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Tuesday, Jun 10, 2025
Adding to the challenges, there has been shortage of parts triggered by piling up of containers at Shanghai port due to strict lockdown in the city following the surge in COVID-19 cases.
The local currency also touched its record intra-day low of 77.63 to a dollar as losses in domestic stocks, concerns over weak growth, and persistent forex outflows negated the impact of a fall in crude oil prices.
Forex traders said risk appetite has weakened amid rising bond yields in the US and mounting concerns about inflation that may trigger more aggressive rate hikes by global central banks.
Criticising the proposed hike in GST rates, Congress slammed the government for putting an additional burden on the common man who is already reeling under price rise.
The new rates will be applicable from April 1.
The additional instalment will be effective from January 1, 2022.
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