India is on Track to Become the World’s Third-Largest Economy by 2031
India is on its way to becoming the third-largest global economy by 2030-31, driven by a projected 6.7% annual growth rate, according to S&P Global India. In 2024, India is already the fastest-growing large economy, with an 8.2% GDP growth rate, exceeding previous estimates Read more
British Debt Hits 100% of GDP: Challenges for Finance Minister Rachel Reeves
The UK’s public debt has reached 100% of its GDP, the highest since records began in 1993. This surge pressures Finance Minister Rachel Reeves as she prepares her October 30 budget. Public sector net debt, excluding public sector-owned banks, rose from 99.3% in July, marking the first time the debt ratio has reached this level since the early 1960s when the country was still grappling with World War II’s financial consequences.... Read more
India holds the top position for highest remittances with a unique record, according to said International Organisation for Migration.
The International Organization for Migration (I.O.M) has placed India in the top spot, as per its latest World Migration report (2024). The nation has received a record sum of $111.22 billion in remittances thereby emerging as the first country to cross the $100 billion mark... Read more
SEBI refines mutual fund laws to prevent tail-gating by portfolio management companies
The Securities Exchange Board of India has authorized the modifications made to Sebi (Mutual Funds) Regulations, 1996 to curb the practices of forward-trading (front-running) in portfolio managing companies.. Read more
Government Withdraws Tax Relief for FPIs in Mauritius following Tax Treaty Revision.
A pact validated by India and Mauritius jointly on March 7 called for the end of tax reliefs enjoyed by Foreign Portfolio Investors (FPIs) from Mauritius, with the modifications catching the public eye only on April 10. Read more
1.05 billion tons of food wasted, says UNEP
The United Nations Environment Programme (UNEP) working in close association with the British NGO Wrap has found some alarming trends based on how food waste is handled globally. Approximately 785 million people face chronic starvation while households form the biggest group of food disposers (631 million tonnes). Read more
Direct tax collection hits Rs15.60 lakh crore, reaching 80% of the revised target for FY24.
Up to this point in the current fiscal year, there has been a 20% increase in net direct tax collection compared to the previous year, with a total of Rs.15.60 lakh Crore, considering 80% of the revised budget projections for the whole fiscal year. Read more
India and South Africa express contrasting views to the WTO investment agreement held in Abu Dhabi
At the recently concluded meeting of the World Trade Organization (WTO) in Abu Dhabi, India and South Africa indicated their disapproval of an investment agreement, hampering its adoption. A move of this nature will seriously affect the financing projections, costing billions of dollars. Read more
Popular card networks under RBI’s scanner
The Reserve Bank of India has recently issued a notice to a widely renowned card network provider, emphasizing on suspending all transactions using business cards for unauthorized payments made using unregistered entities. The order was announced by RBI after it discovered that Section 4 of the Payment and Settlement Systems (PSS) Act, 2007 was violated. Read more
BUDGET EXPLAINER- Expectations on Railways
India’s railways stand as one of the few sectors that has benefitted immensely from the Union Budget 2023. It received a whopping allocation of approximately Rs 2.5 lakh crores, a significant improvement since 2013 when it received Rs. 26,000 crores. A wide range of works which includes renovating various stations, assembling newer tracks, and launching Vande Bharat trains have resulted in a tremendous jump in the prices of rail stocks. Read more
BUDGET EXPLAINER- Mutual Funds - Expectations
Mutual funds (MFs) have gained significant attention over the last decade and a wider share of the Indian middle class have not just preferred saving money alone but rather engage more actively by investing in low-risk funds. The risk tolerance of a larger share of the population has improved significantly despite the economic shifts that occurred during this period.