‘Need for decentralisation’: Number of poor rising as wealth concentrates within some hands; ‘should not happen,’ says Gadkari

Union Minister Nitin Gadkari voiced concerns about India’s widening wealth gap, emphasizing the need for inclusive economic growth and wealth decentralization at a Nagpur event. He lauded past economic reforms but cautioned against unchecked centralization. Gadkari highlighted sectoral imbalances, particularly agriculture’s low GDP contribution despite employing a large rural population.

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Sebi warning: After action against Jane Street, chairman says ‘market manipulation won’t be tolerated’

Sebi is tightening its grip on market manipulation, as Chairman Tuhin Kanta Pandey warns against any misconduct. This follows an interim order against Jane Street Group, accused of manipulating stock indices and ordered to return ₹4,843 crore. Pandey also emphasized transparency and ethics in corporate governance, urging chartered accountants to ensure genuine compliance.

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World Bank: India ranks 4th in income equality, ahead of US and China; 171 million lifted out of extreme poverty

India is now a leading nation in income equality. World Bank data shows India’s Gini Index is better than many major economies. Poverty rates have significantly decreased between 2011 and 2023. Government initiatives like PM Jan Dhan Yojana and Aadhaar have boosted financial inclusion. Healthcare access improved through Ayushman Bharat.

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Spot the fake ones out: Labubu or Lafufu? Fans struggle to identify originals

The Labubu doll craze is plagued by convincing counterfeits called “Lafufus,” fooling collectors despite Pop Mart’s authentication efforts. These fakes, costing significantly less, are widespread, with some marketplaces even unknowingly selling them as originals. Consumer groups warn of the deception, urging buyers to be vigilant and purchase only from trusted retailers to avoid heartbreak and…

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Explained: How Jane Street made a staggering Rs 735 crore profit in Indian markets in just a day? SEBI reveals details of ‘manipulation’ strategy

SEBI has banned Jane Street Group from Indian markets. The firm allegedly inflated prices before selling aggressively, profiting from options while retail investors were misled. SEBI is now seizing Rs 4,840 crore in unlawful gains, highlighting concerns about algorithmic trading’s impact on the Indian derivatives market.

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