As of October 2024, the Union government's fiscal deficit for the financial year 2024-25 stands at 46.5% of the total budgetary target, amounting to Rs 7.5 lakh crore. This is in line with the government's fiscal consolidation strategy, which aims to bring down the fiscal deficit to 4.9% of GDP for the year, an improvement from the previous fiscal year's target of 5.6%. The fiscal deficit gap, which represents the difference between government expenditure and revenue, is

The Finance Ministry is set to review the windfall tax on fuel exports, including petrol, diesel, and Aviation Turbine Fuel (ATF), following the stabilization of global crude oil prices. The tax, introduced in July 2022, was implemented to address the substantial profits earned by oil refiners exporting fuel, which had an impact on domestic supplies. The review will assess the tax’s effectiveness and the revenue it has generated, with the Ministry of Petroleum and Natural Gas already re

Swiggy's much-anticipated entry into the stock market on Wednesday created over 500 new "crorepatis" among its current and former employees. The food delivery and quick commerce giant’s listing is set to unlock approximately ₹9,000 crore in Employee Stock Option Plans (ESOPs) for around 5,000 employees, according to sources familiar with the matter. Swiggy’s IPO was priced in the range of ₹371-390 per share, with shares debuting at a premium, listing at

In just two days, equity investors faced a staggering loss of ₹13 lakh crore in market valuation as the BSE benchmark Sensex saw a sharp 2.27% drop. The benchmark index shed 1,805.2 points, with a 984.23-point decline on Wednesday, November 13, 2024, ending at 77,690.95. Experts cited soaring retail inflation, which hit a 14-month high of 6.21% in October, persistent foreign fund outflows, and muted corporate earnings as the primary reasons behind the significant market correction

The article highlights the significant increase in the number of wealthy individuals in India, specifically those reporting taxable incomes exceeding Rs 1 crore annually. Over 220,000 people now fall into this high-income bracket, with more than 100,000 of them joining in just the past three years. This sharp rise is attributed to the rapid economic growth in India, particularly in sectors such as technology, finance, and entrepreneurship. These industries have driven the creation of substant

In October, Indian investors showed strong confidence in mutual funds, investing a record Rs 25,323 crore through Systematic Investment Plans (SIPs), despite a turbulent stock market. This historic investment pushed the total number of SIP folios past 10 crore for the first time. SIP contributions hit this new peak just six months after surpassing Rs 20,000 crore, according to data released by the Association of Mutual Funds in India (Amfi). Equity mutual funds recorded net inflows