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1 min read
7 memorable quotes by finance ministers from past Budgets
Ahead of Budget 2024, here's a look-back at some memorable quotes from previous Budget announcement…
2 mins read
India's banking regulator will draft new guidelines for bad loans after the Supreme Court revoked its Feb 12 order
After the Supreme Court struck down the central bank’s February 12th circular on bad loans, many th…
3 mins read
Here’s why the rupee will remain weak at least until Arun Jaitley’s budget speech
The rupee closed at 70.49 at the end of last week, capping a 4% decline since the start of the ye…
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The Modi administration continues its courtship of small businesses with a GST breather — but it seems unlikely that state governments will opt in
The council decided to double the minimum revenue threshold for compliance with the tax to ₹4 mi…
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A small Indian state could become the country's first to introduce universal basic income
As the rest of India debates whether the government should give every citizen a minimum amount of m…
3 mins read
The RBI may have dealt a $1.5 billion blow to Indian banks’ bottom line
As a result, the creditors of IL&FS, which include many of India’s public sector banks such…
3 mins read
India’s finance minister touts the success of the country’s recently-implemented bankruptcy code — but it still requires significant improvement
In a post titled, “Two years of insolvency and Bankruptcy Code (IBC),” Jaitley said that as much…
3 mins read
India’s central bank just gave the country’s small businesses a one-time breather from some of their bad loans — but with a few conditions
The scheme will only be applied to accounts with an outstanding value of ₹250 million or less. I…
2 mins read
India’s Finance Minister moots the possibility of a single tax rate on standard items amid continued criticism of the government’s GST regime
Jaitley explained that prior to the reform’s implementation, the value-added-tax regime levi…
3 mins read
India’s government is doubling the amount of funds it had planned to infuse into the country’s state-owned banks in the remainder of the year
The government had originally earmarked an infusion of ₹650 billion into state-owned banks this …
3 mins read
With a new governor in place, India’s government looks likely to get a payout from the central bank before the end of financial year
The Indian government’s difficulty in meeting its fiscal deficit target, at 3.3% of GDP, for the cu…
3 mins read
The Indian government just appointed the man who oversaw one of its most controversial economic policies as the new head of the central bank
The swiftness of the move is likely due to the fact that Das was said to be in the running aft…
3 mins read
The resignation of the governor of India’s central bank sends a clear indication about the erosion of institutional autonomy under the Modi administration
The rumours had been swirling for the past few months. The governor was on his way out. …
2 mins read
The Indian government has instituted a panel to make the country’s 57-year old income tax law ‘more comprehensible’
He said that the mandate of the taskforce does not include changes to tax rates or new taxat…
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The Reserve Bank of India just made it a lot easier for the country’s shadow banks to sell off their loans
The restriction was put in place to ensure that the loan was being serviced regularly prior …
3 mins read
India’s BJP-led government has released a set of revised GDP data that dramatically reduces growth during the previous administration’s tenure
The report has raised more than a few eyebrows as it showed that growth under the previous Con…
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India’s securities regulator wants to develop India’s corporate bond market — so it has ordered large companies to raise at least 25% of their long-term debt from bond sales
The national securities regulator has ordered “large” or publicly-listed companies to raise at l…
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The Indian government now wants its central bank's help in reviving the real estate sector
As a proxy for general business and consumer confidence, a slump in the commercial real es…
3 mins read
After weeks of tension, the Reserve Bank of India gives in to some of the central government's demands while retaining its independence
Among the many concessions the RBI agreed upon, the main ones were to implement measures to impr…