News on Indian Economy
According to official data released on 27th January, the Central Board of Direct Taxes (CBDT) has issued Rs 1.62 lakh crore (US$ 21.60 billion) in income tax refunds to over 1.79 million taxpayers till January 24, 2022 of the current fiscal year.
ia’s exports of Electronic Goods touched USD 1.67 Billion last month, registering a growth of 33.99% over $1.25 Bn logged in December 2020. During April-December 2021, the Sector Exports registered a growth of 49% to USD 11.0 Billion (Provisional) over USD 7.4 Billion during same period in the year 2020.
TCS and Infosys have moved IBM from second to fourth place. IBM’s brand value is now US$ 10.6 billion, down 34% from last year and 50% since 2020. Following the divestiture of Kyndryl, the brand value of the US technological behemoth has plummeted. IBM lost almost US$ 19 billion in sales as a result of the transaction, and its brand value suffered as a result.
The Union Ministry of Electronics & Information Technology (MeitY) has invited sealed quotations from registered valuers for undertaking the asset valuation of the ISRO-owned Semiconductor Lab (SCL) at Mohali.
Johannesburg: Trade between India and South Africa has exceeded the USD 10 billion target set by the leaders of the two countries, Consul General Anju Ranjan announced at a reception here on Wednesday to celebrate India’s 73rd Republic Day.
The International Monetary Fund (IMF) on Tuesday predicted that the global economy will grow at 4.4% in 2022 and is expected to slow down to 3.8% in 2023. While releasing the latest projections for world growth, the IMF has revised India’s growth prediction for the current fiscal year ending on March 31 by 0.5% (from 9.5% earlier to 9% now) which still retains its position as the world’s fastest-growing major economy.
Exports of Engineering Goods jumped to USD 81.8 Billion during April-December 2021 (Provisional) as compared to USD 52.9 Billion during same period in the previous year (2020), registering a stupendous growth of 54%. Engineering Goods sector constitutes the largest, more than 27%, share of India’s total exports basket during the period.
Some key examples referred to included design trainings for Molela artisans in Rajsamand District, Rajasthan; skill trainings for Muga Silk weavers from Kamrup, Assam, sustained year-year trade facilitation of Lakadong Turmeric from West Jaintia Hills, Meghalaya and the promotion of ODOP products from across districts and categories at international events such as the Dubai Expo 2020.
According to the Futures Industry Association (FIA), the National Stock Exchange of India has surpassed the New York Stock Exchange as the world’s largest derivatives exchange for the third year in a row in terms of the number of contracts traded in 2021. In addition, according to the World Federation of Exchanges (WFE) figures for 2021, the exchange placed fourth in terms of cash equities trading.
Tata Motors on Friday stated it has released its brand new variety of passenger automobiles in Bhutan. The business enterprise stated it has released the product variety in association with Samden Vehicles, an authorised distributor of passenger automobiles in Bhutan.
