The prices of petrol and diesel have been constantly rising, pushing up the price of every commodity. Today, petrol costs almost Rs 56 a litre and diesel Rs 40 per litre (in Mumbai), having been increased by Rs 5 and Rs 3, respectively, on Wednesday.
Both TMC and CPI-M today walked out from Rajya Sabha opposing fuel price hike.
Nearly 45 per cent of the current retail price of petrol in Delhi is made up of taxes.
BJP-ruled Maharashtra levies 46.52 per cent VAT (47.64 per cent in Mumbai) on petrol, the highest in the country.
The 'black paper', titled '10 saal anyay kaal' also alleged that issues such as rising prices, unemployment, subversion of institutions and farmers' 'distress' had plagued the country.
Automaker Jeep India on Wednesday launched a locally assembled version of its premium SUV Wrangler in the country with introductory prices starting at Rs 53.9 lakh (ex-showroom). The company had started the production of the model at its Ranjangaon plant near Pune in February and is now ready for retail across the country. The locally-assembled Jeep Wrangler is available in two variants - the Unlimited and Rubicon, priced at Rs 53.9 lakh and Rs 57.9 lakh, respectively. Both variants come with a BS-VI compliant 2-litre turbo petrol powertrain, which produces 268 horsepower and 400 Nm of torque and comes mated with an 8-speed automatic gearbox.
Essar Oil has cut petrol and diesel prices by an average of Rs 1.50 a litre to bring them at par with that of public sector firms.
Centre and state governments are steadily increasing excise duties and value-added tax
Gandhi said the one paisa cut in petrol rates was not a "suitable response" to the fuel challenge he threw to the prime minister a few days ago.
"The UPA government showed its anti-people stance by increasing the prices of essential goods," said former AP chief minister Chandrababu Naidu.
Finance Minister Piyush Goyal: 'I hope the Congress governments and other states like West Bengal, Odisha, Tamil Nadu, Andhra, Telangana will support our effort to bring petrol and diesel into the GST regime.'
The common man was bearing the brunt of the escalating prices of petrol, diesel and cooking gas, the Congress said.
'Those who feared that I would have run one hell of a campaign targeting the most powerful people in India snatched away my democratic right from me.' 'I will expose these democracy-killers.'
According to a report by rating and research agency CRISIL, it now takes six years to recover the premium-between Rs 100,000 on small cars and Rs 300,000 on luxury sedans-paid for diesel variants.
The Union government on Thursday ruled out any increase in the prices of petrol and diesel despite the surge in global crude prices.
It is the seventh reduction in jet fuel rates since August
A 'White Paper' versus 'Black Paper' battle erupted on Thursday as the Centre and the Congress unveiled documents and crossed swords over the handling of the Indian economy during the nearly 10 years of the BJP-led NDA rule and the previous 10-year tenure of the Congress-led UPA government.
Basket of crude up 6%, while rupee has depreciated nearly 14% leading to losses
Prices have declined 18 per cent this year.
Ford launches all-new Figo, price starts at Rs 4.29 lakh.
The three government oil marketing companies, Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum, are losing Rs 320 crore a day as they sell at subsidised rates.
Flagging higher fuel prices in many opposition-ruled states, Prime Minister Narendra Modi on Wednesday called it "injustice" to people living there and urged the governments there to reduce VAT in "national interest" to benefit the common man. Modi raised the issue of many states not adhering to the Centre's call for reducing the Value Added Tax (VAT) on petrol and diesel after his government slashed excise duties on them in November last, and asked them to work in the spirit of cooperative federalism in this time of global crisis. Higher prices in some states were also harmful for neighbouring states, he added.
Tata Motors plans to set up separate sales network for its electric passenger vehicles in current fiscal year as it looks to give differentiated experience to the buyers opting for the environment-friendly models, according to a top company official. The Mumbai-based auto major, which on Thursday introduced all-new versions of its Nexon EV and Nexon (internal combustion engine), said it will start experimenting with new outlets in some of the cities where EV volumes have gone up. "We'll have to separate them (sales outlets for EVs and ICE) given that we have different requirements of customers and also a growing portfolio (of EVs)" Tata Motors Passenger Vehicles managing director Shailesh Chandra told PTI in an interaction.
'Will Imran compromise with the army? We are all human beings. We all compromise.'
Public-sector oil retailers are projected to lose Rs 45,571 crore on selling petrol, diesel, domestic LPG and kerosene below cost.
The Congress on Monday stepped up its attack on the BJP-led Centre over the issue of price rise with Rahul Gandhi saying the biggest problems facing the country were unemployment, inflation and growing hatred.
Leader of Opposition Mallikarjun Kharge, speaking on the Motion of Thanks on the President's address, charged the government with not delivering on its various promises, including generating two crore jobs per year.
International crude oil prices crossed the $60 a barrel mark yesterday--up from a record low of $32.40 in December last year--on the back of improved sentiment over the economic recovery, especially in China and Europe.
The hikes, effective from midnight tonight, are excluding state sales tax or VAT and actual increase will be higher and will vary from city to city
The Finance Ministry on Thursday expressed hope that domestic diesel prices will soon become market linked in the backdrop of softening global crude oil rates.
Sources said both Mukherjee and Deora were in favour of Rs 2-3 a litre hike in petrol and diesel prices and Rs 25 per cylinder increase in LPG rates.
The finance minister has labelled about 65 per cent of the fuel excise revenue as cess, including the restructured road and infrastructure cess
Congress leader Rahul Gandhi on Wednesday slammed the government over the rising price of domestic cooking gas, diesel and petrol, and alleged that an amount of Rs 23 lakh crore has been earned by increasing prices of these commodities in the last seven years.
The German carmaker will hike prices of its best selling cars in Indiafrom February citing increased inputs costs and changes in the exchange rate.
The ever-astute Ravi Matthai, Director of Indian Institute of Management, Ahmedabad in 1971, offered me a basic salary of Rs 1,000 per month on my return from the United States. I doubt if IIMA could hire a faculty member at Rs 55,000 per month today! points out Dr Shreekant Sambrani.
The logic of deregulation was that the consumer was protected no matter what the price of crude. But now the reverse has happened. The government is protected no matter what the price of crude, observes Aakar Patel.
Diesel likely to get cheaper in New Delhi
All guns blazing, Modi on Saturday mounted a scathing attack on the Congress over corruption, and asserted it will become "Punjab, Puducherry, Parivar" Congress after its defeat in the Karnataka assembly polls.
The all-new Scorpio N will not have any component from the current Scorpio, which will now be sold as the Scorpio Classic, reports Rajesh Karkera.
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