Economy and Finance

GOI to setup task force for AVGC sector to build domestic capacity for serving our markets and the global demand

Finance Minister Sitharaman announced that a new provision would be introduced to provide an opportunity to taxpayers to file the updated returns, on payment of additional tax, within two years of the end of the relevant assessment year.

In her budget speech, Finance Minister Sitharaman announced that a digital rupee will be issued using blockchain and other technologies and will be issued by the Reserve Bank of India starting 2022-23.

In her speech, the Finance Minister said that the government has decided to roll out RAMP, an initiative to revitalise the MSME sector

Economic Survey 2022 forecasts Indian GDP to grow by 8.0-8.5% in 2022-23, the fastest in the world.

100% shares of Air India officially handed over to Tata Group company Talace Pvt Ltd by the govt along with management control

In the financial year 2021-22, Apple and Samsung are set to manufacture smartphones worth over $5 billion in India

Elon Musk, in a tweet let it be known that Tesla’s India business is “still working through a lot of challenges with the government”.

In July 2021, OpIndia had reported that Musk was seeking temporary relief in import tariffs. Indian government has been urging to manufacture cars in India and discourage imports by relatively high import duty to encourage the make-in-India initiative.

While World bank retained India's growth rate estimate at 8.3% f02 2021, it has forecasted that economy will grow by 8.7% in 2022