For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
Petroleum being out of the goods and services tax initially will create some anomaly as tax credit on some of the inputs to oil industry may not be given, said revenue secretary Hasmukh Adhia.
India's fiscal deficit touched Rs 4.57 lakh crore or 84.4 per cent of budget estimates in the first seven months of the current fiscal, reflecting signs of stress in government finances.
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
Faced with rising gas prices, consumers will opt for fuel-efficient low-cost cars and hybrids over the next five years rather than sport utility vehicles and luxury cars
'I have no problems with the finance ministry or with state governments treating petrol pump prices as the last resort for meeting their ambitious spending targets with very limited revenue resources.' 'But let's do away with this smokescreen of free pricing of petrol and diesel and go back to administered pricing regime,' says Dr Sudhir Bisht.
For BCPL's branded petrol, Speed, the price differential with regular petrol is now between Rs 2.74 and Rs 3.75 per litre.
Though the annual light & sound show anchored by Finance Minister (called the budget) made a lot of sound but the light was not enough to show the way where the Indian economy is heading.
The lower quarterly profit was mainly due to rise in fuel costs, foreign exchange loss and lower yield
Jet Airways made a stand-alone profit of Rs 87.5 crore (Rs 875 million).
With indications that government is keen to allow foreign airlines buy stakes in Indian carriers, a Group of Ministers (GoM) is likely to meet next week to decide on the investment cap by them, official sources said on Friday.
Demonetisation was not a good idea and the time should have been utilised instead to fine-tune the Goods and Services Tax before it was introduced, said Gita Gopinath, John Zwaanstra Professor of International Studies and of Economics at Harvard University, in an interview with Advait Rao Palepu.
The airline has launched a series of discount offers since January this year.
While two-wheeler sales are down 15 per cent year-on-year, passenger vehicles sales are lower by 5-7 per cent.
The ethanol vehicles will have the flexibility to switch to other fuels
Senior policymakers say it is a tough task and the finance ministry may resort to the time-tested method of carrying forward part of the subsidy payment burden to the next fiscal year.
The finance ministry is believed to have objected to some provisions of the policy.
Do you think the petrol dealers are right in their demands? Or should they not go on a strike? Or is the Maharashtra government to blame for this crisis?
GST will lead to consolidation of multiple indirect taxes
Reliance announced energy asset sales worth around $ 16 billion; end of the investment cycle in telecom; bringing net-debt to zero in 18 months; value-unlocking options for real estate and financial assets; listing of telecom and retail in five years; and focus on dividends.
In a bid to minimise the impact of recent fuel price hike on consumers, the Maharashtra government on Wednesday reduced Value Added Tax (VAT) on diesel and kerosene by two per cent.
This number is more than the total number (1,071) of electric cars sold in India in calendar year 2019. MG has stopped registrations for the ZS and will cater to 2,409 of the total bookings.
Vegetable prices which had witnessed a 21.16 per cent contraction in June, shot up by 21.95 per cent in July.
A mix of financial and strategic mistakes combined with poor expectations of the management are the reasons for the downfall of Indian airlines. For Jet, the deathly potion was even more toxic on account of the bitter squabbles between promoter Naresh Goyal and strategic partner Etihad Airways.
Reaching a consensus might also get tougher, as already seen with issues like inclusion of natural gas in GST and imposition of a sugar cess, both central proposals being resisted.
Civil avation minister Praful Patel said on Tuesday he would once again take up with the finance minister P Chidambaram the issue of rationalisation of taxes on Aviation Turbine Fuel.
'It goes without saying that Air India has now no imaginable reason to exist.'
Autorickshaw drivers and families from Kalyan reveal how the lockdown has rendered them jobless and deprived them of bare necessities.
'Elections, my friends, are a boon for the Indian people.' 'That is the only time our high and mighty leaders are accessible to the masses.' 'So don't ruin that by agreeing to once-in-5-years elections,' argues A Ganesh Nadar.
Addressing the Lok Sabha on Wednesday, Finance Minister Pranab Mukherjee called for the inclusion of petroleum products in proposed goods and services tax so that sharp domestic price movements can be checked.
The new government may also introduce a separate scheme for revival of stranded gas-based power projects
Tickets will be sold only through Air India website from August 27-31 and for travel during August 27-September 30.
China is slowing down, Europe is barely afloat and the US is meeting a larger chunk of its own demand.
The first half of 2019-20 will be under pressure, since prices are expected to go up by Rs 7,000-8,000 at a time when sentiment is poor.
Travel time, too, has not fallen much after the abolition of octroi with trucks still queued up at regional transport offices and toll tax plazas.
Sector seeks declared goods status for ATF and withdrawal of service tax on first class and business class air tickets.
The finance minister defended the change in the tax rates.
Former Air India executive director Jitender Bhargava comes out with a book detailing what went wrong with the national carrier. According to him, India does not have a civil aviation policy, and that's just the beginning.
GST is a landmark reform considering the sweeping changes it brings about in the indirect tax regime in India.
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