The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman on 23 July presented the Union Budget 2024-25 in Parliament. Finance Minister Nirmala Sitharaman made an important announcement regarding the simplification of the capital gains tax rates. The new Read More …
Category: Economy
National Income Tax Day 2024
National Income Tax Day is celebrated on 24th July. The day marks a significant milestone in India’s fiscal history. This day commemorates the introduction of income tax in India by Sir James Wilson in 1860. Later, the department decided to Read More …
India’s Per Capita Income Projected To Reach Rs 14.9 Lakh By 2047
According to a presentation made by Chief Economic Adviser V Anantha Nageswaran, in 2047, the country’s per capita income is projected to reach Rs 14.9 lakh. The per capita income is currently Rs 2.12 lakh in 2023-24. In dollar terms, Read More …
Economic Survey 2023-24: India’s real GDP is projected to grow between 6.5–7% in 2024-25
The Economic Survey 2023-24, tabled by the Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman in Parliament on 22 July 2024. India’s real GDP is projected to grow between 6.5–7 per cent in 2024-25. The Indian economy recovered Read More …
Economic Survey 2023-24: Agri sector provides livelihood support to 42.3% of the population
Economic Survey says that the Indian agriculture sector provides livelihood support to about 42.3 per cent of the population and has a share of 18.2 per cent in the country’s GDP at current prices. It is estimated that for every Read More …
Economic Survey 2023-24: Expenditure on social services increased to to 7.8 % of GDP in 2023-24
The Economic Survey 2023-24, tabled by the Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman in Parliament on 22 July 2024. The expenditure on social services has increased from 6.7 % of GDP in 2017-18 to 7.8 % Read More …
Economic Survey 2023-24 addresses mental health at the economic level for the first time ever
For the first time ever, the Economic Survey 2023-24 talks extensively about mental health, its significance and implications on policy recommendations. The Survey notes that as per the National Mental Health Survey (NMHS) 2015-16, 10.6% adults in India suffered from Read More …
Economic Survey 2023-24: Services sector accounts for 55% of the economy
The Economic Survey 2023-24, tabled by the Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman in Parliament on 22 July 2024. The services sector continues to be a significant contributor to India’s growth, accounting for about 55 Read More …
National Time Release Study (NTRS) 2024
Recently, the Chairman of the Central Board of Indirect Taxes and Customs (CBIC), along with other Members of the Board, released the National Time Release Study (NTRS) 2024 report.
Outward remittances fells due to increase in tax collection at source (TCS)
Outward remittances under the Reserve Bank of India’s (RBI’s) Liberalised Remittance Scheme (LRS) declined by over 16 per cent in May 2024 from the year-ago period due to the base effect.
Neutral or natural rate of interest
A Reserve Bank of India (RBI) study has estimated the neutral or natural rate of interest in India between 1.4 per cent and 1.9 per cent for Q4FY24.
SEBI proposes new asset class for high risk takers
Indian market regulator SEBI has proposed a new asset class that could bridge the the gap between Mutual Funds and Portfolio Management Services (MF-PMS) in terms of flexibility in portfolio construction. Key features The new asset class would be introduced Read More …
Gevra and Kusmunda coal mines secured 2nd and 4th spot in world’s 10 largest coal mines
Chhattisgarh-based Coal India subsidiary South Eastern Coalfields Limited’s (SECL) Gevra and Kusmunda coal mines have secured the 2nd and 4th spot in the list of the world’s 10 largest coal mines released by WorldAtlas.com.
Staff-level agreement (SLA)
Pakistan and the International Monetary Fund (IMF) reached an agreement for a $7 billion, 37-month loan program with tough measures such as raising tax on farm income. The staff-level agreement (SLA) caps negotiations that started in May 2024 after Pakistan Read More …
Positive rate of inflation in June 2024
India’s wholesale price index (WPI)-based inflation for the month of June 2024 accelerated to a 16-month high of 3.36 per cent.