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The fall in household savings has been at the heart of recent debates in India. The decline in household savings is brought about by a drastic reduction in net financial savings as the household net financial savings to GDP ratio attained a four-decade low. Figure 1 shows the broad trend in household savings, physical savings…
Image for representation purpose only. | Photo Credit: V. Sudershan India’s net direct tax collections surged by a massive 17.7% year-on-year to ₹19.58 crore in the fiscal year ended March 2024, surpassing even revised estimates by a wide margin, the tax department said on Sunday. Net collections of income and corporate taxes, which make up…
Read More “Direct tax collections exceed estimates in FY24; jump 18% to ₹19.58 lakh crore” »
The story so far: The International Monetary Fund (IMF) released the latest global financial stability report on Tuesday warning about the risks to the global financial system from persistent high inflation, rising lending in the unregulated credit market, and increasing cyber-attacks on financial institutions. What is the IMF’s worry about inflation? The IMF has flagged…
Read More “What is the outlook on the global economy? | Explained” »
“I have leapt off a cliff. I can either grow wings or crash.” This is how a young trainee pilot describes his predicament after spending five years and ₹1.07 crore on learning how to fly, along with a steep employment bond of ₹50 lakh which locks him in for five years with the country’s biggest…
Prakash Kammaradi, Agriculture Economist, at a press conference in Mangaluru on Saturday, April 20. | Photo Credit: H.S. MANJUNATH The government should announce legally backed minimum procurement price for food crops and the Congress and the BJP, two major political parties contesting the Lok Sabha elections, should make their commitment on the same clear, former…
Zomato said it will be filing an appeal against the tax demand order before the appropriate authority. File (representational image) | Photo Credit: Reuters Online food delivery platform Zomato has received a tax demand and penalty order of ₹11.82 crore related to GST on export services provided to its subsidiaries located outside India from July…
Pragya Misra previously worked at Truecaller AB and Meta, per the Bloomberg report. File | Photo Credit: Reuters OpenAI has hired Pragya Misra, 39, its first official in India, in order to handle government relations, reported Bloomberg on Friday, citing an anonymous source. OpenAI has not yet issued an official statement confirming Ms. Misra’s appointment,…
A file photo of Tesla chief Elon Musk. | Photo Credit: Reuters Tesla chief Elon Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi on April 22 and announce plans to enter the South Asian market, three people familiar with the matter said on April 20. “Unfortunately, very…
IMF Managing Director Kristalina Georgieva speaks during a press briefing at the International Monetary and Financial Committee (IMFC) plenary session at the IMF and World Bank’s 2024 annual Spring Meetings in Washington, U.S., April 19, 2024. | Photo Credit: Reuters Shareholders of the International Monetary Fund agreed on the importance of addressing challenges faced by…
Read More “Debt, fiscal challenges facing low-income countries worry IMF” »
The Singapore Food Agency recalled Everest Fish Curry Masala from India alleging the presence of a pesticide. The Centre for Food Safety in Hong Kong on April 18 recalled Everest Fish Curry Masala from India alleging the presence of a pesticide called ethylene oxide at levels exceeding permissible limit. In a statement released, the Singapore…
Read More “Singapore recalls Everest Fish Curry Masala over alleged pesticide content” »