Economy News

Global economy staring at two recessions in same decade, first time in 80 years: World Bank report

Global growth is slowing sharply due to inflation, higher interest rates, reduced investment, and disruptions caused by Russia's invasion of Ukraine, said the World Bank's latest Global Economic Prospects report.

Jan 11, 2023

Budget 2023-24: Assocham survey shows more incentives sought by manufacturing units, tax cuts

The survey, covering more than 400 people from 40 plus cities across the country, pointed towards the industry being optimistic about economic recovery

Jan 11, 2023

'Make in India' TV shipments grow 33% to reach 5 million units; Dixon leads [details]

The India TV market grew exponentially in the festive season last year and 'Make in India' TV shipments grew 33 per cent (on-quarter) in the July-September period to reach 5 million units.

Jan 10, 2023

PM SVANidhi scheme: No documents required as PM gives guarantee to 'street vendor' loans

More than 2,300 street vendors will get loan under PM SVANidhi scheme. Under it, there is no need to submit any document as guarantee

Jan 9, 2023

Experts predict India's emergence as 'third pole', despite GDP growth worries [details]

If any major middle-income country is truly outperforming in the coming decades, it's the world's soon-to-be third largest economy (and its largest democracy), India, Eurasia Group said in a report.

Jan 7, 2023

Dubai launches its economic agenda 'D33' for the next 10 years; sets ambitious goals [details]

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched the Dubai Economic Agenda 'D33' with the ambitious goals of doubling the size of Dubai's economy over the next decade and consolidating its position among the top three global cities.

Jan 5, 2023

Reliance Industries (RIL) Chairman Mukesh Ambani

Despite economic headwinds, India to become a $40 trillion economy by 2047, says Mukesh Ambani

State Bank of India, on September, suggested that India will become the third-largest economy by 2029

Jan 2, 2023

'Open court hearing on Oct 12', SC on SEBI's review petition against RIL

Demonetisation: SC affirms Centre's action in 2016

Pronouncing the majority judgment, Justice Gavai said that the decision-making process cannot be faulted merely because the proposal emanated from the Central government.

Jan 2, 2023

Forex reserves fall by $691 million to $562.808 billion as of Dec 23

India's foreign exchange reserves fell by $691 million to $562.808 billion as on December 23, while Indians' overseas financial assets fell $43.9 bn in July-Sep period

Dec 31, 2022

Goldman Sachs joins other giants to cut 4K jobs, cites global economy's downturn

The boss of Goldman Sachs has told staff that he will make job cuts early next month, as the US investment bank seeks to improve its profits amid concerns over the global economy, the media reported

Dec 30, 2022

Income tax exemption limit likely to be enhanced to Rs 5 lakh in 2023-24 budget

The government is likely to enhance the income tax exemption limit to Rs 5 lakh from the existing Rs 2.5 lakh in the forthcoming budget for 2023-24, sources privy to developments said

Dec 29, 2022

Credit offtake in elevated levels: CARE Ratings

The credit offtake in India remained at elevated levels of 17.5 per cent year-on-year (YoY), reporting robust growth for the fortnight ended December 2, said credit rating agency CARE Ratings.

Dec 27, 2022

Financial literacy poor across urban, rural population in country: RBI survey

A general perception is that most of the rural population is not well-versed in digital banking in India.

Dec 27, 2022

Comptroller and Auditor General (CAG) of India

CAG report discloses irregularities in corporation tax assessments of certain 'high value' cases

The CAG recommended application of incorrect rates of tax and surcharge, errors in levy of interest, excess or irregular refunds etc. point to weaknesses in the internal controls in the ITD, which need to be addressed.

Dec 22, 2022

GST Council 48th Meeting: Small traders allowed on e-commerce platforms; Biofuel now in 5% slab

The GST Council approved the amendments allowing unregistered suppliers and composition taxpayers to make intra-state supply of goods through E-Commerce Operators (ECOs)

Dec 17, 2022

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