The central government’s fiscal deficit fell sharply to 0.8 per cent of the full-year target at the end of May 2025, aided by a record Rs 2.69 lakh crore dividend received from the Reserve Bank of India, according to data released by the Controller General of Accounts (CGA).In April, the fiscal deficit stood at 11.9…
The new fares shall be effective for tickets purchased from July 1, 2025. Indian Railways has on Monday officially notified a minor increase in railway fares, effective July 1, 2025. TOI had earlier reported that fares for passenger trains are likely to be hiked marginally.According to the Ministry of Railways, the adjustment aims to improve…
The Indian economy continues to grow at a healthy pace, remaining a key driver of global growth due to sound macroeconomic fundamentals and prudent policies, according to the Reserve Bank of India’s latest Financial Stability Report (FSR) released on Monday.In its half-yearly assessment of the financial system, the RBI said, “Despite an uncertain and challenging…
Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) are two separate provisions under the Indian tax regime, both intended to facilitate early and efficient tax collection. Though applied during transactions, they differ in usage, liable parties, and the nature of the payments they cover.For both individuals and businesses, understanding how TDS and…
IndusInd Bank has submitted three names — Rajiv Anand, Rahul Shukla, and Anup Saha — to the Reserve Bank of India (RBI) for the position of managing director and CEO, with the board recommending Anand as its top choice, Reuters reported citing two sources.The shortlist comes after the resignation of former CEO Sumant Kathpalia and…
Short-haul destinations in Asia continue to attract Indian travellers despite a decline in long-distance travel since summer due to geopolitical issues. Countries such as Thailand, Malaysia, Vietnam, Indonesia, Bhutan, Sri Lanka, and Nepal maintain their appeal, according to travel firms.“While travellers have considered delaying or postponing plans, Southeast Asia has emerged as a go-to destination…
Mid-market global capability centres (GCCs) are expected to generate 40,000 new jobs in India by the end of 2026, expanding their total workforce to over 260,000, according to data from talent solutions firm ANSR shared with the Economic Times. Around 120 new mid-sized GCCs are anticipated during this period, largely across the software, banking, finance…
For years, influential individuals have employed this scheme of purchasing agricultural property at understated values through cash payments. (AI image) Tax authorities are now scrutinising the often used practice of using agricultural land transactions to conceal unaccounted money. A recent verdict from the Income Tax Appellate Tribunal (ITAT) could potentially disrupt this established practice. According…
Remittances constituted over 10% of the total gross current account inflows. Remittances from Indian diaspora hit record high! The overseas Indian community transferred $135.46 billion to India during the previous fiscal year, setting a new record. For over ten years, India has maintained its position as the leading recipient of diaspora remittances globally.The Reserve Bank…
As Canadians gear up for fireworks, backyard barbecues, and community celebrations this Tuesday, July 1, it’s important to know which services and establishments will be open or closed on the Canada Day holiday. Here’s a detailed guide to help you plan your day: Government services Federal and provincial government offices will be closed for the…
