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  The GDP expanded by 4.1 percent in the final quarter of the 2021-22 fiscal year, according to data released by the National Statistical Office. The slowdown seen in India's GDP growth to a four-quarter low of 4.1 per cent in January-March period of 2021-22 was mainly on account of impact of the third Covid wave and high commodity prices, opined experts. Indian economy grew at its slowest pace in a year during January-March, pulling down the Gross Domestic Product (GDP) growth in the full year to March to 8.7 per cent before Russia's invasion of Ukraine added a new inflation hurdle to the recovery. The GDP expanded by 4.1 per cent in the final quarter of the 2021-22 fiscal year, according to data released by the National Statistical Office. This was lower than the 4.8 per cent growth the Chinese economy saw in the quarter. "Provisional estimates of real GDP in financial year 2021-22 exceeds the pre-pandemic 2019-20 levels to now establish full eco

  However, the per capita income based on Net National Income (NNI) at constant price grew by 7.5 percent in FY22 over the previous year. India's annual per capita income at constant prices remained below the pre-COVID level at Rs 91,481 in 2021-22, official data showed on Tuesday. However, the per capita income based on Net National Income (NNI) at constant price grew by 7.5 percent in FY22 over the previous year. The per capita income at constant price was Rs 94,270 in 2019-20 before it dipped to Rs 85,110 in 2020-21 on account of the disruption in economic activities caused by COVID-19 pandemic and subsequent lockdowns. At current prices, the per capita income rose by 18.3 percent to Rs 1.5 lakh during in 2021-22 fiscal. The per capita income at current prices had dipped to Rs 1.27 lakh in 2020-21 from Rs 1.32 lakh in 2019-20. The per-capita income is a crude indicator of the prosperity of a country.

  The meeting will also consider payment of dividend, if any, LIC said The board of directors of the state-owned Life Insurance Corporation of India (LIC) is scheduled to meet at the end of this month to declare the financial results for the fiscal year ended March 2022. It is informed that a meeting of the Board of Directors of the Corporation is scheduled to be held on May 30, 2022, LIC said in a regulatory filing on Tuesday. The insurance behemoth, which was listed on the bourses earlier this month on May 17, said the board will consider and approve the audited financial results (standalone and consolidated) for the quarter and year ended March 31, 2022. The meeting will also consider payment of dividend, if any, LIC said. The much sought-after IPO (initial public offer) of LIC made its debut at around 8 per cent less than its issue price, in a choppy market condition mainly because of the geopolitical tensions arising out of the Russia-Ukraine war. LIC

 The easy availability of pre-approved card offers has made it simpler to  apply for a credit card , however, the question is, should you jump at the idea of getting a credit card with a pre-approved offer? Or you should give it a thought before applying for the same? Credit cards should be chosen after assessing your spending requirements and comparing all the options available to you. The best credit card for you would be the one that matches your lifestyle, spending preferences, income eligibility, credit score and more so that you can make the most out of it. However, with so many credit cards available in the market offering benefits across different categories like shopping, travel, cashback, rewards, dining, movies, it can be quite difficult to pick one. To make your search for a right credit card easier, here we have listed the factors that you should consider while choosing a credit card.  Understand Your Requirements When looking for a credit card, you should have a few thing

  The country's largest carmaker Maruti Suzuki India (MSI) on Friday said it will invest Rs 11,000 crore in the first phase of its new manufacturing facility in Haryana. The country's largest carmaker Maruti Suzuki India (MSI) on Friday said it will invest Rs 11,000 crore in the first phase of its new manufacturing facility in Haryana. The company on Friday completed the process of allotment of an 800-acre site at IMT Kharkhoda in Sonipat district with HSIIDC (Haryana State Industrial and Infrastructure Development Corporation Limited), the auto major said in a regulatory filing. The new plant's first phase with a manufacturing capacity of 2.5 lakh units per annum is expected to be commissioned by 2025, subject to administrative approvals. In the first phase, the investment would be over Rs 11,000 crore, MSI said. "The site will have space for capacity expansion to include more manufacturing plants in the future," MSI noted. At present, MSI has a cumulative produc

 Birla Estates recently launched an interactive AI Powered ChatBot solution LIDEA for its customers on WhatsApp. The solution is aimed at providing information of its projects to users who are evaluating residential developments of Birla Estates, says the company. LIDEA is conceived to provide authentic information and answers the queries around Birla Estates developments and debuts with its Whitefield, Bengaluru project- Birla Alokya. LIDEA is powered by artificial intelligence (AI) and can address users’ queries pertaining to Birla Alokya, Birla Estates’ latest development in Whitefield, Bengaluru, offering features like viewing location, configurations, amenities, virtual tours and accepting site visit requests. The solution is built to be accessible on WhatsApp and will be accessible 24x7. The launch of the ChatBot on WhatsApp adds to the digital experience of Birla Alokya, where the homes feature voice based automation and homebuyers can visualise their future home using

Making predictions about the future - especially now - would seem like a fool’s errand, but it’s easier when considering what the future holds for open source software, because the answer is quite simply… Yes. Almost 40 years after the principles of open source were outlined in a brief blog post, open source is everywhere. Linux runs the world’s supercomputers, your smart TV, air traffic control, NASA, the New York Stock Exchange, and it’s a reasonable bet that this article you're reading is hosted on Linux too.  Open source software has been quietly humming away underneath our business decisions and consumer activity for years, but awareness of open source and its benefits has recently moved beyond the conversations being had among developers or in company IT departments.  As end-users become increasingly aware of the ubiquity of open source software - whether as part of their business plans, or in the apps on their smartphone’s home screen - they will want a say in how that softw

Crypto , NFT and blockchain are all that everybody is talking about. But how can MSMEs make use and profit off of this new era of digital currency? To answer this question and several more, Business Standard had organised a panel discussion under the Smart Business event series with the World Trade Centre last Thursday on ‘The role of blockchain and digital currencies in strengthening MSMEs'. At the event, Ashish Anand, founder of WHRRL, said “Crypto and blockchain will see a convergence of the real and crypto worlds with the help of solutions that are bridging the gap between these two worlds. Decentralised finance for the real world will be one such solution. This also has the potential to bridge the Rs. 30 lac Cr. credit gap that Indian MSME sector faces.” Gaurav Somvanshi, CEO and Co-founder, EmerTech Innovations Pvt Ltd, said “Blockchain technology is trying to solve, to bring trust in our systems instead of inpiduals or organisations, has many wide-ranging effects that go bey

The Account Aggregator Ecosystem framework went live in Sept 2021. The ecosystem helps lenders to leverage on digital data acquired by taking consent from the customers, providing them a seamless journey, and eliminating the need of physical documentation.  FIU (Financial Information User) can request for data from the FIP (Financial Information User) based on a simple consent given by the customer on their Account Aggregator handle.  It is a defining moment for the AA ecosystem as Union Bank of India became the First Public Sector Bank to Go live on the Account Aggregator Framework. Union Bank will be both FIP (Financial Information Provider) and FIU (Financial Information Provider) enabling its customers to share data digitally on a real time basis.  Union Bank of India has partnered with Perfios Software Solutions Pvt. Ltd., a Sahamati empanelled TSP, to implement a full-stack solution for Financial Information Providers (FIP) and Financial Information Users (FIU) as per the ReBIT