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More Budget 2023 news

The budget has retained the fiscal deficit projection for 2022-23 at 6.4 per cent, while the target for the next fiscal year has been set at 5.9 per cent

Budget 2023: Big announcements 

The budget has retained the fiscal deficit projection for 2022-23 at 6.4 per cent, while the target for the next fiscal year has been set at 5.9 per cent

Budget 2023&nbsp; Finance Minister Nirmala Sitharaman has tabled the Union Budget 2023 in Parliament, pegging total expenditure for the fiscal year 2023-24 at Rs 45 lakh crore. Of this over Rs 10 lakh crore has been allocated for capital expenditure. The allocation for capital expenditure is the highest ever, with a whopping increase of 33% compared to the previous year's allocation.
The Finance Minister has also announced the highest-ever capital outlay for the Railways at Rs 2.4 lakh crore. &nbsp;The FM said that the allocation for the Railways is now nine times the amount provided in 2013-14. On the receipts front, the government is expecting to earn Rs 26.3 lakh crore through the next fiscal year.
This includes Rs 23.3 lakh crore rupees in tax revenue and Rs 3 lakh crore in non-tax revenue. The government also expects to earn Rs&ensp;23,000 crore through the recovery of loans and Rs&ensp;61,000 crore through other receipts. Apart from these, the government has pegged its borrowings and other liabilities at Rs 17.8 lakh crore during the next fiscal year.
Shifting the focus to fiscal deficit, the budget has retained the projection for 2022-23 at 6.4 per cent. Some experts were expecting the figure to be revised downwards. The fiscal deficit target for the next fiscal year has been set at Rs 17.86 lakh crore or 5.9 per cent of the GDP. Finance Minister Nirmala Sitharaman has also reiterated that she aims to bring the fiscal deficit below 4.5 per cent by the fiscal year 2024-25.

editorji's Business Editor Avni Raja decodes the big announcements in Budget 2023 for personal tax. 

Budget 2023 | Explained: tweaks to the personal tax regime

Finance Minister Nirmala Sitharaman on Wednesday tweaked the slabs to provide some relief to the middle class

editorji's Business Editor Avni Raja decodes the big announcements in Budget 2023 for personal tax.&nbsp;

Finance Minister Nirmala Sitharaman on Wednesday tweaked the slabs to provide some relief to the middle class by announcing that no tax would be levied on annual income of up to Rs 7 lakh under the new tax regime.
editorji's Business Editor Avni Raja decodes the big announcements in Budget 2023 for personal tax.&nbsp;
Also Watch: <a href="https://www.editorji.com/india-news/politics/union-budget-not-futuristic-anti-people-mamata-banerjee-1675245330349">Union Budget 'not futuristic', 'anti-people': Mamata Banerjee</a>

As with every Budget, Union Finance Minister Nirmala Sitharaman on 1 February 2023 announced changes in customs and excise duties for various items.

Budget 2023: What's cheaper, what's costlier? Cigarette, mobile phone, TV, electric car duties changed

Budget 2023: What's cheaper, what's costlier? Cigarette, mobile phone, TV, electric car parts duties changed


As with every Budget, Union Finance Minister Nirmala Sitharaman on 1 February 2023 announced changes in customs and excise duties for various items.

As with every Budget, Union Finance Minister Nirmala Sitharaman on 1 February 2023 announced changes in customs and excise duties for various items.
Mobile phones may get cheaper as the government reduced customs duty on the camera lens and camera module parts. Customs duty has also been cut on some parts of the open cell of TV panels. Lab-grown diamonds may become cheaper with the duty reduced on their manufacturing seeds. Good news was also announced for electric car buyers as the finance minister cut customs duty on machinery for manufacture of lithium-ion cell. Also reduced was customs duty on the heating coil for making electric kitchen chimneys.
However, there are many items which may get costlier as the new rates kick in.
Cigarette prices are set to rise with the government hiking the National Calamity Contingent Duty (NCCD). Customs duty has also been increased on articles made of gold, silver, and platinum. Similarly, duty has been increased for imitation jewellery. Both internal combustion and electric vehicles in semi-knocked down form or completely built unit form are set for a customs duty hike. Bicycles, toys, and foreign-made electric kitchen chimneys are also set for a customs hike.

It will benefit only one class of people. This Budget will not help address the country's unemployment issue. It has been prepared with an eye on the 2024 Lok Sabha elections," West Bengal Chief Minister said
 

Union Budget 'not futuristic', 'anti-people': Mamata Banerjee 

It will benefit only one class of people. This Budget will not help address the country's unemployment issue. It has been prepared with an eye on the 2024 Lok Sabha elections," West Bengal Chief Minister said

It will benefit only one class of people. This Budget will not help address the country's unemployment issue. It has been prepared with an eye on the 2024 Lok Sabha elections," West Bengal Chief Minister said
&nbsp;

Terming the Union Budget "anti-people", West Bengal Chief Minister Mamata Banerjee on Wednesday said it will deprive the poor.
Addressing a government function at Bolpur in Birbhum district, she claimed that the changes in the income tax slabs will not help anyone.
"This Union Budget is not futuristic, totally opportunistic, anti-people and anti-poor. It will benefit only one class of people. This Budget will not help address the country's unemployment issue. It has been prepared with an eye on the 2024 Lok Sabha elections," she said.
"The changes in the income tax slabs will not help anyone. There is no ray of hope in this Budget -- it is a dark dark budget. Give me half an hour and I will show you how to prepare a Budget for the poor," she added.
Union Finance Minister Nirmala Sitharaman placed the Budget for 2023-24 in Parliament.
She announced no tax for those with an annual income of up to Rs 7 lakh under the new tax regime but made no changes for those who continue in the old regime.
Also Watch: <a href="https://www.editorji.com/india-news/budget-2023-middleclasszindabad-trends-on-amid-tax-relief-move-but-not-everyone-is-happy-1675256262952">Budget 2023: #MiddleClassZindabad trends on amid tax relief move but not everyone is happy</a>

This budget will fulfil dreams of aspirational society including poor people, middle-class people, farmers: Prime Minister Modi

Budget 2023: PM Modi calls it a budget for the aspirational society

PM Modi calls Budget 2023 a budget for the aspirational society

This budget will fulfil the dreams of an aspirational society including poor people, middle-class people, and farmers: Prime Minister Modi

First budget of Amrit Kaal will build a strong foundation for building a developed India. This budget will fulfil the dreams of an aspirational society including poor people, middle-class people, and farmers: PM Narendra Modi&nbsp;
Also Watch: <a href="https://www.editorji.com/business-news/budget-2023-no-income-tax-upto-7-lakhs-slab-for-the-new-regime-1675236960081">Budget 2023: No income tax upto ₹7 lakhs slab for the new regime&nbsp;</a>

Opposition leaders have criticised the Centre for failing to adequately address the issues of unemployment and inflation in the country.
 

Opposition leaders criticise Union Budget 2023, say it doesn't address key issues

Opposition leaders have criticised the Centre for failing to adequately address the issues of unemployment and inflation in the country.

Opposition leaders have criticised the Centre for failing to adequately address the issues of unemployment and inflation in the country.
&nbsp;

Opposition leaders have criticised the Centre for failing to adequately address the issues of unemployment and inflation in the Union Budget 2023.&nbsp;
RJD leader and Rajya Sabha MP Manoj Jha has criticised the Union Budget 2023 for failing to address the issue of unemployment.&nbsp;
Congress leader K Suresh called it a &ldquo;pro-corporate&rdquo; budget that was only in the interest of &ldquo;Adani, Ambani and Gujarat&rdquo;.&nbsp;
Also Watch: <a href="https://www.editorji.com/business-news/budget-2023-no-income-tax-upto-7-lakhs-slab-for-the-new-regime-1675236960081">Budget 2023 No income tax upto ₹7 lakhs slab for the new regime</a>
&nbsp;

Govt proposes to increase income tax rebate limit from Rs 5 lakh to Rs 7 lakh in new tax regime

Budget 2023: No income tax upto ₹7 lakhs slab for the new regime 

Govt proposes to increase income tax rebate limit from Rs 5 lakh to Rs 7 lakh in the new tax regime

BUDGET 2023: INCOME TAX&nbsp; Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
The personal income tax rebate limit has been increased to Rs 7 lakh from the fiscal year starting April 1 under the new tax regime from the previous Rs 5 lakh. Tax slabs has been cut to five from seven earlier. Also, the maximum income tax rate has been reduced to about 39 per cent from 42.7 per cent after a reduction in the highest surcharge to 25 per cent from 37 per cent.
Besides, the deposit limit for senior citizen savings schemes has been doubled to Rs 30 lakh and for Monthly Income Account Scheme to Rs 9 lakh. A new small savings scheme for women, offering 7.5 per cent interest rate on deposits of up to Rs 2 lakh for a tenor of 2 years, has been announced.

Budget's big numbers: ₹45 lakh crore, ₹27 lakh crore, 5.9% - earning, spending, fiscal deficit estimates

The FM further said India continues to be on the path of fiscal consolidation targeting to achieve a 4.5 per cent fiscal deficit of GDP by 2025-26.&nbsp;

The fiscal deficit would be brought down to below 4.5 per cent by 2025-26, Finance Minister Nirmala Sitharaman said on Wednesday.
She also said that tax receipts for the next fiscal are budgeted at Rs 23.3 lakh crore and states would be allowed 3.5 per cent of GDP as fiscal deficit.
To finance the fiscal deficit in 2023-24, net market borrowing from dated securities is estimated at Rs 11.8 lakh crore, Sitharaman said while presenting the Union Budget for 2023-24 in the Lok Sabha.
She retained the fiscal deficit target of 6.4 per cent in the revised estimate for FY2022-23 and reduced it to 5.9 per cent for the next fiscal. The government had pegged the fiscal deficit at 6.4 per cent of the GDP for the current financial year.
The fiscal deficit or the gap between expenditure and revenue for 2022-23 is estimated to be Rs 16,61,196 crore. The country's fiscal deficit was projected higher at 6.9 per cent for 2021-22 as against the 6.8 per cent estimated earlier.
The Revised Estimates for 2021-22 indicate a fiscal deficit of Rs 15,91,089 crore as against the Budget Estimates of Rs 15,06,812 crore. &nbsp;The minister also announced a new savings scheme, Mahila Samman Savings Certificate, for two years to 2025 with a maximum deposit limit of Rs 2 lakh and an interest rate of 7.5 per cent.
She added that 50-year interest-free loans to state governments have to be spent on capital expenditure within 2023-24.
The minister announced that the monthly income scheme limit would be doubled to Rs 9 lakh and Rs 15 lakh for joint accounts. The finance minister said that indirect tax proposals would boost green mobility and electric vehicles (EVs).
&nbsp;

As the Budget 2023 is around the corner, just like other sectors, real state industry also has a slew of expectations from FM Nirmala Sitharaman 

Budget 2023: What homebuyers want 

Budget 2023: What the real estate sector & homebuyers expect 

The real estate industry and homebuyers alike are hoping that the upcoming budget will have measures to inventivise homebuyers and boost the sector.&nbsp;

The real estate industry saw a promising 2022. A research report by Anarock consultants says that residential property sales grew by 50% last year as compared to 2021. However, now, the industry is hoping for significant measures in Budget 2023, to sustain the growth that the sector has seen.&nbsp;
Affordable housing: In cities like Mumbai, Delhi-NCR and Bengaluru, the definition of affordable housing is changing. Therefore the real estate industry is seeking an increase in the price cap of affordable housing from the current Rs 45 lakh to Rs 75-80 lakh.&nbsp;
Home loan interest rates: The real estate industry has also recommended that government should increase deduction limit under Section 24. Currently, taxpayers can claim a deduction for interest paid on a home loan up to Rs. 2 lakhs. If it is extended to Rs 5 lakh, it would be a big boost the real estate sector.
Affordable rental housing: In order to boost rental housing for the affordable sector, the&nbsp; government should include measures such as providing tax incentives for developers who build rental housing projects. Single-window clearance: According to Anuj Puri, Chairman of Real estate agency - Anarock Group, the demands for single-window clearance and industry status for real estate are among the recurrent ones and have yet to be addressed. The sector hopes that the forthcoming budget will finally address it.&nbsp;

Budget 2023

Modi 2.0's last full budget before 2024 elections was presented in Parliament on Wednesday. We dissect the budget with leading experts. 

The India Story | Union Budget 2023: key takeaways 

It was the fifth budget of Modi 2.0 and the last full budget before the 2024 general elections. Claiming that the Indian economy is on the right path and heading towards a bright future, Finance Minister Nirmala Sitharaman announced major changes in tax slabs under the new tax regime and big hike in allocation for railways and capital expenditure.

In this week’s episode of The India Story, we get you the latest on Budget 2023, key takeaways, views from experts and a lot more.

On the show tonight, Vikram Chandra speaks with Investment Mogul Madhusudan Kela, Tata Steel Managing Director TV Narendran, and former FICCI president Naina Lal Kidwai. Also a peak into a conversation between G20 Sherpa Amitabh Kant and Director-General of CII, Chandrajit Banerjee.

Modi government 2.0's last full budget before 2024 elections was presented in the Parliament on Wednesday. We dissect the budget with leading experts.&nbsp;

It was the fifth budget of Modi 2.0 and the last full budget before the 2024 general elections. Claiming that the Indian economy is on the right path and heading towards a bright future, Finance Minister Nirmala Sitharaman announced major changes in tax slabs under the new tax regime and big hike in allocation for railways and capital expenditure.
In this week&rsquo;s episode of The India Story, we get you the latest on Budget 2023, key takeaways, views from experts and a lot more.
On the show tonight, Vikram Chandra speaks with investment mogul Madhusudan Kela, Tata Steel Managing Director TV Narendran, and former FICCI president Naina Lal Kidwai. Also a peak into a conversation between G20 Sherpa Amitabh Kant and Director-General of CII, Chandrajit Banerjee.

Finance Minister Nirmala Sitharaman announced a hike in taxes on cigarettes in the Union Budget

Budget 2023: Smoking to get more expensive; shares of cigarette companies slump

Finance Minister Nirmala Sitharaman announced a hike in taxes on cigarettes in the Union Budget

Smoking a cigarette to cost more for smokers as Finance Minister Nirmala Sitharaman announced a 16 per cent increase in the customs duty on cigarettes in the Budget 2023.&nbsp; In her speech, Finance minister Nirmala Sitharaman proposed the National Calamity Contingent Duty (NCCD) on specified cigarettes be revised upwards by about 16 per cent. The hike in NCCD on cigarettes comes two years after it was kept unchanged. Though the announcement was initially seen as negative for the cigarette makers but analysts believe cigarette companies would not find it difficult to pass on the meagre cost bump to the customers as prices have not increased much in the last two years.

Shares of LIC, SBI Life, HDFC Life and ICICI Prudential closed the day with losses of up to 12 per cent each

Budget 2023: Insurance stocks tank

Shares of LIC, SBI Life, HDFC Life and ICICI Prudential closed the day with losses of up to 12 per cent each

Shares of insurance companies ended the budget day deep in the red. Two key announcements from Finance Minister Nirmala Sitharaman in Budget 2023 were seen as the triggers for this sharp decline. The Finance Minister&rsquo;s renewed push for the new tax regime, with the income tax rebate limit being increased from 5 lakh rupees to 7 lakh rupees, was seen as a big dampener for the insurance companies. Remember, unlike the old tax regime, the new tax regime doesn&rsquo;t allow any exemptions for insurance premium payments. Therefore, experts believe that higher adoption of the new tax regime could lead to lower sales for insurance companies. The other big announcement in the Budget, that hit the insurance sector shares, was regarding the proposal to limit income tax exemption for proceeds of insurance policies with very high value. &nbsp;The budget document said that where the aggregate of premium for life insurance policies (other than ULIP) issued on or after April 1, 2023, is above Rs 5 lakh, income from only those policies with an aggregate premium of up to Rs 5 lakh shall be exempt. However, the document added that the change to will not affect the tax exemption provided to the amount received on the death of a person insured. It will also not affect insurance policies issued till March 31, 2023&rdquo;. On the back of these two announcements, shares of LIC, SBI Life, HDFC Life and ICICI Prudential closed the day with losses of up to 12 per cent each.

Speaking to reporters after presentation of the Budget, Sitharaman said the country has been waiting for a direct tax regime which is simplified and easy in compliance.

Budget 2023: switching to new tax regime not necessary, says FM; elaborates on personal I-T changes

Speaking to reporters after presentation of the Budget, Sitharaman said the country has been waiting for a direct tax regime which is simplified and easy in compliance.

Finance Minister Nirmala Sitharaman on Wednesday said the government has made the new income tax regime more attractive for taxpayers and has thus brought about 'substantial changes' in its structure for the benefit of the middle class.
The Budget 2023-24 has proposed changes in the optional tax regime, which was introduced in 2020-21.
Speaking to reporters after presentation of the Budget, Sitharaman said the country has been waiting for a direct tax regime which is simplified and easy in compliance.
"The personal income tax has had substantial changes (in the Budget) which will benefit the middle class. The new taxation regime has now got greater traction and incentive so that people can now unhesitatingly move to the new regime from old," the finance minister said.
As per the changes proposed in the Budget, no tax would be levied on people with annual income of up to Rs 7 lakh under the new tax regime but it made no changes for those who continue in the old regime that provides for tax exemptions and deductions on investments and expenses such as HRA.
In what is being seen as a push for the salaried class to switch to the new tax regime where no exemptions on investments are provided, the finance minister in her Budget for 2023-24 allowed a standard deduction of Rs 50,000 under the new regime.
The old tax regime provides for a similar deduction and no tax on income up to Rs 5 lakh.
Also Watch: <a href="https://www.editorji.com/india-news/budget-2023-what-s-cheaper-what-s-costlier-cigarette-phone-tv-electric-car-parts-duties-changed-1675245581924">Budget 2023: What's cheaper, what's costlier? Cigarette, phone, TV, electric car parts duties changed</a>
Sitharaman said the government wants to make the new tax regime attractive enough and compliance should not be burdensome on taxpayers. However, if someone feels the old regime is more beneficial, he/she can continue in it.
"The ultimate interest is to make the simpler (new) regime more attractive," Sitharaman said.
Revenue Secretary Sanjay Malhotra said majority of individual taxpayers would find it more attractive to shift to the new regime.
Malhotra, however, did not give details on the number of taxpayers who have migrated to new tax regime since 2020-21.
Under the revamped new tax regime, no tax would be levied for income up to Rs 3 lakh. Income between Rs 3-6 lakh would be taxed at 5 per cent; Rs 6-9 lakh at 10 per cent, Rs 9-12 lakh at 15 per cent, Rs 12-15 lakh at 20 per cent and income of Rs 15 lakh and above will be taxed at 30 per cent.
"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," Sitharaman said.&nbsp;

Seven priorities of the Budget, 'Saptarishi', are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and the financial sector

Budget 2023: Key takeaways by Finance Minister Sitharaman 

Sitharaman is presenting her fifth full Budget after she took over as Finance Minister in July 2019

Budget 2023 Finance Minister Nirmala Sitharaman has tabled the Union Budget 2023 in Parliament. Editorji brings you the key takeaways from her speech:&nbsp; 1. India as a bright star: The world has recognised India as a bright star as the country is recording healthy economic growth despite global uncertainties, Finance Minister Nirmala Sitharaman said during the budget.
2. Indian Economy 5th Largest Now: FM Sitharaman started the Budget by saying that the Indian economy has increased in size from being the 10th largest to the 5th largest in the world in the past nine years.
3.&nbsp; Seven budget priorities (Saptarishi): FM Sitharaman announced seven priorities of the Budget or 'Saptarishi'. These are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and the financial sector.
4. &nbsp;Highest-ever capital outlay for railways The capital outlay for the railways has been increased to the highest-ever Rs 2.40 lakh crore in the Union Budget for 2023-24, Finance Minister Nirmala Sitharaman said on Wednesday.
Presenting the budget in Lok Sabha, Sitharaman said the outlay for the railways is nine times the amount provided in 2013-2014.
5. Journey to India@100: To service these focus areas in our journey to India@100, we believe that the following four opportunities can be transformative during Amrit Kaal. Amrit Kaal is described by the government as the 25-year period culminating in the centenary of India's independence.&nbsp; "The budget adopts following seven priorities -- inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector," she said.&nbsp;

Finance Minister Nirmala Sitharaman presented the last union budget of the Modi govt before the 2024 Lok Sabha polls 

Finance minister explains four key points of Union Budget 2023 

Finance Minister Nirmala Sitharaman presented the last union budget of the Modi govt before the 2024 Lok Sabha polls&nbsp;

After presenting the Union Budget 2023 in the Parliament, Finance Minister Nirmala Sitharaman addressed the post-budget press conference in New Delhi.
Sitharaman said the budget largely focussed on 4 major points: empowering women, focus on tourism, helping out &ldquo;vishvakarma&rdquo; or those toiling traditionally through their hands for the country, and green growth.
Also Watch: <a href="https://www.editorji.com/business-news/budget-2023/budget-2023-switching-to-new-tax-regime-not-necessary-says-fm-elaborates-on-personal-i-t-changes-1675256296179">Budget 2023: switching to new tax regime not necessary, says FM; elaborates on personal I-T changes</a>

Gandhi said he was asked during Bharat Jodo Yatra how Adani's net worth went from $8 billion in 2014 to $140 billion in 2022.

Adani row: Rahul Gandhi shows old pic of Modi, Gautam Adani in Lok Sabha, asks 'what's the relationship?'

Adani row: Rahul Gandhi shows photo of PM Modi, Gautam Adani in Lok Sabha

Gandhi said he was asked during Bharat Jodo Yatra how Adani's net worth went from $8 billion in 2014 to $140 billion in 2022.

Congress leader Rahul Gandhi targeted the Narendra Modi government over the Adani controversy, during his statement on the Motion of Thanks on the President's Address in Lok Sabha on 7 February 2023.
Speaking about his recently-concluded Bharat Jodo Yatra, Gandhi said, "From Tamil Nadu to Kerala, Maharashtra, MP, everywhere. One name - we heard it everywhere. Adani, Adani, Adani, Adani, Adani."
"People used to ask me how Adani enters any business and achieves success, never fails. The youth told me they also want to learn this. PM Modi talks about startups. We also want to be like Adani," the Congress MP from Wayanad added.
Gandhi said that the youth asked him how Adani's net worth went from $8 billion in 2014 to $140 billion in 2022. Then, he brandished an old photograph of Gautam Adani and Narendra Modi, exclaiming, "This is the relationship. It's in public."
Subsequently, Lok Sabha Speaker Om Birla told Gandhi not to brandish posters in the House.

Business

Dhankar said that in the last few days, the House had 17-and-a-half hours to transact business, but worked only for 35 minutes, i.e. 3.3% of the time.

Watch: over Adani row, Opposition MPs enter Rajya Sabha well to protest; House adjourned for 1 hour

Rajya Sabha adjourned for 1 hour over protest on Adani row RS Chairman rejected Opposition's notices for debate Opposition MPs entered well of House to object

Dhankar said that in the last few days, the House had 17-and-a-half hours to transact business, but worked only for 35 minutes, i.e. 3.3% of the time.

Dramatic scenes were witnessed in the Rajya Sabha on 7 February 2023 as Opposition MPs entered the well of the House to protest over the Adani controversy.
Chairman Jagdeep Dhankar once again rejected notices submitted by Opposition members for a debate on the Adani issue.
Dhankar said that in the last few days, the House had 17-and-a-half hours to transact business, but worked only for 35 minutes, i.e. 3.3% of the time.
With the protests intensifying, he adjourned the House for an hour.
&nbsp;

Speaker Om Birla asked the Opposition to allow Question Hour to proceed as planned, appealing to them to "start the right tradition".

Adani row: Day 4 of protest - disruption in Lok Sabha leads to 1-hour adjournment

Lok Sabha disrupted over Adani row again Opposition protest began as soon as House convened Speaker's 'initiate correct tradition' appeal ignored

Speaker Om Birla asked the Opposition to allow Question Hour to proceed as planned, appealing to them to "start the right tradition".

Another fiery face-off occurred between Opposition MPs and the Speaker of the Lok Sabha as protests over the Adani controversy continued for the fourth day in Parliament.
With protests for a debate and a Joint Parliamentary Committee probe starting as soon as the House convened, Speaker Om Birla asked the Opposition to allow Question Hour to proceed as planned. Birla asked MPs to "start the right tradition".
With Opposition members unrelenting, the Speaker accused them of not wanting the Parliament to function, and adjourned the House for an hour.
Also Watch:<a href="https://www.editorji.com/india-news/politics/sc-to-hear-plea-challenging-appointment-of-lawyer-victoria-gowri-as-madras-hc-judge-1675734365455"> SC to hear plea challenging appointment of lawyer Victoria Gowri as Madras HC judge</a>

According to Fitch Ratings reports, Indian banks' exposure to Adani group is "insufficient in itself" to pose a substantial risk to their credit profiles

Banks' exposure to Adani group 'insufficient', face limited risk: Fitch 

According to Fitch Ratings reports, Indian banks' exposure to Adani group is "insufficient in itself" to pose a substantial risk to their credit profiles

Indian banks' exposure to Adani group is "insufficient in itself" to pose a substantial risk to their credit profiles, Fitch Ratings said on Tuesday.
Adani group has faced stock rout and questions after a US short seller Hindenburg Research came out with a damning report alleging financial and accounting fraud by the ports-to-energy conglomerate. Adani Group has denied all charges and threatened to sue Hindenburg.
"Fitch Ratings believes that Indian banks' exposure to the Adani group is insufficient in itself to present a substantial risk to the banks' standalone credit profiles," the rating agency said in a note.
Ratings of banks remain driven by expectations that the banks would receive extraordinary sovereign support if needed.
Fitch on February 3 stated that the controversy over the short-seller report had no immediate impact on the ratings of Fitch-rated Adani entities and their securities.
"Even under a hypothetical scenario where the wider Adani group enters distress, exposure for Indian banks should, in itself, be manageable without adverse consequences on the banks' viability ratings," Fitch said.
State Bank of India last week stated that its share of the group's loans had fallen to 31 per cent by 2022-end from 55 per cent in 2016.

Shares of digital payments service provider Paytm hit the upper circuit of 20% to Rs 669.6 in Tuesday's trade on BSE after the company narrowed its consolidated net loss to Rs 392 crore in the third quarter

Paytm share price rallies for 2nd day in row

Shares of digital payments service provider Paytm hit the upper circuit of 20% to Rs 669.6 in Tuesday's trade on BSE after the company narrowed its consolidated net loss to Rs 392 crore in the third quarter

Share price of One97 communications, which is commonly known as Paytm extended its rally for the second consecutive day on Tuesday after the company narrowed its consolidated net loss to Rs 392 crore in the third quarter.
In early trade, the stock struck a 20% upper circuit. While the stock has skyrocketed by over 27% in 2 days. Major brokerages globally have raised their target price for Paytm shares after strong Q3 numbers.&nbsp; At the time of writing, Paytm shares soared by 5.09% or ₹28.40 to trade at ₹587 apiece on BSE.&nbsp;
Paytm shares have kicked started the week with a bang post Q3. On Monday, the share price closed at ₹558 apiece up by 6.31% on Dalal Street. So far, in the week, the shares have climbed by at least 27.55% on D-Street. &nbsp;

Boeing to cut 2000 jobs primarily in Finance and HR segments. Ths company plans to put more of its resources into "products, services and technology development"

Layoffs wave continues: Boeing to cut 2000 jobs 

Plane maker Boeing to cut 2,000 jobs 

Boeing to cut 2000 jobs primarily in Finance and HR segments. Ths company plans to put more of its resources into "products, services and technology development"
&nbsp;
&nbsp;

After startups and tech, now aerospace industry has also announced its plans for layoffs. The U.S planemaker Boeing, in a statement, said that the company expects about 2,000 reductions primarily in Finance and HR through a combination of attrition and layoffs.
The move comes as the company puts more of its resources into "products, services and technology development". "While no one has been notified of job losses yet, we will continue to share information transparently to allow people to plan. The company, which recently relocated its headquarters to Arlington, Virginia, said it expects to &ldquo;significantly grow&rdquo; the overall workforce during the year," the company said.&nbsp; It will outsource some of the roles to Tata Consulting Services, a unit of one of India's largest conglomerates. Boeing's total workforce was 156,000 employees as of December 31, 2022, the company said.

Life Insurance Corporation says that it strictly follows the statutory framework and regulations while making investments. LIC's statement comes amid concerns over the insurer's exposure to Adani group companies.

LIC issues statement amid concerns over exposure to Adani group

LIC gives statement amid concerns over exposure to Adani grp cos

Life Insurance Corporation says that it strictly follows the statutory framework and regulations while making investments. LIC's statement comes amid concerns over the insurer's exposure to Adani group companies.

Amid concerns in certain quarters over LIC's exposure to Adani group companies, the insurer has said that it strictly follows the statutory framework and regulations while making investments.
Last week, state-owned Life Insurance Corporation (LIC) said it has investments of Rs 35,917.31 crore in Adani group's debt and equity securities. The amount is 0.975 per cent of the insurer's total assets under management of more than Rs 41.66 lakh crore.
The total value of equity, purchased over the last many years, of all the Adani group companies, is Rs 30,127 crore and the market value for the same as at close of market hours on January 27, 2023, was Rs 56,142 crore, as per LIC.
Stocks of the Adani group companies have taken a beating, losing billions of dollars in market value, after US-based short-seller Hindenburg Research in a report dated January 24 made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. Adani group completely denied the allegations calling them 'malicious' and 'basless'.&nbsp;

The Hindenburg Research report came two days before Adani Enterprises' Rs 20,000 crore Follow on Public Offer (FPO) that opened for subscription on January 27

Adani stocks fall sharply; Adani Total Gas tumbles over 39 pc in 3 days

Adani stocks fall sharply; Adani Total Gas tumbles over 39% in 3 days

The Hindenburg Research report came two days before Adani Enterprises' Rs 20,000 crore Follow on Public Offer (FPO) that opened for subscription on January 27

Shares of Adani group firms have faced heavy drubbing since Tuesday's close last week, after US-based short seller Hindenburg Research made damaging allegations against the conglomerate.
Most of the group firms fell for the third day running on Monday.
Since Tuesday's close last week, shares of Adani Total Gas tanked 39.57 per cent, Adani Transmission tumbled 37.95 per cent, Adani Green Energy declined 37.93 per cent, Ambuja Cements went lower by 22.28 per cent and Adani Ports fell 21.55 per cent on the BSE.
In three days, shares of ACC tanked 18.47 per cent, Adani Enterprises fell 16.38 per cent, Adani Wilmar dipped 14.25 per cent, Adani Power (14.24 per cent) and NDTV (14.22 per cent).
The group firms have collectively lost over Rs 5.56 lakh crore in market valuation between Tuesday last week and Monday. On Friday, the Adani group stocks fell up to 20 per cent after Hindenburg Research made damaging allegations.&nbsp; The Hindenburg Research report came two days before Adani Enterprises' Rs 20,000 crore Follow on Public Offer (FPO) that opened for subscription on January 27.

Markets

Stock markets closed down by 1.5%, with the Adani stocks seeing deep cuts. In fact extending their losses from Wednesday, trading was halted for some of the group’s stocks after they hit lower circuit.

Bloodbath on Dalal Street, Adani stocks collapse 

Stock markets closed down by 1.5%, with the Adani stocks seeing deep cuts. In fact extending their losses from Wednesday, trading was halted for some of the group&rsquo;s stocks after they hit lower circuit.

It was a bloodbath on Dalal street with the markets cracking under pressure of the Adani pack. The Adani group of companies went into a freefall today, on the back of the scathing Hindenburg report that accused Adani of corporate malpractice, stock manipulation and accounting fraud. A report, which Adani termed as &lsquo;unresearched&rsquo; and &lsquo;malicious&rsquo;. The Adani group said it was exploring legal options against Hindenburg research.
The group CFO said that the &lsquo;&rsquo;timing of the report&rsquo;s publication was a &lsquo;&rsquo;brazen, mala fide intention to undermine Adani Group&rsquo;s reputation with the principal objective of damaging the follow-on public offering from Adani Enterprises&rsquo;&rsquo;. &nbsp;
This Hindenburg report was released just ahead of the Adani Enterprises FPO, which is the largest ever FPO in India. The follow-on public offering opened today to a muted start, receiving bids for Rs 3.63 lakh shares or 1% of the issue size of 4.55 cr shares.&nbsp;
However, responding to Adani, Hindenburg research stands by its report, saying &ldquo;If Adani is serious, it should also file a suit in the US where we operate. We have a long list of documents we would demand in a legal discovery process&rsquo;&rsquo;.
Meanwhile, the capital markets regulator SEBI, will also study the Hindenburg report. A Reuters report says SEBI, in its ongoing preliminary investigation into the group&rsquo;s offshore fund holdings, will also study the report. Incidentally, SEBI has also been named in the report as being aware of such malpractices
Both the Sensex and Nifty closed around 1.5% lower, with the stocks of the listed Adani group of companies seeing deep cuts. In fact extending their losses from Wednesday, trading was halted for some of the group&rsquo;s stocks after they hit lower circuit.

OYO's last submission to Sebi was the updated financial results of the first half of financial year 2022-23

OYO to refile updated draft IPO papers by mid February

OYO's last submission to Sebi was the updated financial results of the first half of financial year 2022-23

Oravel Stays Ltd, which operates travel tech firm and brand OYO, on Wednesday said it will refile its draft public listing application by the middle of next month.
Earlier this month capital markets regulator Sebi had asked the company to refile the draft initial public offering (IPO) papers with certain updates.
<h3>OYO IPO</h3>
"We are working on updating all key sections simultaneously. Responsibilities have been divided among different teams, with senior company leaders driving the collaboration with the Book Running Lead Managers, essentially the IPO bankers, the lawyers and the auditors.
"We are keen on refiling the draft red herring prospectus (DRHP) by middle of February 2023, if not earlier," a company spokesperson said.
The company said Sebi in its letter had stated that "the disclosures contained in present DRHP do not take into account the material changes/disclosures arising from Updated financial statements as filed through addendums leading to revised period for disclosures which in turn leads to necessities to make material updates in Risk Factors, Basis of Offer Price, Outstanding Litigations and update other relevant sections of DRHP".
OYO's last submission to Sebi was the updated financial results of the first half of financial year 2022-23.
The company had earlier indicated that the process of refiling the comprehensive document could take up to 2-3 months.
In September 2021, OYO had filed preliminary documents with the Securities and Exchange Board of India (Sebi) for a Rs 8,430 crore IPO.
The launching of the IPO was delayed due to the then volatile market conditions making the company prepare to settle for a lower valuation at around USD 7-8 billion instead of the USD 11 billion it was targeting initially.

As we are about to step into the new year, Editorji brings you a list of IPOs, which could hit the markets in 2023

Year ender 2022: From Oyo to Fabindia; IPOs that can hit Dalal street in 2023

As we are about to step into the new year, Editorji brings you a list of IPOs, which could hit the markets in 2023

Despite geopolitical tensions, inflationary worries, interest rate hikes and fears of recession, India witnessed over 30 Initial Public Offerings in 2022. From LIC to Adani Wilmar, the year has been great in terms of investors returns as majority of the issue has delivered positive returns on listing and are in the green since then.&nbsp;
But as we are about to step into the new year, Editorji brings you a list of IPOs, which could hit the markets in 2023.
Oravel Stays (OYO) The most anticipated and awaited IPO of 2023 is Oravel Stays, popularly known as OYO. New-age technology platform focussing on short-stay accommodation, has the largest footprint of over 157,000 hotel storefronts in India and overseas. It offers over 40 products and services to its partners and customers across 35 countries.
The company filed its draft red herring prospectus (DRHP) in October 2021 and had planned to launch its IPO in 2022. However, due to volatile market conditions and bearish market sentiment, OYO postponed its IPO, worrying that its valuation might be affected.
According to the prospects, OYO in 2023 plans to raise ₹84.3 billion out of which ₹70 billion will be from fresh issues and the remaining ₹14.3 billion through stake sale by existing investors.
2. FabIndia Next on our list is leading consumer lifestyle platform focused on authentic craft-based and organic products, Fabindia.
According to reports, FabIndia plans to raise up to ₹4,000 crore through an initial public offer and in a novel approach, the company's promoters also plan to gift more than 7 lakh shares to artisans and farmers.
The 62-year-old FabIndia operates more than 300 stores and offers a diverse portfolio of lifestyle products across apparel and accessories, home and lifestyle, personal care and organic food categories.
Also watch: <a href="https://www.editorji.com/business-news/year-ender-2022-these-coins-are-the-most-held-cryptos-in-india-1671689118989">Year ender 2022: these coins are the most held cryptos in India</a>
3. Swiggy An online food ordering and delivery platform, Swiggy is next on our list. Established in 2014 in Bangalore, Swiggy currently serves over 500 cities in India.
Apart from food delivery, Swiggy delivers groceries and packages through Swiggy Instamart and Genie.
Currently, the company has partnerships with more than 150 thousand restaurants and has a strong fleet of over 260 thousand delivery executives delivering food to its users.
Swiggy plans to raise around US$1 bn ( ₹81.31 bn) through IPO in 2023. It was already gearing up for an IPO and hired JP Morgan and ICICI Securities to run its books.
4. Go First
Fourth on our list is the Wadia Group's Go First (formerly Go Air), an ultra-low-cost carrier in India.
Founded in 2005, Go First carried over 80 m passengers across 39 destinations, including ten international destinations and comprises 57 aircraft.
It is one of the fastest-growing airline companies, with a market share of 10.8% in 2020. The company filed its DRHP in May 2021 and planned to launch its IPO in early 2022. However, the company delayed the IPO because of weak consumer sentiment around aviation stocks. Going forward, Go First aims to launch its IPO in 2023. The company plans to use the funds to repay its debt and other obligations.
5. Hosana Consumer Last on our list is a natural beauty and personal care company, Hosana Consumer, popularly known as Mamaearth.
Founded in 2016 as a baby care brand, Mamaearth is now a beauty and skincare brand which operates in India, South East Asia, and the Middle East. The company operates as an omnichannel brand and sells its products online and offline.
So far, Mamaearth has raised a total of US$111.6 mn ( ₹9.07 bn) in funding over eight rounds from investors such as Sequoia India, Stellaris Ventures, and Fireside Ventures.
The company announced its plans to raise US$300 m ( ₹24.39 bn) through IPO in 2023 and will soon draft its prospectus. It plans to use the funds to set up offline stores across the country.

The public offer will open for bidders on 12th December 2022 and it will remain open till 14th December 2022

Sula Vineyards IPO opens: Should you subscribe it?

The public offer will open for bidders on 12th December 2022 and it will remain open till 14th December 2022

The initial public offer (IPO) of Sula Vineyards has hit the market and the public issue will remain open for bidding till 14th December 2022. India's largest wine producer and seller aims to raise ₹960.35 crore from its public offer and it is completely OFS (offer for sale) in nature. The company has fixed price band of the public issue at ₹340 to ₹357 apiece.
Meanwhile ahead of Sula Vineyards IPO subscription opening date, grey market is dropping positive signals in regard to the public offer. According to market observers, shares of Sula Vineyards Ltd are available at a premium of ₹34 in grey market.
A bidder will be able to apply for the IPO in lots and one lot will comprise 42 shares of the company. A bidder can apply for at least one lot whereas one retail investor can apply for maximum 13 lots of the IPO. The public issue is proposed for listing on BSE and NSE and tentative date for listing of company shares is 22nd December 2022.
&nbsp;

The firm has a dominant market share in the domestic wine industry, driven by a varied vast portfolio of wine brands across different price categories and an expansive distribution network

Sula Vineyards set for IPO launch on December 12

Sula Vineyards IPO

The firm has a dominant market share in the domestic wine industry, driven by a varied vast portfolio of wine brands across different price categories and an expansive distribution network

Seems like Dalal street has decided its drink from the menu to end 2022 on a good note! According to reports, India's largest wine maker Sula Vineyards is all set to launch its initial public offering between Dec 12-14. The issue will open for anchor investors on Dec 9 and will be open for the public from Dec 12 to Dec 14.
As per reports by Moneycontrol, Sula Vineyards is looking to raise around Rs 950 crs to Rs 1000 crs via the IPO which consists solely of an OFS component.
Sula Vineyards has been recognised as the market leader across wine variants, including red, white and sparkling wines.
Sula is headquartered in Nashik, 180km northeast of Mumbai, and has two manufacturing units, in Nashik and Bengaluru each. As of January, it had a production capacity of over 13 million litre, of which 11 million litre is housed in Nashik and 2 million litre in Karnataka.

After Paytm, SoftBank to sell half of its stake in PolicyBazaar

After Paytm, SoftBank sells half of its stake in PolicyBazaar

SoftBank has been a major investor in the Indian new-age tech startups, including PB Fintech, Delhivery, Paytm, and Zomato

After making a slew of disinvestment in the past few months in the new-age listed companies, Japanese conglomerate SoftBank is now planning to sell a 5% stake in policybazaar.&nbsp;
According to reports, SoftBank, which currently holds around a 10% stake in Policybazaar, is looking to sell a 5% share in the company, which would be worth ₹1,000 crore. The Japanese investment firm had invested $199 million in Policybazaar, whereas it offloaded stock worth $250 million in its initial public offering (IPO) last year.
Post the sale, SoftBank will hold a 5% stake in the online insurance aggregator.
&nbsp;such as One97 Communications, the parent of digital payments giant Paytm, Delhivery, and Zomato.
PB Fintech&rsquo;s shares have fallen over 60% since its listing last year.&nbsp;

With budget 2023 round the corner, tax payers have a slew of demands from the finance minister. 

Budget 2023: What does the salaried class want? 

Budget 2023: How can it help salaried employees?

India's salaried class, one of the largest groups of taxpayers in the country, have high expectations from this year's budget. Tax payers are hoping for some announcements to ease the tax burden.&nbsp;

The salaried class is keenly awaiting this year's budget announcement. After being left disappointed last year, with not too much being announced by way of tax relief, the salaried class has high hopes from the Finance Minister, this year.&nbsp; Income Tax Slab Revision: Personal income tax slabs and rates have not been changed since 2017-18. Experts are of the view that income tax slabs should be revised to give tax payers more purchasing power.&nbsp;
Basic Exemption Limit: Expectations are that the basic exemption limit be raised to Rs 5 lakh from the prevailing Rs 2.5 lakh.&nbsp; Increase the limit under section 80 C: A long standing demand has been to increase the 80 C limit from the current 1.5 lakhs (since 2014-15) to 2.5 lakhs. There are a whole slew of long-term savings options such as PPF, ELSS, NSC, NPS, Bank FDs etc. And an increase in this limit would encourage taxpayers to increase investments while saving taxes.&nbsp; Increase the limit under section 80 D: Experts say the limit under section 80D for claiming health insurance should be increased from Rs 25,000 to Rs 50,000 and for the elderly from Rs 50,000 to 75,000.&nbsp;
Home office expenses: With work from home continuing for a lot of companies, experts say that home office expenses should be allowed as a deduction.&nbsp;

Personal Finance

Indians living in certain countries who have an NRE / NRO account, will soon be able to make UPI payments. 

Indians living abroad can soon make UPI payments 

The NPCI (National payments corporation of India) has now allowed Indians living in as many as 10 countries to get onto the UPI platform. 

Indians living abroad can make UPI payments 

Indians living in certain countries who have an NRE / NRO account, will soon be able to make UPI payments.&nbsp;

If you're an Indian living abroad, you will soon be able to use the UPI payments system to make transactions. The NPCI (National payments corporation of India) has now allowed Indians living in as many as 10 countries to get onto the UPI platform.&nbsp;
To begin with, Indians living in Singapore, Australia, Canada, Hong Kong, Oman, Qatar, USA, Saudi Arabia, UAE, and UK will be able to transact using UPI.&nbsp;
However, the member banks will have to ensure that these accounts strictly adhere to FEMA rules and any guidelines that may be issued by the RBI.&nbsp;
NPCI has asked all the member banks to ensure that this is implemented by the 30th of April.&nbsp;
&nbsp;

As the cost of healthcare is rising with the on-going inflation and covid waves, senior citizens are hoping for a slew of measures from Finance Minister Nirmala Sitharaman in Union Budget 2023

Budget 2023: From medical expenses to tax deductions; here are senior citizens' expectations 

Budget 2023: senior citizens' expectations 

As the cost of healthcare is rising with the on-going inflation and pandemic impact, senior citizens are hoping for a slew of measures from Finance Minister Nirmala Sitharaman in Union Budget 2023

The impact of inflation and medical issues arising due to covid has taken a toll especially on senior citizens. With budget 2023 round the corner, senior citizens have a slew of expectations from Finance Minister Sitharaman.&nbsp; Mediclaim Premium for Senior citizens: &ldquo;If a senior citizen and spouse want to opt for an adequate, comprehensive cover, the premium amount could go well beyond Rs 50,000. The finance minister should look at raising Section 80D limit to Rs 1 lakh (under the old, with-exemptions tax regime),&rdquo; says Preeti Zende, Founder, ApnaDhan Financial Services.&nbsp;
Lock-in Period of Investments: Certain investments, such as fixed deposits with banks or post offices, NSCs, and Equity Linked Savings Schemes ('ELSS'), are eligible for deduction under Section 80C. Many senior citizens may require liquid cash for medical emergencies. It is expected that lock-in timelines will be revised and rationalised for senior citizens.
Increase savings and FD interest deduction: Senior citizens are entitled to tax deduction of up to Rs 50,000 under Section 80TTB on interest earned on bank and Post Office savings fixed deposits. &ldquo;In view of rising inflation that eats into their savings and limited sources of income, this limit should be raised to Rs 1 lakh,&rdquo; says Kuldip Kumar, Partner, Vialto Partners.&nbsp;

Self-declaration through non face-to-face channels sufficient for Re-KYC process, says Reserve Bank of India

Re-KYC can be done online, says RBI 

No branch visit needed for Re-KYC, says RBI 

Self-declaration through non face-to-face channels sufficient for Re-KYC process, says Reserve Bank of India

Bank customers will no longer need a branch visit to update KYC information. This is as per new guidelines that have been put in place by the Reserve Bank of India. RBI&rsquo;s notification says, &ldquo;If there is no change in KYC information, a self-declaration to that effect from the individual customer is sufficient to complete the re-KYC process&rdquo;.
Banks will have to allow customers to self-declare KYC information without a branch visit, through channels such as registered e-mail ids, mobile numbers, online banking, and ATMs. In case of a change of address, the bank will have to undertake address verification within two months after the customer submits the updated address details through online channels.&nbsp; However, customers may have to do a fresh KYC if the documents with the bank are not updated with the list of offically valid documents or if such documents have expired. In such cases, the fresh KYC can be done by either visiting a bank branch or remotely through a video based customer identification procress (if enabled by the bank).&nbsp;&nbsp;
&nbsp;

Battery repair cost on iPhone 13 and older models is about to get expensive in the US.

US: Battery replacement on iPhones to get expensive

Battery repair cost on iPhone 13 and older models is about to get expensive in the US.

Starting March 1st, the cost to replace the battery in an out-of-warranty iPhone 13 or older model in the US will increase by $20.&nbsp;
 Apple currently charges $69 to replace the battery in an out-of-warranty iPhone 13, iPhone 12, iPhone 11, or iPhone X. The cost of battery replacement on an out-of-warranty iPhone SE, iPhone 8, or older model $49.&nbsp;
 It is currently unknown whether the battery replacement cost for out-of-warranty iPhone models will change in India or not.

Cars to become expensive from Jan 1st; Here's a list of companies which have hiked price 

Cars to become expensive from Jan 1st?

The price increment announced by the carmakers will take effect from January 2023

Amid a constant increase in input costs and overall inflation, major automakers have announced that they will be increasing the price of vehicles in India starting January 2023.&nbsp;
From India&rsquo;s largest carmaker, Maruti Suzuki to luxury automaker, Mercedes-Benz have announced that they will hike the prices of its models from January 2023 and that the increase will vary for different models.&nbsp;
While Maruti stated that recent regulatory requirements and inflation are the reasons behind why it announced the hike for different models, Mercedes-Benz said a constant increase in input costs and increased logistics costs have been exerting significant pressure on the overall operational costs of the company.&nbsp;&nbsp;
Other than this, companies like Honda, Tata Motors, Hyundai, Mercedes-Benz, Audi, Renault, Kia India and MG Motor have also made the year-end announcements to hike prices from Janurary 1st.&nbsp;&nbsp;

People's demand for hotels changing? Here's what new generation is preferring 

Homestays and 3-star hotels are in maximum demand for Christmas Holidays

People's demand for hotels changing? Here's what new generation is preferring 

Demand for hotels is up by 17 per cent and now at par with the pre-COVID level

As the year-end festivities and Christmas Holidays are around the corner, demand for homestays and 3-star hotels have surged and contributed to almost 60% of the searches for hotels for the upcoming holiday season.&nbsp;
According to the latest Justdial Consumer Insights report, Demand for Home Stays saw a meteoric 135 per cent jump, and that for 3-star hotels rose by 18 per cent, while that for others remained stable.&nbsp;&nbsp;
Among Tier-I cities, demand for homestays remained the highest in Mumbai, Bengaluru, and Delhi.
While searches for Hotels soared, searches for Bars, Fast Food, Food Delivery, and Dhabas made up for the top-5 most searched services during this holiday and party season. Hotels dominated with 27 per cent of the overall searches followed by Bars (23 per cent), Fast Food (18 per cent), Food Delivery (17 per cent), and Dhabas (14 per cent).

Budget 2023

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Business

Adani row: Rahul Gandhi shows old pic of Modi, Gautam Adani in Lok Sabha, asks 'what's the relationship?'

Watch: over Adani row, Opposition MPs enter Rajya Sabha well to protest; House adjourned for 1 hour

Adani row: Day 4 of protest - disruption in Lok Sabha leads to 1-hour adjournment

Banks' exposure to Adani group 'insufficient', face limited risk: Fitch

Paytm share price rallies for 2nd day in row

Layoffs wave continues: Boeing to cut 2000 jobs

LIC issues statement amid concerns over exposure to Adani group

Markets

Adani stocks fall sharply; Adani Total Gas tumbles over 39% in 3 days

Bloodbath on Dalal Street, Adani stocks collapse

OYO to refile updated draft IPO papers by mid February

Year ender 2022: From OYO to Fabindia; IPOs that can hit Dalal Street in 2023

Sula Vineyards IPO opens: Should you subscribe it?

Sula Vineyards set for IPO launch on December 12

After Paytm, SoftBank sells half of its stake in PolicyBazaar

Personal Finance

Budget 2023: What does the salaried class want?

Indians living abroad can make UPI payments

Budget 2023: From medical expenses to tax deductions; here are senior citizens' expectations

No need to visit bank branch for Re-KYC, says RBI

US: Battery replacement on iPhones to get expensive

Cars to become expensive in 2023; List of automakers which have hiked price

People's demand for hotels changing? Here's what new generation is preferring

More Budget 2023 news

Budget 2023: The big numbers

Budget 2023 | Explained: tweaks to the personal tax regime

Budget 2023: What's cheaper, what's costlier? Cigarette, phone, TV, electric car parts duties changed

Union Budget 'not futuristic', 'anti-people': Mamata Banerjee

Budget 2023: PM Modi calls it a budget for the aspirational society

Opposition leaders criticise Union Budget 2023, say it doesn't address key issues

Budget 2023: No income tax upto ₹7 lakhs slab for the new regime

Budget's big numbers: ₹45 lakh crore, ₹27 lakh crore, 5.9% - earning, spending, fiscal deficit estimates

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