NEWS ON AIR Website cell, IT Unit, NSD, All India Radio, New Broadcasting House, New Delhi, India ? 2006 All rights reserved. All India Radio AIR International News Sensex slips 306 points; Nifty ends at 11,346 BNE Benchmarks Domestic indices today plunged for the third session in a row. FDI inflow registered growth of 79% during last 6 years BNE Foreign Direct Investment (FDI) inflow has increased during the last six years from 36.05 billion US Dollars in 2013-14 to 64.38 billion US Dollars in 2018-19, registering a growth of 79 per cent. India's forex reserves fall by USD 1.113 bn to USD 428.797 bn BNE India's foreign exchange reserves declined by USD 1.113 billion to USD 428.797 billion in the week to July 12 - the first fall after four consecutive weeks of gains - due to a fall in foreign currency assets. Rupee up by 17 paise to close at Rs 68.80 against dollar BNE The rupee snapped its three-day losing streak to close 17 paise higher at 68 rupees and 80 paise against the US dollar as market participants pinned their hopes on an aggressive rate cut by the US Federal Reserve later this month. India permits 1,239 tonnes raw sugar export to US BNE The government has permitted the export of 1,239 tonnes raw sugar under its tariff-rate quota (TRQ) to the US, which enables shipments to enjoy relatively low tariff. Rupee depreciates by 11 paise to close at Rs.68.82 against dollar BNE The rupee today depreciated by 11 paise to close at 68 rupees and 82 paise against the US dollar due to foreign fund outflows and rising crude oil prices. Sensex surges 160 points; Nifty settels at 11,588 BNE Domestic equity benchmarks, Sensex and Nifty, today climbed driven by gains in IT stocks and positive macroeconomic data. The rupee also appreciated 15 paise against the US currency. Wholesale inflation declines in June BNE Wholesale price-based inflation declined for the second consecutive month to its 23-month low of 2.02 per cent in June, helped by a decline in prices of vegetables as well as fuel and power items. Inflation rises marginally to 3.18% in June BNE Retail inflation increased marginally to 3.18 per cent in June over the previous month, mainly due to the rise in food prices. Mining, manufacturing pull down IIP growth to 3.1 pc in May BNE Industrial output growth slipped to 3.1 per cent in May mainly on account of subdued performance of mining and manufacturing sectors. India, US restart bilateral trade talks BNE India and the US discussed the broad contours of bilateral trade and commercial ties and agreed to continue their discussions for achieving mutually beneficial outcomes aimed at further growing the economic relationship and addressing mutual trade concerns. Industrial production grows at 3.1 pc in May BNE Industrial production grew at 3.1 per cent in May, mainly on account of improvement in power generation, according to official data released today. Retail inflation increases marginally to 3.18 pc in June BNE Retail inflation increased marginally to 3.18 per cent in June this year over the previous month, mainly due to rise in food prices. Gold prices rule flat in Delhi bullion market BNE Gold prices today ruled flat at 34,870 rupees per 10 gram in Delhi bullion market. Silver also remained steady at 38,900 rupees per kg. Govt providing huge concession to fertilizer factories: D V Sadananda Gowda BNE Government is providing huge concession to the fertilizer factories for providing subsidized fertilizers to the farmers for agriculture purpose. Rupee declines by 18 paise to 68.84 against dollar BNE The rupee declined by 18 paise to 68.84 against the US dollar in early trade today, due to strong dollar demand from banks and importers amid persistent foreign fund outflows. Sensex tanks 793 points; Nifty settles at 11,559 BNE Benchmarks Domestic indices today plunged more than two per cent. The Sensex and Nifty, both, tumbled for the second session in a row amid heavy sell-off in global equities. Inclusive growth is main agenda of govt, says Niti Aayog member Ramesh Chand BNE Inclusive growth is the main agenda of the government and it can only happen with attention to rural areas, agriculture and the economically weaker section of the society. Industry bodies, economic experts hail Union Budget BNE The budget 2019-20 has been hailed by the Industry bodies, Economic experts, Union Ministers, Chief Ministers of various states and NRIs. French lawmakers approve 3% tax on online giants BNE In France, the lower house of parliament today approved a small, pioneering tax on internet giants like Google, Amazon and Facebook. Govt hikes Minimum Support Price of Kharif crops for 2019-20 season BNE In a major boost to the farmers’ income, the Cabinet Committee on Economic Affairs has approved the increase in the Minimum Support Prices, MSP for all Kharif crops for 2019-20 Season. HC asks RBI, ED to respond to plea alleging PayPal operating illegally BNE The Delhi High Court today asked Reserve Bank of India and Enforcement Directorate to respond to a plea alleging that online payment platform PayPal was operating illegally without the central bank's authorization. There was no impact of demonetisation on economy, country still continues to be fastest growing economy: Finance Minister BNE Finance Minister Nirmala Sitharaman today said that there was no impact of demonetisation on the Indian economy and the country still continues to be the fastest growing economy. Rupee ends almost flat at Rs 68.95 against USD BNE Rupee today ended almost flat at 68 rupees and 95 paise against the US dollar in a lacklustre trade as participants preferred to sit on the fence ahead of the Union Budget due on Friday. FIEO urges govt to announce measures to boost country's outbound shipments BNE Federation of Indian Export Organisations, FIEO today urged the government to announce various measures such as employment-linked income tax benefits and set up a fund for marketing purposes to boost the country's outbound shipments in the upcoming Budget. Eight core sectors record growth of 5.1% in May BNE The eight core sectors in the country have recorded a growth of 5.1 per cent in May on the back of healthy output in steel and electricity. GST collection stands at Rs 99,939 crore in June BNE The total gross Goods and Services Tax (GST) collection in the month of June stood at 99,939 crore rupees. The total number of GST returns filed for the month of May was 74.38 lakh. Last month the GST collection crossed one lakh crore rupees. Foreign investors pump over Rs 10,000 cr in June BNE Foreign investors infused over 10,000 crore rupees into the Indian capital markets in June and remained net buyers for the fifth month in a row on expectations of continued economic reforms. US companies can sell their equipment to Huawei: Donald Trump BNE US President Donald Trump has said American companies could sell equipment to Chinese telecom giant Huawei, indicating a potentially softer position on a key sticking point in the US-China trade war. Govt cuts interest rate on small savings schemes by 0.1 pc BNE The government has reduced interest rate on small savings schemes, including the National Savings Certificate and Public Provident Fund, by 0.1 per cent for the July-September quarter. Govt puts in place payment security mechanism for discoms to buy power BNE In a big relief to the stressed power sector, the government today approved the proposal for the implementation of a payment security mechanism for the purchase of electricity by distribution companies from generating firms. ASSOCHAM suggests FM to reduce corporate tax by 5% BNE ASSOCHAM has suggested the Finance Minister to reduce corporate tax by five per cent. Govt sets up working group to revise current series of WPI BNE The Government has constituted a Working Group for the revision of the current series of Wholesale Price Index. RBI advises all banks to accept coins of all denominations BNE Reserve Bank of India has advised all banks to immediately direct all their branches to accept coins of all denominations. Data related to payments to be stored only in India: RBI BNE The Reserve Bank today said all data related to payments must be stored in systems located only in India and data processed abroad will have to be brought back to the country within 24 hours. US-China trade war opportune time for India to attract multinationals: Pangariya BNE Eminent Economist Arvind Pangariya has said that escalating trade war between the US and China is an opportune time for India to attract the large multinationals looking for alternative locations outside China. RBI launches CMS for filing online complaints against banks, NBFCs BNE The Reserve Bank of India has launched an application on its website for lodging complaints against banks and NBFCs with a view to improve customer experience in timely redressal of grievances. Over 45 lakh people provided employment opportunities through Micro Enterprises BNE Ministry of Micro, Small and Medium Enterprises is striving to increase the number of micro and small industries in the country on a sustainable basis through the implementation of various schemes and programmes. Rupee settles 23 paise higher at Rs 69.35 to dollar BNE After opening on a weak note, the rupee today recovered the lost ground and finally settled 23 paise higher at 69 rupees and 35 paise to the US dollar amid weakening of the greenback against major currencies. Foreign investors pump in Rs 10312 crore in June so far BNE Overseas investors have infused more than 10,000 crore rupees in the domestic capital markets this month so far, with debt segment accounting for the lion's share. Sensex tanks 407 pts; Nifty ends at 11,724 BNE At the stock markets, the Sensex at the Bombay Stock Exchange slumped 407 points, or 1 per cent, to close at 39,194, today. Introduction of manual checks in IGST refunds aimed to prevent unscrupulous exporters from defrauding exchequer: CBIC BNE The Centre has assured all genuine exporters that they would continue to get their Integrated Goods and Service Tax (IGST) refunds in a timely manner in a fully automated environment. SEBI permits stock exchanges to introduce futures on commodity indices BNE Capital markets regulator SEBI today permitted stock exchanges with commodity derivative segment to introduce futures on indices. Oil prices fell for second day BNE Oil prices today fell for second day on signs that global economic growth is being hit by the U.S.-China trade war, though losses were capped by Middle East tensions after last week’s tanker attacks. India can boost exports of 350 products to US, China amid trade war: Study BNE A study by the Commerce Ministry has said, the ongoing trade war between the US and China offers an opportunity to India for boosting exports of as many 350 products such as chemicals and granite to these countries. FPIs remain net buyers in June, invest 11,132 crore rupees BNE Foreign investors remained net buyers in the domestic capital markets in June, pouring in a total of 11,132 crore rupees on a net basis this month so far. Exports up 3.93% in May; trade deficit widens to 15.36 bn dollars BNE India's exports grew by 3.93 per cent to around 30 billion dollars in May on account of healthy growth in sectors such as chemicals, pharmaceuticals and engineering. FDI flows to India grew 6% in 2018 to 42 billion: UN report BNE A UN report said, Foreign Direct Investment to India grew by 6 percent to 42 billion dollars in 2018, with strong inflows in the manufacturing, communication and financial services sectors, and cross-border merger and acquisition activities.