Economy National

India’s Net Direct Tax Collection Rises 15% to ₹17.78 Lakh Crore in FY25

By BPN News Desk February 12, 2025

India’s net direct tax collection has seen a significant increase of 15%, reaching ₹17.78 lakh crore in the current fiscal year 2024-25 (FY25), according to data released by the Central Board of Direct Taxes (CBDT). Breakdown of Tax Collections The CBDT’s data indicates that net non-corporate taxes, primarily comprising personal income tax, have grown by […]

Economy National

Sensex Plummets Over 1,000 Points; Investors Lose ₹10 Lakh Crore

By BPN News Desk February 11, 2025

Indian equity markets faced a significant downturn today, with the BSE Sensex plunging over 1,000 points, leading to a substantial erosion of investor wealth amounting to approximately ₹10 lakh crore. The decline was broad-based, affecting major sectors and leading to widespread concern among market participants. Key Factors Behind the Market Decline Several factors

Economy National

RBI Boosts Gold Reserves to Strengthen Financial Stability

By BPN News Desk February 11, 2025

The Reserve Bank of India (RBI) has significantly increased its gold reserves, a move aimed at diversifying its foreign exchange holdings and mitigating risks associated with currency fluctuations. This strategic accumulation aligns with a broader trend among central banks globally, reinforcing financial stability through gold investments. RBI’s Gold Accumulation

Economy National

Chidambaram Criticizes Budget for Favoring Wealthy

By BPN News Desk February 11, 2025

Former Finance Minister P. Chidambaram has expressed criticism of the recent Union Budget, asserting that it disproportionately favors the wealthiest individuals while offering limited support to the poor. Chidambaram’s Critique of Budget Allocation Chidambaram highlighted that the budget’s provisions extend benefits not only to the underprivileged but also to

Economy National

Tariff Concerns Depreciate Rupee; Bonds Track U.S. Inflation

By BPN News Desk February 10, 2025

The Indian rupee has fallen to a new record low, driven by mounting concerns over trade policies and global economic trends. Meanwhile, the Indian bond market is closely monitoring upcoming U.S. inflation data, which could influence interest rate decisions and investor sentiment. Impact of U.S. Tariffs on the Rupee The depreciation of the rupee follows […]

Economy National

Government and RBI Collaborate to Foster Economic Growth

By BPN News Desk February 10, 2025

Finance Minister Nirmala Sitharaman has highlighted the collaborative efforts between the Indian government and the Reserve Bank of India (RBI) to ensure the nation’s economic growth remains on a steady trajectory. She emphasized the importance of affordable interest rates to support industry expansion and capacity building. Government and RBI’s Unified

Economy National

Indian Rupee Hits Record Low Amid U.S. Tariff Concerns

By BPN News Desk February 10, 2025

The Indian rupee plunged to an all-time low of 87.96 against the U.S. dollar following the announcement of new tariffs by the United States. The depreciation reflects growing concerns over trade tensions and their impact on global markets. U.S. Tariffs Trigger Currency Decline The decline in the rupee was triggered by the latest announcement of […]

Economy National

RBI Governor Confident in India’s Potential for 7% Economic Growth

By BPN News Desk February 8, 2025

Reserve Bank of India (RBI) Governor Sanjay Malhotra has expressed optimism about the nation’s economic trajectory, stating that India can “certainly achieve over 7% growth rate” and that the country “should aspire for that.” This assertion comes as the RBI projects a 6.7% growth for the fiscal year 2025-26, an increase from the 6.4% estimated

Economy National

Cabinet Approves New Income Tax Bill for Parliamentary Introduction

By BPN News Desk February 8, 2025

The Union Cabinet has given its approval to a new Income Tax Bill, which is scheduled to be introduced in Parliament next week. This legislative move seeks to replace the existing Income Tax Act, which has been in force for over six decades, with a more contemporary framework. Objective of the New Income Tax Bill […]

Economy National

RBI Reduces Repo Rate to 6.25% to Stimulate Economic Growth

By BPN News Desk February 7, 2025

In a move to invigorate the slowing economy, the Reserve Bank of India (RBI) has reduced its key policy rate for the first time in nearly five years. The Monetary Policy Committee (MPC) unanimously decided to lower the repo rate by 25 basis points, bringing it down to 6.25%. This decision reflects the central bank’s […]