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India Gazette
2 days ago
- Business
- India Gazette
Gujarat: CM Patel inaugurates new development center of Infosys at GIFT city
Gandhinagar (Gujarat) [India], June 7 (ANI): Gujarat Chief Minister Bhupendra Patel, while inaugurating the new Development Center of Infosys at GIFT City, reaffirmed the State Government's commitment to advancing the AI industry by implementing artificial intelligence-based systems across the state. He stated that the establishment of an AI Centre of Excellence at GIFT City is aimed at creating a unified platform that brings together solution developers, experts, professionals, and startups under one roof. According to the release, the newly operational Development Center of Infosys at GIFT City will focus on delivering advanced financial technology solutions under the FinTech framework. Additionally, it will place a strong emphasis on global services and innovation. In addition, the centre will provide advanced analytics, machine learning, and AI-driven insights specifically tailored for financial institutions. It will also focus on delivering secure and transparent solutions for digital payments, smart contracts, and asset tokenization. Established with an investment of Rs32 crore, the Infosys Development Center is expected to create employment opportunities for over 1,000 professionals, further mentioned in the release. Expressing his gratitude to Infosys for establishing this Development Center in Gujarat, Chief Minister Bhupendra Patel stated that GIFT City--envisioned under the visionary leadership of Prime Minister Narendra Modi--has emerged as the nation's hub for technology and fintech, hosting several leading global IT, fintech, and new-age technology firms. He further added that the definition of technology has transformed over the past decade as a result of the Digital India Mission launched by Prime Minister Narendra Modi. Under the Prime Minister's leadership, several policies and missions have been initiated over the past 11 years to give focused impetus to IT-enabled industries, semiconductors, and the electronics sector. The Chief Minister stated that Gujarat is fully prepared to lead in positioning India as a soft power leader and a knowledge-based economy. He also recalled the significant role played by Infosys founder Narayana Murthy in establishing 'iCreate,' an institution dedicated to guiding youth in the field of innovation in the state. On the occasion, Infosys CFO Jayesh Sanghrajka highlighted the company's growth journey, noting that Infosys, a global leader in consulting and IT services, was founded in 1981. With over four decades of experience in managing systems and processes for global enterprises, Infosys today supports clients in 56 countries and has a strong workforce of over 320,000 employees worldwide. He further mentioned that in 2024, Infosys was recognized as one of the best employers in India and, for the fourth consecutive year, ranked among the top 50 large companies in the country for women to work. On this occasion, Principal Secretary of the Department of Science and Technology, Mona Khandhar, IFSCA Chairperson K. Rajaraman, Infosys Senior Vice Presidents Rajneesh Malviya and Niladri Prasad Mishra, and Director of ICT & e-Governance, Government of Gujarat, Kavita Shah, along with other dignitaries. (ANI)
India Gazette
22-05-2025
- Business
- India Gazette
AP: Jagan accuses CM Naidu of financial mismanagement, targets 'yellow media' for bias
Vijayawada (Andhra Pradesh) [India], May 22 (ANI): Former Andhra Pradesh Chief Minister and YSRCP president YS Jagan Mohan Reddy on Thursday launched a scathing attack on the current TDP-led government in the State, accusing Chief Minister Chandrababu Naidu of failing to deliver on pre-election promises and engaging in financial mismanagement. The former chief minister also took aim at what he called the 'yellow media' for biased reporting in favour of the ruling party. 'I am not only fighting against Chandrababu Naidu but also against the 'yellow media',' Reddy said in a press conference. 'Before the elections, Naidu promised development, welfare, and income generation. He even claimed that Andhra Pradesh was turned into Sri Lanka during my regime. But now, let us examine what he has actually done in the last 11 months. He did not implement welfare schemes to the beneficiaries,' he added. He claimed that his government successfully managed the state even during the unexpected COVID-19 pandemic. 'Despite the crisis, both investments and GDP increased during that time and throughout our (YSRCP) tenure,' the YSRCP chief said. He said that in just 11 months, the state's revenue saw a growth rate of 3.08%. This is an important figure the public should be aware of, he said. 'The gross tax and non-tax revenues of the central government in FY 2024-25 (up to February 2025) amounted to Rs36,97,545 crore. In FY 2023-24 (up to February 2024), it was Rs32,50,181 crore. This reflects a total growth rate of 13.76% at the central level,' he said. Reddy said that under the coalition government led by Chief Minister Chandrababu Naidu, additional borrowings of Rs30,100 crore were made. 'Capital expenditure declined by 17.80%, and most of the budgetary expenditure is being funnelled into the pockets of CM Chandrababu Naidu's associates,' he said. 'During the YSRCP government, even when accounting for all forms of liabilities, the total increase amounted to Rs3,32,671 crore over five years. In comparison, the liabilities in just the first year of the TDP government have risen by Rs1,37,546 crore, which is 41% of the total borrowings made during the entire five-year YSRCP term,' he added. He said that borrowings secured specifically for Amaravati amount to Rs3,10,000 crore. 'Chandrababu Naidu has been involved in a financial deal amounting to Rs11,000 crore with Access Energy India Pvt. Ltd. This agreement is for 400 megawatts of power at an annual cost of Rs210 crore, with a tariff of Rs4.60 per kWh,' he alleged. The YSRCP chief said that on 31st July 2024, SECI (Solar Energy Corporation of India) invited tenders for the procurement of power with an assured four-hour daily supply during peak hours. The tariff discovered and the Power Purchase Agreement (PPA) executed were at Rs3.53 per kWh. 'During our (YSRCP) regime, the Andhra Pradesh Government executed a Power Supply Agreement (PSA) with SECI for power supply at Rs2.49 per kWh, with a complete ISTS (Inter-State Transmission System) waiver,' he said. (ANI)
Business Recorder
18-05-2025
- Business
- Business Recorder
Four uplift schemes of health, P&D sector approved
LAHORE: The PDWP approves four development schemes of health and P&D sector worth over Rs32 billion. In this regard a meeting of the fiscal year 2024–25, the Provincial Development Working Party (PDWP) held here on Saturday in which four development schemes totalling Rs32,002.252 million were approved. The approved schemes are programme for revamping of 581 BHUs in South Punjab (Phase-I) at an estimated cost of Rs9,932.946 million and programme for revamping of 220 RHCs (Phase-I) (Revised) at an estimated cost of Rs9,990.223 million were approved. Programme for revamping of 552 BHUs in North and Central Punjab (Phase-I) (Revised) at an estimated cost of Rs9,986.627 million and Transformation of Punjab Resource Management & Policy Unit (PRMPU) at an estimated cost of Rs2,092.456 million were also approved. The meeting was attended by Secretary P&D Board Dr Asif Tufail, Chief Economist Masood Anwar, members of the P&D Board, and other senior officers. Copyright Business Recorder, 2025
Time of India
11-05-2025
- Time of India
Accident Victims Awarded Rs2.43 Crore at Nagpur Lok Adalat
Nagpur: The Motor Accident Claims Tribunal (MACT) in Nagpur resolved 43 pending cases during the National Lok Adalat, awarding Rs2.43 crore in compensation to victims and their families. The event, organised by the District Legal Services Authority (DLSA) under Principal District and Sessions Judge DP Surana's guidance, provided relief to families awaiting notable case involved Dinesh Purushottam Ladi, who died in a container-truck collision at Somalwada Chowk in July 2024. His family received Rs32 lakh in compensation from Oriental Insurance Company through structured dialogue led by panel head DK and DLSA secretary Sachin Patil confirmed that all MACT cases were resolved amicably with insurer and claimant participation. He noted that speedy settlements through dialogue help avoid the emotional and financial toll of prolonged tribunal also addressed claims involving serious injuries, with victims or their heirs receiving adequate compensation based on established legal formulas accepted by both sides. The MACT resolutions were part of the broader Lok Adalat effort, which settled over 84,000 cases district-wide, including civil, criminal, family, labour, and property praised the judicial officers, insurers, and legal volunteers for their roles in ensuring fair outcomes, calling the compensation drive a model of effective legal delivery. Get the latest lifestyle updates on Times of India, along with Mother's Day wishes , messages , and quotes !
Time of India
22-04-2025
- Business
- Time of India
End of road for minibuses bought from other states?
Coimbatore: More than 800 minibus owners across Tamil Nadu will be unable to operate their vehicles from May 1. This is not because they haven't obtained permits for new routes. But because of the issues related to reregistration. The New Comprehensive Plan for the Minibus Scheme, 2024, introduced by chief minister M K Stalin, aims at improving the access to bus services in urban and rural areas, thereby ensuring last mile connectivity. Under the revised scheme, minibuses are allowed to operate up to 25km, with at least 65% of the route covering the areas unserved by Tamil Nadu State Transport Corporation (TNSTC) buses or private buses. The remaining 35% of the route could be through the areas with bus connectivity. Earlier, the maximum allowed route length was 20km, with 16km through unserved areas and the remaining 4km through the areas with bus connectivity. As part of the new scheme, around 1,500 new minibus route permits have been issued across the state. However, K Kodiyarasan, president, Tamil Nadu Minibus Owners' Federation, said the Regional Transport Offices (RTOs) were not processing reregistration and seating alteration applications for minibuses purchased from other states, while those were issued new route permits. "More than 800 minibuses are yet to be reregistered because of this issue," he said. "This is not a new procedure. RTOs have done it in the past. They have the authority to reduce up to two seats for reregistration. But now, they are not processing these applications, and we don't know the exact reason. Without reregistration, we won't be able to operate these vehicles from May 1," he said. A minibus owner from Coimbatore pointed out that only brand-new buses have a maximum seating capacity of 25, excluding the driver and conductor seats. "Such vehicles cost approximately Rs32 lakh, making them unaffordable for many small operators. To reduce costs, many owners have bought second-hand buses with 28 or 29 seats from Kerala and Karnataka. These need to be modified into 27 seaters to meet the norms." Pointing out that the govt introduced this scheme to improve last mile connectivity, another Coimbatore-based minibus operator said the state should hence facilitate the reregistration process for vehicles procured from other states. "Earlier, such reregistrations were allowed. Around 50 vehicles in Coimbatore alone are affected. Even new entrepreneurs who invested in this sector are now unable to operate their buses." He said the new bus body code, AIS 052, was introduced only in 2017. "Therefore, the govt should allow reregistration of buses that were built before 2017." When contacted, a transport department official said, "If the minibuses bought from other states meet the norms, they could be registered. But many buses brought in exceed the permitted seating capacity. Additionally, they must comply with the Automotive Industry Standard (AIS) 052 for bus body design. We are still awaiting clear instructions from the govt regarding the reregistration of these vehicles."
