Economy and Finance
News and views related to the Indian Economy and Financial sector
Finance Minister Nirmala Sitharaman set to present Budget 2024, the last during PM Modi’s second term
ANI -
The interim budget will take care of the financial needs of the intervening period until a government is formed after the Lok Sabha polls. A full budget will be presented by the new government.
RBI bars Paytm Payments Bank from onboarding new consumers with immediate effect, banking transactions to be stopped from 29 February
RBI has said that Paytm Payments Bank will not be allowed to do any deposits or credit transactions or top ups after 29th February
Indian Rupee stable while Chinese Yuan is falling: A feather in Modi government’s cap to keep currency stable in pre-election year
Omkar G -
The Indian rupee (INR, ₹) held steady against the U.S. dollar in 2023, depreciating just 0.5% to end the year at 83.17 per USD. Notably, the Chinese yuan and the Korean won, currencies of current account surplus nations, depreciated by nearly 3%.
India overtakes Hong Kong to become fourth-largest stock market, Sensex up 500 points
The strong inflow of funds from foreign portfolio investors (FPIs) lately also supported the stocks to march towards all-time highs.
Ram Mandir and tourism initiatives to add Rs 25,000 crore to UP’s tax revenue: SBI Report
As per the estimates, by the end of the year, the total expenditure by tourists in the state could surpass the Rs 4 lakh crore mark.
Sony calls off $10-Billion merger deal with Zee, sends notice: Report
Sony Group has claimed that the closing conditions for the deal have not been met by ZEE and citing this reason it called off the merger deal worth $ 10 billion.
PM Modi inaugurates Boeing India Engineering and Technology Centre in Bengaluru, the largest such Boeing campus outside the US
ANI -
Prime Minister Narendra Modi on Friday inaugurated a new state-of-the-art Boeing India Engineering and Technology Center (BIETC) campus in Bengaluru.
Foxconn and HCL forge partnership to establish semiconductor testing, and assembly unit in India
The collaboration aligns with the Indian government's 'Make in India' and 'Atmanirbhar Bharat' vision.
Production Linked Incentive (PLI) Schemes resulted in over ₹1.03 lakh crore investment till November 2023, contributes to exports over ₹3.20 lakh crore
PLI Schemes lead to production/ sales of Rs. 8.61 lakh crore and employment generation of over 6.78 lakh
USA-India bilateral trade has crossed $200 billion, informs USISPF chief Mukesh Aghi
ANI -
Furthermore, underscoring the Vibrant Gujarat Summit that happened recently, Aghi emphasised that it should be called Vibrant India and not Vibrant Gujarat anymore.
