A recent survey by the Federation of Indian Chambers of Commerce and Industry (FICCI) reveals promising growth projections for India's economy, forecasting a 6.3% expansion in the fiscal year 2024. This survey sheds light on key factors contributing to the nation's economic recovery.

India's Wholesale Price Index (WPI) has entered its sixth consecutive month in the negative territory, registering -0.26 percent in September. This deflationary trend, contrary to expectations, has economists and policymakers concerned. While some food prices have plummeted, others have surged, posing challenges for both consumers and authorities.

The latest India Development Update (IDU) from the World Bank reveals India's remarkable resilience in the face of global challenges. Despite a challenging global environment, India's economy surged, growing at a robust 7.2% in FY22/23, positioning it as one of the fastest-growing major economies.

In September, India witnessed a noteworthy decline in retail inflation, representing a significant departure from the peak levels observed 15 months prior. This decrease, primarily attributed to softer vegetable prices, brought the Consumer Price Index (CPI) to a three-month low. While this is a welcome development, inflation remains above the central bank's 4% target, posing potential challenges for rate adjustments. Despite the overall decrease, certain components, including cereals, pulses, and spices, continued to experience price increases, creating a complex economic landscape.

The Ministry of Statistics and Programme Implementation has reported a remarkable surge in India's industrial output for August 2023, with the Index of Industrial Production (IIP) revealing a staggering growth of 10.3 percent, surpassing consensus estimates and marking the highest growth in 14 months. The robust performance was not limited to a single sector, as mining, manufacturing, and electricity all contributed to this upturn. While this growth is commendable, experts anticipate a gradual slowdown in the coming months, despite the industrial sector's crucial role in India's economic growth.

The International Monetary Fund (IMF) has chosen to uphold Pakistan's economic growth projection at 2.5%, aligning with official forecasts but falling short of the government's target by 1%. This decision comes as part of a larger assessment of Pakistan's economic situation and inflation rates. The IMF's projection diverges significantly from Pakistan's reported GDP growth for the previous year, and it raises concerns about the nation's ability to combat unemployment and poverty given its population growth rate. Furthermore, the report highlights the challenges Pakistan faces as it strives to stabilize its economy, including a decreasing current account deficit and remittance issues. The IMF's outlook for Pakistan's economic growth extends to 2028, though it remains subject to change based on the country's rapidly evolving economic landscape.

India faces a fiscal challenge as its fiscal deficit climbs to Rs 6.42 trillion, equivalent to 36% of the fiscal year 2024 target. This development raises concerns about the country's fiscal stability and necessitates a closer look at fiscal policies and revenue generation.

In a positive sign for the Indian economy, the urban unemployment rate has seen a significant decline, reaching 6.6% in the first quarter. This development suggests a potential turnaround in the job market, providing hope for both job seekers and policymakers. Read on to learn more about this encouraging trend.

In a significant development, Union Minister for Commerce and Industry, Piyush Goyal, recently unveiled the much-anticipated Status Holder Certificates as part of the Foreign Trade Policy 2023. This initiative aims to boost India's export prowess and reward businesses for their exceptional contributions to the country's international trade. Read on to learn more about this exciting development and its potential impact.

The GST Council, in its 52nd meeting, cleared a few measures to boost foreign trade and make the tax regime simpler and easier to comply with. The council reduced the GST rate on molasses from 28% to 5% and introduced an amnesty scheme for filing appeals. It also made changes to the GST rates for food preparations made from millet flour and imitation zari threads.

In a recent statement, the Reserve Bank of India (RBI) has stressed the importance of tackling high inflation to uphold macroeconomic stability and sustainable growth. RBI Governor Shaktikanta Das has reaffirmed the central bank's commitment to achieving a sustainable 4% inflation target while keeping benchmark interest rates unchanged for the fourth consecutive meeting.

In a surprising twist, the U.S. job market witnessed significant growth in September, fueling speculation about potential interest rate hikes by the Federal Reserve later this year. Despite this promising trend, wage growth is showing signs of slowing down, as indicated by the latest Labor Department employment report.

The Reserve Bank of India (RBI) has unveiled its Fourth Bi-Monthly Monetary Policy, outlining key decisions and strategies to address economic challenges amid the ongoing global uncertainties.

The Reserve Bank of India (RBI) has established an External Working Group to deliberate on and enhance the Expected Credit Loss (ECL) framework. This initiative reflects RBI's commitment to refining credit risk assessment and management practices within the banking sector.

India's Services Purchasing Managers' Index (PMI) experienced a remarkable surge in September, reaching a staggering 61, the highest level in over a decade. The report also highlights a substantial increase in output, marking a 13-year peak, while job growth remains steady, providing a promising outlook for the country's services sector.

The government has decided to continue the 7.1% interest rate on General Provident Fund (GPF) savings for the October-December quarter, marking the 15th successive quarter of maintaining stability in government employees' retirement savings. Despite economic fluctuations and changes in other financial sectors, the GPF rate remains unchanged.

In a surprising turn of events, India experienced a significant surge in diesel exports to Europe in September 2023, setting a record for the year. Multiple factors, including reduced supplies from West Asia and the US, along with robust European demand, contributed to this remarkable increase. Vortexa, an energy cargo tracker, provides insights into this noteworthy development.

The United Nations Conference on Trade and Development (UNCTAD) has revised its growth estimate for India in 2023, projecting a robust 6.6% expansion. This upward revision reflects optimism in India's economic recovery and resilience in the face of global challenges.

Despite facing substantial external challenges, India's economy stands strong, with the World Bank holding steady at a growth forecast of 6.3% for the fiscal year 2023-24. India's resilience in the face of global pressures is a testament to its economic vitality.

In September, India's manufacturing sector experienced a notable deceleration, hitting a five-month low, according to the seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI). The PMI dropped from 58.6 in August to 57.5, indicating a slowdown in manufacturing activity. A PMI reading of 50 signifies no change in activity levels.

India's Goods and Services Tax (GST) revenue growth showed signs of deceleration, with a 10.2% increase recorded in September. This slowdown raises concerns about the country's economic recovery amid ongoing challenges.

In a promising development for India's economic recovery, the core sectors of the country have reported a remarkable surge in growth during the month of August. This growth, the highest seen in over a year, signals a positive outlook for various industries and reflects the resilience of the Indian economy in the face of challenges.

In a recent development, the Indian government has unveiled noteworthy alterations to its tax policies pertaining to the petroleum sector. These revisions encompass an increase in the special additional excise duty (SAED) on domestically produced crude oil, alongside reductions in levies on diesel and Aviation Turbine Fuel (ATF).

S&P Global Ratings has upheld its economic outlook for India, keeping the growth forecast for the ongoing fiscal year steady at 6%. This reaffirmation reflects the rating agency's confidence in India's resilience and recovery amidst global economic challenges.

Amidst economic uncertainties, conflicting reports have emerged regarding India's GDP growth forecasts for the fiscal year 2024. The Asian Development Bank (ADB) has revised its projection downward to 6.3%, while India Ratings, a leading credit rating agency, has surprisingly raised its outlook to 6.2%.

India has witnessed a significant reduction in its trade deficit as it narrowed to $24.16 billion in the month of August. This development is attributed to a surge in exports and a decline in imports, signaling a positive trend in the country's trade balance.

Fitch Ratings has upheld its growth projection for India in the fiscal year 2023-24 (FY24) at 6.3%, showcasing the nation's remarkable economic resilience amidst challenges like tighter monetary policies and weakened exports. Despite a strong growth rate of 7.8% in the April-June quarter, driven by robust demand and a thriving services sector, Fitch expresses inflation concerns and provides insights into factors influencing India's economic outlook.

In a significant financial development, Life Insurance Corporation of India (LIC) handed over a substantial dividend cheque amounting to ₹1,831 crore to the Finance Minister, underscoring the robust performance and stability of the nation's largest life insurer.

In a remarkable fiscal development, India's Goods and Services Tax (GST) collection for the month of August has witnessed a significant upswing, reaching an impressive ₹1.59 trillion. This surge in revenue collection is a testament to the country's economic resilience amid global challenges.

In a groundbreaking development for digital payments in India, the Unified Payments Interface (UPI) has achieved an extraordinary milestone by processing a staggering 10 billion monthly transactions. This remarkable achievement not only reflects the rapid adoption of digital payments but also underscores the convenience and security offered by the UPI platform.

In a positive development for India's economic outlook, global credit rating agency Moody's has revised its GDP growth forecast for 2023. The upgraded projection of 6.7% signifies growing confidence in India's recovery from the economic challenges posed by the pandemic.

India's Gross Domestic Product (GDP) has shown robust growth, reaching 7.8% in the first quarter of fiscal year 2023-2024, compared to the 6.1% growth recorded in the previous quarter. This acceleration reflects a promising economic path with significant implications for the nation's financial landscape. However, it also highlights both progress and challenges faced over the past year.

India has witnessed a significant surge in its fiscal deficit during the initial four months of the 2023-24 financial year, exceeding one-third of the annual target. This fiscal imbalance, measuring the disparity between government expenditures and revenue, holds critical implications for the government's borrowing requirements and fiscal management.

Crisil, a leading rating agency, projects a 6% GDP growth for India in the fiscal year 2024, slightly lower than the National Statistical Organisation's (NSO) estimate of 7% for FY 2023. Crisil remains optimistic about the Indian economy's medium-term prospects, foreseeing an average growth rate of 6.8% over the next five fiscal years. However, the agency points out potential challenges due to global economic complexities and central banks' actions to counter high inflation. It identifies interest rate hikes and inflation moderation as pivotal factors influencing India's economic trajectory. Crisil's Managing Director, Amish Mehta, emphasizes the significance of green investments in driving growth and addressing climate risks. Chief Economist Dharmakirti Joshi highlights the need to manage external vulnerabilities, considering potential volatility in foreign portfolio flows and the changing landscape of external borrowings.

In its latest mid-year macroeconomic evaluation, the National Institute of Public Finance and Policy (NIPFP) has indicated a potential slowdown in India's economic expansion, estimating a growth rate of 6% for the fiscal year 2023-24 (FY24). This projection reflects a decline from the 7.2% growth observed in FY23, primarily attributed to prevailing challenges in the global economic landscape. The comprehensive analysis by NIPFP takes into account a spectrum of economic markers, unveiling invaluable insights into the probable trajectory of India's economic journey.

The Reserve Bank of India (RBI) concluded its eagerly awaited monetary policy meeting for 2023, revealing pivotal decisions that will influence the nation's economic trajectory. Amidst global economic fluctuations and domestic challenges, the central bank's stance and actions hold significant implications for India's financial landscape.

In a remarkable resurgence, India's services sector achieved its highest growth in over a decade during July. The surge, driven by robust demand and new business gains, propelled the S&P Global India Services Purchasing Managers' Index (PMI) to an all-time high of 62.3. This positive trajectory has extended for an impressive 23 consecutive months since August 2021, underscoring the sector's resilience.

The Unified Payments Interface (UPI) has witnessed an impressive growth of 44% in July, soaring to a transaction value of ₹15 lakh crore. This remarkable surge underscores the widespread adoption and confidence in digital payment methods in India.

A glance at India's debt landscape, fiscal management endeavors, and strategies for fostering economic growth while targeting a $5 trillion economy.

The 51st meeting of the Goods and Services Tax (GST) Council has marked a pivotal decision, announcing a 28% tax imposition on the complete face value of online gaming bets, set to come into effect from October 1st. The move, led by India's Finance Minister Nirmala Sitharaman, aims to establish clarity regarding taxation procedures for casinos, horse racing, and online gaming, while also streamlining the valuation process for these sectors.

India witnesses a remarkable surge in income tax return filings, with more than 6.77 crore taxpayers submitting their returns by the July 31 deadline. This achievement marks a new record and reflects increasing compliance and digital adoption among taxpayers.

Despite a slight dip in growth momentum, India's manufacturing sector sustains expansion in July, driven by buoyant demand and robust export performance. Challenges like inflationary pressures and capacity constraints persist, yet the industry retains optimism for future prospects.

In an impressive fiscal feat, the month of July 2023 has witnessed a groundbreaking record in Goods and Services Tax (GST) collection, soaring past the monumental threshold of Rs 1.65 lakh crore. This remarkable achievement signifies a significant boost in the Indian economy, underscoring positive growth trends and financial resilience.

In a significant development, India and Malaysia have taken a decisive step towards strengthening their economic ties by agreeing to conduct bilateral trade transactions in Indian Rupee. This strategic move is expected to simplify trade processes, enhance financial cooperation, and foster closer economic relations between the two nations.

The Controller General of Accounts (CGA) data reveals that India's fiscal deficit has reached 25.3% of the full-year target by the end of June 2023. This article provides an overview of the country's fiscal deficit situation, comparing it with previous years and the government's projected targets for the current financial year (2023-24). The level of deficit indicates the extent to which the government needs to borrow to meet expenses and has implications for inflation, interest rates, and overall economic stability.

The Indian government has introduced a significant update to the GST e-invoice rule, making it mandatory for companies with an annual turnover of ₹5 crore or more to generate e-invoices. This move aims to streamline and digitize the invoicing process, bringing greater transparency and efficiency to tax compliance. The implementation of e-invoices is set to enhance the ease of doing business while curbing tax evasion.

India's core sector experienced robust growth in June, reaching 8.2%, marking the highest expansion rate in the past five months. This development indicates a positive trend in the country's economic recovery despite the challenges posed by the pandemic. The growth was primarily driven by key sectors, including steel, cement, and electricity, which have shown resilience amidst the ongoing uncertainties.

The Securities and Exchange Board of India (SEBI) has taken a significant step to enhance market stability with the establishment of the Corporate Debt Market Development Fund (CDMDF). Aimed at providing support during stressed market conditions, the CDMDF will purchase investment-grade corporate debt securities, instilling confidence among market participants. Let's delve into the key features and contributions of this newly introduced fund.

According to a recent report by Standard Chartered Research, India's Gross Domestic Product (GDP) is projected to reach $6 trillion by 2030. The forecast highlights the country's significant economic potential and growth trajectory, positioning India as a key player in the global economy in the coming decade.

SBI Research economists predict a significant milestone for India's economy, projecting that it will become the world's third-largest economy by FY28, two years earlier than previously estimated. The researchers are optimistic about India's growth prospects, with a forecast of 8.1% growth in the first quarter of FY24 and an overall growth rate of 6.5%. The achievement of this goal would require sustained annual nominal growth of 11-11.5%, a target that the economists believe is attainable with a growth rate of 6.5-7%. As macroeconomic prospects improve and with appropriate policy measures and geopolitical realignment, the researchers anticipate a transformative change in India's global position, along with crossing the $5 trillion mark for its economy.

The International Monetary Fund (IMF) has raised its GDP growth forecast for India to 6.1% for the year 2023, citing the country's economic rebound amid the global economic recovery. This upgrade comes as welcome news for India, indicating a positive trajectory for the nation's economy in the post-pandemic era.

India's foreign exchange reserves have experienced a remarkable upswing, marking the most substantial weekly surge in four months with an impressive increase of $12.74 billion. The total reserves now stand at an impressive $609.02 billion, as per the recent report by the Reserve Bank of India (RBI). The surge was primarily driven by a significant rise in Foreign Currency Assets (FCAs), which escalated by $11.19 billion, reaching a total of $540.17 billion. Additionally, India's gold reserves surged by $1.14 billion, reaching $45.20 billion. The country's Special Drawing Rights (SDRs) also increased by $250 million, making it $18.500 billion in total. Furthermore, India's Reserve Position in the International Monetary Fund (IMF) witnessed an upward movement by $158 million, now standing at $5.18 billion.

The newly inaugurated 'GST Bhawan' in Agartala, Tripura, by Finance Minister Nirmala Sitharaman, represents a transformative step in tax administration in the region. Designed to serve as the headquarters for CGST, CX, and Customs for the Agartala, Guwahati Zone under CBIC, the office complex is strategically located at Mantri Bari Road, offering convenient accessibility to taxpayers, including proximity to the newly constructed Agartala Airport complex. Despite the challenges posed by the pandemic, the project was completed within agreed timelines, providing common citizens with better access to GST-related matters and facilitating their interaction with officers. This state-of-the-art infrastructure promises to enhance taxpayer services and convenience, boosting revenue collection and driving efficient tax administration.

The Asian Development Bank (ADB) has retained its growth forecast for India's fiscal year 2023-24 at 6.4%. The projection reflects the bank's confidence in India's economic recovery, underpinned by robust domestic demand. Despite the challenges posed by the COVID-19 pandemic, the ADB expects India to sustain its growth momentum and continue on a path of recovery in the coming fiscal year.

The 50th GST Council Meeting witnessed significant decisions aimed at streamlining the Goods and Services Tax (GST) system in India. The meeting introduced changes in GST rates for various goods and services, along with several compliance measures. This article explores the key highlights of the meeting, providing insights into the revised rates and the measures taken to simplify GST compliance for businesses.

The net direct tax collection for the current fiscal year has shown a significant growth of 16%, reaching Rs 4.75 lakh crore. This rise reflects a boost in economic activity. The collection represents 26.05% of the total budget estimates for direct taxes in the full 2023-24 fiscal year. The gross collection from direct taxes also experienced a robust growth of 14.65% to reach Rs 5.17 lakh crore, further supporting the positive trajectory of economic recovery.

The National Housing Bank (NHB) has successfully operationalized the ₹10,000 Crore Urban Infrastructure Development Fund (UIDF) to support the development of urban infrastructure projects across the country. This fund aims to address the financing needs of various infrastructure sectors, including affordable housing, smart cities, and sustainable urban development. The operationalization of UIDF by NHB marks a significant step towards enhancing infrastructure development and promoting sustainable urbanization in India.

India's foreign exchange reserves have displayed a positive trajectory, increasing by $1.853 billion to reach $595.051 billion in the week ending June 30, as reported by the Reserve Bank of India (RBI). This rise follows a previous decline in the overall reserves. The composition of foreign exchange reserves includes various assets such as physical currency, financial deposits, bonds, and gold. Additionally, the Indian rupee aims to achieve internationalization, with an RBI-appointed committee proposing a roadmap to promote its use in global transactions.

The Ministry of External Affairs has announced that India and Malaysia can now conduct trade using the Indian Rupee (INR) as a mode of settlement, alongside other currencies. This development comes after the recent launch of the Foreign Trade Policy (FTP) 2023 by the Ministry of Commerce, emphasizing the government's commitment to positioning the rupee as a global currency. The move is anticipated to enhance bilateral trade between the two nations while reducing transaction expenses for businesses.

The Goods and Services Tax (GST) Council has put forward a set of stringent registration regulations in an effort to combat the rising issue of fake registrations. These proposed measures aim to enhance the authenticity and credibility of businesses registered under the GST regime, ensuring a fair and transparent taxation system.

According to a recent report jointly released by the World Trade Organization (WTO) and the World Bank, India has witnessed a significant boost in its global commercial services exports share. The report reveals that India's share has doubled to 4.4%, reflecting the country's growing prowess in the global services sector. This achievement signifies India's expanding presence and competitiveness in international markets, bolstering its position as a key player in the global economy.

India's external debt has experienced a slight increase, reaching USD 624.7 billion by the end of March 2023, as per the Reserve Bank's data release. However, during the same period, the debt-to-GDP ratio has actually decreased. The appreciation of the US dollar against major currencies contributed to valuation gains of USD 20.6 billion, offsetting a larger potential increase in external debt. This update provides insights into India's external debt composition and its debt service obligations.

India's Goods and Services Tax (GST) collection for June reached ₹1.61 trillion, marking a significant 12% increase compared to the previous year. This achievement represents the fourth time the gross GST collection has surpassed ₹1.60 trillion since its introduction. The consistent growth in GST revenue highlights the positive impact of streamlined taxation and underscores its role in driving economic stability and growth.

The fiscal deficit of the central government for the financial year 2023-24 narrowed to Rs 2.1 lakh crore or 11.8% of the budget estimates at the end of May 2023, indicating an improvement compared to the previous year. The reduction in fiscal deficit was driven by a surge in non-tax revenue, although net tax revenue experienced a contraction. Efforts to strengthen tax collection mechanisms and support state government finances are highlighted.

Fitch Ratings, a global credit rating agency, has revised its GDP forecast for India upwards, projecting a growth rate of 6.3% for the fiscal year 2023-2024 (FY24). The decision is based on the country's strong economic momentum, supported by various factors such as improved vaccination rates, resilient domestic consumption, and favorable policy measures.

In May 2023, India experienced a significant drop in its inflation rate, reaching a two-year low. This decline brings encouraging signs for the country's economy, indicating improved price stability and potential positive impacts on consumer spending and investment. Let's explore the factors contributing to this decline and its implications for India's economic outlook.

India's export sector showcases resilience as the country's overall exports for May 2023 reach an impressive figure of US$60.29 billion. This growth reflects a positive trajectory in India's international trade, bolstering the economy and highlighting the competitiveness of Indian products in the global market.

In a positive development, retail inflation in India has decreased to its lowest level in over two years, recording a rate of 4.25% in May. This decline is attributed to various factors and is expected to have a positive impact on the economy and consumers.

Moody's, the global credit rating agency, has projected a GDP growth rate of 6.3% for India in the June quarter. While indicating a positive trend, Moody's also highlighted fiscal risks that need to be addressed to ensure sustainable economic recovery and long-term stability.

The Small Industries Development Bank of India (SIDBI) has joined hands with the National Institution for Transforming India (NITI Aayog) to launch the EVOLVE (Entrepreneurship, Venture Opportunities, Leadership, and Innovation for Value Enhancement) mission. The collaborative initiative aims to foster entrepreneurship and support startups by providing them with financial assistance, mentoring, and access to networks and resources.

The Reserve Bank of India (RBI) has announced its monetary policy for June 2023, revealing key decisions that will shape the country's economic trajectory. Discover the highlights of the policy, including interest rate adjustments, liquidity measures, and the central bank's outlook on inflation and growth.

The Pension Fund Regulatory and Development Authority (PFRDA) plays a vital role in regulating and developing the pension sector in India. Learn more about the functions, objectives, and initiatives undertaken by the PFRDA to secure the financial future of individuals and promote pension coverage in the country.

The Eurozone has entered a period of recession at the beginning of 2023, signaling significant economic challenges for the region. As countries grapple with the impact of the recession, concerted efforts are underway to stimulate recovery and restore economic stability in the Eurozone.

The Competition Commission of India (CCI) plays a vital role in ensuring fair competition and preventing anti-competitive practices in the market. Through its rigorous investigations and enforcement actions, the CCI aims to create a level playing field for businesses, protect consumer interests, and foster economic growth.

The World Bank has revised India's GDP growth forecast for the fiscal year 2023-2024, projecting a rate of 6.3%. This downward revision reflects the challenges faced by the Indian economy, while the global outlook has been revised upwards. The World Bank's assessment highlights the need for policy measures to address the factors impacting India's economic growth.

The concept of Green Gross Domestic Product (GDP) is gaining traction as countries seek to achieve a harmonious balance between economic growth and environmental sustainability. This article delves into the concept of Green GDP and explores its significance in fostering sustainable development while accounting for the environmental impact of economic activities.

India's economy shows signs of recovery as the GDP grows by 6.1% in the fourth quarter of FY23. Projections indicate a further acceleration, with growth expected to reach 7.2% in the near term. These figures reflect positive momentum and provide optimism for India's economic trajectory.

In the face of global economic concerns, J.P. Morgan has revised India's fiscal year 2024 GDP forecast to 5.5%, reflecting increased optimism about India's economic recovery. The upward revision highlights the resilience of India's economy and its potential to rebound from the challenges posed by the global economic landscape.

The Goods and Services Tax (GST) revenue collection for the month of May has witnessed a 12% year-on-year growth, reaching Rs 1.57 lakh crore. This increase indicates a positive trend in economic activity and reflects the recovery of businesses from the impact of the COVID-19 pandemic.

India's economy witnessed a significant boost as the GDP growth rate accelerated to 6.1% in the fourth quarter of the fiscal year 2022-23. This impressive growth, driven by various sectors, has propelled India's economy to reach a milestone of $3.3 trillion, reflecting the nation's resilience and potential for sustained economic development.

The Indian government has successfully achieved the fiscal deficit target of 6.4% of GDP for the fiscal year 2022-2023. This accomplishment reflects the government's commitment to fiscal discipline and prudent economic management, ensuring stability and resilience in the face of economic challenges.

In a show of friendship and support, India has extended a credit line of USD 1 billion to Sri Lanka. This financial assistance will contribute to Sri Lanka's economic development and infrastructure projects, further deepening the strong bilateral ties between the two nations and fostering regional cooperation.

The latest data reveals a decline in urban unemployment in India, reaching 6.8% during the January-March 2023 quarter. This positive trend indicates an improvement in the job market and offers hope for economic recovery, with various sectors contributing to employment generation and reducing the unemployment rate.

A recent report by SBI Ecowrap projects India's GDP growth at 7.1% for the fiscal year 2022-2023. This positive outlook indicates a rebound in economic activity and highlights the resilience of India's economy amidst challenging times.

According to a report by BOB Eco Research, India's Gross Domestic Product (GDP) is projected to grow between 6% and 6.5% in the fiscal year 2023-2024 (FY24). The report highlights positive economic indicators and predicts a rebound in various sectors, paving the way for steady growth and recovery.

A recent report by Morgan Stanley predicts that India will make a substantial contribution of 16% to global GDP growth between 2023 and 2024. The report highlights India's economic resilience, structural reforms, and favorable demographics as key factors driving its significant impact on the global economy. This projection solidifies India's position as a major player in shaping the future of the global economic landscape.

According to a recent report by the United Nations, India continues to be a bright spot in the global economy, with a projected growth rate of 6-7% in 2024. The report highlights India's resilience, economic reforms, and favorable demographics as key factors contributing to its sustained growth. Despite global uncertainties, India's growth trajectory signals optimism and reinforces its position as a key player in the world economy.

The foreign exchange reserves of India have experienced a decline of $6.1 billion, reaching $593.48 billion. This decrease in forex reserves suggests a shift in global economic dynamics and highlights the need for prudent management of reserves to navigate potential challenges. Despite the dip, India's forex reserves remain robust, providing a cushion against external shocks and ensuring stability in the country's economy.

The Reserve Bank of India (RBI) has forecasted robust economic growth for India and expects the GDP growth for the first quarter (Q1) to reach 7.6%. This optimistic projection indicates a strong recovery from the challenges posed by the COVID-19 pandemic. The RBI's outlook reflects confidence in the resilience of the Indian economy and the effectiveness of policy measures implemented to stimulate growth.

The Liberalized Remittance Scheme (LRS) has been introduced to streamline and simplify cross-border financial transactions for residents of India. Under this scheme, individuals are allowed to remit money abroad for various purposes, such as education, travel, investments, and more. The LRS provides greater flexibility and convenience to individuals while ensuring compliance with regulatory guidelines. This initiative aims to facilitate international transactions and promote ease of doing business globally.

India's foreign exchange reserves have surged to an 11-month high, reaching a robust figure of $595.9 billion. This significant increase in reserves is attributed to various factors, including robust capital inflows, improved export performance, and prudent monetary policies, further strengthening India's economic stability and resilience.

Mastercard assumes the role of the International Cricket Council's (ICC) global sponsor, enhancing the global presence and reach of cricket. This partnership signifies Mastercard's commitment to supporting the growth of the sport and leveraging its global platform to engage fans worldwide.

AU Small Finance Bank has unveiled a tailored financial solution for self-employed customers in the form of a RuPay Credit Card. With this innovative offering, the bank aims to address the unique requirements of self-employed individuals, providing them with a versatile and accessible credit card option to support their business and personal financial needs.

The Reserve Bank of India (RBI) has reported a significant rise in its gold reserves during the fiscal year 2022-23. The bank's gold holdings increased by 4.5%, reaching a total of 794.64 tonnes. This surge in gold reserves reflects the RBI's efforts to diversify its assets and maintain a strong financial position amidst global economic uncertainties.