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The government Friday told the Delhi High Court that the public interest litigation seeking lowering of goods and services tax rate on air purifiers from 18% to 5% was motivated and driven by an agenda that would open a Pandora's box for parties seeking a direction from courts to the GST Council in the future. The government said that it had a few concerns about the public interest litigation filed by advocate Kapil Madan, and sought time to file a detailed reply contesting the petition for convening a GST Council meeting to take up the issue of tax cut on air purifiers.

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The government is likely to keep the January sugar sales quota steady or increase it slightly from the previous month. Market participants told Informist that the sugar sales quota for next month will be 2.2-2.3 million tonnes, as demand is expected to improve due to festivals such as Makar Sankranti, Pongal and also the wedding season. Prices of the sweetener are likely to be range-bound due to ample availability as the crushing season is in full swing. The government is expected to announce the January sugar sales quota over the next two days.

Futures contract of gold and silver on the Multi Commodity Exchange of India hit fresh record highs on Friday, tracking gains on COMEX. Futures contracts of gold and silver on COMEX hit record highs earlier in the day due to a weak greenback and higher safe-haven demand. A weak dollar makes dollar-denominated commodities more appealing for other currency holders, boosting demand.

Prices rose amid ongoing geopolitical tensions between the US and Venezuela, as well as between Russia and Ukraine. US President Donald Trump intensified the US naval blockade of Venezuelan oil tankers. While Vene

Futures contracts of copper on the Multi Commodity Exchange of India rose to fresh all-time highs, tracking the jump in copper prices to record high levels on the London Metal Exchange. Prices rose as the dollar weakened and traders bought the industrial metal amid concerns over tighter global supplies in 2026.
Growing expectations of a rate cut by the US Federal Reserve next year also supported the dollar-priced metal. Typically, lower borrowing costs boost construction and manufacturing activities, aiding copper demand.

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