DEPARTMENT OF ECONOMIC AFFAIRS

The government is considering a proposal to double the compensation of senior executives at central public sector enterprises (CPSEs) with a turnover exceeding Rs 100 crore. This aims to bridge the gap with the private sector and retain top talent. ...

Finance minister Nirmala Sitharaman has expressed optimism for India's economic outlook, stating that reform momentum will continue to spur growth and ensure macro-economic stability. She has emphasized India's "commendable growth story" amid global...

The Ministry of Finance has announced the interest rate for the General Provident Fund (GPF) and other similar provident fund initiatives for April- June 2024 quarter.

An eight-person team at the State Department, informally dubbed "the firm," leads U.S. efforts to help countries targeted by China's economic pressure. Originating from a 2021 conflict with China over Taiwan involving Lithuania, the group, led by se...

The Indian Cyber Crime Coordination Centre (I4C) and the Department of Telecom (DoT) are collaborating to block spoof calls originating from outside India, particularly those claiming digital arrests by agencies like the NCB or CBI. They are also pa...

Foreign Secretary Vinay Kwatra reviewed the India-UK 'Roadmap 2030' in London, enhancing bilateral cooperation in trade, defence, security, science, and people-to-people exchanges. Meetings were held with Minister of State Lord Tariq Ahmad, MoS for ...

The UN highlighted India's 'very robust' economic growth, positioning it as an alternative investment destination for western companies. With less foreign investment going into China, India is attracting more western investments, solidifying its pos...

The Union home ministry warns against cyber fraud by criminals posing as law enforcement agencies, leading to financial losses for victims. Fraudsters use various tactics, including 'digital arrests', and impersonate government bodies like CBI and R...

Focusing mainly on subsidies and tax breaks posed risks, given high fiscal costs, the risk of capture by special interests and possible massive mis-allocation of resources, said Era Dabla-Norris, a deputy director of the IMF's Fiscal Affairs Departm...

The appointment of Panda came after Artha Global Executive Director Niranjan Rajadhyaksha expressed his inability to join the Commission. Rajadhyaksha was named a full-time member on January 31, but later in February he expressed his inability to jo...

It is requested that the details of surrender of savings under each unit of appropriation may be sent to the Budget Division, Ministry of Finance by the said date in a specified format, it said.

The Department of Economic Affairs released the monthly economic report for January, indicating an expected moderation in food inflation in the coming months. Retail inflation dropped to a three-month low of 5.1% in January 2024. The report highligh...

The budget team, marked by stability, sees Finance Minister Nirmala Sitharaman preparing for her sixth consecutive Budget. Finance Secretary T V Somanathan and DIPAM Secretary Tuhin Kanta Pandey, integral to the team since assuming leadership roles,...

Experts agreed that the India-Australia Economic Cooperation and Trade Agreement (ECTA) was an important milestone in bilateral trade. Both sides deserved credit for sealing the deal, supported by political guidance from the highest levels. The earl...

Despite facing global challenges in 2023 like valuation issues, few IPOs, regulatory changes and macroeconomic and geopolitical trends, India remains the third largest tech startup ecosystem globally, with over 950 tech startups founded last year.

Talking about India's digital infrastructure in general and UPI payment in particular, Seth said that the world is now recognizing the model and many countries after Singapore, including UAE and US are now asking the government to connect to their d...

The Central Board of Directors of the Reserve Bank of India convened on Friday for its 604th meeting to assess economic and financial developments. The meeting, chaired by RBI Governor Shaktikanta Das, took place in the serene surroundings of Rishik...

Economist Larry Summers has stated that India has the potential to achieve 8% annual growth, which could bring about transformative changes by 2050. India's GDP growth in 2022-23 was 7.2%, compared to 9.1% in the previous year. Summers believes that...

In a circular dated September 1, the Department of Economic Affairs said: "Pre-budget meetings chaired by secretary (expenditure) shall commence in the second week of October 2023... shall continue till around mid-November 2023," the circular said. ...