Facing public resentment over the recent spike in fuel prices, the government on Tuesday cut the excise duty on both branded and unbranded petrol and diesel by Rs 2 a litre from Wednesday. According to sources, the finance ministry was initially reluctant to reduce the duty due to revenue concerns, but relented after discussions with the petroleum ministry on implementing steps to bring down petrol prices to Rs 60-65 a litre.
Monetary policy review: Why RBI might not cut rates today
The six-member Monetary Policy Committee (MPC), headed by Reserve Bank of India Governor Urjit Patel, will announce its interest rate decision today. Analysts largely expect the central bank to maintain the status quo, but add there could be a rate cut later in the financial year. There are also some who see the rate-cut cycle, which started on January 15, 2015, by bringing down the repo rate to 7.75 per cent from 8 per cent, to have reached its end.
PE firms make record exits of $9.4 billion in 2017
Private equity (PE) investors have sold a record $9.4 billion worth of shares in the first nine months of the year, against the previous high of $6.6 billion in 2016.
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