Bengaluru, Jan 30 (IANS) Karnataka Bharatiya Janata Party (BJP) President and MLA B.Y. Vijayendra said on Saturday that the Congress, which had once won as many as 415 Lok Sabha seats, has now been reduced to just 99 seats in the 2024 general elections. Speaking in the State Assembly, Vijayendra added there was a need to introspect on why the Congress had reached such a pitiable state. Drawing an analogy from the Hindu epic Ramayana, he said that just as demon king Ravana abducted Goddess Sita a…
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Vadodara, Jan 29 (IANS) The signing of the Free Trade Agreement (FTA) between India and the European Union (EU) has been welcomed by traders in Gujarat’s Vadodara, who see it as a positive development for domestic trade and exports. Business leaders believe the agreement will help Indian exporters access European markets while reducing the impact of rising global trade barriers.Ramesh Patel, Vadodara Trade Development Organisation President and Advisor to Confederation of All India Traders (CAIT…
New Delhi, Jan 29 (IANS) The government’s calibrated fiscal strategy has anchored India’s economic growth with stability amid global turbulence, according to the Economic Survey tabled in Parliament on Thursday.It highlights that rising tax collections and focus on capital expenditure has reduced the fiscal deficit and strengthened the country’s macroeconomic fundamentals.The Centre’s fiscal deficit is budgeted at 4.4 per cent of GDP in FY26 — down from 4.8 per cent in the previous fina…
New Delhi, Jan 26 (IANS) India continues to remain the bright spot supported by its strong macro fundamentals and the government capex may cross Rs 12 lakh crore in FY27, a year-on-year growth of 10 per cent, an SBI Research report said on Monday.The nominal GDP growth relevant for Budget math is expected at 10.5-11 per cent with the uptrend in global commodity prices may percolate in a higher WPI.A bit slower nominal growth may hurt tax revenues in FY27, requiring better expenditure planning. H…
Mumbai, Jan 25 (IANS) India’s strong economic fundamentals continue to support a healthy growth outlook, but prolonged uncertainty over the India–US trade deal could push the Reserve Bank of India to step in with further rate cuts.According to Goldman Sachs, if trade-related headwinds persist beyond the first quarter of FY27 and start weighing on growth, the RBI may use its remaining policy space to support the economy through additional monetary easing.The brokerage said India’s mass cons…
New Delhi, Jan 24 (IANS) Prime Minister Narendra Modi on Saturday distributed more than 61,000 appointment letters to newly recruited youth at the 18th Rozgar Mela and addressed them through a video link, emphasising reforms, economic growth and the role of young people in nation building. “Today, you are receiving appointment letters for government services; in a way, this is an invitation letter for nation building,” the Prime Minister said, reminding the youth of their duty towards the Consti…
New Delhi, Jan 24 (IANS) India is aiming to nearly triple its exports to $1.3 trillion by 2035 by pushing manufacturing-led growth through structural reforms and deregulation, rather than relying on heavy government spending, according to reports.The strategy marks Prime Minister Narendra Modi’s third major attempt to turn India into a global manufacturing hub and a key driver of world trade.The government is focusing on 15 priority manufacturing sectors, including high-end semiconductors, met…
New Delhi, Jan 24 (IANS) The recent policy actions are beginning to show positive effects across the economy, with improvements in credit and deposit growth, industrial activity, and several consumption-related indicators, a new report has said.The report from BNP Paribas India said improvements in indicators such as credit and deposit growth, IIP, auto sales, port traffic, GST e-way bills, fuel consumption, and consumer sentiment, though export growth and GST collections have moderated.“Most …
New Delhi, Jan 23 (IANS) India’s gross tax revenue is projected to improve in FY27, rising by 9.6 per cent, marginally lower than projected nominal GDP growth of 10.1 per cent, a report said on Friday.The report from CareEdge Ratings said that direct tax collections are expected to see some improvement in FY27, aided by recovery in income and corporate tax collections.The government’s capex is projected to grow 10 per cent to Rs 12.3 trillion in FY27, while the fiscal deficit is expected to be b…
New Delhi/Itanagar, Jan 22 (IANS) The Enforcement Directorate (ED) has carried out search operations at multiple locations across West Bengal, Manipur and Jharkhand in connection with a Rs 100-crore fake Input Tax Credit (ITC) fraud, sources in the central probe agency said.The ED, Itanagar, conducted search operations on January 20 under the Prevention of Money Laundering Act (PMLA), 2002 at 10 premises across West Bengal, Manipur and Jharkhand in connection with the Rs 100-crore fake ITC fraud…