Economy National

Centre Proposes Reduction in States’ Tax Share from FY27

By BPN News Desk February 27, 2025

The central government is reportedly considering a reduction in the tax revenue share allocated to states, starting from the fiscal year 2026-27. This proposal, if implemented, could have far-reaching implications for state finances and their ability to fund various developmental projects. Proposed Changes in Tax Revenue Distribution Currently, states receive 42% of the

Economy National

World Bank Affirms India’s Position as Fastest-Growing Major Economy

By BPN News Desk February 25, 2025

The World Bank has reaffirmed India’s status as the world’s fastest-growing major economy, projecting a growth rate of 7% for the current fiscal year. This forecast underscores India’s resilience and its significant role in driving global economic momentum. Prime Minister Modi Highlights Economic Resilience Prime Minister Narendra Modi addressed the

Economy National

RBI Projects Robust Economic Growth for India

By BPN News Desk February 23, 2025

The Reserve Bank of India (RBI) has projected that India will sustain its status as the fastest-growing major economy in the fiscal year 2025-26, anticipating a GDP growth rate of 6.7%. This optimistic outlook is attributed to several factors, including increased rural demand, tax relief measures introduced in the Union Budget, and a recovery in […]

Economy National

RBI Governor Advocates for Rate Cut Amid Easing Inflation

By BPN News Desk February 22, 2025

In the latest Monetary Policy Committee (MPC) meeting, Reserve Bank of India (RBI) Governor Sanjay Malhotra emphasized that the current macroeconomic conditions and the anticipated alignment of inflation with target levels make it an “appropriate time” for a rate cut. He highlighted that monetary easing, combined with agricultural growth and recent budgetary

Economy National

Finance Minister Addresses FII Withdrawal from Indian Equities

By BPN News Desk February 18, 2025

In recent months, the Indian stock market has experienced a notable outflow of Foreign Institutional Investments (FIIs), raising concerns among investors and policymakers. Finance Minister Nirmala Sitharaman has addressed this issue, attributing the FII sell-off to global market dynamics and monetary policy adjustments in developed economies. Global Factors Influencing FII

Economy National

India’s Forex Reserves Increase by $7.6 Billion

By BPN News Desk February 14, 2025

India’s foreign exchange reserves have surged by $7.6 billion, marking the third consecutive week of expansion. This increase brings the total reserves to approximately $704.89 billion, reflecting strong foreign investments and a stable macroeconomic outlook. Breakdown of Forex Reserves The foreign exchange reserves comprise multiple components that contribute to

Economy National

GST Council Considers Eliminating 12% Slab to Boost Consumption

By BPN News Desk February 14, 2025

In a strategic move to stimulate consumer spending and simplify the tax structure, the Goods and Services Tax (GST) Council is deliberating the elimination of the 12% tax slab. This proposal aims to reassign items currently taxed at 12% into either the 5% or 18% categories, thereby streamlining the GST framework. GST Rate Rationalization The […]

Economy National

Piyush Goyal Highlights Consumption and Investment as Twin Pillars of India’s Economic Growth

By BPN News Desk February 13, 2025

Commerce and Industry Minister Piyush Goyal has emphasized that India’s economic growth can be significantly boosted by a combination of consumption-led and investment-led strategies. Speaking at the Invest Karnataka event in Bengaluru, he stated, “Economists will tell you that consumption-led growth, coupled with investment-led growth, can together become the

Economy National

New Income Tax Bill 2025 Introduced in Parliament

By BPN News Desk February 13, 2025

Finance Minister Nirmala Sitharaman introduced the Income Tax Bill 2025 in Parliament, marking a significant step towards tax reforms in India. The proposed legislation aims to replace the Income Tax Act of 1961 with a more structured and modern framework, enhancing compliance and transparency. Key Features of the Income Tax Bill 2025 The new bill […]

Economy National

RBI Infuses Record ₹2.5 Trillion into Banking System

By BPN News Desk February 12, 2025

In a significant move to address liquidity constraints, the Reserve Bank of India (RBI) has injected a record ₹2.5 trillion into the banking system through an overnight variable rate repo auction. This substantial infusion follows the central bank’s aggressive interventions in the foreign exchange market aimed at stabilizing the Indian rupee. RBI’s Record