The Reserve Bank of India (RBI) has significantly revised the GDP growth projection for the current fiscal year to 6.6%, down from its earlier estimate of 7.2%. At the same time, the central bank raised the inflation forecast to 4.8%, citing a slowdown in economic activity and persistent food price pressures. India’s GDP growth slumped…
The Permanent Account Number (PAN) has been a cornerstone of India’s financial ecosystem, linking individuals and businesses to key economic activities. To meet evolving digital demands, the government has introduced PAN 2.0, a comprehensive initiative aimed at enhancing user experience and modernizing the nation’s taxpayer services. A Comprehensive Overhaul of PAN/TAN Services With a financial…
Domestic air travel in India reached an unprecedented milestone on November 17, with a record 5,05,412 passengers flying on a single day, the Civil Aviation Ministry reported. This surge, driven by the festive and wedding seasons, underscores the growing demand for air travel in the country. According to the ministry’s data, airlines operated 3,173 flights…
India is poised to emerge among the top 10 global ship manufacturers by 2030, according to Union Minister for Ports, Shipping, and Waterways, Sarbananda Sonowal. Speaking at Sagarmanthan – The Great Oceans Dialogue on Tuesday, Sonowal highlighted India’s ambitions in the maritime sector, emphasizing its strategic importance and potential. “India possesses a rich talent pool…
Aligned with Prime Minister Narendra Modi’s vision of a Viksit Bharat and a digitally empowered economy, the Ministry of Coal has launched the Mine Opening Permission module on the Single Window Clearance System (SWCS) portal. By leveraging digital solutions, it enhances transparency, increases operational efficiency, and significantly reduces processing time, supporting a business-friendly environment that…
India’s foreign exchange reserves saw a decline of USD 3.71 billion, reaching USD 701.18 billion for the week ending October 4., as per RBI. This comes after the reserves had surged by a record USD 12.59 billion in the previous week, hitting an all-time high of USD 704.89 billion. The decline was largely attributed to…
The Reserve Bank of India (RBI) has kept the policy rate unchanged for the tenth consecutive time, while shifting its stance to ‘neutral,’ which may indicate the possibility of rate cuts in upcoming policy announcements. Despite the US Federal Reserve cutting its benchmark rate by 50 basis points last month, along with similar moves by…
The relaunch of The Manager (Global Edition), one of UK’s oldest management magazines, has sparked renewed discussions on reshaping political governance, business, and the economy. Held in India and London simultaneously on the occasion of announcement of “Manager Awards,” the event focused on the urgent need to respond to fast-paced workforce transformation, digital governance, and…
Foreign investors infused over ₹57,000 crore into Indian equity markets in September, marking the highest inflow in nine months. According to data from depositories, foreign portfolio investors (FPIs) invested ₹57,724 crore in equities during the month. Additionally, they invested ₹1,299 crore in the debt markets, bringing the total net investment in Indian capital markets to…
India’s foreign exchange reserves surged by $2.838 billion, reaching a record high of $692.296 billion for the week ending September 20, according to data from the Reserve Bank of India (RBI). This increase follows a $223 million rise in the previous week, bringing the total to $689.458 billion. The growth was driven primarily by a…
