Onion prices jumped from Rs 1,200 per quintal on August 5 to Rs 1,900 on August 7. They stood at Rs 2,500 a quintal on August 9 in key markets, according to reports.
Pending passage, this new tax framework is slated to take effect on October 1, in accordance with the decisions reached at the recent GST council meeting.
Meat, fish, eggs, vegetables, pulses, and spices stand out as six essential food items that are consistently exerting upward pressure on the Consumer Price Index (CPI) or retail inflation
RBI policy announcements: The public tech platform is being developed based on the learnings of these pilot projects to expand the scope of end-to-end digital lending processes.
Governor Shaktikanta Das said that the Reserve Bank of India's Monetary Policy Committee (MPC) has increased its CPI inflation forecast for FY24 to 5.4 per cent from 5.1 per cent announced earlier
RBI MPC announcements: Governor Shaktikanta Das is expected to retain rates at 6.50 per cent, while maintaining the stance of withdrawal of accommodation.
The GST Council is keen on levying the tax from October 1 and the Centre and States are trying to complete the legislative process over the next two months. Once the amendments are passed, the rules will also be notified.
Credit card balances rose by $45 billion to $1.03 trillion in the second quarter, the regional Fed bank said in its latest quarterly household debt and credit report.
PHDCCI said that the GPS Index has shown a steady momentum despite global headwinds such as high inflation and the uncertainties arising out of the Russia-Ukraine war.
The resolution invoked Prime Minister Narendra Modi’s visit to the US on June 22. It said that the official state visit ensured a new level of trust and mutual understanding between the countries.
