The Reserve Bank of India (RBI) has put to rest the debate over a proposal to ignore the food price spirals, while taking policy rate decisions. RBI Governor, Mr. Shaktikanta Das is very candid in saying that the monetary policy committee cannot ignore the persistently high food prices, since it impacts the consumer the most […]
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India’s net direct tax collection, with refunds adjusted, grew 22.5% to Rs 6.93 trillion between April 1 and August 11 of FY25. In the same period last year, tax collection was at Rs 5.65 trillion, according to the Income-Tax (I-T) Department’s latest data released on Monday. Of the tax mop-up, personal income-tax (PIT) outpaced corporation tax. […]
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The second Special All-India Drive may be launched by all Central and State Tax administrations from August 16 to October 15, 2024, to detect suspicious or fake GSTINs. Central and State GST officers will launch a pan-India special two-month drive against fake registration beginning August 16, the CBIC said on Monday. This is the second […]
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In the use-based category, consumer durables output growth ebbed to a six-month low of 8.6% in June, while that of consumer non-durables growth declined to (-)1.4% from 2.5% in May. India’s factory output growth, as measured by the Index of Industrial Production (IIP), moderated to a five-month low of 4.2% in June from 6.2% in […]
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Favorable base, sequential decline in vegetable prices key reasons. Retail food inflation dropped sharply to a thirteen-month low to 5.42% in July, compared to 9.36% in June largely because of base effect, while prices of pulses and cereals prices continued to be at elevated levels. The consumer food price index (CFPI) rose by 2.81% sequentially […]
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High base effect, onset of monsoon among reasons for moderation in overall output growth, say experts. Pulled down by a high base effect despite a strong show from coal and electricity sectors, the country’s eight core industries output growth slid to a 20-month low at 4% in June. This latest reading — seen by some economists […]
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Thanks to lower expenditure and record transfer from RBI. Lower expenditure because of Model Code of Conduct and record transfer from the Reserve Bank of India helped restricting fiscal deficit to low of around 8% of the Budget Estimate during April-June quarter of Fiscal Year 2024-25, data released by the Controller General of Accounts (CGA) showed. The […]
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“Wilful defaulters or any entity with which a wilful defaulter is associated shall not be eligible for restructuring of credit facilities,” the RBI said The Reserve Bank of India has asked lenders to examine wilful defaulters in all Non-Performing Assets (NPA) accounts with an outstanding amount of Rs 25 lakh and above and said the […]
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Mutual funds are becoming the popular route for retail investors to participate in the capital markets with assets under management of the industry crossing ₹60 lakh crores. The Union Budget 2024-25 has changed capital gains taxes on financial assets. WHAT IS THE TAX REGIME FOR EQUITY-ORIENTED MF SCHEMES? As per income tax laws, any gain […]
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The most visible impact of this order will be seen in the Government buying of IT and other technology products. In an effort to further push the Make in India initiatives, the Government has tightened public procurement norms by excluding imported inputs, while calculating the local content in its purchase orders. In the latest revision […]
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