Car sales in the local market rose 1.3% to 335,629 units last month. Automakers attributed the tepid pace of growth to tapering off of the post-pandemic pent-up demand that sustained for the last two financial years. A high base due to the strong growth in the last two years weighed on the year-on-year comparison, resulting […]
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Demand for leather goods, footwear, apparel up 10-20% since Dec; FY25 exports seen up at $500 bn. Improved demand in the European Union, West Asia and the US has boosted export order books by at least 10% from six months ago, signalling a possible recovery from last year. Overall, the order position has improved 15-20% […]
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Public sector banks’ cumulative profit crossed ₹1.4 lakh crore in the financial year ended March 2024, recording a growth of 35% over the previous year on a high base of ₹1 lakh crore. The 12 Public Sector Banks (PSBs) together had earned a net profit of₹1,04,649 crore in 2022-23. Out of the total profit of […]
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U.S. President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports, including electric vehicle (EV) batteries, computer chips and medical products, risking an election-year standoff with Beijing in a bid to woo voters, who give his economic policies low marks. Biden will keep tariffs put in place […]
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The Finance minister Nirmala Sitharaman said on Tuesday that Prime Minister Narendra Modi’s likely third term will be marked by “more governance and less government”, with a continued thrust on an investment-led and inclusive growth strategy, and welfarism that seeks to uplift the poor. It will also be marked by policies for “greater foreign direct investment […]
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To regulate the public offers of small and medium enterprises (SMEs), SEBI along with market exchanges has decided to switch on the screw. The move is in response to concerns over misuse of a dedicated listing platform started in 2012 that was meant to ease small businesses’ access capital markets. The regulator may consider raising […]
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India’s oil demand is expected to grow to 5.80 million barrels per day in 2025, up 4.1% from the 5.57 million barrels per day projected in 2024. The cartel highlighted that the growing demand will be supported by increased consumption of gasoline and other petroleum products on the back of growing economic activity. Healthy economic […]
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The share of the US in India’s total exports continuously declined from a high of 21.7 per cent in 1998-99 to a low of 10.1 per cent in 2010-11. Notwithstanding India’s efforts to diversify its merchandise exports, the country’s dependence on the US for its outbound shipments has increased over the past 13 years by […]
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Rerefer to the CBIC Circular No. 204/16/2023-GST dated October 27, 2023 on the issues pertaining to taxability of personal guarantee and corporate guarantee and whether it is applicable for such guarantees given before the date of the circular. The circulars only clarify or convey the understanding of the CBIC about the existing legal position. So, they […]
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The number of unique mutual fund investors is up from 37.9 million in April 2023 to 45.2 million in April 2024, an increase of 19.3 per cent. A poor experience early in their investment journey could turn many of these newcomers off equities for a long time, which is why they must enter the market […]
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