Economy news

• Centre tweaks windfall tax, raises petrol export duty

  30-06-2026 18:45 via timesofindia.indiatimes.com
  
  At the same time, the export duty on diesel has been cut to Rs 8.5 per litre from Rs 14 per litre, while the levy on ATF exports has been reduced to Rs 7.5 per litre from the current Rs 12.5 per litre. The ministry said the revised duties will remain effective for the fortnight beginning July 1.
  
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• Gold gains strategic importance as central banks hedge against geopolitical risks

  30-06-2026 17:21 via timesofindia.indiatimes.com
  
  Global central banks are boosting gold reserves amidst rising geopolitical risks, with a significant portion planning to reduce US dollar exposure. A new survey reveals a strategic shift towards gold for protection, while the euro and renminbi are eyed as alternatives, though not without their own challenges. Central banks are also increasingly embracing AI for operational improvements, adapting to a world of persistent uncertainty.
  
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• US stocks today: Wall Street edges higher on quarter-end optimism as Nvidia rebounds

  30-06-2026 16:55 via timesofindia.indiatimes.com
  
  US markets saw a mixed trading session as investors weighed a rebound in AI stocks against persistent concerns about interest rates and global tensions. While major indices showed modest gains, the S&P 500 and Nasdaq are set for their first monthly dip in three months. Stronger-than-expected jobs data hints at a resilient economy, but also fuels inflation worries and potential Fed rate hikes.
  
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• Iran-US interim peace deal may support India's growth: RBI

  30-06-2026 14:51 via timesofindia.indiatimes.com
  
  India's economy shows resilience despite global turbulence, with an interim Iran-US peace deal potentially boosting supply chains and easing geopolitical pressures, according to the RBI's Financial Stability Report. While macroeconomic fundamentals are strong, the nation remains vulnerable to imported energy price shocks. The report highlights sustained economic activity but warns of inflation risks from supply disruptions and potential fiscal deficit pressures.
  
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• Small savings schemes interest rates for July-Sept 2026 announced: Check latest rates for PPF, SSY, Kisan Vikas, NSC, SCSS & more

  30-06-2026 14:34 via timesofindia.indiatimes.com
  
  The ministry has decided to leave the rates unchanged across all small savings schemes for the July-September quarter. Interest rates across these schemes have remained unchanged for a prolonged period.
  
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• Nine years of GST: One tax, one market, many transformations

  30-06-2026 13:12 via timesofindia.indiatimes.com
  
  India's Goods and Services Tax (GST), rolled out in 2017, has transformed indirect taxation, creating a unified national market and boosting formalisation. Collections have surged, and businesses now operate digitally, improving efficiency. Consumers benefit from reduced tax cascading and greater price transparency. The next phase, GST 2.0, focuses on simplification, technology, and dispute resolution to further enhance ease of doing business and economic growth.
  
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• Finance ministry panel clears Rs 1.25 lakh crore for India Semiconductor Mission 2.0; Cabinet nod next

  30-06-2026 12:38 via timesofindia.indiatimes.com
  
  India's push for domestic chip manufacturing has received a significant boost with the Expenditure Finance Committee clearing a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0. This ambitious plan, awaiting Union Cabinet approval, aims to bolster indigenous chip design, production, and the entire value chain, a substantial increase from the previous phase.
  
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• Barrel of backups: India's crude imports bounce back despite Middle East disruptions

  30-06-2026 11:25 via timesofindia.indiatimes.com
  
  India's crude oil imports are nearing pre-conflict levels, thanks to refiners diversifying away from traditional Gulf suppliers.Purchases from Russia, the US, and other regions have compensated for Middle East disruptions.Russia remains a favored source due to attractive pricing.While the Strait of Hormuz has reopened, Asian refiners are cautious about immediate increases in Gulf purchases, focusing on existing cargo coverage and maintenance schedules.
  
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• Centre extends GSTAT appeal deadline to July 31 after portal glitches

  30-06-2026 10:05 via timesofindia.indiatimes.com
  
  The government has granted taxpayers an extra month to file appeals with the Goods and Services Tax Appellate Tribunal (GSTAT), extending the deadline to July 31, 2026. This decision follows concerns over technical issues on the GSTAT portal due to a recent surge in filings. The extension aims to ensure a smoother transition and prevent genuine appeals from being missed, with over 4.
  
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• Strait back in business: Hormuz traffic picks up again as supertankers slide through the passage

  30-06-2026 09:43 via timesofindia.indiatimes.com
  
  The Strait of Hormuz is seeing a welcome return of maritime traffic after a period of intense tension. Following recent attacks and subsequent retaliatory strikes, crude carriers are cautiously re-entering the Persian Gulf. Data indicates a significant increase in commodity vessel transits, signaling renewed confidence among shipowners and a potential boost for regional oil output.
  
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• Japanese Yen hits four-decade low against US dollar - why the currency is depreciating

  30-06-2026 09:39 via timesofindia.indiatimes.com
  
  The last time the yen traded at these levels, it was moving in the opposite direction, strengthening during a prolonged rally that followed a currency agreement brokered by the United States.
  
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• Jio IPO: What is Project Jupiter? How Mukesh Ambani’s Reliance worked behind closed doors for India's biggest offering

  30-06-2026 09:04 via timesofindia.indiatimes.com
  
  Reliance engaged with regulators to secure greater flexibility in IPO rules, encouraging key investors to divest their holdings, and designing the country's largest public offering while keeping its structure under wraps. The highly confidential initiative was internally code-named Project Jupiter, reflecting both its scale and strategic importance.
  
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• Want to invest in US stocks via GIFT City? How Indian brokers plan to make it easier

  30-06-2026 08:54 via timesofindia.indiatimes.com
  
  Leading Indian discount brokers are set to launch overseas investing via GIFT City, simplifying access to global stocks like Apple and Tesla for Indian investors. This move, facilitated by GIFT City's regulatory framework, allows investments as low as $1 through fractional ownership. Funds are transferred via the RBI's LRS, with investors retaining beneficial ownership and entitled to dividends. Tax implications, including a 20% TCS, apply.
  
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• Gold price prediction today: Why gold prices are unlikely to rise much in near-term; check June 30, 2026 outlook

  30-06-2026 07:56 via timesofindia.indiatimes.com
  
  Gold price prediction today: Gold prices are expected to continue being under pressure in the near-term as rate hike fears feed into a stronger dollar, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan.
  
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• OYO parent Prism files updated IPO papers for Rs 6,650 crore issue: What investors should know

  30-06-2026 07:42 via timesofindia.indiatimes.com
  
  Hospitality firm Prism, parent of OYO, has filed updated papers for a Rs 6,650 crore IPO, comprising only a fresh issue of shares. The company plans to use most proceeds to repay borrowings. Prism reported a significant jump in revenue and profit for the first nine months of FY26, driven by its US business. S&P Global Ratings also revised Prism's outlook to 'Positive'.
  
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• Pakistan backtracks on energy gamble, buys emergency LNG as Qatar exports stay in limbo

  30-06-2026 07:31 via timesofindia.indiatimes.com
  
  Pakistan has urgently secured a liquefied natural gas shipment amid ongoing disruptions in the Strait of Hormuz impacting Qatari exports.The nation's energy supply chain faces strain due to regional tensions, forcing reliance on costly spot market purchases.These incidents, including attacks on vessels, have halted Qatar's LNG flows, creating global energy market volatility and exacerbating Pakistan's economic pressures, including rising inflation.
  
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• Gold heads for worst month since 2008 as Fed rate-hike bets outweigh safe-haven demand

  30-06-2026 07:03 via timesofindia.indiatimes.com
  
  Gold prices are plummeting, heading for their worst monthly drop since 2008. Easing Middle East tensions and rising US interest rate expectations to combat inflation are driving the decline.Analysts suggest a strong dollar and higher rates are overshadowing gold's traditional safe-haven appeal. Investors are now keenly watching upcoming US jobs data for further clues on the Federal Reserve's monetary policy path.
  
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• 'We're in the final steps': US ambassador Sergio Gor signals progress on India-US trade deal

  30-06-2026 06:15 via timesofindia.indiatimes.com
  
  US Ambassador Sergio Gor announced that the US-India trade agreement is in its final stages, with only a small percentage of issues remaining. He expressed confidence in a swift conclusion after 18 months of talks, highlighting the pact's potential to bring greater certainty and stability for businesses. Bilateral trade has surged significantly, with both nations aiming for a $500 billion target.
  
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• India’s economy could hit $7 trillion this decade, double by mid-2030s

  30-06-2026 06:14 via timesofindia.indiatimes.com
  
  India's economy is projected to reach $7 trillion by 2030, with ambitions for $14 trillion by mid-2030s and $25-30 trillion by 2047, according to Ambassador Vinay Mohan Kwatra.Meanwhile, the US Ambassador to India, Sergio Gor, expressed optimism about finalizing an interim trade deal soon and hinted at a potential visit by President Trump to India next year, underscoring strengthening bilateral ties.
  
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• Top stocks to buy today: Stock market recommendations for June 30, 2026 - check list

  30-06-2026 05:33 via timesofindia.indiatimes.com
  
  Stock market recommendations: JSW Energy, Biocon, BHEL, and City Union Bank - these are the top stocks to buy recommended by Somil Mehta, Head of Retail Research at Mirae Asset Sharekhan for June 30, 2026:
  
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• Oil prices ease as investors await US-Iran talks; Brent crude falls to $72 per barrel

  30-06-2026 03:46 via timesofindia.indiatimes.com
  
  Oil prices dipped as markets weighed potential US-Iran talks in Doha against ongoing regional instability. Despite recent missile exchanges and attacks on ships, crude shipments through the Strait of Hormuz have seen an uptick. Investors are cautiously optimistic about diplomatic efforts, though tangible signs of de-escalation remain elusive. Analysts suggest Gulf oil flows are steadily recovering, potentially returning to pre-conflict levels soon.
  
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