Budget 2023: How Government Earns And Spends Every Rupee

Budget 2023: How Government Earns And Spends Every Rupee

For every rupee the government spends, 20 paise goes into repayment of debt, liabilities. New Delhi: For every rupee that the Government of India earns, 34 paise comes through borrowings and liabilities while Goods and Services Tax (GST) contributes 17 paise, the 2023 Union Budget reveals. Income tax and corporation tax add 15 paise each … Read more

Reliance Retail to Accept Digital Rupee CBDC Payments in Mumbai, Details Here

Reliance Retail to Accept Digital Rupee CBDC for Payments in Mumbai Amid India’s Silence on Crypto

Reliance Retail on Thursday, February 2, reportedly announced that it would begin using India’s digital rupee CBDC across its stores in Mumbai. The retail giant has partnered with ICICI Bank and Kotak Mahindra Bank to accept and process CBDC payments. The government of India has been rolling out its CBDC in select cities including Mumbai. … Read more

Budget 2023: For Every Rupee In Government Coffer, 58 Paise Will Come From Taxes

Rupee Rises 21 Paise To 82.66 Per Dollar, Reversing Friday

The government is also looking to earn 7 paise out of every rupee from excise duty. New Delhi: For every rupee in the government coffer, 58 paise will come from direct and indirect taxes, 34 paise from borrowings and other liabilities, 6 paise from non-tax revenue like disinvestment and 2 paise from non-debt capital receipts, … Read more

Rupee Could Remain Under Depreciation Pressure Due To Widening CAD: Economic Survey

The Survey said the “risks to the current account balance stem from multiple sources”. (File) New Delhi: The Indian rupee may remain under depreciation pressure on account of plateauing of exports and subsequent widening of the current account deficit, said the Economic Survey 2022-23 tabled in Parliament on Tuesday. It said the “risks to the … Read more

Rupee Declines 10 Paise To 81.69 Against Us Dollar

At the interbank foreign exchange, the domestic unit opened weak at 81.69 against the dollar. (File) Mumbai: The rupee depreciated 10 paise to 81.69 against the US dollar in early trade on Monday, weighed down by significant foreign fund outflows. At the interbank foreign exchange, the domestic unit opened weak at 81.69 against the dollar, … Read more

Pakistan Rupee Slumps To Record Low, Crisis-Hit Nation Seeks Bailout

Cash-Strapped Pakistan

The Pakistani rupee fell by Rs. 24 and was trading at Rs. 255 against the US dollar New Delhi: Pakistan’s currency fell to a record low of 255 PKR against the US dollar on Thursday, according to local media reports. The tumble comes after the cash-strapped government relaxed its grip on the exchange rate to … Read more

Centre’s 2023/24 Gross Borrowing Could Be Less Than Expected: Report

India borrowed 1.1 trillion rupees and 1.59 trillion rupees in 2020-21 and 2021-22, respectively. (File) Mumbai: India’s central government’s gross market borrowings for 2023/24 could come in below market expectations as a pool of securities raised to compensate states for a shortfall in goods and services tax may not be rolled over, a few economists … Read more

Rupee May Firm Past 81 Per US Dollar As Budget 2023 Looms

Market participants will keep a close eye on foreign portfolio inflows into Indian markets. (File) Mumbai: The Indian rupee is expected to extend its gains this week, while government bond yields may move marginally higher due to worries about yet another year of elevated borrowing. With a holiday-shortened week in India, the Chinese New Year, … Read more