Introduction: As the scorching summer heat looms ahead, the Indian government is gearing up to tackle the surging electricity demands across the nation. Led by the Union Minister for Power and New & Renewable Energy, Shri R. K. Singh, a slew of measures are being orchestrated to ensure uninterrupted power supply during the upcoming season. …
India’s manufacturing sector has shown remarkable resilience and growth in March, with the HSBC Purchasing Managers’ Index (PMI) hitting a 16-year high of 59.1. This growth is driven by a surge in output and new orders, signaling a strong recovery from the challenges posed by the pandemic. Let’s delve deeper into the factors contributing to …
Yuan Wobbles, Rupee Feels the Pinch The recent fluctuations in the yuan’s value have had a knock-on effect on the Indian rupee, sparking speculation that the RBI may need to adjust its grip on the currency. In March, the rupee hit a record low on the same day the yuan experienced a significant depreciation. This …
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 …
