Data recap: Poverty report, gaming tax, inflation
second spotcontinued between Hyundai Motor and Tata Motors. This was a particularly rainy week in northern India, with loss of lives and property reported in multiple states, especially the hills.Delhireceived 40% of its seasonal rainfall in just a two-day period. Till 30 June, the monsoon deficit for the entire country was 10% of the long-period average.
In just 10 days of deluge the numbers have turned around, with a surplus of 2%. The India Meteorological Department said the heavy rains were caused by a western disturbance interacting with the monsoon flow. 28%:That’s the goods and services tax (GST) rate that you will need to pay on the entire entry fee as well as the platform fee if you are an online real-money gamer.
The GST Council announced the decision after its 50th meeting on Tuesday. Earlier, only the platform fee was taxed under GST. Industry associations and companies argue that this move will not only restrict cash flow, but alsodiminish players’ motivationto participate on legitimate sites, driving them towards illegal offshore betting companies, Mint reported.
Last week, the combined market capitalization of BSE-listed companies hit the ₹300-trillion mark. India’s stock market has outperformed most large markets over the last three years, ahowindialives.com analysisexplained. This has raised its share in global market capitalization, breaking into the top five in March 2022 by overtaking the UK.
The ranking dropped earlier this year, but has again recovered. India trails only the US, China, Japan and Hong Kong on this measure. India’s retail inflation jumped for the first time in five months to 4.81% in June, up from 4.31% in May on the back of a rise in vegetable prices, data released by
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