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Economy - Angel One

Parliament Clears Rs 51,463 Cr Extra Spending for FY25, Manipur Budget for FY26

Parliament Clears Rs 51,463 Cr Extra Spending for FY25, Manipur Budget for FY26

18 March 2025

New Delhi, Mar 18 (PTI) Parliament on Tuesday approved the supplementary demands for grants, which entails Rs 51,463 crore additional spending in the current fiscal and the Manipur Budget for 2025-26 with the Rajya Sabha returning four bills to the Lok Sabha. Parliament also approved the Rs 1,291 crore demands for excess grants for 2021-22 …

India’s Mobile Phone Exports Surpass ₹1.82 Lakh Crore Fueled by Govt Support

India’s Mobile Phone Exports Surpass ₹1.82 Lakh Crore Fueled by Govt Support

18 March 2025

India’s mobile phone export industry has achieved a remarkable milestone, with exports crossing ₹1,82,448 crore (US$ 21 billion) in the first 11 months of FY25. This exceeds the forecast made by Union Minister for Railways, Information and Broadcasting, and Information Technology, Mr Ashwini Vaishnaw, who had estimated exports to reach ₹1,73,760 crore (US$ 20 billion) …

OECD Lowers India’s Growth Forecast for FY26 and FY27

OECD Lowers India’s Growth Forecast for FY26 and FY27

18 March 2025

The Organisation for Economic Co-operation and Development (OECD) has revised India’s growth projections downward for the coming years, citing economic uncertainty and global challenges. While the country is expected to maintain its position as the fastest-growing major economy, the latest estimates reflect a more cautious outlook compared to previous forecasts. India’s Growth Outlook Revised Downward …

EPFO Simplifies Claim Settlement Process for Faster Approvals

EPFO Simplifies Claim Settlement Process for Faster Approvals

18 March 2025

The Employees’ Provident Fund Organisation (EPFO), under the Ministry of Labour and Employment, has implemented significant measures to simplify and expedite the claim settlement process.  These steps aim to enhance the efficiency of service delivery, reduce the time taken for claim processing, and minimise the need for physical intervention, ultimately benefiting millions of EPFO members …

India’s Direct Tax Collection Hits ₹21.26 Lakh Crore, up 13.13%

India’s Direct Tax Collection Hits ₹21.26 Lakh Crore, up 13.13%

18 March 2025

India’s net direct tax collections have demonstrated robust growth, reaching ₹21.26 lakh crore by March 15, marking a 13.13% increase compared to the previous year. This surge is largely driven by strong advance tax collections, which have totalled ₹10.44 lakh crore, as per news reports. Advance Tax Contributions According to official data released on Monday, …

Avoid Calling Customers Repeatedly to Submit KYC Docs: Malhotra

Avoid Calling Customers Repeatedly to Submit KYC Docs: Malhotra

18 March 2025

Mumbai, Mar 17 (PTI) Reserve Bank of India (RBI) Governor Sanjay Malhotra on Monday asked banks to avoid calling customers repeatedly for “know your customer” (KYC) documents. Speaking at the annual conference of RBI Ombudsmen here, Malhotra made it clear that submitting the documents to an entity overseen by any financial regulator makes it possible …

Haryana CM Saini Proposes ₹100 Crore Urban Drainage Fund in Budget

Haryana CM Saini Proposes ₹100 Crore Urban Drainage Fund in Budget

18 March 2025

Chandigarh, Mar 17 (PTI) An Urban Drainage Fund with Rs 100 crore corpus will be set up to improve drainage infrastructure in all cities of Haryana, said Chief Minister Nayab Singh Saini while presenting his government’s Budget for the 2025-26 fiscal on Monday. This dedicated fund will launch projects to ensure sustainable flood management and …

Banking Services to Hit on March 24 and 25: UFBU Called for Nationwide Strike

Banking Services to Hit on March 24 and 25: UFBU Called for Nationwide Strike

18 March 2025

Banking services in India will be disrupted on March 24 and March 25 due to a nationwide two-day strike called by the United Forum of Bank Unions (UFBU). This means that all private and public sector banks will be closed for 2 days. The strike is in response to several demands, including improved recruitment across …

From Kerosene to Clean Energy: India’s Push for Sustainable Solutions

From Kerosene to Clean Energy: India’s Push for Sustainable Solutions

18 March 2025

India has made significant achievements in its journey toward ensuring clean energy access and promoting sustainable cooking solutions for its citizens. A key milestone in this endeavour was the introduction of the Public Distribution System (PDS) Kerosene pricing and various initiatives aimed at reducing reliance on kerosene while enhancing access to cleaner alternatives. Kerosene Pricing …

Coal Stock at Power Plants Up by 20.2%: Ministry Report

Coal Stock at Power Plants Up by 20.2%: Ministry Report

18 March 2025

India has achieved a significant milestone in its coal production, reaching the highest-ever output in the financial year 2023-24.  According to the Union Minister of Coal and Mines Shri G. Kishan Reddy, the country’s domestic coal production for the year stood at 997.826 million tonnes (MT), marking an impressive growth of 11.71% compared to 893.191 …

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