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Economy
Tax devolution: Centre releases third instalment of Rs 1.18L cr to states in June
The first two installments were released in April and May 2023. The transfer is part of the routine devolution from the Centre’s divisible pool of taxes.
Coal-based plants must run at full capacity till Sept 30: Govt
As the power demand peaks in the country owing to heat waves, the government on Monday directed coal-based plants to run at full capacity till September 30, 2023.
BPCL’s Bargarh bio-refinery will give impetus to waste-to-wealth creation: Pradhan
After producing ethanol from sugarcane, India is now pushing for producing low-carbon fuel from grains and agri waste.
Markets snap 4-day rally amid profit-taking; auto, bank stocks fall
During the day, it tumbled 353.23 points or 0.55 per cent to 62,789.73. The NSE Nifty declined 91.85 points or 0.49 per cent to end at 18,634.55.
Wheat prices rise after collapse of Kakhovka dam in Ukraine
The collapse has endangered massive agricultural and drinking water supplies in Ukraine, with warning of a looming environmental disaster.
Rupee rises 5 paise to close at 82.55 against US dollar
"One can expect directional trends only after the Federal Reserve's policy meeting scheduled next week," a research analyst at HDFC Securities said.
India’s services sector PMI expands at second best in 13 years, defies inflation pressures
The growth was supported by sustained growth of new business in the face of positive demand trends.
Growth in domestic demand will attract foreign investment: CII President
The CII President talks to TNIE about issues related to economy, manufacturing, private investment and consumption.
Analysts raise FY24 GDP growth forecast
Upward revisions come after NSO data showed economic growth at 7.2% in FY23 as against earlier estimate of 7%
Commercial LPG cylinder price reduced by Rs 83.5
Oil companies revise the price for both commercial and domestic LPG gas cylinders on the first day of each month.
GDP data beats forecasts, grows at 7.2% in FY23
Expands 6.1% in Q4; analysts say too early to celebrate as consumption yet to pick up.
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Market remains bullish; Nifty may try breaching 18,600 level
With no significant domestic events likely this week, the equity markets may take cue from global events – especially from the development in the US, where the debt ceiling crisis is still unfolding.
Certificates of Deposits yields ease as liquidity set to rise on Rs 2000 note withdrawal
The yields on CDs have declined by around 15-20 basis points as banks have already started exchanging and depositing Rs 2000 notes.
Private consumption to drive GDP growth in Q1
As per the report, the revival in rural demand is being seen due to record kharif (last year) and rabi harvests.
Pfizer suspends sale of 4 life-saving drugs, cites manufacturing issues
The Indian unit of US drug maker Pfizer Inc has suspended sale and use of its life-saving antibiotic in India following technical issues in their manufacturing process.
Tax experts ask small businesses to prepare well in advance for e-invoicing compliance
The e-invoice system is for GST-registered taxpayers who have to upload all B2B and export invoices to the Invoice Registration Portal (IRP).
As global rice supply dips, prospects for Indian basmati zoom
However, it raised the hope of Indian paddy growers to get better prices as the country is a significant player in the rice export market.
Utilising Coal Bed Methane can cut India’s energy import bill by USD 2 billion: Experts
India has an estimated Coal Bed Methane Reserve of 2600 billion cubic metres, they say.
As inflation cools off, RBI governor says ‘monetary policy on right track’
Shaktikanta Das said the RBI is optimistic and fairly confident over India's 6.5 per cent real GDP growth rate though other analysts have differing views.