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India emerges as world's 6th largest economy, surpasses France: WB data

India emerges as world’s 6th largest economy, surpasses France: WB data

NEW DELHI: India emerged as the world’s sixth largest economy in 2017 surpassing France and likely to go past the United Kingdom, which is at the fifth position, according to an analysis of data compiled by the World Bank. In 2017, India became the sixth largest economy with a Gross Domestic Product (GDP) of US$

Rupee up 10 paise to 68.42 against US dollar

Rupee up 10 paise to 68.42 against US dollar

Mumbai – The rupee pared its initial gains, while trading 15 paise higher at 68.42 against the American currency in late morning deals on continued bouts of dollar selling from banks and exporters. The rupee resumed sharply higher at 68.32 from yesterday’s closing level of 68.57 at the inter-bank foreign exchange here. The Indian unit

Petroleum products to be brought under GST in stages, says Adhia

Petroleum products to be brought under GST in stages, says Adhia

NEW DELHI: Finance Secretary Hasmukh Adhia on Friday said the all powerful GST Council will consider bringing petroleum products under Goods and Services Tax (GST) and it could happen in phases. Speaking on the issue, Central Board of Indirect Taxes and Customs Chairman S Ramesh said although there is demand for bringing petroleum products under

India's external debt rises over $529 bn

India’s external debt rises over $529 bn

Mumbai (IANS) – India’s total external debt for the quarter ended March 2018 rose on a year-on-year basis by over 12 per cent to $529.7 billion, official data showed on Friday. According to the RBI, external debt rose to $529.7 billion from $471.3 billion reported for the corresponding period of 2017, on the back of

Indians' money stashed in Swiss banks rise 50 pc to Rs.7,000 crore

Indians’ money stashed in Swiss banks rise 50 pc to Rs.7,000 crore

ZURICH/NEW DELHI: Money parked by Indians in Swiss banks rose over 50 per cent to CHF 1.01 billion or Rs 7,000 crore in 2017, reversing a three-year downward trend amid India’s clampdown on suspected black money stashed there. In comparison, the total funds held by all foreign clients of Swiss banks rose about 3 per

Rupee touches all time low, crosses 69 per dollar mark

Rupee touches all time low, crosses 69 per dollar mark

Mumbai(IANS) – The Indian rupee touched an all-time low and breached the 69 per dollar mark on Thursday due to high crude oil prices and weak macro-economic fundamentals.At 2.44 p.m., rupee was at 68.92 against the previous closing level of 68.61 per greenback. The rupee’s last record low was 68.87 per dollar, hit on November

GST evasion of Rs. 2000rc unearthed in 2 months

GST evasion of Rs. 2000rc unearthed in 2 months

NEW DELHI: The GST investigation wing has detected tax evasion of over Rs 2,000 crore in two months, and data analysis reveals that only 1 per cent of over 1.11 crore registered businesses pay 80 per cent of the taxes, a senior official said on Wednesday. CBIC member John Joseph said alike small businesses who

Turmeric, jeera rise on fall in supply

Turmeric, jeera rise on fall in supply

New Delhi (PTI) –  Turmeric and jeera prices rose up to Rs 400 per quintal at the wholesale kirana market in the national capital today on the back of increased demand from retailers and stockists amid fall in supplies from growing regions.Firming trend in futures market and fresh overseas enquiries also supported the uptrend.Turmeric prices

Gold rises on jewellers' buying, silver falls

Gold rises on jewellers’ buying, silver falls

New Delhi (PTI) – Gold gained Rs 50 to close at Rs 31,650 per ten gram at the bullion market today on persistent buying by local jewellers despite a weak trend overseas. Silver however fell by Rs 100 to Rs 40,900 per kg on reduced offtake by industrial units and coin makers. Traders said continued

Monsoon, crude prices, geopolitics to drive market

Monsoon, crude prices, geopolitics to drive market

NEW DELHI: The Indian equity market may witness volatility this week, tracking global cues in view of the ongoing trade spat between the US and China, crude oil prices, and progress of monsoon, say experts. “Progress of monsoon is critical for market movement. Any easing of trade tensions between the US and China would be