The Indian government has revised its windfall tax on fuel exports, increasing the levy on petrol exports to Rs 2.5 per litre while cutting the duty on diesel exports to Rs 8.5 per litre, effective October 16.
Civil Aviation Minister K Rammohan Naidu announced that the government will not impose a cap on airfares during the upcoming festive season. Instead, airlines will be advised to maintain reasonable prices, considering the rising operating costs primarily due to increased Aviation Turbine Fuel (ATF) prices, exacerbated by the West Asia crisis.
India has significantly reduced Aviation Turbine Fuel (ATF) prices for international airlines by 27% due to easing global fuel benchmarks, while simultaneously increasing commercial LPG and 5-kg cylinder prices to record highs.
Civil Aviation Minister Kinjarapu Rammohan Naidu stated that no decision has been made regarding allowing Delhi and Mumbai airport operators to own and run airlines, as the government is carefully considering the implications of relaxing cross-ownership restrictions, including potential conflicts of interest and the need for more airlines.
The Indian government has increased the export duty, or windfall tax, on diesel to Rs 55.5 per litre and on aviation fuel (ATF) to Rs 42 a litre, effective immediately, to boost domestic availability and prevent exporters from exploiting global price differences.
The Indian government has imposed a new windfall gains tax of Rs 3 per litre on petrol exports, while simultaneously reducing the levy on diesel to Rs 16.5 per litre and aviation turbine fuel (ATF) to Rs 16 per litre, effective May 16.
Indian tennis legend Leander Paes has been appointed Player Ambassador of the Asian Tennis Federation (ATF). In this role, Paes will work to promote tennis across Asia, mentor young players, support grassroots development, and represent the federation at international events, aiming to inspire the next generation of athletes.
The support will be provided to oil-marketing companies (OMCs) in the form of interest-free advances through the ministry of petroleum and natural gas. The OMCs, in turn, will use the fund to provide ATF price stabilisation support to Indian carriers operating domestic and international flights.
Akasa Air, despite facing headwinds from the West Asia conflict and rising aviation turbine fuel prices, expects to maintain a 30-40 per cent growth trajectory over the next five years and aims for an initial public offering (IPO) within two to four years, according to CFO Ankur Goel.
Air India, IndiGo and SpiceJet have told the government that the country's airline industry is under extreme stress and on the verge of "stopping operations", as they sought revision in ATF pricing and financial support.
Indian wedding bookings to Sri Lanka are projected to grow 20-25 per cent annually over the next few years.
Air India has deferred annual salary increments for its staff by at least one quarter and urged a "relentless focus on costs" due to external headwinds like the closure of Pakistan airspace, West Asia conflict, rupee depreciation, and a significant surge in aviation turbine fuel prices, though the airline has assured there will be no layoffs.
As India marks a decade of the Goods and Services Tax (GST), the focus is shifting towards enhancing efficiency through artificial intelligence, data sharing, and process simplification. The reform, which unified India's indirect tax system, has significantly broadened the tax base and boosted revenues, with future plans including a streamlined two-tier rate structure and continued technological integration to reduce compliance costs and combat evasion.
Nayara Energy, India's largest private fuel retailer, has reduced petrol prices by Rs 5 per litre and diesel by Rs 3 per litre nationwide, marking the first such cut in over two years. This reduction follows easing tensions in West Asia and stabilised international crude oil prices, though public sector retailers have not yet followed suit.
Aviation fuel prices for domestic airlines remain unchanged, providing stability for local carriers, while commercial LPG and 5-kg cylinders see a significant rate hike due to rising international energy costs.
Aviation Turbine Fuel (ATF) prices have more than doubled to a record high, impacting airlines and consumers, while commercial LPG rates also see a significant increase.
Air India group announces fuel surcharges on domestic and international flights due to rising Aviation Turbine Fuel (ATF) prices, following the government's decision to cap domestic ATF price hikes.
Civil Aviation Minister K Rammohan Naidu announced that public sector oil marketing companies will implement a partial and staggered increase in jet fuel prices for domestic airlines, aiming to protect passengers from steep fare hikes.
Civil Aviation Minister Ram Mohan Naidu said the reduction in airport charges is aimed at containing airfare increases and supporting both airlines and passengers.
Indian carriers have cancelled over 10,000 flights since the onset of the West Asia conflict, as escalating tensions and airspace restrictions disrupted international operations, a senior government official said.
Air India and Air India Express are introducing a fuel surcharge on domestic and international flights due to rising jet fuel prices, impacting travel costs for passengers.
The price of jet fuel (ATF) was sharply increased by 7.5 per cent on Tuesday, while the cost of LPG used in commercial establishments was reduced by Rs 58.50 per cylinder, reflecting shifts in international benchmark rates. After three rounds of price cuts, aviation turbine fuel (ATF) price was increased by Rs 6,271.5 per kilolitre, or 7.5 per cent, to Rs 89,344.05 per kl in the national capital - home to one of the busiest airports in the country, according to state-owned fuel retailers.
Petrol and diesel prices in India have seen their fourth increase in less than two weeks, pushing cumulative hikes to nearly Rs 7.5 per litre since May 15, reaching their highest levels since May 2022. This surge, driven by global crude oil costs and the Iran conflict, is expected to exacerbate inflationary pressures and raise transportation costs across the economy.
The Indian government has increased measures to secure fuel and gas supplies following the Strait of Hormuz closure, urging citizens to avoid panic buying. Refineries are operating at high capacity, and sufficient stocks of petrol and diesel are available nationwide.
The government has sharply reduced excise duty on petrol to 3 and diesel to zero, offering major relief to consumers. Here's how the price cut will impact fuel rates and inflation.
Airfares to Southeast Asia have surged 25 to 30 per cent, driven by high demand and limited airline seat capacity.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
Nath's comments came amid the Congress party's continuous attack on Centre for the recent hike in commercial LPG cylinders and the Aviation Turbine Fuel (ATF).
Patel has previously worked at the justice department as a trial attorney for three years before taking on roles at the National Security Council, the office of the director of National Intelligence, and the department of defence, the report said.
The Indian government has waived customs duty on critical petrochemical products until June 30 to ensure supply stability and provide relief to consumers amid disruptions caused by the crisis in West Asia.
The Rajya Sabha witnessed a heated debate between the opposition and the government regarding a discussion on the West Asia crisis, with accusations of political maneuvering and failure to uphold the dignity of parliamentary positions.
IndiGo operator InterGlobe Aviation had a mildly encouraging third quarter in financial year 2026 (Q3FY26).
The Indian government is considering additional relief packages for vulnerable sectors like MSMEs to mitigate the impact of the ongoing West Asia crisis on the economy and inflation.
India is well-stocked with inventories of crude oil and key petroleum products, including petrol, diesel, and aviation turbine fuel (ATF), to deal with short-term disruptions as the war intensifies in West Asia, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday.
Analysts predict India will face oil price volatility and macroeconomic effects due to the escalating Iran crisis, though the country's oil supply chain is not yet structurally insecure.
India and the European Union (EU) on Tuesday announced the conclusion and finalisation of negotiations for the proposed free trade agreement (FTA).
Jet fuel or ATF price on Wednesday was cut by almost 6 per cent after four rounds of monthly increases since July, while commercial cooking gas (LPG) rates were raised by a steep Rs 101.5 per 19-kg cylinder in line with international benchmarks. However, the price of domestic LPG - used in household kitchens for cooking purposes - remained unchanged at Rs 903 per 14.2-kg cylinder. Aviation turbine fuel (ATF) price was cut by Rs 6,854.25, or 5.79 per cent, in the national capital to Rs 111,344.92 per kl from Rs 118,199.17, according to a price notification of state-owned fuel retailers.
New Zealand Prime Minister Christopher Luxon on Monday said the negotiations for a free trade agreement with India have been concluded.
The government has cut the windfall profit tax on crude oil produced in the country while the levy on exports of diesel and ATF has been hiked, an official notification said. The tax, levied in the form of special additional excise duty or SAED, on domestically produced crude oil was reduced to Rs 6,700 per tonne from Rs 7,100 a tonne. SAED on the export of diesel was increased to Rs 6 per litre from Rs 5.50 a litre and on jet fuel or ATF to Rs 4 per litre from Rs 2, the notification said.
'This festival season, advance airfares for major metros are up 20 to 25 per cent from last year.'
