Informist Media: The government has extended the import duty exemption on cotton to Dec. 31 from Sept. 30, according to a release by the finance ministry. The extension is aimed at supporting cotton exporters further, the release said. A notification for this will follow, it said. On Aug. 18, the government temporarily removed the 11% duty on raw cotton imports with immediate effect till Sept. 30.
The removal of duty comes amid industry demands to permit duty-free cotton imports amid steep 50% US tariffs on Indian goods, including textiles, which came into effect on Wednesday. New Delhi’s de
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Informist Media: The Reserve Bank of India’s Monetary Policy Committee will continue to prioritise growth, especially in the wake of rising global tensions, while ensuring price stability, the central bank’s Governor Sanjay Malhotra said Monday. His comments assume significance against the backdrop of looming threats from tariffs announced by the US, with the entire 50% set to hit Indian exports from Wednesday. The Monetary Policy Committee will continue to keep in mind the growth objective while anchoring inflation, Malhotra said.
“We are now at a critical juncture as we navigate the chop
“We are now at a critical juncture as we navigate the chop
INFORMIST MEDIA : The GST Council will hold its 56th meeting on Sept. 3-4 in the national capital, Revenue Secretary Arvind Shrivastava said in an office memorandum Friday. The meeting assumes significance after Prime Minister Narendra Modi's announcement from the ramparts of the Red Fort on Independence Day about the government's "Diwali Gift" in the form of lower goods and services taxes. The Centre has initiated an overhaul of the indirect tax structure which will include rationalisation of the number GST rates slabs from four to two.
The council had last met in Jaisalmer in December. A d
The council had last met in Jaisalmer in December. A d
INFORMIST MEDIA : India Post has temporarily suspended postal services to the US, with Washington set to end duty-free entry of goods valued up to $800 from Aug. 29. Effective Monday, the Department of Posts will only accept bookings for letters, documents, and gift items up to $100 in value for shipment to the US, the government said Saturday.
“The Department is closely monitoring the evolving situation in coordination with all stakeholders, and every effort is being made to normalize services at the earliest possible opportunity,” the government said in a release. “Customers who have alr
“The Department is closely monitoring the evolving situation in coordination with all stakeholders, and every effort is being made to normalize services at the earliest possible opportunity,” the government said in a release. “Customers who have alr
Wholesale prices in India declined on a year-on-year basis for the second consecutive month in July, with WPI inflation falling to a two-year low of (-)0.58%, data released by the commerce ministry Thursday showed. WPI inflation was (-)0.13% in June and 2.10% a year ago.
At (-)0.58%, WPI inflation was broadly in line with expectations. According to an Informist poll, WPI inflation was seen at (-)0.5% in July. The May WPI inflation print was revised lower to 0.13% from the provisional estimate of 0.39%.
At (-)0.58%, WPI inflation was broadly in line with expectations. According to an Informist poll, WPI inflation was seen at (-)0.5% in July. The May WPI inflation print was revised lower to 0.13% from the provisional estimate of 0.39%.
India's headline CPI inflation fell to 1.55% in July, the lowest print since June 2017, mainly because of a statistical effect of a high base, data released by the statistics ministry Tuesday showed. This is only the third time in the current series when CPI inflation has been below 2%. The lowest CPI inflation print in the current series is 1.46% in June 2017.
At 1.55%, CPI inflation in July was higher than the consensus estimate. According to an Informist poll, headline inflation was seen at 1.3% in July. CPI inflation was 3.60% a year ago and 2.10% in June.
This is the ninth cons
At 1.55%, CPI inflation in July was higher than the consensus estimate. According to an Informist poll, headline inflation was seen at 1.3% in July. CPI inflation was 3.60% a year ago and 2.10% in June.
This is the ninth cons
The government's net direct tax collections during Apr. 1-Aug. 11 were down 4.0% on year at INR 6.639 trillion because of a slowdown in direct tax collections and a rise in refunds issued, data released Tuesday by the finance ministry showed. Net direct tax collections so far account for 26.3% of the Budget target of INR 25.20 trillion for the current financial year.
On a gross basis, the government collected INR 7.988 trillion, down 1.9% on year. The government has issued refunds worth INR 1.349 trillion this year as of Monday, 9.8% higher from a year ago.
Gross corporate tax colle
On a gross basis, the government collected INR 7.988 trillion, down 1.9% on year. The government has issued refunds worth INR 1.349 trillion this year as of Monday, 9.8% higher from a year ago.
Gross corporate tax colle
Informist Media : Over 600,000 cross-border transactions took place using the Unified Payments Interface in the current financial year till July, Minister of State for Finance Pankaj Chaudhary told Parliament Monday. The total value of these cross-border transactions was INR 1.69 billion, Chaudhary said in a written reply to the Lok Sabha.
In FY25, 755,445 cross-border UPI transactions took place involving INR 2.59 billion, data presented by Chaudhary showed. The government, Reserve Bank of India, and the National Payments Corp. of India have been working towards linking UPI with fast paym
In FY25, 755,445 cross-border UPI transactions took place involving INR 2.59 billion, data presented by Chaudhary showed. The government, Reserve Bank of India, and the National Payments Corp. of India have been working towards linking UPI with fast paym
Exporters, in consultations with the commerce ministry after the US announced a 50% tariff on Indian goods, communicated to the government that they don't want a trade deal with the US at the cost of India's national interests, a top official from the ministry said. Indian goods in the US are now subject to 25% duty, which is set to rise to 50% from Aug. 27.
Under the trade deal with India, the US wants access to India's politically and socially sensitive farm and dairy sector. India has always maintained a protective stance on its farm and dairy sector but the US wants to push genetical
Under the trade deal with India, the US wants access to India's politically and socially sensitive farm and dairy sector. India has always maintained a protective stance on its farm and dairy sector but the US wants to push genetical
Informist Media : The Securities and Exchanges Board of India Friday introduced a framework for foreign portfolio investors and foreign venture capital investors called single window automatic and generalised access for trusted foreign investors — SWAGAT-FI. This is to seek public comments on proposals to improve ease of investments by simplifying onboarding and ongoing compliances for a specific set of FPIs, SEBI said in a consultation paper.
This window will provide easier access for investment to objectively identified and verified low-risk foreign investors. It will also enable a unifi
This window will provide easier access for investment to objectively identified and verified low-risk foreign investors. It will also enable a unifi
Futures contracts of gold on the Multi Commodity Exchange of India surged to a fresh record high late Tuesday, recouping the day's losses, on growing bets of an interest rate cut by the US Federal Open Market Committee in September and a sharp fall in the rupee against the dollar. The sweeping tariffs imposed by the US and concern over the independence of the US Federal Reserve raised the safe-haven appeal of the precious metal, further supporting prices.
At 2113 IST, the most-active October gold contract on the MCX was 0.3% higher at INR 101,454 per 10 grams, after touching an all-time
At 2113 IST, the most-active October gold contract on the MCX was 0.3% higher at INR 101,454 per 10 grams, after touching an all-time
INFORMIST MEDIA : The cost of a home-cooked vegetarian thali fell 14% on year in July to INR 28.1 due to a sharp drop in the prices of vegetables--primarily tomato, onion and potato--Crisil Intelligence said in a report. The cost of a non-vegetarian thali fell 13% on year to INR 53.5, due to lower vegetable prices and an estimated 12% on-year drop in broiler prices, which make up about 50% of the cost of the thali, it said.
Tomato prices fell 36% to INR 42 per kg in July from INR 66 per kg a year ago. Tomato prices typically surge around July and August due to seasonality. They had even br
Tomato prices fell 36% to INR 42 per kg in July from INR 66 per kg a year ago. Tomato prices typically surge around July and August due to seasonality. They had even br
Informist Media : An internal working group of the Reserve Bank of India has recommended keeping the overnight weighted average call rate as the operating target for its liquidity operations. The central bank released the report of the working group to review the Liquidity Management Framework Wednesday and has invited suggestions by Aug. 29.
The report said the weighted average call rate has a direct influence on the short-term interest rates. Banks and standalone primary dealers, which are the participants in the call money market, have access to the RBI’s Liquidity Adjustment Facility a
The report said the weighted average call rate has a direct influence on the short-term interest rates. Banks and standalone primary dealers, which are the participants in the call money market, have access to the RBI’s Liquidity Adjustment Facility a
Informist Media : The government had tax arrears to the tune of a whopping INR 54.54 trillion till June, the finance ministry said Tuesday. Of the total, an amount of INR 47.52 trillion is under direct taxes and the rest under indirect taxes, Minister of State for Finance Pankaj Chaudhary said in a written response to the Rajya Sabha.
Chaudhary said of the pending direct tax arrears, an amount of INR 31.26 trillion is locked up in litigation till the end of March. In the case of the pending indirect tax arrears of INR 7.02 trillion, INR 3.71 trillion are stuck in various stages of litigati
Chaudhary said of the pending direct tax arrears, an amount of INR 31.26 trillion is locked up in litigation till the end of March. In the case of the pending indirect tax arrears of INR 7.02 trillion, INR 3.71 trillion are stuck in various stages of litigati
The Supreme Court on Tuesday cancelled the medical bail given by the Delhi High Court to Dewan Housing Finance Corp. Ltd.'s former promoter Dheeraj Wadhawan in a bank loan fraud case. Last year, the high court had allowed Wadhawan's bail application and said that he fell into the category of "sick" person.
The top court directed the jail authorities and the Central Bureau of Investigation to ensure that Wadhawan was given specialised medical treatment as directed by a medical committee set up earlier this year by the high court. Earlier, a committee of 11 doctors was set up by the high cou
The top court directed the jail authorities and the Central Bureau of Investigation to ensure that Wadhawan was given specialised medical treatment as directed by a medical committee set up earlier this year by the high court. Earlier, a committee of 11 doctors was set up by the high cou
The Reserve Bank of India's Monetary Policy Committee is expected to keep the benchmark repo rate and its stance unchanged at the meeting this week, but may revise its projection for inflation and growth downwards, Goldman Sachs said in a research note. Going forward, Goldman Sachs sees the central bank cutting the benchmark rate by 25 basis points in the Oct-Dec quarter, taking the repo rate to 5.25%.
The Monetary Policy Committee lowered the repo rate by a bigger-than-expected 50 bps in June as it saw a need to support economic growth in the face of global uncertainties. India's retail
The Monetary Policy Committee lowered the repo rate by a bigger-than-expected 50 bps in June as it saw a need to support economic growth in the face of global uncertainties. India's retail
Motilal Oswal Financial Services Ltd. has cut earnings per share estimates of Nifty 50 companies for 2025-26 (Apr-Mar) by 1.1% and for FY27 by nearly 0.8%, it said in a report on Monday. It now expects earnings per share of Nifty 50 companies for FY26 to be INR 1,110. The brokerage firm has increased its focus on midcaps in its model portfolio.
For FY26, Motilal Oswal has penciled in a 10% growth in earnings per share, compared to 1% in FY25. "(This is) aided by a likely improvement in the macro environment owing to the stimulative fiscal and monetary measures," it said. "Markets have st
For FY26, Motilal Oswal has penciled in a 10% growth in earnings per share, compared to 1% in FY25. "(This is) aided by a likely improvement in the macro environment owing to the stimulative fiscal and monetary measures," it said. "Markets have st
Informist Media : After a weak run last month, the rupee may take a breather and settle broadly unchanged from the current level at the end of August as the Reserve Bank of India is likely to keep the domestic currency from depreciating in the face of sustained foreign portfolio outflows and a strong dollar index.
According to the median of estimates of 13 respondents from banks and brokerages polled by Informist, the Indian unit may settle at 87.50 a dollar by the end of August, broadly unchanged from the end of July. The rupee closed at 87.54 a dollar Friday.
Strong foreign po
According to the median of estimates of 13 respondents from banks and brokerages polled by Informist, the Indian unit may settle at 87.50 a dollar by the end of August, broadly unchanged from the end of July. The rupee closed at 87.54 a dollar Friday.
Strong foreign po
Amidst the rising diatribe against India from US President Donald Trump, the Indian government Friday expressed optimism that relationships between the two countries will improve, given the fact that they have weathered many storms before. The relationship between the two nations will grow further under the proposed Bilateral Trade Agreement, External Affairs Spokesperson Randhir Jaiswal said at a media briefing.
"India and the US share a comprehensive global strategic partnership anchored in shared interests, democratic values and robust people-to-people ties," Jaiswal said. "This partn
"India and the US share a comprehensive global strategic partnership anchored in shared interests, democratic values and robust people-to-people ties," Jaiswal said. "This partn
India's manufacturing sector activity expanded at the highest pace in 16 months in July, with the HSBC India Manufacturing Purchasing Managers' Index rising to 59.1 last month from 58.4 in June, S&P Global said on Friday. "Manufacturing sector conditions in India continued to strengthen in July, with the HSBC PMI climbing to a 16-month high due to faster increases in new orders, output and stocks of purchases," the report said. "Firms bought extra inputs to broadly the same extent as in June, however, whilst job creation receded to the weakest since November 2024. Meanwhile, business confiden