Economy National

Centre Announces Rs 70,000 Crore Capex Boost for States

By BPN News Desk November 15, 2024

The Union government plans to release Rs 50,000 to Rs 70,000 crore to states in the third quarter of FY25 under its ‘special assistance for capital investment’ scheme. This initiative aims to rejuvenate state capital expenditure, particularly on infrastructure projects, following slowdowns in the first half of the financial year due to general elections.

Economy National

India’s Net Direct Tax Collection Climbs 15.4% to ₹12.1 Trillion

By BPN News Desk November 12, 2024

India’s net direct-tax revenue surged by 15.4% to ₹12.1 trillion in the current fiscal year, according to a report from the Central Board of Direct Taxes (CBDT). This figure accounts for refunds, marking a significant growth attributed to efficient tax collection and compliance measures. The CBDT disclosed that gross direct-tax collections before refunds grew by […]

Economy National

MSMEs to Access Collateral-Free Loans up to Rs 100 Crore: Finance Minister

By BPN News Desk November 12, 2024

Union Finance Minister Nirmala Sitharaman announced on Saturday that India’s Micro, Small, and Medium Enterprises (MSMEs) will soon have access to collateral-free loans of up to Rs 100 crore, enabled by a new credit assessment model developed by public sector banks. Speaking at the National MSME Cluster Outreach Programme in Bengaluru, she highlighted the initiative […]

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