Economy National

India Poised to Surpass Japan as Fourth-Largest Economy

By BPN News Desk March 4, 2025

India is on the verge of a significant economic milestone, with projections indicating it will surpass Japan to become the world’s fourth-largest economy by 2025. This anticipated shift underscores India’s rapid economic growth and its increasing prominence on the global stage. India’s Accelerated Economic Growth In recent years, India has experienced

Economy National

All Government Scheme Funds to Route via Single Nodal Agency

By BPN News Desk March 3, 2025

In a significant move to enhance financial efficiency and transparency, Finance Minister Nirmala Sitharaman has mandated that, starting from the next fiscal year, all government scheme and project funds will be routed through a single nodal agency (SNA). This directive aims to streamline fund flow, reduce redundancies, and ensure better fiscal management across various

Economy National

World Bank Advises India to Reduce Tariffs and Implement Reforms to Boost Investment

By BPN News Desk March 2, 2025

The World Bank has emphasized the need for India to lower import tariffs and introduce regulatory reforms to attract foreign investment and drive economic expansion. High tariffs, particularly on intermediate and capital goods, coupled with complex trade barriers, have contributed to increased trade costs, limiting the country’s integration into global markets. High

Economy National

India’s Nominal GDP Nears $4 Trillion Mark, Projected to Surpass Milestone by FY25

By BPN News Desk March 1, 2025

India’s nominal Gross Domestic Product (GDP) has reached ₹331 lakh crore, approximately $3.94 trillion, reflecting the nation’s steady economic expansion. This growth trajectory positions India to surpass the $4 trillion mark by the end of the current fiscal year (FY25). Economic Growth Trajectory Over the past decade, India has risen from the tenth-largest to

Economy National

RBI Reports 98.18% Return of ₹2,000 Banknotes

By BPN News Desk March 1, 2025

The Reserve Bank of India (RBI) has confirmed that 98.18% of the ₹2,000 denomination banknotes have been returned to the banking system. As of February 28, 2025, ₹6,471 crore worth of these high-denomination notes remain in circulation. Withdrawal Announcement and Implementation The RBI had announced the withdrawal of ₹2,000 banknotes from circulation in May 2023 […]

Economy National

India’s Path to High-Income Status by 2047: World Bank Insights

By BPN News Desk March 1, 2025

India has the potential to achieve high-income status by 2047, according to a new report outlining the necessary reforms and strategies. To reach this milestone, the country must sustain an annual GDP growth rate of 7.8% over the next two decades, building on its historical growth trajectory. The report highlights the crucial need for structural […]

Economy National

World Bank Lauds India’s Economic Resilience Amid Global Challenges

By BPN News Desk February 27, 2025

The World Bank has acknowledged India’s strong economic performance, describing it as a “shining light in the world” and “the best place to invest.” This recognition comes amid global economic uncertainties, positioning India as a key attraction for investors and policymakers. India’s Economic Growth Amidst Global Slowdown Despite the

Economy National

Centre Proposes Reduction in States’ Tax Share from FY27

By BPN News Desk February 27, 2025

The central government is reportedly considering a reduction in the tax revenue share allocated to states, starting from the fiscal year 2026-27. This proposal, if implemented, could have far-reaching implications for state finances and their ability to fund various developmental projects. Proposed Changes in Tax Revenue Distribution Currently, states receive 42% of the

Economy National

World Bank Affirms India’s Position as Fastest-Growing Major Economy

By BPN News Desk February 25, 2025

The World Bank has reaffirmed India’s status as the world’s fastest-growing major economy, projecting a growth rate of 7% for the current fiscal year. This forecast underscores India’s resilience and its significant role in driving global economic momentum. Prime Minister Modi Highlights Economic Resilience Prime Minister Narendra Modi addressed the

Economy National

RBI Projects Robust Economic Growth for India

By BPN News Desk February 23, 2025

The Reserve Bank of India (RBI) has projected that India will sustain its status as the fastest-growing major economy in the fiscal year 2025-26, anticipating a GDP growth rate of 6.7%. This optimistic outlook is attributed to several factors, including increased rural demand, tax relief measures introduced in the Union Budget, and a recovery in […]