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, …
Government Initiatives to Enhance Data Quality The Indian government is embarking on several measures to upgrade the quality of its economic data, as revealed by sources familiar with the matter. These proposals, discussed within Prime Minister Narendra Modi’s office, include reviving the business survey, last conducted in 2014, and publishing the household consumption survey annually. …
The Securities and Exchange Board of India (Sebi) has raised concerns about potential manipulation of share prices in the SME segment, both at the time of initial public offerings (IPOs) and during subsequent trading. Sebi chairperson Madhabi Puri Buch expressed these concerns during an interaction with journalists in March 2024. Surge in SME Listings and …
On March 13, 2024, the central government announced a new scheme to promote the sale of electric two and three-wheelers. New Scheme For Electric Two and Three Wheelers On Wednesday, Heavy Industries Minister Mahendra Nath Pandey announced that ₹500 crore is being allocated for the Electric Mobility Promotion Scheme (EMPS), 2024. This scheme is valid …
On March 12, 2024, the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) released India’s inflation data for February 2024, which brought some relief to the nation. The Consumer Price Index (CPI) inflation fell to 5.09%. This marks a decline from 5.10% in January and is under the tolerance range of 2% …
For the past four months, the demand for Indian bonds has been notable. On Monday, March 11, 2024, the yield on the 10-year government bond touched 7.01%, its lowest level since June 2023. Furthermore, there is a strong signal that the yield is expected to hit about 6.90% in the near future. Government bond yields …
The outlook for India’s economy is bright and positive. India Ratings and Research (Ind-Ra) recently released a report predicting that by FY 2033–2036, India may move into the upper-middle income bracket. This is an intriguing concept that represents a big step forward, but what does it really imply and is it realistic? “The onward journey …
