Economy

October Gross GST Collections Reach ₹1.72 Lakh Crore

In October, India witnessed a significant rebound in its Gross Goods and Services Tax (GST) collections, reaching a 10-month high of ₹1.72 lakh crore. This growth of 13.4% year-on-year is the sharpest uptick since December 2022, reversing a three-month trend...

PFRDA Makes ‘Penny Drop’ Verification Mandatory For NPS Fund Withdrawal

The Pension Fund Regulatory and Development Authority (PFRDA) has introduced new National Pension System (NPS) withdrawal rule changes, providing subscribers with greater flexibility in managing their retirement funds. In addition, the PFRDA has made 'penny drop' verification mandatory for NPS...

India’s Fiscal Deficit Reaches 39.3% of FY24 Target in First Half of the Year

In the first half of the 2023-24 financial year, India's central government faced a fiscal challenge, with the fiscal deficit rising to 39.3% of the annual target, a slight increase from the previous year's 37.3%. This widening gap between expenditure...

8.1% Growth Rate in 8 Key Infrastructure Sectors in September 2023

In September 2023, the growth rate of eight key infrastructure sectors in India witnessed a slowdown, reaching a four-month low of 8.1%. This decline is notable compared to the 8.3% growth recorded in the same month the previous year. Several...

IMF Forecasts Global Growth Slowdown To 2.9% In 2024

The International Monetary Fund (IMF) has recently unveiled its latest economic projections, revealing that global growth is expected to remain at 3 percent in 2023 and further decline to 2.9 percent in 2024, marking one of the lowest growth rates...

Vision India@2047: Transforming India into a Developed Nation by 2047

The Indian government is working on a comprehensive national vision plan, known as 'Vision India@2047', aimed at transforming the country into a developed nation by 2047. The plan is designed to prevent India from falling into the middle-income trap and...

Centre approves 22,303 Crore ₹subsidy on Key fertilizers

The Indian government recently announced changes in the subsidy rates for key fertilisers, affecting nitrogen (N), phosphorus (P), potassium (K), and sulphur (S). Despite global price increases, the government aims to maintain affordable fertiliser prices for Indian farmers. Subsidy Reductions...

India to surpass Japan in 2030 to become 2nd largest economy of Asia, says S&P Global

India's economy is on the rise! By 2030, its Gross Domestic Product (GDP) is predicted to reach a whopping $7.3 trillion, making it the second-largest economy in the Asia-Pacific region, just after China. Overtaking Japan and More In 2030, India's...

Bangladesh Floats Currency for the First Time to Access IMF Funds

In a historic move, Bangladesh's central bank has decided to allow its currency, the taka, to float freely for the first time. The decision comes in response to demands from the International Monetary Fund (IMF) and aims to unlock additional...

Finance Bill 2023 passed in Lok Sabha

The Lok Sabha passed the Finance Bill 2023, which implements tax proposals for the upcoming fiscal year, without any discussion. The passage of the Bill occurred amid Opposition uproar over the Adani controversy. More About The Finance Bill 2023: Proposals...