GST collection at Rs 1.55 Lakh Crore in January 2023: The GST collection in January surged to over ₹ 1.55 lakh crore, the second highest-ever mop-up, the finance ministry said on Tuesday. “The gross GST revenue collected in the month of January 2023 till 5:00 PM on 31.01.2023 is ₹ 1,55,922 crore of which CGST […]
GST collection at Rs 1.55 Lakh Crore in January 2023 Read More »
GST collection at nearly Rs 1.56 lakh crore in January: Nirmala Sitharaman, the finance minister, claims that the Goods and Services Tax (GST) collection increased significantly in January 2023, hitting more than Rs 1.55 lakh crore. This represents the second-highest mop-up for the GST collection in history and shows that the economy of the country
Union Budget 2023: GST collection at nearly Rs 1.56 lakh crore in January Read More »
Economic Survey: Meaning, Importance and Highlights– The Economic Survey, an important annual report that analyses the state of the Indian economy. A day before the budget is presented, the survey is introduced in Parliament. However, the Constitution neither binds the government to present the Economic Survey nor is the government obliged to go with its
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Pakistan is South Asia’s Weakest Economy, World Bank report: Pakistan’s economic growth is expected to drop down even more this year, to just two percent, according to the World Bank. This will mark a drop of two percentage points from its June 2022 estimates, according to the World Bank’s Global Economic Prospects report. According to
Pakistan is South Asia’s Weakest Economy, World Bank report Read More »
India’s Richest 1% Own More Than 40% of Total Wealth: The richest one per cent of Indians own over 13 times more wealth than the bottom 50 per cent, according to a report by Oxfam India. The wealthiest 5% hold 61.7% of the total wealth, which is more than 20 times the 3% owned by
India’s Richest 1% Own More Than 40% of Total Wealth: Oxfam Read More »
World Bank Predicts India’s Economic Growth to Slow to 6.9% in FY23: As the global economy and growing unpredictability weigh on export and investment growth, the World Bank predicts that India’s GDP would drop to 6.9% in Financial Year 2023, a 0.6 percentage point decrease since June. However, India is expected to be the fastest
World Bank Predicts India’s Economic Growth to Slow to 6.9% in FY23 Read More »
India’s Unemployment Rate Rises to 8.30% in Dec 2022: According to information from the Centre for Monitoring Indian Economy, the unemployment rate in India increased to 8.30% in December 2022, the highest level in 16 months (CMIE). It was 8 per cent in the month of November. According to the report, although urban unemployment increased
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Note in Circulation Rise 8% Annually to Rs 32 Lakh Crore: The note in circulation (NiC), according to Finance Minister Nirmala Sitharaman, increased by 7.98% annually to reach Rs 31.92 lakh crore as of December 2, 2022. The demand for currency depends upon several macroeconomic factors, including economic growth and level of interest rates, she said.
Note in Circulation Rise 8% Annually to Rs 32 Lakh Crore: FM Read More »
ADB Keeps India’s GDP Growth Unchanged at 7%: The Asian Development Bank, based in Manila, maintained its projection for India’s economic growth for the fiscal years 2022–2023 at 7%. The bank also forecasted a weaker-than-previously expected pace for developing Asia. As opposed to 8.7% GDP growth in the previous fiscal year, the seven percent growth
In November, Retail inflation eased below 6% for the first time in 2022: India’s retail inflation has decreased from 6.77% in October to 5.88% in November 2022. It is the first time in this Financial Year when the inflation rate came within the tolerance band of RBI i.e. 2 to 6%. Food prices, which account for
In November, Retail inflation eased below 6% for the first time in 2022 Read More »
