Top Headlines: Indian Economic Growth By 2029, ED Paytm Raids, And More
India is set to become the third largest economy by 2029 (SBI report)
India is likely to become the third largest economy by 2029 – up seven places from 2014, when the country was ranked 10th – a State Bank of India report said on Saturday. India is currently ranked the fifth largest economy.
“India’s path since 2014 reveals that the country is set to become the third largest economy by 2029,” the report said. Learn more here
Chinese Lending Apps Case: ED raids Razorpay, Paytm, Cashfree in Bangalore
The Law Enforcement Directorate said on Saturday it was carrying out raids on the Bangalore premises of online payment gateways like Razorpay, Paytm and Cashfree as part of an ongoing investigation into “illegal” instant lending. ” on smartphones “controlled” by Chinese.
The searches were launched on Friday at six premises in the capital of Karnataka, he said in a statement. Learn more here
CBDT issues refunds of over Rs 1.14 trillion between April and August
The Central Board of Direct Taxes (CBDT) said on Saturday that it had issued refunds of more than 1.14 trillion rupees to more than 19.7 million taxpayers between April 1 and August 31.
He also said that income tax refunds of Rs 61,252 crore were issued in 19,600,998 cases and corporate tax refunds of Rs 53,158 crore were issued in 1,46,871 cases. Learn more here
Alliance Air will hold a board meeting on September 16 to restore pilot salaries
Divestment-linked regional carrier Alliance Air will hold a board meeting on September 16 to restore pilot salaries to pre-pandemic levels, CEO Vineet Sood said on Friday.
Sood released the email last night after a significant number of pilots went on strike during the day over the issue of wage restoration, forcing the airline to cancel many flights. Learn more here
OPEC+ faces production dilemma amid fears of global economic slowdown
The OPEC+ coalition is heading into uncharted territory.
After spending two years phasing idle oil production back into the post-pandemic world, Saudi Arabia and its partners face a different market. The narrative that has dominated in recent months – pressure from key consumers like the United States to tame inflation by increasing supply – is shifting to worries about a global economic slowdown. Learn more here