The Reserve Bank of India (RBI) on Monday said that 97.38 per cent of the Rs 2000 banknotes in circulation as of 19 May 2023 have been returned. The latest data reveals that the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore as of 19 May 2023, when the […]
The gross goods and services tax (GST) collection increased by 12 per cent year on year from April to December 2023, reaching Rs 14.97 lakh crore when compared to the previous year’s collection of Rs 13.40 lakh crore during the same period. The average monthly gross GST collection for the first nine months of this […]
In the wake of the Russian invasion of Ukraine, the 12th package of sanctions over the import of Russian diamonds into G7 countries and restrictions on deliveries of diamonds to the European Union came into effect today, Russian News agency TASS reported on Monday. It said in its report that G7 nations announced the introduction […]
Food delivery platform Zomato revealed on Sunday that it has been served with notices from tax authorities in Delhi and Karnataka regarding purportedly insufficient payment of goods and services tax in 2018, amounting to Rs 4.2 crore. Zomato, in a filing with stock exchanges, stated its intention to contest the tax demand notices and emphasised […]
In the face of international scrutiny, India has staunchly defended its substantial purchases of Russian crude oil since the onset of the Ukraine war. A recent report from a parliamentary panel highlighted that all import deals were executed within the scope of Western sanctions imposed on Moscow for its involvement in the conflict, as per […]
Union Minister For Commerce and Industry Piyush Goyal announced on Thursday that the National E-commerce Policy is in its final stages of discussion and is poised for imminent announcement. Addressing the media at a press conference, Goyal stated, “It is in the final stages of discussion at the highest level in the government. We hope […]
In the wake of persistent inflation, the Indian government has announced an extension of the exemption for tur and urad dal imports until 31 March 2025. This decision, conveyed through an order from the Director General of Foreign Trade, mirrors the recent extension of the import duty exemption for masur dal until the same date, […]
As micro, small and medium enterprises (MSMEs) continue to ride the ecommerce wave, the Forum for Internet Retailers, Sellers and Traders (First) India, a division of India SME Forum (ISF) in a survey report has highlighted the challenges in the space and the need for policy reforms for a conducive ecosystem and collaboration between policymakers […]
Earnings for the Indian poultry companies improved in H1 FY2024 but commodity inflation could disrupt the momentum in H2, the rating agency Icra has said. The rating agency has maintained its revenue growth expectations at eight to ten per cent for the domestic poultry industry in FY2024. “This will be driven by significant volume expansion […]
Food and Consumer Affairs Minister Piyush Goyal underscored the Centre’s proactive measures in recent years to regulate retail prices of food items, emphasising the government’s commitment to controlling inflation while fostering economic growth. Speaking at an event organized by the ministry to commemorate National Consumers Day, Goyal acknowledged India’s status as the fastest-growing large economy. […]
