Page 17 - Indian Economy

Knitting the tax net: Special CBDT unit to spot top 5K cases of unpaid tax

As on April 1 this year, the arrears demand has increased to Rs 43 trillion, from Rs 24 trillion on April 1, 2023

Rs 1.82 trillion GST from mobile phones 5 times what PLI allocated

ICEA, which provided the GST data, projects that GST collections from mobile devices between FY21 and FY26 are expected to reach Rs 3.09 trillion

India to become third largest economy in two years, says V-P Dhankhar

Asserting that India's rise is unstoppable, Vice President Jagdeep Dhankhar on Wednesday said the country will become the third largest economy in the world in two years. Addressing on the occasion of the 10th National Handloom Day, he expressed confidence that the optimal utilisation will take place to promote handlooms, the need of the hour, the need of the country, and the need of the planet, if we think in terms of climate change. The "Be Vocal for Local" clarion call given by the Prime Minister has economic freedom at this core, with handloom products being one of its key elements, said the Vice President. Strongly advocating economic nationalism, Dhankhar said it is fundamental to the country's "spinal economic growth" and will lead to three key impacts including foreign exchange savings, employment generation and boosting entrepreneurship. "I want everyone to respect national interest. Can we sacrifice economic nationalism merely for fiscal gain? I have no doubt; no fiscal .

ICICI Bank fostering compliance, strong risk culture: CEO Sandeep Bakhshi

He also added that the bank is seeing exciting opportunities arising from the Indian economy and its global linkages and is committed to supporting the economy in its transformative journey

GenAI adoption to add extra $675 bn to India's economy by 2038: Accenture

The research also revealed around 31% of working hours in India will be automated

Vision India 2047: Revolutionising the civil service for a new era

As India grapples with its unique set of issues and embarks on its journey to become a developed country, comprehensive reforms in the civil service are increasingly imperative

Indian economy to grow at 7-7.2% in current fiscal year: Deloitte

India's economy is expected to grow at 7-7.2 per cent in the current fiscal year driven by robust economic fundamentals and continuity in domestic policy reforms, Deloitte India said on Monday. The August update of Deloitte's India Economic Outlook said several initiatives in the Union Budget 2024-25 toward improving agriculture productivity, creating jobs for the youth, and in manufacturing and addressing the challenge of access to finance for micro, small, and medium enterprises (MSMEs), would help improve supply-side demand, curb inflation, and prop up consumer spending, especially in rural areas. Deloitte India Economist Rumki Majumdar said, India will witness robust growth in the second half after a period of uncertainty in the first six months of the year. "Key contributing factors include the continuity in domestic policy reforms, reduced uncertainties in the US post-elections, and more synchronous global growth within a low inflation regime. "Additionally, improved global .

Viksit Bharat needs a new paradigm: Reforming the thinking behind policy

The time has come to imagine the contours of a new paradigm of progress

Growth challenges

Global prospects have worsened in recent years

Junk papers share of total bonds value at 20-month high in July

From December 2022 till June 2024, non-investment grade bonds accounted for less than five per cent of the value of total issuance

Centre unlikely to extend Mahila Samman Savings Certificate scheme

Inflows into small savings schemes may level off

India's family-owned biz projected to drive 85% of GDP by 2047: McKinsey

From 2017 to 2022, FOBs outperformed non-family-owned businesses, reporting approximately 2.3% higher revenue growth

Discounts by OEMs, EMPS deadline rev up electric vehicle sales in July

Sales in July highlight a positive outlook for the remainder of the year, reflecting a growing consumer interest and the impact of strategic market incentives, sector experts said

Expanding GST: Focus on land and real estate

It will give an impetus to factor market reforms, which are essential to drive India's growth

Myth or fact: Panellists debate if India's tax base is too narrow

Bhalla, who was India's executive director at the International Monetary Fund, argued that the belief that only 1-2 per cent of the population pays taxes is unfounded

After FY26, fiscal deficit target will be a range: Finance Secy Somanathan

Path towards a reduction in the debt-GDP ratio will be announced later

'Nothing has structurally changed on either food or fertiliser subsidy'

Somanathan responded to a range of queries arising from the Budget and explained the government's thinking, on employment schemes, capital gains indexation and fiscal roadmap and many more

At 4%, India's core sector growth slowest in 20 months: Govt data

Slowdown reflects a high base and reduced electricity demand, down from 6.4% in May and 8.4% last year

Goyal shows hope, says right steps would make India $55 trn economy by 2047

Commerce and Industry Minister Piyush Goyal on Wednesday expressed hope that steps such as focus on self-sufficiency, technology, stronger currency and fundamentals would help India become a USD 55-trillion economy by 2047. He said that the government is also focusing on areas such as moving from oil to electric vehicles and bringing quality in the manufacturing. He was replying to a question about feasibility to reach USD 55 trillion economy by 2047, which is the theme of K V Subramanian's book Bharat@100: Envisioning Tomorrow's Economic Powerhouse. "All this will collectively help us and a stronger currency...stronger fundamentals of economy from where we are today and hopefully will help us to (reach) USD 55 trillion economy," he said. Goyal added that EV focus, and reduction in imports of goods, oil seeds, rubber and pulses would help further strengthen the domestic currency.

Coal India Q1 FY25 results: Net profit up 4.1% at Rs 10,959 crore

5 of Coal India's 7 subsidiaries met production targets in Q1, but none met offtake goals