In a significant development, India’s largest conglomerate undertook a massive layoff drive reducing its workforce by 11% in the fiscal year 2023-24. Watch the video to know the details.

In a significant development, India's largest conglomerate undertook a massive layoff drive reducing its workforce by 11% in the fiscal year 2023-24. Watch the video to know the details.

RIL's massive layoff drive; 11% jobs cut

RIL’s massive layoff drive; 11% jobs cut

The Union corporate affairs ministry has proposed amendments to rules in relation to fast-track mergers as part of larger efforts to improve the ease of doing business.
Section 233 of the Companies Act, 2013, provides for mergers or amalgamation of certain companies (fast-track mergers) through approval of the central government. The ministry has delegated the powers to regional directors in this regard.
The ministry has sought public comments till May 5 on the proposed amendments in the rules to widen the scope of fast-track mergers under the Act, according to a release on Saturday.
In her Union Budget speech on February 1, Finance Minister Nirmala Sitharaman had said the government would rationalise the requirements and procedures for speedy approval for mergers of companies and the scope for fast-track mergers would be widened.
"Requirements and procedures for speedy approval of company mergers will be rationalised. The scope for fast-track mergers will also be widened and the .

The ministry has sought public comments till May 5 on the proposed amendments in the rules to widen the scope of fast-track mergers under the Act

Dr Reddy's Laboratories Ltd on Saturday said it has received a showcause notice from the income tax authority with a proposed demand of over Rs 2,395 crore from it related to the merger of Dr Reddy's Holding Ltd (DRHL) with itself.
The company has received a show cause notice on April 4, 2025, from the office of the Assistant Commissioner of Income Tax, Hyderabad, Dr Reddy's Laboratories Ltd said in a regulatory filing.
It requires the company to respond as to why notice should not be issued for assessment of income alleged to be escaped from tax consequent to the merger of DRHL into Dr Reddy's Laboratories Ltd (DRL) under the scheme of amalgamation approved by the National Company Law Tribunal (NCLT), Hyderabad on April 5, 2022, the filing added.
"The notice quantifies the proposed demand of Rs 23,95,81,79,470," the company said.
DRL asserted that said scheme of amalgamation was carried with adherence to all the legal requirements including tax laws.
"Further this was approved by

The company further said it strongly believes that there is no escaping of tax pursuant to the said merger scheme

From carrying rocket parts on bicycles and satellites on bullock carts in the 1970s, India has become one of the world leaders in the space sector through its successful Mars orbiter and Chandrayaan missions, which have also made several world records, ISRO chairman V Narayanan said here on Saturday.
Speaking at the 27th convocation of the Indian Institutes of Management (IIM) - Kozhikode, Narayanan said the country has come a long way from when it launched its first satellite - Aryabhata -- on a Soviet rocket.
Now India has 131 satellites in orbit, has launched 433 satellites for 34 countries and successfully completed its 100th launch on January 29 this year, he said.
Besides that, India was the first country to discover water molecules on the Moon through its Chandrayaan-1 mission and the first to land on its south pole through the Chandrayaan-3 mission, placing it among the leaders in the space sector, the chairman of the Indian Space Research Organisation (ISRO) said.
"India i

Speaking at 27th convocation of IIM - Kozhikode, Narayanan said the country has come a long way from when it launched its first satellite - Aryabhata -- on a Soviet rocket

In a significant step towards fostering international collaboration in science, technology, and innovation, the Karnataka government on Saturday announced that it has signed a Letter of Intent (LoI) with the Government of Chile during the Innovation Summit held in Bengaluru.
The summit was organised as part of the official visit of H E Gabriel Boric, President of Chile, and his accompanying high-level delegation to India.
According to an official statement, the LoI aims to establish a framework for mutual cooperation between Karnataka and Chile in key areas, including emerging technologies, startups, research and development, knowledge exchange, and skill development.
The agreement reflects a shared commitment to deepen innovation-driven engagement and create pathways for collaborative growth between the two regions.
Notably, Chile becomes the first Latin American country to partner with Karnataka under the Global Innovation Alliance (GIA) - a flagship initiative through which the 

LoI aims to establish a framework for mutual cooperation between Karnataka and Chile in key areas, including emerging technologies, startups, research and development

Union Home Minister Amit Shah will be on a three-day visit to Jammu and Kashmir from Sunday, during which he will tour a forward post along the India-Pakistan border and review the security situation and development initiatives in the Union Territory.
Officials said Shah will reach Jammu on Sunday evening and attend a meeting of BJP MLAs and office bearers.
The next day, he will visit the BSF Border Out Post Vinay in Kathua and assess the ground situation there.
Later in the day, he will meet the family members of the martyrs of the Jammu and Kashmir Police at Raj Bhavan in Jammu and also present appointment letters to some of them selected on compassionate grounds.
On April 8, Shah will first take stock of various development programmes in the Union Territory at a meeting to be held at Raj Bhavan in Srinagar.
Subsequently, he will attend another meeting at the Raj Bhavan in Srinagar where the security situation in Jammu and Kashmir will be reviewed, officials said.
On March 21, 

Shah will meet the family members of the martyrs of the Jammu and Kashmir Police at Raj Bhavan in Jammu and also present appointment letters to some of them

Haryana Chief Minister Nayab Singh Saini on Saturday said the state government has decided to develop a film city at Pinjore in Panchkula district to support artists and  promote the film industry.
The film city will be established over 100 acres of land.
The chief minister said the land has already been identified and the process of appointing a consultant for the project is underway.
The work of film city is expected to commence soon, he added.
Saini said another film city will be developed in Gurugram, adding the land selection process for this phase is currently in progress.
These initiatives will not only benefit professionals associated with the film industry but will also create new employment opportunities in the state, he said.
The chief minister was addressing the closing ceremony of a two-day film festival held at Maharishi Dayanand University.
He assured the artists associated with the film industry that efforts would be made to telecast one Haryanvi film every week 

Saini said another film city will be developed in Gurugram, adding the land selection process for this phase is currently in progress

The Mumbai Metropolitan Region Development Authority (MMRDA) on Friday presented a Rs 40,187 crore-budget for the megapolis.
Infrastructure spends across projects have been pegged at Rs 35,151 crore or 87 per cent of the overall expenditure, as per an official statement. The revenues have been estimated at Rs 36,939 crore, and the body chaired by Deputy Chief Minister Eknath Shinde will be borrowing Rs 22,000 crore.
This will result in a budget deficit of Rs 3,249 crore, which the body plans to bridge through land sales, issuance of bonds, financial assistance from the government, and loans from financial institutions, the statement said.
The ongoing metro line projects have been earmarked Rs 10,969 crore of expenditure in the new fiscal, which is a fourth of the overall expenditure..
Over Rs 5,697 crore have been allotted for multiple tunnel projects which are going across the megapolis, with Rs 2,684 crore earmarked for the four-lane road running under the Sanjay Gandhi National 

Infrastructure spends across projects have been pegged at Rs 35,151 crore or 87 per cent of the overall expenditure, as per an official statement

The Rajya Sabha on Thursday returned the Finance Bill 2025 to the Lok Sabha, along with 35 government amendments, including one that abolishes a 6 per cent digital tax on online advertisements, thus completing the 2025-26 budgetary exercise that started on February 1.
The House also returned the Appropriation Bill (3) with a voice vote.
Earlier in the day, Finance Minister Nirmala Sitharaman had moved the two bills in the House.
The Lok Sabha had passed the Finance Bill on March 25 and passed the Appropriation Bill on March 21.
Replying to the debate later in the evening, she said the tendency of the finance ministry would be to exercise caution and not let go of revenues.
"But, here we wanted to use this opportunity to show our respect for Indian taxpayer. We have moved towards setting Rs 12 lakh as threshold up to which no one will have to pay any tax," Sitharaman said.
The Union Budget 2025-26 envisages a total expenditure of Rs 50.65 lakh crore, an increase of 7.4 per cent ov

The Union Budget 2025-26 envisages a total expenditure of Rs 50.65 trillion, an increase of 7.4 per cent over the current fiscal

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RIL’s massive layoff drive; 11% jobs cut

In a significant development, India’s largest conglomerate undertook a massive layoff drive reducing its workforce by 11% in the fiscal year 2023-24. Watch the video to know the details.

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