Union Budget 2023: GST Collection at Nearly Rs 1.56 Lakh Crore in January The Goods and Services Tax (GST) is an indirect tax that was introduced in India in 2017 to replace multiple indirect taxes. It has been one of the major sources of revenue for the central and state governments. The Union Budget 2023…
Economic Survey 2021-22: Meaning, Importance, and Highlights The Economic Survey 2021-22, tabled in Parliament on January 31, 2022, is an important document that highlights the economic performance of the country over the past year and outlines the roadmap for the upcoming financial year. The survey is an annual exercise undertaken by the Ministry of Finance,…
National Startup Day 2023: Significance and History National Startup Day is celebrated every year in India on April 19 to recognize and encourage the entrepreneurial spirit of the country. The day celebrates the startups and small businesses that have the potential to transform India’s economy and create jobs for its people. It also highlights the…
Forex Reserves at $562.9 Bn, Fall by $70 Bn in 2022 India’s foreign exchange (Forex) reserves fell by $70 billion to $562.9 billion in the week ended March 25, 2022, due to a decline in foreign currency assets (FCA). FCA, which is the largest component of reserves, fell by $68.6 billion to $521.7 billion during…
Indian Auto Market Surpasses Japan to Become 3rd Largest Auto Market Globally India has surpassed Japan to become the third-largest auto market globally, according to a recent report by JD Power. The report states that India’s auto market witnessed a 7.4% decline in 2020 due to the COVID-19 pandemic, with total sales amounting to 2.15…
