The government has halved windfall gains tax on export of petrol to Rs 1.5 litre, while reducing the levy on diesel to Rs 13.5/litre and aviation turbine fuel to Rs 9.5/litre effective June 1.

The Reserve Bank of India (RBI) is likely to hold repo rate hike in its June monetary policy meeting and must use short-term rates and nudging to manage the pressure on the domestic currency, an SBI Research report said on Sunday.

The economic fallout of the West Asia crisis, the prevailing security situation in the Indo-Pacific and ways to boost cooperation in critical minerals and technology are expected to top the agenda at a crucial meeting of the Quad foreign ministers on Tuesday.

India and the US are poised to soon firm up the much-awaited trade agreement that will be both “beneficial” and “sustainable” and will advance the mutual interests of both nations, US Secretary of State Marco Rubio said on Sunday while asserting that the overall bilateral ties are set to witness an upward trajectory.