Prime Minister Narendra Modi on Tuesday laid the foundation stone for a rail coach refurbishing factory, saying the project will create employment and boost industrial development in Haryana.
Prime Minister Narendra Modi Tuesday laid the foundation stone for a rail coach refurbishing factory, saying the project will create employment and boost industrial development in Haryana.
By 2030, Our 40% Power Capacity Will Be From Non-fossil Fuel Based Resources, Says Pm Narendra Modi In Uttarakhand
Prime Minister Narendra Modi on Sunday at Dehradun, Uttarakhand, announced the decision of the government targeting 2030 to generate a capacity of 40 per cent power from non-fossil fuel based resources.
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).
As petrol and diesel climbed to all-time highs, the central government finally reduced excise on fuel by Rs 2.50 and appealed to states to do the same. The government said that it would take a Re 1.50 hit on every litre of fuel sold and oil marketing companies would lose Re 1.
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.
In an attempt to ease the pressure of rising fuel prices on the common man, the Centre announced a rate cut of Rs 2.50 per litre for diesel and petrol on Thursday. Following the announcement made by the government, four BJP-ruled states – Maharashtra, Gujarat, Chattisgarh, Uttar Pradesh and Tripura – also reduced the fuel prices by Rs 2.50 per litre.
Prime Minister Narendra Modi courted global fame when the United Nation Secretary General Antonio Guterres presented him its highest environmental honour ‘Champions of The Earth Award’ at a special ceremony today.