Corporate tax collections saw modest growth of just 1.2%, but a 20.2% rise in income tax collections helped strengthen the government's overall revenue position.
The UN World Economic Situation and Prospects 2024 report says while India will remain fastest-growing big economy, it faces risks from erratic monsoons & possible oil price spike.
RBI’s monetary policy committee voted to keep interest rates unchanged at 6.5%, says RBI Governor Shaktikanta Das. Adds, inflation is set to ease further to 5.2% by end of financial year.
While indicators of urban demand are growing at a sharp pace, rural consumption is in slow lane. However, manufacturing, mining and construction have all seen double-digit growth.
RBI has hiked interest rates by 250 basis points since May 2022 to combat inflation. Study by central bank says growth might have been ‘sacrificed’ by 65 basis points due to this.
The sharp fall in year-on-year growth rate is also partly due to a fading of pandemic-induced base effects which had contributed towards higher growth figures in fiscal 2021/22.
Last week, Fitch Ratings had slashed the country's GDP projection to 7% for current fiscal year citing elevated inflationary levels and higher interest rates.
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
Taylor ‘Fema’ Hiester, commander of USAF F-16 Viper Demo Team, hit out at air show organisers for continuing with the show after Wing Commander Namansh Syal lost his life in the incident.
It is a brilliant, reasonably priced, and mostly homemade aircraft with a stellar safety record; only two crashes in 24 years since its first flight. But its crash is a moment of introspection.
Mr. Moily would be refreshing change as finance minister. The Congress has people who are on the right track and only needs leaders at the very top who can articulate that vision.
Earlier billionaires used to be politicians and have family wealth. Increasingly, young people working hard to make money are succeeding due to government policies.
The author would feel happy if it had growing numbers of poor people?
Mr. Moily would be refreshing change as finance minister. The Congress has people who are on the right track and only needs leaders at the very top who can articulate that vision.
Earlier billionaires used to be politicians and have family wealth. Increasingly, young people working hard to make money are succeeding due to government policies.
The author would feel happy if it had growing numbers of poor people?