Oil stocks get a lift from cut in windfall taxes, RIL gains 2.5% https://ift.tt/ND9VLW0 government on July 1 imposed an export tax on petrol, diesel and aviation turbine fuel (ATF) as well as a windfall tax on crude oil produced locally, sending stock prices of oil refiners and producers crashing. The moves dented market expectations of further record profits, which have been driven by elevated oil prices and a global energy deficit.
Government's cash surplus tops Rs 3.4 lakh crore https://ift.tt/54P3HSG from the deceleration in government spending, higher direct tax collections and a likely sharp rise in issuances of Treasury Bills by the Centre in FY24 were factors pushing up the government's cash balances, analysts said. The flow of government cash balances to and from the banking system is a key factor that influences liquidity conditions.
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