NEW DELHI: Centre’s fiscal deficit hovered around 18% of the full year’s estimate at the end of the first quarter, despite elevated capex and a slower growth in tax revenue due to the impact of GST rationalisation.During April-June, the Centre’s tax revenue was 3.7% higher at just over Rs 9 lakh crore, compared with a…
Foreign currency inflows under the Reserve Bank of India‘s (RBI) special swap facility almost doubled in just two weeks, rising to $40.816 billion by July 31 from $20.718 billion as of July 17. According to the latest RBI data, Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits remained the biggest contributor, accounting for the bulk of funds…
Supply disruptions in the Middle East have prompted Indian Oil Corporation (IOC) to overhaul its crude sourcing strategy, with the state-run refiner sharply increasing purchases from the spot market. The share of spot buying has risen from 50% to nearly 84%, IOC director (finance) Anuj Jain said on Saturday.The move comes after supplies through the…
Malta-flagged Aframax tanker Captain John loaded crude at Enbridge’s Ingleside terminal near Corpus Christi, Texas and is bound for Israel’s southern port of Ashkelon A cargo of US West Texas Intermediate (WTI) crude oil is headed to Israel for the first time in nearly three years, according to ship-tracking data.The Malta-flagged Aframax tanker Captain John…
MUMBAI: Domestic funds now own a record 21% of India Inc’s biggest companies, while foreign funds, that have been selling stocks of Indian companies for nearly two years now, hold 17%, down from 21.5% a decade ago. It took domestic funds to net infuse funds worth about $166 billion in Indian stocks to offset $58…
GST collections rise to over Rs 2.11 lakh crore, driven by imports and domestic demand NEW DELHI: India’s gross Goods and Services Tax (GST) collections rose 15.4 per cent year-on-year to over Rs 2.11 lakh crore in July, driven by higher revenues from both domestic transactions and imports, according to government data released on Friday.Gross…
BENGALURU: Cybercriminals are exploiting the income-tax return (ITR) filing season by sending fake income tax department notices over WhatsApp and other messaging platforms, using forged govt documents, cloned tax portals and malware to steal banking credentials and gain remote access to victims’ devices, according to a report by Bengaluru-based cybersecurity firm CloudSek.The campaign comes at…
Andhra Pradesh is set to get an aviation boost on Saturday as Prime Minister Narendra Modi will be inaugurating the Alluri Sitarama Raju International Airport at Bhogapuram in Vizianagaram district. The inauguration comes as PM Modi is headed for a two state visit to Andhra Pradesh and Karnataka. During the visit, he will also lay…
President Donald Trump holds up a red card during a meeting with FIFA president Gianni Infantino FIFA has abandoned its controversial plan to sell a minority stake in its commercial operations, including the FIFA World Cup, following strong opposition from football federations and internal criticism.FIFA President Gianni Infantino announced on Friday that the proposal would…
The latest addition to the United State’s to-do list is Japanese currency, yen.Signs that Washington was preparing to back Japan’s currency came to light on Friday after a photograph from US President Donald Trump’s cabinet meeting at Camp David showed US treasury secretary Scott Bessent weighing purchases of between $5 billion and $10 billion worth…
