On Wednesday, the International Monetary Fund (IMF) said that India’s digital cash transfer scheme and several other social welfare programs are a ‘logistical marvel’. While addressing a Fiscal Monitor press conference, Paolo Mauro, Deputy Director of the Fiscal Affairs of India, asserted that there is a lot to learn from India. “From India, there is … Read more
In another sign of the surging Indian economy, the country has registered the highest-ever GST revenue collection in the just concluded month of April as it breached the coveted milestone of ₹2 lakh crore. As per the latest official data released by the ministry of Finance, the GST revenue collection for April 2024 stands at ₹2.10 lakh … Read more
On Monday (29th April), the Uttarakhand government informed the Supreme Court that it has revoked licences for 14 products offered by Baba Ramdev’s Patanjali Ayurved and Divya Pharmacy. The declaration included an apology from the State Licencing Authority (SLA) and a commitment that it would not perform any deliberate or willful act that would violate any Supreme Court orders. … Read more
On Thursday, the International Monetary Fund (IMF) lauded India as “a bright spot in a dark horizon” owing to India’s fast-growing economy even in challenging times. India, according to IMF Managing Director Kristalina Georgieva, deserves to be called a bright spot on this otherwise dark horizon because it has been a fast-growing economy even during these difficult times. … Read more
Today India as a nation-state is looking upwards, there is a positive mood, and the economy is moving Northwards. Stock markets are good and GDP growth is getting a thumbs up from economists and rating organizations across the world. We have a very healthy FOREX reserve. We have done a great job in IT, ITES, like BPO … Read more
State Bank of India (SBI), India’s largest lender, reported its highest-ever quarterly profit in the second quarter. The bank’s net profit increased 74% year on year for the quarter that ended on September 30, as core income increased and bad loan provisions decreased as the non-performing assets (NPA) ratio dropped. The net profit for the quarter was Rs … Read more
Oxfam India, a charitable organisation that supposedly fights against inequality in the country, has stirred the hornet’s nest with its outlandish claims about the Goods and Services Tax (GST) collection. In its report published on Saturday (January 15), Oxfam India claimed that indirect taxes are being taken disproportionately from the poor and the middle class as compared … Read more
As part of the Local for Vocal initiative, India is making a strong course correction in the toy manufacturing ecosystem. The country’s massive toy demand was till recent years met mainly through imports, largely from neighbouring China. India’s toy imports from China have reduced by an estimated 70 per cent over the recent years. Policy … Read more
Inflation, or “Mehengai,” is a term that often sends shivers down the spine of any economy, especially when it skyrockets. High inflation rates can strain both the pockets and patience of citizens. So, it’s pretty impressive when a leader manages to keep it under wraps. This is the tale of Prime Minister Narendra Modi, whose … Read more
In yet another strong regulatory action, the Reserve Bank of India (RBI) on Wednesday directed private sector bank Kotak Mahindra Bank to cease and desist from onboarding of new customers through its online and mobile banking channels with immediate effect. Additionally, the RBI also ordered the bank to stop issuing any fresh credit card. However, the RBI … Read more