Top economic news of the day

India Infoline News Service | Mumbai |

The Commerce Ministry has made a strong pitch for restoration of tax benefits to Special Economic Zones and removal of import restrictions on gold in the forthcoming Budget

The oil ministry is preparing a fresh proposal for the Cabinet to deregulate diesel, as a projected drop in revenue losses on the fuel to a record low of Rs 1.65 per litre by June 15 provides an opportunity to the new regime to reduce the annual Rs1.4tn fuel subsidy burden. (ET)

The Commerce Ministry has made a strong pitch for restoration of tax benefits to Special Economic Zones and removal of import restrictions on gold in the forthcoming Budget. (BL)

The countrys merchandise exports in May rose at a 7 month high rate of 12.4% to US$27.99bn from US$24.91bn in the same month last year, driven mainly by a demand revival in developed countries for high-value engineering and refinery products. Imports in the month, meanwhile, declined 11.41% to US$39.23bn from US$44.28bn in May 2013, largely on the back of a 72% decline in inbound gold shipments. (BS)
 

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