India’s Index of Industrial Production (IIP) showed a growth of 5.7% in February 2024, according to the quick estimates released by the government. The IIP, based on the 2011-12 base year, stood at 147.2 for the month. These estimates are typically released on the 12th of every month, with a six-week lag, and are compiled…
The Central Board of Direct Taxes (CBDT) has clarified recent media reports claiming a special drive to reopen cases related to House Rent Allowance (HRA) claims, stating that such reports are inaccurate and misleading. The CBDT emphasized that there is no special drive to re-open cases of mismatch, and reports suggesting otherwise are completely baseless….
President of India, Droupadi Murmu, launched India’s first home-grown gene therapy for cancer at IIT Bombay. In her address, the President highlighted that the launch of India’s first gene therapy marks a significant breakthrough in the fight against cancer. Named “CAR-T cell therapy”, this treatment is not only accessible and affordable but also provides new…
The Ministry of Mines has reported a remarkable increase in the production of key minerals and aluminium metal in the mining sector for the fiscal year 2023-24. According to the data, the index of mineral production for February 2024 stood at 139.6, marking an 8.0% increase compared to February 2023. The cumulative growth of this…
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,…
In a significant milestone, India’s defence exports have reached an all-time high of Rs 21,083 crore (approximately US$ 2.63 Billion) in the Financial Year (FY) 2023-24, marking a substantial 32.5% increase from the previous fiscal’s figure of Rs 15,920 crore. This growth trajectory underscores a remarkable 31-fold increase in defence exports over the past decade,…
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 Employees’ Provident Fund Organisation (EPFO) saw a significant increase in its membership, with 16.02 lakh net members added in January 2024, as per the provisional payroll data released on 24th March 2024. Among the new members, 8.08 lakh enrolled during the month. An interesting trend observed in the data is the dominance of the…
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%….
