For FY24, the current account deficit narrowed to USD 23.2 billion or 0.7 per cent of GDP against USD 67 billion or 2 per cent of GDP in FY23, the RBI said in a release on the Developments in India's Balance of Payments.
Ahead of the budget, trade union leaders met Union Finance Minister Nirmala Sitharaman and made several key demands. The unions also asked the government to stop the privatisation drive of PSUs, scrap the new pension scheme. Bharatiya Mazdoor Sangh submitted a memorandum with its demand separately.
Bank Holidays in July 2024: All public and private banks in India will be closed for at least 12 days in July 2024.
The fund house, with assets exceeding Rs 93,000 crore, affirmed its commitment to regulatory compliance and promised to provide all necessary support to Sebi. It aims to maintain investor trust while continuing to deliver superior risk-adjusted returns.
Analysts expect the market to consolidate at higher levels, with budget-related sectors drawing attention. Global markets showed mixed performance, and oil prices continued to decline.
Currently, Canara Bank's official account (@canarabank) has 2.55 lakh followers. However, the bank has yet to take action in response.
GST council meeting: In another taxpayer-friendly measure, the GST Council has decided to introduce Form GSTR 1A to enable taxpayers to add information they have missed when filing Form GSTR 1.
Nirmala Sitharaman chaired the GST Council meeting on Saturday and made big announcements at a press conference. She listed out what will become cheaper.
According to information posted by IGL on its website, CNG price was hiked from Rs 74.09 to Rs 75.09 per kg, while in Noida, Greater Noida and Ghaziabad the rate went up from Rs 78.70 to Rs 79.70 per kg.
Union Finance Minister Nirmala Sitharaman has been holding pre-budget consultation meetings with various stakeholders, economists and experts since June 19. The upcoming budget is the first budget of Modi government after winning the third term.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Market closing update: Rallying for the sixth straight session, the BSE benchmark Sensex climbed 141.34 points or 0.18 per cent to settle at a new closing peak of 77,478.93. The Nifty rose 51 points or 0.22 per cent to settle at its fresh closing high of 23,567.
BoE Governor Andrew Bailey said in a statement alongside the decision that it was "good news" that the latest data had shown inflation was back at its 2% target, but that it was too soon to cut rates
According to the data released by Switzerland's central bank, Indian funds in Swiss banks were down 70 per cent to the lowest in four years at 1.04 billion.
Japan’s Nikkei declined by 0.70%, Korea’s Kospi gained 0.13%, and Australia’s ASX200 saw a marginal decrease of 0.03%. In Europe, the UK’s FTSE rose by 0.17%, driven by expected inflation figures, while Germany’s DAX fell by 0.35% and the UK’s FTSE increased by 0.60%.
At an event by CRISIL, Adani Group Chairman Gautam Adani said, "I can very confidently say that as we stand here today India’s infrastructure industry is undergoing a stunning change the impact of which we will be able to appreciate fully when we look back a decade later."
Small- and mid-cap stocks also hit all-time highs, rising 0.5% and 0.35%, respectively. Wall Street's strong performance, with the S&P 500 and Nasdaq Composite closing at record levels, further boosted market sentiment.
Analysts attribute the rally to robust corporate earnings, favourable global market trends, and investor optimism about the domestic economic outlook.
The Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) Yojana provides financial aid to landholding farmer families, offering Rs 2,000 every four months. Prime Minister Narendra Modi announced the release of the 17th installment, totaling Rs 20,000 crore, benefiting 9.3 crore farmers.
Eid-al-Adha 2024: Bakra Eid is a holy occasion also called the 'festival of sacrifice' and is celebrated on the 10th day of Dhu al-Hijjah, the 12th month of the Islamic or lunar calendar. It marks the end of the annual Hajj pilgrimage. The festival is an occasion of joy and peace.
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