule which means to put the first portion into investing, the second portion into saving and the third into expense at the starting stage of earning. Then after some time, one can allocate the first portion into investing, then expenses, and lastly saving.

After a few years when financial commitments are the highest, it should be switched first to expenses then saving and the last can be kept for investment.

But do millennials follow that? Sadly, many do not follow this plan which leads them to an unsecured financial future.

Following a plan for smart earning is essential! When it comes to earning and managing money, millennials face a unique set of obstacles as they are more prone to their traditional methods of earning such as renting.

Below you'll find some smart earning tips that will help you make and save money for your later years.

<h2>Invest in the stock market</h2>

Millennials should place a high priority on saving and investing for the future. One should make a budget that allows you to save a certain amount each month from your income for investment. Rather than spending your savings out of excitement, think about investing it and securing it for a better financial future. Also, introduce yourself to various investment choices like stocks, commodities and land, to diversify your investment to minimise your risks. You can also take advantage of compounding by dividends as it is the best source of generating passive income for millennials.

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/lifestyle/news-dont-care-about-logos-but-want-high-end-luxury-products-at-one-third-of-the-price-this-is-for-you-611420">Don't care about logos but want high-end luxury products at one-third of the price? This is for you</a>

<h2>Improving your financial literacy</h2>

Financial education is an important part of smart money management, but it's often overlooked by millennials. By taking financial education, you can learn about investing, budgeting, and personal finance strategies for yourself. There are numerous online resources, courses, books, and podcasts available for educating yourself with the required financial literacy. Remaining up to date with market trends and financial events is also a very important aspect of smart earning.

<h2>Be an affiliate marketer</h2>

Today is all about generating income by doing smart work. Once you start being digitally active, have platforms and have an audience, all you need to do is put creative ideas in front of them. These days Instagram, YouTube and other such platforms have given space to people to showcase their talent, teach their skills, sell products or services as affiliate marketers, talk about things they know, and share thoughts without any hassle.

<h2>Start your business online</h2>

Online platforms have made it much easier for millennials to start a business without any prior infrastructure or huge investments. If you are a manufacturer or wholesaler, you can sell your products on platforms like Amazon, Flipkart, Shopify, and so on. Alternatively, you can act as a middleman, purchasing the products from the manufacturers and reselling them under your brand on specific websites.

<h2>Embrace the gig economy</h2>

The gig economy provides millennials with numerous opportunities to supplement their income. By using platforms like Uber, Airbnb, or outsourcing sites, you can bring in money according to your very own preferences. There are numerous ways to monetise your skills and interests in the gig economy and earn smartly without the hassle

<h2>Learn marketable skills</h2>

Investing in your ability to learn marketable skills can significantly increase your earning potential. It is essential to keep up with industry trends because technology is constantly changing. You can get into higher-paying jobs, freelancing or even start your own business digitally if you learn skills like coding, social media management, or graphic design.

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/lifestyle/news-paris-haute-couture-week-fall-winter-2023-24-schedule-with-show-timings-schiaparelli-christian-dior--more-611306">Paris Haute Couture Week Fall-Winter 2023-24 schedule with show timings: Schiaparelli, Christian Dior &amp; more</a>

<h2>Exchange-traded Funds (ETFs)</h2>

For millennials looking to invest in the stock market, index funds or ETFs offer an excellent way to gain exposure to a broad range of stocks. These funds track the performance of an underlying index and provide diversification without requiring extensive research or frequent trading.

Millennials must adapt and implement effective earning strategies in this era of rapid technological advancement and economic uncertainty. The key to building a solid financial foundation is to embrace the gig economy, acquire marketable skills, start a side business, and make prudent financial decisions. Millennials can empower themselves to navigate the modern earning landscape and ensure a prosperous financial future by implementing these suggestions.

(Inputs by&nbsp;Arun Singh Tanwar, Founder and CEO of&nbsp;Get Together Finance - GTF)

As a millennial, the words "smart earnings" are not too common in our vocabulary. We constantly hear people discussing it, but we convince ourselves that we do not have time to start making smart monetary decisions in the quest for a better future.

As a millennial, the words "smart earnings" are not too common in our vocabulary. We constantly hear people discussing it, but we convince ourselves that we do not have time to start making smart monetary decisions in the quest for a better future. All this can change with a simple switch in mindset and outlook. Smart earning can only be done when you have a smart financial plan. According to Arun Singh Tanwar, founder and CEO of Get Together Finance, the ideal plan of financial planning is using his 50-30-20 rule which means to put the first portion into investing, the second portion into saving and the third into expense at the starting stage of earning. Then after some time, one can allocate the first portion into investing, then expenses, and lastly saving. After a few years when financial commitments are the highest, it should be switched first to expenses then saving and the last can be kept for investment. But do millennials follow that? Sadly, many do not follow this plan which leads them to an unsecured financial future. Following a plan for smart earning is essential! When it comes to earning and managing money, millennials face a unique set of obstacles as they are more prone to their traditional methods of earning such as renting. Below you'll find some smart earning tips that will help you make and save money for your later years. Invest in the stock market Millennials should place a high priority on saving and investing for the future. One should make a budget that allows you to save a certain amount each month from your income for investment. Rather than spending your savings out of excitement, think about investing it and securing it for a better financial future. Also, introduce yourself to various investment choices like stocks, commodities and land, to diversify your investment to minimise your risks. You can also take advantage of compounding by dividends as it is the best source of generating passive income for millennials. Also read: Don't care about logos but want high-end luxury products at one-third of the price? This is for you Improving your financial literacy Financial education is an important part of smart money management, but it's often overlooked by millennials. By taking financial education, you can learn about investing, budgeting, and personal finance strategies for yourself. There are numerous online resources, courses, books, and podcasts available for educating yourself with the required financial literacy. Remaining up to date with market trends and financial events is also a very important aspect of smart earning. Be an affiliate marketer Today is all about generating income by doing smart work. Once you start being digitally active, have platforms and have an audience, all you need to do is put creative ideas in front of them. These days Instagram, YouTube and other such platforms have given space to people to showcase their talent, teach their skills, sell products or services as affiliate marketers, talk about things they know, and share thoughts without any hassle. Start your business online Online platforms have made it much easier for millennials to start a business without any prior infrastructure or huge investments. If you are a manufacturer or wholesaler, you can sell your products on platforms like Amazon, Flipkart, Shopify, and so on. Alternatively, you can act as a middleman, purchasing the products from the manufacturers and reselling them under your brand on specific websites. Embrace the gig economy The gig economy provides millennials with numerous opportunities to supplement their income. By using platforms like Uber, Airbnb, or outsourcing sites, you can bring in money according to your very own preferences. There are numerous ways to monetise your skills and interests in the gig economy and earn smartly without the hassle Learn marketable skills Investing in your ability to learn marketable skills can significantly increase your earning potential. It is essential to keep up with industry trends because technology is constantly changing. You can get into higher-paying jobs, freelancing or even start your own business digitally if you learn skills like coding, social media management, or graphic design. Also read: Paris Haute Couture Week Fall-Winter 2023-24 schedule with show timings: Schiaparelli, Christian Dior & more Exchange-traded Funds (ETFs) For millennials looking to invest in the stock market, index funds or ETFs offer an excellent way to gain exposure to a broad range of stocks. These funds track the performance of an underlying index and provide diversification without requiring extensive research or frequent trading. Millennials must adapt and implement effective earning strategies in this era of rapid technological advancement and economic uncertainty. The key to building a solid financial foundation is to embrace the gig economy, acquire marketable skills, start a side business, and make prudent financial decisions. Millennials can empower themselves to navigate the modern earning landscape and ensure a prosperous financial future by implementing these suggestions. (Inputs by Arun Singh Tanwar, Founder and CEO of Get Together Finance - GTF)

Money Matters 101: Smart earning tips every millennial should know

Where taxes need to be paid, taxes need to be saved. Some forms of income attract lower taxes than others. Some income is tax-free. Some income is fully taxable. Other incomes fall between these two extremes. Tax planning is critical to save money and accomplishing your financial goals. It is crucial to plan your finances strategically to optimise tax savings and maximise your take-home income.

Tax planning also helps you to achieve your financial goals by reducing your tax liability and freeing up more money to invest. This can help you to build a stronger financial foundation and to build more assets for the future.

Old Vs. New Tax Regime

New tax regime is default tax regime whereas the older tax will be available to those who specifically opt for it. The new tax regime does not offer as many deductions and exemptions as the old tax regime. For most people under Rs. 7.5 lakh, it makes sense to opt for new tax regime and pay no tax.

Assess the Latest Tax Slabs and Rates

By knowing the applicable rates, you can structure your income and investments accordingly.

For example, the Finance Minister Nirmala Sitharaman announced in this year’s budget that under the new tax regime the rebate for income tax has been increased to Rs.7 lakh from the earlier limit of up to Rs.5 lakh. Other changes were also introduced under the tax slab for the new tax regime too. Apart from that surcharge rate on income of Rs.5 crore and above has been decreased from 37% to 25%. You must know the implementation of these changes on your income and tax liabilities.

Leverage Tax Deductions and Exemptions

Take full advantage of the available tax deductions and exemptions under the Income Tax Act. Consider popular deductions such as Section 80C (for investments in instruments like PPF, EPF, and tax-saving mutual funds), Section 80D (for health insurance premiums), and Section 24(b) (for home loan interest). Identify the maximum allowable limits and invest accordingly to optimise your tax savings.

Explore Tax-Saving Investments

Opt for tax-saving financial instruments such as the Public Provident Fund (PPF), Sukanya Samridhi Yojana (SSY), Senior Citizens Savings Scheme (SCSS), Life and Health Insurance, Tax Saving Mutual Funds etc. These investments not only offer tax benefits under Section 80C but also provide an opportunity for long-term wealth creation. Consider the lock-in periods, returns, and risks associated with each investment option to make informed decisions.

Consider Equity-Linked Savings Scheme (ELSS)

ELSS is a tax-saving mutual fund that offers the potential for capital appreciation along with tax benefits under Section 80C. By investing in ELSS, you can potentially save taxes and participate in the growth of the equity market. However, be mindful of the risks involved and consult with a financial advisor to align your investments with your risk appetite.

Avail Home Loan Benefits

If you have a home loan, ensure you utilize the tax benefits associated with it. Claim deductions on the principal amount (Section 80C) and interest paid (Section 24(b)). Additionally, if you are a first-time homebuyer, you may be eligible for an additional deduction under Section 80EEA. Analyse the tax implications and consult a tax professional to make the most of these provisions.

You can save Rs 1.5 lakh under Section 80C for the principal payment of your home loan, and on interest you can claim Rs 2 lakh under section 24B. Additional Rs 50,000 can be saved if the loan amount is Rs 35 lakh or less.

On stamp duty you can claim Rs 1.5 lakh under 80C and under 80EEA another Rs 1.5 lakh if the loan is taken between April 1 2019 to 31 March 2022.

Plan for Long-Term Capital Gains

When dealing with capital gains, be mindful of the holding periods to determine whether they are short-term or long-term. Long-term capital gains on equity investments may be taxed differently. Consider strategies such as tax harvesting or investing in tax-efficient mutual funds to minimise your tax liability.

Effective tax planning is essential for savings and increasing take-home income. By understanding the latest tax slabs, leveraging deductions, exploring tax-saving investments, and utilising home loan benefits, individuals can effectively save income tax and channel those savings towards their financial goals.

Adhil Shetty is the CEO of&nbsp;Bankbazaar.com

Where taxes need to be paid, taxes need to be saved. Some forms of income attract lower taxes than others. Some income is tax-free. Some income is fully taxable.

Where taxes need to be paid, taxes need to be saved. Some forms of income attract lower taxes than others. Some income is tax-free. Some income is fully taxable. Other incomes fall between these two extremes. Tax planning is critical to save money and accomplishing your financial goals. It is crucial to plan your finances strategically to optimise tax savings and maximise your take-home income. Tax planning also helps you to achieve your financial goals by reducing your tax liability and freeing up more money to invest. This can help you to build a stronger financial foundation and to build more assets for the future. Old Vs. New Tax Regime New tax regime is default tax regime whereas the older tax will be available to those who specifically opt for it. The new tax regime does not offer as many deductions and exemptions as the old tax regime. For most people under Rs. 7.5 lakh, it makes sense to opt for new tax regime and pay no tax. Assess the Latest Tax Slabs and Rates By knowing the applicable rates, you can structure your income and investments accordingly. For example, the Finance Minister Nirmala Sitharaman announced in this year’s budget that under the new tax regime the rebate for income tax has been increased to Rs.7 lakh from the earlier limit of up to Rs.5 lakh. Other changes were also introduced under the tax slab for the new tax regime too. Apart from that surcharge rate on income of Rs.5 crore and above has been decreased from 37% to 25%. You must know the implementation of these changes on your income and tax liabilities. Leverage Tax Deductions and Exemptions Take full advantage of the available tax deductions and exemptions under the Income Tax Act. Consider popular deductions such as Section 80C (for investments in instruments like PPF, EPF, and tax-saving mutual funds), Section 80D (for health insurance premiums), and Section 24(b) (for home loan interest). Identify the maximum allowable limits and invest accordingly to optimise your tax savings. Explore Tax-Saving Investments Opt for tax-saving financial instruments such as the Public Provident Fund (PPF), Sukanya Samridhi Yojana (SSY), Senior Citizens Savings Scheme (SCSS), Life and Health Insurance, Tax Saving Mutual Funds etc. These investments not only offer tax benefits under Section 80C but also provide an opportunity for long-term wealth creation. Consider the lock-in periods, returns, and risks associated with each investment option to make informed decisions. Consider Equity-Linked Savings Scheme (ELSS) ELSS is a tax-saving mutual fund that offers the potential for capital appreciation along with tax benefits under Section 80C. By investing in ELSS, you can potentially save taxes and participate in the growth of the equity market. However, be mindful of the risks involved and consult with a financial advisor to align your investments with your risk appetite. Avail Home Loan Benefits If you have a home loan, ensure you utilize the tax benefits associated with it. Claim deductions on the principal amount (Section 80C) and interest paid (Section 24(b)). Additionally, if you are a first-time homebuyer, you may be eligible for an additional deduction under Section 80EEA. Analyse the tax implications and consult a tax professional to make the most of these provisions. You can save Rs 1.5 lakh under Section 80C for the principal payment of your home loan, and on interest you can claim Rs 2 lakh under section 24B. Additional Rs 50,000 can be saved if the loan amount is Rs 35 lakh or less. On stamp duty you can claim Rs 1.5 lakh under 80C and under 80EEA another Rs 1.5 lakh if the loan is taken between April 1 2019 to 31 March 2022. Plan for Long-Term Capital Gains When dealing with capital gains, be mindful of the holding periods to determine whether they are short-term or long-term. Long-term capital gains on equity investments may be taxed differently. Consider strategies such as tax harvesting or investing in tax-efficient mutual funds to minimise your tax liability. Effective tax planning is essential for savings and increasing take-home income. By understanding the latest tax slabs, leveraging deductions, exploring tax-saving investments, and utilising home loan benefits, individuals can effectively save income tax and channel those savings towards their financial goals. Adhil Shetty is the CEO of Bankbazaar.com

It's tax time now: How to plan for a tension-free life

The merger between Housing Development Finance Corporation (HDFC) and HTFC Bank Limited in India is valued at $64 billion. Financial advisors involved in the merger are receiving low compensation, with approximately 18 advisors sharing a fee pool of just over $1 million.

Low compensation for advisors in $64 Billion HDFC bank merger raises concerns

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State-run banks' gross non-performing assets (GNPAs) from the credit card segment have doubled to 18 per cent at the end of FY23, the Reserve Bank of India said on Wednesday. It was about 9 per cent in the year-ago period and the same stood at around 15 per cent in September 2022, the central bank said in its biannual Financial Stability Report (FSR). 
 
The data release comes amid news reports stating that the RBI has been cautioning banks about the risks of unsecured books, which include credit cards, personal loans, and microfinance. 
 
The FSR released on Wednesday said at an overall level, there was a marginal uptick in the NPAs in the credit card&nbsp;receivables category for the banking system in FY23 at 2 per cent.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/indian-stock-market-hits-record-high-levels-know-whats-behind-the-rally-and-will-it-sustain-609700">Indian stock market hits record high levels; know what’s behind the rally, and will it sustain</a> 
 
Even as the state-run lenders showed heightened stress, private sector banks' GNPAs from credit card receivables remained broadly flat at 1.9 per cent, while the same was 1.8 per cent for foreign banks. 
 
At an overall level, the banking system's GNPAs fell to a 10-year-low of 3.9 per cent at the end of FY23, and are expected to improve further to 3.6 per cent by the end of FY24 under the baseline scenario, RBI said. 
 
Meanwhile, RBI said that high inflation coupled with a rise in borrowing costs adversely impacts the finances of households and their loan repayment capacity and stressed that this can have implications for lending banks. 
 
Identifying different measures of risks using individual home loan data, it found that a twin shock in the form of a simultaneous increase in inflation and lending rates can put even households with sustainable repayment capacity at risk and double the loans at risk.

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State-run banks' gross non-performing assets (GNPAs) from the credit card segment have doubled to 18 per cent at the end of FY23, the Reserve Bank of India said on Wednesday.

State-run banks' gross non-performing assets (GNPAs) from the credit card segment have doubled to 18 per cent at the end of FY23, the Reserve Bank of India said on Wednesday. It was about 9 per cent in the year-ago period and the same stood at around 15 per cent in September 2022, the central bank said in its biannual Financial Stability Report (FSR). The data release comes amid news reports stating that the RBI has been cautioning banks about the risks of unsecured books, which include credit cards, personal loans, and microfinance. The FSR released on Wednesday said at an overall level, there was a marginal uptick in the NPAs in the credit card receivables category for the banking system in FY23 at 2 per cent. Also read | Indian stock market hits record high levels; know what’s behind the rally, and will it sustain Even as the state-run lenders showed heightened stress, private sector banks' GNPAs from credit card receivables remained broadly flat at 1.9 per cent, while the same was 1.8 per cent for foreign banks. At an overall level, the banking system's GNPAs fell to a 10-year-low of 3.9 per cent at the end of FY23, and are expected to improve further to 3.6 per cent by the end of FY24 under the baseline scenario, RBI said. Meanwhile, RBI said that high inflation coupled with a rise in borrowing costs adversely impacts the finances of households and their loan repayment capacity and stressed that this can have implications for lending banks. Identifying different measures of risks using individual home loan data, it found that a twin shock in the form of a simultaneous increase in inflation and lending rates can put even households with sustainable repayment capacity at risk and double the loans at risk. WATCH WION LIVE HERE:

Credit card NPAs for state-run banks zoom to 18% at FY23-end: RBI

The Indian rupee was poised for its biggest monthly advance versus the US&nbsp;dollar since January, aided by persistent foreign equity inflows.&nbsp;

The rupee was little changed at 82.0450 to the dollar on Friday, having hovered around the 82 handle throughout this week.&nbsp; 
 
For the month, the rupee was up 0.8 per cent&nbsp;on the back of more than $3.5 billion of inflows into Indian equities that have pushed the BSE Sensex and the Nifty 50 Index to record highs. 
 
The "significant" foreign inflows have helped the rupee hang around the 82 level in the face of weakness in the Chinese yuan and the hawkish US&nbsp;Federal Reserve, said Amit Pabari, managing director at CR Forex.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/reserve-bank-of-india-keeps-repo-rate-unchanged-at-65-601979">Reserve Bank of India keeps Repo Rate unchanged at 6.5%</a> 
 
The rupee has fared better than most of the Asian peers in June. The offshore yuan is down about 2 per cent&nbsp;this month, the Thai baht has lost 2.4 per cent&nbsp;and the Indonesian rupiah is little changed.&nbsp; 
 
The offshore yuan has been weighed by the divergent US and China interest rate outlook and disappointment over the Asian nation's reopening recovery. 
 
The Fed's hawkish tone and recent robust US&nbsp;data have made it more likely that the central bank will opt for more rate hikes.&nbsp; 
 
On Thursday, the final print for first-quarter GDP growth came in at 2.0 per cent, higher than last month's 1.3 per cent&nbsp;reading and the 1.4 per cent forecast by economists polled by Reuters. US&nbsp;weekly claims for unemployment insurance dropped to 239,000 from last week's revised 265,000 number. 
 
Odds of a 25-basis point hike by the Fed next month reached nearly 85 per cent, and that for another in September or November rose.&nbsp; 
 
The 2-year US&nbsp;yield climbed to nearly 4.90 per cent&nbsp;overnight, the highest since March. The dollar index reached a two-week high.

WATCH WION LIVE HERE:&nbsp;

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The Indian rupee was poised for its biggest monthly advance versus the US dollar since January, aided by persistent foreign equity inflows. The rupee was little changed at 82.

The Indian rupee was poised for its biggest monthly advance versus the US dollar since January, aided by persistent foreign equity inflows. The rupee was little changed at 82.0450 to the dollar on Friday, having hovered around the 82 handle throughout this week. For the month, the rupee was up 0.8 per cent on the back of more than $3.5 billion of inflows into Indian equities that have pushed the BSE Sensex and the Nifty 50 Index to record highs. The "significant" foreign inflows have helped the rupee hang around the 82 level in the face of weakness in the Chinese yuan and the hawkish US Federal Reserve, said Amit Pabari, managing director at CR Forex. Also read | Reserve Bank of India keeps Repo Rate unchanged at 6.5% The rupee has fared better than most of the Asian peers in June. The offshore yuan is down about 2 per cent this month, the Thai baht has lost 2.4 per cent and the Indonesian rupiah is little changed. The offshore yuan has been weighed by the divergent US and China interest rate outlook and disappointment over the Asian nation's reopening recovery. The Fed's hawkish tone and recent robust US data have made it more likely that the central bank will opt for more rate hikes. On Thursday, the final print for first-quarter GDP growth came in at 2.0 per cent, higher than last month's 1.3 per cent reading and the 1.4 per cent forecast by economists polled by Reuters. US weekly claims for unemployment insurance dropped to 239,000 from last week's revised 265,000 number. Odds of a 25-basis point hike by the Fed next month reached nearly 85 per cent, and that for another in September or November rose. The 2-year US yield climbed to nearly 4.90 per cent overnight, the highest since March. The dollar index reached a two-week high. WATCH WION LIVE HERE:

Rupee heads for best monthly performance since Jan on portfolio inflows

Bankrate surveyed U.S. adults in April 2023 on how money affects their mental health. Watch the video to know more.

Most Americans are significantly stressed about money: Survey

President Ruto seeks to raise taxes in the run-up to Kenya’s 2022 polls, economic issues, particularly public debt, and joblessness took centre stage. The Kenya Kwanza team led by William Ruto suggested that Kenya had over-borrowed, a habit they pledged to stop. The proposals in the 2023 finance bill, some of which were rejected by the previous parliaments, paint a picture of a government keen on giving its revenue authority stronger teeth to bite while making it expensive to appeal tax demands in the event of a dispute.

Kenyans brace for higher taxes as new finance bill targets petrol, beauty products

After Switzerland's second-largest bank had to be saved last week by UBS, the Swiss financial regulator FINMA said it was debating whether to take disciplinary action against Credit Suisse (CSGN.S) managers (UBSG.S).

Swiss regulator: Credit Suisse could face disciplinary action

Credit Suisse is being taken over by UBS. Both are giant Swiss banks, but their investment banking arms operate all over the world. Swiss banking has the ultimate reputation for financial stability, so the slide into uncertainty for Credit Suisse, and the shotgun marriage to UBS, have left the Swiss rather dazed.

Why you should be worried if Credit Suisse collapses

U.S. stocks climbed Monday on hopes for stability in the banking sector after regulators engineered a deal for Swiss banking giant UBS to take over rival Credit Suisse.

Credit Suisse: European markets open in red, gains remain low

The shares of swiss lender Credit Suisse tumbled as much as 30% on Wednesday. The Credit Suisse turmoil resulted in torrid sessions in Europe and the united states overnight, as investors fretted about potential runs on global bank deposits. Asian markets slid Thursday, with contagion talk sweeping across trading floors, owing to fears about the swiss giant. Credit Suisse has announced it is borrowing $53.7 billion from the swiss Central Bank. Global markets have been rattled by the collapse of the silicon valley bank and signature bank, the sector's biggest failures since the 2008 financial crisis. Asian stocks followed wall street's tumble on Thursday. Investors bought gold, bonds and the dollar. while the bank's announcement helped trim some losses, trade was volatile and sentiment fragile. Credit Suisse is the first major global bank to be given a liquidity lifeline since the 2008 financial crisis.

Asian stocks tumble on Credit Suisse turmoil after torrid sessions in Europe & U.S. | Details

Matija Pecotic, the world tennis No 784, pulled off a shocking win in the Delray Beach Open and had to put in a request to acquire more time off from his day job. Pecotic's story is straight from a movie script. The 33-year-old,&nbsp;a world tennis No 784, plays part-time on the circuit and does a full-time job in finance. After emerging on top of former top-ten player Jack Sock (beating him 4-6, 6-2, 6-2), he&nbsp;needed more time off his primary job ahead of his face-off versus&nbsp;American world number 55 Marcos Giron in the Round of 16 on Thursday (February 16).

While Pecotic went down to Gorin in straight sets, losing 3-6, 3-6, he made a mark by reaching the last 16. In the game versus Sock, he hit&nbsp;10 aces and 30 winners in a&nbsp;match that spanned over two hours. After the fixture, he shared his journey on how he holds a full-time job in a real estate investment firm and had to leave work early to lock horns with Sock, with his boss keeping a close tab on him from the players’ box on the court.

After the win over Sock, Pecotic reacted by saying, "You've got to be realistic. This is a former top 10 guy with an incredible amount of tennis experience and a huge serve. He came out serving 134mph on the first serve. It would be arrogant to think I'm going to come out and expect to win."

Also Read:&nbsp;<a href="https://www.wionews.com/sports/wpl-star-studded-royal-challengers-bangalore-rope-in-india-tennis-legend-sania-mirza-as-mentor-562203">WPL: Sania Mirza joins star-studded Royal Challengers Bangalore as team mentor</a>

“But I certainly figured if I could sink my teeth into the match and work on the two or three patterns that I prepared before, that I’m going to have a chance. And then let’s see … if I was going to fall under pressure or not be able to serve it out at some point. But I didn’t and I got the win. I had to send an email to the whole team. [My boss] let me off. I’m going to have to ask for another day off [on Wednesday].”&nbsp;Pecotic added.

Pecotic revealed that he normally works from 9 am until 6 pm and plays tennis before going to&nbsp;work. “I absolutely love this game and I know it’s not forever and I’m 33. I try to maximise each day. I try to train every morning if I can, five, or six times a week. Sometimes I train with my boss, who is 70 years old. This week I trained with a guy who is probably in his late 50s. But you find creative ways to work around it," mentioned Pecotic, who has been hailed by many for carrying two jobs and putting in the hard yards each day.

Pecotic's run at Delray Beach Open came to an end on Thursday, with a defeat to Marcos Giron, but he certainly made heads turn with his inspiring story and how he manages to take out time for the game he loves. It is to be noted that his tennis career had come to a halt&nbsp;prior to the 2016 Australian Open. Back then,&nbsp;he was bedridden for eight months after picking up an infection following stomach surgery. Nonetheless, he reconnected to the game while studying at the Harvard Business School and gave himself one year, post-graduation, to climb up the ladder in professional tennis before the Covid-19 pandemic dented his plans.&nbsp;

With his impressive run in Delray Beach Open, Pecotic can be proud of his overall showing and hope to go the distance in his part-time job while also managing his full-time assignment in finance.

Matija Pecotic, the world tennis No 784, pulled off a shocking win in the Delray Beach Open and had to put in a request to acquire more time off from his day job.

Matija Pecotic, the world tennis No 784, pulled off a shocking win in the Delray Beach Open and had to put in a request to acquire more time off from his day job. Pecotic's story is straight from a movie script. The 33-year-old, a world tennis No 784, plays part-time on the circuit and does a full-time job in finance. After emerging on top of former top-ten player Jack Sock (beating him 4-6, 6-2, 6-2), he needed more time off his primary job ahead of his face-off versus American world number 55 Marcos Giron in the Round of 16 on Thursday (February 16). While Pecotic went down to Gorin in straight sets, losing 3-6, 3-6, he made a mark by reaching the last 16. In the game versus Sock, he hit 10 aces and 30 winners in a match that spanned over two hours. After the fixture, he shared his journey on how he holds a full-time job in a real estate investment firm and had to leave work early to lock horns with Sock, with his boss keeping a close tab on him from the players’ box on the court. After the win over Sock, Pecotic reacted by saying, "You've got to be realistic. This is a former top 10 guy with an incredible amount of tennis experience and a huge serve. He came out serving 134mph on the first serve. It would be arrogant to think I'm going to come out and expect to win." Also Read: WPL: Sania Mirza joins star-studded Royal Challengers Bangalore as team mentor “But I certainly figured if I could sink my teeth into the match and work on the two or three patterns that I prepared before, that I’m going to have a chance. And then let’s see … if I was going to fall under pressure or not be able to serve it out at some point. But I didn’t and I got the win. I had to send an email to the whole team. [My boss] let me off. I’m going to have to ask for another day off [on Wednesday].” Pecotic added. Pecotic revealed that he normally works from 9 am until 6 pm and plays tennis before going to work. “I absolutely love this game and I know it’s not forever and I’m 33. I try to maximise each day. I try to train every morning if I can, five, or six times a week. Sometimes I train with my boss, who is 70 years old. This week I trained with a guy who is probably in his late 50s. But you find creative ways to work around it," mentioned Pecotic, who has been hailed by many for carrying two jobs and putting in the hard yards each day. Pecotic's run at Delray Beach Open came to an end on Thursday, with a defeat to Marcos Giron, but he certainly made heads turn with his inspiring story and how he manages to take out time for the game he loves. It is to be noted that his tennis career had come to a halt prior to the 2016 Australian Open. Back then, he was bedridden for eight months after picking up an infection following stomach surgery. Nonetheless, he reconnected to the game while studying at the Harvard Business School and gave himself one year, post-graduation, to climb up the ladder in professional tennis before the Covid-19 pandemic dented his plans. With his impressive run in Delray Beach Open, Pecotic can be proud of his overall showing and hope to go the distance in his part-time job while also managing his full-time assignment in finance.

After shocking win at Delray Beach Open, Matija Pecotic asked for 'another day off' from full-time job

The United States-based planemaker, Boeing, on Monday (February 6) confirmed that they are going to cut about 2,000 white-collar jobs in the company’s finance and human resources departments through a combination of attrition and layoffs, as per media reports. This comes after a report in the Seattle Times which first reported about the possible “reductions this year” primarily in the two departments.&nbsp;

The Arlington, Virginia-based company said that it will continue to “simplify our corporate structure”, in the context of these job cuts. This comes a month after the planemaker announced that it will hire some 10,000 workers this year after hiring 15,000 people last year. However, at the time Boeing had said that it would cut some support positions.&nbsp;

Boeing has also confirmed that it will be outsourcing at least one-third of those jobs to Tata Consulting Services (TCS) in Bengaluru, India, as per media reports. Last month, the company also indicated that it would lower “staffing within some support functions” which was meant to enable it to better align resources to support current products and technology development.&nbsp;

“Over time, some of our corporate functions have grown quite large. And with that growth tends to come bureaucracy or disparate systems that are inefficient…So we’re streamlining,” said a senior director of communications at Boeing, Mike Friedman, to the Seattle Times. According to the report, there are some 5,800 employees in the company, out of which at least a quarter will be affected, with at least 1,500 jobs cut from finance and up to 400 more in human resources.&nbsp;

Additionally, Friedman also spoke about how the planemaker will make sure to hire more production workers and engineers which would ensure the overall growth of Boeing. In 2021, the planemaker had planned to cut more than 150 finance jobs in the US in a bid to simplify its corporate structure and focus on manufacturing and product development.&nbsp;

(With inputs from agencies)&nbsp; 
 
&nbsp;

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You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

The United States-based planemaker, Boeing, on Monday (February 6) confirmed that they are going to cut about 2,000 white-collar jobs in the company’s finance and human resources departments through a combination of attrition and layoffs, as per media reports.

The United States-based planemaker, Boeing, on Monday (February 6) confirmed that they are going to cut about 2,000 white-collar jobs in the company’s finance and human resources departments through a combination of attrition and layoffs, as per media reports. This comes after a report in the Seattle Times which first reported about the possible “reductions this year” primarily in the two departments. The Arlington, Virginia-based company said that it will continue to “simplify our corporate structure”, in the context of these job cuts. This comes a month after the planemaker announced that it will hire some 10,000 workers this year after hiring 15,000 people last year. However, at the time Boeing had said that it would cut some support positions. Boeing has also confirmed that it will be outsourcing at least one-third of those jobs to Tata Consulting Services (TCS) in Bengaluru, India, as per media reports. Last month, the company also indicated that it would lower “staffing within some support functions” which was meant to enable it to better align resources to support current products and technology development. “Over time, some of our corporate functions have grown quite large. And with that growth tends to come bureaucracy or disparate systems that are inefficient…So we’re streamlining,” said a senior director of communications at Boeing, Mike Friedman, to the Seattle Times. According to the report, there are some 5,800 employees in the company, out of which at least a quarter will be affected, with at least 1,500 jobs cut from finance and up to 400 more in human resources. Additionally, Friedman also spoke about how the planemaker will make sure to hire more production workers and engineers which would ensure the overall growth of Boeing. In 2021, the planemaker had planned to cut more than 150 finance jobs in the US in a bid to simplify its corporate structure and focus on manufacturing and product development. (With inputs from agencies) 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.

Boeing to cut at least 2,000 white-collar jobs in finance and HR; will outsource their work to TCS

After&nbsp;Manchester City's bid to bring down Arsenal's Premier League lead to two points was was ruined by&nbsp;Harry Kane's record-breaking goal in Tottenham Hotspur's 1-0 win over the champions, on Sunday (February 05), there is more trouble for the Erling Halaand-starrer club.

Man City have been referred to an independent commission over alleged breaches of Premier League finance rules. The development was confirmed by England's top-flight soccer league&nbsp;on Monday (February 06). It is to be noted that the breaches account from the 2009-10 season to the 2017-18 campaign.

'City are alleged to have breached rules relating to the provision of accurate financial information'

The Premier League said in a statement, "City are alleged to have breached rules relating to the provision of accurate financial information. The members of the Commission will be appointed by the independent Chair of the Premier League Judicial Panel. The proceedings before the Commission will... be confidential and heard in private.The Premier League will be making no further comment in respect of this matter until further notice."

<section>
Also Read: PL: <a href="https://www.wionews.com/sports/pl-spurs-harry-kanes-record-breaking-strike-dents-manchester-citys-hope-of-closing-in-gap-for-title-race-559153">Spurs' Harry Kane's record-breaking strike dents Manchester City's hope of closing in gap for title race</a>

Speaking of Man City's latest outing, they faced Tottenham Hotspur with an aim to narrow down top-ranked Arsenal's lead but conceded a 1-0 win to Harry Kane &amp; Co. courtesy the England captain's record-breaking strike. Scoring the solitary goal of the contest, Kane&nbsp;became&nbsp;the north London club's all-time top goal-scorer (267 strikes). Thus, he went past&nbsp;former great Jimmy Greaves who held the&nbsp;record for as many as 53 years (since 1970).

Despite the setback, City remain in second place -- with 45 points from 21 games -- whereas&nbsp;Arsenal have 50 points&nbsp;having played a game less. The two clubs are set to lock horns in what is expected to be a marquee contest&nbsp;in north London on February 15 (Wednesday).
</section>

After Manchester City's bid to bring down Arsenal's Premier League lead to two points was was ruined by Harry Kane's record-breaking goal in Tottenham Hotspur's 1-0 win over the champions, on Sunday (February 05), there is more trouble for the Erling Halaand-starrer club.

After Manchester City's bid to bring down Arsenal's Premier League lead to two points was was ruined by Harry Kane's record-breaking goal in Tottenham Hotspur's 1-0 win over the champions, on Sunday (February 05), there is more trouble for the Erling Halaand-starrer club. Man City have been referred to an independent commission over alleged breaches of Premier League finance rules. The development was confirmed by England's top-flight soccer league on Monday (February 06). It is to be noted that the breaches account from the 2009-10 season to the 2017-18 campaign. 'City are alleged to have breached rules relating to the provision of accurate financial information' The Premier League said in a statement, "City are alleged to have breached rules relating to the provision of accurate financial information. The members of the Commission will be appointed by the independent Chair of the Premier League Judicial Panel. The proceedings before the Commission will... be confidential and heard in private.The Premier League will be making no further comment in respect of this matter until further notice." Also Read: PL: Spurs' Harry Kane's record-breaking strike dents Manchester City's hope of closing in gap for title race Speaking of Man City's latest outing, they faced Tottenham Hotspur with an aim to narrow down top-ranked Arsenal's lead but conceded a 1-0 win to Harry Kane & Co. courtesy the England captain's record-breaking strike. Scoring the solitary goal of the contest, Kane became the north London club's all-time top goal-scorer (267 strikes). Thus, he went past former great Jimmy Greaves who held the record for as many as 53 years (since 1970). Despite the setback, City remain in second place -- with 45 points from 21 games -- whereas Arsenal have 50 points having played a game less. The two clubs are set to lock horns in what is expected to be a marquee contest in north London on February 15 (Wednesday).

Second-ranked Man City referred to independent commission for alleged breaches of PL finance rules

Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 and called it the "first Budget of Amrit Kaal", a reference to 75 years of India's independence. The term 'Amrit Kaal' was first used by PM Narendra Modi in 2021 during the 75th Independence Day celebrations.

Union Budget 2023 | Finance Minister: GST exemption on blended CNG

WION’s Pak Bureau Chief Anas Mallick had an interaction with Pakistan’s former poverty alleviation minister Dr. Sania Nishtar. She spoke on the former government's flood relief initiative along with the current financial crisis in Pakistan. Watch this video.

Pakistan’s former Poverty Alleviation Minister Dr. Sania Nishtar speaks to WION’s Anas Mallick

WION’s Anas Mallick had an interaction with Pakistan’s former poverty alleviation minister Dr. Sania Nishtar. She spoke on the former government's flood relief initiative along with the current financial crisis in Pakistan. Watch this video.

Pakistan’s former poverty alleviation minister Dr. Sania Nishtar speaks to WION’s Anas Mallick

Russia's federal budget deficit worsened to a record level in December, driven by limits on oil exports at a time when spending on the invasion of Ukraine increased, according to a Bloomberg report.

Last month's fiscal imbalance was a record-high of 3.9 trillion roubles ($56 billion), according to calculations by Bloomberg based on unofficial government statistics provided on Tuesday.

As a result, the annual shortfall increased to roughly 3.3 trillion roubles, turning around an excess in the first 11 months of the year. The Finance Ministry is anticipated to reveal more comprehensive data shortly.

However, the ministry did not immediately react to a request for comment, reported Bloomberg.

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According to preliminary figures, spending for the year increased by more than a third from pre-war projections. Government spending in Russia is mostly seasonal, with significant increases frequently occurring at the end of the year, resulting in a larger deficit.

In the first half, exports of high-priced goods like oil, gas, and other commodities helped offset spending increases, but the pattern is gradually changing.

Following the Group of Seven (G7) nations' imposition of a cap intended to curb the Kremlin's profits, the price of Russian oil plunged.

To make up the difference, the government has already begun to cut back on or postpone non-war spending and is considering raising taxes on some large corporations.

Also read |&nbsp;<a href="https://www.wionews.com/opinions-blogs/global-central-banks-credibility-at-risk-over-rising-inflation-raghuram-rajan-551094">Global central banks' credibility at risk over rising inflation: Raghuram Rajan</a>

Due to years of stringent measures implemented before the invasion, Russia's financial condition is robust despite the pressures.

According to projections, the deficit for this year will be 2 per cent of GDP, which is the same as the deficit for 2022. But,&nbsp;the current forecast is based on an oil price of $70 per barrel, about $20 above levels seen in December.

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Russia's federal budget deficit worsened to a record level in December, driven by limits on oil exports at a time when spending on the invasion of Ukraine increased, according to a Bloomberg report.

Russia's federal budget deficit worsened to a record level in December, driven by limits on oil exports at a time when spending on the invasion of Ukraine increased, according to a Bloomberg report. Last month's fiscal imbalance was a record-high of 3.9 trillion roubles ($56 billion), according to calculations by Bloomberg based on unofficial government statistics provided on Tuesday. As a result, the annual shortfall increased to roughly 3.3 trillion roubles, turning around an excess in the first 11 months of the year. The Finance Ministry is anticipated to reveal more comprehensive data shortly. However, the ministry did not immediately react to a request for comment, reported Bloomberg. Also read | Elon Musk breaks world record for largest-ever loss of personal fortune According to preliminary figures, spending for the year increased by more than a third from pre-war projections. Government spending in Russia is mostly seasonal, with significant increases frequently occurring at the end of the year, resulting in a larger deficit. In the first half, exports of high-priced goods like oil, gas, and other commodities helped offset spending increases, but the pattern is gradually changing. Following the Group of Seven (G7) nations' imposition of a cap intended to curb the Kremlin's profits, the price of Russian oil plunged. To make up the difference, the government has already begun to cut back on or postpone non-war spending and is considering raising taxes on some large corporations. Also read | Global central banks' credibility at risk over rising inflation: Raghuram Rajan Due to years of stringent measures implemented before the invasion, Russia's financial condition is robust despite the pressures. According to projections, the deficit for this year will be 2 per cent of GDP, which is the same as the deficit for 2022. But, the current forecast is based on an oil price of $70 per barrel, about $20 above levels seen in December. WATCH WION LIVE HERE:

Russia's budget gap surges to record high as Ukraine war weighs on finances

11 Months, 40 Missiles, 20 Locations. North Korea's record-breaking missile tests in 2022 have unnerved global powers. But how does the impoverished nation finance its missile tests? Where does it get the money from? Molly Gambhir explains on Gravitas Plus.

Gravitas Plus: How does North Korea finance its missile tests?

According to report, developing countries need to work with investors, rich countries and development banks to secure $1 trillion a year in external financing for climate action by the end of the decade and to match that with their own funds.

WION Climate Tracker | Report: Developing countries need $1 trillion a year in climate finance

India plans to use the domestic debt market to finance clean projects by launching&nbsp;first-ever green bonds that&nbsp;would prioritise funding solar power projects, followed by wind and small hydro projects.&nbsp;The revenues from green bonds will not be used to finance hydropower plants larger than 25 MW, nuclear projects, or any biomass-based power generation using biomass sourced from protected regions.&nbsp;

As a component of overall market borrowing with the objective of using the revenues to create green infrastructure, finance minister Nirmala Sitharaman announced the idea to issue sovereign green bonds in the 2022–2023 budget.

These bonds are expected to be sold by the government between October and March for 160 billion rupees ($1.93 billion).&nbsp;

Public sector projects&nbsp;will be chosen for green funding by a working committee on green finance led by the chief economist V Anantha Nageswaran.&nbsp;

The committee will choose projects under the direction of environmental experts and officials of the ministry of environment, forests, and climate change.

Also Read:&nbsp;<a href="https://www.wionews.com/world/nasas-artemis-mission-delayed-yet-again-heres-why-532496">NASA's Artemis lunar mission delayed yet again. Here's why.</a>

The panel will make sure that the bond revenues are distributed within 24 months of the date of issuance.&nbsp;

The Indian government had requested assistance from the World Bank and CICERO Shades of Green, a Danish company that assists with environmental studies on green bond frameworks&nbsp;for the green bond framework.

(with inputs from agencies) 
&nbsp;

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India plans to use the domestic debt market to finance clean projects by launching first-ever green bonds that would prioritise funding solar power projects, followed by wind and small hydro projects.

India plans to use the domestic debt market to finance clean projects by launching first-ever green bonds that would prioritise funding solar power projects, followed by wind and small hydro projects. The revenues from green bonds will not be used to finance hydropower plants larger than 25 MW, nuclear projects, or any biomass-based power generation using biomass sourced from protected regions. As a component of overall market borrowing with the objective of using the revenues to create green infrastructure, finance minister Nirmala Sitharaman announced the idea to issue sovereign green bonds in the 2022–2023 budget. These bonds are expected to be sold by the government between October and March for 160 billion rupees ($1.93 billion). Public sector projects will be chosen for green funding by a working committee on green finance led by the chief economist V Anantha Nageswaran. The committee will choose projects under the direction of environmental experts and officials of the ministry of environment, forests, and climate change. Also Read: NASA's Artemis lunar mission delayed yet again. Here's why. The panel will make sure that the bond revenues are distributed within 24 months of the date of issuance. The Indian government had requested assistance from the World Bank and CICERO Shades of Green, a Danish company that assists with environmental studies on green bond frameworks for the green bond framework. (with inputs from agencies)

India to use first green bonds to finance climate projects: Finance minister Nirmala Sitharaman

Keeping finance at the centre of the COP27 climate negotiations, a list of $120 billion in projects that investors may support to assist poorer countries cut emissions and adapt to the effects of global warming was published by United Nations experts on Wednesday.

Among the dozens of projects named is a $3 billion water transfer project between Lesotho and Botswana and a $10 million initiative to upgrade Mauritius' public water infrastructure.

Mahmoud Mohieldin, one of the UN-appointed experts, known as UN Climate Change High-Level Champions, said in a statement, "We can now show that a meaningful pipeline of investible opportunities does exist across the economies that need finance most."&nbsp;

The experts that assist the COP host countries in their interactions with industry put together a list of initiatives that may be funded more rapidly in an effort to counter the claim made by private sector financiers that investing more in emerging nations is too hazardous.&nbsp;

They provided the initial list so that banks and other stakeholders could evaluate the projects after a year of talks with stakeholders from all over the world.

Also Read:&nbsp;<a href="https://www.wionews.com/world/amid-us-midterms-north-korea-fires-another-ballistic-missile-532501">North Korea fires another ballistic missile, South identifies salvaged debris as part of Soviet-era weapon</a>

"We now need a creative collaboration between project developers and public, private and concessionary finance, to unlock this investment potential and turn assets into flows," said Mohieldin, High-Level Champion for COP27.

Developing countries would need to receive $1 trillion in external financing every year by 2030, according to an&nbsp;analysis made public on Tuesday, in order to achieve the global aim of halting runaway climate change.

(with inputs from agencies)

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

Keeping finance at the centre of the COP27 climate negotiations, a list of $120 billion in projects that investors may support to assist poorer countries cut emissions and adapt to the effects of global warming was published by United Nations experts on Wednesday.

Keeping finance at the centre of the COP27 climate negotiations, a list of $120 billion in projects that investors may support to assist poorer countries cut emissions and adapt to the effects of global warming was published by United Nations experts on Wednesday. Among the dozens of projects named is a $3 billion water transfer project between Lesotho and Botswana and a $10 million initiative to upgrade Mauritius' public water infrastructure. Mahmoud Mohieldin, one of the UN-appointed experts, known as UN Climate Change High-Level Champions, said in a statement, "We can now show that a meaningful pipeline of investible opportunities does exist across the economies that need finance most." The experts that assist the COP host countries in their interactions with industry put together a list of initiatives that may be funded more rapidly in an effort to counter the claim made by private sector financiers that investing more in emerging nations is too hazardous. They provided the initial list so that banks and other stakeholders could evaluate the projects after a year of talks with stakeholders from all over the world. Also Read: North Korea fires another ballistic missile, South identifies salvaged debris as part of Soviet-era weapon "We now need a creative collaboration between project developers and public, private and concessionary finance, to unlock this investment potential and turn assets into flows," said Mohieldin, High-Level Champion for COP27. Developing countries would need to receive $1 trillion in external financing every year by 2030, according to an analysis made public on Tuesday, in order to achieve the global aim of halting runaway climate change. (with inputs from agencies)

Finance takes centrestage at COP27 as projects worth $120bn are listed for developing countries

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