Heena Sharma Blog

  Petrol and diesel prices on Tuesday were cut for the third time within a week on the back of softening international oil prices . Petrol price was cut by 22 paise per litre and diesel by 23 paise per litre, according to a price notification of state-owned fuel retailers. Petrol now costs Rs 90.56 per litre in Delhi and a litre of diesel comes for Rs 80.87. Rates have been reduced across the country and vary from state to state depending on the local incidence of taxation (VAT). In Mumbai, the petrol price was cut to Rs 96.98 a litre on Tuesday from Rs 97.19, while diesel rates were reduced to Rs 87.96 from Rs 88.20, the price notification showed. Read More

On Tuesday, India saw the biggest single-day spike with 3,900 cases and 195 deaths, mounting the country's tally to 49,391 and 1,694 deaths according to the Ministry of Health and Family Welfare . That apart, in view of the zooming cases, the Telangana government has extended the lockdown period till May 29 while Mumbai revoked permission for liquor shops following massive violation of social distancing norms in the last two days. Besides, the central government is set to bring back close to 2.5 lakh Indians stranded abroad, making it the biggest-ever evacuation exercise in modern history. Read More

Compared to December 2017, the real effective depreciation of Indian rupees is between six and seven per cent, says an IMF estimate. Broadly since the beginning of the year, Indian rupee has lost about 11 per cent of its value in nominal terms vis a vis the US dollar", said IMF spokesperson Gerry Rice, responding to a question on the fall of the Indian currency in the last few months. He, however, said the currencies of many of India's trading partners, including those in the emerging markets, too have depreciated against the dollar. As a result, so far this year the real effective depreciation of the Indian rupees compared to December 2017 is, by our estimates, between six and seven per cent, Rice said. Read Complete Article