According to MSME Minister Narayan Rane, the SRI fund will benefit 5,000 MSMEs. In May 2020, Finance Minister Nirmala Sitharaman announced it would make equity investments in MSMEs growth once the fund is operational. Furthermore, the SRI fund Fund will operate under the mother-fund and daughter-fund structure. It will also be listed on stock markets
India’s Finance Minister Nirmala Sitharaman announced to impose a 30% tax on cryptocurrency. Partner at IndusLaw, Ritesh Kumar, told Business Insider, “The 30% rate of tax and restriction to set-off losses is a very bold move in discouraging transactions in crypto.” Nirmala Sitharaman, Finance Minister of India, said during the Union Budget 2022-23, “Cryptocurrencies will
Providing a broad-spectrum booster shot to the economy, Union Budget 2022-23 is progressive – especially with its emphasis on building the infrastructure of the country. The FM clearly emphasised the top priorities of the government – PM Gati Shakti for sustainable growth, inclusive development, productivity enhancement, and financing of investments. Notably, the government also expanded
According to a recent report published by the World Gold Council (WGC), India saw a huge increase in gold consumption in 2021, which would probably continue to rise in 2022. Indian gold market sold 797.3 tonnes of goods in 2021, a 78 percent increase from 446 tonnes in 2020. Further, the predicted consumption for 2022
New Zealand (NZ) is hit by a bad wave of inflation. According to reports New Zealand inflation rate hit 5.9 percent recently, experiencing the fastest growth rate since 1990. This is a very rapid increase as the inflation rate just in September, 2021 was at 4.9 percent. “Rising inflation leads to rising interest rates which
A new report by International Monetary Fund (IMF) shows reduced rate of global economic growth at 4.4 percent, lower than its earlier prediction of 4.9 percent. The report states that the larger than expected lockdowns in United States (U.S) and China are responsible for this reduction. “We project global economic growth this year at 4.4
As of 24th January 2022, Maharashtra reported 92,055 property registration in the first month of 2022. Though this is 33% lower compared to the previous month, a few working days are still left for the month to end. Anuj Puri, Chairman – ANAROCK Group said, “The revenue from property registration in Maharashtra has also declined
The smartphone market in India bounced back strongly in 2021. According to a report by research firm Canalys, Indian smartphone market registered 12 percent growth in 2021 compared to 2020. The reports states that smartphone manufacturers shipped 162 million devices in 2021 despite the chaos brought on of the pandemic. “Following a strong comeback in
The Financial Services Authority (OJK) warned that Indonesia bans financial firms from trading cryptocurrency. The regulators also warned that people must understand the volatility and risks of cryptocurrency before investing in it. Cryptocurrency in Indonesia In a statement posted on Instagram, the regulators said, “OJK has strictly prohibited financial service institutions from using, marketing, and/or
Russia’s Central banks make a move against Cryptocurrency. Russia decides to impose a ban on cryptocurrency trading and mining. Pavel Durov, the founder of the telegram, says that “Russia’s Crypto ban might drive out IT professionals and no developed countries ban cryptocurrencies.” The third-largest Crypto mining nation outlaws Crypto trading and mining. Russia’s move against
