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New Delhi, July 1 (SocialNews.XYZ) India's Goods and Services Tax (GST) system has emerged as one of the biggest success stories in the last decade, reflecting a growing formal economy and rising compliance, noted economist and former IMF Executive Director, Dr Surjit Bhalla, said on Tuesday. In an exclusive interaction with IANS, Bhalla highlighted that GST has not only increased tax revenue significantly but has also brought more businesses and individuals under the formal tax net. "The GST ...Read More >
New Delhi, Jul 1 (PTI) Bangladesh made its single largest payment of USD 437 million in June, clearing pending dues, including carrying costs, and issues related to the power purchase agreement, reaffirming the Indian conglomerate's asset as a reliable and cost-competitive power source for meeting the country's growing energy needs, sources said. Bangladesh is now regular in payments. Additionally, an LC (Letter of Credit) worth about two months of billing and sovereign guarantee for all dues a ...Read More >
New Delhi, July 1 (SocialNews.XYZ) Despite global uncertainties, the Indian economy is moving steadily towards sustainable and inclusive growth, Hindustan Unilever (HUL) Chairman Nitin Paranjpe has said. Paranjpe said that although the world is facing confusion and instability, India continues to grow with confidence. "We are building capabilities to meet the needs of a changing and ambitious India. At the same time, we are making sure that this growth is environmentally friendly and includes ...Read More >
Sangareddy (Telangana) [India], July 1 (ANI): Telangana Governor Jishnu Dev Varma has expressed grief over the tragic fire accident that occurred at the Pashamylaram industrial area in Sangareddy district that killed 12 people. The Governor paid condolences to the families of those who lost their lives in the incident and wished a speedy recovery to the injured. Also Read | Rules Changing From July 1, 2025: From LPG Cylinder Prices and Railway Fares to Aadhaar-PAN Link, Check Key Rule Changes ...Read More >
Mumbai: Even as global economic risks mount, India continues to stand out as a key engine of global growth on the back of strong domestic fundamentals and a resilient financial system, RBI governor Sanjay Malhotra said in the central bank's financial stability report."In a world of increasing uncertainty, India remains a key driver of global growth," Malhotra said, highlighting the country's robust demand, prudent policymaking, and macroeconomic stability. While external shocks and climate-relat ...Read More >
New Delhi [India], June 30 (ANI): Prime Minister Narendra Modi's upcoming five-nation tour, beginning on July 2, will see significant advancements in India's bilateral relations with African nations of Ghana and Namibia, including the establishment of a vaccine hub in Ghana and the expansion of the Unified Payments Interface (UPI) in Namibia. During a special briefing by the Ministry of External Affairs, Secretary of Economic Relations, Dammu Ravi, outlined the key agendas during the PM's visit ...Read More >
New Delhi [India], June 30 (ANI): Prime Minister Narendra Modi's upcoming five-nation tour, beginning on July 2, will see significant advancements in India's bilateral relations with African nations of Ghana and Namibia, including the establishment of a vaccine hub in Ghana and the expansion of the Unified Payments Interface (UPI) in Namibia. During a special briefing by the Ministry of External Affairs, Secretary of Economic Relations, Dammu Ravi, outlined the key agendas during the PM's visit ...Read More >
New Delhi [India], June 28 (ANI): India will continue to grow robustly, even among major industrialised G7 countries, the PHD Chamber of Commerce and Industry (PHDCCI) said in a report on 'Population, Productivity, Partnership: Rethinking G7-India Collaboration'. The PHDCCI report added that with an average real GDP growth of more than 8 per cent from 2021 to 2024, India has consistently outpaced all G7 countries: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. ...Read More >
Mumbai, Jun 27 (PTI) India's forex reserves dropped by USD 1.01 billion to USD 697.93 billion for the week ended June 20, the Reserve Bank of India said on Friday. In the previous reporting week, the reserves had jumped by USD 2.29 billion to USD 698.95 billion. Forex reserves had touched an all-time high of USD 704.885 billion in September 2024. Also Read | Ahmedabad Plane Crash Probe: Parliamentary Committee To Grill Boeing and Air India Executives, DGCA Officials; Sources Say 'Multiple Shor ...Read More >
Mumbai, Jun 27 (PTI) India's forex reserves dropped by USD 1.01 billion to USD 697.93 billion for the week ended June 20, the Reserve Bank of India said on Friday. In the previous reporting week, the reserves had jumped by USD 2.29 billion to USD 698.95 billion. Forex reserves had touched an all-time high of USD 704.885 billion in September 2024. For the week ended June 20, foreign currency assets, a major component of the reserves, dropped by USD 357 million to USD 589.06 billion, the data re ...Read More >
While Pakistan is set to chair the Taliban Sanctions Committee of the UN Security Council in 2025, it failed to get what it wanted - to secure chairmanship of other UN Sanctions Committees - possibly due to its dismal record of keeping cross-border terrorism emanating from its soil in check. Apart from chairing the UNSC Taliban Sanctions Committee, Pakistan will also be the vice-chair of the Counter-Terrorism Committee of the 15-nation UN body. According to a list of chairs of the subsidiary bo ...Read More >
New Delhi: India is set to overtake Japan to become the world's fourth-largest economy, but must not become complacent, as the country remains far behind Japan in GDP per capita terms, WEF's former MD Claude Smadja said. According to IMF data dated April 2025, India's GDP per capita of USD 2,878.4 is approximately 8.5 per cent of Japan's GDP per capita of USD 33,955.7, meaning Japan's per capita income is about 11.8 times higher than India's. "Yes, it (economy size) is a good indicator because ...Read More >
New Delhi, Jun 8 (PTI) India is set to overtake Japan to become the world's fourth-largest economy, but must not become complacent, as the country remains far behind Japan in GDP per capita terms, WEF's former MD Claude Smadja said. According to IMF data dated April 2025, India's GDP per capita of USD 2,878.4 is approximately 8.5 per cent of Japan's GDP per capita of USD 33,955.7, meaning Japan's per capita income is about 11.8 times higher than India's. "Yes, it (economy size) is a good indic ...Read More >
New Delhi, Jun 8 (PTI) Aam Aadmi Party's Rajya Sabha MP Sanjay Singh and Delhi unit chief Saurabh Bharadwaj on Sunday visited the demolition site of the Madrasi Camp slum cluster, where they met with displaced residents, and intensified their attack on the BJP over the recent eviction drive. They alleged that Prime Minister Modi's promise to slum dwellers of 'jahan jhuggi wahan makan' - house at the site of their hutment - has "proved to be hollow like many others". There was no immediate resp ...Read More >
New Delhi [India], June 8 (ANI): BJP leader Daggubati Purandeswari, a member of the all-party delegation that visited six countries including the UK, France, Italy, Germany, Denmark, and Belgium said that everywhere they went there was a 'sympathetic response to India's long struggle against terrorism'. Speaking exclusively to ANI about their diplomatic efforts to present India's narrative on terrorism and the significance of Operation Sindoor, Purandeswari said, 'We visited six countries- Pari ...Read More >
New Delhi [India], June 8 (ANI): BJP leader Daggubati Purandeswari, a member of the all-party delegation that visited six countries including the UK, France, Italy, Germany, Denmark, and Belgium said that everywhere they went there was a 'sympathetic response to India's long struggle against terrorism'. Speaking exclusively to ANI about their diplomatic efforts to present India's narrative on terrorism and the significance of Operation Sindoor, Purandeswari said, 'We visited six countries- Pari ...Read More >
New Delhi [India], June 8 (ANI): BJP MP Gulam Ali Khatana, who was part of the all-party parliamentary delegation to Europe, said that during their recently conclued visit they successfully communicated India's development story and its resolute stand against terrorism, particularly emanating from Pakistan. Highlighting the delegation's key discussions during the tour, Khatana told ANI, 'We discussed how we dismantled the terrorism factory in Pakistan by responding... We also talked about touri ...Read More >
New Delhi [India], June 8 (ANI): The All-Party Delegation (Group 2) led by BJP MP Ravi Shankar Prasad returned to the national capital after a diplomatic tour of six key European countries focusing on the issue of terrorism. Apart from Prasad the delegation comprised BJP MPs Daggubati Purandeswari, Samik Bhattacharya, Shiv Sena (UBT) MP Priyanka Chaturvedi, Congress MP Amar Singh, nominated MP Ghulam Ali Khatana, former minister MJ Akbar, and Ambassador Pankaj Saran. Speaking to ANI after the ...Read More >
New Delhi [India], June 8 (ANI): The All-Party Delegation (Group 2) led by BJP MP Ravi Shankar Prasad returned to the national capital after a diplomatic tour of six key European countries focusing on the issue of terrorism. Apart from Prasad the delegation comprised BJP MPs Daggubati Purandeswari, Samik Bhattacharya, Shiv Sena (UBT) MP Priyanka Chaturvedi, Congress MP Amar Singh, nominated MP Ghulam Ali Khatana, former minister MJ Akbar, and Ambassador Pankaj Saran. Also Read | 'Baseless and ...Read More >
Hyderabad: Prime Minister Narendra Modi on Friday said he would participate in the G7 Summit in Kananaskis later this month and thanked Canadian Prime Minister Mark Carney for inviting him. Taking to his X handle, PM Modi wrote India and Canada will work together with renewed vigour, guided by mutual respect and shared interests. "Glad to receive a call from Prime Minister @MarkJCarney of Canada. Congratulated him on his recent election victory and thanked him for the invitation to the G7 Summ ...Read More >
NEW DELHI, June 6 (Xinhua) -- India's foreign exchange reserves declined by 1.24 billion U.S. dollars to 691.49 billion dollars during the week ended May 30, showed the weekly data released by the country's central bank, the Reserve Bank of India (RBI), on Friday. In the preceding week, the country's forex reserves had increased by nearly 7 billion U.S. dollars. According to RBI Governor Sanjay Malhotra, the forex reserves were robust and sufficient to cover more than 11 months of goods import ...Read More >
MUMBAI, June 6 (Reuters) - India's foreign exchange reserves (INFXR=ECI), opens new tab stood at $691.5 billion as of May 30, the governor of the country's central bank said on Friday, down $1.2 billion from the previous week and coming off near-eight month highs. The country's FX reserves are now about $13.4 billion below their all-time high hit in September 2024. "These (reserves) are sufficient to fund more than 11 months of goods imports and about 96% of external debt outstanding," Reserve ...Read More >
MUMBAI (Reuters) -India's foreign exchange reserves stood at $691.5 billion as of May 30, the governor of the country's central bank said on Friday, down $1.2 billion from the previous week and coming off near-eight month highs. The country's FX reserves are now about $13.4 billion below their all-time high hit in September 2024. "These (reserves) are sufficient to fund more than 11 months of goods imports and about 96% of external debt outstanding," Reserve Bank of India Governor Sanjay Malho ...Read More >
New Delhi, May 27 (SocialNews.XYZ) With India on the brink of becoming the world's fourth-largest economy, the milestone will boost the country's manufacturing and medical technology sector, according to the Association of Indian Medical Device Industry (AiMeD) on Tuesday. NITI Aayog on Monday said India is set to become the fourth largest economy in the world by overtaking Japan by the end of 2025. The International Monetary Fund (IMF), in its World Economic Outlook (WEO) report released in A ...Read More >
Kuwait/Hyderabad, May 27 (Maxim News) AIMIM chief Asaduddin Owaisi sharply criticised Pakistan Army Chief Gen. Asim Munir for presenting a fake photo of a military operation to Prime Minister Shehbaz Sharif. Here To Join Us On WhatsApp Speaking to the Indian diaspora in Kuwait, alongside BJP MP Baijayant Panda, Owaisi mocked Pakistan's "desperate PR tactics" and accused Islamabad of supporting terror networks through illicit funding. "Yesterday, the Pakistani Army Chief gave a photo to the PM ...Read More >
NEW DELHI: Despite the setback in the IMF, where India failed to stop the multilateral agency from extending a loan of $2.4 billion to Pakistan, the Indian government would continue to oppose access of funding from these agencies. The Indian government is going to oppose the World Bank's decision to fund Pakistan's development programme when the matter comes up for discussion next month, a top government source told TNIE. The World Bank is likely to discuss a $20 billion lending package for Paki ...Read More >
New Delhi, May 20 (PTI) British star Simon Pegg says he has nothing but gratitude for being a part of a blockbuster franchise like "Mission: Impossible" for 20 years. Pegg has appeared in six "Mission Impossible" movies so far since 2006's "Mission: Impossible III". His character of Benji Dunn had an interesting journey in the world of MI where he started as an technician at the Impossible Task Force (IMF), providing crucial technical support to Tom Cruise's Ethan Hunt. Over the years, Benji ...Read More >
New Delhi, Jan 31 (PTI) The golden era of globalisation probably disappearing amid geopolitical and policy uncertainties, resulting in the economic growth slowdown, Chief Economic Adviser V Anantha Nageswaran said on Friday. India's economy is likely to expand by 6.3-6.8 per cent in the coming fiscal, much lower than what is needed to become a developed country, and requires deregulation and reforms in areas like land and labour to stimulate growth, according to the government's pre-Budget Econ ...Read More >
New Delhi, Jan 17 (UNI) The International Monetary Fund (IMF) on Friday lowered India's gross domestic product (GDP) growth forecast for financial year 2024-25 or FY25 to 6.5% from 7% estimated earlier. In its January 2025 edition of the World Economic Outlook (WEO) Update released today, the multilateral agency kept the GDP growth forecast for FY26 and FY27 at 6.5%. The IMF noted that growth in India during the current fiscal has slowed more than expected, led by a sharper-than-expected decel ...Read More >
New Delhi, Dec 11 (PTI) India's maritime sector is poised to play a transformative role in the country's vision of becoming world's third-largest economy, Vice President Jagdeep Dhankhar said Wednesday. Today, India stands as an emerging maritime powerhouse, strategically leveraging its geographical location and advanced infrastructure to spearhead global maritime initiatives, the Vice President said. "With the global blue economy projected to reach USD 6 trillion by 2030, India's maritime sec ...Read More >
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