New Delhi, May 16 (IANS) The Delhi government on Saturday announced a major reduction in Value Added Tax (VAT) on Aviation Turbine Fuel (ATF), bringing the levy down from 25 per cent to 7 per cent in a move aimed at easing operational costs for airlines and providing relief to air passengers.According to the Chief Minister’s Office, the decision is expected to lower fuel expenses for carriers operating from the national capital and help improve the overall viability of airline operations.“De…
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Chandigarh, May 16 (IANS) To ensure that the increased fuel prices do not impose any additional financial burden on the people of Punjab, the state government should follow the example of the BJP-led Central government, which on March 27 reduced taxes by Rs 10 per litre and absorbed the burden of rising fuel prices, the state unit of the BJP said on Saturday. BJP General Secretary Anil Sarin, while addressing the media in the presence of the party’s state media head Vineet Joshi, said that sim…
Mumbai, May 16 (IANS) Domestic institutional investors (DIIs) continued to cushion domestic equity markets with net purchases worth Rs 18,520 crore during the week, even as foreign institutional investors (FIIs) remained net sellers amid elevated market volatility and persistent global uncertainties.According to provisional exchange data, FIIs offloaded equities worth Rs 13,580 crore during the week, while DIIs remained net buyers.In May, FIIs have sold equities worth Rs 24,660 crore, whereas DI…
New Delhi, May 15 (IANS) As oil marketing companies (OMCs) face mounting losses amid the ongoing West Asia crisis, they raised petrol and diesel prices by Rs 3 per litre each on Friday.The revised rates came into effect immediately across the country. In Delhi, petrol prices rose by Rs 3.14 per litre to Rs 97.77, while diesel became costlier by Rs 3.11 per litre.Meanwhile, amid the Middle East crisis, oil companies have also raised CNG prices. Effective Friday, the price of CNG has increased by …
Prayagraj, May 12 (IANS) As Prime Minister Narendra Modi urged Indians to adopt cost-cutting measures — including avoiding gold purchases, postponing foreign travel, and working from home — amid the economic fallout of the ongoing Iran-US war and rising crude oil prices, Samajwadi Party chief Akhilesh Yadav on Tuesday said that this was not an appeal, but an “announcement of his own downfall”. Speaking to reporters, Akhilesh Yadav said: “This is not an appeal; rather, it is an announcement…
Mumbai, May 12 (IANS) India’s state-run oil marketing companies (OMCs) are staring at the possibility of their entire FY26 profits being wiped out if crude oil prices remain elevated, Petroleum Minister Hardeep Singh Puri warned on Tuesday amid escalating tensions in the Middle East.Speaking at the CII Annual Business Summit 2026 here, Puri said the ongoing energy crisis triggered by the conflict in the Middle East has sharply increased pressure on Indian fuel retailers, with oil marketing com…
New Delhi, May 11 (IANS) India’s economy has remained resilient amid global shocks and is projected to clock the full year 2026-27 GDP growth rate of 6.6 per cent, with real GDP growth of closer to 7.2 per cent in the fourth quarter last fiscal (Q4 FY26), an SBI Research report said on Monday.The GDP growth for last fiscal (FY26) is likely to be at 7.5 per cent. Despite global headwinds, the Indian economy has maintained strong growth momentum. High-frequency activity data indicates resilient …
Mumbai, May 10 (IANS) Investors are expected to remain cautious next week as escalating tensions between the US and Iran, rising crude oil prices, the ongoing March quarter earnings season, foreign fund outflows and rupee weakness are likely to dictate the direction of the Indian stock market.Benchmark indices extended losses for the second consecutive session on Friday, weighed down mainly by banking and financial stocks amid growing geopolitical uncertainty.The Sensex ended 516 points, or 0.66…
Mumbai, May 3 (IANS) The Indian stock market is likely to remain under pressure in the coming week as investors grapple with rising crude oil prices, persistent foreign fund outflows, and escalating geopolitical tensions. Alongside these macro triggers, a busy earnings calendar is expected to keep stock-specific action high, even as the broader sentiment stays cautious.During the last trading session, the Nifty declined 0.73 per cent to close at 24,000, recovering from its day’s low, while the…
New Delhi, May 2 (IANS) Foreign institutional investors (FIIs) continued to remain net seller for the 10th consecutive month in April, as they sold Rs 70,100 crore worth Indian equities last month, according to the provisional exchange data.On the other hand, domestic institutional investors (DIIs) continue to provide support to the market, emerging as net buyer during last month, with investments totalling Rs 51,000 crore. Last week, FIIs sold net about Rs 13,000 crore while DIIs infused around…