The number of micro, small and medium enterprises (MSMEs) with Goods and Services Tax (GST) registration is set to rise after the Central Board of Indirect Taxes and Customs (CBIC) asked its officials to relax scrutiny for such businesses, according to two people aware of the development. MSMEs contribute around 30% of India’s GDP. CBIC’s move […]
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The report submitted to the 16th Finance Commission revealed that 18 districts have a growth rate less than 0.8x of the GSDP expansion rate and per capita income below average state income. Only seven out of 36 districts in Maharashtra contribute 54% of the gross State domestic product (GSDP), which stood at Rs 45 lakh […]
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The gross FDI — the money ploughed into India by overseas companies — rose by 13.7% to $81 billion in 2024-25 from $71.3 billion the previous year. The net foreign direct investment into India sunk 96% to $0.4 billion in financial year 2024-25 amid increased repatriation by foreign companies and outward investment by Indian firms, […]
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India and UK agreed on a free trade pact that gives British firms access to Federal Government contracts in select sectors – covering goods, services and construction – on a reciprocal basis. India is opening up a chunk of its protected Government procurement market to foreign firms, including the U.S, two Government sources said, in […]
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China’s Government subsidies, aimed at boosting domestic consumption, have spurred a surge in digital product sales, generating approximately $20 billion in just four months. Over 48 million consumers participated, purchasing 51.48 million products. This initiative has led to a significant increase in retail sales of communication appliances and a shift towards higher-end smartphones. The Chinese […]
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Is the Reserve Bank of India supposed to make profits? RBI’s main job is not to make profits but to keep the economy stable. Its goal is to make sure that prices of everyday items don’t rise too fast and that borrowing rates and exchange rates stay steady without wild swings, while still reflecting demand […]
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RBI is examining shareholding norms and licensing rules for banks, as part of a broader review, Governor, Sanjay Malhotra said. India’s central bank is examining shareholding norms and licensing rules for banks as part of a broader review, Governor Sanjay Malhotra told the Times of India in an interview, less than a month after Japanese […]
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Called the world’s largest entrepreneurial train journey, the Jagriti Yatra is a special train in India that is aimed to grow the community of entrepreneurs in India by immersing them in India of small towns and villages. This year, the yatra will start on November 7 and run till November 22. Once a year, a […]
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Of the 11.08 lakh Schengen visa applications filed from India, 1,65,266 were turned down, a rejection rate of nearly 15%. When Indian travelers dreamt of a European escape in 2024, over 1.65 lakhs of them were met with an expensive disappointment. According to data from the European Commission, Indian applicants lost Rs.136 crores in non-refundable visa fees […]
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The prospects of bumper rabi harvest and the outlook of an above normal monsoon would further strengthen rural consumption and is also likely to keep food inflation in check. Amid uncertainties in the global economy due to tariff wars and weak consumer sentiments, the Indian economy is exhibiting resilience with various high frequency indicators of […]
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