India Now 4th Largest Economy 🌏
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🗞️ India Now World’s 4th Largest Economy
India has overtaken Japan to become the 4th largest economy globally, according to NITI Aayog CEO BVR Subrahmanyam. With a nominal GDP of over $3.7 trillion, India is now only behind the US, China, and Germany.
💬 Expert Take: “This shift reflects India’s resilience and reforms, but sustaining momentum requires structural improvements in ease of doing business,” — Saugata Bhattacharya, Chief Economist, Axis Bank.
🗞️ RBI’s ₹2.68 Lakh Cr Dividend Beats Estimates
The RBI’s record dividend payout to the Centre exceeds expectations by over ₹85,000 crore. Analysts say it will help the government reduce its fiscal deficit and borrowing requirements.
💬 Expert Take: “This windfall gives the government headroom for spending without breaching fiscal targets, and could impact bond yields,” — Madhavi Arora, Lead Economist, Emkay Global.
🗞️ LIC Enters Guinness Book with Sales Feat
LIC has set a Guinness World Record by selling 5.8 lakh insurance policies on a single day — March 1, 2024 — showcasing its deep distribution and trust factor.
🗞️ GST Council Meet on Rate Restructuring Soon
The GST Council is expected to meet shortly to discuss rate rationalisation and the continuation of the compensation cess. Policy tweaks could impact sectors like auto, FMCG, and telecom.
🗞️ Net FDI Fall Sparks Political Criticism
Jairam Ramesh flagged concerns after RBI data showed a 62% drop in net FDI in FY24. The opposition has termed it a reflection of declining investor confidence in policy consistency.
🗞️ India’s Forex Reserves Dip by $4.9 Billion
India’s forex reserves declined to $685.7 billion, falling by $4.9 billion as of May 16, driven by central bank interventions and currency valuation changes.
🗞️ TCS Loses ₹17,710 Cr in 5 Days
Tata Consultancy Services saw a steep fall in market cap due to a 5-day share price drop. A mix of global tech sell-off and profit booking contributed to the decline.
🗞️ Top Indian Firms Lose ₹78,000 Cr in Market Cap
India’s largest listed companies collectively lost ₹78,000 crore in market value amid weakening sentiment, global cues, and sectoral pressure.