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India proposes lowering GST on small cars, insurance premiums, source says

NEW DELHI, Aug 18 (Reuters) – India has proposed lowering the Goods and Services tax (GST) on small cars to 18% from the current 28% as part of sweeping consumption tax cuts, a government source said on Monday. The reduction, part of a programme of tax cuts announced by Prime Minister Narendra Modi on Friday, will boost sales of the country’s biggest carmaker Maruti Suzuki. The federal government has suggested lowering GST on small petrol and diesel cars to 18% from the current 28%, said the source who is directly involved in the matter. GST on health and life insurance

Gold climbs Rs 400 to Rs 1,01,420, silver rallies Rs 1,500

New Delhi, Aug 14 (PTI) Gold prices climbed Rs 400 to Rs 1,01,420 per 10 grams in the national capital on Thursday on fresh buying by stockists in line with firm global trends, according to the All India Sarafa Association. The yellow metal of 99.9 per cent purity had settled at Rs 1,01,020 per 10 grams in the previous session. Gold of 99.5 per cent purity increased by Rs 400 to Rs 1,01,000 per 10 grams (inclusive of all taxes) on Thursday. It had closed at Rs 1,00,600 per 10 grams on Wednesday. In the national capital, silver prices rose

Rupee falls 10 paise to close at 87.57 against US dollar

Mumbai, Aug 14 (PTI) Rupee pared initial gains and settled for the day on a negative note, lower by 10 paise at 87.57 (provisional) against the US dollar on Thursday, as it came under pressure due to continued dollar demand from importers. Forex traders said the rupee pared initial gains on positive crude oil prices, dollar demand from importers and foreign fund outflows. Moreover, there is an overall negative bias amid uncertainties over the trade tariff issue between India and the US. At the interbank foreign exchange, the domestic unit opened at 87.48 and moved in a range of 87.39

Stock markets end flat after volatile session as investors await outcome of US-Russia talks

Mumbai, Aug 14 (PTI) Benchmark stock indices Sensex and Nifty ended flat in a highly volatile trade on Thursday with investors taking a wait-and-see approach ahead of the US-Russia talks. Extending gains to the second day, the 30-share BSE Sensex climbed 57.75 points or 0.07 per cent to settle at 80,597.66. During the day, it rallied 211.27 points or 0.26 per cent to 80,751.18. The 50-share NSE Nifty rose by 11.95 points or 0.05 per cent to 24,631.30. Among Sensex firms, Eternal, Infosys, Asian Paints, HDFC Bank, Bajaj Finserv and Titan were the major gainers. However, Tata Steel, Tech Mahindra,

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