Top headlines: Budget set to boost capex; more Indian unicorns coming up

Facebook faces a 2.3 billion pound class action in Britain for the way it uses personal data. More on that in our top stories this hour.

The government is likely to set a capital expenditure target of more than Rs 6.5 trillion for 2022-23 (FY23) in the Budget. More about that in our top headlines this hour.

45 Indian start-ups at cusp of turning unicorn

India’s unicorn run is far from losing stream. The country, which added over 40 unicorns to its growing kitty in 2021, is looking at another 45 or so start-ups that have the potential to achieve $1-billion-plus valuation (the threshold to be called unicorn) in the near future.

Budget capital expenditure target may top Rs 6.5 trn

With public investment in high-multiplier infrastructure projects being its main plank for economic recovery, the Modi government is likely to set a capital expenditure (capex) target of more than Rs 6.5 trillion for 2022-23 (FY23) in the upcoming Budget, Business Standard has learnt. The main Budget numbers are still being finalised.

Children show signs of Covid infection

With the country in the grip of a third Covid-19 wave, the cases of symptomatic-infected children are on the rise, reveal medical experts. While the infection has been mild in most reported cases, those below two years of age are showing signs of acute infection.

Facebook faces $3.2 bn UK class action

Social media giant Facebook, now known as Meta Platforms, faces a 2.3 billion pound plus ($3.2 billion plus) class action in Britain over allegations it abused its market dominance by exploiting the personal data of 44 million users.

Indian firms monitor Sri Lanka financial crisis

Banks and companies in India are taking a cautious approach towards Sri Lanka, which, reeling from a financial crisis, has sought a $1-billion loan from the country to import essential commodities.