Stock markets rally in early trade; Sensex climbs over 300 points
Mumbai (PTI): Benchmark equity indices Sensex and Nifty rallied in early trade on Friday, buoyed by GST rate cuts announcement and a positive trend in global markets.
The 30-share BSE Sensex climbed 318.55 points to 81,036.56 in early trade. The 50-share NSE Nifty rallied 98.05 points to 24,832.35.
From the Sensex firms, Mahindra & Mahindra, Trent, Tata Motors, Asian Paints, Power Grid, and Reliance Industries were among the gainers.
ITC, Hindustan Unilever, NTPC, and Sun Pharma were among the laggards.
Common use items from roti/paratha to hair oil, ice creams and TVs will cost less, while tax incidence on personal health and life insurance will be brought down to nil after the all-powerful GST Council on Wednesday approved a complete overhaul of the tangled Goods and Services Tax (GST) regime.
The GST Council approved limiting slabs to 5 per cent and 18 per cent, effective from September 22, the first day of Navaratri.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng traded in positive territory.
US markets ended higher on Thursday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 106.34 crore on Thursday, while Domestic Institutional Investors (DII) bought stocks worth Rs 2,233.09 crore, according to exchange data.
Global oil benchmark Brent crude dipped 0.18 per cent to USD 66.87 a barrel.
On Thursday, the Sensex settled 150.30 points or 0.19 per cent higher at 80,718.01, and the Nifty ended marginally higher by 19.25 points or 0.08 per cent at 24,734.30.
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Bill to regulate deepfakes tabled in Lok Sabha
New Delhi (PTI): A Private Member's Bill seeking a clear legal framework for regulation of deepfakes has been introduced in the Lok Sabha.
The Regulation of Deepfake Bill, introduced by Shiv Sena leader Shrikant Shinde in the House on Friday, aims to protect citizens by mandating prior consent from individuals depicted in deepfake content.
"Misuse of deepfakes for harassment, deception and misinformation has escalated, creating an urgent need for regulatory safeguards," Shinde said.
The Bill also lists penalties for offenders creating or disseminating deepfake content with malicious intent.
"With advancements in artificial intelligence and deep learning, deepfake technology has emerged as a significant tool for media manipulation. While the technology has potential applications in education, entertainment and creative fields, it also poses severe risks when misused, threatening individual privacy, national security and public trust," Shinde said in the statement of objects and reasons in the Bill.
The proposed Bill seeks to establish a clear legal framework to govern the creation, distribution and application of deepfakes in India, said Shinde, a three-term Lok Sabha member from Kalyan.
The Bill also seeks to establish the Deepfake Task Force, a dedicated body to combat national security implications and evaluate the influence of deepfakes on privacy, civic participation, and potential election interference.
The task force will collaborate with academic and private sector institutions to develop technologies that detect manipulated content, thereby promoting credibility in digital media.
The Bill also proposes to establish a fund to support public and private sector initiatives in the detection and deterrence of advanced image manipulation.
A Private Member's Bill is a procedure of Parliament that enables lawmakers, who are not ministers, to draw attention to issues that might not be represented in Government Bills or to highlight the issues and gaps in the existing legal framework that require legislative intervention.
