The government should bring natural gas under the Goods and Services Tax (GST) regime to realise Prime Minister Narendra Modi's vision for a gas-based economy and raising the share of the environment-friendly fuel in India's energy basket, an industry body that represents the likes of Reliance Industries as well as state-owned firms, has said. Natural gas is currently outside the ambit of GST, and existing legacy taxes -- central excise duty, state VAT, central sales tax -- continue to be applicable on the fuel. In its pre-Budget memorandum to the finance ministry, Federation of Indian Petroleum Industry (FIPI), which boasts of members from across the oil and gas spectrum, also demanded rationalisation of GST on transportation of natural gas through pipeline as well as on re-gasification of imported LNG to help bring down cost of the environment friendly fuel.
Thousands of demonstrators have hit the streets since April 9, as the government ran out of money for vital imports; prices of essential commodities have skyrocketed and there are acute shortages in fuel, medicines and electricity supply.
Auto Expo 2023 may not trigger a fresh rally in automobile stocks, say analysts, as this year's edition lacks participation from major listed players. It is also owing to the focus on electric vehicles (EVs), a segment where four-wheelers have minuscule market share. "In the passenger vehicles (PV) segment, Maruti Suzuki India and Tata Motors are the only listed players.
We very much hope that wisdom dawns on the Chinese side, Jaishankar said in Bangkok.
The SJB has begun to collect signatures from MPs for the no-confidence motion, according to media reports.
Ppolitical experts in Colombo said the ministers came under intense pressure from the public over the government's alleged "mishandling" of the economic crisis, triggered by the shortage in the foreign exchange reserve.
A video is being shared on social media showing the protesters counting the currency notes that were unearthed. The recovered money was said to be handed over to the security units, the Daily Mirror newspaper reported.
Thousands of irate anti-government protesters in Sri Lanka on Saturday stormed into embattled President Rajapaksa's official residence in central Colombo's high-security Fort area after breaking the barricades, as they demanded his resignation over the island nation's worst economic crisis in recent memory.
A group of protesters on Saturday entered the private residence of Sri Lankan Prime Minister Ranil Wickremesinghe and set it on fire, hours after he offered to resign to make way for an all-party government amid unprecedented protests in the country for the resignation of the government led by President Gotabaya Rajapaksa.
Sri Lankan police on Saturday fired tear gas and water cannons to disperse anti-government protestors here as the ongoing agitation demanding the resignation of President Gotabaya Rajapaksa over the worst economic crisis intensified as it entered its 50th day.
A statement issued by the Prime Minister's Office on Monday said that Mahinda Rajapaksa intends to propose a new Constitutional Amendment to the cabinet in order to fulfil the people's aspirations.
In a year when the country produced record coal, rains hit movement of the fuel from mines to power generation units, impacting power generation in many states, including Gujarat, Punjab, Rajasthan, Delhi and Tamil Nadu.
Rajapaksa arrived in Thailand with three other people on a chartered flight from Singapore at Wing 6 of the military airport adjacent to Don Mueang International Airport around 8 pm local time on Thursday.
Sri Lanka's ousted president Gotabaya Rajapaksa left Singapore for Thailand after his short-term visit pass expired on Thursday, according to a media report.
Today beef, tomorrow namaz, the third day Sunday mass the fourth day hijab, the fifth day halal, the sixth day love jihad will always be the issues on hand, asserts Aakar Patel.
The Consumer Price Index (CPI)-based inflation is now projected to be at 5.3 per cent for 2021-22 with risks evenly balanced. In its August policy, the central bank had estimated inflation to be at 5.7 per cent due to supply side constraints, high crude oil and raw materials cost.
Rs 50,000-cr loans for 15,000-Mw projects could be heading for restructuring.
Thousands of Inter University Students' Federation (IUSF) students were seen sloganeering outside the Prime Minister's Residence in Wijerama Mawatha.
The government has cut the budgets of some major central government funded public hospitals, indicating there could be more private sector expansion in health care.
Automobile retail sales in the country fell 18 per cent year-on-year in the 42-day long festive period this year as semiconductor shortage impacted production across companies affecting their ability to supply adequate numbers to dealer partners, FADA said on Thursday. During the period under review, barring three-wheeler and commercial vehicles, all other segments including passenger vehicles, two-wheelers and tractors were down as compared with the same period of last year. As per data collated by the Federation of Automobile Dealers Associations (FADA), total retail sales across segments stood at 20,90,893 units this festive period, down 18 per cent from 25,56,335 units in 2020.
India, he said, has already taken a host of reforms in banking and other sectors and is now focussing on stepping up public investment. "Compared to other nations, even among advanced countries, I think India is relatively better placed for the simple reason that India paid a certain price last decade... we had a banking system stress which was then compounded by stress in the non-banking financial sector towards 2018," he said at Amazon Smbhav Summit.
Sri Lanka has also imposed a police curfew in Western Province for six hours.
A statement issued by the presidential media division on Friday said an extremist group was behind the unrest near President Rajapaksa's residence in Mirihana.
The government's poor handling of the economic crisis where people currently endure long hours of power outages and scarcity of essentials has angered the public which planned country-wide protests on Sunday.
The Union ministry of coal, while acknowledging that domestic coal stock is not enough to meet the power demand, asked state governments and the power generating companies (gencos) to import coal before monsoon season sets in. The ministry has warned the gencos if they do not import coal for 10 per cent blending in their fuel demand by the end of this month, blending benchmark would be increased to 15 per cent. The order pertains to all - central, state and independent power producers (IPPs)/privately owned units.
The Maruti Suzuki Swift DZire is at times the top selling car in India, outselling even the company's entry-level Alto hatchback. MotorBeam finds out what makes this compact sedan a favourite of Indian buyers by living with the vehicle.
Will help in reviving the economy and push investment.
Only 68 MPs voted in favour of the motion, it said, giving the 72-year-old President a comfortable victory.
India has expressed concern that foreign fighters involved in the conflict in Syria have moved to other places as mercenaries, as New Delhi underlined that it is ready to play a constructive role in the Security Council to help realise the objective of the West Asian country reclaiming its place in the comity of nations.
The 73-year-old leader on Thursday emailed his resignation letter to the Speaker soon after he was allowed by Singapore to enter the city-state on a "private visit".
'The High Commission would like to categorically deny speculative reports in sections of media and social media about #India sending her troops to Sri Lanka. These reports and such views are also not in keeping with the position of the Government of #India,' the Indian mission said on Twitter.
At least 10 persons were admitted to the National Hospital after the confrontation between protesters who have currently been staying inside the prime minister's official residence, the Colombo Post news portal reported.
The navy finds itself fighting for relevance, with navy planners lamenting that its share of the budget has dropped dramatically.
Ukraine government officials have accused Russian forces of destroying grain storage facilities in the country. Nearly 25 million tonnes of grains are stuck in Ukrainian warehouses and unable to move out due to Vladimir Putin's War.
Sri Lanka's embattled President Gotabaya Rajapaksa would resign on Wednesday, Parliament Speaker Mahinda Yapa Abeywardena announced late on Saturday night, hours after thousands of protesters stormed the former's official residence, blaming his government for an unprecedented economic crisis that has brought the country to its knees.
Passengers complained that they had to wait a long time for Ola and Uber cabs, and added that those were available at inflated rates.
ITC's first foreign venture in the hotel space - a premium and luxury mixed-use development - has been "adversely impacted" by Sri Lanka's economic crisis, the firm said. The $300-million project under WelcomHotels Lanka (Private) Limited (WLPL), a wholly-owned subsidiary of ITC, comprises a luxury hotel and a super-premium residential apartment complex on 5.86 acres of prime sea-facing land in Colombo. In its latest annual report for financial year 2021-22 (FY22), ITC mentioned that the project's construction was running on schedule till the third quarter (Q3) of FY19, but was adversely impacted due to disruptions in the aftermath of the terror incidents in 2019 and thereafter by recurrent waves of the Covid-19 pandemic.
Sri Lanka is going through the worst economic crisis since independence in 1948. A crippling shortage of foreign reserves has led to long queues for fuel, cooking gas and other essentials while power cuts and soaring food prices heaped misery on the people.
Sri Lankan police on Monday came under pressure to arrest the Rajapaksa family loyalists involved in attacks on peaceful protesters last week, even as it arrested over 200 people on various charges following the violence that left nine people dead.
Sri Lankan authorities on Wednesday deployed troops and military vehicles in the streets to ensure public security in the capital amidst nationwide protests over the government's failure to tackle the worst economic crisis.
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