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Today's top news include RBI's caution on state sops, Dabur's suit against Patanjali, stock market decline, and more.
The RBI's December bulletin warns that state sops in this year's budget could divert resources from essential social and economic infrastructure development.
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The government has not imposed any new tax on sale of used vehicles including electric vehicles, persons privy to the development told NDTV Profit. The single rate of 18% decided by the GST Council for sale of used vehicles was only aimed at removing ambiguity, as the resale of vehicles earlier attracted different tax rates, the sources clarified.
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Dabur India Ltd. moved the Delhi High Court on Tuesday, seeking to restrain Patanjali from running misleading advertisements featuring its founder Baba Ramdev, allegedly to disparage its Chyawanprash product.
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India's benchmark stock indices resumed its declining trajectory on Tuesday after a one-day rise. The NSE Nifty 50 ended 25.80 points or 0.11% down at 23,727.65 and the BSE Sensex settled 67.30 points or 0.1% lower at 78,472.87.
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The Ministry of Statistics and Programme Implementation sought public comments on treatment of freely distributed food in retail inflation calculations.
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Reliance Industries Ltd. has fallen over 23% from its highest point which it reached in July this year. In the meanwhile Tata Consultancy Ltd. and HDFC Bank Ltd. are quickly catching up to dethrone the conglomerate from its top spot.
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The ICC on Tuesday announced the fixtures and the groupings for the upcoming Champions Trophy 2025. The highly anticipated India versus Pakistan clash is on Feb. 23.
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