Daily Digest Section B Compiled.pdf

mint news 1. ECONOMY AND POLICY Realities That Get Faded By out By The Glow of Statistics. According to this headline the story behind this headline is that a person named Kaushalendra Yadav worked as a Guard of a society. He was from Uttar Pradesh and Bihar. Kouchalendra...

mint news 1. ECONOMY AND POLICY Realities That Get Faded By out By The Glow of Statistics. According to this headline the story behind this headline is that a person named Kaushalendra Yadav worked as a Guard of a society. He was from Uttar Pradesh and Bihar. Kouchalendra was born into a Caste that is politically dominant in UP. and Bihar. Kaushalendra died due to his illness but- the main the reason is not getting good treatment because of not having - enough money to be treated - in a good manner. According to Niti Ayog report, 242. 8 Million - Indians have escaped multidimensional poverty between 2014 and 2023. Multidimensional poverty has declined in states such as UP, Bihar and MP. Multidimensional poverty as for the official definition, is a condition where a person is deprived not just of income but also of access to land, housing, health care, clean drinking water, education and power among other things.  mint News ECONOMY AND POLICY INDIA EYES BHARAT FOODSS TO CUT INFLATION LThe Centre has spent nearly ₹2,000 crore on providing Bharat rice and wheat under the price stabilization fund (PSF) scheme to help tame food inflation. This initiative aims to support the lower-income population by providing essential grains at subsidised prices. NATIONAL TEST HOUSE TO BE APEX CERTIFICATION BODY FOR INDAIN PRODECTS New Delhi: The union government is working on making the National Test House (NTH), an industrial testing lab that reports to the consumer affairs ministry, the apex certification body for all Indian products, two people directly involved in the process said, after a string of export order rejections.  MINT NEWS ECONOMY AND POLICY THE NEWS firms in race to secure sites for pumped storage plants India's renewable energy companies are racing to secure locations for pumped storage hydropower (PSH) plants. These plants store energy by pumping water uphill during periods of low electricity demand and releasing it back downhill to generate electricity when demand is high. They are crucial for integrating renewable energy sources like solar and wind power into the grid, which can be inconsistent. There are limited suitable sites for PSH plants, as they require upper and lower reservoirs in close proximity with suitable elevation differences. JSW Energy, Adani Green, and Greenko are among the companies that have secured the WINDFALL TAX ON CURDS most sites so far, at 6GW, 5GW, and 7.6GW OIL PRODUCED IN INDIA respectively. HIKED The government has hiked windfall tax on domestically produced crude oil to ₹6,000 per tonne, from ₹3,250 per tonne, with effect from Tuesday. The tax is levied in the form of Special Additional Excise Duty (SAED). The SAED on the export of diesel, petrol and jet fuel or ATF, has been retained at “nil”. The new rates are effective from 2 July, an official notification said.  ECONOMY AND POLICY JUNE SERVICES PMI RECOVERS AS DOMESTIC, FOREIGN ORDERS RISE - India's services sector growth recovered in June, driven by a surge in sales and new orders, both domestic and international. - The HSBC India Services Purchasing Managers' Index (PMI) rose to 60.5 in June, up from 60.2 in May, indicating the 35th consecutive month of growth in services activity. - Services firms increased their hiring at the fastest pace since August 2022, and job creation rose the most in 22 months - India's GDP is expected to grow at 7% in 2021-25, with the services sector growing at 8.2% in 2023-24, accounting for more than half of the country's GDP.  MINT News ECONOMY AND POLICY CONSUMPTION RECOVERED IN FY23, NEEDS A STIMULUS NOW 1. 10% expansion that sectors hit by COVID showed in FY23. GOVT. PLANS AWARENESS CAMPAIGN ON DIRECT - 2. Overall, household SELLING MALPRECTICES consumption expenditure, 1. On 10th may the department of consumer affairs after a 5.2% contraction in (DoCA) was planning to scrutinize direct - selling firm FY21, grew 11.7% FY22 and 6.8% regulatory compliance and prepare a list of rule FY23 but for FY24, the violators. ministry's projection is more moderate at 4% even as economic growth is projected The 2. consumer Protection Act 2019 safeguard at 8.2%. consumers against defective products, unsatisfactory services and unfair trade practices. 3. 4% moSPI's projection of consumption growth for FY24. 3. Manish K. Shubhay ( partner at the Precept Law Offices) said that the government is committed to if D.K. Srivastava said 4. acting against violators to safeguard the interests of real GDP growth is 7% and consumer PFCE growth is something below that level  mint news 2. GLOBAL NEWS The New Area of Clean Energy It is the era of importing power from faraway lands. Morocco imposed a project to build a nearly *2500*- mile subsea power line that would connect vast - wind and solar farms in Morocco to the UK. Simon - Morrish is an architect who planned the clean - energy - through power lines and said that it is the UK'S best option for clean electricity. Since coal and gas plants can sit near the areas they serve their transmission line generally don't need to travel long distance. But big empty sites which lost of wind and sunshine tend to lost be far from cites that need electricity.  mint News GEOPOLITICS AND GLOBAL AFFAIRS AMAZON, BUILT BY RETAIL, INVESTS IN ITS AI FUTURE Amazon, now the fifth-ever U.S. company to reach $2 trillion in market value, is planning to spend more than $100 billion over the next decade on data boeing agrees to buy spirit aero centers for AI computing. Amazon built a $2 trillion for over $4 billion in an all-stock company through years of deal, says report aggressive spending on its Boeing is buying back its former supplier, Spirit AeroSystems, retail and logistics businesses. for $4.7 billion in an all-stock deal. This move aims to address Its future gains will likely be Boeing's recent safety problems and production slowdowns, determined by the billions especially after a major door incident on a 737 MAX jet designated to fund its exposed quality issues. artificial-intelligence push. Key points: Acquisition helps Boeing regain control and Amazon is planning to spend more than $100 billion over the next potentially improve safety standards. decade on data centers, an Spirit will be divided, with some assets going to Airbus, impressive level of investment Boeing's European competitor. even for a company known for its The deal follows a year of struggles for Boeing, including spending Seattle company ways. is The now devoting the 737 MAX grounding after fatal crashes and production more investment money to its delays. cloud computing and AI This is an attempt by Boeing to rebuild its reputation and infrastructure than to its sprawling production capabilities. network of e- commerce Uncertainties: warehouses.  MINT NEWS GEOPOLITICS AND GLOBAL AFFAIRS WHAT NEXT FOR AMAZON AS IT TURNS 30 That gives it a 42% share of American e- commerce, far beyond the 6% captured by Walmart, its nearest online competitor Instead, Amazon's fourth decade looks poised to be an era of integration. The most important thread stitching Amazon's two main businesses together is generative AI. Amazon's nascent pharmacy business is using generaorton of Moftive Al to help fill prescriptions and manage stocks of medications. Indeed, the greatest risk to Ama- zon thriving as a 30-something is not antitrust cops or cross cloud customers. It is competition. Micro- soft is widely thought to have taken the lead on integrating generative Al into its assorted enterprise offer- ings, thanks to its partnership with OpenAI, the startup at the technol- ogy's bleeding edge (and maker of ChatGPT) CARBON CREDITS FACE FRESH BLOWBACK AS NGOS UNITE Carbon credits face fresh blowback as NGOs unite T he market for carbon credits is facing a renewed wave of opposition as climate activists deliver a fresh warning to companies and governments instruments. not to use ["Allowing such firms financial and countries to meet climate commitments with carbon credits is likely to slow down global emission reductions while failing to provide anything like the scale of funds "Offsetting, at best, does not reduce the con- centration of greenhouse gases in the atmosphere, it simply moves emission reductions from one place to another  MINT NEWS GEOPOLITICAL AND GLOBAL AFFAIRS WHAT HAPPENED TO THE ARTIFICIAL INTELLIGENCE REVOLUTION 1. In the world 's tech capital it is taken as read that AI will transform the global economy. 2. 75% of global "knowledge workers" use it. 3. The largest estimated INTERNET BROWSERS ARE potential change to baseline GETTING A MAKEOVER FOR earing from AI adoption via THE WORKPLACE increased productivity. More companies are rethinking the internet browser, the decades-old desktop application that carries an increasingly heavy enterprise workload. The path to becoming more enterprise-grade has been a focus of the browser industry for a few years now. Chrome Enterprise Core, which has been around since late 2020, is a cloud management service that sits on top of Google Chrome and provides security capabilities. A combination of factors, including remote work and the continued rise of cloud-based software-as-a- service applications have led to a reimagining of what the browser's role should be, according to shield. While adoption is low today, research firm Gartner estimates that by 2030, enterprise browsers will become the core platform for delivering work-force productivity and security software on devices.  MINT News 5 JULY 2024 GEOPOLITICAL AND GLOBAL AFFAIRS FEDERAL RESERVE OFFICIALS SIGNALED NO HURRY TO CUT RATES With elevated inflation preventing Federal Reserve officials from feeling confident some enough to cut interest rates, policymakers at their last month called for careful attention to signs the labor market might weaken faster than anticipated. CHINA REOPENED TO FOREIGN STUDENTS. A number of participants remarked that monetary policy should stand ready to AMERICANS ARE STAYING AWAY respond to unexpected economic weakness. Across China, American students have Before the pandemic, the number The minutes showed officials were broadly been slow to return since Beijing ended of U.S. students in China had already comfortable with their wait-and- see stance its strict Covid restrictions in late 2022. dropped by more than one-fifth since on changing interest rates and highlighted a the peak in 2012 , with many students range of views about what might prompt the That is despite pledges by both Beijing interested in China studies or Mandarin Fed to raise or lower rates. and Washington to rebuild exchanges going to Taiwan instead. The Fed raised rates at the fastest pace in 40 between ordinary Chinese and A recent IIE report found that less years in 2022 and 2023 to combat inflation Americans, including Chinese leader Xi than 30% of U.S. colleges and universities that also rose to a four - decade high. They Jinping expressing hope at a November they surveyed planned to send have held their benchmark rate in a range summit with President Biden of students to China last year. between 5.25% and 5.5% since last july. attracting 50,000 American students to As to whether the presence of Economic projections released last month China over the next five years. In the last American students in China will showed most Fed officials expect to cut full academic year before the pandemic, eventually return to normal, Mahboubi, over 11,000 Americans were studying in of the University of Pennsylvania, interest rates once or twice this year if China, making it the most popular non- says that the current moment is a inflation slows and growth is solid but European destination for U.S. students “delicate one” with voices in the U.S. abroad and the seventh overall, political environment that aren’t supportive according to data from the Institute of of American universities engaging with China. International Education. As of June 2023, “The overall political environment unspectacular. on whether officials Markets at their areJuly 31 meeting the IIE said, China wasn’t even among focused for this is still fraught,” Mahboubi might lay the groundwork for a rate cut at their the top 20.. said. subsequent gathering in September. MARK TO MARKET Heady cement deals hide frailties 1.UltraTech cement Ltd announced the acquisition of 23% stake in south based the India cements Ltd for Rs.1900cr 2. Southern region contribute the lowest capacity market share of 11%. 2  mint News MARK TO MARKET SHOULD SEBI’S CERTIFICATION EXAM BE YOUR FIRDT STEP INTO STOCK INVESTING Developed in collaboration with the National Institute of Securities Market (NISM), the apex body responsible for securities market certification, the programme is voluntary, and aims to empower individuals with essential knowledge about savings and investment This online exam will help enhance investors' under- standing of the investment process and associated risks in the securities market, thus promoting an efficient approach to investment aligned with the risk appetite of the investor To register, individuals must sign up on the NISM online certification system. NISM takes about three days to approve the registered profile, and will then allow you to enrol for the exam BUDGET: HOW TAX MENT HIKE ON F&O COULD IMPACT TRADERS? The finance ministry plans to impose higher taxes on futuresand options (F&O) transactions in the upcoming Union Budget, as per reports. Proposed changes include reclassifying these transactions as speculative income' from 'non- speculative business income and introducing TDS on them. What the Budget may propose: The ministry is reportedly considering the following (i) Applying a higher tax rate of 30% to such profits, replacing the current slab rate applicability (ii) Introducing a nominal TDS to better track these transactions (iii) The proposed reclassification of F&O income as specula- tive income will significantly impact traders MINT NEWS mark to market THE NEWS Zerodha may end zero- brokerage model for equity delivery Zerodha on Tuesday said that the discount broker may have to abandon its zero-brokerage model or raise fees for F&O (futures and options) trades, a day after Sebi issued a circular mandating uniform charges across all market infrastructure institutions, including stock exchanges TARRIF HIKES RING IN A POSITIVE TONE. India's telecom sector appears to have been energized amid expectations it's cash position would improved on the back of tarrif hikes and muted expenditure. Only 1.3% of the total spectrum on offer was sold, a result of a cautious strategy adopted by telecom companies as their investment in the 5G spectrum is yet to reap good rewards. 5G utilization is still very low The huge 5G investments done by Bharti Airtel Ltd. and Reliance Jio face challenges with regard to monetization due to lack of use.  MINT NEWS MARK TO MARKET SOUTH KOREA HIKES GROWTH FORECAST AS AI DEMAND BOOMS South Korea revised its economic growth forecast sharply higher as booming global demand its for artificial intelligence drives semiconductor exports to record levels. The government sees gross domestic product expanding 2.6% this year, an upward revision from its previous forecast of 2.2%, according to a statement Wednesday from the finance ministry. The inflation forecast has been kept unchanged at 2.6%, matching an estimate by the Bank of Korea. The 0.1 percentageforecast government point higher for than GDP the by the BOK, which also revised its is one WILL NICOTINELL GIVE DR projection in May after the economy REDDY’S A HIGH expanded faster than expected in the first quarter. A jump in memory-chip sales by Dr. Reddy’s Laboratories Ltd’s recent acquisition of companies including SK Hynix Inc. Nicotinell, a nicotine replacement therapy (NRT) product propelled the economy to a 1.3% from British pharma firm Haleon, for £500 million. This expansion from a quarter earlier, far acquisition includes brands such as Nicotinell, Nicabate, outpacing the 0.6% consensus forecast of Habitrol, and Thrive, with a significant presence in economists. The pick-up in economic Europe, Asia, Latin America, Canada, and Australia. projections underscores optimism. Despite this strategic move offering a strong global footprint and brand recognition, the article highlights concerns about the long-term benefits and growth potential. 1. Financials Key Points: and Market Presence: The acquired brands had 2023 sales of £217 million, valuing the deal at 2.3 times sales. Nicotinell is the second-biggest global NRT brand outside the US, with a 25% market share in target regions. 2. Growth Concerns: Analysts are cautious, noting that the acquired portfolio has shown slow growth, with a 4% CAGR over the last three years. Dr. Reddy’s overall OTC business, comprising 10% of its sales, is also growing in single digits. 3. Revenue and Profitability: Dr. Reddy’s aims to maintain an EBITDA margin of about 25%, but faces challenges in its core US market. The company’s US generic sales, which account for half of its revenue, are experiencing lackluster growth.  MINT News 5 JULY 2024 MARK TO MARKET PERSISTENT SYSTEMS’ NEW ACQUISITION IS GOOD BUT NOT ENOUGH Persistent Systems LtdAXIS BANK MAY INTEGRATE CITI’S INDIA stock was in focus on Thursday, gaining more thanRETAIL ASSETS BY MID - JULY 3% and hitting a new 52- Axis Bank Ltd expects to week high of ₹4,760. complete the integration of Citibank's domestic retail This week, the assets with its systems by information technology (IT) company’s wholly the middle of July, 16 owned subsidiary months after it acquired the announced that it has foreign lender's India signed an agreement to consumer business. “We are acquire US-based Starfish hoping the transition will Associates, LLC for $20.7 get done in the middle of million July.  mint News DEALS, TECH AND STARTUPS FIBE TO FOCUS ON PROFITABILITY AFTER BIG RISE IN FY 24 Their focus is on achieving a controlled growth in sustained manner by building a strong and reliable customer base. The Pune-based start up ended GOVT. TO HOLD ‘GLOBAL FY 24 with an AUM ( Asset under Management) INDIA AI SUMMIT’TO Of about Rs4,000 crore, up a year from Rsearlier 1963 and Rs 1091 crore at crore DISCUSS AI ISSUES the end of FY22. The technology Ministry ofwill organize Electronics a global and AIInformation summit on The nine-year old start up TR Wednesday and Thursday in New Delhi. The 'Global Capital, Amara partners, TPG India AI Summit 2024' would enable India to establish rise, personal loans and impact itself as a global leader in AI innovation. And throught backed by the likes of loans such as healthcare loans, this Summit India would ensure that AI benefits are insurance accessible to all and contribute to the nation's socio- economic development. This Summit will privileges a edtech loans, platform to leading AI experts to share insights on key financing etc. AI issues and challenges. Except for FY2021, during which the company's revenue took a hit due to covid like most companies, Fibe has been growing at a rapid pace. MINT NEWS DEALS, TECH AND STARTUPS UNACADAMY LAYS OFF 250 WORKERS AMID REPORTS OF THE MERGER 1. This was necessary keeping in the mind the company's goals and vision for the year, as we focus all our efforts on sustainable growth and profitable. 2. In 2022-23, its losses to Rs.1678 crore from Rs.2847 crore in the year prior, but still nearly double it's revenue of Rs.907 crore that financial year. FINTECHS SEEKS POLICY OVERHAUL As fintech look to theydeepen presence, frameworkseek a regulatory thet promotes financial inclusion. FINTECHS in tier-II and similar markets seek tax benefits on total expenditure and subsidy on GST  MINT NEWS DEALS, TECHS AND STARTUPS COLLECTIVE ARTIST NETWORK ACQUIRES TERRIBELY TINY TALES Creator Market place and talent management firm collective artist network has brought Terribly Tiny Tales for an undisclosed sum. Founded by Anuj Gosalia in 2013 as a flash-fiction platform on Facebook, TTT hosts content across Instagram, You tube, and other social media channels with a community of VETERINARY DRUGS over five million creators. FIRM FELIX PLANS FUNDRAISE Felix Pharmaceuticals Pvt. Ltd, an Ireland - registered hasTerribly Tiny Tales collaborated with brands and veterinary pharma company that created original content, including operates web series, short films, and manufacturing facilities in India through a subsidiary, animated shorts. is looking to raise fresh capital for expansion and for providing an exit Window to some existing investors. The fundraising plan comes four years after Felix raised about $40 million in series C funding in 2020. Overall, the company has raised about $42 million since inception. Felix has a presence in India through unit Felix Generics Pvt.Ltd, which runs two manufacturing plants at Pithampur in Madhya Pradesh and a research and development centre at Greater Noida in Uttar Pradesh  MINT News DEALS, TECHS AND STARTUPS GOOD GLAMM EYES 1000 CRORE - The Good Glamm Group is in advanced discussions for Series E funding, expected to raise ₹1,000 crore (nearly $120 million), potentially its last round before going public. - The funding may involve both global and local strategic players, including private equity firms and beauty conglomerates from Asia, Europe, and the US. - The deal can occur at both the group and subsidiary levels, with a higher probability of major investment at the subsidiary level. - Good Glamm Group is backed by investors like Warburg Pincus, Prosus, Bessemer Venture Partners, Amazon, and Accel, and has made around a dozen acquisitions, including Mom’s Co, Baby Chakra, and St Botanica. - The company aims to become EBITDA profitable this year and expects to grow its revenue to ₹1,500 crore by the time it goes for an IPO in October 2025  MINT NEWS 3. VIEW POINT Seven Years of GST 1) Seven years of GST. a) Seven years of GST " one nation ,one market,and one tax". b) digitalization GST portal is available for registration,E invoices and other related factors c)input tax credit  mint News VIEWS USE DIALOGUE, DETERRENCE AND TRADE TO DEAL WITH CHINA 1. India's solar cell manufacturing capacity will increase to 30 gigawatts from 6 and also of solar photovoltaic modules will double 150 gigawatts in two years. 2. India's capacity now fulfills 97% of domestic demand for handsets, earned $15 billion in next two years. 3. Electronic export will touch $15 billion in the next two years. 4. China's share of India's industrial product import has increase to 30% from 21%.. STREET VENDORS IN INDIA ALSO DESERVE GOOD LAWS a street vendor attracting an FIR under the Bharatiya Nyaya Sanhita places a spotlight on infornal commerce and the complexity of market forces clashing with ci.vic discipline  MINT NEWS WRITTEN SUBMISSIONS TO views COURT COULD ACCELERATE JUSTICE THE COURT ON TRIAL, APARNA CHANDRA, HAVE TAKEN A DATA-DRIVEN APPROACH TO ASSESSING THE PERFORMANCE OF THE INDIAN SUPREME COURT. USING DATA-SETS CREATED FROM OVER A MILLION SUPREME COURT CASES, THEY TRY TO FIND ANSWERS TO WHETHER OUR APEX COURT IS IN FACT A “PEOPLE’S COURT”; WHETHER CERTAIN INDIVIDUALS (SENIOR COUNSELS WITH HIGH NAME RECOGNITION) HAVE INORDINATE INFLUENCE ON OUTCOMES; WHETHER THE CHIEF JUSTICE (AS MASTER OF THE ROSTER) HAS OUTSIZE INFLUENCE THROUGH THE ABILITY TO STRATEGICALLY ASSIGN CASES TO BENCHES OF HIS OR HER CHOICE; AND WHETHER THE PROMISE OF POST-RETIREMENT POSTINGS COULD INFLUENCE JUDICIAL DECISIONS TOWARDS THE END OF A JUDGE’S TERM. They then point to the fact that there are no con straints on the amount of time lawyers get to argue their cases. As a direct con sequence of this, cases THAT SAID, THERE WERE A NUMBER OF OTHER INSIGHTS THAT WERE USEFUL. FOR INSTANCE, THEIR stretch on indeterminately, not DATA ON THE BACKLOG OF CASES IN THE SUPREME only making it impossible to COURT WERE QUITE REVEALING: CLOSE TO 40% OF ALL CASES IN THE SUPREME COURT HAVE BEEN assess how long a given case will PENDING FOR MORE THAN FIVE YEARS, WITH AN ADDITIONAL 7.7% PENDING FOR MORE THAN 10. take to conclude, but also creating WHILE WE ALL HAVE ANECDOTAL INFORMATION a wholly unprofessional situation ABOUT THE DELAYS IN THE INDIAN LEGAL SYSTEM, IT MAY COME AS A SHOCK TO MANY THAT EVEN THE in courts where every other HIGHEST COURT IN THE LAND TAKES, IN SOME lawyer has to hang around waiting CASES, AS LONG AS THE HIGH COURT DOES, OR THE AVERAGE TRIAL LENGTH, TO DISPOSE OF A MATTER for lawyers in cases listed before theirs to stop speaking before they can stand up and argue their ,matter.  MINT NEWS view ADANI-HINDENBURG SAGA : SIDE ROLES COME TO LIGHT ?. The list of dramatis personal drama that unfolded in the after hindenburg report of 24 January 2023 on the adani group has grown. The market regulator had dubbed hindenburg's report sensationalist, asking it to explain its unfair efforts to profit from a crash in adani stocks that followed its allegations of fraud, stock manipulation and RESIDENTS OF ULTRA- more. SLUMS SHOULD HAVE Sebi was asked last year by the ACCESS TO WELFARE supreme court to investigate not PROVISIONS just proximate causes of the volatility in Adani stocks but also to The phenomenon of unplanned infrastructure and unkept sewer lines is not limited to cities probe the Adani group in the now...it has spread to most small and mid context of Hindenburg's allegations. sized urban centres. Making them not just slums , but ultra slums. In order to battle poverty decent jobs and livelihood opportunities need to be created and their even distribution throughout India needs yo be ensured. One should acknowledge one's ignorance towards the needbackward classes inorder to realize the for taking deep efforts that are required... that is , "from research and policy to action on the ground and business"  MINT News 5 JULY 2024 VIEW LET’S STEP UP INVESTMENT IN THE WISDOM OF CROWDS The article discusses the concept of the “wisdom of crowds,” a thesis by James Surowiecki, which asserts that collective decision-making can be smarter than individual choices. However, this is contrasted by the frequent occurrence of stampedes in crowded places, leading to GEN AI’S BRAIN FOG WILL NOT STOP A RECKONING tragic losses, such as the recent incident in Hathras, Uttar Pradesh, where 120 lives were lost in a crowd crush. FOR CREATIVE FOLKS The article discusses the current state of The article concludes by arguing that The author highlights the issue of Generative AI (GenAI) and its impact on GenAI is likely to continue to have a overcrowding in India, exacerbated by creative industries. The author argues that urbanization and socio-economic factors, disruptive impact on the creative while GenAI is not yet as reliable as some and questions whether people have become had hoped, it is still having a significant industries, and that creative workers desensitized to crowding. Public transport impact on the way creative work is done. will need to adapt to this new reality. face and even high-rise buildings Here are some key points from the One of the main challenges with GenAI is overcrowding issues, with little regard for article: that it is not very good at understanding personal space. The piece suggests that while crowds can be factual information. This makes it difficult GenAI is not as reliable as some had calm and orderly, the risk of mortality can be to use GenAI for tasks that require hoped. reduced through proper administrative accuracy, such as financial modeling or GenAI is still having a significant measures and public awareness. The National healthcare. However, GenAI is very good at impact on the creative industries. Disaster Management Authority has generating creative text formats, like guidelines to manage crowds, but there is a poems, and creative images, even if they need for better planning and public are sometimes strange or inaccurate. GenAI is not very good at messaging to promote safe behavior. understanding factual information. Ultimately, the article advocates for This is leading to a major shift in the GenAI is very good at generating increased responsibility and are creative industries, as businesses creative text formats and creative consciousness among people regarding increasingly turning to GenAI to generate images. content. This is having a negative impact on GenAI is leading to a decline in their collective safety to prevent freelance creative workers, who are seeing tragedies caused by crowd mishaps. a decline in demand for their services. demand for freelance creative workers. Team Name : Stowers 1.Devansh Khurana 2.Hariom 3.Deepa Sharma 4.Ayush Kumar 5.Divya 6.Himanshi 7.Kushagra 8.Prerna 9.Garima 10.Harsh Tomar