The cess will be structured in such a way that only a pre-determined amount will be collected within a specific time limit.

On Tuesday, the rupee closed at its all time low of 72.98, falling 47 paise against the US currency due to surging crude oil prices and escalating trade war worries. Earlier in the day, the Indian currency hit a historic low of 72.99 in late afternoon deals.

While the Sensex rose 325 points to hit an intra day high of 37,738, the Nifty recovered 93 points to touch 11,380 level. Top gainers on the Sensex were Adani Ports (2.82%) , Sun Pharma (2.77%) and ITC  (2.59%).

The Reserve Bank of India (RBI) has highlighted that the fiscal deficit of all 29 Indian states would decline to 2.6 per cent of gross domestic product (GDP) as per their FY2019 Budget Estimates (BE), from 3.1 per cent of GDP as per their FY2018 Revised Estimates (RE).

Today, the market extended losses with the Sensex closing 509 points or 1.34% lower at 37,413. Nifty too fell 150 points or 1.32% to 11,287 level. The Sensex has lost nearly 1,000 points in the last two sessions in a rout triggered by the worsening trade data. The Nifty too has lost 300 points in the same period.

The Sensex has seen over 1% fall in the second straight session today for first time since February 2016. On Monday, the Sensex closed 467 points or 1.22% lower at 37,922, the Nifty fell 151 points or 1.30% to 11,438 level.

Brokers said weakness was seen in most Asian markets as investors were cautious amid fears of a possible escalation in the US-China trade conflict.

Sectorally, auto and banking stocks were the top losers with BSE auto index falling 248 points and BSE bankex losing 241 points. On Nifty, top losers were Bajaj Finance, Sun Pharma and Bajaj Finserv.

The weakening rupee against the US dollar and high crude-oil prices in the international market have swelled the current account deficit in the first quarter. The domestic currency has been Asia's worst performing currency so far this year

A closer look at the details of the GDP estimates shows that some worries remain and whether the 8 per cent plus can be maintained and bettered in the next several quarters will depend both on external factors as well as how well the government can manage its finances.

The figures mean India is the fastest growing economy in the world, and comes as a boost for Prime Minister Narendra Modi's government after demonetisation and GST had led to a slowdown in the economy.

The commerce and industry ministry is setting up two more task forces to plan the use of big data and artificial intelligence in government processes and chalk out the country's response to the changing trade dynamics.

Gross NPAs of banks may improve to 10% in March 2019 as resolution process picks up paceThe gross non-performing assets (GNPAs) of the banking sector is likely to improve to 10 per cent in March 2019, from 11.52 per cent as on June 30, 2018, as nearly 60 per cent of the bad loans of the sector are under active resolution, a report has said. The net NPA is also expected to decrease to 4.3 per cent, from 5.92 per cent as of June-end this year, ICRA said in its report. The rating age...

There are already clear signs of green shoots sprouting in pockets of local manufacturing in sectors as diverse as steel, auto, chemicals and energy.

The Sagarmala project has made huge progress in the last three years, but funding is a big constraint.

The highest ever growth rate since Independence was recorded at 10.2 per cent in 1988-89 when Rajiv Gandhi was Prime Minister.

Whatever be the source of tax - whether an MNC, a local homegrown company or an individual, the pivot for any successful tax compliance and collection is ensuring a sound set of data and an insight into the taxpayers' journey.

The stock is also part of ace investor Rakesh Jhunjhunwala's portfolio who holds 5.21 million equity shares or 3.69% stake as of June 30, 2018, the shareholding pattern data shows.

The consumer confidence survey was for the June round, and conducted in six metros - Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai and New Delhi and had 5268 responses.

An increase in use of sanitation equipments is expected to impact the toilet-related products and services market