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Higher oil prices lead to surge in inflation and hurts growth in large-scale importer like India. NEW DELHI: India, the world’s third-biggest oil importer, is watching the ongoing conflict in the Middle East closely, the country’s oil minister Hardeep Singh Puri said on Monday. Oil prices rose over $3 a barrel on Monday as military…
Read More “As Oil Prices Rise Amid Israel-Gaza War, India Says Watching Closely” »
Representational image only. | Photo Credit: The Hindu The Rupee witnessed range-bound trading against the U.S. dollar in early trade on October 9, weighed down by a negative trend in domestic equities and the strength of the American currency in the overseas market. Forex traders said the safe-haven dollar gained ground amidst heightened concerns in…
Read More “Rupee trades in narrow range against U.S. dollar in early trade” »
Representational image only. | Photo Credit: Reuters Benchmark equity indices tumbled in early trade on October 9 as escalating tensions in Middle East triggered a risk-off in the market. Market analysts said investors preferred to remain on the sidelines and refrained from taking big risks as the Israel-Hamas conflict has introduced a huge uncertainty for…
Read More “Markets tumble in early trade amid tensions in Middle East” »
Food inflation stood at around 10% in August. | Photo Credit: SUSHIL KUMAR VERMA India’s retail inflation is likely to have retreated below 6% in September after two months over the central bank’s tolerance threshold, thanks to cooling prices for most essential commodities and food items, barring pulses that are seeing a sustained uptick in…
Read More “Retail inflation likely eased in September, but may be higher than RBI hopes” »
Finance Minister Nirmala Sitharaman. File | Photo Credit: PTI Amid the sustained slump in India’s exports, the Goods and Services Tax (GST) Council has cleared a few measures to boost foreign trade, including enabling tax credits for services exporters receiving payments in rupees, critical for trade with countries like Iran and Russia that face global…
Read More “GST Council lifts tax blockages for rupee trade ” »
Petrol and diesel prices are unlikely to be increased despite firming raw material costs because of upcoming general elections next year, Moody’s Investors Service said. Three state-owned fuel retailers — Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) — which control roughly 90% of the market, have kept…
Reports of Akasa Air, initiating legal action and seeking ₹21.6 crore as compensation from 43 of its former pilots for leaving without serving their six-month notice period, and in turn, India’s youngest and low cost airline suffering significant flight cancellations — 600 in August and about 700 in September — have again spotlighted a core…
Read More “Pilot shortage creates turbulence for aviation sector” »
Finance Minister Nirmala Sitharaman speaks during a media briefing regarding the outcome of the 52nd Goods and Services Tax Council Meeting in New Delhi on October 7, 2023. | Photo Credit: PTI The Goods and Services Tax (GST) Council on Saturday lowered the tax rates on certain millet-based products, tweaked the age-related norms for members…
Read More “GST Council affirms 28% tax on online betting from October 1” »
GST Council also decided to levy 5 per cent tax on millet-based flour when sold in pre-packaged New Delhi: The GST Council on Saturday clarified that guarantees provided by corporates to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director…
Read More “18% GST On Corporate Guarantees For Their Subsidiaries” »
The GST Council decided to clarify levy of 28 per cent GST on online gaming platforms New Delhi: As states like Delhi and Goa raised the issue of tax demand on online gaming companies and casinos retrospectively, Revenue Secretary Sanjay Malhotra on Saturday reiterated that 28 per cent GST was levied on online gaming and…
Read More “28% GST Already Applied On Online Gaming, Casinos, Not Retrospective: Centre” »