The Indian government has announced the release of an advance tax devolution payment amounting to ₹1,09,019 crore to support state finances. This substantial allocation is part of the regular process of tax devolution, designed to bolster the financial capabilities of
RBI Reports Significant Inflows Through Forex Swap Facility The Reserve Bank of India (RBI) has announced that it has mobilized $40.82 billion through its foreign exchange (forex) swap facility as of July 31, 2023. This initiative aims to provide liquidity
GST Collections Surge 15.4% to Over ₹2.11 Lakh Crore in July Indias Goods and Services Tax (GST) collections recorded a remarkable increase of 15.4% in July 2023, reaching ₹2.11 lakh crore. This growth can be attributed primarily to a rise
Cabinet Approves ₹84,084-Crore ‘Samudra Manthan’ Scheme for Offshore Energy Exploration The Indian Union Cabinet has officially approved the ‘Samudra Manthan’ scheme, allocating ₹84,084 crore (approximately $10 billion) for offshore oil and gas exploration. This decision aims to enhance the countrys
Indias GST Collections Reach 14-Month High in July, Exceed Rs 2 Lakh Crore for the Second Time in FY27 India’s Goods and Services Tax (GST) collections for the month of July have reached a notable Rs 2.11 lakh crore, marking
The Indian Cabinet has approved the Samudra Manthan scheme, a significant initiative aimed at enhancing offshore oil and gas exploration within the country. The scheme entails an investment of ₹84,084 crores (approximately $10.2 billion), marking a crucial move to boost
Tata Steel has approved a substantial investment of ₹33,873 crore (approximately $4.1 billion) for the expansion of Neelachal Ispat Nigam Limited (NINL). This decision comes as part of the company’s strategy to enhance its production capabilities in India, where the
Amazon and Flipkart have announced plans to reduce seller fees as part of a strategic initiative to attract a greater number of businesses to their platforms. This effort is particularly aimed at increasing sales volumes in smaller cities and towns
NTT Data Payment Services is in the process of creating a hub-based architecture designed to enhance cross-border retail payment transactions. This innovative strategy is intended to facilitate the integration of Indias Unified Payments Interface (UPI) with several other rapid payment
Zepto, a quick commerce startup, is currently in the process of raising ₹1,000 crore in pre-initial public offering (IPO) funding, which has led to a postponement of its plans to go public. The company is seeking to achieve a valuation
