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Important Information for Gift City Bulletin
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CUSTOMS
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29
Mar
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Notification No. 17/2025
(Delhi)
S.O. … (E).– In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962
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29
Mar
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Notification No.18/2025
(Delhi)
S.O…….(E).- In exercise of the powers conferred by section 157 read with section 84 of the Customs Act, 1962
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29
Mar
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Notification No.20/2025
(Delhi)
G.S.R. (E). In exercise of the powers conferred by section 157, read with sections 30, 30A, 41, 41A, 53, 54, 56, sub-section (3) of section 98 and sub-section (2) of section 158 of the Customs Act, 19
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29
Mar
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Circular No. 10/2025
(Delhi)
Implementation of the Sea Cargo Manifest and Transhipment Regulations (SCMTR)-reg.
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INCOME TAX
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31
Mar
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Notification No. 23/2025
(Delhi)
G.S.R. 207(E).––In exercise of the powers conferred by section 44AB and section 295 of the Income-tax Act (43 of 1961)
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31
Mar
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Notification No. 24/2025
(Delhi)
S.O. 1510(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961
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29
Mar
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Notification No. 22/2025
(Delhi)
G.S.R. 195(E). In exercise of the powers conferred by section 295 read with section 194T of the Income-tax Act, 1961
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29
Mar
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Circular No. 05/2025
(Delhi)
Order under section 119 of the Income-tax Act, 1961 for waiver on levy of interest under section 201(IA)(ii)/ 206C(7) of the Act, as the case maybe, in specific cases -regarding.
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RBI
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2
Apr
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RBI/2025-26/01
(Delhi)
Master Circular on SHG-Bank Linkage Programme
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2
Apr
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RBI/2025-26/02
(Delhi)
Master Circular – Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM)
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2
Apr
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RBI/2025-26/03
(Delhi)
Master Circular - Credit facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs)
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2
Apr
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RBI/2025-26/05
(Delhi)
Master Circular - Disbursement of Government Pension by Agency Banks
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2
Apr
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RBI/2025-26/06
(Delhi)
Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission
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2
Apr
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RBI/2025-26/07
(Delhi)
Master Circular on Board of Directors - UCBs
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2
Apr
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RBI/2025-26/08
(Delhi)
Master Circular – Basel III Capital Regulations
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2
Apr
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RBI/2025-26/09
(Delhi)
Master Circular - Prudential Norms on Capital Adequacy - Primary (Urban) Cooperative Banks (UCBs)
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2
Apr
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RBI/2025-26/10
(Delhi)
Reserve Bank of India (Classification, Valuation and Operation of the Investment Portfolio of Commercial Banks) Directions, 2023
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2
Apr
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RBI/2025-26/11
(Delhi)
Master Circular - Guarantees, Co-acceptances & Letters of Credit - UCBs
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2
Apr
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RBI/2025-26/12
(Delhi)
Master Circular - Guarantees and Co-acceptances
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2
Apr
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RBI/2025-26/13
(Delhi)
Master Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances
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2
Apr
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RBI/2025-26/14
(Delhi)
Master Circular - Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs
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2
Apr
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RBI/2025-26/15
(Delhi)
Master Circular - Bank Finance to Non-Banking Financial Companies (NBFCs)
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2
Apr
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RBI/2025-26/17
(Delhi)
Master Circular - Housing Finance for UCBs
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2
Apr
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RBI/2025-26/18
(Delhi)
Master Circular - Management of Advances - UCBs
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2
Apr
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RBI/2025-26/19
(Delhi)
Master Circular- Exposure Norms and Statutory / Other Restrictions - UCBs
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LIVE MARKET
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EURO
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INDIAN ECONOMY
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India and Chile are set to begin talks on a Comprehensive Economic Partnership Agreement (CEPA) with a focus on critical minerals, Prime Minister Narendra Modi announced Tuesday during a press briefing with Chilean President Gabriel Boric Font in New Delhi.
Home to the world’s largest reserves of lithium a...
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A DAY BEFORE the US reciprocal tariffs kick in on April 2, India has agreed to the Terms of Reference for the Bilateral Trade Agreement with the US following an intervention from the Prime Minister’s Office (PMO).
The ToR outlines the framework of the BTA and typically requires clearance from the highest p...
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Goods and services tax (GST) collection rose nearly 10% to Rs 1.96 lakh crore in March from the year earlier, the second-highest monthly collection ever, riding a recovery in domestic demand and better compliance. Gross collection for the full fiscal year was Rs 22.1 lakh crore, 9.4% higher than Rs 20.2 lakh ...
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The commerce ministry is working on different scenarios to assess the possible fallout of reciprocal tariffs to be imposed by the US administration on April 2 on its key trading partners including India, sources said. US President Donald Trump has said that April 2 will be 'Liberation Day' as he plans to anno...
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The US has criticised India’s “onerous requirements” on dairy imports, surcharges on various agricultural imports, regulations for alcoholic beverage imports, and the Make in India programme that remains “challenging” for high-technology equipment makers and other American companies. The Trump administration ...
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The European Union is pressing for inclusion of a "forward most-favoured-nation (MFN)" provision in free trade agreement (FTA) talks with India, which would require the latter to make concessions similar to those offered to the US in a proposed bilateral trade pact.
The issue of MFN status figured during t...
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States and Union Territories plan to borrow up to Rs 2.73 trillion through state government securities in the first quarter of the current financial year, the Reserve Bank of India said in a release on Tuesday.
Bond market participants said that the borrowing amount was along expected lines.
“The borr...
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US tariffs on Chinese goods could create new opportunities for Indian exporters, particularly in electronics, textiles, and engineering goods, where Indian businesses may remain competitive even after reciprocal tariffs, according to a PwC report.
In the booming smartphone export sector, even if Indian sm...
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The Indian economy ended the fiscal year on a high note as digital transactions galloped to their highest-level nearing Rs 25 lakh crore in March and GST collections rose to an eleven-month high of Rs 1.96 lakh crore, according to high frequency data released on April 1.
The pace of GST collections also pi...
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Indian businesses are bracing for a turbulent start to the new financial year, as the threat of reciprocal tariffs from US President Donald Trump looms large. Exporters are already feeling the pinch, particularly those dealing in engineering goods, iron and steel, and aluminium products. These sectors are fac...
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Indian banking liquidity turned to surplus for the first time in more than three months as aggressive fund injections by the central bank helped erase one of the worst-ever cash crunches in the financial system.
The surplus, measured through banks deploying excess funds with the Reserve Bank of India, was ...
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China is willing to buy more Indian products to balance trade, Beijing’s Ambassador Xu Feihong said just ahead of a US tariff announcement expected to hit the south Asian neighbors.
“We are willing to work with the Indian side to strengthen practical cooperation in trade and other areas, and to import more...
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Amid fluctuations in forex reserves, Union Finance Minister Nirmala Sitharaman on Tuesday assured Rajya Sabha that India’s foreign exchange reserves are strong and sufficient to manage the country’s current account deficit.
"On the foreign exchange reserve and how our current account deficit is being mana...
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India's tariff policy aims to regulate trade, protect local industries, and generate revenue via taxes on imported and exported goods, Union minister Jitin Prasada told the Lok Sabha on Tuesday. His reply comes a day before US President Donald Trump's proposed reciprocal tariffs come into effect.
Prasada,...
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India must firmly assess each demand of the US through the lens of its own national priorities, development goals, and cultural values amid continuous pressure of America to amend trade policies, think tank GTRI said on Tuesday.
Commenting on the US Trade Representative's (USTR) National Trade Estimate (NT...
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India and Brazil, which are large and domestically driven emerging economies, are likely to withstand some of the tumult from shifting US policies, even as most of their peers are "exposed to choppy waters" that could potentially reshape global capital flows, supply chains, trade and geopolitics, Moody's Rati...
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India on Tuesday notified exports of specified quantities of commodities like eggs, potatoes, onions, rice, wheat flour, sugar, and dal for the Maldives in the current fiscal year.
The Directorate General of Foreign Trade (DGFT) in a notification said these exports have been permitted to the Maldives under...
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Finance Minister Nirmala Sitharaman on Tuesday said that the Centre had released Rs 1.46 trillion to states in special assistance for capital expenditure, which is over 95 per cent of the budget allocation till March 26.
While stressing that the government had not slowed down its capex push, Sitharaman, i...
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According to the Global Trade Research Initiative (GTRI), India must carefully assess every trade-related demand from the US, ensuring alignment with its national priorities, development objectives, and cultural values. As the US continues to pressure India to amend its trade policies, GTRI emphasises the imp...
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The Centre has released nearly Rs 1.5 lakh crore in interest-free 50-year capex loans to states for 2024-25, overachieving the revised estimate and meeting the initial budget estimate for the year, official sources told FE.
Of the Rs 1,49,484 crore capex loans released to the states, half of that was for r...
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MARKET & FINANCE
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Indians living abroad transferred a record $129.4 billion in 2024, with the December quarter alone accounting for $36 billion, according to the Reserve Bank of India's balance of payments data analysis.
For the third consecutive year, India received remittances exceeding $100 billion. India has maintained it...
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India’s venture capital (VC) funding is off to a strong start in 2025, with investment value surging nearly 40 per cent year-on-year (Y-o-Y) in January and February, significantly outpacing global trends, according to a GlobalData report.
Deal volume also rose 11 per cent over the same period, underscoring g...
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GLOBAL CORPORATE
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The European Union said it will use a broad range of options to retaliate against the US if President Donald Trump follows through on his threat to impose so-called reciprocal tariffs on the bloc this week.
"We do not necessarily want to retaliate," European Commission President Ursula von der Leyen said o...
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President Donald Trump’s trade war is threatening US dairy exports just as the industry needs new markets for its booming production.
America exported about $8.2 billion of dairy products last year, the second-highest on record, according to the US Department of Agriculture. Companies have built and expan...
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For more than three decades, the pharmaceutical sector has been protected from tariffs by a World Trade Organization agreement designed to improve access to life-saving drugs.
But as US President Donald Trump prepares to launch a new wave of levies aimed at reducing America’s trade deficits and bringin...
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The White House is gearing up to levy 20% tariffs on most imports as the US Liberation Day announced by President Donald Trump draws nearer. The POTUS insisted earlier this week that “all countries” would face reciprocal tariffs from Wednesday as he seeks to crack down on ‘unfair’ trade practices. The White H...
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On April 2, in a Rose Garden ceremony, US President Donald Trump will declare “Liberation Day.” But instead of freeing the economy, the tariffs he plans to unveil could slam the brakes on global growth, ignite inflation, and throw the world into an economic tailspin.
Driving the news
According to a Financia...
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OpenAI is closing a $40 billion funding round, known to be one of the largest private tech deals on record. The staggering growth of artificial intelligence (AI) has triggered an unprecedented surge in venture capital, with global AI investments projected to hit “$200 billion” this year. But as money floods i...
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Nike could soon face another blow in its effort to revive its brand and reverse a long decline in sales: U.S. tariffs on imports from Vietnam.
On Wednesday, U.S. President Donald Trump is expected to announce which countries and products he will target with a new round of tariffs aimed at encouraging domes...
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Business sentiment among large Japanese manufacturers has worsened for the first time in a year, partly because of worries about US President Donald Trump's tariffs, according to a survey by Japan's central bank released Tuesday.
The Bank of Japan's tankan quarterly survey said an index for large manufactu...
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The European Union said it will use a broad range of options to retaliate against the US if President Donald Trump follows through on his threat to impose so-called reciprocal tariffs on the bloc this week.
“We do not necessarily want to retaliate,” European Commission President Ursula von der Leyen said ...
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Tesla's sales in key European markets fell again in March, data showed on Tuesday, adding to signs that drivers are shunning Elon Musk's electric car brand as competition from China stiffens and some protest against his political views.
New Tesla sales in France and Sweden dropped for a third consecutive ...
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Banking
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The persisting stress in the microfinance sector continued to weigh on loan originations in the December quarter (Q3FY25), with a 35 per cent year–on–year (Y-O-Y) drop in value and 42 per cent in volume, according to CRIF data.
“The contraction likely arises from rising delinquencies, borrower over-levera...
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After moderating in 2024-25, banks’ credit growth is expected to slow further in 2025-26 as they take a cautious stance on unsecured loans. According to Reserve Bank of India (RBI) data, the credit growth eased to 11.13% in FY25, with outstanding bank credit reaching Rs 181.29 lakh crore as of March 7. This m...
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GLOBAL ECONOMY
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| Trade Report |
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Month |
Link |
| Switzerland |
July 2019 |
Click |
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South Korea's consumer prices rose 2.1% in March from a year earlier, after a rise of 2.0% in February, government data showed on Wednesday.
That was also slightly higher than a median 2.0% increase forecast in a Reuters poll o...
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Mexico's government sees its economy growing between 1.5% and 2.3% this year, down from a prior estimate of 2.0% to 3.0%, a draft budget from the country's finance ministry showed on Tuesday.
The growth forecast, which the fina...
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Argentina's foreign minister will meet U.S. Secretary of State Marco Rubio on Tuesday in a trip aimed at laying the initial groundwork for a trade deal between the two nations, even as President Donald Trump prepares to impose swe...
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U.S. investors poured a record $10.6 billion into exchange-traded funds focused on European stocks in the first quarter, seven times the inflows recorded a year earlier, according to data from BlackRock.
As U.S. President Donal...
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Canadian manufacturing activity contracted at a steeper rate in March as a widening global trade war triggered the sharpest decline in new orders since shortly after the start of the COVID-19 crisis.
The S&P Global Canada Manuf...
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U.S. manufacturing contracted in March after growing for two straight months, while a measure of inflation at the factory gate jumped to the highest level in nearly three years amid rising anxiety over tariffs on imported goods.
...
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U.S. construction spending increased more than expected in February as a decline in mortgage rates boosted single-family homebuilding, though rising economic uncertainty because of tariffs on imports could slow momentum.
The Co...
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The US economy is plodding toward a recession, a result of the Trump administration’s pursuit of three contractionary policies in tandem: Reducing the size of the federal government; instituting broad tariffs; and deporting worker...
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U.S. manufacturing contracted in March after growing for two straight months, while a measure of inflation at the factory gate jumped to the highest level in nearly three years amid rising anxiety over tariffs on imported goods.
...
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Inflation in the eurozone slowed further in March, calmed by an easing of energy tariffs and prices in the services sector, the EU's statistics agency said on Tuesday.
Inflation in the single currency area reached 2.2 percent, ...
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U.S. job openings fell in February as rising uncertainty over the economy due to tariffs on imports curbed demand for labor.
Job openings, a measure of labor demand, dropped 194,000 to 7.568 million by the last day of February,...
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US manufacturing contracted in March after growing for two straight months, while a measure of inflation at the factory gate jumped to the highest level in nearly three years amid rising anxiety over tariffs on imported goods.
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INDIAN CORPORATE
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State-owned NHPC on Tuesday said the company will begin investment in its 750-MW Kuppa Pumped Storage Project in the new fiscal. The survey and investigation works of Kuppa Pumped Storage Project (750 MW), Chhota Udaipur, Gujarat ...
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JSW Energy on Tuesday said its installed generation capacity has reached the level of 10.9 gigawatts (GW), surpassing the company's target of 10 GW for FY25.
During FY25, JSW Energy said it added 3.6 GW of generation capacity....
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Chinese electric vehicle (EV) maker BYD has refuted claims suggesting it intends to establish a manufacturing plant in India, according to a report by TechinAsia.com. The company dismissed the reports as “untrue” in an official st...
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Taiwanese electronics giant Foxconn has expanded its investment in India amid shifting global trade dynamics, acquiring machinery worth Rs 276 crore ($32.25 million) to enhance its production capacity. The move aims to boost iPhon...
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GST
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Gross goods and services tax (GST) collection grew 9.9% to Rs 1.96 lakh crore in March (February transactions), the second-highest mop-up ever, reflecting an uptick in goods shipments.
According to the government data, GST revenues from domestic transactions rose 8.8% to Rs 1.49 lakh crore, while revenue f...
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