Govt Cuts Petrol, Diesel Prices by Rs 2.50, Asks States to Lower Taxes

Agencies
October 4, 2018

New Delhi, Oct 4: The Centre on Thursday announced Rs 2.50 litre cut in petrol and diesel prices.

The reduction will include a Rs 1.5 cut in excise duty and another Re 1 will be borne by oil market companies, said Finance Minister Arun Jaitley.

Jaitley said the excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues.

He also asked state governments to follow suit by cutting a sales tax or VAT by a similar amount.

The reduction followed petrol and diesel prices touching new highs.

In Delhi, where the fuel prices are the lowest among all metros and most state capital, petrol is sold at Rs 84 per litre and diesel at Rs 75.45.

Jaitley said the move followed Brent crude oil touching four-year high of USD 86 a barrel Wednesday and interest rates in US reaching seven-year high.

Inflation in India, however, is still moderate at less than 4 percent and higher direct tax collections give comfort with regard to fiscal deficit, he said adding domestic macroeconomic indicators are strong and stable, except for current account deficit (CAD).

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News Network
December 15,2025

Mangaluru, Dec 15: Air India Express has announced that it will resume direct flight services between Mangaluru and Muscat from March 2026, restoring an important international air link for passengers from the coastal region.

Airport authorities said the service will operate twice a week—on Sundays and Tuesdays—from March 1. The initial flights are scheduled on March 3, 8 and 10, followed by March 15 and 17, with the same operating pattern to continue thereafter. The flight duration is approximately three hours and 25 minutes.

The Mangaluru–Muscat route was earlier operated under the 2025 summer schedule, with services beginning on July 14. At that time, Air India Express had operated four flights a week before suspending the service.

Officials said the summer schedule will come into effect from March 29, after which changes in flight timings and departure schedules from Mangaluru are expected. Passengers have been advised to check the latest schedules while planning their travel.

The resumption of direct flights to Muscat is expected to significantly benefit expatriates, business travellers and others, further strengthening Mangaluru’s air connectivity with the Gulf region.

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News Network
December 19,2025

Saudi Arabia has abolished fees on expatriate workers employed in licensed industrial establishments, signaling a strong push to empower national factories and enhance the Kingdom’s global industrial competitiveness. The move reflects the leadership’s commitment to building a sustainable and resilient industrial economy under Saudi Vision 2030.

The decision was approved by the Council of Ministers, chaired by Crown Prince and Prime Minister Mohammed bin Salman, following a recommendation from the Council of Economic and Development Affairs (CEDA). It forms part of a broader strategy to support, modernize, and strengthen the industrial sector.

By removing fees on foreign workers, industrial establishments gain greater operational flexibility and relief from financial pressures. This is expected to help factories expand production, improve efficiency, and compete more effectively in international markets, while reinforcing long-term sustainability.

The initiative aligns closely with Saudi Vision 2030, which identifies industry as a key pillar of economic diversification. A competitive and resilient industrial base is viewed as essential for driving innovation, attracting investment, and sustaining long-term economic growth.

Overall, the fee exemption underscores the Kingdom’s commitment to creating a supportive environment for industrial development and ensuring that Saudi factories remain globally competitive and capable of leading the nation’s economic transformation.

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News Network
December 22,2025

The Bharatiya Janata Party (BJP) received ₹6,654.93 crore in donations during the 2024-25 financial year — a Lok Sabha election year — registering a 68 per cent increase over the previous fiscal.

In its annual contribution report submitted to the Election Commission on December 8, two days ahead of the deadline, the BJP disclosed all donations exceeding ₹20,000. The report, now available on the Commission’s website, covers contributions received between April 1, 2024 and March 30, 2025 — a period marked by the general election and Assembly polls in Arunachal Pradesh, Sikkim, Andhra Pradesh, Odisha, Jammu and Kashmir, Haryana, Jharkhand, Maharashtra and Delhi.

The BJP, the world’s largest political party by membership, had reported donations of ₹3,967 crore in 2023-24. The latest figures represent the party’s highest donation receipts in the last five years.

Electoral trusts accounted for around 40 per cent of the BJP’s total donations. The Prudent Electoral Trust contributed ₹2,180 crore, followed by the Progressive Electoral Trust with ₹757 crore and the New Democratic Electoral Trust with ₹150 crore. Contributions from other electoral trusts together amounted to ₹3,112.5 crore. The remaining funds came from corporate donors and individuals. Electoral trusts are entities set up by companies to channel donations to political parties.

Among major corporate contributors, Serum Institute of India donated ₹100 crore, Rungta Sons Private Limited ₹95 crore, Vedanta ₹67 crore, and Macrotech Developers (formerly Lodha Developers) ₹65 crore. Three Bajaj Group companies together contributed ₹65 crore, while Derive Investments donated ₹50 crore.

Other notable donors included Malabar Gold (₹10 crore), Kalyan Jewellers (₹15.1 crore), Hero Group (₹23.65 crore), Dilip Buildcon Group (₹29 crore), ITC Limited (₹35 crore), Wave Industries (₹5.25 crore) and Zerodha’s investment firm, promoted by Nikhil Kamath, which contributed ₹1.5 crore.

Several BJP leaders also made individual donations. Assam Chief Minister Himanta Biswa Sarma donated ₹3 lakh, Assam minister Pijush Hazarika ₹2.75 lakh, Union Education Minister Dharmendra Pradhan ₹1 lakh, Odisha Chief Minister Mohan Charan Majhi ₹5 lakh, Indore Mayor Pushyamitra Bhargava ₹1 lakh, and Akash Vijayvargiya, son of senior BJP leader Kailash Vijayvargiya, also donated ₹1 lakh, among others.

In contrast, most opposition parties reported a sharp decline in donations. The Congress received ₹522.13 crore in 2024-25, a fall of about 43 per cent from ₹1,129 crore in the previous year. The Trinamool Congress saw donations drop to ₹184.08 crore from ₹618.8 crore, while the Bharat Rashtra Samithi reported just ₹15.09 crore, down from ₹580 crore.

The Aam Aadmi Party, however, recorded an increase, collecting ₹39.2 crore compared to ₹22.1 crore last year. The Telugu Desam Party received ₹85.2 crore in donations, down from ₹274 crore, but also earned ₹102 crore through fees and subscriptions. The Biju Janata Dal reported ₹60 crore in donations, compared to ₹246 crore in the previous fiscal.

The 2024-25 financial year is also the first without electoral bonds, after the Supreme Court struck down the scheme as unconstitutional in February 2024. Since its introduction in 2018, the electoral bond scheme had enabled political parties to receive over ₹16,000 crore in anonymous donations, with the BJP receiving the largest share. 

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