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The Global Trade Research Initiative (GTRI) said the USD 1.6 trillion would be about 48 per cent of India’s nominal GDP of USD 3.4 trillion for the fiscal year ending March 2023.
The facilitation fee of 0.3 per cent can generate around Rs 5,000 crore in 2023-24, said the study titled ’Charges for PPI-based UPI payments–The Deception’.
The central bank last month delivered a blowout 300-basis-point increase to 20 percent to rein in skyrocketing prices that were stoked by a weaker currency
EPFO had declared 8.1 percent as the rate of interest for 2021-22, which is the lowest in four decades. The last time the interest rate slipped to 8 percent was in 1977-78
India is one of the fastest-growing insurance markets in the world and forecast to be the sixth biggest by 2032. Total insurance premiums will grow on average by 14 percent annually in nominal local-currency terms over the next decade
Silicon Valley Bank, which was a key funding source of startups in the US, collapsed on March 10. This was followed by the failure of Signature Bank on March 12.
Supported by the gains from high services exports, the moderation in oil prices, and the recent fall in import-intensive consumption demand, India's current account deficit is estimated to fall in FY23 and FY24, providing a buffer to the rupee in uncertain times, Monthly Economic Review by the ministry said.
Point to point rate of inflation based on the CPI-AL (consumer price index for agricultural labourers) and CPI-RL (rural labourers) were at 5.59 per cent and 5.94 per cent, respectively in January 2023, the Ministry of Labour and Employment said.
In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary informed that 183 assessment orders were passed in 2021-22 and a demand of Rs 5,350 crore was raised under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
Ravindra Rao, CMT, EPAT VP-Head Commodity Research, Kotak Securities Ltd said the western banking crisis upended global markets, taking domestic gold prices to a record high, to above Rs 60,000 per 10 grams.
In volatile trading, Brent crude futures for May fell $2.07, or 2.8%, to $70.90 a barrel at 0950 GMT.
Central Goods and Service Tax (CGST) Delhi South Commissionerate conducted inspection at the registered premises of three bogus firms/company, namely M/s. NexGen Busicorp, M/s. XEL Informatics and M/s. GW Infotech Pvt., engaged in fake invoicing and circular trading, according to a statement.
The abrupt collapse of SVB this month roiled global financial markets and put authorities around the world on alert for signs of contagion
Economists said the cut was aimed at ensuring liquidity in the banking system to sustain the rapid pace of lending seen in January and February
The rupee declined to 82.80 to the U.S. dollar on Thursday, its lowest in about two weeks.
Goyal pointed out that US actions have spillover effects for the rest of the world
TS SINGH DEO, CHHATTISGARH HEALTH MINISTER, PLACES RURAL ECONOMY AT THE HEART OF THE BUDGET. SAYS THE NEXT ELECTION WILL BE FOUGHT UNDER BHAGEL
Total US debt would rise to nearly 110 percent of annual gross domestic product in 2033, a figure that rivals the peaks during the country's mobilisation for World War II
U.S. Federal Reserve Chair Jerome Powell’s comments this week on the likelihood that interest rates will need to be raised more than previously expected in response to recent strong data continued to weigh on oil and other risk assets because of the potential impact on economic and demand growth.
Powell’s comments set the stage for the Fed to revert to a half-point hike and put the central bank at odds with some of its peers which are preparing to halt their tightening campaign
The bailout will pave the way for more funding and set the bankrupt nation’s debt restructuring on a steadier path since last year’s default
The key objective of the programme, aligned with the India Semiconductor Mission (ISM), is to meet the significant and growing demand for skilled graduates in the electronics and embedded manufacturing sector in the country. It is open to all students, irrespective of age and they should have studied Mathematics and Physics in their Class 12 or equivalent.
Verma, Minister for MSMEs highlighted the crucial role played by the sector during the COVID-19 crisis.
The minister said that sectors which would help in promoting exports include manufactured goods, agri products, labour-intensive items, and high-quality products.
Spot gold was up 0.5% to $1,844.58 per ounce by 10:56 a.m. ET (1556 GMT) after hitting its highest since Feb. 15 earlier in the session. Prices have risen about 1.9% so far this week. U.S. gold futures rose similarly to $1,850.10
