duty cuts

Fuel prices in India saw their first hike in four years, with petrol and diesel increasing by Rs 3. This move aims to alleviate significant daily losses incurred by oil marketing companies, estimated at Rs 1,000 crore. While consumer inflation may see a slight uptick, the fiscal impact is considered minimal, with annual consumption expected to recover.

India's gold demand is projected to drop by 50-60 tonnes in 2026, a 10% decrease, following a significant import duty hike. The World Gold Council notes this could also boost unofficial gold inflows, a trend observed historically with higher duties. Consumer sentiment and economic factors will also play a role.

The successive hikes come after an extended period during which retail fuel prices remained unchanged, despite higher global crude prices, shrinking refining margins, and weakness in the rupee significantly increasing import costs.

Neighbouring Andhra Pradesh has an even more layered structure, according to data from the Petroleum Planning & Analysis Cell

It changed how it taxes alcohol, which made the 'premium' stuff cheaper — and it's supposed to be good for everyone. Is it?

India has moved silver imports to a "restricted" category, requiring government approval, to prevent traders from exploiting a duty gap created by a recent 15% import tax hike. This move aims to curb arbitrage opportunities through the India-UAE free trade agreement, protect foreign exchange reserves, and control precious metal inflows, while exempting export-oriented industries.

In a proactive response to the surge of complaints concerning frequent power outages, Gaya's district administration has heightened vigilance among power officials. District Magistrate Shashank Shubhankar has ordered swift measures to ensure a stable electricity supply, particularly in bustling commercial hotspots.

GFX Matter Below

CNG prices in Delhi have seen their fourth hike in under 15 days, increasing by Rs 2 per kg. This follows recent increases in petrol and diesel rates, with Delhi petrol crossing Rs 100 per litre. These consecutive hikes are expected to raise transport costs and potentially impact inflation.

In a move to bring relief to families this summer, Chancellor Rachel Reeves has rolled out an unexpected VAT reduction on seasonal attractions, drastically lowering it from 20% to a mere 5%. This initiative, dubbed 'Great British Summer Savings,' is designed to encourage families to indulge in more recreational activities.