BUSINESS
Big Boost to Economy | GST collection for May 2024 at Rs 1.73 lakh crore, up 10 per cent YoY
Looking at the broader picture, the gross GST collections for the fiscal year 2024-25, up to May, amounted to Rs 3.83 lakh crore, demonstrating a commendable 11.3 percent year-on-year increase, as disclosed by the Ministry of Finance.
India gets highest FDI from Singapore in 2023-24, Mauritius at second spot
Although there was a decline of 31.55% in FDI from Singapore, amounting to USD 11.77 billion in the mentioned fiscal year, India still stood out as the top recipient of investments from the island nation, as revealed by the data.
Gautam Adani overtakes Mukesh Ambani to become Asia's richest person once again
Adani's net worth has reached USD 111 billion, positioning him as the world's 11th wealthiest individual, according to the Bloomberg Billionaires Index, . Ambani's fortune, on the other hand, stands at USD 109 billion, placing him at the 12th spot globally.
Core Sector Industries Report 6.2% Growth in April 2024
Electricity generation rose 9.4 percent in April year-on-year. The cumulative index of electricity for the fiscal year 2023-24, until March 31, rose 7.1 percent over the corresponding period of the previous year.
Massive Boost to Economy: India clocked 8.2% GDP growth in FY24, 7.8% growth registered in Q4
This high growth rate has been primarily driven by robust performances in the manufacturing and mining sectors. The manufacturing sector witnessed a remarkable turnaround with a 9.9 percent growth in 2023-24, up from a contraction of -2.2 percent in the previous fiscal year.
RBI Forecasts 7% Growth, Bright Future for Indian Economy in 2024-25
In fact, it was the third consecutive year of growth at 7 percent or higher, reflecting sustained momentum. The report further said this was underpinned by continued strengthening of macroeconomic fundamentals, buoyant financial and corporate sectors, and resilience in the external sector, which have been the drivers of growth going into the next fiscal.
'Totally False': Adani Group refutes reports of acquiring stake in Paytm
“We categorically deny this baseless speculation. It is totally false and untrue,” a spokesperson for the Adani Group stated.
IMF revises China’s GDP growth to 5% in 2024, says growth may decelerate to 3.3% by 2029
“China's economic growth is projected to remain resilient at 5 per cent in 2024 and slow to 4.5 per cent in 2025,” stated Gita Gopinath, the IMF's First Deputy Managing Director, following the IMF's annual review of China's economic policies.
Good News for Economy: S&P upgrades India's outlook from stable to positive citing strong growth prospects, increased public spending
While maintaining India's sovereign rating at 'BBB-', the lowest investment grade, S&P emphasized expectations of consistent economic reforms and fiscal policies, regardless of the upcoming election results, which will be announced on June 4.
Explain how ICICI engaged recovery agents in loan case despite bar by SC: Allahabad High Court to bank Chairman
While hearing a petition by Jasminder Chahal and three others, all employees of ICICI, Justice Prashant Kumar pointed out, “The officers of the ICICI Bank were very well aware of the fact that they cannot engage any recovery agent, and yet they engaged the services of recovery agents in the year 2013, which is six years after passing of the judgment by the Supreme Court”.
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