The Ministry of Statistics and Programme Implementation (MOSPI) recently released the first advance estimate for FY25 GDP growth, pegging it at 6.4%. While this signals a deceleration compared to recent years, much of the slowdown is reflective of the first half of the financial year.
Gratuity is a statutory benefit given to employees as a token of appreciation for their long-term service to an organization. Introduced by the Indian government under the Payment of Gratuity Act 1972, gratuity is a lump sum payment made to employees when they retire, resign, or are terminated after having worked for the same employer for a period of 5 years or more. The amount is calculated based on the employee’s last drawn salary and the number of years they have worked with the company. Before the Payment of Gratuity Act, 1972, there was no formal mechanism for gratuity payments, making this law a significant milestone in employee welfare.
The process of securing loans in India has become much smoother compared to decades ago. Today, when you apply for a loan, banks monitor your credit activities, including the number of loans you take, the amounts, the types of loans, and your repayment habits. All these factors contribute to understanding your credit behavior.
Indian Prime Minister Narendra Modi earned a narrow victory in the election results declared last week, sparking a roller-coaster 48 hours for Indian equity markets.
Private consumption, government spending, investment, and exports fuel India’s GDP. While over-all private consumption & private investment has been less than what we’ve hoped for thus far, India’s exports and govt spending have done some of the heavy lifting for the GDP number.