In a significant boost to India’s fiscal landscape, the Gross Goods and Services Tax (GST) revenue for March 2024 soared to a remarkable Rs 1.78 lakh crore. This achievement marks the second-highest collection in history, showcasing an impressive 11.5% year-on-year growth. The surge primarily stems from a notable increase in GST collection from domestic transactions, …
The Government of India, in tandem with the Reserve Bank of India (RBI), has outlined its borrowing agenda for the first half (H1) of the fiscal year 2024-25 (FY 2024-25). Let’s delve into the details of this crucial financial strategy. Gross Market Borrowing Overview Out of the projected Rs 14.13 lakh crore for FY 2024-25, …
India’s economic landscape saw a notable shift in the third quarter of the fiscal year 2023-24, with the current account deficit (CAD) narrowing to $10.5 billion, a positive development compared to the preceding quarter. The Reserve Bank of India’s (RBI) data release on March 26, 2024, shed light on this significant change. CAD Trends In …
India’s growing energy needs have pushed coal imports up in the April-January period of FY 2023-24. As per media reports, India imported 212.24 million tonnes (MT) of coal, reflecting a marginal increase of 1.65% compared to the same period last year. This rise in imports comes despite a positive trend in domestic coal production. Provisional …
As the vibrant festival of Holi approaches, the air is not just filled with colourful powders but also a palpable sense of excitement and anticipation among revellers and the business community alike. Holi, known as the festival of colours, signifies the triumph of good over evil, welcoming the spring season with open hearts and vivid …
NHAI’s Mega Fundraise via InvIT The National Highways Authority of India (NHAI) successfully concluded the largest ever monetization exercise in the Indian road sector by raising a massive Rs 16,000 crore through its National Highways Infra Trust (NHIT) in the third round. This accomplishment marks a significant milestone for the NHIT, established in 2021 to …
On March 19, 2024, the Ministry of Finance announced the provisional figures of Direct Tax collections for the FY 2023-24 (as of March 17, 2024). The net collections for the period stood at ₹18,90,259 crore as compared to ₹15,76,776 crore in FY 2022- 2023, reflecting a growth of 19.88%. The net direct tax collection includes …
In the last 9 years, the insurance sector has received close to ₹54,000 crore as Foreign Direct Investment (FDI) on the back of additional liberalisation of overseas capital flow norms by the government. FDI Inflow in the Indian Insurance Sector Financial Services Secretary Vivek Joshi stated that the Indian government has increased the permissible FDI …
In February 2024, India’s exports, including merchandise and services, were estimated to be USD 73.55 billion, exhibiting a positive growth of 14.20% over February 2023. In February 2024, the total imports were estimated to be USD 75.50 billion, displaying a growth of 10.13% compared to February 2023. Trade During February 2024 February 2024 (USD billion) …
On March 15, 2024, the Ministry of Railways made an auspicious announcement, heralding a new peak for Indian Railways in terms of its freight business, total revenue, and track laying for the fiscal year 2023-2024. This proclamation marks a significant milestone in the annals of the nation’s railway history. As of the date mentioned above, …
