New Delhi, April 8 (IANS) The shortfall in the Pakistan government’s revenues has emerged as the Achilles’ heel of the IMF Programme.These revenues are the cornerstone of Pakistan’s IMF loan agreements, focusing on aggressive tax expansion to meet revenue targets and secure funds. To align with the IMF’s $7 billion Extended Fund Facility (EFF), the FBR is pushing for a revised target of over Rs 13 trillion, including tough tax hikes, revenue reforms in agriculture, property, and increased …
Latest Excise Duty News & Updates
New Delhi, April 6 (IANS) India’s strong fiscal position and robust foreign exchange reserves provide the Reserve Bank of India with more policy flexibility, Finance Minister Nirmala Sitharaman said on Monday.Addressing the golden jubilee celebrations of the National Institute of Public Finance and Policy, the Finance Minister said: “India has fiscal space with room to maintain the government’s capex programme, room for the RBI to cut rates and room to offer targeted support to affected sector…
New Delhi, April 2 (IANS) The Centre has rolled out a series of relief measures aimed at shielding Indian industry and consumers from the adverse economic impact of the Iran war, which has disrupted supply chains and hit exports.The Finance Ministry has outlined steps spanning customs duty cuts for key raw materials, export incentives, fuel price controls, and financial support mechanisms, with a focus on ensuring stability across key sectors.The Government has allowed Special Economic Zone (SEZ…
New Delhi, March 28 (IANS) The government on Saturday said that more than 54 lakh LPG refills were delivered yesterday and the delivery of domestic LPG cylinders is normal despite prevailing geopolitical situation that has affected the supply chains.There are no reported dry-out at LPG distributorships and online LPG cylinder bookings increased to 91 per cent on industry basis yesterday, according to the Ministry of Petroleum and Natural Gas.To prevent diversion at the distributor level, Deliver…
Bengaluru, March 27 (IANS) Karnataka Chief Minister Siddaramaiah, Deputy Chief Minister D.K. Shivakumar, and AICC General Secretary Randeep Singh Surjewala on Friday launched a sharp attack on the Union government, alleging large-scale “loot” through taxation on petrol and diesel over the past 11 years.Addressing a joint press conference at the KPCC office in Bengaluru, Randeep Singh Surjewala charged that the Centre had collected Rs 43 lakh crore from taxes on petrol and diesel since 2014, …
New Delhi, March 27 (IANS) Union Finance Minister Nirmala Sitharaman on Friday said the Centre’s decision to slash excise duty by Rs 10 on petrol and diesel was aimed at protecting citizens from the impact of rising global crude oil prices, asserting that the government has chosen to absorb the burden rather than pass it on to consumers.Addressing the media, Sitharaman said the move reflects Prime Minister Narendra Modi’s clear policy approach of ensuring price stability and adequate fuel su…
New Delhi, March 27 (IANS) More than 350 show-cause notices have been issued to LPG distributorships as part of enforcement action to maintain seamless supply of gas, the government said on Friday, adding that enforcement drives are ongoing across states/UTs, with more than 3,000 raids conducted and over 1,500 LPG cylinders seized.PSU oil marketing companies (OMCs) conducted more than 1,500 surprise inspections at retail outlets and LPG distributorships across the country, according to an offici…
New Delhi, March 27 (IANS) Union Minister Pralhad Joshi on Friday termed the Opposition’s behaviour in Parliament as “most unfortunate,” accusing the Congress and other parties of acting irresponsibly at a time when the world is grappling with economic challenges, particularly rising crude oil prices.“The Opposition’s behaviour in Parliament at present is most unfortunate. The Congress and a few other major parties are acting irresponsibly,” Joshi said, claiming that instead of ackno…
New Delhi, March 27 (IANS) The Congress on Friday said that the government’s revenue ultimately comes from the people’s pockets, asserting that any reduction in excise duty is not a financial sacrifice by the government but a return of taxpayers’ money. Shiv Sena (UBT) MP also questioned the intent behind the move, with some calling it politically-motivated. This comes after the Centre slashed excise duties on petrol and diesel by Rs 10 per litre each, bringing them down to Rs 3 per litre …
Gandhinagar, March 27 (IANS) The Gujarat government has welcomed the central government’s move to cut excise duty on petrol and diesel by Rs 10 per litre.Gujarat Chief Minister Bhupendra Patel said, “Today, when there has been a sharp rise in crude oil prices at the global level, the Prime Minister Narendra Modi has once again demonstrated his sensitivity towards the people of the country by prioritising the welfare of citizens above all else.”He further noted, “The Central Government has …