Sovereign Gold Bonds (SGB), one of the popular gold investment tool, were debt securities issued by the Reserve Bank of India (RBI) on behalf of the government, with each unit representing a gram of gold. These bonds can be traded in the secondary market, allowing investors to potentially gain capital. Additionally, the government utilises SGBs … Read more
Silver exchange-traded funds (ETFs) have demonstrated significant growth, surpassing gold ETFs in the past year. According to the latest report by ICRA Analytics, silver ETFs have generated returns of 32.49% over the previous year, outperforming gold ETFs which only yielded 28.07%. Historically overshadowed by gold, silver has outperformed the yellow metal with a 30% return … Read more
Sovereign Gold Bonds (SGBs): The Reserve Bank of India has announced the dates for premature redemption of Sovereign Gold Bonds issued between May 2017 and May 2020. The central bank is planning to redeem 30 SGBs from October 11 and February 7, 2025. The redemption price will be announced by the Reserve Bank of India … Read more
Aimed at the trinity of fiscal prudence, investment, and growth momentum, the Union Budget saw the introduction of employment incentives and a simplified income tax regime, which should boost consumption. Investors were, however, caught off guard due to the increase in LTCG and STCG tax rates, leading to a knee-jerk reaction on D-Street. “While the … Read more
The government will identify close to 100 districts across the country to turn them into export hubs by adopting a “bottom-up approach”, Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said on Friday. “Our idea is to involve more youngsters at the district level (like collectors) so that they see the initiative to boost … Read more
The Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE came into effect on Sunday, allowing most of the country’s exports a duty-free access to the Emirates. The CEPA, which was signed in February, is expected to increase the total value of bilateral trade in goods to over $100 billion and trade in services … Read more
India has cut its tax on crude palm oil (CPO) imports to 5% from 7.5%, the government said in a notification, as the world’s biggest edible oil importer tries to rein in local prices of the commodity and help domestic refiners and consumers. The reduction in the tax, known as the Agriculture Infrastructure and Development … Read more
Ahead of the Union Budget, industry body FICCI has requested the government to reduce the basic customs duty (BCD) on ferronickel to zero and levy a higher duty of 12.5 per cent on the import of stainless steel flat products. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for FY2022-23 on February … Read more
The government cut import duty on crude and refined palm oil, soybean oil and sunflower oil to provide a respite to consumers amid rising food prices ahead of the consumption-driven festive season. In a notification issued late on Friday, the Central Board of Indirect Taxes and Customs (CBIC) notified the changes in customs duty rates, … Read more
After Covid-19 broke out last year, India has seen a steady rise in fungal infections also. With the third wave of Covid around the corner, the Union government on Tuesday exempted basic customs duty on imports of specified API (active pharma ingredient)/excipients for Amphotericin B till August 31 and raw materials for manufacturing Covid test … Read more