Union Finance Minister Nirmala Sitharaman chairs the pre-Budget meeting with Finance Ministers of all States and Union Territories in New Delhi on June 22, 2024. | Photo Credit: PTI Union Finance Minister Nirmala Sitharaman chaired a pre-budget meeting with Finance Ministers of all States and Union Territories on June 22 to take suggestions for the…
A woman inspects garments at a knitwear export unit in Tiruppur. File | Photo Credit: S. Siva Saravanan The global textile industry, including textile machinery and garment manufacturing, continues to be concerned about “weak demand” in the market, according to a recent survey. The latest results of the International Textile Manufacturers Federation (ITMF) Global Textile…
Union Finance Minister Nirmala Sitharaman. | Photo Credit: PTI States have urged the Centre to make some improvements in the 50-year interest free loan scheme for pursuing capital investment projects, under which the Union government has proposed to give them ₹1.3 lakh crore this year, the same amount as 2023-24. Ministers from States made suggestions…
The government has hiked windfall tax on domestically produced crude oil to ₹6,000 per tonne, from ₹3,250 per tonne, with effect from Tuesday, July 2, 2024. Explained | What is windfall tax and why are countries imposing it on the energy sector right now? The tax is levied in the form of Special Additional Excise…
Union Finance Minister Nirmala Sitharaman chairs the 53rd GST Council meeting in New Delhi on June 22, 2024. | Photo Credit: PTI Meeting after almost nine months, the Goods and Services Tax (GST) Council on Saturday approved measures to ease compliance for small businesses, exempted hostel accommodation worth up to ₹20,000 a month as well…
Bihar Deputy Chief Minister Samrat Choudhary greets Union Finance Minister Nirmala Sitharaman at the pre-Budget meeting in New Delhi. | Photo Credit: Special Arrangement Bihar Deputy Chief Minister Samrat Choudhary, who also held the Finance portfolio, on Saturday demanded further assistance and an additional package for Bihar during the pre-Budget meeting with Union Finance Minister…
India recorded a current account surplus of $5.7 billion or 0.6% of GDP in the March quarter, the Reserve Bank of India said on June 24. In the year-ago period, the current account deficit stood at $1.3 billion or 0.2% of GDP, and the same was $8.7 billion or 1% of GDP in the preceding…
The stalled monsoon has delayed Kharif crop sowing and the persistent heat wave in parts of India is fuelling food price hikes, particularly in vegetables, whose average retail prices rose by about 45.1% this month, economic researchers noted on Monday. Following a rapid onset to cover half the country in the first half of June,…
India needs to strengthen the rule of law to compete with the developed world, protect the independence of its central bank, and hold public officials, including IAS officers, more accountable, argues Duvvuri Subbarao, former RBI Governor and author of the recent book “Just a Mercenary?”, in an interview with The Hindu. Edited excerpts: You say…
New Delhi: Union Finance Minister Nirmala Sitharaman chairs the 53rd GST Council meeting, in New Delhi, Saturday, June 22, 2024. The story so far: On June 22, the GST council recommended introducing biometric-based Aadhaar authentication for GST registrations, in a phased manner. In a media interaction after the conclusion of the council meeting, Finance Minister…
