In October 2024, the Reserve Bank of India (RBI) net sold $9.2 billion, marking the highest monthly sale of foreign currency since September 2022, when it sold $10.3 billion. As per the RBI’s monthly bulletin, it purchased $27.5 billion and sold $36.7 billion during the month. Rupee Breaches 84 Per Dollar On October 11, the …
GST will now be applicable on the sale of old and used vehicles by registered sellers only if the selling price exceeds the car’s depreciated value. Depreciated value is calculated based on the purchase price minus depreciation claimed under the Income Tax Act. For example: If a car with a depreciated value of ₹12 lakh …
India’s GDP growth, which slowed to 5.4% in the July–September quarter, is rebounding in the October–December period. According to the Reserve Bank of India’s (RBI) State of the Economy report, high-frequency indicators show signs of recovery, driven by strong festival activity and growing rural demand. The RBI anticipates GDP growth of 6.8% in Q3 and …
On December 25, 2024, the Employees’ Provident Fund Organisation (EPFO) has released the provisional payroll data for October 2024, showing a net addition of 13.41 lakh members, indicating a growing trend in employment opportunities and an increasing awareness of employee benefits, aided by EPFO’s successful outreach programs. In October 2024, EPFO enrolled approximately 7.50 lakh …
The Fast-Moving Consumer Goods (FMCG) sector is considered one of the safe defensive investments in the financial market, given its resilience during economic downturns and constant demand for everyday essentials. However, in a world where consumer preferences shift rapidly, understanding the dynamics of this sector can provide invaluable insights for investors, businesses, and consumers alike. …
India’s economy is projected to grow at a rate of 6.5% in FY25 and FY26, according to the EY Economy Watch December 2024 report. Despite headwinds from declining private consumption and investment, achieving this growth will require significant government capital expenditure and a strategic investment roadmap to address the domestic and global challenges. Decline in …
As per news reports, On December 20, 2024, the Government of India and the Asian Development Bank (ADB) signed a $500 million loan agreement to bolster green and sustainable infrastructure projects. The loan, with a sovereign guarantee, will be extended to the India Infrastructure Finance Company Limited (IIFCL) to support projects aligned with India’s climate …
India’s FMCG market has always been fiercely competitive, with brands constantly vying for consumer attention. In 2024, this competition brought out some remarkable winners. Based on consumer reach points (CRPs), Kantar’s latest report showcases the top FMCG brands that dominated the Indian market. Let’s look at the top 10 brands and what makes them stand …
South Korea’s bakery industry is enjoying its moment in the spotlight, thanks to the rising global popularity of Korean culture and cuisine. In the first eleven months of 2024, the country’s bakery product exports soared to a record $440 million, marking an impressive 8.3% growth compared to the same period last year. This remarkable feat …
The Goods and Services Tax (GST) Council, led by Finance Minister Nirmala Sitharaman, convened on Saturday, December 21, 2024, and made several key decisions. The Council decided to impose an 18% GST on the margin value from the sale of used electric vehicles (EVs) by businesses. Additionally, it clarified that caramel popcorn will continue to …
