Tag: economy

RBI permits Indian residents to open foreign exchange accounts in GIFT City

July 11, 2024July 11, 2024 Santhi No Comments

Under the Liberalized Remittance Scheme (LRS), the Reserve Bank of India (RBI) has broadened the scope of remittances to International Financial Services Centres (IFSCs), enabling Indian citizens to open foreign currency accounts in GIFT City. The International Financial Services Centers Authority Act, 2019 within IFSCs permits authorised individuals to facilitate transfers for the purpose of…

Blog

Nirmala Sitharaman is the sole woman in PM Modi’s cabinet for the third time

June 10, 2024 Santhi No Comments

Nirmala Sitharaman, a two-time Union minister, has entered Prime Minister Narendra Modi’s cabinet for his third term in a row, setting a kind of milestone for a female minister. Ms. Nirmala Sitharaman, who oversaw the finance portfolio during PM Modi’s previous tenure, is credited with advancing second-generation economic reforms. The 64-year-old was appointed to the…

Blog

CPI inflation dips to 4.85% low in March, a 10-month low

April 13, 2024 Santhi No Comments

Statistically speaking, a high base caused retail inflation based on the Consumer Price Index (CPI) to drop to a 10-month low of 4.85% in March from 5.09% in February, according to statistics issued by the National Statistical Office on Friday. The index as a whole remained unchanged sequentially. CPI inflation stood at 5.66% in March…

Blog

RBI MPC Meeting: Verify the date, time, and anticipated outcomes

March 28, 2024 Santhi No Comments

Meeting of the RBI Monetary Policy Committee (MPC): The RBI Monetary Policy Committee (MPC) will begin its three-day meeting on April 3 and conclude on April 5, during which it will discuss interest rates and examine the status of the economy. This will be the RBI MPC’s first meeting following the April 1 start of…

Blog

PM Modi: Startups crucial for India’s rise as world’s 3rd largest economy

March 20, 2024 Santhi No Comments

PM Modi stated at the Startup Mahakumbh event on Wednesday that India’s startups will play a major role in the country’s achievement of becoming the third largest economy in the world by 2027, with a $5 trillion GDP. With a bold prediction that India will rank among the world’s top three economies during his most…

Blog

GDP growth is up 7.6% thanks to several data adjustments, with an 8.4% spike in Q3.

March 1, 2024May 2, 2024 Santhi No Comments

The National Statistical Office (NSO) on Thursday increased India’s real GDP growth estimate for this year to 7.6% from the 7.3% projected last month, causing a flurry of revisions in the economy’s growth estimates. Additionally, it increased its 2021–22 growth estimate from 9.1% to 9.7% and decreased its 7.2% growth estimate for 2022–2023 to 7%….

Blog