Business Finance

CGST Officers Uncover ₹1.95 Lakh Crore GST Evasion in Ten Months

By BPN News Desk March 11, 2025

Between April 2024 and January 2025, officers of the Central Goods and Services Tax (CGST) department uncovered significant tax evasion amounting to ₹1.95 lakh crore across 25,397 cases. This substantial figure underscores the ongoing challenges in ensuring compliance within the Goods and Services Tax (GST) framework. Breakdown of GST Evasion Cases The detected cases of

Finance

FPIs Withdraw ₹24,753 Crore from Indian Equities in Early March Amid Global Uncertainties

By BPN News Desk March 10, 2025

Foreign portfolio investors pulled out ₹24,753 crore from Indian equities in the first week of March 2025, contributing to a total outflow of ₹1.37 lakh crore this year, amid global economic uncertainties and domestic challenges.

Finance

India’s Inflation Likely Falls Below 4% in February, First Time in Six Months

By BPN News Desk March 10, 2025

India's CPI inflation is projected to have dropped below 4% in February 2025 due to easing food prices, raising expectations for further interest rate cuts and economic growth.

Finance

RBI Imposes ₹76.6 Lakh Penalty on Four NBFCs for P2P Lending Compliance Violations

By BPN News Desk March 10, 2025

The Reserve Bank of India has fined four non-banking financial companies a total of ₹76.6 lakh for non-compliance with guidelines related to peer-to-peer lending platforms, emphasizing the importance of regulatory adherence in the financial sector.

Finance

India Poised to Reduce GST Rates and Simplify Tax Structure: Finance Minister Nirmala Sitharaman

By BPN News Desk March 9, 2025

Finance Minister Nirmala Sitharaman announces imminent reductions in GST rates and rationalization of tax slabs, with the review process in its final stages, aiming to simplify the tax structure and promote economic growth.

Finance

GST Council Reconstitutes GoM for Sector-Specific Tax Policy Enhancements

By BPN News Desk March 7, 2025

The GST Council has revamped the Group of Ministers on GST revenue analysis to address sector-specific tax policy issues and explore unified enforcement strategies to combat tax evasion.

Finance

India on Track to Achieve $10 Trillion Economy Within a Decade: Finance Commission Chief

By BPN News Desk March 2, 2025

Arvind Panagariya, Chairman of the 16th Finance Commission, has expressed confidence in India’s trajectory toward becoming a $10 trillion economy within the next decade. Speaking at the 49th Civil Accounts Day celebrations in New Delhi, Panagariya highlighted India’s robust economic performance over the past two decades, noting an average annual growth rate of

Finance

RuPay Captures 16% of India’s Credit Card Market, Boosted by UPI Integration

By BPN News Desk March 2, 2025

RuPay, India’s indigenous payment network, has achieved a significant milestone by capturing approximately 16% of the country’s total credit card spending. Notably, nearly half of these transactions are facilitated through the Unified Payments Interface (UPI), highlighting the growing integration of RuPay credit cards with UPI’s seamless payment system.

Business Finance

India’s GST Collections Rise 9.1% to ₹1.84 Lakh Crore in February

By BPN News Desk March 1, 2025

India’s Gross Goods and Services Tax (GST) collections for February 2025 recorded a notable increase of 9.1% compared to the same month last year, reaching approximately ₹1.84 lakh crore. This consistent rise highlights the resilience of the economy and the efficiency of tax administration. Breakdown of GST Revenues The total GST revenue collected in February […]

Finance

India Communicates Challenges in Reducing Fiscal Deficit to 3% of GDP to IMF

By BPN News Desk February 28, 2025

The Indian government has conveyed to the International Monetary Fund (IMF) that reducing the fiscal deficit to approximately 3% of the Gross Domestic Product (GDP) presents significant challenges. This communication underscores the complexities involved in achieving such a fiscal target. In a recent report, both the IMF and the Indian government acknowledged the necessity