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Economy
India’s New GDP Series: A Game-Changer for Accurate Economic Growth Measurement
India is set to introduce a new GDP series with 2022-23 as the base year, replacing the previous 2011-12 series. This change aims to provide a more accurate representation of the economy by incorporating recent structural shifts, including digitalisation, formalisation, and evolving consumption trends. The updated methodology includes better
Kerala Presents India’s First Elderly Budget
Kerala has been a history-maker by introducing the first elderly budget in India to meet the needs of the rapidly aging population. Since the elderly population makes up almost 18.7 percent of the state population, the separate budget document will bring together all the allocations made towards the welfare
US Changes India Trade Deal Statement, Sparking Confusion
The US government changed its official factsheet on the interim trade agreement with India, which eliminated major language and introduced new ambiguity on what the deal entails. The new version deleted a reference to Indian tariff cuts in pulses, one of the staple agricultural products, and softened the language
Taxpayer Base More than Doubled in the Last Decade
The taxpayer base in India has been growing tremendously over the last 10 years as the population of income tax filers more than doubled, showing a wider participation in the economy and the increases in adherence. According to the official statistics given by the Ministry of Finance, the number
Walmart Becomes First Retailer to Hit $1tn Market Value
Walmart, the first company to ever be valued by the market at one trillion, has emerged as the first technology giant-dominated industry to bypass the technology industry on the way to market valuation. Share in the company improved after a prolonged increase, which was caused by good results in
India's Union Budget FY 2026-27: Key highlights
The latest Union Budget 2026-27, laid down on 1 February 2026, puts sustainable economic development, infrastructure development, and inclusive development in the first line. It underlines the promotion of large-scale production in the strategic and frontier industries through improved investments in the health sector, in logistics and technology, and
Tripura Gramin Bank Launches India’s First Solar-Powered ATM Van
Tripura Gramin Bank has officially opened the first fully solar-powered ATM van in India. The new solar ATM van is powered entirely by the sun, enabling other banking activities, such as cash withdrawals and balance enquiries, even in remote, electricity-limited locations. The solution is an eco-friendly mobile option that
India Emerges as World’s Largest Rice Producer
India has officially become the world’s largest rice producer, surpassing China, with an all-time high of 150.18 million tonnes of rice produced in the 2024-25 season, as announced by Union Agriculture Minister Shivraj Singh Chouhan. This is the result of decades of agricultural development, the adoption of high-yielding seed
Government of India Launches ₹7,280 Crore Scheme for Rare Earth Permanent Magnets
The Union Cabinet of India has approved a scheme with a wholesale value of Rs 7,280 crore to promote the manufacture of rare earth permanent magnets in India, which are a key component of electric vehicles and a vital part of renewable energy, electronics production, aerospace, and defence. The
IIFL Finance appoints ex-RBI Deputy Governor B. P. Kanungo as Chairman
Bibhu Prasad (B. P.) Kanungo has also been made the non-executive chairman of IIFL Finance, a former Deputy Governor of the RESERVE Bank of India, and has over many decades of financial experience under his belt. His appointment was unanimously decided among the board members of the company through
