New Delhi, Aug 5 (IANS) Household savings in India have risen steadily in value terms, reaching Rs 54.6 lakh crore in 2023-24 compared to Rs 38.5 lakh crore in 2019-20, the Parliament was informed on Tuesday.Similarly, gross domestic savings have also grown in absolute terms — from Rs 59.4 lakh crore in 2019-20 to Rs 92.6 lakh crore in 2023-24, Minister of State for Finance, Pankaj Chaudhary, said in a written reply to a question in the Rajya Sabha.“In percentage terms, they have remained bro…

New Delhi, Aug 5 (IANS) Minister of State for Commerce and Industry Jitin Prasada told the Parliament on Tuesday that as a result of various measures taken by the Centre, the number of Indian products rejected by importing countries have registered a decline of 12.5 per cent in June this year compared to the corresponding figure for the same month of the previous year.He said that the steps taken by the government include measures to increase quality consciousness through Quality Control Orders …

New Delhi, Aug 5 (IANS) A total of six aircraft engine shutdown incidents and three Mayday call incidents have been reported this year, according to the civil aviation ministry.IndiGo and SpiceJet each experienced two engine shutdown incidents, while Air India and Alliance Air had one incident each, as per data shared by Minister of State for Civil Aviation Murlidhar Mohol with the Rajya Sabha.Three Mayday call incidents have occurred, including one involving the Air India aircraft (London Gatwi…

New Delhi, Aug 5 (IANS) India has remained the fastest-growing major economy, averaging over 7 per cent GDP growth between 2014 and 2025 (excluding the Covid years) and in a global environment marked by protectionism, sustaining 7–8 per cent growth requires a sharp focus on domestic growth drivers, the Parliament was informed on Tuesday.”To this end, the Government remains committed to a strategy centred on deregulation, infrastructure investment and MSME development; enhancing female labour f…

New Delhi, Aug 5 (IANS) The Securities and Exchange Board of India (SEBI) has taken up 76 investment-related fraud cases during the five-year period from April 2020 to March 2025, in which the culprits were ordered to disgorge Rs 949. 43 crore as illicit gains, the Parliament was informed on Tuesday.The highest disgorgement amount was levied in FY 2021-2022 at Rs 359.96 crore, while a sum of Rs 180.48 crore was ordered to be disgorged during 2024-25, data tabled by the Minister of State for Fina…

New Delhi, Aug 5 (IANS) The E-Commerce Export Hubs (ECEHs) initiative aims to provide dedicated zones that will reduce the cost and time associated with logistics and simplify regulatory processes, the government said on Tuesday.These hubs will boost cross-border e-commerce exports from India and simplify re-imports for e-commerce returns or rejects. Five ECEH pilot projects have been proposed for implementation, said Minister of State for Commerce and Industry Jitin Prasada in a written reply t…

New Delhi, Aug 5 (IANS) A total of Rs 77,871.44 crore in undisclosed income was detected in three financial years (2022-23, 2023-24 and 2024-25) via tax evasion surveys from the Income Tax Department, the Parliament was informed on Tuesday.For FY 2022-23, the Department conducted 1,245 surveys to detect Rs 9,805.04 crore worth of undisclosed income, which surged considerably to Rs 37,622.23 crore via 737 surveys, Minister of State for Finance, Pankaj Chaudhary, said in a written reply to a quest…

Amaravati, Aug 5 (IANS) Andhra Pradesh Human Resources Development and Information Technology Minister, Nara Lokesh, said on Tuesday that the state is witnessing a strong economic revival. Lokesh, who is the son of Chief Minister N. Chandrababu Naidu, made the claim on social media platform X.In July 2025, the state clocked Rs 3,803 crore in GST collections — the highest ever since the GST regime began in 2017, and a 14 per cent year-on-year growth, he said.”This is also the highest GST growth …

New Delhi, Aug 5 (IANS) Prime Minister Narendra Modi will inaugurate the M.S. Swaminathan Centenary International Conference, which will be held in New Delhi from August 7 to 9. Themed “Evergreen Revolution – The Pathway to Bio happiness”, the conference will honour Prof. Swaminathan’s lifelong contributions to sustainable and equitable development.The Prime Minister will inaugurate the event to mark the birth centenary of Professor M.S. Swaminathan and release a commemorative coin and sta…

Washington, Aug 5 (IANS) US President Donald Trump on Tuesday said that he is going to further raise tariffs on India in the next 24 hours, after announcing 25 per cent tariffs from August 7.In an interview with CNBC, Trump said he will raise tariffs on India, revising the earlier settled rate of 25 per cent.”India has the highest tariffs. We do very little business with India. We settled on 25 per cent, but I think I am going to raise that substantially within the next 24 hours,” the US Preside…