Economy

India’s Foreign Exchange Reserves Reach One-Month High to $622.47 billion

India's foreign exchange reserves have surged to a one-month high, reaching $622.47 billion as of February 2, according to data released by the Reserve Bank of India (RBI) on February 9. This marks the second consecutive week of increase, with...

LS Passes Finance Bill, Completes Interim Budget 2024-25

The Lok Sabha has successfully passed the Finance Bill, 2024, marking the completion of the interim budget exercise for the fiscal year 2024-25. The interim budget does not propose any alterations to the existing tax structure, as the final budget...

Fitch Predicts India’s Fiscal Deficit at 5.4%, Exceeds Government Target

Fitch, a global ratings agency, forecasts India's fiscal deficit to reach 5.4% of GDP in FY25, surpassing the government's target of 5.1% announced by Finance Minister Nirmala Sitharaman. The agency views the government's adjustment of the FY24 deficit target to...

OECD Raises India’s Growth Forecast for FY25 to 6.2%

In its latest interim economic outlook, the Organization for Economic Co-operation and Development (OECD) has revised India's GDP growth forecast for the fiscal year 2024-25 (FY25) upwards to 6.2%, a marginal increase from the previous estimate of 6.1%. Growth Forecast...

Jammu and Kashmir gets $14 billion from interim budget

India's Interim Budget for Jammu and Kashmir India has taken a significant step towards the economic development of the Union Territory of Jammu and Kashmir by announcing an interim Budget of $14 billion for fiscal year 2024-25. This financial commitment...

RBI Announces: 97.50% of Rs 2,000 Notes Returned to System

The Reserve Bank of India (RBI) revealed on February 1 that 97.50% of the Rs 2,000 currency notes in circulation as of May 19, 2023, have been successfully reintegrated into the banking system. This development follows the government's decision to...

Record-Breaking UPI Transactions Hit ₹18.4 Trillion in January: NPCI Data

The National Payments Corporation of India (NPCI) reports a remarkable milestone in Unified Payment Interface (UPI) transactions for January, reaching a record ₹18.41 trillion. This marks a 52% increase in volume and a substantial 42% rise in value compared to...

Govt Offers ‘Bharat’ Rice At ₹29/kg In Retail Market

In response to escalating rice prices, the Government of India has unveiled the 'Bharat' brand rice, aiming to address market volatility and ensure affordability for consumers. he rice will be available in 5- and 10-kg packs at ₹29 per kg...

Budget 2024: Bhutan Leads As Top Indian Aid Recipient

The Interim Budget 2024, unveiled by Finance Minister Nirmala Sitharaman, sheds light on India's foreign aid allocation, with Bhutan emerging as a significant recipient. In the Financial Year 2024-25, India allocated a substantial portion of its budget to foreign aid,...

Budget 2024 Unveils INR 1 Lakh Crore Corpus for Private Sector R&D Incentives

In a groundbreaking move to foster research and development (R&D) within the private sector, Finance Minister Nirmala Sitharaman, during the Interim Budget 2024 announcement, disclosed the establishment of a substantial financial corpus amounting to INR 1 lakh crore. This corpus...