The Trump administration has no plans to cap H-1B work visas for nations that force foreign companies to store data locally, the State Department said on Thursday.

Reuters reported on Wednesday that the United States had told India it was considering restricting the H-1B visa programs for countries with the data storage requirement. The H-1B program issues U.S. visas to skilled foreign workers.

The Centre is considering increasing the personal income tax threshold in next month’s budget, according to people familiar with the matter, as authorities seek to kickstart consumption in the economy.

Finance Minister Nirmala Sitharaman may raise the tax exemption limit for working-age individuals to Rs 300,000 ($4,316) of their annual income, up from the current Rs 250,000, the people said, asking not to be identified as they aren’t authorised to speak publicly about the proposals.

Standard gold price in India on Thursday recorded the highest single-day gain of 2.21 per cent in recent years, following a sharp spurt in its prices in global markets on the US Fed’s dovish stance on economic growth in the United States.

The data compiled by the India Bullion and Jewellers Association (IBJA) showed standard gold price at Rs 33,559 per 10 gm in Zaveri Bazaar here on Thursday, barely 0.3 per cent lower than the all-time high of Rs 33, 716 in February this year. On Wednesday, Standard gold price in Zaveri Bazaar was Rs 32,851 per 10 gm.

India's benchmark 10-year bond yields dropped to their lowest in 20 months on Thursday after the US Federal Reserve signalled possible interest rate cuts later this year, while buying from state-run banks also aided.

The benchmark 10-year bond yield was at 6.75 per cent, as of 0345 GMT, its lowest level since Oct. 17, 2017, and down 9 basis points from its previous close.

Mumbai: Domestic equity benchmark BSE Sensex dropped over 150 points on Thursday, dragged by losses IT stocks, despite strong global cues.

The 30-share index, however, pared some losses and was trading 34.59 points, or 0.09 per cent, lower at 39,078.15 at 0930 hours. Similarly, the broader NSE Nifty was quoting 23.45 points, or 0.20 per cent, down at 11,668.

New Delhi: India has issued draft rules to exempt electric vehicles from paying registration fee, the government said in a statement on Wednesday, as it looks to cut its dependence on fossil fuels.

The government has been pushing to boost the adoption of electric vehicles, as it tries to bring down its oil imports and curb pollution so it can meet its commitments as part of the 2015 Paris climate change treaty.

Yes Bank shares fell as much as 4.3% to ₹98.75 on BSE today, extending their bear run after credit agency Moody's put the company under review for a downgrade. This is the first time in five years that Yes Bank share prices are down to double digits. Analysts have been downgrading Yes Bank’s stock on concerns over further deterioration in asset quality.

Satara (Maharashtra): An earthquake measuring 4.8 on the Richter Scale rattled Satara district of Maharashtra on Thursday morning, the Indian Meteorological Department (IMD) said.

The quake struck at around 7:47 am with the depth of 10 km.

ONGC Videsh, Oil India and Bharat Petroleum Corporation along with operator US-based Anadarko Petroleum and other partners announced the final investment decision (FID) of $20 billion for Rovuma Offshore Area-1 Mozambique LNG project.

The investment will go towards construction of a gas liquefaction and export terminal and the project will initially consist of two LNG trains with a total nameplate capacity of 12.88 million tonne per annum,

Mahindra & Mahindra (M&M) will increase the prices of its passenger vehicles (PVs) by up to Rs 36,000, effective July 1, on account of new safety features provided to comply with the automotive industry standard (AIS) 145 norms.

As per the AIS 145 norms, cars will have to be equipped with safety features, including overspeed alert, seat belt warning, airbags, speed warning and reverse parking assist.

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