Top headlines: ED arrests an ex-NSE MD; June trade gap grows to $26 bn


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Phone tapping case: ED nabs ex-NSE MD Chitra Ramkrishna, gets 4-day custody

The After receiving permission from a Delhi court, Chitra Ramkrishna, former NSE MD was arrested in a money laundering investigation involving alleged illegal phone taping and snooping on stock exchange employees.

Ramkrishna was interrogated by Sunaina Sharma as a Special Judge. She was allowed to remain in custody for four days. Continue reading…

Exports rose 23.5% to $40 billion in June Record $26.2 bn increase

India’s June merchandise exports grew by 23.52 percent to $40.13 billion. According to government data, the record reached $26.18 trillion on Thursday.

According to data, imports increased by 57.55% to $66.31 trillion in June compared with the same month last year. Continue reading…

Maharashtra government cuts VAT on petrol by Rs 5. Diesel by Rs 3.

Chief Minister Eknath Shind, a chief minister in Maharashtra, announced that the government of Maharashtra has decided to lower the value added tax (VAT), on petrol and diesel by Rs 5, and Rs 3, respectively.

The state exchequer would be burdened by Rs 6,000 crore if the decision was implemented on Thursday night. After a cabinet meeting at the secretariat “Mantralaya”, Shinde said that the decision will be in the best interests of the common man who has been affected by the rise in fuel prices. Continue reading…

June WPI-based inflation drops to 15.18%, from its four-decade-high in May

WPI (Wall Street Price Index-Based Inflation) in June fell from a high of four decades in May. However, it was still at 15.18%, due to international crude prices, food items, and other factors. This was the third consecutive month of factory-gate inflation exceeding 15%.

Inflation in May was 15.88%, which is a record for this series and the highest level since September 1991. Continue reading…

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