Finance

India’s Logistics Costs to Drop to 9% of GDP by 2026

By Editor - News Desk December 9, 2024

India aims to bring down its logistics costs from 16% of GDP to 9% within the next two to three years, as announced by Union Minister Nitin Gadkari. This ambitious target seeks to strengthen economic competitiveness by streamlining the nation’s supply chain infrastructure. Infrastructure Development Initiatives The government is accelerating infrastructure projects,

Finance

India’s Inflation Expected to Ease to 5.4% in November

By Editor - News Desk December 9, 2024

Decline in Vegetable Prices Expected to Ease India’s Inflation India’s inflation rate is anticipated to decrease to 5.4% in November 2024, down from 6.21% in October, primarily due to a significant drop in vegetable prices. This decline is expected to provide relief to consumers and may influence the Reserve Bank of India’s (RBI) monetary policy […]

Finance

Economists Advocate New Manufacturing Policy in Pre-Budget Meet

By BPN News Desk December 7, 2024

In a pre-Budget consultation chaired by Finance Minister Nirmala Sitharaman, economists called for the introduction of a new manufacturing policy to stimulate economic growth. The meeting, held as part of preparations for the Union Budget 2024-25, focused on strategies to boost private investments and revitalize India’s industrial sector. Push for Manufacturing and

Finance

Direct Tax Code 2025: Simplified Tax Laws to Benefit Middle-Class Taxpayers

By BPN News Desk December 5, 2024

The Indian government is set to unveil the Direct Tax Code (DTC) 2025, a comprehensive reform of the country’s income tax laws, in the Union Budget on February 1, 2025. The new code will replace the Income Tax Act of 1961, aiming to simplify the taxation process, reduce compliance burdens, and align tax laws with […]

Finance

No Plans for Public Sector Bank Mergers, Finance Ministry Confirms

By BPN News Desk December 4, 2024

The Finance Ministry has clarified that no proposals are currently under consideration for merging public sector banks (PSBs). This statement was made in the Rajya Sabha on Tuesday, with the Ministry also acknowledging the positive impact of previous consolidations in the sector. Mergers Yield Positive Results In recent years, India has seen significant consolidation in

Finance

Lok Sabha Approves Banking Laws Amendment Bill

By BPN News Desk December 4, 2024

The Lok Sabha has approved the Banking Laws Amendment Bill, aimed at improving financial security and streamlining nominee management in banking operations. This significant move allows account holders to designate up to four nominees for a single bank account, providing flexibility and enhanced safety for depositors and their families. Key Provisions of the Amendment The

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ICC Arrest Warrant for Netanyahu Sparks Global Division

By BPN News Desk November 22, 2024

The International Criminal Court (ICC) has issued an arrest warrant against Israeli Prime Minister Benjamin Netanyahu, accusing him of alleged war crimes in Gaza. This unprecedented move has led to sharp divisions among world leaders, with some applauding the decision as a step towards justice, while others view it as politically motivated. Allegations Against Netanyahu

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US SEC Alleges Adani Bribery to Secure Solar Power Deals

By BPN News Desk November 22, 2024

The United States Securities and Exchange Commission (SEC) has accused Gautam Adani of offering bribes to secure solar power procurement deals, particularly through discussions with Andhra Pradesh Chief Minister Jagan Mohan Reddy in August 2021. These claims, part of the SEC’s court filings, allege Adani sought to address the state’s hesitancy to finalize agreements

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Kim Accuses US of Escalating Tensions, Warns of Nuclear War

By BPN News Desk November 22, 2024

North Korean leader Kim Jong Un has accused the United States of escalating tensions on the Korean peninsula to unprecedented levels, claiming the region faces the gravest risk of nuclear war in history. His remarks were delivered during a military exhibition in Pyongyang on Thursday, as reported by state media outlet KCNA. “Unchanging Aggression” From […]

Finance

Middle Class Faces Inflation Impact Despite Tax Relief

By BPN News Desk November 19, 2024

Tax relief announced for India’s middle class by the government has been overshadowed by the persistent challenge of rising inflation. Despite a hike in the tax exemption limit, middle-income families are finding it difficult to offset the increased cost of living, particularly in key areas like food, healthcare, and education. Exemption Limit Hiked, But Inflation […]