Morning Digest | Judicial commission to probe Manipur ‘ethnic violence’, says Amit Shah; India beats Pakistan to win its fourth junior men’s Asia Cup hockey title, and more 

Morning Digest | Judicial commission to probe Manipur ‘ethnic violence’, says Amit Shah; India beats Pakistan to win its fourth junior men’s Asia Cup hockey title, and more 

Sedition law can be retained but with safeguards: Law Commission The Section 124A of the Indian Penal Code dealing with sedition needs to be retained but certain amendments could be made for greater clarity regarding its usage, the 22nd Law Commission has said in its report to the government. The commission said sedition being a … Read more

Govt cuts windfall tax on crude oil, hikes taxes on aviation fuel, diesel

Govt cuts windfall tax on crude oil, hikes taxes on aviation fuel, diesel

The Centre today slashed the windfall tax on export of locally produced crude oil to Rs 9,500 per tonne from Rs 11,000 per tonne. However, windfall tax on exports of aviation fuel has been increased to Rs 5 per litre from Rs 3.50 per litre while on disel it has been hiked to Rs 13/litre … Read more

Ten steps the government has taken recently to cool prices

Ten steps the government has taken recently to cool prices

The government responded to high inflation in the economy by announcing a series of steps to cool prices and cushion the impact on the common man. This comes after retail inflation hit 7.8 per cent in April and the wholesale prices crossed 15 per cent reflecting the input cost pressures. The rising food and fuel … Read more

Sri Lanka hikes fuel prices; petrol at all-time high of Rs 420, diesel Rs 400 per litre

Sri Lanka hikes fuel prices; petrol at all-time high of Rs 420, diesel Rs 400 per litre

Crisis-hit Sri Lanka on Tuesday raised the petrol price by 24.3 per cent and diesel by 38.4 per cent, a record hike in fuel prices amidst the country’s worst economic crisis due to the shortage of foreign exchange reserves. With the second fuel price hike since April 19, now the most-used Octane 92 petrol would … Read more

India’s fuel sales rise above pre-COVID levels

India’s fuel sales rise above pre-COVID levels

India’s fuel sales surged past pre-pandemic levels in March on twin impact of the economy rebounding from the lifting of pandemic-related restrictions and anticipation of price increases leading to stocking. In the first two weeks of March, dealers, as well as the public, topped up their tanks in anticipation of an increase in prices that … Read more

Chaos in Bengal assembly over reduction in liquor prices, BJP MLAs walk out

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BJP MLAs staged a walkout in the West Bengal assembly on Wednesday after Speaker Biman Banerjee refused to admit a series of adjournment motions moved by the opposition parties over a host of issues, including the reduction in duty on liquor while ignoring taxes on fuel. Reading out one of the adjournment motions, BJP’s Asansol … Read more

BJP slams Maharashtra govt for not cutting VAT on petrol, diesel

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A day after the Centre brought down prices of petrol and diesel by Rs 5 and Rs 10 respectively, the state’s opposition BJP has slammed the Maharashtra government for not bringing down the state’s value added tax (VAT) on petroleum products that could bring further relief to people. The ruling Maha Vikas Aghadi (MVA) alliance … Read more

Puri says taxes on petrol, diesel funding vaccines, free meals, other schemes

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Amid a clamour by the Opposition for cutting taxes to soften record high petrol and diesel prices, Oil Minister Hardeep Singh Puri on Friday equated the move to ‘axing one’s own feet’, saying such levies funded government schemes to provide free COVID-19 vaccines, meals and cooking gas to millions amid the pandemic. He also said … Read more

GST Council: No GST on petrol, diesel yet, compensation cess till 2026

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The Goods and Service Tax (GST) Council decided against including auto fuels within its ambit following unanimous opposition from states, even as it specified that compensation period would not be extended beyond 2022. Finance minister Nirmala Sitharaman highlighted that the cess collected from July 2022 till March 2026 will be used solely for repayment of … Read more