Currently, funds transferred overseas under the Reserve Bank’s LRS attract 5 per cent Tax Collection at Source (TCS) on amounts exceeding Rs 7 lakh.
India’s diesel exports to Europe in September were at around 333,000 barrels per day (bpd), up nearly 47 per cent from August export volumes, and 57 per cent higher on a year-on-year basis, according to Vortexa data.
This comes at a time when AI has become among the most important talking points for technologists and policymakers around the world.
States’ total outstanding liabilities are budgeted to fall to 27.6 per cent of GDP for 2023-24 from the peak of 31 per cent in 2020-21. However, outstanding liabilities may remain higher than 30 per cent of gross state domestic product (GSDP) for many states.
India’s benchmark 10-year bonds rose to 7.25 per cent from the previous level of 7.20 per cent on August 14 and T-Bill yields rose by up to 13 basis points Thursday. Ten-year bond yields have gone up by 17 basis points in the last one month.
Investors poured in a record Rs 15,813 crore in August through systematic investments plans (SIPs) route offered by mutual fund players, an industry body said on Monday.
The firm also expects the growth of Akasa Air and the potential revival of SpiceJet to add to the competitive dynamics in the domestic market.
The volume of card transactions also rose to 3,200 lakh in October from 2,970 lakh in September but declined to 2,739 lakh in November. The number of credit cards also jumped to 960 lakh as of November 2023 as against 806 lakh a year ago, according to RBI data.
HDFC Bank Q1 results: This is the first earnings announcement by HDFC Bank after its merger with parent Housing Development Finance Corporation.
IDFC FIRST Bank’s Economist Gaura Sengupta said the deflator, with a higher weight of WPI, was favourable for manufacturing than the services sector, which has a higher weight of Consumer Price Index (CPI) inflation.