Top headlines: ED arrests ex-NSE MD; June trade deficit widens to $26 bn

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Phone tapping case: ED nabs ex-NSE MD Chitra Ramkrishna, gets 4-day custody

The Enforcement Directorate on Thursday arrested former NSE MD Chitra Ramkrishna in a money laundering case connected with alleged illegal phone tapping and snooping of stock exchange employees after getting the nod from a Delhi court to probe the matter.

Special Judge Sunaina Sharma allowed four-day custodial interrogation of Ramkrishna. Read more...

Exports up 23.5% to $40 bn in June; trade deficit widens to record $26.2 bn

India's merchandise exports in June grew by 23.52 per cent to $40.13 billion, while the trade deficit ballooned to a record of $26.18 billion, according to the government data released on Thursday.

Imports expanded by 57.55 per cent to $66.31 billion in June compared to the year-ago month, the data showed. Read more...

Maharashtra govt cuts VAT on petrol by Rs 5, diesel by Rs 3 per litre

Maharashtra government has decided to reduce the value added tax (VAT) on petrol and diesel by Rs 5 and Rs 3 per litre respectively, Chief Minister Eknath Shinde said here on Thursday.

The decision, to be implemented from Thursday midnight, would entail a burden of Rs 6,000 crore on the state exchequer. It will benefit the common man affected by the fuel price hike, Shinde told reporters after a cabinet meeting at the secretariat 'Mantralaya'. Read more...

June WPI-based inflation cools to 15.18% from May's four-decade high

Wholesale Price Index-based inflation (WPI) for June decreased slightly from a four-decade high in May. Still, it remained at 15.18 per cent, primarily driven by international crude prices, food articles, mineral oils, and others. This was the third consecutive month that factory-gate inflation was above the 15 per cent mark.

WPI inflation in May had come in at 15.88 per cent, a record for the current series and the highest since September 1991. Read more...