Various changes to the income tax laws came into effect that will impact Indian taxpayers from April 1, 2023, which marks the start of the new fiscal year 2023-24. The Indian economy has seen a boom, especially in the tax collections from the past few years. For the Financial Year 2022–2023, direct tax revenue increased […]
Tag Archives: Indian Economy
Startups in India Need To Be Encouraged To Ensure That They Are Not Afraid of Failure: Piyush Goyal
New Delhi, March 3: Piyush Goyal, Commerce and Industry Minister Piyush Goyal on Tuesday said that startups need to be encouraged to experiment and ensure that they are not afraid of failure. In his address at the CII’s Global Bio India Startup Conclave, Goyal said that in some sense, failure also has its importance, particularly […]
MSME Sector ‘Growth Engine’ of Indian Economy, Contributes around 30% to GDP, Says RBI Governor Shaktikanta Das
The Micro, Small and Medium Enterprises have been gaining momentum in past few years. Government at various levels, the MSME Ministry, Public Sector Banks, and NBFCs among other state agencies have been implementing several initiatives for the development of the sector and encourage more and more people to establish their businesses in the MSME sector. […]
Union Budget 2021 Should Focus More on Growth Recovery; Fiscal Deficit May Fall to 6.2 Percent in FY22, Says Report
Mumbai, January 28: The annual Union Budget is round the corner. The Union Budget is slated to be presented on Monday, February 1, 2021 while the Economic Survey will be tabled on Friday, January 29, 2021. All eyes will be on the forthcoming Union Budget as it is expected to focus more on putting the […]
MSMEs Backbone of Indian Economy, Govt Aiming to Increase the Sector’s Contribution to India’s GDP to 50%, Says Nitin Gadkari
Hyderabad, December 12: Terming Micro, Small and Medium Enterprises (MSME) as the backbone of Indian economy, MSME Minister Nitin Gadkari said the Modi government is now aiming is to increase the MSME sector’s contribution to the GDP to about 50 percent. The existing contribution of the MSME sector to India’s GDP is 30 percent. While […]
India’s Economic Growth in FY21 May Be Negative or Near Zero Due to Ongoing Coronavirus Pandemic, Says Nirmala Sitharaman
New Delhi, October 28: Finance Minister Nirmala Sitharaman on Tuesday said that India’s economic growth in the current financial year may be in the negative zone or near zero amid the ongoing coronavirus pandemic. Speaking at the India Energy Forum of CERAWeek, Sitharaman, however, noted that signs of revival are visible now and India would […]
Steps Taken by Modi Government to Give Relief to MSMEs, to Accelerate the Wheel of Economy That Slowed Down Due to Lockdown
The government has said that the recent steps that it has taken are aimed at giving relief to MSMEs which will in turn accelerate the wheel of economy in India. Union Minister for Micro, Small and Medium Enterprises Nitin Gadkari, during a webinar said that the changing the definition of MSMEs, Scheme of Fund of […]