https://www.taxtmi.com/news?id=73799 The rupee depreciated against the US dollar amid higher crude oil prices, renewed geopolitical concerns and increased demand for safe-haven dollar assets. Rising crude prices increased India's dollar-denominated import burden and contributed to foreign exchange outflows and pressure on the domestic currency. India's exports increased year-on-year in June, but the trade deficit widened as imports, particularly crude oil imports, rose. Wholesale price inflation also increased, while net direct tax collections recorded year-on-year growth, primarily reflecting higher corporate tax collections. en-us Tue, 14 Jul 2026 16:16:03 +0530 Tue, 14 Jul 2026 16:16:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=73799 The rupee depreciated against the US dollar amid higher crude oil prices, renewed geopolitical concerns and increased demand for safe-haven dollar assets. Rising crude prices increased India's dollar-denominated import burden and contributed to foreign exchange outflows and pressure on the domestic currency. India's exports increased year-on-year in June, but the trade deficit widened as imports, particularly crude oil imports, rose. Wholesale price inflation also increased, while net direct tax collections recorded year-on-year growth, primarily reflecting higher corporate tax collections. News - Tue, 14 Jul 2026 16:16:03 +0530 https://www.taxtmi.com/news?id=73799