Wednesday, 25 May, 2022
TopicFiscal year

Topic: Fiscal year

‘Rebound after second wave subdued than expected’: Fitch cuts India’s GDP forecast to 8.4%

Fitch had previously forecast growth of 8.7% in 2021-22. However, it has raised the economic growth projection for the next financial year to 10.3%, from previous forecast of 10%.

Gross advanced tax collection falls by 31% in first quarter of fiscal year

The advance corporate tax mop-up declined by 79% as well due to the three-month long lockdown imposed due to coronavirus.

Indian economy to shrink by 3.2% in fiscal year 2020-21: World Bank

While the World Bank downgraded its projection of India by a massive negative 9%, it also said the economy is expected to bounce back in 2021.

India’s per-capita income rises 6.8 per cent to Rs 11,254 a month in FY20

Data on the annual national income and GDP 2019-20 was released by the Ministry of Statistics and Programme Implementation. The per-capita income is a crude indicator of a country's prosperity.

India’s top broker sees profit growth revival on policy changes

Government's policy changes to tackle sour debt may spell growth for the next three fiscal years.

Trade tensions no bar as India, South Asia set to retain spring in growth, says ADB

The bank said India's economy was on track to meet fiscal year 2018 projected growth of 7.3% and accelerate to 7.6% in 2019. 

On Camera

YourTurn

US President Joe Biden speaks in the East Room of the White House in Washington, D.C., on 16 August 2021. Biden defended his decision to withdraw US troops from Afghanistan | Samuel Corum | Bloomberg

US blames failure to shut Pakistan border for Afghan defeat. India, please take note

The US could have used its coercive resources to compel Pakistan to shut down the Taliban’s transborder sanctuaries. It chose not to—costing its victory.
Vendors at a store selling edible oils at Begum Bazaar in Hyderabad, India| Photographer: Dhiraj Singh/Bloomberg

Modi govt to allow duty-free import of soybean, sunflower oil, cool surging prices

The government will permit purchases of 2 million tons each of the two vegetable oils per annum this fiscal year and the next, according to a notification by the finance ministry.

Defence

Naval helicopters | Representational image | indiannavy.nic.in

What’s Combined Military Forces-Bahrain? US-backed coalition India joined on Quad sidelines

India is 35th member of the maritime counterterrorism partnership that also includes Pakistan, Australia, Bahrain, Denmark, Egypt, France, Germany and Greece, among others.

Mandir or Masjid? New surveys not needed, just acceptance of truth & move towards reconciliation

That temples were destroyed and mosques built is undisputed history. The past can’t be changed, but we can’t deny the wrongs of the past either before we consider reconciliation.
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