Page 484 - Economy & Policy News

India could be third largest economy in 2026: Ex Niti Aayog VC Panagariya

Today, India is the world's fifth-largest economy, preceded, in ascending order, by Germany, Japan, China, and the United States of America (USA)

Direct taxes mop up after refunds in FY24 at Rs 13.7 trn till Dec 17

It was backed by a 20% increase in advance tax revenues

Centre says likely to achieve fiscal deficit target of 5.9% of GDP in FY24

India's fiscal deficit in the first seven months of the financial year ending on March 31, 2024 was 8.04 trillion Indian rupees ($96.86 billion), or 45% of the estimate for the whole year

RBI board discusses prevailing economic, financial scenario at 605th meet

The 605th meeting of the Central Board of Directors of Reserve Bank of India was held today in Ekta Nagar (Kevadia) under the Chairmanship of Governor Shaktikanta Das.

Over 74 mn ITRs filed in FY23, 50 mn people showed zero tax liability: Govt

Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha there has been an increase in the number of returns filed in the last five years

RoDTEP does not violate WTO principles, India to convince US: Official

The RoDTEP scheme came into effect three years ago to refund the embedded non-creditable central, state, and local levies paid on inputs to exporters

ICRA revises FY24 GDP growth forecast to 6.5%, still below RBI's estimate

Earlier this month, the RBI had revised upwards its GDP estimate to 7 per cent from 6.5 per cent, calling the revised number a "conservative" one

NHAI awards toll, operate and transfer projects of 273 km for Rs 9,384 cr

The financial bids were opened on November 14, 2023, and with the approval of the concerned authorities, the letters of award were issued within a day to the successful bidders

Will driverless cars run on Indian roads? Nitin Gadkari clears the air

Union Minister Nitin Gadkari firmly stated his opposition to the introduction of driverless cars in India

SC quashes GST department's plea against HC order on input tax credit

Experts divided on whether the verdict will set a precedent in similar cases

Telecom Bill 2023: GMPC players may get spectrum at administered price

As the government tables the Telecommunications Bill, 2023 in Lok Sabha, the move is seen as a big win for Sunil Mittal's OneWeb, which had been pushing for the same

India needs to address issues like malnutrition to become developed: Rajan

He also stressed on nurturing the human capital in the country by offering appropriate training on a large scale

NPS added 19% fewer fresh corporate subscribers in first half of FY24

Experts blame the fall on higher exemption limit for Rs 7-5 lakh IT bracket

Hoping for reduction of rates from middle of FY25: SBI Chairman Khara

Khara also says, in an interview with Manojit Saha, the bank has a plan to plough back a significant part of its profit this financial year, and that would increase capital adequacy ratio by 140 bps

A year of setting up a new system of regulation

The RBI's efforts in 2023 were directed at supporting fair practices, innovation and controlling risks while focusing on financial stability

Ladli behna scheme lifts women's spending by Rs 9,302 each: SBI report

According to the research, which looked at the data of at least 4 million of the LBS beneficiaries, around 94 per cent women covered are in the age group of above 25 years

Gen AI can add up to $1.5 trillion to India's GDP over next 7 years: Report

The anticipated impact entails improvements in workforce productivity, increased operational efficiency, and personalised customer engagement, the report said

Electronics, services exports to contain slide in growth rate of trade

Economic think tank Global Trade Research Initiative (GTRI) in its report said that despite global challenges, India's exports and imports of goods and services are likely to dip by 2.6 per cent

By 2047, India to remain a lower middle country if growth remains 6%: Rajan

According to him, the current pace of growth is not enough to employ all those who are entering the labour force and insufficient to make the country us get rich, before it gets old

India, Oman discussing utilisation of UPI stack, possibility of rupee trade

Kwatra underscored the significance of Oman's successful participation as a special guest country in the G20 during India's presidency, particularly at the G20 summit in September