Indian financial system looks stronger than in the past and the country's economy is an outlier even as strong headwinds globally, Reserve Bank of India Deputy Governor M Rajeshwar Rao said. Delivering the J P Morgan India Leadership Series Lecture here, the RBI official also highlighted that India has achieved the highest climate change performance index (CCPI) score among G20 members in 2024, which reflects the country's unwavering commitment to this cause. "This also shows that by aligning economic policies with climate action, we can spur green investments, enhance energy efficiency, and foster sustainable development across the sectors," he said in the lecture on 'Climate Change -- The Emerging Challenge'. Rao said the global financial system is facing strong headwinds from various quarters, including high levels of public debt, stretched asset valuations, economic and financial fragmentation, geopolitical tensions, and risks arising from increasing cyber threats. "Amidst thes

Additional 5% 'run-off' factor imposed on retail deposits in view of proliferation of digital banking

The corporate component of the scheme is voluntary in nature and includes people working in public sector organisations, private limited companies, or public sector banks among others

Both the finance minister and the economic survey have highlighted the success of IBC

Move aimed at reducing impact of rising landslide, slope destabilisation in hilly areas where national highways have been built

The retail price for 'Bharat atta' and 'Bharat rice' has been revised for new stocks

A system of quarterly disbursement is in place for many sectors, except for few, such as food processing, where it is not feasible, he says

These include migration, as an increasing number of people living in rural areas are moving to urban areas

US Treasury Secretary Janet Yellen in May accused India of refusing to engage on issues important to US interests, noting that negotiations were stuck

Mega deal makes Texmaco biggest rolling stock maker in India

Rao said that such events can destroy assets funded by institutional finance, thereby harming the financial health of these institutions

Malhotra said that the exercise is not linked to bringing a new Direct Tax Code, but a comprehensive review of the income tax law

Cites fiscal federalism to highlight power of states to tax

India needs a 'clearer set' of guidelines for approving Foreign Direct Investments (FDI) from China expeditiously as the system of case-by-case review is slow, NITI Aayog vice chairman Suman Bery has said. Bery further said at the moment India scrutinises FDI proposals from China for security purposes similar to what the United States is doing. "I think what is needed, on the basis of experience, is a clearer set of guidelines because case-by-case review is slow and we do have an interest in getting investment from China because China is surplus in savings, it has got good technology," he told PTI. Earlier this week, the pre-budget Economic Survey has also made a strong case for seeking FDI from Beijing to boost local manufacturing and tap the export market. "But the fact of the matter is that we have diplomatic difficulties with them and so we have to be cautious," the NITI Aayog vice chairman observed. At present, the bulk of the FDI coming into India falls under the automatic .

Meeting will on Friday review steps taken by ministries and departments for generating employment

India and the UK on Wednesday firmed up a landmark technology security initiative that sets out a bold new approach for collaboration in a range of "priority" sectors including telecom, critical minerals, semiconductors and artificial intelligence, with a broader aim to elevate their strategic partnership to the next level. The decision on the UK-India Technology Security Initiative was made public following wide-ranging talks between External Affairs Minister S Jaishankar and his visiting British counterpart David Lammy. In the discussions, both sides appreciated the "substantial" progress made in the India-UK FTA negotiations and looked forward to its "early conclusion" to achieve a mutually beneficial deal, the Ministry of External Affairs (MEA) said. It is learnt that the Indian side, during the talks, flagged its concerns over activities of pro-Khalistan elements in the UK while the British side raised the issue of Christian Michel, the key accused in the AgustaWestland VVIP ..

Budget's focus is to create jobs and improve workforce skills

The Budget has taken up several welcome measures for their benefit and overall trade facilitation

Tax proposals aim to bring in uniformity, improve compliance and reduce litigation

About 66 per cent of taxpayers out of the over 4 crore filers have opted for the new regime for income tax return (ITR) filing during the current season till now, CBDT Chairman Ravi Agrawal said Wednesday. He told PTI during a post-Budget interview that the focus of the government and the direct taxes administration is on "simplification" of the tax processes including filing of ITRs and conduct of other businesses with the Income Tax Department. "The philosophy (of the government) is that the more you simplify, the more it will make it easy for people to comply leading to increased compliance. "This is also reflected from the fact that, as on date, the number of returns (ITRs) that have been filed till yesterday is significantly more than the returns filed during the same time in the corresponding (last) year," Agrawal said. Last year, the figure of 4 crore ITR filings was crossed on July 25 but this time this number was crossed on the night of July 22, he said. He said there was