Pointing out that overseas investors has pulled out over Rs 1.14 lakh crore from the Indian market so far, Tharoor had urged the finance minister to explain the worrying trend of ”steadily” declining investment by the foreign investors.
The gross GST collection in March 2022 is all-time high, breaching an earlier record of Rs 1,40,986 crore collected in January.
Goyal, who was addressing the session ‘Gateway to Growth – Roundtable on Indian Startup Ecosystem’ in Abu Dhabi, urged investors in the United Arab Emirates (UAE) to invest in Indian start-ups.
The government in the Finance Bill 2022 has kept the tax exemption limit unchanged. Patel said the middle class has very little flexibility when it comes to finances.
Flagging the disparity in intention and action when it comes to climate change, he said that responsible governments would find success in tiding over the climate crisis.
Through his letter, Baghel has discussed the losses that will be faced by all the states due to this decision taken by the Centre.
Sitharaman also said in the Lok Sabha that actions have been taken, including registration of FIRs, against those who have cheated small savings depositors through various fraudulent activities.
The Indian rupee opened 0.48% lower at 76.49 against the greenback as crude surged. Crude is trading above the $115-a-barrel mark after Russia said no agreements were reached in Ukraine negotiations. Also, reports suggesting that the European Union may be edging closer to a ban on Russian crude imports fueled[Read More…]
In its Global Macro Outlook 2022-23 (March 2022 Update) titled: Economic Growth will suffer as fallout from Russia’s invasion of Ukraine builds, the rating agency said that India’s growth is likely to be 5.4 per cent in 2023.
”Even as we expect the cyclical recovery trend to continue, we expect it to be softer than we previously projected,” it said in a report.
Microsoft India President Anant Maheshwari during the ET Global Business Summit said that the growth of every company will depend on intensive adoption of technology in their business and it is happening across the sectors.
The Reserve Bank of India is planning to come out with a central bank-backed digital currency, using blockchain technology in 2022-23.
Union Finance Minister Nirmala Sitharaman on Tuesday said the ‘Digital Rupee’ is a conscious call taken in consultation with the Reserve Bank of India (RBI) and the government sees clear advantages in a central bank driven digital currency. The Minister was speaking at the India Global Forum’s annual summit here.[Read More…]
The country’s exports to Russia stood at USD 2.55 billion in the first nine months of the current fiscal (0.8 percent of total imports), up 36.1 per cent from USD 1.87 billion in the same period last fiscal (0.9 per cent), a Crisil report said on Monday.
One danger is that this leads to a panic sell-off in the shares of these companies that creates a domino effect across the market similar to what happened with banks in 2007-08.
Addressing the closing session of the DPIIT’s webinar on ‘Make in India for the World’, he talked about a five-point vision for boosting manufacturing and promoting exports.
In its report ‘What Investors Want to Know: Indian Sovereign and Financial Institutions in 2022’, it said financial institutions face an uneven recovery due to lingering asset-quality risks and capital limitations.
The country’s economy expanded by 8.4 per cent in the second quarter of 2021-22, to cross pre-pandemic levels. However, the GDP growth in July-September period was slower than the 20.1 per cent expansion in the previous quarter.
The Finance Minister further said that if India doesn’t have a vision for 100 years then will suffer similarly to the first 70 years.
Of this, the share of public sector banks (PSBs) in bad loans proportion has also declined 72 per cent against nearly 80 per cent.
Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery of the economy hit by the coronavirus pandemic.
SIBs are perceived as banks that are ‘too big to fail (TBTF)’. This perception of TBTF creates an expectation of government support for these banks in times of distress. Due to this perception, these lenders enjoy certain advantages in the funding markets.
In that text, Professor Jorge Hernando Cuñado, from Nebrija University, broke down some of the events that were expected to bring instability to world order and the world economy.
All said, the emerging coronavirus situation, especially in the wake of the Omicron variant, might pose headwinds in the pace of reforms.
The General Budget is presented by the Finance Minister every year in Parliament on February 1.
