Business highlights

Following are the top business stories at 2020 hours: DEL85 BIZ-LDALL PETROL-TAX Govt slaps Rs 66,000 cr windfall tax on crude oil production; introduces export levy on petrol, diesel, ATF New Delhi: The government on Friday slapped an export tax on petrol and diesel after some refineries made ''phenomenal profits'' shipping overseas at the cost of domestic supplies, and imposed a Rs 66,000 crore windfall tax on crude oil produced locally.

DEL74 BIZ-GOLD-LD IMPORT DUTY Govt hikes gold import duty to 15 pc New Delhi: The government has hiked gold import duty to 15 per cent from 10.75 per cent to check the current account deficit (CAD) and rising import of the yellow metal.

DEL97 BIZ-LD RUPEE Rupee rebounds from all-time low, rises 12 paise to 78.94/USD Mumbai: Snapping its five-session losing streak, the rupee rebounded from its lifetime low to close 12 paise higher at 78.94 against the US dollar on Friday amid efforts by the government to curb gold imports and check the current account deficit.

DEL68 BIZ-FM-RUPEE Govt watchful and mindful of impact of declining rupee on imports: FM New Delhi: The government is watchful and mindful of the impact of falling rupee on the country's imports, finance minister Nirmala Sitharaman said, while asserting that Indian currency has performed relatively better than others against dollar.

DEL94 BIZ-2NDLD FM-GST June GST collections rise 56% to Rs 1.44 lakh cr, second-highest since rollout New Delhi: GST collections in June witnessed a 56 per cent year-on-year rise to over Rs 1.44 lakh crore, Finance Minister Nirmala Sitharaman said on Friday, as she exhorted tax officers to ensure the system is so transparent that even an iota of discretion is not there. DEL73 BIZ-LD STOCKS Markets slip for 3rd day as fag-end rebound loses steam; RIL tumbles 7 pc post oil export tax Mumbai: The BSE Sensex pared most of its losses to end modestly lower on Friday, pressured by a sharp decline in index heavyweight Reliance Industries after the government imposed an export tax on petroleum products.

DCM21 BIZ-RBI-BIGTECH Big tech firms offering financial services pose risk to financial stability: RBI Mumbai: Big tech companies offering financial services pose risk to financial stability as their complex intertwined operational linkages with financial institutions could lead to contagion effect and potential anti-competitive behaviour, the RBI has said.

DCM52 BIZ-GOVT-EDUTECH COMPANIES Govt warns edtech companies against unfair trade practices New Delhi: The government on Friday warned edtech companies against indulging in unfair trade practices, including misleading advertisements, and said it will be forced to bring stringent guidelines if there is no self regulation by the industry players.

DEL89 BIZ-FOREX RESERVES Forex reserves rise by USD 2.73 bln to USD 593.323 bln Mumbai: The country's foreign exchange reserves increased by USD 2.734 billion to USD 593.323 billion for the week ended June 24 on the back of a surge in the core currency assets, the Reserve Bank of India (RBI) said on Friday.

DEL62 BIZ-GOLD-PRICE Gold jumps Rs 1,088 amid import duty hike New Delhi: Gold in the national capital on Friday rose by Rs 1,088 to Rs 51,458 per 10 grams, according to HDFC securities.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)