The proposal was suggested by the Reserve Bank of India and is currently under active consideration by the Finance Ministry. Looking to tackle foreign outflows and preserve forex, the government is weighing a major cut in the tax burden imposed on foreign investors investing in domestic bonds. Policymakers are looking to bring the country’s framework…
The government is evaluating a proposal to substantially reduce taxes on bond investments made by foreign investors. (AI image) Stock market rally today: Sensex and Nifty50 rallied strongly in trade on Thursday as firm global cues and possible steps to stem rupee’s fall boosted confidence. Both benchmarks rose over 1%, even as global and domestic…
India’s wholesale price inflation accelerated sharply to 8.30 per cent in April from 3.88 per cent in March, driven mainly by a steep rise in fuel, power and crude oil prices amid the ongoing West Asia crisis, according to government data released on Wednesday.Data released by the ministry of commerce and industry showed that inflation…
India’s reserves have fallen 5.2% to $691 billion. (AI image) Philippines and India are the Asian countries that have seen the highest percentage losses to their foreign exchange reserves as a result of the ongoing US-Iran conflict that has sent global crude oil prices to above $100 per barrel levels. Foreign-exchange reserves across Asia are…
India’s demand for natural gas has been climbing steadily as the country seeks to raise the share of gas in its overall energy basket. (AI image) As concerns surrounding the Strait of Hormuz intensify, India is fast-tracking efforts to secure uninterrupted gas imports from the Gulf through a direct subsea pipeline. With energy security emerging…
India has reportedly approached the United States to extend its waiver on Russian oil imports as the Strait of Hormuz continues to see disruptions for 75 days now, straining oil supplies across the world. The US had first cleared the arrangement in March and expanded it later, with the current authorisation set to remain valid…
The move to up the gold import duty comes days after PM Narendra Modi appeals to citizens to avoid unnecessary gold purchases for a year. (AI image) In a bid to keep foreign exchange reserves buffer intact, the government has raised the import duty on gold and silver to 15% from 6%. India is the…
MCX Gold is holding a bullish tone on the weekly chart, bouncing from recent lows and pushing back toward the recent swing high. (AI image) Gold and silver price prediction today: According to Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group, both gold and silver prices are exhibiting a bullish bias this…
The Centre on Wednesday prohibited sugar exports with immediate effect till September 30 or until further orders, as the government moved to curb domestic prices and ensure adequate local availability amid concerns over lower production.In a notification issued by the Directorate General of Foreign Trade (DGFT), the government amended the export policy for sugar under…
NEW DELHI: Govt Wednesday said it is going ahead with planned capital expenditure, developmental spend and subsidy payments, and no budget cuts were planned. Days after PM Narendra Modi’s calls for reducing non-essential spends such as overseas weddings, fuel consumption and fertiliser use, officials argued there was no plan for “austerity”, which usually suggests budget…
