The major news from yesterday concerned Mumbai, the financial hub of India. Mumbai rose to prominence as Asia's billionaire capital. Mumbai overtook Beijing, the capital of China, to take this position for the first time. This city, which occupies 603 square kilometers, is home to 92 billionaires, while Beijing is home to 91 billionaires in an area of 16,000 square kilometers.
Simultaneously, former governor of the Reserve Bank of India (RBI), Raghuram Rajan, stated that India is mishandling its economic growth by depending too much on "hype." There are important structural issues in the nation that must be fixed. India can only reach its full potential at that point.
Watch out for today's huge happenings before tomorrow's big news...
The stock market is expected to climb today, March 27.
The K4 sedan will make its debut for Kia at the New York Auto Show.
The Citroen Basalt Vision Coupe SUV is set to make its global debut.
So, the big news for tomorrow...
1. Mumbai became the first billionaire capital of Asia, surpassing Beijing to take third place in the world with 26 billionaires added in only a single year.
Mumbai, the financial hub of India, is now known as the Asian capital of billionaires. Mumbai has surpassed Beijing, the capital of China, to take this position for the first time. This city, which occupies 603 square kilometers, is home to 92 billionaires, while Beijing is home to 91 billionaires in an area of 16,000 square kilometers.
As per 'Hurun Research's 2024 Global Rich List,' 26 individuals in Mumbai have become billionaires in the past year, while 18 people in Beijing have fallen off the list. China boasts 814 billionaires, while India has 271 billionaires.
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2. Raghuram stated that India is mishandling the growth hype, referred to the developed India concept as "nonsense," and stated that the largest difficulty lies in improving worker education.
Dependent on the 'hype' surrounding its robust economic growth, India is seriously mishandling the situation. The nation is facing serious structural issues that require attention. India can only reach its full potential at that point. In an interview with news agency Bloomberg, Raghuram Rajan, the former governor of the Reserve Bank of India (RBI), stated as much.
The aim of Prime Minister Narendra Modi, to turn India into a developed economy by 2047, was rejected by him. Speaking of this aim, according to Raghuram, is "nonsense." If a large number of your kids are not in high school and the dropout rate is high,.
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3. Adani Ports purchased an additional port: A Rs 3080 crore deal was struck, making this the company's fourteenth terminal.
Adani Ports, owned by Gautam Adani, has acquired an additional port. According to documents made public on the exchange, the business has acquired a 95% share of Gopalpur Ports. The total transaction value was Rs 3080 crore. This port will be Adani Ports' fourteenth.
Adani Ports has acquired Shapoorji Pallonji Port Maintenance Pvt. Ltd. for a 56% share. The Shapoorji Pallonji Group includes Shapoorji Pallonji Port Maintenance Private Limited. Aside from this, Orissa Stevedores Limited sold a 39% share to Adani Ports.
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4. According to Vijaypat Singhania, there was no reconciliation with his son. On March 20, Gautam Singhania uploaded a photo of the couple visiting JK House for the first time in ten years.
The father of Raymond Group Chairman Gautam Singhania, Vijaypat Singhania, has denied any rumors that he and his son will make amends. In actuality, Gautam Singhania posted a photo of himself and his father on social networking platform X six days prior, on March 20.
He also commented, "Today I am happy to find my father at home and get his blessings," in addition to this. Papa, I always hope you're well. Vijaypat now asserts that he was compelled to meet his son at JK House by his son. Simultaneously, the photo that went popular on social media was taken with an "ulterior motive."
To read the complete news, click this link.
5. Maruti's first electric vehicle, the SUV eVX, will go on sale through the Nexa channel. Its full charge is expected to provide it with a 550-kilometer range.
Via the upscale retailer "Nexa," Maruti Suzuki India Limited (MSIL) will introduce its first electric vehicle. This information has been provided in a report by Hind Business Line.
The business originally unveiled the eVX, Maruti's first electric SUV, during the Indian Auto Expo in 2023, and it will go on sale the following year, in 2025. Following this, a nearly production-ready model debuted at this year's mobility show in Japan in October.
The deadline for completing these four crucial tasks is March 31st. Invest to avoid income taxes and make a minimum contribution to PPF and Sukanya.
March, the final month of the fiscal year 2023–2024, is about to expire. There aren't many days left to do critical chores. Depositing the required minimum in Sukanya and PPF is one of these chores. In addition, you must invest before March 31st in order to qualify for income tax exemption.
