Thursday 19 September 2024
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Economy

TIMEs Worlds Best Companies of 2024

22 Indian-born companies were featured on TIME's World's Best Companies of 2024 list. The list consists of 1000 companies globally. The survey was conducted in over 50 countries with around 170,000 participants assessed companies based on direct and indirect recommendations, work conditions, salary, equality, and overall company image. Companies with revenues exceeding US$100 million in 2023 and demonstrated growth from 2021 to 2023 were evaluated.

List of all Indian firms, rankings

1. HCLTech - Rank: 112, Score: 91.75

2. Infosys - Rank: 119, Score: 91.55

3. Wipro - Rank: 134, Score: 91.29

4. Mahindra Group - Rank: 187, Score: 90.57

5. Axis Bank - Rank: 504, Score: 86.72

6. State Bank of India - Rank: 518, Score: 86.56 

7. ICICI Bank - Rank: 525, Score: 86.43

8. Larsen & Toubro - Rank: 549, Score: 86.12

9. Kotak Mahindra Bank - Rank: 551, Score: 86.10

10. ITC Limited - Rank: 586, Score: 85.60

11. Hero MotoCorp - Rank: 597, Score: 85.50

12. Reliance Industries - Rank: 646, Score: 84.87

13. Motherson Group - Rank: 697, Score: 84.19

14. Adani Group - Rank: 736, Score: 83.72

15. NTPC Limited -  Rank: 752, Score: 83.45

16. Yes Bank - Rank: 783, Score: 82.64

17. Bank of Baroda - Rank: 850, Score: 80.96

18. Godrej & Boyce - Rank: 921, Score: 78.30

19. Bajaj Group - Rank 952, Score: 76.39

20. Cipla - Rank: 957, Score: 76.04

21. Bharat Electronics Limited - Rank: 987, Score: 73.69

22. MRF - Rank: 993, Score: 72.98
 

Posted Date: September 13, 2024

Economy

The Life Insurance Corporation of India (LIC)

♦ The Life Insurance Corporation of India (LIC) has selected IT major Infosys to develop its NextGen digital platform.

♦ This initiative will focus on providing omnichannel experiences and data-driven hyper-personalization for customers, agents, and employees. 

♦ Infosys will provide LIC with turnkey system integration services using AI capabilities from Infosys Topaz and DevSecOps services from Infosys Cobalt.
What is NextGen Platform?

♦ The NextGen Digital Platform will be modular, flexible, cloud-native, and have platform driven architecture which will be capable of quickly adopting innovative technologies, new products and features.

♦ This platform will form the foundation for building high value business applications such as the Customer & Sales Super Apps, Portals and Digital Branch for LIC.

Posted Date: September 17, 2024

Indias growth forecast for the Financial Year 2024-25

♦ The World Bank has raised India’s growth forecast for the Financial Year 2024-25 to 7%, up from an earlier projection of 6.6 percent. World Bank projected this in its report, 'India Development Update: India’s Trade Opportunities in a Changing Global Context', released in New Delhi on 3 September 2024. 
Highlights

♦ The report underscores India’s status as the fastest-growing major economy, with an impressive growth rate of 8.2% recorded in FY23-24.

♦ The World Bank projects India's growth rate to stay strong at 7% for 2024-25, as noted in the India Development Update. While a slight slowdown in industry is expected, the recovery in agriculture will help balance this out, and the services sector will continue to perform well.

♦ India's medium-term economic growth rate will remain strong at an average of 6.7% over the next two fiscal years.

♦ The main challenges to India's economy include job creation. The urban unemployment rate remains high at an average of 17%, the World Bank said.

Posted Date: September 3, 2024

Gross GST collection in August

Gross GST collection in August 2024 recorded a 10 percent jump to Rs.1,74,962 crore. The country’s revenue from the Goods and Services Tax (GST) had stood at Rs.1,59,069 crore in August 2023.

♦ GST collections in July rose 10.3 percent to over Rs 1.82 lakh crore.

♦ The GST refunds during August 2024 stood at Rs 24,460 crore. After adjusting the refunds, India’s net GST collection rose 6.5 per cent to Rs 1,50,501 crore in August 2024, compared with Rs 1,41,346 crore a year ago.
 

Posted Date: September 1, 2024

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