India News Get -BusinessBusiness News Update; Stock market, gold silver all-time high, petrol and diesel prices, DA rise
The big news yesterday was related to gold. Gold has reached its all-time high. The price of 10 grams of 24 carat gold increased by Rs 623 to reach Rs 76,553. At the same time, the Dear Allowance (DA) received by central employees was increased by 3%.
Before the big news of tomorrow, the big events of the day to watch…
There could be a rise in the stock market today. Infosys-Wipro second quarter results to be released. Today is the last day of Hyundai India’s IPO. There is no change in the prices of petrol and diesel.
Now read tomorrow’s big news…
1. Gold at an all-time high of ₹76,553: So far this year, it has become more expensive by ₹13,201, and may reach ₹78,000 by the end of the year.
Gold reached its all-time high on October 16. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24-carat gold increased by Rs 623 to Rs 76,553. A day before this, its price was Rs 75,930 per ten grams. Gold has become more expensive by Rs 13,201 so far this year. Its price on January 1, 2024 was Rs 63,352 per 10 grams.
At the same time, the price of silver has also increased. It increased by Rs 1,712 to Rs 91,512 per kg. The day before, silver was at Rs 89,800. This year, silver touched its all-time high of Rs 94,280 per kg on May 29.
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2. 3% increase in dearness allowance for central employees: Before Diwali, it was increased from 50% to 53%, 49 lakh central employees benefited from it.
The dearness allowance (DA) received by central employees has been increased by 3%. The decision on increasing the DA was taken at the cabinet meeting held on Wednesday, October 16. After this increase before Diwali, the dearness allowance increased from 50% to 53%.
Around 49.18 lakh central employees and 64.89 lakh pensioners will benefit. DA increases every 6 months. The increased DA will be applicable from July 1. In other words, employees will receive 3 months of arrears.
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3. MSP on wheat increased by ₹150, price by ₹2,425 quintal: Mustard oilseed increased by ₹300; Increase in gram, lentils, barley and safflower also
The central government on Wednesday (October 16) increased the minimum support price (MSP) of 6 Rabi crops. The highest increase was in mustard and oilseeds by Rs 300. The price of wheat was increased by Rs 150 per quintal. Thus, the minimum support price of wheat has become Rs 2,425 per quintal. The MSP of barley, gram, lentils and safflower have also been increased. This decision was taken by the Council of Ministers.
Rabi crops are sown at the time of withdrawal of monsoon (October-November). These crops are usually harvested during the summer season in April. These crops are little affected by rain. The main Rabi crops are wheat, gram, peas, mustard and barley.
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4. BEML to manufacture country’s first indigenous bullet train: contract worth ₹867 crore, rotating chair and on-board infotainment system will be available; Delivery will take place by 2026
BEML, a company that manufactures equipment used in railways, defense, transportation and mining, will make the coaches for the first indigenous high-speed train. The company got a contract worth Rs 867 crore for this.
This contract was awarded to the company by Integral Coach Factory (ICF), Chennai. After the deal to purchase the Bullet Train from Japan failed to close, the Indian Railways decided to build it in the country itself.
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5. Starlink to provide satellite broadband services in India: Government will not give away spectrum through auction, Reliance-Airtel had demanded; Musk protested
The government has decided to administratively allocate satellite communications (Satcom) spectrum. Earlier, Reliance Chairman Mukesh Ambani and Airtel Chairman Sunil Bharti Mittal had asked the government to allocate spectrum through auction.
Following this government decision, Starlink and SpaceX owner Elon Musk promised to provide satellite broadband service in India. He gave this information in his post X. Previously, Musk opposed the advice of the two Indian businessmen.
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