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Economy National

PM Modi Hails India’s 7.8% GDP Growth

By BPN News Desk
Prime Minister Narendra Modi has hailed India’s 7.8% GDP growth in the April-June quarter of FY 2026-27, calling the performance a major achievement amid oil price shocks, supply-chain disruptions and global uncertainty. He also criticised pessimistic assessments of the economy, saying the latest figures had countered what he described as a “jhooth ki goonj”. India […]
RBI
Economy National

RBI Steps In as Oil Pressure Hits Rupee

By BPN News Desk
The Reserve Bank of India is believed to have intervened in the foreign exchange market for an eighth consecutive trading session as rising crude oil prices continued to put pressure on the rupee. The Indian currency weakened to around ₹95.68 against the US dollar, its lowest level in nearly three weeks. RBI Intervention Supports Indian […]
income tax
Economy National

Foreign Assets Disclosure Window Opens August 16

By BPN News Desk
The Income Tax Department has notified detailed rules for the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026, opening a one-time compliance window from August 16. Eligible taxpayers can voluntarily disclose previously unreported overseas assets or foreign income and obtain protection from harsher penalties and prosecution after making the prescribed payment.
gold
Economy National

Gold Duty Earns Centre ₹10,463 Crore

By BPN News Desk
India collected ₹10,463 crore in customs duty from gold, silver and platinum imports in less than three months after sharply raising import duties on precious metals. Gold accounted for nearly the entire collection, while enforcement agencies also seized more than 160 kg of illegally imported gold following the duty increase. Gold Import Duty Generates ₹10,040 […]
foreign investment
Economy National

Foreign Funding to Indian NGOs Rises Under FCRA

By BPN News Desk
Foreign contributions received by Indian NGOs have increased despite tighter regulations under the Foreign Contribution (Regulation) Act. Government data shows that 16,200 NGOs received ₹22,963 crore in foreign funding during 2024-25, even as the number of organisations holding active FCRA registrations continued to decline. Foreign Funding to NGOs Rises Foreign
income tax
Economy National

Centre Releases ₹1.09 Lakh Crore to States

By BPN News Desk
The Union government has released an additional ₹1,09,019 crore in tax devolution to state governments, providing funds ahead of the regular monthly transfer scheduled for August 10. Centre Releases Advance Tax Devolution The additional instalment was transferred on August 1 to strengthen the financial position of states and help them meet immediate spending requirements.
foreign investment
Economy National

RBI Swap Facility Draws $40.8 Billion

By BPN News Desk
Foreign currency inflows through the Reserve Bank of India’s special swap facility reached $40.816 billion by July 31, nearly doubling from $20.718 billion recorded two weeks earlier. RBI Special Swap Facility Inflows Foreign Currency Non-Resident (Bank), or FCNR(B), deposits accounted for $36.725 billion, representing about 90% of the total funds mobilised through the
rbi sanjay malhotra
Economy National

RBI Dollar Measures Draw $32 Billion Inflows

By BPN News Desk
Reserve Bank of India Governor Sanjay Malhotra has reiterated the central bank’s commitment to financial stability as foreign currency mobilisation measures attract substantial dollar inflows and strengthen India’s balance of payments. RBI Financial Stability Measures Malhotra said Indian banks had raised approximately $32 billion through special foreign currency schemes
RBI
Economy National

RBI Swap Facility Draws $20.72 Billion

By BPN News Desk
The Reserve Bank of India’s concessional foreign-exchange swap facilities attracted $20.72 billion in overseas inflows by July 17, strengthening the country’s external financial buffer as the rupee remained under pressure. RBI swap facility attracts $20.72 billion Banks mobilised approximately $17.41 billion through Foreign Currency Non-Resident Bank deposits under the