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RBI Refused Govt’s Push to Transfer Rs 3 Lakh Crore in 2018 Ahead of General Election: Viral Acharya

September 6, 2023 2:49 pm

New Delhi: The Reserve Bank of India (RBI) refused the government’s proposal to extract Rs 2-3 lakh crore from its balance sheet in 2018 for pre-election expenditure ahead of Lok Sabha polls in the following year, former central bank deputy governor Viral Acharya said in a new prelude to his book, Quest for Restoring Financial Stability in India. According […]

Under The PLI Scheme, India Is Paying Manufacturers To Bring Work: Raghuram Rajan

August 16, 2023 10:26 am

In an interview with Karan Thapar, former RBI governor general Raghuram Rajan points out flaws in the Union government’s claim that India has become a mobile phone exporter after the Production Linked Incentive (PLI) scheme was introduced. Apart from questioning the numbers about net exports, Rajan also asks if the government’s assumption that low-skill manufacturing […]

Rs 500 Notes Worth ₹88,032.5 Cr Missing

June 16, 2023 7:00 pm

As a considerable amount of 500-rupee notes appear to have vanished, the Reserve Bank of India (RBI) is faced with a complex problem that raises serious security implications for the Indian economy. With an estimated value of a staggering ₹88,032.5 crore, the whereabouts of approximately 1,760.65 million of these notes remain unknown, including those printed […]

RBI Keeps Repo Rate Unchanged At 6.5%

June 8, 2023 11:48 am

RBI Governor Shaktikanta Das announced on Thursday that the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has decided to maintain the repo rate at 6.5 per cent. This decision comes after the central bank’s previous meeting in April, where it put halt to its rate hike cycle and kept the repo […]

CII Chief’s 8-Point Agenda On Growth

June 2, 2023 4:35 pm

The Confederation of Indian Industry (CII) president, R Dinesh, recommended a few measures to achieve a sustainable growth of over 7.5%. He appreciated the Centre’s “pragmatic and transformational policies” and laid emphasis on “building trust” while announcing Quality Mission 2.0. Some of CII’s top action goals for the upcoming year included livelihood businesses, tourism, wellness, […]

Auditor Deloitte Flags 3 Transactions Of Adani Ports

May 31, 2023 5:01 pm

The auditing firm Deloitte offered a qualified opinion on the financial statements of Adani Ports & Special Economic Zone and highlighted three transactions, including recovery from a contractor mentioned in the Hindenburg report.  Deloitte Haskins & Sells LLP noted transactions with three entities in the auditors’ report on the audit of the fourth quarter and […]

RBI Among Top Five Gold Buyers 

May 3, 2023 11:19 am

The Reserve Bank of India (RBI) has become one of the top five gold buyers in the March quarter, according to bullion market experts. As central banks look to diversify their reserves amid economic uncertainties, the RBI has increased its gold reserves to just under 800 tonnes.  The bank acquired about 10 tonnes of gold […]

India Elected To Two UN Boards; Four-Year StatCom Term Starts 2024

April 6, 2023 11:55 am

In a significant victory, India was elected to the UN Statistical Commission (StatCom) for a four-year period in a “competitive” election. It should be mentioned here that India was a member of the Statistical Commission last in 2004 and the country is returning to the UN agency after a gap of two decades. Meanwhile, South […]

Are Trade Barriers and Tariffs on the Way Out? Asks Vinay Maloo

March 19, 2023 11:37 am

The Vinay Maloo entrepreneur has an optimistic view of the global market and is confident that things will improve. As the world economy is about to change due to globalization. Many entrepreneurs and business leaders are looking at the future optimistically.  Most Successful Entrepreneurs 2023: One of these few is Vinay Maloo , a successful […]

Startups Incorporated Till March 2024 To Get Tax Benefits

February 1, 2023 7:51 pm

Central government proposed to extend income tax benefits to startups incorporated till March 2024. Finance Minister Nirmala Sitharaman said that the government proposes to increase the benefit of carrying forward losses for startups to 10 years. Sitharaman said ‘I propose to extend the date of incorporation for income tax benefits to startups from March 31, […]

Union Budget 2023: New Tax Regime for Individuals

February 1, 2023 6:46 pm

 Finance Minister Nirmala Sitharaman made five significant announcements regarding personal income tax to help the hard-working middle class. Although the new tax system would be the default, taxpayers could choose the previous one instead. In the new tax system, Sitharaman suggested increasing the rebate cap from Rs. 5 lakh to Rs. 7 lakh. Therefore, up […]

India Unveils Budget 2023 With Tax Reforms And Increased Spending

February 1, 2023 6:31 pm

The Indian government presented its Union Budget 2023 on Thursday, with Finance Minister Nirmala Sitharaman announcing significant changes to the income tax regime and increased allocations for health, education, and rural projects. The budget aims to reduce the fiscal deficit while supporting an economy affected by the global slowdown. In a move aimed at providing […]

Economy Regained What Was Lost To Covid: Survey

January 31, 2023 6:01 pm

Finance Minister Nirmala Sitharaman tabled the Economic Survey 2022–23 in the Lok Sabha on Tuesday.    According to the Economic Survey, the economy has nearly recovered what was lost, restarted what had stalled, and re-energized what had slowed during the pandemic.  India is the third-largest economy in the world in PPP (purchasing power parity) terms, the […]

Adani Stocks See Mixed Trends In Early Trade

January 30, 2023 11:37 am

Shares of Adani group companies witnessed mixed trends in early trade on Monday, with flagship Adani Enterprises surging 10 per cent even as most of the group firms fell, a day after it released a 413-page response to allegations of wrongdoing brought by a United States-based short seller, Hindenburg Research. Four of the Adani Group […]

Gold Touches All-Time High At Rs 57,000/ 10 gms

January 25, 2023 3:11 pm

Indian gold hit a fresh all-time high on Tuesday, tracking gains in overseas markets and a depreciation in the rupee currency, but the surge dampened demand in the world’s second biggest consumer of the precious metal, dealers said. Domestic gold futures rose to Rs 57,099 ($699.19) per 10 grams, up nearly 4% so far in […]

Adani Believes India Has Arrived, Has Potential To Create 100 More Adani Groups

January 9, 2023 2:08 pm

Adani Group Chairman Gautam Adani visited the Palanpur Vidyamandir in Gujarat’s Banaskantha district and shared with students the memories of his early days of struggle and the learnings. Addressing the celebrations of 75 years of Vidyamandir Trust on Sunday, Adani said the trading done by his father just through oral commitments, which he claimed never […]

Google’s Pichai Hails India As Guiding Star Of Digital Economy

December 21, 2022 11:55 am

Google and Alphabet CEO Sundar Pichai holds that India can be an example of creating open stacks using technologies such as the UPI and Aadhaar. He was speaking at a “Google For India 2022” event in the capital on Tuesday.  “Look at what India has accomplished with the UPI, Aadhaar, and the payments stack, and […]

RIL To De-Merge Fin Services

October 22, 2022 5:44 pm

The board of directors of Mukesh Ambani-led Reliance Industries Limited approved the demerger of its financial services undertaking into Reliance Strategic Investments Limited (RSIL), to be renamed Jio Financial Services Limited (JFSL). RBI-registered non-deposit-taking systemically important NBFC, RSIL is currently a wholly-owned subsidiary of RIL. Jio Financial Services Ltd will be listed separately on the […]

Reliance Retail Presents Azorte, Premium Fashion And Lifestyle Store

September 29, 2022 7:36 pm

With the opening of it’s first store, the 18,000 square feet house of brands with a  curated collection of at 1 MG-Lido Mall, MG Road, Bengaluru. Reliance retail has presented AZORTE to the world. Akhilesh Prasad, CEO, Fashion and Lifestyle – Reliance Retail, said, “AZORTE offers wardrobe must-haves for the fashion-forward customers of new India. […]

Price Rise Affecting Traditional Saving Habits Of Middle Class Indians

September 29, 2022 4:33 pm

As per figures for the last fiscal year ended March 31, the rate at which Indians used to save has fallen to the lowest level in the last five years. The chief reason could be that while on one hand Indians bought heavily after the Covid pandemic and on the other hand inflation has affected […]