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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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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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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Ahmedabad: While the goods and services tax regime aimed at improving business ease and simplifying taxes, some 4.05 lakh businesses closed after the new regime was rolled out. According to data from the State Commercial Tax Department, 4.05 lakh GST identification numbers (GSTINs) have been cancelled so far, implying that these many businesses either shut […]
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Unincorporated enterprises in the manufacturing sector lost nearly 1.8 million establishments and shed 5.4 million jobs between July 2015-June 2016 and October 2022-September 2023, an analysis of the fact sheet on ‘Annual Survey of Unincorporated Sector Enterprises (ASUSE)’ and the comparable 73rd round survey in 2015-16 by the National Statistical Office (NSO) showed. An estimated […]
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Budget 2024 Expectations: Economists batted for continuing the capital spending push to spur growth, fiscal prudence and steps to boost jobs. The focus on the quality of spending, sans mindless freebies and steps to further curb inflationary pressure should continue, some of the economists told Finance Minister, Nirmala Sitharaman at the meeting, advising against reckless […]
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