GeM: Achieving ₹2 Trillion Milestone and Aiming Higher in FY24
e GeM Chief Executive Officer, P K Singh, expects the portal to surpass the previous year’s transactions of INR 2 trillion, with a forecast of exceeding INR 3 trillion in procurement for the fiscal year 2022-23.
Bharatmala Project: Transforming India with Rs 10.64 Lakh Crore Investment
Bharatmala Pariyojna is a mega road development project launched by the Government of India in 2017. The project aims to improve the connectivity and efficiency of the road network across the country by building new highways, bridges, tunnels, expressways, and logistics parks. The project covers a total of 83,677 km of roads, which will be […]
India’s Oil and Gas: Tax Reductions Drive Industry Expansion
the government announced a reduction in windfall profit taxes on domestically produced crude oil and diesel exports on November 16, 2023. The tax on crude oil was slashed from ₹9,800 per tonne to ₹6,300 per tonne, while the tax on diesel was reduced from ₹2 per litre to ₹1 per litre. This strategic decision is poised to have a far-reaching impact on various aspects of the Indian economy.
Online Gaming in India: Growth Narrative and Tax Obstacles
The imposition of a 28% Goods and Services Tax (GST) on online gaming, casinos, and horse racing by the GST Council in India, announced in July 2022,
e-Rupee: Navigating India’s Digital Currency Revolution
, the Digital Rupee had reached 50,000 users and 5,000 merchants. Notably, e₹-W averaged ₹3.25 billion in transactions per day in November 2022. Major retail chains and payment gateways have started accepting e₹-R for transactions. Furthermore, UPI interoperability has been integrated, allowing users to make payments using the digital rupee through existing UPI QR codes and virtual payment addresses.