Economy

Central government cuts fuel prices by Rs 2.50 a litre in India

Central government cuts fuel prices by Rs 2.50 a litre in India

G Vinay Kumar, general secretary of Telangana Petroleum Dealers Association, said the fuel prices were more likely to see a dip from Thursday midnight. The Finance Minister said the excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues.

Elections do make governments price-sensitive. The price of crude oil, which makes up nearly 90% of oil imports, is a major factor behind the final price of petrol and diesel in the country. The revenue department will cut excise duty by Rs 1.50 and oil marketing companies will absorb Re 1 per litre. The Centre has cut excise duties only twice in the past 22 months - once in October previous year when it cut the duty by Rs 2 a litre and now by Rs 1.50. This will give huge relief to common citizens.

The decision will be announced later in the day, he said.

IPhone XS Tests Far Better Than iPhone X in LTE Speeds
Unlike other speed tests, the Phone Buff style is conducted using a specialized machine to ensure there's no margin of error. Apple iPhone XS LTE performance was compared with Samsung Galaxy Note 9 , iPhone X , as well as Google Pixel 2.

The Economic Survey had identified rising oil prices as one of the biggest risks to the Indian economy stating that it would crimp real incomes and spending.

"I am also writing to the states to make corresponding cuts in Value-Added Tax of equivalent amount so that consumers get Rs 5 relief in retail prices", he said.

He also noted that the oil marketing companies are fully competent to deal with the decision and the government was not going back on fuel price deregulation.

Damon Wayans Announces He's Quitting 'Lethal Weapon'
When pressed on the subject, Damon Wayans , referenced a classic Danny Glover line from the movies saying, "I'm done". When asked what he's planning to do next, Wayans emphasized his unhappiness.

However, the diesel prices were left untouched yesterday by the state government, which said an assessment was being made on this front.

Following this, several opposition leaders said that the government decreased the prices in lieu of upcoming elections and that the relief was too less in comparison to the surge in fuel prices over the past few months. "Tax collections are encouraging", Jaitley said.

Addressing mediapersons here, Congress spokesman Randeep Singh Surjewala called the cut "a panic reaction in the face of public anger" ahead of assembly polls in four states. "Each and every state has their own situation so first let the letter come", he said. The effective reduction would be Rs 4.06 per litre. "#FuelPriceCut", tweeted the CM. However, India's domestic indicators are quite strong and stable. "So, a total of Rs 2.50 will be reduced on both diesel and petrol", said Jaitely.

Liverpool's XI from their last match against Napoli, where are they now?
Liverpool came unstuck late on at Stadio San Paolo, as Lorenzo Insigne scored the winning goal for Napoli , who had been superior throughout.


  • Photos ; Melania Trump tours Cape coast Castle

    United States First Lady Melania Trump is expected in Kenya on Friday as part of her first solo global trip as FLOTUS. Mrs Trump was coming from Kamuzu International Airport to Kamuzu Palace during her five hours charity trip to Malawi.
    Amazon refutes report on Portland's Elemental Technologies server hack

    Amazon refutes report on Portland's Elemental Technologies server hack

    In addition to Apple and Amazon, nearly 30 companies were affected by the breach, including a major bank and government contractors.
    Brewers turn to Chacin for tiebreaker against Cubs

    Brewers turn to Chacin for tiebreaker against Cubs

    Monday, and the Brewers look to their fans to take a short journey south and bring their incredible support from home. You can stop stumbling over words to make up an excuse for why you missed work or school Monday to go to a Cubs game.
  • Juventus tweets support of Cristiano Ronaldo

    Juventus tweets support of Cristiano Ronaldo

    Mayorga's lawyers, who say she spoke again with police weeks later, naming Ronaldo and the location, but never heard back. The eventual move, costing £80m, made Ronaldo the most expensive player in the world at the time.
    Oldest Nobel Prize victor : 'I was always afraid I wasn't smart enough'

    Oldest Nobel Prize victor : 'I was always afraid I wasn't smart enough'

    At the time, scientists had been trying to figure out how to amplify high-energy laser pulses without destroying the amplifiers. Their discoveries led to very precise , powerful lasers that can cut holes in different materials, including living tissue.
    Trade deal's new name has Trump written all over it

    Trade deal's new name has Trump written all over it

    Wildeboer said the tentative USMCA deal has succeeded where other pacts have not in protecting the North American supply chain. According to reports , the us and Canada agreed to a framework on an updated treaty.
  • How is ME  affected by new USMCA trade agreement?

    How is ME affected by new USMCA trade agreement?

    Stefanik wrote in a statement. "Manitoba deeply values its trading relationships", Pallister said in a statement on Monday. Some of the general areas of disagreement were supply management, auto exports and dispute resolution mechanisms.
    Amy Schumer arrested during DC protest of Kavanaugh’s nomination

    Amy Schumer arrested during DC protest of Kavanaugh’s nomination

    She added, "Men who hurt women can no longer be placed in positions of power". A vote for Kavanaugh is a vote saying women don't matter ".
    Twitter reacts to Theresa May’s Dancing Queen moment

    Twitter reacts to Theresa May’s Dancing Queen moment

    Well aware of her limited dancing skills, she made everyone laugh at her own expense as she was seen swaying along the tunes of ABBA's Dancing Queen .
  • Key Republican senator backs Kavanaugh for U.S

    Key Republican senator backs Kavanaugh for U.S

    With their narrow margin in the Senate, Republicans can only afford to lose one vote if all Democrats vote against Kavanaugh. Kavanaugh has denied the allegation, as well as those from two other women who have accused him of sexual misconduct.
    Death toll of Indonesia's quake, tsunami climbs to 384

    Death toll of Indonesia's quake, tsunami climbs to 384

    Aid and supplies are being sent in via military and commercial aircraft, including helicopters, to reach badly affected areas. The scenic town of Palu sits at the mouth of a narrow bay in northeastern Sulawesi and is home to around 380,000 people.
    FC Barcelona - Champions League - 3 October 2018

    FC Barcelona - Champions League - 3 October 2018

    Mauricio Pochettino admits Tottenham's gameplan to deal with Barcelona was "destroyed" by Hugo Lloris' early mistake at Wembley . Losing Eriksen, Alli, Mousa Dembele and Jan Vertonghen through injury ahead of such a big night was a cruel blow for Pochettino.