Haris

NISM-certified RA. Business Journalist @CNNnews18 (digital). Formerly with @pti_News @indianexpress and @bsindia. Personal; RTs not endorsement.

[PMO India @PMOIndia]

India's Economy Grows 7.7% in FY26, 7.8% in Q4; Beats Estimates Despite Global Turmoil
https://t.co/MqWfBNCkKs

via NaMo App

[Haris @mdherris]

LPG Price Hike: OMCs raise domestic LPG price by Rs 29 per cylinder, effective June 7. This is the second hike in the last 3 months. Now, the price of a 14.2-kg domestic LPG cylinder in Delhi has increased to Rs 942 from Rs 913.

https://t.co/HBfPMVPGbZ

[Haris @mdherris]

Earlier:
• Basic Customs Duty (BCD): 5%
• AIDC cess: 1%
👉 Total import duty on gold = 6%.

Now (from May 13):
• BCD increased to 10%
• AIDC hiked from 1% to 5%
👉 Total import duty on gold rises to 15%.

This reverses the major duty cut announced in Budget 2024.

[Haris @mdherris]

The govt has also raised duty on several other precious metals and even on concessional gold imports from UAE under quota arrangements.
The move is aimed at curbing imports and reducing pressure on India’s forex reserves amid rising global uncertainty.
#Gold #GoldPrices

[Haris @mdherris]

Govt hasn’t just doubled customs duty on gold from 5% to 10% — it has also increased AIDC (Agriculture Infrastructure & Development Cess).

So what is AIDC? 👇

[Haris @mdherris]

In July 2024, the govt had reduced total gold import duty from 15% to 6% by:
• Cutting BCD from 10% to 5%
• Lowering AIDC from 5% to 1%
Now both have been increased again.

[Haris @mdherris]

The move is expected to increase import costs for jewellers and bullion traders, and may eventually push up jewellery prices for consumers.

The decision comes amid govt concerns over rising imports and forex outflows as global tensions remain elevated.

[Haris @mdherris]

Gold, silver & jewellery imports to get costlier from May 13

#breaking

[Haris @mdherris]

Jewellery “findings” — small parts like hooks, clasps, pins & screw backs used in ornaments — are also covered.

New rates:
• Gold findings: 5%
• Silver findings: 5%
• Platinum findings: 5.4%

[Ministry of Petroleum and Natural Gas #MoPNG @PetroleumMin]

FAKE NEWS

There are some news reports suggesting a price hike of petrol and diesel. It is hereby clarified that there is no such proposal under consideration by the Government.
Such news items are designed to create fear and panic amongst the citizens and are mischievous and misleading.

In fact, India is the only country where petrol and diesel prices haven’t increased in the last 4 years. Govt of India and Oil PSUs have taken relentless steps in order to insulate the Indian citizens from steep increases in international prices.

[The Spectator Index @spectatorindex]

BREAKING: Gold falls to under $4500, set for its biggest weekly fall since 1983.

[Haris @mdherris]

Infosys ADR is down nearly 9%, Wipro ADR declines nealy 5%.

IT sector to bleed again tomorrow?

[PMO India @PMOIndia]

'GST Reforms To Benefit Every Section Of Society': PM @narendramodi Pens Letter To Nation, Pitches 'Swadeshi'
https://t.co/7hwsoxQXuj

via NaMo App

[Haris @mdherris]

#JUSTIN

TRUMP: August 1 deadline for all deals, except steel & aluminium.

#StockMarketUpdate #APLApollo #SAIL #Sambhv

[Haris @mdherris]

Is YouTube down?

[News18 @CNNnews18]

Nifty Prediction For Monday, April 7: The NSE benchmark index has major support at 22,800, breaching which will open the possibility of hitting the previous low of nearly 21,900, according to analysts.

#Nifty #sharemarket #StockMarket #BusinessNews

https://t.co/5pHihzmXi7