Economy Current Affairs

Digital Payment Transactions Grow by 46% from FY 2021-22 to FY 2023-24

In India, digital payment transactions jumped from 8,839 crore in FY 2021-22 to an impressive 18,737 crore in FY 2023-24, reflecting a remarkable 46% CAGR (Compound Annual Growth Rate). A significant part of this growth can be attributed to the Unified Payments Interface (UPI), which experienced a phenomenal CAGR of 69%, reaching 13,116 crore transactions […]

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Holi Boosts Indian Economy: Traders Expect ₹60,000 Crore in Sales

The Holi festival has once again proven to be a major economic force for traders and businesses across India. According to the Confederation of All India Traders (CAIT), this year’s Holi sales are expected to exceed ₹60,000 crore, which is a 20% increase from last year’s ₹50,000 crore. The demand for Indian-made herbal colors, gulal,

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India’s Circular Economy: A $2 Trillion Market and 10 Million Jobs by 2050

India’s circular economy is expected to create over $2 trillion in market value and generate nearly 10 million jobs by 2050, as stated by Union Minister Bhupender Yadav. During his address at the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, he highlighted that this shift towards a circular economy marks

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Centre’s Proposal to Reduce States’ Share of Central Taxes from 2026

The Union government is considering a reduction in the share of central tax revenues allocated to states, from the current 41% to at least 40%. The recommendation will be submitted to the Finance Commission of India, chaired by economist Arvind Panagariya, which is set to present its report by October 31, 2025, for implementation from fiscal year

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India’s Economic Growth in Q3 of FY 2024-25

India’s economic growth has significantly improved in the third quarter (Q3) of FY 2024-25, with Real GDP rising to 6.2%, an increase from the previously reported 5.4% in the last quarter. This encouraging growth trend is supported by revised estimates, which now project India’s Real GDP growth at 6.5% for the entire financial year 2024-25.

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India’s Gold Investments Soar 60% to ₹1.5 Lakh Crore in 2024

In 2024, India recorded a notable 60% jump in gold investments, amounting to $18 billion (about ₹1.5 lakh crore), according to a report by the World Gold Council (WGC). This increase was driven by rising gold prices, reduced import duties, and heightened demand during festive seasons. India’s gold investment demand hit 239 tonnes—the highest level

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India’s Current Account Deficit to Widen in FY26, GDP to Grow 6.5%: Crisil

India’s economy is anticipated to grow by 6.5% in FY26, a slight increase from the 6.4% growth expected for the current fiscal year (FY25). According to Crisil’s report, this growth is supported by several factors, such as lower inflation, anticipated rate cuts from the Reserve Bank of India (RBI), and favorable conditions like a normal

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FDI Limit for Insurance Raised from 74% to 100%

The Union Budget for 2025-26, introduced by Finance Minister Nirmala Sitharaman, brings about significant reforms across six key areas aimed at boosting India’s growth potential and enhancing its competitiveness on the global stage over the next five years. In the Financial Sector, there are major reforms focusing on Insurance, Pensions, Bilateral Investment Treaties (BITs), KYC

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Employment in India Up by 36% : Center Reports

India has witnessed significant employment growth over the years. With employment increasing by nearly 36%, adding around 17 million jobs during 2016-17 and 2022-23, India’s economic trajectory demonstrates sustained job creation across key sectors. With a robust democracy, dynamic economy, and a culture that celebrates unity in diversity, India’s journey toward becoming a global powerhouse

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India’s Net Direct Tax Collections Surge by 21.8%

India’s net direct tax collections grew 21.8% to ₹9.57 lakh crore by October 9, surpassing over half of the Budget estimates for 2023 with personal income tax revenues rising 32.5% and corporate taxes increasing 12.4%. While tax refunds amounting to ₹1.5 lakh crore have been remitted to taxpayers so far, some refunds are being withheld

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