The railways have eliminated a large number of unmanned level crossings over broad gauge lines as it stepped up its drive to enhance safety across the network.
The excise cut on rising fuel prices comes as a respite. Finance Minister Arun Jaitley said that the Centre will would cut Rs 1.50 in excise duty on fuel while an additional Re 1 will be absorbed by the oil marketing companies (OMCs).
Centre Gives Rs 2.50 Per Litre Relief on Petrol, Diesel; Some States Announce Additional Rs 2.50 Cut
Government has announced a relief of Rs 2.50 on petrol and diesel to consumers at a time when the Brent crude has touched $86 per barrel and there is uncertainity in the international crude oil market.
The excise cut on rising fuel prices comes as a respite. Finance Minister Arun Jaitley said that the Centre will cut Rs 1.50 in excise duty on fuel while an additional Re 1 will be absorbed by the oil marketing companies (OMCs).
In a commentary earlier this week (Why no tax relief on oil imports is Modi’s smart move), we had argued that the government should not, despite bad headlines on oil prices, cut the Centre’s fuel taxes, and ask instead state governments to reduce their ad valorem taxes on petrol and diesel. Just an hour back, Finance Minister Arun Jaitley announced that while the Centre will advice states to cut their ad valorem taxes to the effect of Rs 2.50, it will also be effect a Rs 1.50 cut in Central taxes and ask oil marketing companies (OMCs) to absorb another Rs 1 cut. The cumulative impact, if states follow through, will be Rs 5 cut in retail prices.
CII on Monday said that it expects India’s economy to grow at 7.3-7.7 per cent in 2018-19
Pakistan warned on Friday that water issues with India can lead to a dangerous situation and that Islamabad wants a peaceful resolution of such problems as per the spirit of the 1960 Indus Waters Treaty (IWT).
Companies that install solar-power systems for homeowners and utilities are bracing for Trump’s call on whether to slap tariffs on imported panels.
Flagship explorer ONGC will retain Hindustan Petroleum as an independent group arm and continue with the company’s brand after acquiring the government’s stake in the country’s third-largest state-run refiner-retailer.
In an interview with ET Now, Shashi Shanker, CMD, ONGC, points out that ONGC is an upstream company whose top line and bottom line moves in tandem with crude oil price while reverse is the case for downstream companies like MRPL and HPCL. Together, this is going to provide a stable income and also higher risk appetite.