Coal 2023: analysis and forecast to 2026
Latest IEA market report sees lower demand to 2026, based on current policies, but stronger actions are needed to drive a steeper decline towards meeting international climate goals. After reaching an
Fuel Pricing
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Higher excise duty on diesel cars under study
In the wake of a marked preference of personal vehicle owners, more so after the hike in petrol prices, the Finance Ministry is having a re-look at the Petroleum Ministry's proposal to hike the excise levy duty on diesel cars so as to disincentivise consumption of the subsidised transportation fuel. Indicating to the media that the proposal is still under the government's scanner, CBEC (Central Board of Excise and Customs) Chairman S. K. Goel said: “The proposal is there and that is being examined by Finance Minister. Consultations are being held and appropriate decision will be taken by the government in due course.”
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Petrol price cut by another 92 paise, no VAT on CNG
The approval of Delhi budget 2012-13 on Monday brought about the rollback several levies proposed by Chief Minister Sheila Dikshit, who also holds the Finance portfolio. The much protested proposal of
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CM: No rollback of VAT on CNG
Terming as “justifiable” the government’s move to impose five per cent Value Added Tax (VAT) on CNG, the fuel on which the public transport runs in the city, chief minister Sheila Dikshit has ruled out any rollback of the increased price of the fuel. “We will not withdraw the VAT on CNG. We have levied only five per cent VAT on the fuel and that is justifiable,” Ms Dikshit said. The chief minister had, while presenting the Budget on May 28, proposed to impose the VAT on compressed natural gas (CNG) to generate around `110 crores in revenue while withdrawing VAT on petrol after a nation-wide hike in its price. The Delhi Assembly will take up the Budget for approval on Monday.
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IGL gets boost from favourable HC ruling
A Delhi High Court order on Friday, stating that the Petroleum and Natural Gas Regulatory Board (PNGRB) does not have the power to fix gas rates, gave a big relief to city gas distribution company Indraprastha Gas Ltd (IGL). Following the favourable ruling, IGL shares surged 28.7 per cent, or Rs 55.60, to close at Rs 249.35 on Friday. The order ends two months of uncertainty over the company’s profitability and prospects.
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Govt won’t relent on 5% VAT on CNG, says Sheila
New Delhi: The Delhi chief minister on Sunday ruled out any rollback of the 5% VAT on CNG proposed in this year’s budget. CM Sheila Dikshit, while speaking to media persons, reiterated that the government
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Order slashing CNG prices quashed by High Court
Ruling that the Petroleum and Natural Gas Regulatory Board (PNGRB) has no power to determine the maximum retail price of CNG, the Delhi High Court on Friday set aside its April 9 order which had slashed
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State govt in no mood to cut taxes on petrol
Jammu: Even as the Centre and oil companies are exploring options to revise the petrol prices following steepest ever hike of Rs 7.54 per litre, the state government seems to be in no mood to reduce the
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Petrol prices cut by Rs 2 a litre with effect from midnight
Petrol price will be cut by Rs 2 per litre with effect from midnight tonight. State-owned oil firms will reduce petrol price by Rs 1.68 per litre, excluding taxes. After including 20 per cent VAT, the
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Petition challenging petrol price hike dismissed
CHENNAI: The Madras High Court has dismissed a writ petition challenging the recent steep hike in the price of petrol. Accepting the arguments of Central Government senior standing counsel S Haja Mohideen
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Oil companies told to explain petrol price hike
The Bombay high court on Wednesday directed the Ministry of Oil and Natural Gas and three oil companies to file an affidavit explaining the reasons for the recent price hike of petrol by Rs7.50 per litre.