DDIndia Business: Economic Headlines & Updates

Business

January 2, 2024 9:06 AM

GST collections continue robust growth, rise 10% to Rs 1.64 lakh crore in December

On the first day of the new year, there was uplifting news on the economic front as the Goods and Services Tax (GST) revenue collection witnessed a significant annual increase of 10% in December. According to the Ministry of Finance, the GST revenue ...

January 1, 2024 2:54 PM

Commercial gas cylinders become cheaper

The price of commercial gas cylinders has been reduced on the first day of the New Year 2024. Giving major relief, public sector oil and marketing companies have reduced the price of a 19-kg commercial gas cylinder by Rs 1.50 to Rs 4.50. The new rate...

January 1, 2024 1:20 PM

NPCI unveils UPI for secondary market

The National Payments Corporation of India (NPCI) officially introduced 'UPI for Secondary Market' on Monday, enhancing the ease of equity trading in the country. The initiative, approved by the Securities and Exchange Board of India (SEBI) a...

December 27, 2023 5:24 PM

Sensex, Nifty hit all-time highs amid global rally

India's benchmark indices surged to new heights on Wednesday, propelled by a global rally fueled by renewed optimism that the U.S. central bank would initiate rate cuts as early as March next year. The Sensex jumped 701.63 points or 0.98%, settling ...

December 27, 2023 8:51 AM

RBI releases a draft- ‘Licensing Framework for Authorised Persons’ under FEMA

The Reserve Bank of India (RBI) has released a draft- 'Licensing Framework for Authorised Persons (APs)' under Foreign Exchange Management Act (FEMA), 1999. According to RBI release, the focus of the draft norms is on rationalising the authorisation...

December 27, 2023 8:43 AM

Revving Up for Success: India and Oman set to sign free trade agreement

The ongoing negotiations for the proposed free trade agreement (FTA) between India and Oman are progressing rapidly and the agreement is expected to be signed next month, according to a senior government official. This FTA is likely to benefit variou...

December 26, 2023 8:25 PM

TCIL presents Rs 14.20 cr. dividend to government for FY 2022-23

Telecommunications Consultants India Ltd (TCIL) has recently disbursed a dividend of Rs 14.20 crore to the government, marking another successful financial year. The Chairman & Managing Director, Sanjeev Kumar, handed over the dividend cheque to ...

December 22, 2023 3:19 PM

Commercial LPG cylinder prices slashed by Rs 39.50 in New Year relief

Oil Marketing Companies (OMCs) have slashed the prices of 19 kg LPG cylinders by Rs 39.50 across major metropolitan cities, bringing a potential sigh of relief for commercial users such as hotels and restaurants. The revised rates came into effect o...

December 22, 2023 12:28 PM

India extends import duty reduction for edible oils to March 2025

India will allow the import of edible oils at lower import tax rates until March 2025, according to a government order, as the world's biggest importer of vegetable oil moves to keep a lid on local prices. The lower import duty structure on crude pa...

December 21, 2023 3:09 PM

Defence ministry inks Rs.1614 crore deal with Mazagon Dockyard Shipbuilders for 6 offshore patrol vessels

In a significant stride towards fortifying the nation's maritime defense, the Ministry of Defence has inked a pivotal contract with Mazagon Dockyard Shipbuilders Ltd (MDL), Mumbai. The deal, finalised on December 20, 2023, marks the procurement of...