Most states now levy greater tax on petrol than the central government, without having to share the subsidy burden. After last week’s increase in prices, state sales tax/VAT on petrol is more than central excise in most cases. The central government levies a fixed excise duty of Rs 14.78 on every litre of petrol. But, states levy an ad valorem tax which, in absolute terms, increases with every price increase of...
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Wheat glut: farms face falling prices, rising costs-Ruchira Singh
-Live Mint After a record harvest of 90.23 mt this year, the govt’s wheat stocks were at 38.2 mt as of 1 May Worry lines run deep on the faces of wheat farmers in Sehrala in Haryana as falling prices, higher input costs and poor infrastructure erode earnings and cast doubt over not just their next crop, but their future in agriculture as well. Agents in the grain market of Ballabgarh said spot...
More »Oil companies, state govts step in to douse petrol fire-Anupama Airy & Aurangzeb Naqshbandi
A day after the steepest ever petrol price hike of Rs. 7.54 sparked protests by UPA allies and Opposition parties in several parts of the country on Thursday, there were strong indications that the government would cushion the blow for the common man. Petrol prices may come down by Rs. 3-4 a litre in the next few days as state governments readied plans to slash local taxes and oil companies...
More »Job portal for disabled-Ananya Sengupta
Soon, the country’s estimated 40 million people with disabilities will be able to track job opportunities at the click of a mouse. www.jobability.org will be launched tomorrow at a national conference on livelihood for persons with disability held by business chamber Ficci. The site is designed to be friendly for the disabled and will be exclusively for use by such people. The portal, the first such initiative in South Asia that...
More »Part rollback of petrol hike likely by end-May
-The Times of India Minutes after the Congress demanded relief from the steep hike in petrol price, state-run oil marketers on Thursday indicated they could reduce the price by the month-end if the rupee and international oil prices held steady. "Current trend indicates that prices can come down," IndianOil chairman R S Butola said. He was speaking just after Congress publicly asked for a reduction in the hike. "We are genuinely sensitive to...
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