India has decided to release five million barrels of crude oil from its strategic petroleum reserves (SPRs) simultaneously with countries like the US, Japan, China and Republic of Korea. The decision has come amid reports that the US has urged these nations to release crude oil from their respective reserves. The move is being considered to bring down global fuel prices.
The government today also released two instalments of tax devolution to states totaling Rs 95,082 crore, as a step towards boosting investment in the infrastructure sector. Meanwhile, government will release about five million barrels of crude oil from its emergency stocks in tandem with other major economies to cool prices.
In stock markets today, shares of data analytics firm Latent View Analytics opened for trading at a 160 per cent premium from its issue price of Rs 197 and Indian equity benchmarks snapped their four-day losing streak paced by gains in metal,…
