Top trending finance news in India that should be aware !

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 - Fiscal Deficit:



 India's fiscal deficit for April-May stood at 3% of the annual target, indicating a significant improvement in the country's financial situation.

- GST Council Decisions:



 The GST Council has announced several measures to ease tax compliance, including a reduction in GST on carton boxes from 18% to 12% and a decrease in the maximum amount for pre-deposit for filing appeal before the appellate authority.

- External Debt:



 India's external debt rose 6% to $663 billion as of March 2024, with a $39.7 billion increase from the previous year.

- RBI's Financial Stability Report:

 The Reserve Bank of India's financial stability report highlights the importance of governance, Basel III norms compliance, and maintaining high CET1 ratios for banks.

- Monetization of Assets:

 The government has monetized Rs 3.85 lakh crore through core assets of various ministries and Public Sector Enterprises since FY22 under the National Monetisation Pipeline.

- FDI Review:

 The government has advised departments to review and monitor foreign direct investment (FDI) from countries of concern, including China.

- Online Gaming Companies:



 Online gaming companies have received summons for cashback given to players since October, with the DGGI Gurgaon detecting reimbursements of taxed money as cashback in a separate promo account

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