Blog for Stock tips, Equity tips, Commodity tips, Forex tips: Sharetipsinfo.com

Top investment tips for youngsters, college students - Sharetipsinfo

31. December 2021 Sandeep Stock Market Research (0)

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

Catch them young is a saying that refers to instilling positive habits in children at a young age so that they would endure a lifetime. Apart from the idea of practical knowledge for students, it is a good idea to start investing early and for a longer period of time, as this will help them better manage their finances in the future. Early investing also enables people to take tiny, calculated risks without jeopardising their livelihoods or long-term plans. College students are young and active, and college is actually one of the finest places to start learning about investing.

The most difficult element of starting to invest is beginning to conceive of yourself as an investor, because many individuals assume that investing possibilities are only available to the working class and the wealthy society owing to a lack of understanding. However, college students, in particular, can be the best investors because they have various advantages.

While most young people in India are hesitant to invest because they have no other financial obligations, it is a viable choice for them to become wealthier in the future. Even a small sum of money can be used to start building a portfolio in the world of investing. It can actually be a benefit because you'll be learning how to invest and deal without the risk of losing a huge chunk of money in the beginning.

After you finish your education, make sure you get off to a good financial start by taking your financial future seriously while you're still in college. Here are a few recommendations for young people who want to invest but don't know how. Explain the fundamental distinction between saving and investing: It is critical for students to realise that, while saving is a safe option with lower returns, investing in modest increments allows money to grow on its own and has the potential to yield a significant return.

Keep your money: As we all know, teenagers have a compulsion to spend all of their money, despite the fact that they have an endless amount of it. However, if students are prepared to put out the effort to save and invest a percentage of their income, all they need to do is create a brokerage account for stock investments and day trading. You will not see the rewards of your investment right once; however, investing in company shares is an excellent approach to aim for long-term gains.

Explain the basics: Investing allows you to build a broad financial portfolio. As a result, students must be taught the fundamentals of investing, such as stocks, mutual funds, the NSE, equity, and the BSE, among other things. Helping kids understand the fundamental concepts of diverse variations will give them additional options and choices.

Keep an eye on background research: one of the most important rules for college students and young investors to understand is to conduct background research. There are acceptable dangers associated with managing assets; therefore, before investing, one should conduct their own study. Beginners and young people should look at the performance of the company in which they intend to invest on a yearly and quarterly basis. The previous performance of a company cannot predict future outcomes, but it can provide an overview of the firm's future trajectory. You can also monitor practically all of the major business news networks for a briefing on fresh market trends.

Go for low-risk investment options, and try to invest in low-risk options: we often say that calculation is the key to success when it comes to investment. Young or college-aged investors may find it beneficial to invest in stocks and mutual funds, but low-risk solutions should be studied so that they do not lose more money as a result of the stock market's danger. To achieve a reasonable return on any stock market, you must plan ahead of time. Young people, according to experts, should invest for the long term.

Never get carried away: When entering the Stock Market, you must keep in mind that it is a fragile yet addictive environment. After a brief period of success, you should never get carried away. Brokers are frequently approached with requests, but you must remember that you have the final authority to invest in any programme.

Govt approves 19th tranche of electoral bonds; sale opens on January 1

31. December 2021 Sandeep Stock Market Research (0)

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding. However, Opposition parties have been raising concerns about alleged opaqueness in funding through such bonds.

Ahead of assembly elections in five states, the government on Friday approved issuance of the 19th tranche of electoral bonds which will be open for sale from January 1 to 10.

Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding. However, Opposition parties have been raising concerns about alleged opaqueness in funding through such bonds.

"State Bank of India (SBI), in the XIX Phase of sale, has been authorised to issue and encash Electoral Bonds through its 29 Authorized Branches with effect from January 1 to January 10, 2022," the finance ministry said in a statement.

The 29 specified SBI branches are in cities such as Lucknow, Shimla, Dehradun Kolkata, Guwahati, Chennai, Thiruvananthapuram, Patna, New Delhi, Chandigarh, Srinagar, Gandhinagar, Bhopal, Raipur, and Mumbai.

Assembly elections for 5 states-- Uttar Pradesh, Uttarakhand, Punjab, Himachal Pradesh and Goa-- are expected to be announced next month.

The sale of the first batch of electoral bonds took place from March 1-10, 2018. The 18th tranche of bond sale took place from September 1 to September 10, 2021.

According to provisions of the scheme, electoral bonds can be purchased by a person who is a citizen of India or entities incorporated or established in India.

Registered political parties that have secured not less than 1 per cent of the votes polled in the last election of Lok Sabha or legislative assembly are eligible to receive electoral bonds.

SBI is the only authorised bank to issue such bonds.

An electoral bond will be valid for 15 days from the date of issue. No payment would be made to any payee political party if the bond is deposited after expiry of the validity period, as per the statement.

The bond deposited by any eligible political party into its account would be credited on the same day.

Click Here:- Get Share Market Tips With 85% Accuracy

Pre-budget meeting: Tamil Nadu seeks unconditional borrowings of 5% GSDP for FY 2022-23 owing to COVID-19

30. December 2021 Sandeep Stock Market Research (0)

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

Also, Tamil Nadu demanded a comprehensive revival package for MSMEs severely affected by the pandemic induced lockdown besides a roll-back of the 12 percent tax (from 5 percent) for textile and apparel sector.

With the States incurring huge expenditure to combat the COVID-19 pandemic with substantial reduction in revenues, the Tamil Nadu government on Thursday sought the Centre to permit State borrowings of 5 percent of the GSDP without any conditions for 2022-23 fiscal. Also, Tamil Nadu demanded a comprehensive revival package for MSMEs severely affected by the pandemic induced lockdown besides a roll-back of the 12 percent tax (from 5 percent) for textile and apparel sector.

Addressing the pre-budget consultation meeting with finance ministers of States and Union Territories, chaired by Union Finance Minister Nirmala Sitharaman in the national capital on Thursday, Tamil Nadu Finance Minister P T R Palanivel Thiagarajan said the Union Government's pre-conditions for availing additional borrowing limit of 1 percent (0.5 percent for capital expenditure and 0.5 percent for power sector reforms) of the GSDP, adversely affects the State finances and its patterns of expenditure.I urge the Union Government to permit the States to borrow unconditionally within the prescribed limits. Further, as the States have incurred huge expenditure to fight COVID-19 with substantial reduction in revenues, I urge the government to permit borrowing of 5 percent of GSDP without any conditions for 2022 – 23 fiscal, Thiagarajan stressed.

ALSO READ: Govt extends FY'21 GST annual return filing deadline till February 28

Pointing out that the second COVID-19 wave had severely affected the MSME sector in Tamil Nadu due to closure during the lockdown, loss of demand, disruptions in supply chain and shortage of labour, the Minister called upon the Centre to develop a comprehensive revival package for MSMEs including concessional credit, loan moratorium and deferment of statutory dues. These, he argued was because the full benefits of the series of stimulus measures already announced by the Centre has not reached the last mile. A special infrastructure support scheme for creating export related to MSMEs may be announced, he said and wanted the Centre to reexamine the policy of SIDBI and include State Finance Corporations in extending low-cost funds for the benefit of the MSMEs.

Expansion of the VOC port in Thoothukudi with Outer Harbour project including dredging of upto 17 m draught in order to reduce dependency on Colombo port to trans-ship Indian goods, expediting the final sanction by the Cabinet Committee on Economic Affairs for Chennai Metro Rail Phase II project for a 50:50 equity share between Tamil Nadu and the Centre, release of adequate funds for speedier execution and completion of railway projects pending in the State, funding for the National Institute of Pharmaceutical Education and Research (NIPER) project and waiver of customs duty on wood imported for an international furniture park to be set up in Thoothukudi were among the projects which Thiagarajan hoped would be accommodated in the union budget.The Union Budget is an integral part of fiscal federalism and has assumed even greater significance at a time when the finances of all States are under severe stress due to the COVID-19 pandemic, Thiagarajan said and added that recognising the importance of adequate fiscal resources and autonomy, the fathers of the constitution provided States with some powers of taxation and mandated a sharing of taxes between Union and States.

This original balance which was already skewed against true fiscal federalism has been skewed even further towards the Union over a period of time. The increased levy of cesses and surcharges, which do not form part of the divisible pool of taxes, has adversely affected the transfer of resources to the States, he claimed.Cesses and surcharges as a proportion of the Gross Tax Revenue of the Centre have almost tripled from 6.26 percent in 2010-11 to 19.9 percent in 2020-21. In effect, States are deprived of a share in approximately 20 percent of the revenue collected by the Union. If these taxes were added to the divisible pool, the States would have obtained an additional transfer of approximately Rs 1.5 lakh crores as their share from the pool of central taxes in FY 2021-22.

While the share in taxes is a legitimate right and provides the State the autonomy to cater to local needs and aspirations, the grants-in-aid are discretionary and tied funds. This greatly impinges on the federal structure enshrined in the Constitution. I strongly urge the Union Government to merge the cesses and surcharges into the basic rates of tax so that the States receive their legitimate share in devolution, he said.

Govt extends FY'21 GST annual return filing deadline till February 28

30. December 2021 Sandeep Stock Market Research (0)

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

"The due date for furnishing annual return in FORM GSTR-9 & self-certified reconciliation statement in FORM GSTR-9C for the financial year 2020-21 has been extended from 31.12.2021 to 28.02.2022," the Central Board of Indirect Taxes & Customs (CBIC) tweeted.

GST Annual Return Filing Deadline for FY 2020–21 Extended Till February 28, Says CBIC | LatestLY The government on Wednesday extended till February 28 the deadline for businesses to file GST annual returns for 2020-21 fiscal ended March 2021.

"The due date for furnishing annual return in FORM GSTR-9 & self-certified reconciliation statement in FORM GSTR-9C for the financial year 2020-21 has been extended from 31.12.2021 to 28.02.2022," the Central Board of Indirect Taxes & Customs (CBIC) tweeted.

GSTR 9 is an annual return to be filed yearly by taxpayers registered under the Goods and Services Tax (GST). It consists of details regarding the outward and inward supplies made or received under different tax heads.

GSTR-9C is a statement of reconciliation between GSTR-9 and the audited annual financial statement.

Furnishing of the annual return is mandatory only for taxpayers with aggregate annual turnover above Rs 2 crore while reconciliation statement is to be furnished only by the registered persons having aggregate turnover above Rs. 5 crore.

Click Here:- How to Invest in Crude Oil [A Beginner's Guide] | Sharetipsinfo

How to Invest in Crude Oil [A Beginner's Guide] | Sharetipsinfo

28. December 2021 Sandeep Stock Market Research (0)

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

There are a variety of options for investors to gain exposure to oil as a financial asset. These alternatives, which range from investing directly in oil as a commodity to gaining indirect exposure to oil through the ownership of energy-related stocks, ETFs, or options contracts, all come with varying degrees of risk. A broker or an online brokerage account can be used to purchase each of these investment types.

Oil as an Asset

Because oil is the source of so much of the energy we use, it is an economically and strategically important resource for many countries. Large stocks of crude oil are held by countries like the United States for future usage. Changes in oil stock levels are reflections of patterns in production and consumption, and the measure of these reserves serves as a signal for investors.

Aside from supply and demand, investors and speculators bidding on oil futures contracts have also influenced oil prices. Commodity-linked assets are held by many big institutional investors presently participating in the oil markets, such as pension and endowment funds, as part of a long-term asset allocation strategy. Others, such as Wall Street traders, trade oil futures for very short periods of time in order to profit quickly. Some analysts believe these speculators are to blame for large short-term volatility in oil prices, while others say their impact is minor.

Oil Investing Directly

One direct means of owning oil is to acquire oil futures or options. Futures are very volatile and carry a high degree of risk. Furthermore, futures trading may involve lengthy research as well as a significant financial expenditure.

Investing in commodity-based oil exchange-traded funds is another option to directly own oil (ETFs). ETFs are exchanged on a stock exchange and can be purchased and sold just like stocks.

Oil Investing Through Indirect Means

Energy-sector ETFs, such as the iShares Global Energy ETF (IXC),5 and energy-sector mutual funds, such as the T. Rowe Price New Era Fund, can also provide indirect exposure to oil (PRNEX). 6 These low-risk energy-specific ETFs and mutual funds invest largely in oil and oil services companies' stocks.

Conclusion

Oil is one of the most volatile investment commodities accessible. Every day, traders and investors in the oil market have a plethora of options. Oil, on the other hand, is a risky investment due to its volatility. As a result, it is recommended that you hire an financial advisor to assist you in making oil investments based on technical analysis.

India’s business resumption hits fresh record high: Nomura

28. December 2021 Sandeep Stock Market Research (0)

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

The Nomura India business Resumption index touched yet another high of 119.8 for the week ended 26 December versus 116.4 in the prior week, 20 basis points higher than the pre pandemic level, the Japanese financial holding company said on December 28.

Business resumption hits record high, regains mojo after 2-week fatigue: Nomura

The data suggest that the economy remains on recovery path despite fear of surging omicron cases, tightening policy by central bank and inflationary pressure.

Last week, amid rising cases of omicron, many state governments imposed night curfew which will remain until the first week of January. Further, the Union government has announced booster doses for frontline workers and senior citizens along with vaccination for children aged between 15-18 from January.

The current restrictions appear primarily targeted towards new year festivities, but if these get extended into January, they may affect mobility and delay the recovery in contact-intensive services. However, a more pandemic resilient economy should cushion industry, broader services, and agriculture, supporting overall growth” Nomura Research said in its report.

The number of Omicron cases risen to 578 in India and at least 151 patients recovered, the government said on Monday. It reported 6531 new coronavirus cases and 315 deaths on Monday.

Mobility continued to improve, led by the Google workplace (5.6 percentage points over the week) and Apple driving indices (11.5pp), even though the Google retail & recreation stayed largely flat (-0.1pp). The labour participation rate inched lower to 40.7% from 40.9% in the prior week, while power demand rose by 2.5% week on week against 3.2% previously.

Click Here:- Stock Market Tips 99% Accurate - 99% Accurate Tips Provider

Share Market Closing Note , Indian Stock Market Trading View For 27 Dec 2021 - Sharetipsinfo

27. December 2021 Sandeep Stock Market Research (0)

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

Benchmark indices erased previous session losses and ended higher with Nifty closing near 17,100.

Closing Bell: Day Trading, Money Manager and Investor News

At close, the Sensex was up 334.86 points or 0.59% at 57,459.17, and the Nifty was up 92.50 points or 0.54% at 17,096.30. About 1944 shares have advanced, 1285 shares declined, and 124 shares are unchanged.

Tech Mahindra, Cipla, Dr Reddys Laboratories, UPL and Kotak Mahindra Bank were among the top Nifty gainers on the Nifty. Losers were Hindalco Industries, Britannia Industries, IndusInd Bank, ONGC and Grasim Industries.

Among sectors except metal, all other sectoral indices ended higher with pharma index gained 1 percent. The BSE midcap index and smallcap indices ended in the green.

--------------------------------------------------------------------------------------------

Topic :- Time:3.00 PM

Nifty spot if manages to close above 17040 level then expect some upmove in coming sessions and if it closes below above mentioned level then some sluggish movement is likely to be seen. Avoid open positions for tomorrow.

--------------------------------------------------------------------------------------------

Topic :- Time:2.00 PM

Nifty is trading in green zone now. Nifty spot if manages to trade and sustain above 17080 level then expect some quick upmove and if it breaks and trade below 17740 level then some decline can follow in it.

--------------------------------------------------------------------------------------------

Topic :- Time:1.45 PM

Just In:

IIFL HFL Disbursed loans of over ₹ 3000 crore

--------------------------------------------------------------------------------------------

Topic :- Time:1.45 PM

New York sees increase in hospitalized children as Omicron hammers US:

With Omicron cases on the rise, New York health officials have reported an increase in hospitalized children, as the White House promised Sunday to quickly resolve the United States Covid-19 test shortage.

The New York State Department of Health warned of an upward trend in pediatric hospitalizations associated with Covid-19, in a statement Friday.

In New York City, it identified four-fold increases in Covid-19 hospital admissions for children 18 and under beginning the week of December 5 through the current week, it said.

Approximately half of the admissions are younger than five, an age group that is vaccine ineligible, the department added.

The number of Covid-19 cases in the United States is on the rise, with an average of nearly 190,000 new infections daily over the past seven days, according to figures from Johns Hopkins University.

The arrival of the new Omicron variant, compounded by holiday celebrations that typically include travel and family reunions, have caused a rush on tests in the United States, where it is difficult to get one in many locations.

Top US pandemic advisor Anthony Fauci on Sunday acknowledged a Covid testing problem and vowed to make more tests available to Americans next month.

One of the problems is that thats not going to be totally available to everyone until we get to January and there are still some issues now of people having trouble getting tested, Fauci told ABC News.

But we are addressing the testing problem, he added, saying it should be corrected very soon.

On Tuesday, President Joe Biden announced a raft of new measures as the United States battles its latest Covid surge, including shipping half a billion free home tests in the wake of the Christmastime testing crunch.

--------------------------------------------------------------------------------------------

Topic :- Time:1.30 PM

NATURALGAS Trading View:

NG is trading at 286.50.If it breaks and trade below 286.00 level then expect some decline in it and if it manages to trade and sustain above 287.40 level then some upmove can follow in it.

--------------------------------------------------------------------------------------------

Topic :- Time:1.10 PM

Important Alert:

1. RBI says RBL Bank well capitalised, financial position satisfactory

2. RBL Bank has financial strength, capital for growth ahead: Interim CEO Rajeev Ahuja

3. RBL Bank must fix its books, leadership to win back investor confidence

4. Saraswat Bank chairman, seven more booked in cheating case in Pune

------------------------------------------------------------------------------------------

Topic :- Time:1.00 PM

Nifty is rangebound however it is trading in positive zone now. Nifty spot if manages to trade and sustain above 17080 level then expect some quick upmove in the market and if it breaks and trade below 17040 level then some decline can follow in the market.

--------------------------------------------------------------------------------------------

Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 754.20.If it breaks and trade below 752.50 level then expect it to fall till 748-749 levels and if it manages to trade and sustain above 755.50 level then some upmove can be seen in it.

--------------------------------------------------------------------------------------------

Topic :- Time:12.00 PM

Nifty is highly rangebound. Nifty spot if manages to trade and sustain above 17040-17050 levels then expect some quick upmove and if it breaks and trade below 17000 level then some decline can be seen in the market. Traders are advised to wait for some movement before taking big positions.

--------------------------------------------------------------------------------------------

Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex, Nifty remain choppy; Private banks worst hit

2. BL Bank tanks 20% as Vishwavir Ahuja goes on leave

3. Air Indias return flight to Tatas may get delayed due to pending approvals

4. Adani Group nears first coal shipment from shunned Australian mine

5. Foxconn India plant shut for 3 more days after week-long closure: Report

6. Kabra Extrusion surges 16% on Rs 100 crore capex plan for its battery unit

7. TBO Tek files papers with market regulator to raise Rs 2,100-crore via IPO

8. MFs add Rs 7 trn to kitty in 2021; Omicron possible red flag for 2022

--------------------------------------------------------------------------------------------

Topic :- Nifty Opening Note

Indian Stock Market Trading View For 27 Dec,2021:

Consolidation expected in the market. Global cues and omicron threat will act as trend decider for the week.

Nifty spot if manages to trade and sustain above 17040 level then some upmove can follow in the market and if it breaks and trade below 16980 level then some decline can follow in the market. Please note this is just opening view and should not be considered as the view for the whole day.

--------------------------------------------------------------------------------------------

At least 70% young students face learning poverty for shut schools, says World Bank

27. December 2021 Sandeep Stock Market Research (0)

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

This generation of students risks losing $17 trillion in lifetime earnings in present value, or about 14 percent of today’s global GDP, as a result of COVID-19-related school closures

More than 70 percent of 10-year-olds in low and middle income economies have slipped into a learning poverty because of the pandemic, risking $17-trillion loss in lifetime earnings for the generation, according to a World Bank estimate.

It will have a lasting impact on future earnings, poverty alleviation, and reducing inequality, the World Bank has said in a note.

One of the devastating impacts of COVID-19 on the poor and vulnerable can be seen in the field of education. It dealt a severe blow to the lives of young children, students, and youth and further exacerbated inequalities in education, the World Bank wrote.

“Due to prolonged school closures and poor learning outcomes, recent World Bank estimates document that increases in learning poverty – the share of 10-year-olds who cannot read a basic text – could reach 70 percent in low- and middle-income countries,” the agency said in a year-end review note. But it did not give country-specific details.

“In response to the deepening education crisis, the Bank has rapidly ramped up its support to developing countries, with projects reaching at least 432 million students and 26 million teachers – one-third of the student population and nearly a quarter of the teacher workforce in current client countries,” it said.

Reiterating how the pandemic has pushed people into poverty, the World Bank wrote that extreme poverty rose in 2020 for the first time in over 20 years and around 100 million more people are living on less than $1.90 a day.

From uneven economic recovery to unequal access to vaccines, from widening income losses to divergence in learning, COVID-19 has had a disproportionate impact on the poor and vulnerable in 2021. It is causing reversals in development and is dealing a setback to efforts to end extreme poverty and reduce inequality.

Explaining the learning poverty among 10-year-olds, World Bank said that out of every 100 students in the age group, 56 were in learning poverty prior to the pandemic and it has now touched 70. Of this 9 percent are schooling deprived and rest learning deprived. It means, only 30 percent are now not in learning poverty.

Earlier this year, the World Bank, UNESCO, and UNICEF had said in a joint report that this generation of students “now risks losing $17 trillion in lifetime earnings in present value, or about 14 percent of today’s global GDP, as a result of COVID-19 pandemic-related school closures.” The new projection reveals that the impact is more severe than previously thought, and far exceeds the $10 trillion estimates released in 2020.

Also Read:- Amit Mitra urges PM Modi to call GST meet to reverse tax hike on textiles

Though the World Bank did not mention anything specific about India, several recent surveys had showed how Indian students have suffered a massive learning loss due to the school closures. Though schools have officially opened in most of the states partly or fully, the attendance continues to be low due to the continued fear of the pandemic.

Amit Mitra urges PM Modi to call GST meet to reverse tax hike on textiles

27. December 2021 Sandeep Stock Market Research (0)

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

In a tweet Mitra said, "Modi Govt will commit another blunder on Jan 1. By raising GST on (man-made) Textiles (from) 5 per cent to 12 per cent, 15 million jobs will be lost and 1 lakh units will close. Modi ji, call a GST Council meeting now and reverse decision before sword of Damocles falls falls on the head of millions of people."

GST Council Meeting Highlights: Should Centre compensate states for loss from coronavirus? | The Financial Express

Former West Bengal finance minister and now advisor to the state Chief Minister, Amit Mitra on Sunday urged Prime Minister Narendra Modi to convene an urgent meeting of the GST Council to revert a hike in tax on man-made fibre textiles.

In a tweet Mitra said, "Modi Govt will commit another blunder on Jan 1. By raising GST on (man-made) Textiles (from) 5 per cent to 12 per cent, 15 million jobs will be lost and 1 lakh units will close. Modi ji, call a GST Council meeting now and reverse decision before sword of Damocles falls falls on the head of millions of people."

The union government had notified an increase in GST on natural fibre products from 5 per cent to 12 per cent, including apparels in the lower tax bracket with effect from January 1, 2022.

The former finance minister on December 24 at a media meet had urged the Union Finance Minister Nirmala Sitharaman to similarly convene an urgent meeting of the GST Council to rescind the seven per cent tax hike in GST on the textiles sector to prevent job loss and closure of small units.

"If the tax (hike) is not reversed then the impact will be huge with job loss to 15 lakh (1.5 million) people, including those engaged in ancillary industry and closure of one lakh small units. A lot of units will revert to the informal sector, Mitra had told reporters during the meet.

However in his tweet put out on Sunday the job loss figure was placed at 15 million. The total number of jobs in India's textile sector is placed at 45 million by the India Brand Equity Foundation a trust founded by the Ministry of Commerce and Industry.

Mitra had pointed out that the textile trade's natural fibre segment constitutes 80 per cent of the Rs 5.4 lakh crore sector and its net profit margin is between one and three per cent making it vulnerable to any kind of cost increase.

Also Read:- Basavaraj Bommai-led GoM on GST rate likely to submit report by February

The cotton sector is already reeling under 70 per cent inflation, he had claimed, adding that the government estimate of earning an additional Rs 7,000 crore from raising the tax is mythical as a lot of units may shut down as a direct consequence of the tax hike.

He had accused the Centre of not discussing the issue in the GST council before announcing the hike.

India's forex reserves dip by $160 million to $635.67 billion

25. December 2021 Sandeep Stock Market Research (0)

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

The country’s foreign exchange reserves declined by $160 million to stand at $635.667 billion in the week to December 17, RBI data showed on Friday.

India's Forex Reserves Dip By $160 Million To $635.67 Billion

In the previous week ended December 10, the reserves had decreased by $77 million to $635.828 billion.It touched a lifetime high of $642.453 billion in the week ended September 3, 2021.

During the reporting week ended December 17, the dip in the forex kitty was on account of a decline in foreign currency assets (FCAs), a major component of the overall reserves.

FCAs tumbled by $645 million to $572.216 billion, weekly data released by the Reserve Bank of India (RBI) showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves rose by $475 million to $39.183 billion in the reporting week.

Read Also :- 8 Reasons Why You Need a Financial Advisor

The special drawing rights (SDRs) with the International Monetary Fund (IMF) remained unchanged at $19.089 billion.

The country’s reserve position with the IMF increased by $9 million to $5.179 billion in the reporting week, as per the data.

Mon	Tue	Wed	Thu	Fri	Sat	Sun
28	29	30	31	1	2	3
4	5	6	7	8	9	10
11	12	13	14	15	16	17
18	19	20	21	22	23	24
25	26	27	28	29	30	1
2	3	4	5	6	7	8