The GST intelligence unit detected tax evasion of more than Rs 1.98 lakh crore last year and arrested 140 masterminds who were involved in defrauding the exchequer, the finance ministry said on Thursday. In 2023, the Directorate General of GST Intelligence (DGGI) detected significant GST evasion in diverse sectors like online gaming, casinos, insurance and secondment (import of manpower services). "DGGI has achieved an increase in detection of cases of evasion and voluntary payments. In 2023, DGGI detected 6,323 cases involving evasion of duty of Rs 1,98,324 crore with a voluntary payment of Rs 28,362 crore.
'Trump has no more elections to fight and his soaring ambition, which is no secret, will be to carve out a presidential legacy that outshines by far all his mediocre predecessors.' 'Trump's turnaround on the H-1B visa debate shows that he can take tough decisions and there are no holy cows in his domain,' asserts Ambassador M K Bhadrakumar.
'Domestic investors are opening up to the idea of high-growth Internet companies as a pool of value creation.' 'They like the execution that they see with Zepto, and for us, that is the most important factor.'
Donald Trump's exaggerated opinion of his dealmaking capacity can get him into trouble, observes R Sriram.
After a prolonged winter, the Indian edtech sector seems to be witnessing some signs of a thaw. The sector has received $608.8 million of funding across 68 deals in 2024 so far - 153 per cent more than the $240.9 million across 106 deals during the same period last year - according to data from market intelligence platform Tracxn.
The Economist Intelligence Unit survey, commissioned by Dubai Holding, found that almost 60 per cent respondents believe that capitalism is entering a new era of lower risk tolerance, higher regulation and slower growth.
Executives in India and China are the most optimistic about sustainability of economic recovery, with six out of ten people reposing their faith on the turnaround in the economy, says a survey.
Traversing from being just vehicle manufacturers to mobility solutions providers amid a raging debate over which eco-friendly technology must be incentivised, the Indian automobile industry is driving in the new year under the shadow of a slowdown in sales with the post-pandemic pent-up demand in distant memory. The shift in the auto industry -- where advanced technologies like autonomous driving, vehicle intelligence, connected features and electrification are quickly gaining traction -- will be reflected in the upcoming Bharat Mobility Global Expo in which India's flagship Auto Expo has been clubbed to be held from January 17-22, 2025 in Delhi-NCR.
According to the Economic Intelligence Unit's new Global Liveability Survey, Melbourne dislodged Vancouver to become the best city in the world to live.
'As we enter 2025, it must be acknowledged that there is a convergence of capital, influential people (from business and politics) and technology deciding the destiny of others in the name of pride, patriotism, nationalism, nation building, all of it thinly veiled disguises for personal profit and glory,' asserts Shyam G Menon.
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
'It has been 14 years since I began living in exile and it's shocking that the situation in Balochistan has only worsened rather than improved.'
Even as Russia and West Asia have been slugging it out for market share in India to sell their crude oil, the US is quietly making its moves on the sidelines. The US has doubled its share of the Indian crude market in the past few months, according to industry sources and ship-tracking data. Some of the increase in America's market share may have come at the expense of Russia, India's biggest crude oil supplier, said industry sources.
This move is seen as part of efforts to strengthen China's ties with Pakistan and safeguard Chinese investments in Pakistan-occupied Kashmir, particularly related to the China-Pakistan Economic Corridor.
For Yogi Adityanath the successful management of the fair is a crucial part of building 'Brand UP' and making the state a $1 trillion economy.
'Trump's disregard for norms and institutions could prove very costly for America's social fabric.'
Ron Somers, founder and CEO of India First Group and the former President of leading business advocacy group US-India Business Council said that when Lok Sabha election results are declared on June 4, "I believe that Narendra Modi will win Parliament by the largest majority ever recorded in the country's history.
The survey assessed living conditions in 140 global cities.
The survey assessed living conditions in 140 global cities.
The report warns that it is possible for terrorists to fake documents such as passports and entry visas to cross international borders.
The Economic Intelligence Unit (EIU), on Friday said that the Union Budget presented by Finance Minister, Pranab Mukherjee, would allow the government to start exiting from its earlier-announced stimulus measures in a calibrated manner.
'Everything about farming is enjoyable and relaxing.'
The National Informatics Centre uses AI to automate document analysis and detect fraud in government departments.
The survey, an annual exercise, assessed living conditions in 140 global cities.
'While on the one hand, terrorism continues to be a serious threat to global peace and security, on the other hand, areas such as cyber, maritime and space, are emerging as new theatres of conflict'
Reports (not denied by India) that the USA had 'for the first time provided real-time details to their Indian counterparts on the Chinese positions and force strength in advance of a PLA incursion' into Tawang at the LAC in December 2022, helping India thwart China's expansionist designs, show how operationally effective the USA-India friendship has become on the ground. A engaging excerpt from Sreeram Chaulia's must-read new book, Friends: India's Closest Strategic Partners.
'The struggle of insurgents and pro-independence political activists is fuelled by a deep conviction that not only is a free Balochistan possible, but they also believe that Pakistan will inevitably break apart, leading to Balochistan's independence.'
Prices of almost all industrial commodities, barring cotton, are likely to cool down in 2008, after handsome gains in 2007, when a supply glut is expected to supersede demand.
'The Kerala BJP leadership is doing the job of clerical staff. What the boss orders, they just follow them.'
More than half (56 per cent) of chief economists expect the global economy to weaken in 2024, with most saying the pace of geo-economic fragmentation will accelerate, according to the latest "Chief Economists Outlook" released on Monday at the World Economic Forum (WEF). The report indicates that the global economic prospects remain subdued and uncertain. Challenges include tight financial conditions, geopolitical rifts, and the rapid development of generative artificial intelligence (AI).
About Rs 2,280 crore (Rs 22.80 billion) unaccounted income being allegedly routed through Private Placement Programme (PPP) has been detected by economic intelligence sleuths.
Jobs specialising in the creation and management of AI tools may witness rising salaries due to the niche expertise they require. Skills in AI research, development and the practical application of AI tools in business settings will also see strong demand.
The Central Board of Indirect Taxes and Customs (CBIC) has stepped up its watch on the import of unbranded gold jewellery amid a spurt in seizures on international borders and from importers. During FY24, the CBIC and Directorate of Revenue Intelligence (DRI) jointly seized about 5 tonnes of gold, 30 per cent more than what they did in FY23. In FY23, 3.5 tonnes of gold was confiscated.
To curb the menace of illicit fund flows, the government has set up a high level panel that will look into trade-based money laundering activities which particularly involve manipulation of invoices.
The incident remains a reminder of the inherent fragilities of all geopolitical relationships.
The SIT was created by Supreme Court and notified by the government last year to curb black money.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
This is the first time that this important nodal national agency for economic intelligence has obtained data on suspected offshore stash of Indians as, till now, such information was only received by the exclusive wing of the Central Board of Direct Taxes.
'In Parliament, he was the one person who stood for democracy and secularism even when the principal Opposition party was not very forthright in taking on the BJP and RSS.'
Is India headed there again? questions Ajit Balakrishnan
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