Government

Gross GST collection in February up 12.5% at Rs1,68,337 crore

Gross GST collection in February up 12.5% at Rs1,68,337 crore

05 Mar 2024

Gross revenue collection by way of Goods and Services Tax (GST) increased by 12.5 per cent year-on-year in February 2024 and stood at Rs1,68,337 crore. The increase in GST collection in February was marked by a 13.9 per cent increase in domestic transactions and 8.5 per cent increase in GST from import of goods.

India's industrial production grows 3.8% in December

India's industrial production grows 3.8% in December

13 Feb 2024

Industrial production in India based on the Index of Industrial Production (IIP) expanded 3.8 per cent in December 2023, against 2.4 per cent in the previous month and 5.1 per cent in December 2022

Finance minister tables white paper on state of Indian economy before and after 2014

Finance minister tables white paper on state of Indian economy before and after 2014

10 Feb 2024

Finance minister Nirmala Sitharaman on Thursday tabled a 'white paper on the Indian economy' detailing the state of the economy prior to 2014 and after

And now, PDS fair price shops on-board ONDC

And now, PDS fair price shops on-board ONDC

08 Feb 2024

For the first time, 11 Fair Price Shops of Una and Hamirpur districts of Himachal Pradesh on-boarded the free e-commerce platform, Open Network Digital Commerce (ONDC)

Budget proposes rating of iconic tourist centres based on quality and facilities

Budget proposes rating of iconic tourist centres based on quality and facilities

02 Feb 2024

Presenting the Interim Budget 2024-25 in Parliament, finance minister Nirmala Sitharaman laid emphasis on comprehensive development of tourist centers for achieving the vision of ‘Viksit Bharat’ by 2047.

Women SHGs will help create 30 million `Lakhpati Didis, says finance minister

Women SHGs will help create 30 million `Lakhpati Didis, says finance minister

02 Feb 2024

Buoyed by the success of the Women Self Help Groups (SHGs) across the country, the government has decided to set the goal higher and enhance the target for `Lakhpati Didis’ from 20 million to 30 million, finance minister Nirmala Sitaraman said while presenting the Interim Union Budget 2024-25 in Parliament.

Interim Union Budget 2024–25: Key highlights

Interim Union Budget 2024–25: Key highlights

01 Feb 2024

Embodying the principles of ‘Sabka Saath, Sabka Vikas, and Sabka Vishwas,’ Union Minister for Finance and Corporate Affairs, Nirmala Sithraman, unveiled the Interim Budget 2024–25 in Parliament, aligning with the ‘Sabka Prayas’ approach. Following are the key highlights of the Interim Union Budget 2024–25 discussed in the session.

India’s GST collection rises 10.4% to Rs1,72,129 cr in January

India’s GST collection rises 10.4% to Rs1,72,129 cr in January

01 Feb 2024

Gross revenue collected by way of Goods and Services Tax (GST) in January 2024 stood at Rs1,72,129 crore, recording a 10.4 per cent year-o-year growth over the Rs155,922 crore collected in January 2023

Government reduces import duty on mobile phone components from 15% to 10%

Government reduces import duty on mobile phone components from 15% to 10%

31 Jan 2024

In a recent move to boost the export sector of India, the Ministry of Finance announced on Tuesday, 30th January, 2024, a reduction in the import duty on components used for mobile phone manufacturing.

Cabinet panel allows coal PSUs to set up 2 new thermal power projects

Cabinet panel allows coal PSUs to set up 2 new thermal power projects

19 Jan 2024

The Cabinet Committee on Economic Affairs (CCEA) has approved a proposal for equity investment by South Eastern Coalfields Limited (SECL) in a 1×660 MW thermal power plant

Govt to build 6,000 km of EV-ready highways by 2030

Govt to build 6,000 km of EV-ready highways by 2030

11 Jan 2024

The government has proposed to build 6,000 km of highways that are ready for electric mobility over the next seven years, as part of the proposed Vision 2030 PM Public Transport Sewa projects.

India aims for $5 trillion economy by FY28, eyes $30 trillion by 2047: Finance Minister Sitharaman

India aims for $5 trillion economy by FY28, eyes $30 trillion by 2047: Finance Minister Sitharaman

10 Jan 2024

India’s Finance Minister Nirmala Sitharaman announced optimistic projections for India’s economic future at the Vibrant Gujarat Global Summit.

EaseMyTrip suspends Maldives flight bookings amid diplomatic tensions

EaseMyTrip suspends Maldives flight bookings amid diplomatic tensions

08 Jan 2024

In a bold move showcasing solidarity with India, EaseMyTrip has announced the suspension of all flight bookings to the Maldives.

India’s real GDP seen growing at 7.3% in the current fiscal

India’s real GDP seen growing at 7.3% in the current fiscal

06 Jan 2024

India’s economy is expected to grow at a robust 7.3 per cent in the current financial year (April-March 2023-24) against the 7.2 per cent growth in the previous financial year (April-March 2022-23)

Monthly GST collection in April-December averages Rs1.66 lakh crore

Monthly GST collection in April-December averages Rs1.66 lakh crore

04 Jan 2024

Revenue collection by way of Goods and Services Tax (GST) for December 2023 stood at Rs,164,882 crore, while gross GST collection for the first nine months of the current financial year

Finance Ministry boosts the FAME-II scheme with an additional Rs 1,500 crore

Finance Ministry boosts the FAME-II scheme with an additional Rs 1,500 crore

03 Jan 2024

In a strategic move to further propel the adoption of electric vehicles (EVs) in India, the Union Finance Ministry has greenlit an additional allocation of Rs. 1,500 crore for the second phase of the Faster Adoption and Manufacture of Electric Vehicles (FAME-II) program.

Supreme Court grants SEBI 3 months for pending probes in Adani-Hindenburg case verdict

Supreme Court grants SEBI 3 months for pending probes in Adani-Hindenburg case verdict

03 Jan 2024

In a significant ruling on Wednesday, 4 January 2023, the Supreme Court declared that there are no grounds to transfer the investigation of the Adani group of companies, as detailed in the Hindenburg report, away from the jurisdiction of the market regulator

The government allows female employees to nominate children for family pensions

The government allows female employees to nominate children for family pensions

02 Jan 2024

In a significant move, the Ministry of Personnel, Public Grievances, and Pensions announced on Tuesday, 2 January 2024, that female government servants or pensioners can now nominate their children for family pensions.

Hindustan Unilever faces Rs 447.5 crore GST demands and penalties

Hindustan Unilever faces Rs 447.5 crore GST demands and penalties

02 Jan 2024

Leading fast-moving consumer goods (FMCG) manufacturer, Hindustan Unilever Ltd. (HUL), disclosed on Monday, 1 January 2024, that it has been served with Goods and Services Tax (GST) demands and penalties totaling Rs. 447.5 crores by the authorities.

Sitharaman asks banks to review practices to improve performance

01 Jan 2024

Finance minister Nirmala Sitaraman has asked public sector banks to focus on healthy lending practices, so as to prevent bank frauds and wilful defaults, especially by corporate borrowers.

Centre appoints former NITI Aayog V-C Dr Arvind Panagariya as head of 16th Finance Commission

01 Jan 2024

Government of India on Sunday announced the constitution of the Sixteenth Finance Commission, with Arvind Panagariya, former vice chairman, NITI Aayog, and Columbia University professor, as its chairman.

Centre releases Rs72,961.21 cr more as tax devolution to states

22 Dec 2023

The central government has authorised the release of an additional installment of Rs72,961.21 crore to states as part of its devolution of tax.

LIC gets a 10-year exemption from the 25% public shareholding rule

LIC gets a 10-year exemption from the 25% public shareholding rule

21 Dec 2023

In a significant development, the state-owned Life Insurance Corporation of India (LIC) announced on Thursday, 21 December 2023, that it has secured a one-time exemption from the Finance Ministry regarding the 25% public shareholding rule.

The government contemplates the termination of the FAME subsidy for electric two-wheelers

The government contemplates the termination of the FAME subsidy for electric two-wheelers

18 Dec 2023

In a recent report by the Times of India (ToI), it has been indicated that the government is unlikely to continue subsidies for electric two-wheelers as the provisions for the same are set to expire in a few weeks.

ISRO Chief S. Somnath unveils future plans: Chandrayaan-4 mission and innovative robotic arm in the pipeline

ISRO Chief S. Somnath unveils future plans: Chandrayaan-4 mission and innovative robotic arm in the pipeline

15 Dec 2023

The Indian Space and Research Organization (ISRO) is embarking on an ambitious trajectory in space exploration, solidifying its position as a key player in the cosmos.

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