Economy National

GST Council Increases Tax on Used Cars, Clarifies Popcorn Rates

By BPN News Desk December 21, 2024

The Goods and Services Tax (GST) Council has announced significant revisions to tax rates, including an increase in the GST on the sale of used cars. The council also addressed a unique issue regarding the GST on popcorn, with rates now determined based on flavor. These decisions are part of a broader effort to streamline […]

Economy National

India’s Forex Reserves Drop by $1.98 Billion

By BPN News Desk December 20, 2024

India’s foreign exchange reserves saw a decline of $1.98 billion, bringing the total to $652.87 billion as of December 13, according to the Reserve Bank of India (RBI). The latest data highlights a decrease after recent gains in the reserves, underscoring the global economic pressures affecting India’s forex holdings. Components of Forex Reserves The reserves […]

Economy National

FM Nirmala Sitharaman Addresses India’s Q2 Economic Slowdown

By BPN News Desk December 18, 2024

India’s GDP growth rate for the second quarter of the fiscal year stood at 5.4%, falling below earlier projections. However, Finance Minister Nirmala Sitharaman has assured that the slowdown is temporary and does not indicate any long-term issues with the country’s economic health. A Challenging Quarter The second quarter posed several challenges for India’s

Economy National

UPI Processes ₹223 Lakh Crore Transactions in 2023

By BPN News Desk December 14, 2024

Unified Payments Interface (UPI), India’s flagship digital payment platform, recorded an impressive 15,547 crore transactions worth ₹223 lakh crore between January and November 2023. The National Payments Corporation of India (NPCI) revealed these numbers, showcasing the rapid adoption and growth of digital payments in the country. Monthly Transaction Milestones UPI

Economy National

Sensex Surges to 2-Month High Amid Strong FPI Buying

By BPN News Desk December 14, 2024

India’s benchmark stock index, the Sensex, surged over 2,000 points during Friday’s trading session, closing at a two-month high. The rally was fueled by strong foreign portfolio investor (FPI) activity, robust economic indicators, and a positive global sentiment. FPI Buying Drives Market Optimism Foreign portfolio investors played a key role in the market’s remarkable

Economy National

Indian Government Requests Parliamentary Approval for Extra FY25 Spending

By BPN News Desk December 12, 2024

The Indian government has sought Parliament’s approval for additional spending in the fiscal year 2024-25, amounting to ₹4.36 trillion. This proposal is part of the second batch of supplementary demands for grants, reflecting the administration’s efforts to address critical economic and social priorities amid evolving financial challenges. Focus Areas of

Economy National

India Aims to Become $30 Trillion Economy by 2047

By BPN News Desk December 10, 2024

Union Minister Dharmendra Pradhan has announced India’s ambitious goal of becoming a $30 trillion economy by 2047, coinciding with the centenary of the nation’s independence. Speaking at a global business summit, the minister emphasized India’s potential to emerge as a global economic leader through structural reforms, technology-driven growth, and inclusive

Economy National

Foreign Investors Inject Over ₹24,000 Cr into Indian Equities

By BPN News Desk December 10, 2024

Foreign Portfolio Investors (FPIs) have made a strong comeback to the Indian equity markets, infusing ₹24,454 crore in just the first week of December. This marks a significant reversal in investment trends following a net outflow of ₹27,868 crore in the preceding two months, according to official data. The renewed interest in Indian equities aligns […]

Economy National

Foreign Investors Infuse ₹24,000 Crore in Indian Equity Markets in December

By BPN News Desk December 8, 2024

Foreign investors have infused over ₹24,000 crore into the Indian equity markets in December, highlighting renewed confidence in the country’s economic outlook and its capital markets. This marks a significant rebound after a period of subdued activity by Foreign Portfolio Investors (FPIs) earlier this year. Robust FPI Inflows Signal Economic Optimism According to data

Economy National

RBI Adds 27 Tonnes of Gold to Reserves in October

By BPN News Desk December 7, 2024

The Reserve Bank of India (RBI) significantly increased its gold reserves by adding 27 tonnes of gold in October 2024, according to the World Gold Council (WGC). This marks a substantial boost to India’s bullion holdings, reflecting the central bank’s continued strategy to diversify its foreign exchange reserves amidst global economic uncertainties.