Economy

H-1B ecosystem mainly benefits US firms more than Indian ones: Nasscom Prez

While India has always been recognized for its talent, we must now deepen our technology skillsets to drive growth

Sitharaman to hold pre-Budget talks with state finance ministers on Friday

The official further noted that this year's Budget consultations are particularly significant due to the political outcomes of recent state elections

GST Council may provide exporter status to intermediaries for tax relief

At present intermediary services are charged at 18 per cent under the Central GST Act

Commerce dept plans mega global meet to boost exports in six product areas

The meet comes against the backdrop of merchandise exports hitting a 25-month low in November amid continued geopolitical tensions as well as a decline in petroleum prices

State govt fiscal situation improves; sops may crowd out resources

Market borrowing surged 32.8% in FY24, RBI report says

Trump, not yet in office, already a figure in global economic policy

Some Fed officials incorporated 'highly conditional estimates' of Trump effects in new projections

Rising pressure on rupee clouds RBI's February rate cut prospects

India's foreign exchange reserves have declined by $50 billion this quarter as of December 13, according to the latest RBI data

India, US need to work together to lower tariffs: US Ambassador Garcetti

Speaking at an industry event organised by the US-India Business Council (USIBC), Garcetti called India the "highest tariff" major economy in the world

States' freebies crowd out resources needed for development: RBI report

RBI's 'State Finances: A Study of Budgets of 2024-25', however, said state governments have made commendable progress towards fiscal consolidation by containing their aggregate gross fiscal deficit

Rupee falls past 85/USD to all-time low after hawkish US Fed outlook

US central bank indicates more measured pace of rate cuts, triggering uncertainty across financial markets

Fed cuts key interest rates by 0.25%; reverse repo rate lowered to 4.25%

Analysts believe the largely expected adjustment is a bid by the Fed to nudge cash out of a facility that's widely viewed as a proxy for excessive liquidity in the financial system

At $129 bn, India top recipient of remittances this year: World Bank

The growth rate of remittances this year is estimated to be 5.8 per cent, compared to 1.2 per cent registered in 2023

Investments, consumption to drive growth in FY26 to 6.6%: India Ratings

The rating agency also noted that inflation is likely to decline to 4.3 per cent in FY26 from 4.8 per cent projected by the central bank for the current fiscal

GoM proposes GST cuts for health insurance, exemption for term policies

Also recommends reduction of rate on individual health covers from 18% to 5%

Safari Retreats case on GST Council table, SC verdict may be reversed

The SC judgment on the expression "plant or machinery" appears to defeat the intention of the GST Council, the law committee observed

Govt likely to target FY26 fiscal deficit at 4.4% of GDP to support growth

Looks to ensure enough financial headroom amid global headwinds

India replaces Italy to bag 10th spot in US trade deficit rankings in 2024

The Trump administration has earmarked clearly three areas on the basis of which it will determine trade negotiations. One clearly is to look at ways to reducing its trade deficit with some countries

Net direct tax collection grew 16.45% to Rs 15.82 trn till Dec 17 of FY25

Gross direct collections during the period grew 20.3 per cent to Rs 19.2 trillion, with refunds increasing 42.5 per cent to Rs 3.4 trillion

'India charges a lot': Donald Trump threatens 'reciprocal' tariffs

Trump's remarks on India, made just weeks after he pledged to increase tariffs on imports from Mexico, Canada, and China

EPFO, ESIC subscribers may soon use claim money via e-wallets: Labour secy

We have started talks with bankers and also we are going to have a plan in place on how we can do this practically, the official said