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J-K gets Rs 35581 crore in Union Budget

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Rs 33923 crore to meet resources gap; Rs 273 crore for Dal—Nageen lake; Rs 500 crore support for capital expenditure

(Asian News Hub) – The Government of India has allocated Rs 35581 crore for Jammu & Kashmir in the Union budget presented by Finance Minister Nirmala Sitharaman in the Parliament on Monday.

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According to news agency—Kashmir News Observer (KNO), Rs 35581 has been allocated to Jammu & Kashmir for the next fiscal in the Union Budget.

Also Read: RBI to issue digital rupee this FY: Nirmala Sitharaman

Of which, Rs 33923 crore has been allocated to meet revenue deficit gap/ resource gap of UT, Rs 279 crore grants as UT disaster response fund, Rs 273 crore as rehabilitation for Dal—Nageen lake, Rs 130 crore, Rs 476.44 crore grant towards equity contribution for 624 MW Kiru and Rs 500 crore support for capital expenditure.

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Brazil to legalize crypto as a payment method

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Brazilian lawmakers have backed a complete regulatory framework for the trading and use of cryptocurrencies in the country.

Also Read: Students RAPE classmate inside classroom

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The Chamber of Deputies of Brazil, a federal legislative body, has approved a regulatory framework that legalizes the use of cryptocurrencies as a payment method, but the passing of the bill does not make any cryptocurrencies legal tender within the country.

While this makes significant progress for crypto within Brazil, the law still requires the signature of the president of Brazil for it to be enacted.

Also Read: KNO Exclusive — Depression, anxiety on rise among youth, children in Kashmir

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In addition to allowing crypto as a payment method, the law enables the creation of licenses for crypto exchange platforms and for custody and management of crypto by third parties.

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Bitcoin back above $20,000 mark

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Srinagar, Sept 09: Bitcoin surged past the USD 20,000 barrier and was eyeing its best day in six weeks on Friday as the US dollar fell broadly and markets found reasons to be cheerful at the end of a dour week, Reuters reported.

Also Read: Prophet row: SC rejects plea seeking arrest of suspended BJP spokesperson Nupur Sharma

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Bitcoin, the biggest cryptocurrency by market value, rose more than 7 per cent to USD 20,796, a two-week high. Ether, the second-biggest, rose 5 per cent to also hit a two-week peak at USD 1,717. Bitcoin had been as low as USD 18,540 on Wednesday.

Market participants said there was no particular trigger for the gains beyond a broad upbeat mood in evidence across asset classes on Friday, led by a drop in the safe-haven dollar and a rally in Chinese stocks.

If the cryptocurrencies can hold their gains until Sunday’s close, Bitcoin could log a second weekly rise in a row, and its best week in about a month. read more

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Ether’s weekend volatility may be heightened by a looming software upgrade known as the “merge”, due sometime between Sept. 10 and 20, with the exact timing uncertain.

The shift will radically change how transactions are processed and is supposed to slash energy consumption. Some exchanges plan to pause deposits and withdrawals while the upgrade occurs.

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Veteran stock investor Rakesh Jhunjhunwala passes away

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Mumbai, Aug 14: Seasoned stock market investor Rakesh Jhunjhunwala passed away at the age of 62 in Mumbai, according to several media reports.

Also Read: Salman Rushdie taken off ventilator

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Jhunjhunwala, over the years, has invested in many well-known and established companies, and also upcoming startups. His investment in the Tata owned, Titan Industries was seen as a master stroke.

He recently promotd, Akasa Air, which was backed by Rakesh Jhunjhunwala, was inaugurated on August 7.

According to New 18 reports, Jhunjhunwala was brought to the Candy Breach Hospital at 6:45 AM in the morning and was declared dead.

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Also Read: Cop injured in Kulgam grenade attack, succumbs

As of August, 2022, his net worth was $5.8 billion. He invested via his firm Rare Enterprises. He is often referred to as India’s Warren Buffett.

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