 "Top headlines: Indian economic growth by 2029, ED raids Paytm, and more")
India is likely to become third largest economy by 2029: SBI report
India is likely to become the third largest economy by 2029 -- up seven places since 2014 when the country was ranked 10th -- a State Bank of India report stated on Saturday. India is currently ranked fifth largest economy.
"The path taken by India since 2014 reveals the country is likely to get the tag of third largest economy by 2029," the report said. Read more here
Chinese loan apps case: ED raids Razorpay, Paytm, Cashfree in Bengaluru
The Enforcement Directorate on Saturday said it is conducting raids at Bengaluru premises of online payment gateways like Razorpay, Paytm and Cashfree as part of an ongoing probe against "illegal" instant smartphone-based loans "controlled" by Chinese persons.
The searches were launched Friday at six premises in Karnataka's capital city, it said in a statement. Read more here
CBDT issues refunds of over Rs 1.14 trillion between April to August
The Central Board of Direct Taxes (CBDT) said on Saturday that it has issued refunds of over Rs 1.14 trillion to more than 19.7 million taxpayers between April 1 to August 31.
It also said that income tax refunds of Rs 61,252 crore have been issued in 19,600,998 cases and corporate tax refunds of Rs 53,158 crore have been issued in 1,46,871 cases. Read more here
Alliance Air to hold Board meeting on Sept 16 to restore pilots' salaries
Disinvestment-bound regional carrier Alliance Air will hold a Board meeting on September 16 to restore pilots' salaries to pre-pandemic levels, CEO Vineet Sood said on Friday.
Sood issued the email yesterday evening after a significant number of pilots went on strike during the day on the issue of salaries' restoration, forcing the airline to cancel many flights. Read more here
OPEC+ faces output dilemma amid concerns of a global economic slowdown
The OPEC+ coalition is heading into unfamiliar territory.
After spending two years gradually feeding idle oil production back into the post-pandemic world, Saudi Arabia and its partners are facing a different market. The narrative that’s dominated the last few months -- pressure from key consumers like the US to tame inflation by ramping up supply -- is shifting toward concerns about a global economic slowdown. Read more here
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →Subscribe to Business Standard digital and get complimentary access to The New York Times
Quarterly Starter
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
Save 46%
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%