Oil producers led by Saudis extended supply cuts amid slack prices
Frankfurt: Saudi Arabia and allied oil producing countries on Sunday extended output cuts through next year, a move aimed at supporting slack prices that haven’t risen even amid turmoil in the Middle East and the start of the summer travel season. The OPEC+ alliance, made up of members of the producers cartel and allied countries […]
ATF price cut 6.5%, commercial LPG by Rs 69
New Delhi: Jet fuel or ATF price on Saturday was reduced by a steep 6.5 per cent and that of commercial LPG used by hotels and restaurants by Rs 69 per 19-kg cylinder on declining international oil prices. Aviation turbine fuel (ATF) price was cut by Rs 6,673.87 per kilolitre, or 6.5 per cent, to […]
Windfall tax on crude petroleum cut to Rs 5,200/tonne
New Delhi: The government has reduced windfall tax on domestically-produced crude oil to Rs 5,200 per tonne from Rs 5,700 with effect from Saturday. The tax is levied in the form of Special Additional Excise Duty (SAED). SAED on the export of diesel, petrol and jet fuel or ATF, has been retained at ‘nil’. The […]
India’s GDP expands 7.8% in Q4, 8.2% in FY24
New Delhi: India’s economy growth slowed to a four-quarter low of 7.8 per cent in the January-March period, but pushed the annual growth rate for FY24 to 8.2 per cent, mainly on account of good showing by manufacturing, official data showed on Friday. The growth propelled the Indian economy to USD 3.5 trillion and set […]
Growth momentum to continue in Modi 3.0: FM Sitharaman
New Delhi: Finance Minister Nirmala Sitharaman on Friday termed 8.2 per cent GDP growth in 2023-24 as ‘remarkable’ and said the growth momentum will continue in the “third term of the Modi Government”. Today’s GDP data showcases robust economic growth with a growth rate of 8.2 per cent for FY 2023-24 and 7.8 per cent […]
Moody’s projects 6.8% GDP expansion in 2024 on strong growth, post-election policy continuity
New Delhi: Moody’s Ratings on Friday projected India to grow 6.8 per cent in the current year, followed by 6.5 per cent in 2025, on the back of strong, economic expansion, along with post-election policy continuity. India’s real GDP grew 7.7 per cent in 2023, up from 6.5 per cent in 2022, driven by robust […]
India to grow 7% in FY25, says RBI
Mumbai: Indian economy is projected to grow at 7 per cent — the fastest among major economies across the world — in the current fiscal year, underpinned by a sustained strengthening of macroeconomic fundamentals, the Reserve Bank of India (RBI) said in its latest annual report on Thursday. While the central bank expected headline inflation […]
Punjab: Over Rs 4-Cr cash, mobile phones seized during raids against illegal mining company
New Delhi: Cash amounting to Rs 4.06 crore and other “incriminating” evidence were seized during raids against an illegal-mine operator and his company in Punjab, the Enforcement Directorate (ED) said on Thursday. The searches were launched on Wednesday at 14 residential and business premises in Rupnagar (Ropar district), Hoshiarpur, Mandi Gobindgarh (Fatehgarh Sahib district) and […]
Director JKEDI e-inaugurates EDP under Tejaswini at Baramulla
Jammu: Director Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) on Wednesday e-inaugurated a 10-days Entrepreneurship Development Program (EDP) in Baramulla under the Tejaswini initiative of Mission Youth, J&K. Speaking at the inauguration, Director JKEDI, Sh. Rajinder Kumar Sharma (JKAS) emphasized the importance of empowering women through entrepreneurship and providing them with the necessary skills and […]
JKSTD initiates special drive against fake claims of ITC
JAMMU: Jammu and Kashmir State Taxes Department (JKSTD) today initiated a special drive against the practice of claiming fake Input Tax Credit (ITC) to plug the leakage in Government revenue. As per officials, the drive was carried at various business units across Jammu simultaneously by jurisdictional officers under supervision of Additional Commissioner (Administration and Enforcement) […]
