Economy
At $129 bn, India top recipient of remittances this year: World Bank
The growth rate of remittances this year is estimated to be 5.8 per cent, compared to 1.2 per cent registered in 2023
 "At $129 bn, India top recipient of remittances this year: World Bank")
Investments, consumption to drive growth in FY26 to 6.6%: India Ratings
The rating agency also noted that inflation is likely to decline to 4.3 per cent in FY26 from 4.8 per cent projected by the central bank for the current fiscal
 "Investments, consumption to drive growth in FY26 to 6.6%: India Ratings")
GoM proposes GST cuts for health insurance, exemption for term policies
Also recommends reduction of rate on individual health covers from 18% to 5%
 "GoM proposes GST cuts for health insurance, exemption for term policies")
Safari Retreats case on GST Council table, SC verdict may be reversed
The SC judgment on the expression "plant or machinery" appears to defeat the intention of the GST Council, the law committee observed
 "Safari Retreats case on GST Council table, SC verdict may be reversed")
Govt likely to target FY26 fiscal deficit at 4.4% of GDP to support growth
Looks to ensure enough financial headroom amid global headwinds
 "Govt likely to target FY26 fiscal deficit at 4.4% of GDP to support growth")
India replaces Italy to bag 10th spot in US trade deficit rankings in 2024
The Trump administration has earmarked clearly three areas on the basis of which it will determine trade negotiations. One clearly is to look at ways to reducing its trade deficit with some countries
 "India replaces Italy to bag 10th spot in US trade deficit rankings in 2024")
Net direct tax collection grew 16.45% to Rs 15.82 trn till Dec 17 of FY25
Gross direct collections during the period grew 20.3 per cent to Rs 19.2 trillion, with refunds increasing 42.5 per cent to Rs 3.4 trillion
 "Net direct tax collection grew 16.45% to Rs 15.82 trn till Dec 17 of FY25")
'India charges a lot': Donald Trump threatens 'reciprocal' tariffs
Trump's remarks on India, made just weeks after he pledged to increase tariffs on imports from Mexico, Canada, and China
 "'India charges a lot': Donald Trump threatens 'reciprocal' tariffs")
EPFO, ESIC subscribers may soon use claim money via e-wallets: Labour secy
We have started talks with bankers and also we are going to have a plan in place on how we can do this practically, the official said
 "EPFO, ESIC subscribers may soon use claim money via e-wallets: Labour secy")
Net direct tax collection rises 16.45% to Rs 15.82 trillion till Dec 17
Gross direct tax collection, which includes corporate, personal income tax and STT stood at over Rs 19.21 lakh crore, a 20.32 per cent growth over the collection in April 1-December 17, 2023
 "Net direct tax collection rises 16.45% to Rs 15.82 trillion till Dec 17")
Gem, jewellery exports drop 12.9% in Nov amid geopolitical tension: GJEPC
However, the plain gold jewellery exports grew 72.12 per cent to USD 652.81 in November as compared to USD 379.27 million in the same period of the previous year
 "Gem, jewellery exports drop 12.9% in Nov amid geopolitical tension: GJEPC")
India to grow 6.6% in FY26, driven by investments, easing rates: Ind-Ra
The Indian economy has experienced a cyclical growth slowdown in the past three quarters, which it expects to reverse from the December quarter
 "India to grow 6.6% in FY26, driven by investments, easing rates: Ind-Ra")
High interest rates deterrent for MSME exporters; working with FinMin: DGFT
Sarangi said there are many studies which suggest that very high collateral demand by financial institutions is a big deterrent for MSMEs to access institutional finance
 "High interest rates deterrent for MSME exporters; working with FinMin: DGFT")
RBI dials down use of NDFs to fight dollar, balance rupee stability
The Reserve Bank of India has recently let some short dollar positions in the overseas market expire without rolling into new contracts
 "RBI dials down use of NDFs to fight dollar, balance rupee stability")
EPFO deadline for employers to file wage details extended till Jan 31
An online facility was made available by EPFO for submitting applications for validation of options/joint options for pension on higher wages, a labour ministry statement said
 "EPFO deadline for employers to file wage details extended till Jan 31")
India to brace up in future to deal with potential duty measures: Official
Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said that countries like the US and the European Union (EU) are trying to boost their domestic manufacturing through such measures
 "India to brace up in future to deal with potential duty measures: Official")
India charges lot of tariff: Trump as he threatens to impose reciprocal tax
He made the remarks while responding to a question on a potential trade agreement with China. Trump said India and Brazil were among countries that impose high tariffs on certain US products
Embedding food systems into policy: How cities can restore ecosystems
By embedding food systems into urban governance, cities can influence local food environments and broader supply chains, paving the way for a more resilient and sustainable system
 "Embedding food systems into policy: How cities can restore ecosystems")
Revealing the 100X strategy: The ultimate instrument of wealth creation
Most Indians are wary of investing in equity markets because of its intangible nature, but this is the asset class that can ensure the maximum returns over a period of time
 "Revealing the 100X strategy: The ultimate instrument of wealth creation")
AIFs can play critical role in job creation: Former Sebi chief Sinha
The career bureaucrat who served as Sebi chairman for 6 years said there are other challenges confronting the economy as well, but singled out jobs as a critical function where AIFs can be of help
 "AIFs can play critical role in job creation: Former Sebi chief Sinha")
