FM News

India-UK bilateral trade (both goods and services) stood at 36.3 billion pounds during the FY 2022-23 (April 2022 - March 2023), an increase of 34.2 per cent or 9.2 billion pounds from 2021-22.  

The upcoming budget presents a challenging yet critical opportunity for the government to address macroeconomic hurdles, enhance public expenditure, and implement targeted reforms that could restore investor confidence and propel India's growth trajectory.  

FM Nirmala Sitharaman urged private sector leaders from both nations to drive forward this growing partnership, particularly in sectors like pharmaceuticals, MedTech, and digital innovation, to strengthen the economic ties between India and Mexico. 

For the first five months of fiscal year 2025, LIC's individual premium segment accrued Rs 22,396.28 crore, marking an 11.75 per cent growth from Rs 20,041.36 crore during the same period in fiscal year 2024. 

Budget 2024: Long-term gains on all financial and non-financial assets will attract a tax rate of 12.5 per cent instead of 10.0 per cent.  

Budget 2024: Last year, the central government reduced import taxes on key components, such as camera lenses, to promote mobile phone manufacturing in India.  

As India embarks on the vision to become a developed country by 2047, financial intermediation costs must decline globally; the Survey prepared by Chief Economic Adviser V Anantha Nageswaran and his team said.

The main objective of Mission Shakti (Sambal) is to improve the accessibility and various government initiatives towards the safety and protection of women, as well as to secure their rights and entitlements.   

Over the next five years, the government plans to construct an additional 20 million affordable houses, supplementing the existing 30 million homes already built.

India's manufacturing sector growth climbed to a four-month high in January as a sharper upturn in new orders boosted output growth amid mild cost inflation, a monthly survey said on Thursday.

The nominal GDP growth for the next financial year has been pegged at 10.5 percent against the 11 percent estimated earlier. 

The interim budget will take care of the financial needs of the intervening period until a government is formed after the Lok Sabha polls after which the new government will present a full budget in July. 

There is a set of other people, who are mostly internet warriors, sharing their creative reactions to Budget 2024 on X (formerly Twitter). 

Finance Minister Nirmala Sitharaman informed that the fiscal deficit in FY24 is expected at 5.8 per cent of GDP, down from 5.9 per cent estimated earlier. 

These 22 financial companies include Godrej Finance, Amazon Pay (India) Pvt Ltd, Aditya Birla Housing Finance, Tata Motors Finance Solution, IIFL Finance and Mahindra Rural Housing Finance Ltd. 

The President of the World Bank Group is also the Chair of the Board of the Executive Directors of the International Bank for Reconstruction and Development (IBRD).  

FM Sitharaman is attending the 56th Annual General Meeting of the Board of Governors of the Asian Development Bank (ADB) in Incheon, a city in South Korea from May 2-5.

In Budget 2023-24, finance minister Nirmala Sitharaman announced the revamping of credit guarantee scheme for micro and small enterprises with effect from April 1, 2023, with an infusion of Rs 9,000 crore to the corpus to enable additional collateral-free guaranteed credit of Rs 2 lakh crore.

Rajasthan chief minister Ashok Gehlot had earlier said that the employees of the state government cannot be left at the mercy of the share market where National Pension Scheme (NPS) funds are invested.

The special category status was introduced in 1969 to benefit certain backward states having hilly terrains, strategic international borders and economic and infrastructural backwardness.