The government plans to grant a ₹35,000 crore subsidy to IOC, BPCL, and HPCL to offset losses from selling domestic LPG at regulated prices. Despite rising input costs, the companies have kept LPG prices unchanged at ₹803 per cylinder since March 2024, resulting in under-recoveries of about ₹40,500 crore for the current fiscal year. The […]
India’s GDP growth projected to hit a 4-year low of 6.4% in FY25.
India’s GDP growth is projected to slow to 6.4% in FY25, a four-year low compared to 8.2% in FY24, according to government estimates. This falls short of the Reserve Bank of India’s revised projection of 6.6% for the fiscal year ending March 2025. The National Statistical Office (NSO) also estimates a 6.4% growth in real […]
Budget 2025: Investment in country roads could boost the economy.
As preparations for Budget 2025 gain momentum, Finance Minister Nirmala Sitharaman and her team are set to introduce measures aimed at boosting India’s economic resilience and promoting inclusive growth. A major focus area is expected to be rural infrastructure, particularly roads. The government is likely to increase the allocation for rural road development by about […]
PAN 2.0: CBDT announces free e-PAN updates; details here.
The central government has launched PAN 2.0, an upgraded version of the Permanent Account Number (PAN) system, aimed at enhancing taxpayer services in India. This e-governance initiative seeks to modernize the taxpayer registration process through technology. PAN 2.0 will completely replace the existing PAN/TAN 1.0 system, streamlining essential and additional PAN/TAN functions, including PAN validation […]
RBI MPC keeps repo rate at 6.5%, revises GDP and inflation forecasts.
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 6.5% for the 11th consecutive meeting, with a 4:2 vote, citing concerns over inflation and uncertain growth. The RBI maintained its ‘neutral’ stance, moving away from the previous ‘withdrawal of accommodation’ stance. RBI Governor Shaktikanta Das noted […]
After a two-year pause, SoftBank is reshaping its strategy in India.
During quarterly earnings call earlier this month, Yoshimitsu Goto, CFO of Japan’s SoftBank Group, shared the company’s updated investment strategy. After two years in “defensive mode,” SoftBank, one of the world’s leading tech investors, is now set to increase its investment activity. The focus remains on artificial intelligence (AI), as it has been for the […]
India’s GDP growth slows to 5.4% in Q2 FY25 due to weak consumption.
India’s GDP growth slowed to 5.4% in Q2 FY25, down from 8.1% in the same period last year and 6.7% in the previous quarter, as per government data. Economists had forecasted growth of 6.5%, lower than the RBI’s 7% estimate. Sector-wise, Real Gross Value Added (GVA) grew by 5.6%, down from 7.7% last year. Key […]