NEW DELHI: In a major relief to public sector oil firms, the Cabinet on Friday approved a Rs 30,000 crore compensation package to offset their losses from selling domestic LPG below cost amid elevated international prices.The package will be paid to Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) in…
Representative image (AI-image) Medical product manufacturers face potential supply disruptions due to new steel ministry regulations, which require raw materials used in steel products to meet Indian standards.Industry leaders expressed concerns about their inability to comply with the latest rules that mandate BIS certification for imported raw materials like hot rolled steel and ingots. Previously,…
Retail sales of vehicles across categories in India declined 4.31 per cent year-on-year to 1.96 million units in July, reflecting weak consumer sentiment on a high base. While tractor sales posted strong double-digit growth, passenger vehicles and two-wheelers saw declines, and commercial vehicle sales remained largely flat. Robust rainfall and substantial crop sowing boosted tractor…
The Union government has formally withdrawn the Income-Tax Bill, 2025, which was introduced in the Lok Sabha on February 13 to replace the existing Income-Tax Act, 1961,.A fresh version of the Bill, incorporating most of the recommendations made by the Select Committee chaired by BJP MP Baijayant Panda, is scheduled to be tabled in the…
Indian exporters were in shock after Trump announced 50% tariffs (AI-generated image) US buyers frantically contacted Indian exporters throughout Wednesday night, delivering unsettling news. Orders faced suspension or cancellation following US President Donald Trump’s decision to increase tariffs on Indian goods to 50%.A Rs 600 crore garment export company’s CEO, who wished to remain anonymous…
Gold rate today: Market experts attribute the upward movement in precious metals to risk-averse investment strategies and global economic uncertainty. (AI image) Gold rate today: MCX gold October futures reached a historic peak of Rs 1,02,191/10 grams on Friday, influenced by uncertainties surrounding US trade tariffs and increased purchases by global central banks seeking safe-haven…
India’s electronics sector could face a major hit, with potential losses of $20-30 billion in future business opportunities due to US tariffs, which may expand to include semiconductors, according to industry experts and company executives. Despite Apple and Samsung likely receiving tariff exemptions, including 100% semiconductor tariffs, due to their planned US investments and existing…
The data collected by Starlink’s satellite internet operations in India, including network information and traffic details, will be stored within the country, as stated by Communications Minister of State Chandra Sekhar Pemmasani in Parliament on Thursday. He clarified in the Rajya Sabha that domestic user traffic will remain within national boundaries and won’t be copied…
Donald Trump (File photo) A sweeping executive order signed by US President Donald Trump on Thursday has paved the way for 401(k) accounts to include private equity, cryptocurrency, and other alternative assets as retirement saving option.A 401(k) is a tax-advantaged retirement savings plan where employees can defer part of their salary, often with employer contributions,…
India-US trade deal: India remains optimistic about finalising the Bilateral Trade Agreement this month. (AI image) With US President Donald Trump doubling the tariff rate to 50%, India is looking to review its market access offers to America in some sectors. India is conducting a fresh assessment of its market access proposals to the United…
