India’s GDP leaps 20.1 per cent in June quarter despite pandemic led disruptions

As per the data released by Ministry of Statistics and Programme Implementation, India’s Gross Domestic Product (GDP) has taken a big leap forward. The GDP has surged to 20.1 per cent in April-June quarter which is a positive sign in terms of country’s economy. In the first quarter the GDP was estimated to Rs 32.38 […]

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Digital payments take a quantum leap due to sustained efforts towards digitalisation

Pankaj Chaudhary, Minister of State for Finance, informed that total volume of digital payments have increased to 4371.18 crore in January 2021 from Rs 1459.02 crore in 2017-18 due to the government’s continuous efforts towards digitalisation. The minister informed,  in a written reply to a question in Lok Sabha, that the quantum of the bank […]

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ICRA forecasts the government set to exceed this fiscal’s budgeted tax collection target

Investment Information & Credit Rating Agency (ICRA) Limited expects the government is all set to exceed its target of budgeted tax collection of Rs 22.2 lakh crore led by indirect taxes in the current fiscal. Last year the government was successful in collecting 20.2 lakh crore rupees as tax and it looks forward to achiheve […]

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CII supports the production linked initiative scheme for the manufacturing of steel

Recently the union cabinet has approved production linked incentive scheme for speciality steel and the Confederation of Indian Industry (CII) has welcomed it. TV Narendren, President, CII said the decision will drive global competitiveness of Indian manufacturers besides boosting investment in high grade steel sector. Chandrajit Banerjee, DG, CII said the initiative will lend strength […]

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Tata Steel Mining and Jindal Stailess join hands for Chrome Ore mining in Odisha

An MoU has been signed between Tata Steel Mining Limited (TSML) and Jindal Stainless Limited (JSL) for joint mining of the Chromite Ore locked up in the boundary between their mines located in Sukinda of Jajpur district, Odisha. The initiative will also help in the conservation of Chromite Ore which would have been forever left […]

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India Gains Fifth Position In The World In Forex Reserves

After China, Japan, Switzerland and Russia, India has gained the position of fifth largest foreign exchange reserves holder in the world. The country has accumulated $608.99 billion as forex reserves on June 25. Pankaj Chaudhary, Minister of State for Finance, informed this adding that the position of the country’s foreign exchange reserves is comfortable in […]

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Exports of engineering goods in India registered 52.4% growth last month

Exhibiting a positive growth, merchandise exports in the month of June 2021 registered a commendable 52.4% growth in comparison to the same period last year. Engineering exports rose to USD 8903.5 million in June 2021 which was USD 6274.9 Million in the same month last year. Among the exported products included the products of Copper, […]

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Government collects record Rs 92,849 crore as Gross GST revenue in June 2021

Despite the second wave of COVID the Government has achieved commendable gross GST revenue collection amounting to Rs 92,849 in June and out of this amount CGST collection stood at Rs 16,424 crore while total SGST collection has been Rs 20,397 crore, while IGST collection has been Rs 49,079 crore and Cess amount has been […]

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