Economy News ( English version)

The world's third largest economy in terms of purchasing power parity is going to contribute about 14% of global growth this year, he said, even as the country is facing the risk of rising deficit due to higher import bills on the back of global commodity prices.

The tax department said corporate tax collections at Rs 7.23 lakh crore in fiscal 2021-22 (April 2021 to March 2022) were 58 per cent higher than the mop-up in the previous financial year.

"Seafood exports from Bengal have grown six times in eight years to Rs 8000-9000 crore now and in the next five years it can grow to Rs 18000-20,000 crore. The government should continue to take such proactive steps," Seafood Exporters Association (SEA) president (West Bengal) Rajarshi Banerji said.

India, the world's third-biggest crude importer, overtook China to become the biggest buyer of Russian oil in July based on sea-borne volumes, having bought very little from the country before the start of the war in Ukraine in February. Also in July, Russia became India's third-largest coal supplier, up from the sixth position historically, as dis […]

The department has refused to release any additional amount for work initiated after March 31, as the scheme had been phased out as part of a rationalisation of centrally sponsored schemes, officials in the finance ministry said.