Top headlines: US Fed projects growth, direct tax mop-up, and more

Fed sees growth surge, jump in inflation this year but no change on rates

The Federal Reserve on Wednesday repeated its pledge to keep its target interest rate near zero for years to come after projecting a rapid jump in US economic growth and inflation this year as the Covid-19 crisis winds down. Read More

More banks likely to join RBI’s list of ‘systemically important banks’

The Reserve Bank of India’s (RBI’s) list of “systemically important banks” may widen, given the changes in the pecking order after the merger of state-run players. As on date, only State Bank of India (SBI), ICICI Bank, and HDFC Bank figure in the central bank’s classification of domestic systemically important banks (D-SIBs). Read More

Direct tax mop-up betters estimate for the first time in four years

The Centre’s direct tax revenue has exceeded the revised Budget target for the first time in four years on the back of robust advance tax mop-up for 2020-21 (FY21), providing a buffer to the otherwise fiscally stressed government. Read More

Budget proposals will ease taxpayers’ burden from April 1, say experts

The Union Budget proposed a number of changes to income tax rules that will come into effect from April 1. Click here to know the impact these new provisions will have on taxpayers.

High economic growth will spare India from debt trap, say experts

With the Lok Sabha passing the Appropriation Bill on Wednesday, one of the crucial issues confronting the government is the high debt trajectory its expenditure boost will entail. Read More

Advisors push AT1 bonds to HNIs to take advantage of surge in yields

Wealth managers are advising their rich clients to buy additional tier 1 (AT1), or perpetual bonds, from the secondary market to take advantage of the surge in yields over the past few days. Read More

NSE co-location case: ED investigation likely to conclude next month

The ED has expedited the money laundering probe in the NSE co-location case after the government recently sought a detailed report from the federal agency. Read More

Former Jet Airways CEO Vinay Dube plans to launch a new airline in 2021

Vinay Dube, former chief executive officer of Jet Airways and GoAir, is exploring opportunities to launch an airline. Read More

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