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  • Union Budget: FICCI seeks increasing healthcare allocation to 2.5% of GDP

    Union Budget: FICCI seeks increasing healthcare allocation to 2.5% of GDP

    Indian economy has exhibited resilience, despite persisting downside risks. Economic Survey 2023-24 released in July 2024 projected India to grow at 6.5-7.0 percent in fiscal 2024-25 – which though a moderation from 8.2 percent growth reported in 2023-24 is encouraging given the global economic environment.

    Union Budget 2024-25 maintained a strong commitment towards balancing various objectives for achieving the vision of Viksit Bharat. Continuing and deepening the reforms agenda on nine priorities outlined in the Union Budget 2024-25 will be important for sustaining the resilience seen in the economy.

    The Centre should give additional thrust to the healthcare sector. Some of the recommendations are:

    • Increase Public Health Expenditure: India’s public expenditure on healthcare touched 2.1% of GDP in FY23 and 2.2% in FY22, against 1.6% in FY21, as per the Economic Survey. Yet it significantly lags the OECD average of 7.6% and BRICS countries’ average of 3.6%. FICCI recommends increasing this allocation to 2.5% of GDP by 2025, as envisioned in National Health Policy 2017. This will help to strengthen healthcare infrastructure, ensure equitable access, and move closer to Universal Health Coverage (UHC) goals.
    • Incentivizing Preventive Healthcare: Increase the tax exemption for preventive health check-ups under Section 80D from ₹5,000 to ₹20,000. Additionally, allow employers a separate annual deduction of ₹10,000 per employee for sponsoring these check-ups, over and above current medical reimbursement limits, given the rising advent of lifestyle diseases in India.
    • Promote Health Insurance: Double the deduction for health insurance premiums under Section 80D to ₹50,000. Expand eligible dependents under this provision to encourage broader health coverage.
    • Healthcare as Industrial Undertaking: Recognize hospitals as industrial undertakings under Section 72A, allowing tax loss carry-forward during mergers and restructuring. This aligns with practices in the manufacturing sector and incentivizes investments in Tier 2 and Tier 3 cities.
    • Additional Depreciation for Diagnostics Infrastructure: To meet rising healthcare demands under Ayushman Bharat, the government should provide 50% additional depreciation under Section 32 of the IT Act for investments in diagnostic infrastructure, especially outside metro cities. This aligns with depreciation benefits in other sectors and supports the vision of affordable healthcare for all.
    • Import duties on lifesaving equipment should be reduced to ensure affordable healthcare delivery. Offering tax incentives to domestic manufacturers will attract global manufacturers. Additionally, increase the depreciation rate for lifesaving equipment from 40% to 60%, considering their short lifespan and fast-paced technological advancements.
    • Incentivize Medical Value Travel for the healthcare sector to contribute to India’s foreign exchange earnings.

    FICCI

  • Palestinian Authority suspends broadcast of Qatar’s Al Jazeera TV temporarily

    Palestinian Authority suspends broadcast of Qatar’s Al Jazeera TV temporarily

    The Palestinian Authority temporarily halted operations of Qatar’s Al Jazeera television in the territory, including its broadcasts, citing the network’s dissemination of “inciting material,” the Palestinian news agency WAFA said on Wednesday.

    The culture, interior and communications ministers made the decision jointly because the channel broadcast material that was “deceiving and stirring strife,” WAFA said without providing details on the subject matter.

    The Palestinian Authority criticised Al Jazeera last week over its coverage of the weeks-long standoff between Palestinian security forces and militant fighters in the Jenin camp in the Israeli-occupied West Bank.

    Al Jazeera denounced Wednesday’s decision as “an attempt to discourage it from reporting spiraling events in the occupied territories,” according to a statement.

    It called on the Palestinian Authority to rescind the decision and allow its journalists to report freely from the West Bank without intimidation.

    The decision was not expected to be implemented in Hamas-run Gaza where the Palestinian Authority does not exercise power.

    Fatah, the faction that controls the Palestinian Authority, said the broadcaster was sowing division in “our Arab homeland in general and in Palestine in particular”. It encouraged Palestinians not to cooperate with the network.

    The Israeli military in September raided Al Jazeera’s bureau in the West Bank city of Ramallah and ordered it shut.

    Israel in May issued an order barring the channel from operating and broadcasting in the country, saying it posed a threat to Israeli security. A court subsequently upheld the ban. Reuters

  • FCC Jessica Rosenworcel reveals main achievements in 2024

    FCC Jessica Rosenworcel reveals main achievements in 2024

    Jessica Rosenworcel will be stepping down shortly. Brendan Carr will be the next Chairman of FCC.

    The FCC highlighted its efforts to expand communication access in 2024, emphasizing the Affordable Connectivity Program (ACP), which was the largest broadband affordability initiative in U.S. history, connecting over 23 million households before funding expired in May. Despite this setback, the FCC introduced new measures, including allowing schools and libraries to use E-Rate funding for Wi-Fi hotspots and improving broadband access in Tribal communities. The FCC advanced its Broadband Data Collection, enhancing the National Broadband Map and restarting the 5G Fund for Rural America, with $9 billion allocated for rural areas and increased support for Alaska. Accessibility was also prioritized, mandating 100 percent hearing aid compatibility for mobile phones and improving accessibility for video conferencing services, closed captioning, and relay services for people with disabilities.

    The FCC emphasized efforts to ensure the digital revolution benefits vulnerable populations. The 988 Suicide & Crisis Lifeline, with text and geographically routed calls, has tripled in usage, providing critical support. Initiatives were expanded to protect domestic violence survivors, including examining connected car services used for stalking. A new alert code for Missing and Endangered Persons now delivers emergency messages for adults, crucial for Tribal communities facing disproportionate risks. Wireless Emergency Alerts were enhanced to support over a dozen languages and American Sign Language, ensuring inclusive communication during disasters. To address the financial burden on families of incarcerated individuals, the FCC implemented the Martha Wright-Reed Act, drastically reducing costs for voice and video calls in correctional facilities.

    The FCC prioritized consumer protection in 2024, targeting robocalls, robotexts, and deceptive practices. Expanded rules blocked more unwanted communications, enforced penalties for carriers failing to prevent illegal calls, simplified consent revocation, and introduced proposals to regulate AI-generated robocalls and robotexts. Caller ID authentication was strengthened, and traffic from an international gateway linked to illegal robocalls was blocked. Partnerships with 49 state Attorneys General bolstered efforts against junk calls. Transparency was improved with “all-in” pricing rules for cable and satellite providers, and reviews were initiated on service quality and data cap practices. Consumer privacy was enhanced through agreements with major wireless carriers, advancing data protection and cybersecurity.

    In 2024, the FCC prioritized national security and public safety through disaster response, emergency communications, cybersecurity, and measures to address new threats like AI misuse. During hurricanes, the FCC activated its Mandatory Disaster Response initiative, aiding recovery efforts and improving outage reporting. Emergency response was enhanced with precise location-based routing for 911 calls and expedited deployment of Next Generation 911 capabilities, including video and text. Rules were adopted to provide public safety users access to the 4.9 GHz spectrum for advanced technologies like 5G.

    The FCC investigated a nationwide wireless outage, issuing recommendations to prevent future incidents. It strengthened cybersecurity with a new labeling program for secure IoT devices, improved internet routing security, and a pilot program to support cybersecurity for schools and libraries. Responding to the Salt Typhoon cyberattack, the FCC coordinated with national security agencies, emphasized carriers’ obligations to secure networks, and proposed new defenses against cyber threats.

    To counter the misuse of AI, the FCC fined an individual $6 million for illegal AI-generated robocalls in the New Hampshire primary and proposed requiring disclosure of AI use in political ads. The agency also updated submarine cable policies to secure international communications infrastructure and enhanced foreign sponsorship identification rules for content broadcast on public airwaves.

    The FCC focused on shaping the future of technology while addressing present-day challenges, with a particular emphasis on space innovation. The newly established Space Bureau implemented frameworks for in-space servicing, assembly, and manufacturing (ISAM), advanced seamless satellite-terrestrial networks to eliminate coverage gaps, updated orbital debris rules, and modernized spectrum sharing for non-geostationary satellites. It expanded spectrum use for high-throughput satellite communications and issued a record number of licenses to support next-generation satellite services.

    Beyond space, the FCC opened spectrum for broadband on planes and ships, dedicated frequencies for uncrewed drone technology, and raised the national broadband speed benchmark to 100 Mbps upload and 20 Mbps download, with a long-term goal of 1 Gbps. Internationally, the FCC engaged with stakeholders from 78 countries to share best practices and advocate policies on issues like spectrum management and satellite licensing. Domestically, the Commission won an Emmy for its innovative Broadcast Incentive Auction and credited its achievements to collaboration within the agency and with its partners. These efforts aim to build an inclusive digital future that leverages advanced technologies for all. Philanthropy News Diges

  • Viacom18 becomes subsidiary of Reliance

    Viacom18 becomes subsidiary of Reliance

    Earlier, Viacom18 Media had been a material subsidiary of Network18 Media & Investments Ltd, a subsidiary of Reliance Industries Ltd (RIL).

    Consequently, Viacom18 has become a subsidiary of the Company effective December 30, 2024, and has ceased to be a subsidiary of Network18.

    The company received intimation of allotment of equity shares from Viacom18 on December 30, 2024, said RIL in a regulatory filing.

    On December 30, billionaire Mukesh Ambani-led RIL converted 24,61,33,682 CCPS into equivalent of share, making it a direct subsidiary.

    RIL was holding a 70.49 per cent stake in Viacom18 Media on a fully diluted basis.

    “This comprised 5,57,27,821 equity shares and 24,61,33,682 compulsorily convertible preference shares (‘CCPS’).

    “Viacom18 was a material subsidiary of Network18 Media & Investments Limited (‘Network18’),” it said.

    Pursuant to the approval granted by the shareholders of Network18 for Viacom18 ceasing to be a subsidiary of Network18 and Network18 ceasing to exercise control over Viacom18, the company has on December 30, 2024 converted the 24.61 crore CCPS into an equivalent number of equity shares.

    “Post this conversion, the Company holds 83.88 per cent of the total equity share capital of Viacom18 and continues to hold 70.49 per cent on a fully diluted basis,” RIL said.

    On November 14, RIL completed the merger of its media empire with the India business of the global media house Walt Disney to form a Joint Venture having a valuation of over Rs 70,000 crore.

    The venture was formed after merging the media and JioCinema businesses of Viacom18 into Star India.

    It has allotted shares to Viacom18 and RIL as consideration for the assets and cash, respectively. Rediff

  • Starlink Satellite Internet to launch in India soon as spectrum allocation nears completion

    Starlink Satellite Internet to launch in India soon as spectrum allocation nears completion

    Elon Musk’s Starlink satellite broadband service is all set to enter the Indian market, as telecom regulators are preparing to allocate spectrum for satellite internet services. With this, users in India can soon enjoy high-speed internet connectivity via satellite, even in areas without mobile networks or optical fibre access. However, alongside Starlink, other telecom giants such as Jio Satcom, Airtel OneWeb, and Amazon Kuiper are also vying for a piece of the satellite broadband market.

    Spectrum allocation for Starlink Satellite Internet Service nears completion
    The Department of Telecommunications (DoT) is preparing to make decisions on the allocation of spectrum for satellite broadband services after receiving recommendations from the telecom regulator by December 15, 2024. Spectrum allocation is expected to follow a process similar to that of 2G services, though Jio and Airtel advocate for the allocation through an auction model.

    For now, Starlink, which launched its satellite internet service in countries like the US, Europe, and Australia, is aiming to complete the regulatory compliances to begin operations in India. The company had filed for permission to launch satellite broadband in India as early as 2022. Recent statements from Starlink suggest that all required compliances will be fulfilled shortly, paving the way for a service launch soon.

    Jio, Airtel, and Amazon prepare for competition in Satellite internet space
    Both Jio and Airtel have completed their regulatory processes, which makes them ready to kick-start satellite broadband services once spectrum is allocated. On the other hand, Starlink and Amazon Kuiper are in the process of finalizing their compliance with Indian regulations before they can roll out services.

    The Union Communications Minister, Jyotiraditya Scindia, confirmed that a decision regarding the spectrum allocation could be made by the end of January 2025. The decision will be crucial in determining when satellite internet services will officially launch in India. Once operational, satellite broadband will be a game-changer, offering users in remote areas access to fast, reliable internet. India TV News

  • Sadhna Broadcast hits 52-week low at Rs. 2.85 amid 35.32% annual decline

    Sadhna Broadcast hits 52-week low at Rs. 2.85 amid 35.32% annual decline

    Sadhna Broadcast, a microcap company in the TV broadcasting and software industry, has recently reached a new 52-week low, with its stock price hitting Rs. 2.85 on January 1, 2025. This decline marks a significant downturn for the company, which has experienced a 35.32% decrease in its stock value over the past year. In contrast, the Sensex has shown a positive performance of 8.02% during the same period.

    Despite the overall decline, Sadhna Broadcast’s stock performance today has outperformed its sector by 1.61%. However, the company is currently trading below its moving averages across various time frames, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. The stock has received a ‘Strong Sell’ rating from MarketsMOJO, indicating a bearish outlook. Investors and market watchers will be closely monitoring Sadhna Broadcast’s performance as it navigates these challenging market conditions. MarketsMojo

  • Cartoon Network closes its website after 26 years?

    Cartoon Network closes its website after 26 years?

    Cartoon Network has officially closed its website after 26 years, marking the end of an era for the beloved television channel that shaped childhoods over the past three decades, according to reports. The closure is part of Warner Bros. Discovery’s cost-cutting efforts as the channel transitions to focus more on the modern streaming world.

    According to reports by Hypebeast, Cartoon Network, now owned by Warner Bros. Discovery, has seen its website shut down as part of the company’s strategy to streamline its digital platforms. Although the website is no longer active, the channel itself continues to operate.

    Visitors to CartoonNetwork.com are now redirected to Max, Warner Bros. Discovery’s primary streaming service, reflecting the company’s focus on consolidating its digital presence.

    For many years, Cartoon Network’s website was a hub for iconic Flash games and exclusive content from beloved shows like Dexter’s Laboratory, The Powerpuff Girls, Samurai Jack, Teen Titans Go!, and more. As part of Warner Bros. Discovery’s new cost-cutting strategy, the company is now focusing on expanding the channel’s reach through other platforms.

    While fans can still enjoy their favorite shows on streaming services, the closure of the website marks the end of an era, leaving behind a sense of nostalgia for those whose childhoods were shaped by Cartoon Network. MoneyControl

  • Bhuvnesh Kumar appointed CEO of UIDAI

    Bhuvnesh Kumar appointed CEO of UIDAI

    Identification Authority of India (UIDAI), an official release said on Wednesday.

    Kumar also continues to be an Additional Secretary in the Ministry of Electronics and Information Technology (MeitY).

    He takes over from Amit Agrawal who has been appointed as the new pharma secretary.

    “Bhuvnesh Kumar assumed charge as the Chief Executive Officer (CEO) of Unique Identification Authority of India (UIDAI) on Wednesday,” an official release said.

    Kumar is an IAS officer of the 1995 batch from the Uttar Pradesh cadre.

    “A graduate and gold medalist from the National Institute of Technology, Kurukshetra, he held several important positions both at the Centre and in his cadre state,” the release said.

    Earlier, he also served as the Joint Secretary in MeitY.

    In Uttar Pradesh, he served as the Principal Secretary in the Department of Animal Husbandry, Dairy Development and Fisheries.

    Previously, he was the Secretary Finance, Secretary MSME, Secretary Technical Education and Divisional Commissioner Department of Land Revenue in the Government of Uttar Pradesh. PTI

  • Reliance Jio sets the ball rolling for a Rs 40,000 crore IPO

    Reliance Jio sets the ball rolling for a Rs 40,000 crore IPO

    Billionaire Mukesh Ambani is understood to have started the process for the initial public offer of Reliance Industries’ telecom arm, Reliance Jio Infocomm, and sources estimated the size of the offer in the range of ₹35,000-40,000 crore.

    The public offer will consist of an offer for sale component and a fresh issue with a pre-IPO placement, sources said. They added that the Reliance group was aiming for the issue to hit the market in the second half of the year and if it goes through as per schedule, it will be the largest IPO in India.

    Pre-IPO placement
    Preliminary talks have already started for a pre-IPO placement, the sources added. While the size of the issue will be large, there would be ample appetite for it, bankers said, adding that there should not be any difficulty getting subscriptions.

    The amount of the pre-IPO placement will depend on the size of the fresh issue, investment bankers said. The split between OFS and the fresh issue is still being decided.

    There was no response to emails sent to RIL for clarification on the proposed issuance.

    The OFS component is likely to be significant as it would provide the opportunity for a partial or full exit for many of the investors in it. RJio is housed under Jio Platforms, in which foreign investors own about 33 per cent stake. RIL had sold stakes in it to a range of funds such as Abu Dhabi Investment Authority, KKR, Mubadala, and Silver Lake to raise close to $18 billion in 2020.

    Valuation estimate
    While various brokerages have estimated the valuation of RJio at around $100 billion, sources said that it is likely to be higher at around $120 billion as Jio Platforms is central to RIL’s investments in next-generation technologies, including retail.

    Recently Jio Platforms announced its partnership with global technology giant Nvidia to collaborate on developing AI language models, with Ambani looking to disrupt the AI space with innovative solutions.

    The tech push as well as the focus on AI is expected to give it a competitive edge over startups. RJio has also obtained regulatory approval to launch satellite internet services.

    RIL has spent close to $3 billion over the last 5 years in acquisitions for its telecom, internet and digital businesses.

    Reliance Jio is the largest telecom operator in the country with 460 million wireless subscribers at the end of October. Despite losing subscribers since it raised tariffs in June last year, it has maintained its lead. The hike in tariffs resulted in a big spike in its profitability in the September quarter and was seen as a part of its strategy to monetise its 5G services ahead of its listing. The Hindu BusinessLine

  • Manish Singhal appointed ASSOCHAM’s Secretary General

    Manish Singhal appointed ASSOCHAM’s Secretary General

    Associated Chambers of Commerce and Industry of India (ASSOCHAM), an apex business chamber, has a new Secretary General in Manish Singhal.

    Singhal, an industry leader with over 35 years of experience in Chamber and Corporate India, had earlier worked as Deputy Secretary General of The Federation of Indian Chambers of Commerce and Industry (FICCI).

    He had also worked with various Indian transnational companies, including Tata Motors, Eicher (Volvo), Tata Auto Comp Systems, Moser Baer India and BEML to name a few.

    Singhal succeeds Deepak Sood, who recently after a five-year stint stepped down to pursue other interests.

    “We welcome Manish on board and look forward to him furthering ASSOCHAM’s impact. He has a proven track record in policy advocacy and international business, which will help the Chamber scale greater heights”, said Sanjay Nayar, President of ASSOCHAM. The Hindu BusinessLine