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 […]

Economy National

RBI Increases Gold Reserves by 72.6 Tonnes in 2024

By BPN News Desk February 5, 2025

The Reserve Bank of India (RBI) has significantly increased its gold reserves in 2024, adding 72.6 tonnes over the year. This expansion brings India’s total gold holdings to 876.18 tonnes, with a valuation of approximately $66.2 billion. The increase marks the highest annual addition since 2021 and reflects the central bank’s strategy to strengthen its […]

Economy

Rupee Hits Record Low Amid Rate Cut Speculations

By BPN News Desk February 5, 2025

The Indian rupee has dropped to an all-time low against the U.S. dollar, influenced by market expectations of a potential rate cut by the Reserve Bank of India (RBI) and rising demand for dollars from importers. Rupee Hits Record Low The rupee fell to 87.35 per U.S. dollar, marking a fresh record low. This decline […]

Economy National

Govt Plans GST Revamp Following Tax Reforms

By BPN News Desk February 4, 2025

After announcing major income tax reforms in the Union Budget 2025, the government is now considering a revamp of the Goods and Services Tax (GST) structure to simplify compliance and enhance efficiency for businesses and consumers. Proposed Changes to GST Structure Currently, GST operates with four key slabs—5%, 12%, 18%, and 28%, with additional cess […]

Economy National

Income Tax and TDS Relief to Strengthen Savings

By BPN News Desk February 4, 2025

The latest Union Budget has introduced income tax and Tax Deducted at Source (TDS) relief measures, aimed at boosting disposable income and encouraging higher savings. These changes are expected to benefit taxpayers while strengthening the banking sector by increasing deposits. Bank Deposits Expected to Rise by ₹45,000 Crore The new tax relief measures could lead […]

Economy National

Indian Rupee Strengthens as US Pauses Tariffs on Canada and Mexico

By BPN News Desk February 4, 2025

The Indian rupee opened stronger against the US dollar after the United States decided to pause tariffs on imports from Canada and Mexico. This move has brought temporary relief to global markets, leading to renewed investor confidence in emerging economies like India. US Tariff Decision and Its Impact The US administration had earlier announced new […]

Economy National

RBI Expected to Announce Rate Cut

By BPN News Desk February 4, 2025

Following the government’s recent tax reductions, the Reserve Bank of India (RBI) is widely expected to lower interest rates by 25 basis points in its upcoming monetary policy review. The move is aimed at easing financial burdens on middle-class households and accelerating economic growth. Positive Economic Indicators Support Rate Cut Recent economic data indicates a

Economy National

Amit Shah Highlights Tax Relief for Middle Class in Budget 2025

By BPN News Desk February 1, 2025

Union Home Minister Amit Shah has highlighted the government’s commitment to easing financial burdens on the middle class in the Union Budget 2025. Speaking about the recent tax exemptions, he affirmed that Prime Minister Narendra Modi has always prioritized the welfare of middle-class families. “The middle class has always been in PM Modi’s heart.”