Business News: FSSAI, Policybazaar, FM Sitharaman, Sebi, Sales Job Trends & BJP on Rahul Gandhi

The Food Safety and Standards Authority of India has approved changes in the nutritional labeling of packaged foods, mandatorily having total content of salt, sugar, and saturated fat in bold and larger fonts. This was done with a view to empowering the consumer through front-of-pack nutrition labeling to enable them to make healthier choices in order to address the issue of Non-Communicable Diseases. A draft notification will be issued seeking comments from the public on these amendments, pointing out the initiatives being taken to ensure food safety and quality all over the country.

High net worth individuals are fast opting for high-value term insurance policies, wherein policies of Rs 20 crore have registered a big jump, claims Policybazaar. This trend, particularly strong in metro regions such as NCR, Pune, and Hyderabad, cements the progress toward better risk management and financial planning. Popularity of more Rs 5 crore policies is also gaining fast to a new norm. More people are also taking riders to customize their coverage and buying cost-effective special exit benefit plans. The increase in female buyers reinforces this distinction—more awareness and demand for whole financial protection.

The Budget for 2024-25 will be presented in the Lok Sabha on July 23, 2024. In a statement issued before, it has been said that the Budget Session is to be held from July 22 to August 12. Union Parliamentary Affairs Minister Kiren Rijiju announced the date of the session and clarified, "Parliament's Budget session is scheduled to begin on July 22 and end on August 12." The entire budget speech is to be done by Finance Minister Nirmala Sitharaman, which embodies giant social and economic decisions. This will be the first budget for Prime Minister Narendra Modi in his third term. This comes a day after President Droupadi Murmu said that the budget would be historic.

US short-seller Hindenburg Research shared its report critical of Adani Group before making it public with hedge fund manager Mark Kingdon and profited from market movements. The SEBI's 46-page notice gave details of the collusion among Hindenburg, Kingdon, and Kotak Mahindra Bank in this regard. SEBI charged Hindenburg with unfair profits from spreading misleading information and panic selling. Hindenburg tried to justify its act as one of exposing corruption. The notice also brought in Kotak Mahindra Investments Ltd., saying that it made huge profits from short-selling Adani stocks in the run-up to the release of the report. Hindenburg has 21 days to respond to the allegations.

According to an upGrad Enterprise report, about 61% of sales professionals are looking to switch jobs in the next 3-24 months. Higher rates were observed within the auto and retail sectors. Fueled by insights from over 3,900 sales professionals, the study called out high levels of stress. A condition that commanded more attention to senior roles, particularly in the auto, pharma, and consumer durables sectors. The major findings are: 93% of the respondents stated that they feel a lack of support from supervisors. Moreover, 80% lacked the skills required for the emerging market. Additionally, 92% of them wanted structured and long-term training programs. Additionally, on the grounds of continuous learning, professional development, and attachment for adequate support to prevent burnout and attrition.

The BJP reacted to Rahul Gandhi's statement that the INDIA bloc defeated the Ram temple movement with its victory in Wednesday's Faizabad, Ayodhya. BJP IT chief Amit Malviya attacked Gandhi, accusing him of hating Hindus. It was claimed by Rahul Gandhi that the victory of the alliance in Faizabad can be termed as a forerunner of the same results as in the future elections, including Gujarat. He added an attack on his leadership and vision, saying that in Gujarat itself the Congress is going to thrash the BJP. Taking a cue from Ayodhya, Gandhi claimed people there were angry with Modi over compensatory issues.