The State Bank of India (SBI), in its pre-budget report ‘Prelude to Union Budget 2025-26’, has recommended a flat 15% tax on interest income from term deposits across all maturities, a shift from the current slab-based system. The proposal aims to align deposit taxation with equities and stabilize bank liquidity but risks an annual revenue … Read more
Household indebtedness has more than doubled over the last decade. But the good part is that reliance on informal sources of finance has fallen over the period according to a report by SBI economists. Also household indebtedness may have declined in Q1’2021-22 after sharp spike in Q1’2020-21 due to a rise in GDP in the … Read more
India’s gross domestic product (GDP) is expected to grow at around 18.5% in the first quarter of the current financial year, SBI noted in its research report Ecowrap, lower than the RBI’s 21.4% projection. “Based on our ‘Nowcasting’ model, the forecasted GDP growth for Q1 FY22 would be around 18.5% (with upward bias),” the report … Read more