Economy National

Govt to Soon Approve Rs 100 Crore MSME Credit Guarantee Scheme: FM

By BPN News Desk November 10, 2024

Union Finance Minister Nirmala Sitharaman announced that the Rs 100 crore credit guarantee scheme for Micro, Small, and Medium Enterprises (MSMEs), introduced in this year’s budget, will soon be presented to the Union Cabinet for approval. Addressing the National MSME Cluster Outreach Programme, Sitharaman emphasized the scheme’s potential to support MSMEs during

Economy National

Indian Army Successfully Resumes Patrolling in Disengaged Depsang Area

By BPN News Desk November 5, 2024

The Indian Army successfully conducted a patrol in the Depsang area of eastern Ladakh on Monday, just days after completing troop disengagement with China at Depsang and Demchok, two key friction points along the Line of Actual Control (LAC). The Indian patrol in Depsang marks a continuation of the efforts that began last week with […]

Economy National

India Expected to Rank as World’s Fourth Largest Economy by 2025

By BPN News Desk November 3, 2024

According to a recent International Monetary Fund (IMF) report, India is set to become the fourth largest economy globally by the fiscal year 2025, surpassing Japan. This projection follows India’s recent rise to the fifth spot among the world’s fastest-growing economies, with a GDP estimated at $4.34 trillion. United States Maintains Lead Among Top Global […]

Economy National

October GST Revenue Hits Second-Highest at Rs 1.87 Lakh Crore

By BPN News Desk November 2, 2024

The Goods and Services Tax (GST) revenue for October surged to Rs 1.87 lakh crore, recording the second-highest monthly collection since the GST regime’s inception in 2017. Driven by heightened festival demand, the October figure shows an 8.9% increase compared to the Rs 1.72 lakh crore collected in October 2023. This follows the record GST […]

Economy National

RBI Governor: Future of Money Is Digital, CBDCs Key to Global Payments

By BPN News Desk October 28, 2024

At the G30 Annual International Banking Seminar in Washington DC, Reserve Bank of India (RBI) Governor Shaktikanta Das stressed that the future of money must be digital, particularly through Central Bank Digital Currencies (CBDCs). Speaking at a panel discussion on the future of money and payments, Das urged for multilateral cooperation to facilitate cross-border payments

Economy National

FM Sitharaman Calls for Increased Support for African Nations from G7 and G20

By BPN News Desk October 27, 2024

Union Finance Minister Nirmala Sitharaman urged the G7 and G20 countries to intensify their support for African nations, with a particular focus on infrastructure development, healthcare, and long-term financial resilience. Speaking at the G7 African Ministerial Roundtable, Sitharaman underscored India’s ongoing commitment to Africa, aligned with the 10 guiding principles

Economy National

RBI Governor Das Predicts Inflation Moderation by Q4 Amid Global Risks

By BPN News Desk October 26, 2024

Reserve Bank of India (RBI) Governor Shaktikanta Das projected a gradual moderation in inflation from the last quarter of the ongoing financial year but cautioned against potential risks posed by escalating global geopolitical conflicts and unexpected weather events. Speaking at an event in Mumbai organized by the Peterson Institute for International Economics (PIIE), Das

Economy National

Income Disparity Down 74.2% Since FY14, Direct Tax Share at 14-Year High: SBI Study

By BPN News Desk October 26, 2024

A new report by the State Bank of India (SBI) highlights a significant reduction in income disparity and a surge in direct tax collections over the past decade. According to the report, income disparity for individuals earning up to Rs 5 lakh annually has declined by 74.2% between fiscal years 2013-14 and 2022-23, signaling positive […]

Economy National

RBI Brings Back 100 Tonnes of Gold from UK, Boosting India’s Financial Security

By BPN News Desk October 24, 2024

In a major financial development, the Reserve Bank of India (RBI) has repatriated 100 tonnes of gold from the United Kingdom, marking the largest such transfer since 1991. This strategic move signals a shift in how India is managing its gold reserves, enhancing the country’s financial security while reflecting its growing economic strength. The significance […]

Business Economy National

RBI Keeps Repo Rate Steady at 6.5%, Shifts Policy Stance to ‘Neutral’

By BPN News Desk October 9, 2024

RBI maintains status quo on repo rate; MPC revises policy stance to ‘neutral’ as inflation and growth projections remain steady. In its latest monetary policy meeting held from October 7 to 9, 2024, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 6.5% for the tenth […]