Economy

India Inc’s CSR spending rises 13% in 2022-23, education and healthcare dominate

India Inc’s annual corporate social responsibility (CSR) spending saw a 13 per cent rise in 2022-23, reaching ₹29,988 crore, compared to ₹26,616 crore in the previous year. More than half of this expenditure was directed towards education and healthcare, Harsh Malhotra, Minister of State for Corporate Affairs, informed the Lok Sabha in a written reply. […]

How will Elon Musk-led DOGE’s slashing of federal spending impact Indian IT companies?

Analysts suggest that DOGE’s jurisdiction primarily covers federal contracts, whilst Indian IT firms predominantly work with state and local governments. The cancellation of federal contracts by the US Department of Government Efficiency‘s (DOGE), under Elon Musk’s leadership, might affect consulting-focused technology firms working on discretionary US government projects. However, Indian IT companies are expected to […]

India’s economy set for Q4FY25 boost with increased government spending and capex: UBI report

NEW DELHI: India’s economy is expected to see a boost in Q4FY25, supported by a sustained increase in government spending and capital expenditure (Capex), alongside a pickup in consumption driven by the Maha-Kumbh and wedding season, according to a report by Union Bank of India.The report added that the Reserve Bank of India (RBI) has […]

AI spending in India to grow 2.2x faster than digital tech in 3 years, generating USD 115 billion of economic impact: IDC

NEW DELHI: Spending on Artificial Intelligence (AI) technologies will grow at 2.2x the rate of overall digital technology spending in the next three years, generating an India economic impact of over USD 115 billion by the end of 2027, according to a latest report by International Data Corporation (IDC).IDC further predicts that by 2027, company […]

Economy

India’s economy set for Q4FY25 boost with increased spending and capex: UBI report

India’s economy is expected to see a boost in Q4FY25, supported by a sustained increase in government spending and capital expenditure (Capex), alongside a pickup in consumption driven by the Maha-Kumbh and wedding season, according to a report by Union Bank of India. The report added that the Reserve Bank of India (RBI) has continued […]

Economy

October-December GDP growth seen stronger on improved rural demand, government spending

India’s economic growth is expected to have picked-up in the October to December quarter as rural consumption improved following a good monsoon and government spending gathered pace. Asia’s third-largest economy saw a sharp slowdown in the July to September quarter, with GDP growth slipping to 5.4 per cent, the slowest pace in seven quarters. Economists […]

IT dept wants details on your spending spree, ETCFO

How much do you spend on groceries in a month? What about clothes, shoes, haircuts and that restaurant meal? The I-T department wants to know. Questioning low fund withdrawals from bank accounts by some individuals, the income tax department has queried them on their monthly spending, people familiar with the matter said. The move is […]

Budget 2025: Viksit Bharat a Pipe Dream Unless Education and Healthcare Spending Gets Proportionate Boost

A close look at the budgetary numbers offers critical insights into government spending in two vital areas: education and health. Schools across the country remain underfunded, with many lacking even basic infrastructure. The crisis is so severe that the suicide rate among students has now surpassed that of farmers, a grim reflection of the pressure […]

Alipay Records Surge of China Inbound and Outbound Travel Spending During the 2025 Chinese New Year

Hangzhou, China:   The number of Alipay transactions made by outbound Chinese travelers across the 90 million-strong Alipay+ global merchants network increased by 30% y-o-y. The top destinations for Chinese travelers are Singapore, Japan, Malaysia, Hong Kong SAR, and South Korea, showing the highest growth rate in total Alipay spending. […]