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 report said ships must submit full documentation, obtain clearance codes and accept IRGC-escorted passage through a designated corridor.
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.
Indian airlines are now required to offer 60% of seats for free and ensure families sit together, as the government strengthens passenger rights and addresses concerns about high seat selection fees.
State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) are reportedly incurring losses of Rs 18 per litre on petrol and Rs 35 per litre on diesel, as they continue to absorb rising crude oil costs without increasing retail prices. This situation is leading to expectations of a fuel price hike after upcoming state elections.
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.
An analysis of Nitish Kumar's tenure as Chief Minister of Bihar, highlighting his contributions to development and social justice alongside controversies and political shifts.
Lahore Qalandars have fined captain Shaheen Shah Afridi after Punjab police accused him of breaching security protocols at the team hotel.
IndiGo, Air India, and SpiceJet are opposing the government's directive to offer 60% of seats for free selection, arguing it will lead to increased airfares to compensate for lost revenue.
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.
One of the most uncivilised characteristics of this war has been the total disregard for international law and the laws of armed conflict, asserts Vice Admiral Biswajit Dasgupta (retd).
Punjab Chief Minister Bhagwant Mann criticised BJP leaders for blaming his government for the blast outside the BJP headquarters in Chandigarh, emphasising that the area falls under the Union Territory's administration. He also addressed other issues, including taxes and farmers' concerns.
Small parties have the capacity to play both ends against the middle. Puducherry could be heading that way, points out Aditi Phadnis.
Which countries possess populations of people with the most self-love?
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.
The GST Council at its next meeting may consider a reduction in taxes on air and water purifiers as air quality across the country worsens and access to safe drinking water remains uneven.
The tax is collected by brokers on behalf of the government and forms a key component of the Centre's tax revenues.
The Comptroller and Auditor General of India (CAG) has reported significant financial irregularities in the Union government's FY25 accounts, including ~12,754.47 crore in misclassification and ~54,282.32 crore in outstanding utilisation certificates, with some dating back to 1985-86.
India significantly increased piped natural gas (PNG) connections in March as the government accelerates the expansion of cleaner fuel networks amid global supply disruptions.
Indian equities trading activity saw a moderation in FY26, with cash market turnover declining and derivatives growth remaining subdued due to regulatory tightening and weak market performance. Further impacts are expected from new RBI norms and a hike in Securities Transaction Tax (STT).
Pakistan has significantly increased the price of high-octane fuel, impacting luxury vehicle owners, while also seeing increases in petrol, diesel, and airline fares due to rising global oil prices.
The Indian government has reduced excise duty on petrol and diesel to mitigate the impact of rising global crude prices, triggered by geopolitical tensions in the Middle East. This move aims to provide relief to consumers and oil companies amidst volatile international oil markets.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
In a major setback to Trump's pivotal economic agenda for his second term, the US Supreme Court, in a 6-3 verdict written by Chief Justice John Roberts, ruled that the tariffs imposed by the president on nations around the world were illegal.
The Income Tax Department has clarified that income from the transfer of investments made before April 1, 2017, is excluded from the scope of the General Anti-Avoidance Rules (GAAR), addressing industry concerns about retrospective application.
Trump administration will use "alternative legal authorities" to enforce tariffs on the countries, assuring that the tariff revenue will remain unchanged.
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.
The Indian government has imposed penalties totalling nearly 20 crore on various companies for non-compliance with Corporate Social Responsibility (CSR) norms over the past three financial years, as revealed in the Rajya Sabha.
'Every day the meter is ticking. Like a time bomb.' Shipping giants are billing Indian exporters up to $3,000 per container in war surcharges -- on cargo that sailed before the war began -- as the Strait of Hormuz shuts down.
Piyush Goyal on Friday rejected reports suggesting that India is planning to hold off trade deal with the United States for several months.
India will now face a lower reciprocal tariff of 10 per cent, down from 25 per cent, after US President Donald Trump announced a new global levy on items imported into America in the wake of the Supreme Court verdict against his sweeping duties on several nations.
The Swadeshi Jagran Manch (SJM) is advocating for the termination of the moratorium on customs duties for electronically transmitted digital products, arguing that it hinders self-reliance, causes revenue losses, and restricts India's ability to tax emerging technologies like AI.
Analysts predict continued volatility in Indian equity markets due to domestic macroeconomic data, F&O expiry, global developments including US tariff policies, and geopolitical tensions.
The DGCA has revised air ticket refund norms, allowing passengers to cancel or change tickets without additional charges within 48 hours of booking, subject to conditions. The new rules also address name correction fees and medical emergency cancellations.
The official also advised all the trade partners to abide by the trade deals. The new 10 percent global tariff is part of Trump's protectionist trade agenda, aimed at addressing balance-of-payments issues and unfair trade practices.
A new study suggests that manipulating the gut microbiome by stimulating the vagus nerve may help reverse memory loss associated with ageing. The research highlights the gut's role in cognitive function and potential therapeutic strategies.
Electric vehicle (EV) manufacturers breathed a sigh of relief after the GST Council on Wednesday night retained the concessional 5 per cent rate on EVs, though they now face competition from small petrol and diesel cars, which will attract a lower 18 per cent levy.
India and the US have decided to reschedule their meeting to finalize the interim trade pact due to recent developments and implications, including changes in US tariffs.
US President Donald Trump asserted that the trade deal with India remains intact despite a Supreme Court ruling against his tariffs, while also claiming he used tariffs to stop a war between India and Pakistan.
