Ministry of Finance

India’s forex reserves rise USD 3.7 billion in latest week

India's foreign exchange reserves witnessed a significant rebound, rising by $3.668 billion to $641.590 billion in the week ended May 3, according to data released by the Reserve Bank of India (RBI). This increase comes after three consecutive weeks of decline. Prior to the reporting period, the country's forex reserves had declined for three straight weeks, following a seven-week streak of growth that propelled them to an all-time high of $648.562 billion. The latest RBI data reveals that Ind...

May 1, 2024 4:34 PM

GST collection for April 2024 highest ever at Rs 2.1 lakh crore

Gross Goods and Services Tax (GST) collections surged to a record high of Rs 2.10 lakh crore in the month of April, registering a 12.4 per cent year-on-year growth. The Ministry of Finance attributed the rise in GST collection to a robust uptick in both domestic transactions, up by 13.4 per cent, and imports, which witnessed an 8.3 per cent spike. After accounting for refunds, the net GST revenue for April 2024 stood at Rs 1.92 lakh crore, showcasing an impressive 15.5 per cent growth compared...