Economy - Electronic Gurudev

Consumers will continue to pay higher taxes on petrol and diesel as the government has no plans to lower the excise duty on fuel. This is because notwithstanding the robust collections from the Goods and Services Tax, the Centre continues to remain vigilant about its fiscal health. “There is no proposal to lower the excise duties on petrol and diesel. We are not looking at anything of the sort at the moment,” said a senior government official. While the dividend payment from the Reserve Bank of India at ₹30,659 crore is lower than estimated ₹58,000 crore and uncertainty over the projected ₹72,500 crore from disinvestment receipts, the Centre is keeping a close eye on its fiscal projections. Global prices still low A major source of comfort is the still low prices of crud...

Terming the steps announced by Prime Minister Narendra Modi in his address to the nation on New Year’s Eve as ‘extremely positive for the Indian economy,’ apex industry body Assocham on Tuesday said that the focus should now be on effective implementation of these schemes to drive economic growth. “The initiatives like 60-day interest waiver for farmers who have taken loans from district co-operative banks and primary societies together with additional fund of 20,000 crore given to NABARD to give loans to farmers would help in alleviating pains of farmers and rural class,” said Assocham president Mr Sunil Kanoria. He also said that schemes like interest subsidy on loans for low cost housing together with impetus to affordable housing will provide much needed help to vulnerable se...

Tag: Economy

No proposal to lower the excise duties on petrol and diesel: Finance Ministry

Prime Minister Modi’s steps extremely positive for economy: Assocham