Browsing Category
Economy
India’s forex reserve scale a new high of $674.91 billion
New Delhi: India's foreign exchange reserve has touched a new high at $674.91 billion for the reporting week to August 2, ratcheting up a good $7.53 billion in the reporting week, indicating a robust external sector performance, according…
FM Sitharaman asserts GST on insurance decisions rest with GST Council
NEW DELHI: Finance Minister Nirmala Sitharaman emphasized in the Rajya Sabha on Thursday that the decision regarding the Goods and Services Tax (GST) on health and life insurance premiums rests solely with the GST Council. She stated that…
Rupee hits record low of 83.80 vs US dollar in early session.
MUMBAI: Rupee opened on a muted note and fell to an all-time low of 83.
80 against the US dollar on Monday, as the risk off situation in world markets kept the dollar well bid.
Forex traders said the sharp downfall in the domestic…
Next round of India-ASEAN trade agreement review talks in November
NEW DELHI: The next round of talks for the ongoing review meeting of the India-Asean free trade agreement in goods will be held in November, an official statement said on Saturday.
The third round of the negotiations was concluded on…
India achieves highest global growth rate in agricultural GDP
NEW DELHI: Agriculture has been a key focus area of India's development strategy, achieving a remarkable growth rate of 5 percent in the farm sector over the seven years from 2016-17 to 2022-23, according to Niti Aayog member Ramesh Chand.…
India’s forex reserves drop by USD 3.4 billion
MUMBAI: Indicating serious intervention in the forex market to defend the rupee that has plumbed to record lows in the week, the forex reserves have come off the record highs, falling by $3.4 billion to $667.39 billion for the week ending…
Gross GST collection for July rises 10.3% to Rs 1.82 lakh crore
NEW DELHI: After facing criticism for not officially announcing the monthly GST collection numbers in June, the government on Thursday announced the revenue figures for July 2024. The gross GST collection in July rose 10.3% to Rs 1.82 lakh…
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…