The petroleum ministry's call for an immediate Re 1 cut in excise duty on diesel has been rejected by Finance Minister P Chidambaram.
Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
Industrial production is expected to dip marginally in the next 3 months due to rupee gaining strength against the dollar and declining non-food credit, even as petrol and diesel might become cheaper, the Institute of Economic Growth said.
Reliance Industries Ltd, India's largest buyer of Russian oil and most impacted by the latest US sanctions, on Friday said it will comply with all applicable restrictions and will adjust its refinery operations to meet compliance requirements.
With the new Bharat Stage IV emission norms coming into effect from Thursday, oil companies are gearing up to meet the requirements of Mumbai, an official said on Friday.
Electric vehicle (EV) penetration in the luxury car segment has seen a drop by nearly 3 percentage points in the GST 2.0 era with the internal combustion engine versions offering better total cost of ownership, according to industry players. While the trend is also visible in the mass market segment, it is the entry luxury segment that is witnessing a more marked shift towards internal combustion engine (ICE) vehicles as price difference between EV and ICE widened under the new GST rates.
A pilot for daily revision of petrol and diesel price will be first implemented in Puducherry and Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh
The fiscal tilt towards capex benefits companies in investment-related sectors like capital goods, defence equipment, engineering & construction and metal & mining. The planned cut in revenue expenditure will weigh on companies in consumption sectors like FMCG, consumer durables and retail.
Rural India outpaced urban centres in passenger vehicle sales in 2025, recording a growth of 12 per cent compared with 8 per cent in cities.
Months after the government increased renewal charges for older vehicles, the transport ministry has raised the fitness test fee for all motor vehicles older than 20 years to discourage people from keeping them.
Petroleum products such as crude, motor spirit and diesel, and alcohol beverages will be kept outside the dual goods and service tax (GST) structure, which will be implemented from April 2010.
Govt hikes excise duty on petrol, diesel to mop up Rs 2.5K-cr.
The new Seltos has grown in size with a length of 4460mm and that's 95mm longer!
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.'
Petrol and diesel prices are likely to go up by at least Rs 2 per litre after the Lok Sabha polls, once the current freeze on revising prices in step with the cost of the raw material -- crude oil -- is lifted.
State-owned oil companies have announced a hike in petrol prices between 37 and 40 paise in the major cities, while diesel will be costlier by 37 to 44 paise with effect from midnight on Friday.
'The petrol lobby is very rich and strong.'
The Curvv hasn't set the sales charts on fire and Tata needs another product aimed straight at the Hyundai Creta, which is where the Sierra fits in.
The Supreme Court has ordered authorities not to take coercive action against owners of diesel vehicles over 10 years old and petrol vehicles older than 15 years in Delhi-NCR.
New Zealand Prime Minister Christopher Luxon on Monday said the negotiations for a free trade agreement with India have been concluded.
The government has partially deregulated diesel price allowing a hike of 40-50 paise a litre per month for retail customers and nearly Rs 11 for bulk consumers, a step that is feared will have a cascading effect on inflation.
Indian rupee slipping below the record 88 level against the US dollar will enhance price competitiveness of Indian products in global markets and help exporters diversify beyond the US market, say exporters. However, import-dependent sectors such as gems and jewellery, petroleum and electronics may see lower benefits due to a rise in input costs, they stated.
Petrol attracts a total excise duty of Rs 17.46 per litre.
Mahindra & Mahindra on Saturday said it has reduced prices of its passenger vehicle range by up to Rs 1.56 lakh with immediate effect in order to pass on GST rate cut benefit to customers. The price cut follows the announcement of revamped GST at the 56th GST Council meeting held on September 3, 2025, the Mumbai-based auto major said in a statement.
Cooking gas price was on Saturday hiked by Rs 11.42 per cylinder following government decision to raise commission paid to the dealers.
While LPG price was raised by Rs 18, kerosene saw a hike of Rs 3 per litre
In absolute terms, both types of cars must cut emissions by about 28-29 g/km. But in percentage terms, the lighter 900-kg car must reduce emissions by 27 per cent, while the 1,500-kg car needs a 22 per cent cut. And the target becomes progressively stringent for both -- but, once again, the tightening is sharper for the 900-kg car than for the 1500-kg car.
The offroad legend 2025 Mahindra Thar launched at an eye-popping Rs 9.99 lakh, writes Rajesh Karkera/Rediff.com.
'Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs'
Diesel sales in India fell 3 per cent in September as a receding monsoon continued to dampen demand and slowed industrial activity in some parts of the country, preliminary data of state-owned firms showed. While diesel sales by three state-owned fuel retailers fell year-on-year, petrol sales rose in September. Consumption of diesel, the most consumed fuel in the country -- accounting for about two-fifths of the demand, fell to 5.81 million tonnes in September from 5.99 million tonnes demand in the same period a year ago.
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.
'Growth will definitely continue to come most from the sub-four-metre SUV segment, primarily because that is where the heart of economy and affordability is. Naturally, that will keep pushing the share of that segment (in overall PV sales) higher.'
Tata Motors Passenger Vehicles Ltd expects contribution of SUVs to its overall sales to go beyond 70 per cent with it making foray into the fast growing mid-sized segment with a premium positioning of its Sierra model, according to its Managing Director & CEO, Shailesh Chandra.
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.
An eyewitness of the incident said that around 20 people managed to get out of the bus as it caught fire, but others were unable to escape.
The Congress party has accused Union Minister Nitin Gadkari of conflict of interest, alleging his sons' companies have benefited from the government's ethanol blending policy. The BJP has rejected the allegations.
Amid the crisis in Libya, increase in fuel prices would become 'inevitable' if crude oil remains at $100 per barrel, Prime Minister's Economic Advisory Council chairman C Rangarajan said on Monday.
India is set to reduce its direct imports of Russian crude from late November, following new US sanctions on Rosneft and Lukoil, effective November 21.
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