CM Bommai hints at reducing taxes on fuel in Karnataka as prices touch all-time high

News Network

October 17, 2021

Bengaluru, Oct 17: Karnataka Chief Minister Basavaraj Bommai on Sunday hinted at reducing cess and sales tax on petrol and diesel in the state to ease the fuel prices which have touched an all-time high.

Speaking to the media, Bommai said it all depends on the economy. "I have called an economic review meeting. If the economic situation seems to be good, there is possibility for the consideration," he added.

Earlier, the Chief Minister had rejected any tax deduction on fuel in the state. The petrol price has reached Rs 109.16 per litre and diesel price has touched Rs 100 in Karnataka.

The Opposition Congress has demanded a reduction of taxes on fuel on similar lines of the Tamil Nadu government which has reduced the taxes on petrol by Rs 3 per litre.

The Congress has blamed the ruling Bharatiya Janata Party governments for the hike in fuel prices.

Bommai had defended that during the United Progressive Alliance (UPA) government, fuel prices had increased by 60 per cent between 2004 and 2014 while fuel prices have risen by 30 per cent in seven years of Prime Minister Narendra Modi's government.

Leader of Opposition Siddaramaiah targeted the present BJP government, saying that inflation under its tenure is nothing but criminal loot.

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India’s Modi govt will buy oil from Venezuela, not Iran: Trump’s big claim

News Network

February 1,2026

US President Donald Trump on Saturday claimed that the government of India led by Prime Minister Narendra Modi has made a deal to buy Venezuelan oil, as opposed to purchasing it from Iran.

"We've already made that deal, the concept of the deal," he told reporters on Air Force One.

Trump had imposed 25% tariffs on countries buying Venezuelan oil, including India, in March 2025. He had also hit India with tariffs for buying Russian oil, saying it was "funding" President Vladimir Putin's war against Ukraine.

Trump has said that the US has taken control of the oil-rich Venezuela after capturing former President Nicolas Maduro in January.

A fleet of 18 ships loaded with crude oil bound for refineries in Texas, Louisiana, and Mississippi in January, the most since December 2024, according to a report by the news agency Bloomberg.

Combined crude deliveries to the US will reach about 2,75,000 barrels a day, more than doubling volumes seen in December last year. Shipments to China, which averaged 4,00,000 barrels a day last year, fell to zero in January.

PM Modi, Venezuelan President Agree To Expand Ties

Prime Minister Narendra Modi and Venezuela's acting President Delcy Rodriguez spoke on Friday and agreed to take the bilateral relations to "new heights" in the years ahead.

It was the first phone call between the two leaders since the capture of Maduro and his wife by the US on January 3.

"Spoke with Acting President of Venezuela, Ms. Delcy Rodriguez. We agreed to further deepen and expand our bilateral partnership in all areas, with a shared vision of taking India-Venezuela relations to new heights in the years ahead," PM Modi said in a post on X.

A statement from Prime Minister Modi's office said the two leaders agreed to further expand and deepen the India-Venezuela partnership in all areas, including trade and investment, energy, digital technology, health, agriculture, and people-to-people ties.

They exchanged views on various regional and global issues of mutual interest and underscored the importance of their close cooperation for the Global South, the statement said.

Rodriguez also said that they discussed partnerships in the fields of agriculture, science and technology, mining, and tourism, as well as the pharmaceutical and automotive industries.

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