Government keeping eye on volatile rupee, says Finance ministry official

India’s current account deficit hit a record high of $23.5 billion in May on account of higher commodity prices.

published on : 5th July 2022

Trade deficit hits fresh high in June on coal, gold, oil imports

The trade deficit majorly burgeoned on account of high coal imports, which witnessed a growth of 242%, followed by gold and petroleum at 169% and 94.2%, respectively.

published on : 5th July 2022

Windfall tax on crude oil: Govt rakes in Rs 1.3 lakh crore; here's what brokerages say

JP Morgan said while the duties on steel/iron ore helped reduce domestic prices and curb inflation, a higher tax on gold should decrease imports and help the external balance marginally.

published on : 4th July 2022

Import duty increase to dent gold demand

The reason for the hike in duty was to rein in the current account deficit , thereby reducing pressure on the rupee, which breached the 79 to the dollar mark on Thursday.

published on : 2nd July 2022

Government hikes gold import duty to 15 per cent

Earlier, the basic customs duty on gold was 7.5 per cent, now it will be 12.5 per cent.

published on : 1st July 2022

BMC enforcement drive ahead of nation-wide ban on single-use plastic

The Civic body has also not been able to prevent use of single-use plastic, that constitutes nearly 70 per cent of trash in the city.

published on : 30th June 2022

Delhi police arrest three with tobacco products worth Rs 30 lakh

The contraband approximately worth Rs 30 lakh contains 16,190 packets of illegally smuggled imported cigarettes and 580 packets of cigars. 

published on : 28th June 2022

Adani among 11 bidders in race for Coal India's Rs 3,100 crore import tender 

The state-run company recently floated three e-tenders to source coal from overseas on behalf of state gencos and independent power plants (IPPs) for blending with the domestic coal.

published on : 22nd June 2022

Imports from China increased by 45.51 per cent in FY22 to Rs 7.02 trillion: Commerce Ministry data

India’s exports to China grew by 0.61% in FY22, which increased in FY21 by 33.59%. The major items of exports included iron and steel, ores, slag and ash and organic chemicals. 

published on : 22nd June 2022

Gold imports surge in May on revenge buying

However, trade sources and economists expect demand to rationalise amid high inflation. By quantity also, imports in May are estimated at 100-plus tonnes as against 28.5 tonnes in April.

published on : 16th June 2022

EU to import oil from Israel via Egypt amid Ukraine-Russia war

In the year 2021, the European Union imported roughly 40% of its gas from Russia, making it difficult for the EU to impose sanctions on Russia over its ongoing conflict with Ukraine.

published on : 15th June 2022

'Cut tea drinking by 1-2 cups': Pakistan minister's request in bid to reduce import bill

Pakistan's Federal Minister for Planning made the appeal after the federal budget document for the last fiscal year showed a Rs 13 billion increase in tea imports from the year before that.

published on : 15th June 2022

India's palm oil imports dip 33 per cent in May: SEA

The import of RBD palmolein rose sharply to 1 lakh tonnes from 2,075 tonnes, while that of crude palm kernel oil (CPKO) declined to 4,265 tonnes from 11,894 tonnes in the said period.

published on : 14th June 2022

Coal import may fall 11.4 per cent to 186 mt this fiscal: Government

Even as Coal India (CIL) has issued a tender to import coal from overseas,  the country’s coal import is likely to decline by 11.4 per cent to 186 million tonnes (MT) this fiscal.

published on : 14th June 2022

Amid Ukraine war, Russia overtakes Saudi Arabia to become India's second biggest oil supplier

Russian-origin crude hit 5 per cent of India's total seaborne imports in April for the first time, rising from under 1 per cent throughout 2021 and Q1 2022, the data showed.

published on : 13th June 2022
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