Moneycontrol Selects: Top stories this evening

Here are the most interesting articles of the day (Representative image)

Here are the top stories this evening:

Growth of 7–7.5% this year not bad, inflation could persist: EAC-PM chairman

Real gross domestic product growth of 7 to 7.5 percent this year would be somewhat satisfactory, according to the chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), Bibek Debroy, who was citing various agencies’ estimates.

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Sensex, Nifty close in the red again; Fed meet outcome awaited

Indian benchmark indices ended lower on June 15, continuing their losing streak for the fourth consecutive session with market participants waiting for the Federal Open Market Committee (FOMC) meeting decisions expected later in the day.

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Direct tax collections so far this fiscal rise 53.2% to Rs 2.58 lakh crore

The net direct tax collections, which include income tax and corporate tax, reached Rs 2.58 lakh crore as of June 14 in financial year 2022-23 against Rs 1.86 lakh crore YoY, according to a CNBC-TV18 report, reigniting hopes of sustained economic recovery, despite inflationary concerns and the disruption caused by geopolitical tensions. The net direct tax collection has increased by around 53.2 percent from April 1 to June 14 over the year-ago period.

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Inflation not just India-based, will hurt if global fuel prices don't come down, says HUL Sanjiv Mehta

The current spell of inflation, highest in over a decade in terms of wholesale prices, is a "cause of concern", FMCG major Hindustan Unilever Ltd (HUL) chairman and managing director Sanjiv Mehta has said. Speaking to CNBC-TV18 on June 15, Mehta said rising prices were not a home-grown challenge but a "global phenomenon".

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Crypto crash leaves investors in a tizzy. What should their next move be?

They had a phenomenal rise in 2021-22, but Bitcoin, Ethereum and other cryptocurrency prices have since crashed. Savvy investors can adjust to this volatility, but new ones, who took a fancy to cryptocurrencies because of their past returns, have their work cut out. Let’s look at reasons for the price crash and investment strategies for existing and new crypto investors in the current market conditions.

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Disney+ Hotstar could lose 15 million subscribers after losing IPL digital rights

Walt Disney's video streaming service Disney+ Hotstar could face a significant impact on its 50-million subscriber base after it was outbid by Viacom18 to secure the consolidated digital streaming rights for the Indian Premier League (IPL) tournament.

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Embedded value determination expected to be completed by June end: LIC Chairman MR Kumar

Talking about the delay in declaring its embedded value (EV) - an important metric that indicates an insurance company’s performance - for the September-March period, LIC Chairman MR Kumar said the delay is due to LIC implementing a new IT solution for the calculation of EV, and that exercise of determining its embedded value as on March 31, 2022, is likely to be completed by the end of June.

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