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Economy

GST collection grows 9% to Rs 1.87 lakh crore in October

GST collection grows 9% to Rs 1.87 lakh crore in October

Sat, Nov 02, 2024

Gross GST collection grew 9 per cent to over Rs 1.87 lakh crore in October on higher revenues from domestic transactions.

IMF says India's GDP growth to moderate to 7% in 2024 and 6.5% in 2025

IMF says India's GDP growth to moderate to 7% in 2024 and 6.5% in 2025

Tue, Oct 22, 2024

India's GDP growth is likely to moderate from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025 because the pent-up demand accumulated during Covid has exhausted, as the economy reconnects with its potential, the International Monetary Fund (IMF) said on Tuesday.

India poised to be third largest global economy by 2030, rising population presents challenges: S&P

India poised to be third largest global economy by 2030, rising population presents challenges: S&P

Thu, Oct 17, 2024

India is poised to be the third largest global economy by 2030 but its rising population presents mounting challenges in basic service coverage and growing investment needs to maintain productivity, S&P Global Ratings said on Thursday.

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Good news for Indian economy! Sharp improvement in indicators witnessing a positive trend: Bernstein macro index

Good news for Indian economy! Sharp improvement in indicators witnessing a positive trend: Bernstein macro index

Mon, Nov 30, 2020

There has been an improvement in various indicators of manufacturing in Oct. IIP bounced back to positive territory in Sep while manufacturing PMI rose to 58.9 on Oct-19, the highest since 2008 implying strong expansion in manufacturing activity ahead. Service PMI too rebounded in Oct moving above 50 after 7 months. Eight core industries continue to improve on account of strength in coal production.

Covid-19 vaccine, FII inflows in India, PMI, sentiment, auto to GDP data - all Stock Market participants need to know now

Covid-19 vaccine, FII inflows in India, PMI, sentiment, auto to GDP data - all Stock Market participants need to know now

Mon, Nov 30, 2020

The coming week is holiday-shortened (markets closed on Monday) and participants will react to a list of important data and events thereafter. To start with, Indian Stock Markets will see their reaction to GDP numbers, which were announced on Friday after the market closed. On the data front, the auto sales numbers start pouring in from the beginning of the month. Besides, the Markit Manufacturing PMI and Services PMI data are scheduled for December 1 and December 3 respectively. Lastly, the RBI’s MPC will announce its stance on key rates on December 4.

Apr-Sep FDI inflow at $30B; Mauritius, Singapore top sources

Apr-Sep FDI inflow at $30B; Mauritius, Singapore top sources

Sat, Nov 28, 2020

With India being an attractive destination for foreign funds despite the pandemic, FDI inflow rose 15 per cent during the April-September period to $30 billion.

India GDP: Economy comes back faster than expected in Q2; contraction at 7.5 pc

India GDP: Economy comes back faster than expected in Q2; contraction at 7.5 pc

Fri, Nov 27, 2020

India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand.

Indian economy probably picked up in September quarter as hopes grow for vaccine

Fri, Nov 27, 2020

Indian economy is likely to have shown signs of a pick-up in the quarter to September after a record contraction the previous quarter, and is expected to recover early next year on hopes of better consumer demand fed by progress on coronavirus vaccines.

Over 40 lakh subscribers enrolled under APY so far this fiscal

Over 40 lakh subscribers enrolled under APY so far this fiscal

Wed, Nov 25, 2020

More than 40 lakh new subscribers have been enrolled under the Atal Pension Yojana (APY), government's pension scheme, so far this fiscal year, said a release on Tuesday

New rules likely to sign up for GST; Know how they would impact businesses!

New rules likely to sign up for GST; Know how they would impact businesses!

Mon, Nov 23, 2020

A panel of officials attached to the GST (Goods and Services Tax) Council has proposed an overhaul of the GST registration process and suspension of the registration of businesses identified as risky. The proposals are among the set of proposals before the GST Council

Fake invoices: GST Council's law panel suggests online registration with live photo, biometrics

Fake invoices: GST Council's law panel suggests online registration with live photo, biometrics

Mon, Nov 23, 2020

The GST Council's law committee has suggested that a fresh registrant must go for compulsory physical verification and personal identification in case opting for non-Aadhaar authentication based registration process and he or she does not have income-tax return supported adequate financial capability

US economic growth outlook dims on Covid-19 waves, weaker stimulus

US economic growth outlook dims on Covid-19 waves, weaker stimulus

Sat, Nov 21, 2020

The US economy could see slower and even negative growth once again in the first quarter of 2021 due to soaring Covid-19 infections, newly imposed restrictions as well as smaller and slow stimulus measures, according to multiple investment research institutions.

Modi government sanctions over 7.8 lakh loans under PM SVANidhi scheme

Modi government sanctions over 7.8 lakh loans under PM SVANidhi scheme

Thu, Nov 19, 2020

Modi government's special micro-credit facility PM SVANidhi-Pradhan Mantri Street Vendor’s Atma-Nirbhar Nidhi launched to help small vendors hit due to the Covid 19 onslaught, has disbursed 788,438 loans out of the 1,434,436 that have been sanctioned, according to a government release. The government has received 2,733,497 applications

Haryana: Bhupinder Singh Hooda, Kumari Selja demand compensation for crop damage by hailstorm

Tue, Nov 17, 2020

Former Haryana chief minister Bhupinder Singh Hooda and state Congress president Kumari Selja on Tuesday demanded compensation for farmers in the state who suffered losses due to hailstorm two days ago.

India rate cuts bets fall as recovery gains hold, inflation stays high

India rate cuts bets fall as recovery gains hold, inflation stays high

Sun, Nov 15, 2020

Negative real rates in India and recovering growth alongside high inflation suggest its central bank has little room for more monetary stimulus, but policy is likely to stay accommodative, economists and analysts said.

Industry bodies, experts to submit ideas on Budget 2021 via e-mail: Finance Ministry

Industry bodies, experts to submit ideas on Budget 2021 via e-mail: Finance Ministry

Fri, Nov 13, 2020

The finance ministry on Friday said a dedicated e-mail ID would be created to receive suggestions from industry bodies and experts on the Union Budget 2021-22, instead of physical pre-Budget consultations that have been happening over the years

Expert views: October retail inflation remained over 7% for second straight month

Thu, Nov 12, 2020

Retail inflation remained above 7% in October for a second straight month as vegetable prices stayed at elevated levels, worrying policymakers, who are struggling to pull Asia`s third largest economy from a deep slump.

FM announces Rs 18,000 cr additional outlay for PMAY-Urban

FM announces Rs 18,000 cr additional outlay for PMAY-Urban

Thu, Nov 12, 2020

The Centre will allocate Rs 18,000 crore more to the Pradhan Mantri Awas Yojana (PMAY) - Urban for building houses for middle income and economically weaker sections of the country

Big reveal! India has entered recession for first time; GDP to contract 8.6 pc in Q2, says RBI official

Big reveal! India has entered recession for first time; GDP to contract 8.6 pc in Q2, says RBI official

Thu, Nov 12, 2020

The GDP is likely to contract by 8.6 per cent for the July-September period, which means India will enter into a recession for the first time in history in the first half of this fiscal, an RBI official has revealed. This comes on the back of two successive quarters of negative growth due to the COVID-19 pandemic.

Government makes e-invoicing mandatory for businesses with Rs 100 cr turnover: What it means

Government makes e-invoicing mandatory for businesses with Rs 100 cr turnover: What it means

Thu, Nov 12, 2020

The government has notified mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover of over Rs 100 crore with effect from January 1, 2021.

Govt notifies mandatory e-invoicing by biz with Rs 100 cr turnover from Jan 1

Govt notifies mandatory e-invoicing by biz with Rs 100 cr turnover from Jan 1

Thu, Nov 12, 2020

The government has notified mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover over Rs 100 crore with effect from January 1, 2021

Why Prime Minister Narendra Modi thinks India is the place to be for investors

Why Prime Minister Narendra Modi thinks India is the place to be for investors

Fri, Nov 06, 2020

Prime Minister Narendra Modi on Thursday wooed global investors by showcasing the recent agriculture and labour reforms and faster-than-anticipated reflating of the economy and asserted that the government will do whatever it takes to make India the engine of global growth resurgence.

GST collection, power consumption show recovery: Ex-RBI chief

GST collection, power consumption show recovery: Ex-RBI chief

Fri, Nov 06, 2020

Former governor of the Reserve Bank Of India (RBI) C Rangarajan on Thursday said the decline in the growth of the economy triggered by COVID-19 was like a coma that stays for a short period

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