New Delhi: The government’s keenness to promote rooftop solar installations comes through in the interim budget. Addressing a press conference after the budget, union finance secretary T.V. Somanathan said: “There is a provision of ₹10,000 crore for rooftop solar in the budget.” The move is expected to boost the ambitious goal of 500 gigawatts (GW)…
Early retirement can indeed be a cherished goal for many individuals, despite the challenges that may accompany its pursuit. Early retirement necessitates accumulating enough savings to sustain oneself potentially for decades, demanding considerable financial discipline and sacrifices, particularly for those early in their careers. Also, medical expenses can significantly deplete retirement savings, especially in the…
Photo used for representation purpose only. | Photo Credit: Reuters The rupee depreciated 12 paise to 83.56 against the US dollar in early trade on July 2, weighed down by the strengthening of the American currency in the overseas markets and elevated crude oil prices. Forex traders said oil importers and foreign portfolio investors (FPIs)…
The government has hiked windfall tax on domestically produced crude oil to ₹6,000 per tonne, from ₹3,250 per tonne, with effect from Tuesday, July 2, 2024. Explained | What is windfall tax and why are countries imposing it on the energy sector right now? The tax is levied in the form of Special Additional Excise…
Gold and silver prices dropped last week on profit booking. While the former lost 3.4 per cent the latter was down 3.8 per cent as they closed at $2,334 and $30.3 per ounce, respectively. Similarly, on the Multi Commodity Exchange, gold futures dropped 3.3 per cent to end at ₹71,256 (per 10 gram), whereas silver…
Hindenburg Research has said that contrary to claims made by Indian regulatory authorities that it had a massive financial windfall from its short position in Adani’s securities, it had made only $4 million in gross revenue. “We have made $4.1 million in gross revenue through gains related to Adani shorts from that investor relationship. We…
India is on the cusp of change, having transformed to become the fifth largest economy in the world and is gradually moving towards being in the top three. Our economy is uniquely diverse and rapidly growing; this is powered by infrastructure, manufacturing, information technology and services sectors. A key strength is our sizeable domestic market,…
There has been a shift in spending trends among consumers. With the increase in cashless transactions, a study revealed that people are spending more than before. The study was conducted by a team from University of Melbourne and University of Adelaide, it analysed 71 papers and looked at spending habits of 17 countries published in…
Photo used for representation purpose only. | Photo Credit: Reuters Equity benchmark indices Sensex and Nifty hit their fresh lifetime high levels in early trade on July 2, amid a rally in global markets and buying in IT stocks. The 30-share BSE Sensex jumped 379.68 points to hit a record peak of 79,855.87 in early…
Union Finance Minister Nirmala Sitharaman chairs the 53rd GST Council meeting in New Delhi on June 22, 2024. | Photo Credit: PTI Meeting after almost nine months, the Goods and Services Tax (GST) Council on Saturday approved measures to ease compliance for small businesses, exempted hostel accommodation worth up to ₹20,000 a month as well…
