Category: Economy

The Department of Telecommunications (DoT) is exploring the deployment of drones and tethered balloons to re-establish 5G services in the wake of emergencies and natural disasters that disrupt standard telecommunications. An informed official has disclosed that the DoT plans to conduct trials in the near future to assess the effectiveness of this strategy, with the […]

S&P Global Ratings has shifted India’s economic forecast to a positive outlook from a stable one. The agency’s specialists have indicated that the country’s fiscal performance and economic expansion will be crucial determinants for a potential elevation in its credit rating over the forthcoming two-year period. Andrew Wood, the director at S&P Global Ratings for […]

India’s economic growth accelerated to 8.2% in the fiscal year 2024, propelled by a stronger-than-anticipated 7.8% increase in the March quarter, primarily driven by solid manufacturing performance. The provisional figures released on Friday highlight India’s position as the fastest-growing major economy globally. Marking the most substantial annual expansion since FY17, aside from the 9.7% post-Covid […]

India’s foreign exchange reserves have seen a reduction of $2 billion, bringing the total down to $646.67 billion as of May 24, according to the Reserve Bank of India’s recent Friday report. In contrast, the previous week saw a significant increase in forex reserves by $4.54 billion, setting a new record high of $648.7 billion […]

S&P Global Ratings raised India’s sovereign rating outlook to ‘positive’ from ‘stable’ while retaining the rating at ‘BBB-’, saying that the country’s robust economic expansion was having a constructive impact on its credit metrics and growth momentum over the next two to three years. India’s marathon national election lasting six weeks to be counted on […]

The cash deposit limit in savings accounts refers to the maximum amount of cash that an individual can deposit within a specified period without attracting the attention of tax authorities. This limit is set by income tax regulations to monitor and regulate the flow of cash transactions, curbing the potential for money laundering, tax evasion, […]

The income tax department has notified the cost inflation index (CII) for FY25, relevant to assessment year 2025-26, at 363, which is higher than 348 for FY24, and 331 for FY23. The CII is a tool used to measure inflation for computing long-term capital gains on the sale of assets, including immovable property, securities and […]

The commerce ministry has prepared a draft comprehensive strategy for negotiating future Free Trade Agreements (FTAs) and it will be circulated to certain key departments soon to get their feedback, an official said. The draft strategy in the form of a Standard Operating Procedure (SOP) was recently discussed in a meeting involving former commerce secretaries, […]

India’s digital economy is growing at 2.8% per annum and is expected to reach $1 trillion by 2027-28. The IT Minister said that the value of the India AI mission will be doubled to Rs 20,000 crore from Rs 10,000 crore. The Government earlier expected India to reach the $1 trillion-mark by 2026-27 but the target has been […]