Nationalist Congress Party leader Sunetra Pawar on Tuesday took charge as Maharshtra's deputy chief minister, a fortnight after her husband Ajit Pawar died in an air crash.
The Supreme Court held that Pepsi Foods was liable to pay duty to the government from the royalty it collected from bottlers for using the brand name "Lehar" in addition to the excise duty it pays on the income from sale of the beverage concentrate.
The Indian government has doubled the daily quota of market-priced 5-kg LPG cylinders for migrant workers to ensure stable fuel supplies amidst global disruptions. This move prioritises household cooking gas and addresses the needs of migrant workers who often lack regular connections.
In the wake of recent hike in airline fares owing to rise in aviation turbine fuel prices, the Civil Aviation Minister Praful Patel on Thursday met Union Finance Minister P Chidambaram and sought reduction in excise duty on the fuel in the Budget.
Leaving direct taxes untouched, Finance Minister P Chidambaram today slashed excise duty on cars, SUVs and two-wheelers, and capital goods and consumer durables to boost manufacturing and growth.
Govt had raised excise duty on petrol and diesel on Nov 12.
Haryana Chief Minister Nayab Singh Saini has accused the opposition of misleading farmers regarding crop procurement, assuring that all produce will be purchased and that the government is addressing any difficulties in grain markets.
Prime Minister Narendra Modi held a virtual meeting with chief ministers to review preparedness and plans in light of the West Asia conflict, emphasising the importance of national unity and enhanced security measures.
Vehicle sales across categories registered an increase of 5.03 per cent to 16,03,292 units from 15,26,514 units in November 2013.
But when it comes to e2W, China is the dominant player and had grabbed over 76 per cent share of total e2W imports in 2025 with brands like Yadea, NIU and Sunra dominating the market.
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.
India is the second largest buyer of Iranian crude, after China.
Higher excise duty at 12 per cent would have negative impact on pesticides manufacturers.
'At the first sign of real trouble, that money will move. There will be a run.'
Around 24 paise will come from borrowings and other liabilities, 10 paise from non-tax revenue like disinvestment, and 2 paise from non-debt capital receipts, the Budget documents showed.
A one rupee per litre cut in taxes would result in revenues being hit by Rs 30,000 crore on an annualised basis.
The panel will look into issues related to compliance procedure.
Newly-appointed Maharashtra Deputy Chief Minister Sunetra Pawar has been allocated the portfolios of State Excise Duty, Sports and Youth Affairs and Minorities Development and Aukaf.
India significantly increased piped natural gas (PNG) connections in March as the government accelerates the expansion of cleaner fuel networks amid global supply disruptions.
Customs and excise tariff reforms are still pending.
While the surcharge on super-rich would help garner additional income of around Rs 12,000 crore this fiscal on the direct tax side.
Haryana Chief Minister Nayab Singh Saini has launched development projects worth 253 crore in Jind district, focusing on irrigation, infrastructure, health, and water supply.
S&P Global Ratings warns that Indian oil marketing companies like IOC, BPCL, and HPCL may face reduced profit margins due to rising crude oil prices and government pressure to maintain stable retail prices.
The excise duty cuts on diesel and petrol will cost Rs 45,000 crore and lead to a 0.3 percentage point widening on the Centre's fiscal deficit, a foreign brokerage said on Thursday. Going by the overall consumption, the costs of the surprise move - which came after months of concerns over high payouts at filling stations - for the entire fiscal will come at Rs 1 lakh crore or 0.45 per cent of GDP, economists at Japanese brokerage Nomura said in a report. For the remaining months of the ongoing FY22, the cost will come at Rs 45,000 crore, which leads to an upward review of the fiscal deficit target.
Analysts warn that global markets are significantly underpricing the risk of an oil price shock, with Brent crude potentially soaring to $150 per barrel if the West Asia conflict escalates or damages critical oil and gas infrastructure. This could lead to severe inflation and economic repercussions, particularly for import-dependent nations like India.
Industry body Assocham has asked the government to retain both excise duty and service tax at existing rate of 10 per cent in the Budget for 2012-13.
On the lines of the proposed Direct Taxes Code (DTC), the government plans to come out with a Common Tax Code (CTC) for service tax and central excise duty to harmonise the two indirect levies.
The Aam Aadmi Party (AAP) has requested the Rajya Sabha secretariat to remove Raghav Chadha as the party's deputy leader in the House, proposing Punjab MP Ashok Mittal as his replacement, amidst Chadha's absence from key party events and prolonged silence on AAP matters.
Revenue collection next financial year may be affected, and, along with this, subsidies on food and fertilisers can go up if the war in West Asia drags for long, according to experts.
After the last Budget's announcement of a major tax relief for those earning an annual salary of less than Rs 12 lakh, there is not much that individuals can look forward to in the forthcoming Budget, points out A K Bhattacharya.
From the 30-Sensex firms, ITC tanked 9.69 per cent, following Bajaj Finance, Asian Paints, Bharat Electronics and ICICI Bank. In contrast, NTPC, Eternal, Mahindra & Mahindra, Larsen & Toubro and Power Grid were among the gainers.
Software giant Microsoft's representatives will soon meet finance ministry officials trying to persuade them to impose excise or countervailing duty instead of service tax on packaged software.
Petrol and diesel prices on Tuesday touched fresh highs as rupee dipped to a record low of 71.54 against US dollar, making imports costlier
Cigarette-to-soap conglomerate ITC on Thursday reported a consolidated net profit (attributable to owners) of Rs 4,931.19 crore for the third quarter (October-December/Q3) of 2025-26 (FY26), affected by a one-time provision related to the new labour codes and a base effect from an exceptional item in Q3 of 2024-25. In the year-ago period, net profit had stood at Rs 4,934.8 crore.
Households should moderate large discretionary expenses for the time being.
'They should prioritise essential spending. They should maintain an emergency fund covering 6 to 12 months of expenses.'
India's new manufacturing project announcements more than halved in the fourth quarter of FY26, falling 60 per cent sequentially and 78 per cent year-on-year to approximately 1.7 trillion, driven by global uncertainties, geopolitical conflicts in West Asia, and existing unutilised manufacturing capacity.
InterGlobe Aviation, the operator of IndiGo, has approached the Delhi high court seeking a refund of over Rs 900 crore it claims to have paid as Customs duty on aircraft engines and parts re-imported into India after overseas repairs. The petition came up for hearing on Friday before a bench of Justices Prathiba M Singh and Shail Jain.
The Kerala High Court has overturned a single judge's order that had put a 15-day hold on the screening of 'The Kerala Story 2-Goes Beyond,' paving the way for the film's release.
Cooking gas or Liquified Petroleum Gas (LPG) price has been raised by Rs 50 per cylinder by distribution companies, Union Oil Minister Hardeep Singh Puri said on Monday.
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