The Central Board of Direct Taxes (CBDT) has announced the availability of functionalities for filing commonly used Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year 2023-24). Taxpayers can now file their ITRs, including ITR-1, ITR-2, ITR-4, and companies’ ITR-6, through the e-filing portal. CBDT had earlier notified the ITR forms,…
India’s Index of Eight Core Industries (ICI) has increased by 6.4%. This growth is attributed to positive performances in the production of coal, natural gas, cement, steel, crude oil, electricity, and refinery products. The ICI, which gauges the combined and individual performance of these industries, is a crucial indicator of the country’s industrial output.” Cement…
The Government e Marketplace (GeM) has concluded the financial year with a remarkable Gross Merchandise Value (GMV) of ₹4 lakh crore, doubling its GMV from the previous fiscal year. This achievement underscores the portal’s advanced digital capabilities, which have enhanced efficiency, transparency, and seamlessness in public procurement. A significant driver behind this growth has been…
The index of mineral production in the mining and quarrying sector for January 2024 (Base: 2011-12=100) is 144.1, which is 5.9% higher compared to January 2023. According to provisional statistics from the Indian Bureau of Mines (IBM), the cumulative growth for the period April-January 2023-24 over the corresponding period of the previous year is 8.3%….
Prime Minister Narendra Modi inaugurated the Start-up Mahakumbh at Bharat Mandapam, New Delhi, calling it a “Mahakumbh in its truest form creating an unprecedented energy and vibe.” The event, witnessing record-breaking participation, serves as a vibrant platform for stakeholders in the Indian startup ecosystem, fostering innovation and entrepreneurship. It hosts over 2000 startups, 1000 investors,…
The procurement of services through the Government e-Marketplace (GeM) has witnessed remarkable growth, soaring from nearly ₹8,500 crore in FY21 to nearly ₹1,82,000 crore in FY24 (as of February 22, 2024) – marking an exceptional increase of nearly 176% from the previous fiscal year. This substantial growth underscores the platform’s increasing role in facilitating government…
The Agricultural and Processed Food Products Export Development Authority (APEDA) has been actively promoting the export of its One District One Product (ODOP) and Geographical Indication (GI) products to new destinations. In an effort to diversify export sources, APEDA has expanded its reach to non-traditional areas and states. Currently, APEDA scheduled products are being exported…
From humble beginnings with exports of USD 0.6 billion in FY 1987-88, the Agricultural and Processed Food Products Export Development Authority (APEDA) has propelled India’s agricultural exports to a remarkable USD 26.7 billion in FY 2022-23. This exponential growth is highlighted by an expanded export basket to over 200 countries, reflecting a remarkable Compound Annual…
Finance Minister Nirmala Sitharaman presented the Interim Budget 2024-25 in Parliament, unveiling the ‘Amrit Kaal’ strategy. She emphasised the government’s commitment to ensuring timely and adequate finances, relevant technologies, and appropriate training for Micro, Small, and Medium Enterprises (MSMEs) to grow and compete globally. Sitharaman highlighted the importance of orienting the regulatory environment to facilitate…
As of January 10, 2024, the provisional figures for Direct Tax collections continue to demonstrate robust growth. Gross Direct Tax collections have reached Rs. 17.18 lakh crore, marking a significant year-on-year growth of 16.77%. Meanwhile, the Net Direct Tax collection, after refunds, stands at Rs. 14.70 lakh crore, showing a substantial year-on-year growth of 19.41%….
