Government Infuses ₹500 Crore in IFCI to Boost Financial Health The Government of India has recently infused ₹500 crore into the Industrial Finance Corporation of India (IFCI) as part of a strategic effort to strengthen the financial health of this state-owned financial institution. The move comes amid efforts to support the financial sector, especially public…
Sri Lanka’s Central Bank Eases Monetary Policy to Support Economic Recovery In a bid to support the country’s economic recovery, Sri Lanka’s Central Bank has decided to ease its monetary policy. The bank has reduced interest rates and adopted measures aimed at boosting economic activity, which has been significantly impacted by the economic crisis. These…
India’s Unemployment Rate Drops to 6.4% in Q2: A Positive Economic Indicator India’s unemployment rate has significantly decreased to 6.4% during the second quarter of 2024, according to the latest data from the Centre for Monitoring Indian Economy (CMIE). This marks a notable improvement compared to previous months, suggesting positive trends in India’s labor market….
Surge in GST Collections: October Sees 8.9% Year-on-Year Growth In October 2024, India witnessed a notable surge in Goods and Services Tax (GST) collections, which reached a remarkable ₹1.87 lakh crore. This represents an 8.9% increase compared to the same month last year. The growth in GST revenue is indicative of the robust economic recovery…
Employment in India Up by 36%: Government Reports Overview of the Employment Increase Recent statistics released by the Government of India indicate a remarkable 36% increase in employment opportunities across various sectors. This report highlights significant recovery and growth in the job market, largely attributed to government initiatives aimed at stimulating economic growth and job…
GST Collections Surge by 10% to ₹1.75 Lakh Crore in August Introduction to the Surge in GST Collections In August 2024, India’s Goods and Services Tax (GST) collections experienced a significant increase of 10%, reaching ₹1.75 lakh crore. This growth highlights the robustness of the Indian economy and the effectiveness of the tax system in…
Fast-Tracking BIMSTEC Free Trade Agreement Introduction to BIMSTEC The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization that includes countries from South Asia and Southeast Asia. This group comprises Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. The BIMSTEC Free Trade Agreement (FTA) aims to enhance trade…
Madhya Pradesh Tops in PM SVANidhi Scheme as Best Performing State Introduction Madhya Pradesh has been recognized as the best-performing state under the PM SVANidhi scheme. This achievement highlights the state’s commitment to empowering street vendors and boosting their economic prospects through this micro-credit scheme. Let’s delve into the details of this notable accomplishment and…
RBI Ups Financial Accommodation for States, UTs by 28% to ₹60,118 Crore The Reserve Bank of India (RBI) has announced a significant increase in financial accommodation for states and union territories (UTs), raising the limit by 28% to ₹60,118 crore. This move aims to provide crucial financial support amidst ongoing economic challenges. The enhanced liquidity…
Tata Motors Partners with Bajaj Finance to Enhance Dealer Financing Options Tata Motors, one of India’s leading automobile manufacturers, has recently entered into a strategic partnership with Bajaj Finance to bolster its dealer financing options. This collaboration aims to provide enhanced financial solutions to Tata Motors’ dealer network across the country. The partnership entails Bajaj…
