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Reported By: NMF Reporter On: 12 Jan 2018 04:14 PM
December Retail Inflation At 17-Month High Of 5.21%

New Delhi, Jan 12: Continuing rise in food and fuel prices pushed India's annual retail inflation rate over the five per cent-mark in December, official data showed on Friday, putting paid to hopes of an interest rate cut by the RBI in the near future.

According to the data furnished by the Ministry of Statistics and Programme Implementation, December's consumer price index (CPI) inflation rose to 5.21 per cent from 4.88 per cent in November.

On a year-on-year (YoY) basis, the CPI inflation last month was higher than the 3.41 per cent recorded in December 2016.

The Consumer food price index (CFPI) in December stood at 4.96 per cent compared to the 4.42 per cent of November 2017.

The annual CPI in rural areas in December ruled higher at 5.27 per cent, while in urban India it rose by 5.09 per cent.

Reported By: NMF Reporter On: 05 Jan 2018 01:05 PM
New Rs 10 currency note image released by RBI

Mumbai: The Reserve Bank of India, on Friday, released a new Rs 10 currency note image. The RBI said that it will shortly issue Rs 10 denomination banknotes in the Mahatma Gandhi (New) series. All these new notes will bear the signature of Dr Urjit R. Patel, Governor, Reserve Bank of India (RBI).

As per the image shared by the RBI, the new denomination has motif of Sun Temple, Konark on the reverse, depicting the country’s cultural heritage.


Reported By: NMF Reporter On: 02 Jan 2018 04:21 PM
Government rules out a single rate for all items under GST

New Delhi, Jan 2  The new indirect tax regime of GST does not envisage a single slab taxation rate structure as found in some developed economies, Parliament was informed on Tuesday.

Finance Minister Arun Jaitley said in the Rajya Sabha during Question Hour that countries which had applied a uniform tax rate on all commodities are nations where the entire population was above the poverty line.

"In India, food items have been placed in the zero or minimum slab, while luxury items get taxed more," he said.

The Finance Minister, however, said the process of rationalising the rates of items within the four-slab rate structure of the Goods and Services Tax (GST) would continue.

The new indirect tax regime unifying the Indian market has four tax slabs of 5, 12, 18 and 28 per cent.

Reported By: NMF Reporter On: 22 Dec 2017 12:31 PM
Sensex GAINS big in post noon deals

Mumbai, Dec 22: The Sensex was trading near all time high to 33,930.54, up 174.26 points, in post noon deals, on buying in sectors led by telecom, IT, teck, industrials, auto, consumer durables and realty, amid higher Asian cues. 

Sentiment got a boost following firm Asian markets reflecting steady growth in the US economy. 

The 30-share BSE index was higher at 33,930.54 at 1225 hours, up 174.26 points or 0.52 per cent. 

The 50-share NSE Nifty was trading higher at 10,483.80, gaining 43.50 points, or 0.42 per cent. 

Major gainers were Bharti Airtel 1.92 per cent, ONGC 1.57 per cent, SBI 1.37 per cent, Tata Motors 1.01 per cent, and Infosys 1.41 per cent.

Foreign portfolio investors (FPIs) sold shares net worth Rs 383.99 crore yesterday. But domestic institutional investors (DIIs) bought equities to the tune of Rs 1,574.30 crore. 

Most Asian stocks rose after positive close for US stocks overnight. Japanese cabinet cleared a record USD 860 billion spending budget for fiscal 2018, lifting the spirit of investors. 

US stock-market indices closed modestly higher yesterday driven by gains in energy, financials and telecom sectors.