Biz Updates: At least one female director in more than 73000 startups; EPFO added 13.41 lakh members in October

New Delhi| The number of startups recognized by the Department for Promotion of Industry and Internal Trade in the country has increased to more than 1.57 lakh.  These have been recognized under the Startup India initiative. According to the Ministry of Commerce and Industry, more than 73,000 of these startups have at least one woman director.

The Employees’ Provident Fund Organization (EPFO) has added a record 13.41 lakh new members in October, 2024, net. Of these, 58.49 per cent are accounted for by 18 – to 25-year-olds. 2.09 lakh members are women. According to the data, around 12.90 lakh members exited in October and later rejoined EPFO. This is a 16.23 percent increase on an annual basis compared to October, 2023.

Duty free importation of peli peas extended
The central government has extended the period of duty import without yellow peas till February, 2025. The current period is 31 December. India is the world’s largest importer of yellow peas. Two million tones of yellow peas were imported in FY2024.

The matter was settled with SEBI by filling 28.5 lakhs
Three people and companies have settled the matter with SEBI for violation of rules of Alternate Investment Fund by paying Rs 28.5 lakh. These include P Rama Krishna, Uttishtha Virat Fund and Uttishtha Management. SEBI had issued a show cause notice in October.

The government will bring the fiscal deficit to 4.5%
The Government will continue to focus on improving quality spending, strengthening social protection mechanisms and bringing the fiscal deficit to 4.5 per cent of GDP in 2025-26. This information was given in a document of the Finance Ministry. The Finance Minister will present the budget for 2025-26 on February 1.

The economy will grow by 6.5 percent in the current and next financial year
The domestic economy is likely to grow at 6.5 per cent in the current and next financial years. The growth rate in the September quarter has been 5.4 per cent below estimates. Ernst & Young (EY) said in a report that the demand for private investment has not increased. The growth of government investment has also been negative. It has declined by 15.4 per cent in the first half of the current financial year. Its effect will also be visible on the growth rate.