Over the past decade, India has witnessed a significant decline in household savings rates, reaching a four-decade low. This shift has broad implications for economic stability and individual financial security across the nation. Understanding the Decline From a robust 34.6% of GDP in the 2011-12 fiscal year, India’s gross domestic savings rate plummeted to just …
Kisan Diwas, or National Farmers’ Day, is celebrated annually on December 23 in India to honour the birth anniversary of Chaudhary Charan Singh, the 5th Prime Minister of India. A farmer’s leader and advocate for the agricultural community, Charan Singh introduced several policies that improved the lives of farmers across the nation. This day is …
UIDAI has extended the free online document upload facility until June 14, 2025, giving millions of Aadhaar Number holders more time to update their details at no cost. This free service is available on the MyAadhaar portal. This includes updates to personal details such as name, address, and mobile number. However, several myths surrounding Aadhaar …
As 2025 begins, it’s the perfect time to reset and take control of your financial future. If you’ve come to the conclusion that 2024 was a year of excessive, reckless spending, you’re not alone. The growing popularity of Buy Now, Pay Later (BNPL) schemes and easy e-commerce instalment options has been pushing many, particularly young …
For taxpayers who missed the original deadline to file their Income Tax Return (ITR) for FY 2023-24 (AY 2024-25), the clock is ticking. The final date to submit belated or revised ITRs is 31st December 2024. This deadline is applicable to all taxpayers, irrespective of their category, as mandated by the Income Tax Act. Filing …
On Thursday, December 19, 2024, Gold prices surged over 1% recovering from a one-month low, driven by short-covering as traders awaited critical U.S. economic data for further insights into the US Fed interest rate decision. By 02:51 GMT, spot gold had risen 0.8%, reaching $2,607.88 per ounce, while U.S. gold futures eased slightly, dropping 1.2% …
The Unique Identification Authority of India (UIDAI) has extended the deadline for free Aadhaar updates to June 14, 2025. This extension offers users more time to update their Aadhaar details online without incurring any charges. The move is aimed at maintaining demographic accuracy and encouraging residents to verify and update their information, particularly for Aadhaar …
Introduced in the 2015-16 Union Budget, the Atal Pension Yojana (APY) aims to provide financial security to workers in the unorganised sector, such as domestic helpers, gardeners, and delivery personnel. Employees without pension benefits in their organisations are also eligible to join the scheme. Who Can Join the Scheme? Indian citizens between the age of …
The Central Board of Direct Taxes (CBDT) has granted a 15-day extension for taxpayers involved in international or specified domestic transactions who need to file reports under Section 92E of the Income-tax Act. This extension aims to provide additional time for compliance with transfer pricing regulations. Deadline Extension and Requirements Originally, the deadline for filing …
The EPFO (Employees’ Provident Fund Organisation) has decided to reinvest 50% of the proceeds from redeeming its exchange-traded funds (ETFs) back into equity. This move, approved by its 42-member central board of trustees, aims to increase equity exposure and generate higher income for its nearly 70 million subscribers. Board Meeting Highlights First Meeting of FY24 …
