A sharp increase in taxes on cigarettes, along with a new excise duty structure on tobacco products, could trigger a surge in illicit trade and lead to significant revenue losses for the government, experts have warned.Earlier this week, the finance ministry notified amendments to the Central Excise Act, introducing a fresh excise duty ranging from…
Indian equity markets are likely to take cues from a busy calendar of macroeconomic data, global developments and foreign investor activity in the week ahead, according to market analysts Markets are entering a data-heavy phase both in India and overseas, coinciding with the early part of the earnings season. Ajit Mishra, SVP, Research at Religare…
Last week, Indian equity markets ended on a firm note, pushing up the combined market value of seven of the country’s ten most-valued companies by Rs 1,23,724.19 crore. The rally was led by Reliance Industries, which emerged as the biggest wealth creator during the period. The positive sentiment was reflected in the benchmark indices as…
India is unlikely to be affected by the ongoing crisis in Venezuela, in terms of material economy or energy, Global Trade Research Initiative (GTRI) assured in a note. Though it was once a major buyer of Venezuelan crude, the think tank highlighted that New Delhi has been reducing shipments from the South American nation in…
Larsen and Toubro’s Chief Financial Officer R Shankar Raman is anticipating a ten per cent increase in capital expenditure outgo in the upcoming budget for FY27.Amid concerns about sagging private capital expenditure growth, Raman said that he does not fear a “crowding out” of resources because of the high spending by the state. The ample…
As Venezuela is going through a period of intense political uncertainty, billionaire Elon Musk has publicly voiced support for the country’s citizens, with SpaceX-owned Starlink rolling out free internet access.The tech mogul on Sunday posted, “In support of the people of Venezuela,” while reposting to Starlink’s announcement that it would temporarily offer free broadband services…
Railway minister Ashwini Vaishnaw on Saturday offered a first glimpse of the upcoming Vande Bharat sleeper train, describing it as a new-generation service designed to significantly improve comfort on overnight journeys. The minister, while reviewing the new train, said that focus was towards upgrading amenities to make long-distance rail travel smoother and more passenger-friendly. India…
Caribbean air travel erupted into chaos over the weekend after US military captured Venezuelan President Nicolas Maduro and his wife, prompting sweeping airspace restrictions across the region.According to FlightRadar24, no commercial aircraft were flying over Venezuelan airspace on Saturday. The US Federal Aviation Administration also imposed restrictions that forced major airlines to cancel hundreds of…
Cigarettes are set to cost more from next month! The jump in cigarette prices comes after government’s decision to impose an additional excise duty under a revised tax structure, pushing up the tax burden across all categories. The finance ministry notified amendments to the Central Excise Act, introducing an additional excise duty ranging from Rs…
The US commerce department is preparing to ease the steep tariffs planned on Italian pasta imports, reducing the duties proposed earlier this year. Italian pasta had been facing one of the highest tariff burdens among European food products entering the United States. While most European Union goods are already subject to duties of at least…
