Economy National

30,000 Indian Taxpayers Declare Foreign Assets Worth Over ₹29,000 Crore

By BPN News Desk March 6, 2025

In a significant development, approximately 30,000 Indian taxpayers have declared foreign assets totaling over ₹29,000 crore, according to sources. This substantial disclosure underscores the growing compliance with the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, aimed at curbing unreported overseas wealth. The Black Money Act: An

Economy National

RBI’s $77.5 Billion Short Dollar Position May Impact Liquidity

By BPN News Desk March 6, 2025

The Reserve Bank of India (RBI) has reported a net short dollar position of $77.5 billion as of January 31, 2025. This substantial forward dollar sale has raised concerns over its potential impact on rupee liquidity and the adequacy of India’s foreign exchange reserves. Possible Effects on Rupee Liquidity The RBI’s short dollar positions are […]

Economy National

RBI to Inject ₹1 Lakh Crore via OMOs, Plans $10 Billion Swap

By BPN News Desk March 6, 2025

The Reserve Bank of India (RBI) has announced a series of liquidity measures to stabilize the financial system, including Open Market Operations (OMOs) and a foreign exchange (forex) swap auction. These steps aim to address liquidity concerns and maintain a smooth flow of credit in the economy. RBI to Infuse ₹1 Lakh Crore via OMOs […]

Economy National

India’s FDI Falls 5.6% to $10.9 Billion in Oct-Dec 2024

By BPN News Desk March 4, 2025

India’s foreign direct investment (FDI) declined by 5.6% year-on-year, totaling $10.9 billion in the October-December quarter of the 2024-25 fiscal year. This dip follows a period of strong growth in previous quarters but reflects the impact of global economic uncertainties on investor sentiment. FDI Trends in Recent Quarters Despite the quarterly drop, India’s FDI inflows

Economy National

India Poised to Surpass Japan as Fourth-Largest Economy

By BPN News Desk March 4, 2025

India is on the verge of a significant economic milestone, with projections indicating it will surpass Japan to become the world’s fourth-largest economy by 2025. This anticipated shift underscores India’s rapid economic growth and its increasing prominence on the global stage. India’s Accelerated Economic Growth In recent years, India has experienced

Economy National

All Government Scheme Funds to Route via Single Nodal Agency

By BPN News Desk March 3, 2025

In a significant move to enhance financial efficiency and transparency, Finance Minister Nirmala Sitharaman has mandated that, starting from the next fiscal year, all government scheme and project funds will be routed through a single nodal agency (SNA). This directive aims to streamline fund flow, reduce redundancies, and ensure better fiscal management across various

Economy National

World Bank Advises India to Reduce Tariffs and Implement Reforms to Boost Investment

By BPN News Desk March 2, 2025

The World Bank has emphasized the need for India to lower import tariffs and introduce regulatory reforms to attract foreign investment and drive economic expansion. High tariffs, particularly on intermediate and capital goods, coupled with complex trade barriers, have contributed to increased trade costs, limiting the country’s integration into global markets. High

Economy National

India’s Nominal GDP Nears $4 Trillion Mark, Projected to Surpass Milestone by FY25

By BPN News Desk March 1, 2025

India’s nominal Gross Domestic Product (GDP) has reached ₹331 lakh crore, approximately $3.94 trillion, reflecting the nation’s steady economic expansion. This growth trajectory positions India to surpass the $4 trillion mark by the end of the current fiscal year (FY25). Economic Growth Trajectory Over the past decade, India has risen from the tenth-largest to

Economy National

RBI Reports 98.18% Return of ₹2,000 Banknotes

By BPN News Desk March 1, 2025

The Reserve Bank of India (RBI) has confirmed that 98.18% of the ₹2,000 denomination banknotes have been returned to the banking system. As of February 28, 2025, ₹6,471 crore worth of these high-denomination notes remain in circulation. Withdrawal Announcement and Implementation The RBI had announced the withdrawal of ₹2,000 banknotes from circulation in May 2023 […]

Economy National

India’s Path to High-Income Status by 2047: World Bank Insights

By BPN News Desk March 1, 2025

India has the potential to achieve high-income status by 2047, according to a new report outlining the necessary reforms and strategies. To reach this milestone, the country must sustain an annual GDP growth rate of 7.8% over the next two decades, building on its historical growth trajectory. The report highlights the crucial need for structural […]