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File image of a man counting cash at a petrol pump.

Centre earns Rs 665 crore a day from excise on oil

Excise duty on petrol was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre since Nov 2014.

30 May 2018 9:49 AM IST

Diversified ITC Ltd on Wednesday reported a 9.86 per cent increase in standalone net profit at Rs 2,932.71 crore for the fourth quarter ended March 31, 2018.

ITC Q4 net profit up 9.8 per cent to Rs 2,933 crore

The board has also recommended a dividend of Rs 5.15 per ordinary share of Re 1 each for 2017-18.

16 May 2018 2:48 PM IST

IOCs current capacity stands at about 1.62 million bpd including 230,00 bpd controlled by its subsidiary Chennai Petroleum Corp.

Centre may cut excise duty on petrol, diesel

Government faced strong criticism for holding on to higher duty on petrol and diesel to meet revenue.

14 May 2018 9:17 AM IST

Andhra Pradesh Chief Minister N Chandrababu Naidu has written to Oil Minister Dharmendra Pradhan, complaining about Gujarat government firm GSPC.

Chandrababu Naidu asks Centre to cut excise on petrol, diesel

Naidu said the Centre had between November 2014 and January 2016 hiked excise duty on petrol and diesel nine times.

11 May 2018 4:27 PM IST

Finance Minister Arun Jaitley will unveil the Union Budget 2018 on Thursday. (Photo: PTI)

Jaitley hints at no cut in excise on oil, appeals to pay taxes...

The level of non-oil taxes to GDP at 9.8 per cent in 2017-18 is the highest since 2007-08.

18 Jun 2018 4:09 PM IST

The Cabinet on Wednesday approved the National Policy on Biofuels which allows doping of ethanol produced from damaged foodgrains, rotten potatoes, corn and sugar beet with petrol to cut oil imports by Rs 4,000 crore this year alone.

Reduce oil duties to check fuel price rise, says Assocham

Over Rs 19 per litre is added to the cost on account of excise duty levied by the Centre.

8 Jun 2018 12:17 PM IST

Moodys upgrading Indias sovereign credit rating is a recognition of a series of reforms undertaken by the government, Commerce and Industry Minister Suresh Prabhu said on Friday. (Photo: AFP)

India may cut expenditure to stick to 3.3 pc fiscal deficit: Moody's

Moody's had last year upped India's sovereign rating for the first time in over 13 years to 'Baa2'.

7 Jun 2018 2:37 PM IST

Petroleum minister Dharmendra Pradhan has said the government is open to Saudi oil giant Aramcos interest to own majority stake in the proposed Rs 3-trillion refinery at Ratnagiri.

Oil Minister Pradhan rules out review of daily fuel pricing

Central govt levies Rs 19.48 excise duty on a litre of petrol and Rs 15.33 on diesel.

4 Jun 2018 4:40 PM IST

The price of petrol in Delhi climbed to Rs 75.71 per litre from Rs 75.55 and diesel to Rs 67.50 a litre from Rs 67.38.

Petrol, diesel price hiked by steepest level in a year; rates at...

Opposition parties have announced nationwide strikes and protests next week over record-high fuel prices.

7 Sept 2018 6:01 PM IST

The price of petrol in Delhi climbed to Rs 75.71 per litre from Rs 75.55 and diesel to Rs 67.50 a litre from Rs 67.38.

Rising fuel prices: TN Govt says onus on Centre to cut taxes

The Centre has said it will not cut excise duty on petrol and diesel to cushion the spiralling prices.

7 Sept 2018 1:59 PM IST

The Cabinet on Wednesday approved the National Policy on Biofuels which allows doping of ethanol produced from damaged foodgrains, rotten potatoes, corn and sugar beet with petrol to cut oil imports by Rs 4,000 crore this year alone.

Govt rules out excise duty cut as petrol, diesel prices hit fresh high

Petrol and diesel prices on Tuesday touched fresh highs as rupee dipped to a record low of 71.54 against US dollar.

4 Sept 2018 5:46 PM IST

We are not in a position to reduce sales tax on fuel, says Tamil Nadu...

He emphasised on the Central Government to reduce the excise duty on fuel products.

11 Sept 2018 1:04 PM IST