The number of tax refunds has recorded a 46.31 per cent jump to Rs 3.08 lakh crore between April 1 and November 27 this year compared to the same period of 2023, marking a significant increase in the efficiency of the Income Tax Department, according to figures released by the Union Finance Ministry on Thursday.

In the corresponding period last year between April 1, 2023, and November 30, 2023, refunds totalling Rs 2.03 lakh crore were issued, reflecting the Ministry's concerted efforts to expedite the process this year. The Central Board of Direct Taxes (CBDT) played a crucial role in achieving this milestone, the statement added.

In its year-end review, the Finance Ministry also said that within just a week of processing, an impressive 26.35 per cent of IITRs for FY 2024-25 were cleared -- a significant improvement compared to the 22.56 per cent achieved during FY 2023-24.

South Korean auto giant Hyundai Motor Group said on Thursday it will join hands with Google to strengthen its automotive software system and deliver next-generation navigation and infotainment experiences for drivers.

Under the partnership, Hyundai Motor will adopt Google's Android Automotive Operating System (AAOS) and use Google Maps' geolocation information service, called the Places API, to upgrade its navigation capabilities, according to company officials.

Rather than directly applying the Google Maps service in its cars, Hyundai Motor plans to utilise the information provided by the service on some 250 million places across the globe, such as business operating hours, contact info and reviews, to increase the accuracy of its navigation service, the officials explained, reports news agency.

Apple on Wednesday announced the release of iOS 18.2, iPadOS 18.2, and macOS Sequoia 15.2, with a new set of Apple Intelligence features that will elevate users’ experience with iPhone, iPad, and Mac.

Now, users can explore creative new ways to express themselves visually with Image Playground, create the perfect emoji for any situation with Genmoji, and make their writing even more dynamic with new enhancements to Writing Tools, the company said in a statement.

Building on Apple Intelligence, users with an iPhone 16 or iPhone 16 Pro can instantly learn more about their surroundings with visual intelligence with Camera Control.

The government is committed to advancing digital radio technology and its integration into the media ecosystem in the country, Sanjay Jaju, Secretary, Ministry of Information and Broadcasting (MIB), said on Wednesday, as the digital FM radio broadcast in 13 metros and major cities are set to be rolled out in the coming months.

Addressing an industry conference in the national capital, Jaju said we stand at the threshold of a new era brimming with possibilities and opportunities in broadcasting.

“Light-touch regulations will enable innovative content creation and deeper listener engagement, empowering India’s creators. Radio derives its strength from localised content choice embracing diverse community interests and cultural preferences,” he told the gathering.

The production-linked incentive (PLI) scheme for telecom and networking products has witnessed Rs 3,998 crore worth actual investment (against Rs 4,014 crore as committed investment) by micro, small and medium enterprises (MSMEs) and non-MSMEs, the Parliament was informed on Wednesday.

Minister of State for Communications and Rural Development, Dr Chandra Sekhar Pemmasani, said in a written reply to a question in Lok Sabha that total 42 beneficiaries have been approved under the PLI scheme for telecom and networking products (till October 31).

In order to promote manufacturing of telecom products and reduce import dependency, the Department of Telecommunications (DoT) notified the PLI for telecom and networking products in 2021 with a total financial outlay of Rs 12,195 crore.

Indian pharmaceutical companies, which benefited from sector tailwinds such as stable generic pricing and shortage-led opportunities and stable costs of raw materials in the past 18-24 months, will make further progress in differentiated and complex generics in the US market in 2025, a report showed on Wednesday.

According to a note by HSBC Global Research, these tailwinds are projected to continue in 2025 as well given that “we don’t see major changes on the demand-supply dynamics.”

At least nine in 10 Indian businesses now affirm that embracing cloud transformation is a critical enabler of AI adoption, according to a report on Wednesday.

Notably, 67 per cent of Indian companies are currently transitioning applications to the cloud, reinforcing the nation’s commitment to innovation and efficiency, according to an EY India report.

Most Indian companies are adopting a hybrid approach, with 80 per cent managing enterprise applications partly on the cloud and partly on-premises.

This balanced strategy allows for flexibility while enabling gradual progress toward full cloud migration.

India has the potential to create more than 30 million new women-owned enterprises, according to a report.

The report -- on democratisation of entrepreneurship in India -- by consulting firm KPMG stated that this can translate to 150 to 170 million more jobs in the country.

Investing in women-led ventures can have a multiplier effect, as they are more likely to reinvest in their communities, the report said.

Further, boosting venture capital (VC) funding in women-led startups in India can enhance gender equity. It will also enable women founders to scale their businesses, create jobs, and contribute to the economy on a larger scale.

There is a potential $40 billion investment opportunity for the development of electric vehicles (EVs) and ancillary industries in India over the next 5-6 years, a report showed on Wednesday.

About two-thirds of the planned investments can potentially materialise in the lithium-ion battery segment alone, said the report by Colliers, a professional services and investment management company.

The deployment of these funds will rely upon successful implementation of government policies, charging infrastructure ramp-up and domestic manufacturing capacity scale-up, it added.

At the same time, with an uptick in EV adoption, increasing need for charging infrastructure would potentially translate into real estate demand for more than 45 million square feet by 2030.

The Indian capital market is projected to see 17-45 per cent compound annual growth rate (CAGR)-sustained revenue growth over FY24-27, a Motilal Oswal Financial Services Ltd (MOFSL) report said on Tuesday.

The entire ecosystem of capital market – asset management companies (AMCs), brokers, exchanges, intermediaries and wealth managers – will see sustained growth in revenue during the period

Fixed cost nature will drive operating leverage for all segments, resulting in superior profit growth, said the report, adding that high cash generation, healthy dividend payouts, and superior return on equities (RoEs) bolster MOFSL’s view in the entire capital market space.