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Economy
Spanish Media Reports India’s Story: Growth remains above 6%
With beginning of new month August 2024, we launch a news sharing collaboration with a leading Spanish journal ATALAYAR, from Madrid, to bring Europe's and particularly Spanish media coverage of Indian, Asian and Global Affairs, for the…
India Ratings jacks up growth forecast to 7.5% this fiscal
New Delhi: Citing the ongoing growth momentum led by government capex, deleveraged balance sheets of corporate robust quality banks’ assets, and a likely revival in private corporate capex, India Ratings has upped its growth forecast for…
50% increase in personal income tax collections in Q1
New Delhi: A 50% growth in personal income tax collections has helped the Centre’s gross tax collection surge 23.65% in the first quarter of the current financial year. Personal income tax collections in the April-June period rose almost…
Digital economy poised to be 20% of GDP by 2026
India's cost per gigabyte of data consumed is the lowest globally at an average of Rs 13.32 ($0.16) per GB with one of the highest mobile data consumption in the world, averaging a per-user per-month consumption of 24.1 GB in 2023.
Duty cut boosts gold jewelers’ sales by 35-40 per cent
Over the past three years, gold prices have surged by over 40 per cent, with a 20 per cent increase since April 2024 alone. Despite this, India remains the world's second-largest consumer of gold, with 562.3 tonnes consumed in 2023, just…
G20 nations agree to work together towards taxing super rich
Rio de Janeiro: G20 nations have agreed to work together to make the super-rich pay their taxes, but stopped short of a more substantial deal, according to a declaration adopted Friday after a meeting of finance ministers in Rio de Janeiro,…
US economy posts 2.8 percent growth in April-June quarter
Washington: The US economy, despite high interest rates, grew at 2.8 percent in the second quarter -- double the rate of 1.4 percent that it saw in the January-March period. The significant growth is mainly attributed to increased consumer…
Capital gains tax shocker for real estate
NEW DELHI: The real estate sector was in for a shock as the government on Tuesday removed the indexation benefit on long term capital gains on unlisted assets including real estate. Though the government has reduced the long term capital…
Infrastructure projects face land acquisition hurdles
NEW DELHI: Despite the large build-up of connectivity infrastructure and energy-related assets, both sectors reported the need for corrections in the delay in land acquisition, and land-related clearances, said the Economic Survey of 2024…
India’s energy demand to grow 2.5 times by 2047
NEW DELHI: India’s energy needs are expected to grow by 2 to 2.5 times by 2047 to meet the developmental priorities and aspirations of a growing economy, according to the Economic Survey tabled in Parliament on Monday.
As per the survey,…
Land deals fell in Q2 due to rising prices.
NEW DELHI: Land acquisition by developers and other entities plunged in the second quarter of this year (April-June) as the 2024 general elections and skyrocketing land prices dampened sentiments. The number of land deals closed in Q2 2024…
Indeed reports more manufacturing jobs in India.
New Delhi: Indian manufacturing appears to be growing, creating more jobs. Indeed, the largest global hiring and matching platform, reports increased job openings in the sector and a need for new talents.
The Indian industrial industry…
Chemical industry needs government intervention to grow: J P Nadda
New Delhi: Union Chemicals and Fertilizers Minister Jagat Prakash Nadda said Saturday that the government will adjust its policies and programs to help the chemicals and petrochemicals industry grow.
The minister spoke after starting the…
Forex kitty up by $10 billion to $667 billion
MUMBAI: The country’s forex reserves, a key monetary defence against external risks, have rallied by a whopping $10 billion to touch an all-time high of $666.85 billion as of the week ending July 12, boosted by the heavy inflow into…
Sources say India will ease rice export curbs as stocks reach record highs
New Delhi: India is likely to cut the floor price for basmati rice exports and replace the 20% export tax on parboiled rice with a fixed duty on overseas shipments, government sources said, as rice inventories in the country jumped a record…
IMF raises India’s growth forecast by 20 bps to 7% for FY2024-25
In 2025-26, the IMF expects growth to slow to 6.5%, the same as what was projected in its April review.
Corporate tax cut enriched billionaires by Rs 2 lakh crore; middle-class hit by heavy taxes:…
Jairam Ramesh pointed out that corporate tax rates were slashed on September 20, 2019, with the hope of triggering a private investment boom. Instead, he noted, private investment has collapsed.
Government proposes mandatory labelling for bulk pre-packaged commodities; seeks public comments
The proposed amendment would require manufacturers, packers, and importers to provide comprehensive labelling on all pre-packaged goods intended for retail sale, regardless of quantity.
PE inflows begin to look up, jumps 75% QoQ 3.6 billion USD in Q2
India remains a critical market for deploying private equity capital, accounting for at least 22 per cent of the total inflows into Asia Pacific in the first half of 2024.
India can become world’s second-largest economy by 2031: RBI Dy Governor
India is to overtake the US in terms of purchasing power parity by 2048 to become the second-largest economy of the world.