Spending under rural jobs scheme up 4% in 2023-24
Total expenditure under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) - including states' contribution for materials used in the work - stood at Rs 1.05 lakh crore in 2023-24, against Rs 1.01 lakh crore in the previous year, showed preliminary data compiled by the rural development ministry. Erratic monsoon reduced the typical large-scale migration of workers to farm activities in the second quarter of the financial year, experts said. Key Points
Economic TimesEconomy on fire: India's GDP revised up again
At 7.6%, the latest growth estimate for 2023-24 is better than the 7.3% the government had earlier predicted, although our growth needs to be broader based. The farm sector has stagnated. Key Points
mintGovt hikes raw jute MSP by Rs 300 to Rs 5,050 per quintal
The MSP of Raw Jute (TD-3 equivalent to earlier TD-5 grade) has been fixed at Rs 5,050 per quintal for 2023-24 season. Anurag Thakur said the decision would ensure a return of 63.2 per cent over the all India weighted average cost of production. Key Points
Economic TimesIREDA achieves highest-ever annual loan sanctions and disbursements in financial year 2023-24
According to the company, its total loan sanctions reached Rs. 37,354 crores, while the loan disbursements totaled Rs. 25,089 crores. Key Points
ThePrintCentral public sector enterprises achieved 50% capex spending in first half of 2023-24
New Delhi [India], December 20 (ANI): Capital expenditure by central public sector enterprises are on track to meet its target for the year 2023-24, the Ministry of Finance said on Wednesday. During April-September, the first half of the fiscal year, 52 per cent of the Budgeted target has been achieved with a spending of 3.79 […] Key Points
ThePrint
LA Lakers vs Denver Nuggets NBA live streaming: Venue, start time, where to watch, schedule
The 2023-24 NBA Season has been launched, the first match will be played on Tuesday, October between Denver Nuggets and L.A. Lakers. Know where and how this and other matches can be watched, schedule, and other details. Key Points
Economic TimesOver 2.16 lakh people earn above Rs 1 crore in Assessment Year 2023-24: Pankaj Chaudhary
India witnesses a remarkable rise in individuals earning over Rs 1 crore annually, reaching 2.16 lakh for the 2023-24 Assessment Year. Minister Pankaj Chaudhary unveils a positive trend in high-income earners, with significant growth since 2019. Additionally, there's an uptick in 'Profession' income reporting. Finance Minister Sitharaman notes a 27.6% year-on-year increase in personal income tax collections, attributing it to tax reforms and enhanced compliance measures, painting a promising picture for India's economic trajectory. Key Points
Economic TimesExpert welcomes GDP growth forecast for 2023-24
Kolkata, Feb 29 (PTI) Chief economist of Bandhan Bank Siddhartha Sanyal welcomed the GDP growth forecast of 7.6 per cent for 2023-24 released by the National Statistical Office (NSO) on Thursday. Sanyal said, “The GDP growth number for 2023-24 will be highest in seven years, barring 2021-22, which had shot up due to the statistical […] Key Points
ThePrintWith Rs 86,000-cr for FY25, MNREGS budget sees no change from 2023-24 revised estimate as polls loom
FY25 allocation is exactly the same outlay as given in revised estimates for the current financial year. Activists say it's not sufficient to meet demand for work in rural areas. Key Points
ThePrintPrime Minister Modi applauds record number of patents granted in 2023-24
New Delhi [India], November 17 (ANI): Prime Minister Narendra Modi has expressed appreciation for achieving the highest-ever number of patents granted during the fiscal year 2023-24. In response to a post by Union Minister of Commerce and Industry, Piyush Goyal, the Prime Minister shared his thoughts on the accomplishment. Show Full Article PM Modi posted […] Key Points
ThePrintDirect tax collections up 16 pc at Rs 6.53 lakh crore so far in 2023-24
New Delhi [India], August 11 (ANI): Direct tax collections so far in 2023-24 have seen steady growth with total mop-up at Rs 6.53 lakh crore, a 15.73 per cent increase over the amount received in the same period last financial year. Direct Tax collection, net of refunds, stands at Rs. 5.84 lakh crore, which is […] Key Points
ThePrintIndian banks, NBFCs can weather global banking stress: Report
Credit cost is expected to fall to 0.9% in 2023-24 from 1% in 2022-23. Return on assets is expected to remain at similar levels. Key Points
FinancialexpressGovt renewable power co IREDA achieves all-time high profit
New Delhi [India], April 20 (ANI): Indian Renewable Energy Development Agency Ltd. (IREDA) achieved an all-time high annual Profit After Tax (PAT) of Rs. 1252.23 crore in its audited financial results for the fiscal year 2023-24, the company informed in an exchange filing on Friday. The loan disbursement amount of IREDA also increased to all […] Key Points
ThePrintNo proposal to allow further diversion of sugar for ethanol production: Food Secy
Food Secretary Sanjeev Chopra has said that there are no plans to permit additional diversion of sugar for ethanol production during the current 2023-24 supply year. In December of the previous year, the government imposed a cap on sugar diversion at 17 lakh tonnes for the current supply year (November-October). Additionally, it authorized the utilization of both cane juice and B-heavy molasses within the overall cap for ethanol production. Key Points
Economic TimesAll set for Budget 2024, last under PM Modi's second term
New Delhi [India], January 31 (ANI): On Thursday, Union Finance Minister Nirmala Sitharaman will table the interim budget before the country heads for Lok Sabha polls later this year. This will be her sixth Budget as the Finance Minister and last in the second term of the Modi government. The interim budget will take care […] Key Points
ThePrint
RBI Expects First Quarter of 2023-24 to See Strong Growth Driven by Private Consumption and Manufacturing Resurgence
Reserve Bank of India officials, led by Deputy Governor Michael Patra, anticipate that the first quarter of the 2023-24 fiscal year will witness robust growth propelled by private consumption and a revival in rural demand. Manufacturing is expected to regain momentum with easing input cost pressures. The RBI’s projections indicate a 7.8% year-on-year growth in real GDP, signifying a gradual recovery from the pandemic. Softening inflation and increased public spending on capital expenditure are also positive factors contributing to the economic outlook Key Points
The HinduEthanol blending rate to fall to 10%: CRISIL
The ethanol blending rate in India for the ethanol supply year 2023-24 (November 2023 to October 2024) is expected to drop to less than 10%, down from 12% in the previous year, according to a report by CRISIL. This decline is attributed to the government's decision to restrict the use of sugarcane juice and sugar syrup for ethanol production due to lower sugarcane production caused by erratic rains. Key Points
Economic TimesTony Awards 2024: See new venue, where and when to watch on TV, live stream and more
The 77th Tony Awards are relocating to Lincoln Center's David H. Koch Theater on the Upper West Side. CBS will broadcast the event on June 16, with streaming available on Paramount+. Nominations for the 2023-24 Broadway season will be revealed on April 30, while the host remains unannounced. Key Points
Economic TimesSovereign Gold Bond Scheme 2023–24 Series IV: What is the allotment date of the latest SGB tranche?
The Sovereign Gold Bond Scheme 2023–24 Series IV has an issue price of Rs 6,263. The subscription period is from February 12 to 16, 2024. Investors receive a fixed interest rate of 2.5% per annum. The bond has a tenor of 8 years with an exit option from the 5th year onwards. Key Points
Economic TimesLast-minute tax-saving investment: Will investing in PPF and SSY on March 30 and March 31 qualify for tax
Tax savings options available on March 30 and 31st: Individuals who want to make any tax savings investments in various government schemes like public provident fund (PPF), Sukanya Samriddhi Yojana (SSY) and others can do so online and offline as banks are open on March 30 and 31st. Read here to know more. Key Points
Economic Times
Without growth or welfare, Budget 2023-24 is one that curtails social spending
One expects welfare spending to spike before elections. But this Budget goes against the grain. Key Points
The HinduDirect tax collections exceed estimates in FY24; jump 18 per cent to Rs 19.58 lakh crore
Refunds of Rs 3.79 lakh crore issued in FY 2023-24 showing an increase of 22.74 per cent, says CBDT. India’s net direct tax collections surged by a... Key Points
The Tribune IndiaToday is last day to invest in Sovereign Gold Bonds (SGB) 2023-24 Series-IV: 8 important things to know
SGB Last Date: The Sovereign Gold Bonds (SGB) Series IV 2023-24 is open for subscription with an interest rate of 2.50%. Investors can purchase units of SGB, with tax exemptions and tradability. Investment limits apply, and the last date to invest is February 16, 2024. Eligible investors include individuals, HUFs, trusts, universities, and charitable institutions. Key Points
Economic TimesCBDT signs record number of 125 Advance Pricing Agreements in FY24
The Central Board of Direct Taxes (CBDT) has entered into a record 125 Advance Pricing Agreements (APAs) with Indian taxpayers in 2023-24. This includes 86 Unilateral APAs (UAPAs) and 39 Bilateral APAs (BAPAs), the finance ministry said in a statement on Tuesday. Key Points
Economic TimesPassenger vehicle sales soar to record high of 42 lakh units in FY24
The craze for utility vehicles (UVs) is intensifying in India as these contributed 60 per cent of the total passenger vehicle sales... Key Points
The Tribune India
Share of Russian oil in India's imports rises to 35% in FY24
The share of Russian oil in India's total imports rose to 35% in 2023-24 from 23% in the previous year, according to energy cargo tracker Vortexa. During the year, all other key suppliers, including Iraq, Saudi Arabia, UAE, and the US lost share in the Indian market. Iraq's share fell to 20% (from 21%). Similar drops were noted for Saudi Arabia (15% from 17.5%), UAE (6% from 9%), and the US (3.5% from 5.5%). Key Points
Economic TimesFinance Ministry releases additional ₹3.4kcr for rural jobs guarantee scheme
MGNREGS received additional ₹3,400 crore, raising total allocation to ₹89,400 crore. Person-days exceeded targets. 10% wage hike during 8.4% growth. 'Below normal' 2023 monsoon affected work demand projections. Key Points
Economic TimesMCL registers 200-MT coal production in FY24
Bhubaneswar, Mar 24 (PTI) Mahanadi Coalfields Ltd (MCL) has achieved the 200-million tonne (MT) coal production mark in the 2023-24 fiscal, officials said Sunday. The MCL has mining operations in Odisha’s Angul, Jharsuguda and Sundergarh districts. The company crossed the 200-MT mark on Saturday night. Show Full Article “It gives me immense pleasure to share […] Key Points
ThePrintStocks in news: LIC, SBI Cards, Bharti Airtel, Zomato, Vodafone Idea
The Board of SBI Cards has declared an interim dividend of Rs 2.5 per share for the financial year ending 2023-24. The company has also fixed a record date of March 28 for the proposed dividend. Key Points
Economic TimesMajority of issues in India-UK FTA towards resolution, says commerce ministry
Commerce Secretary Sunil Barthwal leads progressing India-UK FTA negotiations, aiming to enhance economic ties. Talks cover 26 chapters, including intellectual property rights, with bilateral trade data showing an increase to USD 20.36 billion. Key Points
Economic Times
Onion production to decline in 2023-24: First Advance Estimate
The production of the politically sensitive kitchen staple, onions in the country during the year 2023-24 (July-June)is expected to drop to around 25. 473 million tonnes compared to around 30.208 million tonnes last year due to a lower yield in key producing states of Maharashtra, Karnataka, Andhra Pradesh and Rajasthan, according to First Advance Estimate for the year released by the agriculture ministry on Thursday. Key Points
Economic TimesPerformance of students in Delhi hovered between 30 to 50% in all subjects: Economic survey
News News: According to the Economic Survey of Delhi, the learning outcomes of students in classes 3 to 10 hovered between 30 to 50% in all subjects. Find out more about the performance of students in Delhi schools. Key Points
Times Of IndiaWe mustn't spread India’s social sector spending too thin
The political rhetoric on tackling poverty and ensuring social justice isn’t adequately reflected in our budget allocations, as many welfare programmes remain under-funded. We’d be better off focusing on a handful of initiatives. Key Points
mintCabinet nod to Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana with an investment of over Rs 6,000 cr
The Sub-scheme will be implemented as a Central Sector Sub-scheme under the Central Sector Component of the PMMSY at an estimated outlay of Rs.6,000 crore consisting of 50% i.e. Rs.3,000 crore public finance including the World Bank and the AFD external financing, and rest 50% i.e.Rs.3,000 crore being the anticipated investment from the beneficiaries/private sector leverage. It will be implemented for 4 (four) years from FY 2023-24 to FY 2026-27 across all the States and UTs. Key Points
Economic TimesIndia's current account deficit narrows to 1 per cent of GDP at $ 8.3 bn in Q2 FY24
India's current account deficit (CAD) for the July-September quarter of fiscal 2023-24 narrowed to $8.3 billion, constituting 1% of the GDP. This is a decline from the $9.2 billion or 1.1% of GDP reported in the preceding quarter. The improvement is attributed to a reduced merchandise trade deficit, which contracted to $61.0 billion from $78.3 billion in the same quarter the previous year. Key Points
Economic Times
Govt says likely to achieve fiscal deficit target of 5.9% in FY 2023-24
India's fiscal deficit in the first seven months of the FY ending in March 2024 was $96.86 billion, or 45% of the estimate for the whole year, according to official data. Key Points
ThePrintFICCI survey indicates accelerated Indian economic growth in Q2 driven by higher demand
A FICCI survey indicates an accelerating growth momentum in the second quarter of the current fiscal, with 80% of respondents reporting increased orders and demand in July-Sept 2023-24. Manufacturing's average capacity utilization is at 74%, slightly higher than previous quarters, reflecting sustained economic activity. Key Points
Economic TimesIndia's growth seems secure despite global headwinds and uncertainties
Booming industrial production and positive tax inflows outweigh woes like low private investment and weak global demand. Our economy’s expansion looks remarkably safe. Key Points
mintKarnataka pegs 42% decline in sugar output at 34.51 lakh tonne for 2023-24
Sugar production in the state stood at 59.81 lakh tonne in the just completed 2022-23 season (October-September). | Bengaluru News Key Points
Hindustan TimesR. Dinesh takes over as CII President for 2023-24
TVS Supply Chain Solutions Executive Vice Chairman R. Dinesh on Thursday assumed office as the Confederation of Indian Industry (CII) President for 2023-24 while ITC Managing Director Sanjiv Puri named President-designate. Key Points
The Hindu
Despite monsoon concerns, foodgrains target set 3% higher
The government on Wednesday set a marginally higher target of 332 million tonne (MT) of foodgrains production for the 2023-24 crop year (July-June) against the estimated output of 323.5 MT in the current crop year. Key Points
FinancialexpressSwami Atmanand English Medium School admission registration begins @cgschool.in
Swami Atmanand English Medium School Admission 2023-24: Application forms are available on cgschool.in. Key Points
Hindustan TimesCoal India targets 610-million tonne supply to power sector 2023-24
Its supplies to the power sector hit an all-time high of 586.6 million in 2022-23. Key Points
FinancialexpressAICTE academic calendar for 2023-24 out, 1st year classes from September 15
AICTE has issued academic calendar for 2023-24. Check important dates here. Key Points
Hindustan TimesPunjab FM presents Rs 1.96 lakh crore budget for 2023-24; agriculture, education health key focus areas
Punjab Finance Minister Harpal Singh Cheema presented a Rs 1.96 lakh crore budget for 2023-24 on Friday. The budget has a focus on agriculture, education, and health segments, with total budget size increased by 26% to Rs 1,96,462 crore. The budget is the first full budget of the AAP government. After coming to power in March 2022, the AAP government first passed a vote-on account on March Key Points
Economic Times
Jharkhand govt tables Rs 1.16 lakh cr budget for FY24 in assembly
The Jharkhand government on Friday tabled a Rs 1.16 lakh crore budget for the 2023-24 fiscal in the assembly. The budgetary estimates for FY24 were 15 per cent higher than the previous annual financial statement. Key Points
Economic Times