Taxes on fuels should be brought down: Sitharaman : Bulletin: Business Today
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Taxes on fuels should be brought down: Sitharaman

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Rashi Bisaria | March 6, 2021

Call on bringing fuels under GST to be taken closer to GST Council meet: Sitharaman

Amidst the rise in fuel prices, Finance Minister Nirmala Sitharaman on Friday said she might take a call closer to the GST Council meeting about proposing to the Council to bring petrol and diesel under the goods and services tax (GST). Sitharaman admitted that taxes on fuels should be brought down to reduce the burden on consumers, and called pricing a worrying issue.

Dual airbags mandatory for new cars from April 1

The Ministry of Road Transport and Highways issued a notification on Friday making it mandatory for new models to have dual airbags installed in them for the safety of passengers. The new models of cars will have to adhere to this norm from April 1, 2021, onwards. The Centre has given time till August 31, 2021, for dual airbag installation in older models.

Crude oil prices rise on spot demand

Crude oil prices rose by Rs 28 to Rs 4,735 per barrel on Friday as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for March delivery traded higher by Rs 28, or 0.59 per cent, at Rs 4,735 per barrel in 6,075 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.

Mobile firms request govt to build polices to compete with countries

Mobile manufacturers on Friday requested the government to come up with policies that focus on competition with countries and not companies, sectoral industry body ICEA said in a statement. Addressing a webinar on production linked incentive scheme on Friday, Prime Minister Narendra Modi said the scheme, aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by USD 520 billion in the next five years.

Tata-owned Jaguar Land Rover fires one-third of India staff

British marquee brands Jaguar Land Rover (JLR) that is owned by the Tata Group is undertaking its biggest ever retrenchment drive in its India operations, slashing its workforce by nearly a third, sources told Business Today. The layoffs, which have already started and are expected to continue through this month, are part of its global strategy to shed about 2,000 non-manufacturing jobs by next fiscal.

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