Business tycoon Pallonji Mistry, who headed the Shapoorji Pallonji Group, passed away at the age of 93 late night on Monday, 27th June 2022.

 

Mistry had been felicitated with the Padma Bhushan, one of India’s top civilian awards, in 2016. An Irish citizen, the business magnate had also been known as the “Phantom of Bombay House” for keeping low profile.

 

According to the latest Forbes data, he had a net worth of over $13 billion, ranking at 143 worldwide.

The Union Minister for Agriculture and Farmers Welfare, Narendra Singh Tomar launched the Honey Testing Laboratory at Dimapur during his visit to Nagaland.

 

The honey testing laboratory will help beekeepers and processors to test their honey produced.

 

Tomar was attending an event organised at the North-East Agri Expo, Chumaokedlma on Monday(27th June 2022).

 

The event also witnessed the presence of G. Kaito, Agriculture Minister of Nagaland, Chief Secretary, J. Alam and Central Horticulture Commissioner Prabhat Kumar amongst others.

 

Speaking at the occasion tomar said “The Northeast Region cannot be overlooked when it comes to all-round development. Therefore, through the schemes, programmes, funding and institutions of the government, we aim to make north east region self-reliant.”

 

The Agriculture Minister also visited the Bamboo Museum and Organic AC Market..

Source : KNN India

A report titled “India’s Booming Gig and Platform Economy” was released by NITI Aayog. Suman Bery, vice chairman of NITI Aayog, Amitabh Kant, and Dr K Rajeswara Rao, special secretary, released the report. The study, which is a first of its kind, offers in-depth viewpoints and suggestions on the gig-platform economy in India.

CEO Amitabh Kant emphasised the industry’s potential to generate jobs in light of India’s growing urbanisation, and widespread access to the internet, digital technology, and cellphones.

 

* The report offers a comprehensive methodical approach to calculating the sector’s current size and potential for employment creation.

* It examines the benefits and drawbacks of this developing industry, shows international best practices for social security programmes, and outlines plans for skill development and job creation for various worker categories in the industry.

 

 

* According to the research, the gig economy employed 77 lakh (7.7 million) employees in 2020–21.

* They made up 1.5 percent of India’s total labour force or 2.6 percent of the non-agricultural workforce.

* By 2029–2030, there will be 2.35 crore (23.5 million) workers in the gig economy. By 2029–2030, it is anticipated that gig workers will account for 6.7 percent of India’s non-agricultural workforce and 4.1 percent of all income.

* Currently, medium-skilled occupations make up approximately 47% of gig labour, high skilled jobs make up about 22%, and low-skilled jobs make up about 31%.

* The trend indicates that the concentration of workers with medium skills is gradually decreasing while it is rising for those with low and high skills.

* The report suggests connecting self-employed people in the business of selling regional and rural cuisine, street food, etc., with platforms in order to enable them to sell their products to larger markets in towns and cities to accelerate access to finance through products specifically designed for platform workers.

* The report recommends platform-led transformational and outcome-based skilling, improving social inclusion through programmes that educate workers and their families about gender issues and accessibility, and extending social security measures in partnership as envisioned by the Code on Social Security 2020.

Other suggestions include conducting a second census exercise to calculate the size of the gig and platform workforce and gathering data during official censuses (Periodic Labour Force Survey) to identify gig workers.

Source : PIB

The National Insurance Awareness Day is observed on 28 June annually to make people aware about the several benefits of investing in an insurance plan or policy. Insurance policies offer financial cover in case of unfortunate happenings such as injury, accident or losses in business, among others, if one remembers to pay their premium regularly.

 

 

Nicholas Barbon, an English economist, physician, and financial speculator set up the first fire insurance company in 1666 CE. He came up with this idea after a huge fire in London destroyed the city. After that, Barbon was successful in forming the first actual insurance company known as The Insurance Office, which was located in a small building behind London’s Royal Exchange.  From then on, the insurance market has only expanded to newer sectors.

 

This special day is a reminder to check if all your insurance payments (or renewals) are up to date..

Source : First Post

The adoption of artificial intelligence (AI) and data utilisation strategy can add $500 billion to India's GDP by 2025, a new Nasscom report showed on Thursday(23rd June 2022).

 

The AI adoption in four key sectors -- BFSI, consumer packaged goods (CPG) and retail, healthcare, and industrials/automotive -- can contribute 60 per cent of the total $ 500 billion opportunity, according to "AI Adoption Index" Nasscom, EY and Microsoft, EXL and Capgemini.

 

Though the current rate of AI investments in India is growing at a compound annual growth rate (CAGR) of 30.8 per cent and poised to reach $881 million by 2023, it will still represent just 2.5 per cent of the total global AI investments of $340 billion.

 

This creates a massive opportunity for Indian enterprises to accelerate investments and adoption of AI to drive equitable growth across sectors.

 

For India to achieve its $1 trillion GDP goal by FY 2026-2027, it needs to have a strong correlation to the maturity of AI adoption.

Source : Business Standard

Khushi Patel, a biomedical student from the United Kingdom, has been declared the winner of the Miss India Worldwide 2022, the longest-running Indian pageant outside of India.

 

Vaidehi Dongre from the US was declared the first runner up on Friday(24th June 2022) night while Shrutika Mane was adjudged the second runner up. The top 12 contestants at the pageant were the winners of various other contests globally.

 

Patel, who is doing her major in biomedical sciences and minor in psychology, said that she is delighted to have won the Miss India Worldwide 2022 pageant.

 

Over the next one year, the model, who also owns a clothing store, plans to do a lot of charity events and help third-world countries.

 

Roshani Razack from Guyana was declared Miss Teen India Worldwide 2022. Navya Paingol from the US was the first runner up, while Chiquita Malaha from Suriname was the second runner up, according to India Festival Committee (IFC), which has been organising the event for the past 29 years..

Source : The Print

Just like 2019 and 2018, Vienna (Austria) is ranked first in 2022. Rankings for liveability have a lot to do with the lifting of COVID-19 limitations.

 

Western European cities continue to dominate the top ten Economist Intelligence Unit (EIU) rankings, along with a few from Canada. Copenhagen is in second place, just behind Vienna, and Calgary has moved up from 18th to tie for third with Zurich as a result of the lifting of the COVID-19 restrictions. Mid-sized cities generally perform particularly well in the study of the richest nations.

 

The top 10 cities include several with minor COVID-19 regulations. Schools, restaurants, museums, and retail establishments have all reopened. The number of hospitalizations caused by the pandemic has decreased, reducing the strain on healthcare services and resources. Cities that were near the top of the rankings prior to the pandemic have therefore recovered thanks to their stability, solid infrastructure and services, and fun recreational opportunities..



Source : Mint

Justice Satish Chandra Sharma on Tuesday(28th June 2022) took oath as Chief Justice of the Delhi High Court.

 

The oath was administered by Lieutenant Governor Vinai Kumar Saxena during a ceremony at the Raj Niwas.

 

The Telangana High Court Chief Justice, Sharma has been transferred to the Delhi High Court following the notification of the Central government.

 

"In exercise of the power conferred by clause (1) of Article 222 of the Constitution of India, the President, after consultation with the Chief Justice of India, is pleased to transfer Justice Satish Chandra Sharma, Chief Justice, Telangana High Court, as the Chief Justice of the Delhi High Court and to direct him to assume charge of the office of the Chief Justice of the Delhi High Court," read the notification dated June 19, 2022.

 

Justice Vipin Sanghi, who was the Acting Chief Justice of the Delhi High Court before the appointment of Sharma, was transferred as the Chief Justice of Uttarakhand High Court.

 

Sharma was born on November 30, 1961, in hopal. He graduated as the topper of the LL.B. degree in 1984 with three gold medals from Hari Singh Gour University, Sagar..

Source : Business Standard

Department of Animal Husbandry and Dairying(DAHD) will launch the "One Health Pilot" project in Bengaluru on Tuesday(28th June 2022), a press release said. The pilot will help develop a roadmap for a national project to prevent future outbreaks of zoonotic disease by using "better response mechanism and management while incorporating global best practices", the press release added.

 

Atul Chaturvedi, Secretary, DAHD, Ministry of Fisheries, Animal Husbandry and Dairying will be launching the pilot project in Bengaluru.

 

“DAHD in collaboration with the Bill & Melinda Gates Foundation (BMGF) and The Confederation of Indian Industry (CII) as implementation partner is implementing the One-Health Framework undertaking project in the states of Karnataka and Uttarakhand,” the Ministry of Fisheries, Animal Husbandry & Dairying said.

 

“DAHD would develop a national One Health roadmap based on the learnings of this initiative which in turn would help to prevent the future zoonotic disease outbreaks, equipped with better response mechanism and management while incorporating global best practices..

Source : India Today

Venkataraman Krishnamurthy, who is considered as the turnaround man of several Indian corporate houses like BHEL, Maruti Udyog, SAIL and Gail (India), passed away on Sunday(26th June 2022) at the age of 97.

 

Krishnamurthy is considered as "the father of public sector undertakings in India" by many in India Inc. Born in the temple town of Tamil Nadu's Karuveli, he started his career as an airfield technician during the Second World War.

He's probably the only person in India Inc who has the enviable recognition of being the chief executive officer of Bharat Heavy Electricals, Maruti Udyog, Steel Authority of India and GAIL (India). He was the founder chairman of Maruti Udyog Ltd and is known for working behind the introduction of the iconic Maruti 800..

Source : Business Standard