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  New Delhi: Retail inflation in India cooled to its lowest level in over six years in May, helped by a sharp moderation in food prices, according to provisional government data released Thursday.Consumer Price Index (CPI)-based inflation eased to 2.82% year-on-year, down from 3.16% in April and 4.8% in May last year, data from the Ministry of Statistics and Programme Implementation (MoSPI) showed. This marks the fourth consecutive month of sub-4% inflation, the longest such streak in at least five years.The data comes just days after the Reserve Bank of India’s (RBI) Monetary Policy Committee cut the repo rate by 50 basis points to 5.5%, its third straight cut and a cumulative reduction of 100 basis points since the easing cycle began in February. The move signals a possible pivot from inflation control to supporting growth.Food inflation came in at just 0.99% in May, down from 1.78% in April and a sharp decline from 8.69% a year ago.A Mint poll of 15 economists had projected CPI ...

Since the new tax regime is the default tax regime, filing income tax return (ITR) under the old regime would require you to switch from the new tax regime. However, before you do that  -- it is imperative to be aware of certain key rules which govern the switch.Notably, the rules with regards to switching of tax regime depend on the source of income of taxpayers: salary or business/ profession.Which tax regime to choose?Taxpayers can file tax return under the old tax regime if they believe that this would lead to some amount of tax saving. On the other hand, if filing tax return under the new tax regime is profitable then naturally, one would opt for the default regime.What rules apply to salaried employees?Salaried taxpayers can switch the tax regime from old to new and vice versa every year.There is no restriction on salaried employees with regards to switching between the two tax regimes as they can do it every year. However, the same flexibility is not available for persons wh...

  JioBlackRock Mutual Fund has filed draft documents with SEBI for two debt funds — a liquid fund and a money market fund.JioBlackRock Liquid Fund.JioBlackRock Liquid Fund will be an open-ended liquid scheme with relatively low interest rate risk and relatively low credit risk. The scheme will be benchmarked against the Nifty Liquid Index A-I.The investment objective of the scheme is to generate regular income through investment in a portfolio comprising money market and debt instruments with residual maturity of up to 91 days.It is suitable for investors seeking regular income over a short-term investment horizon and aiming to generate returns by investing in money market and debt instruments with a maturity of up to 91 days.It is suitable for investors seeking regular income over a short-term investment horizon and aiming to generate returns by investing in money market and debt instruments with a maturity of up to 91 days.The scheme will offer only a direct plan, and the plan sh...