On June 22, 2024, Finance Minister Nirmala Sitharaman led the 53rd GST Council meeting. The session covered several essential measures, such as tax amendments, the integration of Aadhaar biometrics, and exemptions for railway services. Highlights from the 53rd GST Council Meeting: Aadhaar Authentication The GST Council suggested rolling out biometric-based Aadhaar authentication for GST registration …
According to a recent study by Nasscom and Zinnov, India has over 3,600 startups working in advanced technology fields like deeptech, ranking 6th globally in this sector. In the year 2023 alone, over 480 new deeptech startups were founded, twice the number established in 2022. This information is detailed in the report ‘India’s deeptech dawn: …
In the energetic marketplace of making investment decisions, where waves of uncertainty crash against the shores of opportunity, retail investors need information that is credible, updated, and relevant. That they can use to guide them through the turbulence of a volatile marketplace. In a volatile world of investments, access to authentic and timely access to …
The Reserve Bank of India (RBI) has recently released its bi-monthly report (May 2024) about Consumer Confidence Survey (CCS). The survey report indicates the perceptions of people (current vs. that of last year) and their expectation of how things would be after one year. The survey is done across 19 cities. The current survey was …
On June 12, 2024, the Telecom industry body Cellular Operators Association of India (COAI) said it expects the government to assign the 6 GHz band spectrum for expanding 5G networks. Additionally, COAI proposed implementing a policy where major applications would bear the cost of excessive data traffic they generate. The association, representing key players like …
The Ministry of Coal (MoC) is taking decisive action to ensure a reliable power supply for Indian citizens during the peak demand period. Through a multi-pronged approach, they have achieved record-breaking coal stockpiles at thermal power plants, exceeding 45 million tonnes (MT) as of June 16, 2024. This represents a significant 31.71% increase compared to …
The scorching heat wave gripping Northern India since mid-May 2024 has pushed power demand to unprecedented levels. The region saw its highest-ever peak demand of 89 GW on June 17th, 2024. Despite these challenges, the government successfully met this demand by strategically importing 25-30% of the region’s power needs from neighbouring states. Utilities have also …
Fitch Ratings has increased its growth forecast for India to 7.2%, aligning with the Reserve Bank of India’s (RBI) prediction. This positive outlook is driven by improving consumer confidence and higher investment. Although investment is expected to continue rising, it will do so at a slower pace than in recent quarters. FY 2023-24 Economic Performance …
Credit rating agencies (CRAs) in India are seeking intervention from the central bank, the Reserve Bank of India (RBI), to address the rising issue of non-cooperative companies. The Problem A significant challenge faced by CRAs is the increasing number of rated companies (estimated at over 60%) that are withholding crucial information needed to maintain their …
India’s retail inflation records a 12-month low of 4.75% in May, as per government records. This is slightly lower than the 11-month low in April of 4.83%. The number remains within the RBI’s tolerance band of 2-6%. The inflation rate, however, remains unchanged at 0.48% in May. Other records that impact the aggregate retail inflation …
