India economy & business news in brief for Feb 27: Modi lauds India’s automobile industry at Tamil Nadu event

• Shubham
• 27 February, 2024

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By: Shubham Ghosh

HERE are news in brief on Indian economy and business for Tuesday, February 27, 2024:

Indian prime minister Narendra Modi on Tuesday participated in a programme titled ‘Creating the Future – Digital Mobility for Automotive MSME Entrepreneurs’ in Madurai in the southern Indian state of Tamil Nadu, and addressed thousands of micro, small and medium enterprises (MSMEs) entrepreneurs working in the automotive sector. He termed automobile industry as a powerhouse of the economy and added that MSMEs are key players in propelling that industry forward. “Automobiles not only provide pace on the road…Automobile industry also gives the similar pace to the national economy and to its growth story,” the PM said addressing the entrepreneurs. He also lauded Tamil Nadu, which has a large number of automobile companies operating and producing for India and the world.

Zee Entertainment Enterprises Ltd on Tuesday said its board has expanded the scope of an independent advisory panel to include investigation assessment. The announcement by the company comes amid a probe by market regulator SEBI against its promoters for alleged fund diversion. In a regulatory filing on Tuesday, Zee Entertainment Enterprises Ltd (ZEEL) said, “On recommendation of the audit committee, the Board of Directors of the company, in its meeting held today, has considered and approved to further expand and strengthen the role of the ‘Independent Advisory Committee’ by including ‘Investigation Assessment’ as a primary responsibility of this Committee.”

No new taxes were proposed in the interim budget for 2024-25 presented by the government of the western Indian state of Maharashtra on Tuesday. The government, however, announced plans to set up chemotherapy centres in all districts and an AIIMS in Pune, and said guest houses will be built in Srinagar in Kashmir and Ayodhya in Uttar Pradesh for tourists and devotees from the state. Deputy chief minister Ajit Pawar, who holds the finance portfolio, presented the interim budget in the Assembly and pegged the total expenditure for the next financial year at Rs 600,522 crore (57 billion) with a revenue deficit of Rs 9,734 crore (£925.3 million).

(Agencies)