Rupee down 13 paise vs US dollar in late morning
Mumbai, Jan 31: The rupee declined by 13 paise to trade at 63.73 against the US currency in late morning deals following continued bouts of month-end dollar demand from importers and banks amid lower domestic equities. The rupee opened lower at 63.67 per dollar as against yesterday’s closing level of 63.60 at the inter-bank foreign […]
Equities rise after Economic Survey pegs fiscal growth at 6.75%
Mumbai, Jan 29 : Key Indian equity indices continued to gain during the mid-afternoon trade session on Monday after the Economic Survey for 2017-18 tabled in Parliament pegged the country’s growth at 6.75 per cent for the current fiscal and 7 to 7.5 per cent in 2018-19. “A series of major reforms undertaken over the […]
FM hints at further rejig of GST rates
January 27, 2018 Finance Minister Arun Jaitley today said the goods and service tax has stabilised in a very short time that provides an opportunity to widen its base and further rationalise the rates in the future. Also, he said the GST has brought about an entire change in the indirect tax system in the […]
Income tax relief soon? Deduction may be raised to Rs 2.5 lakh
January 25, 2018 The finance ministry is considering giving relief to taxpayers in the form of higher income tax deduction, said two government officials familiar with the developments. The current relief is Rs 2 lakh and discussions are on to increase it to at least Rs 2.5 lakh. The extra deduction, however, will be available […]
Petrol prices at 3-year high; diesel at record high
New Delhi, Jan 24 : Petrol and diesel prices kept spiralling even on Wednesday, touching new highs in the national capital and other metros. Petrol was sold at Rs 72.43 per litre in Delhi, the highest in three years. It cost Rs 72.51 on August 2014, according to data from Indian Oil Corp. In Kolkata, […]
Budget 2018: Good news for health insurance likely
January 15, 2018 Health insurance premiums could get larger tax breaks, as the finance ministry has asked the apex body of general insurance firms to examine the proposal for the Budget 2018-19. The government is willing to consider the demand, since health insurance costs have moved centre stage in the policy circles. The Narendra Modi-led […]
Why Jaitley is under no pressure to present a populist Budget
January 15, 2018 A view, currently shared by a large number of people, is that the Union government’s Budget for 2018-19 will be populist. The argument is that this will be the last full Budget of the Modi government in its current tenure. Hence, it will make sense for Finance Minister Arun Jaitley to dole […]
Oil reaches multi-year highs despite signs of overheated market
LONDON : – Oil prices hit multi-year highs on Thursday despite warnings that a 13 percent rally since early December was close to running its course. Brent crude futures rose 27 cents to $69.47 a barrel at 1039 GMT, its highest since an intra-day spike in May 2015. U.S. West Texas Intermediate (WTI) crude futures […]
India’s Sensex ends 28% higher, Nifty50 by 29% in 2017
Mumbai, Dec 29 : India’s key equity indices — Sensex and Nifty50 — closed calender year 2017 higher by 28 per cent and 29 per cent respectively. The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 34,056.83 points — up 27.90 per cent — from last year’s close at 26,626.46 points. The broader […]
Fiscal deficit breaches FY18 target at Nov-end
New Delhi, Dec 29: India’s fiscal deficit at the end of November breached the target and touched 112 per cent of the budget estimate for 2017-18 mainly due to lower GST collections and higher expenditure. In absolute terms, the fiscal deficit — the difference between expenditure and revenue — was Rs 6.12 lakh crore during […]
