#Excise duty on diesel

[wordexpress]

Nirmala Sitharaman's prediction for India's economy as IMF cuts global growth

Nirmala Sitharaman said growth will be among the top priorities of the Narendra Modi government and attention will be paid to sustaining the momentum that the Indian economy has got coming out of the Covid-19 pandemic.

Union finance minister Nirmala Sitharaman, who is in the US to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank, on Tuesday forecasted India’s growth rate to be around 7 per cent this financial year.

Sitharaman said growth will be among the top priorities of the Narendra Modi government and attention will be paid to sustaining the momentum that the Indian economy has got coming out of the Covid-19 pandemic.

Her statement comes even as the IMF, in its latest projection, predicted India’s GDP growth to be 6.8 per cent — down from a January projection of 8.2 per cent and in July estimate of 7.4 per cent. However, despite the slowdown, India would remain the fastest-growing major economy.

The IMF said on Tuesday global growth is expected to slow further next year, downgrading its forecasts as countries grapple with the fallout from Russia’s invasion of Ukraine, spiraling cost-of-living and economic downturns.

The world economy has been dealt multiple blows, with the war in Ukraine driving up food and energy prices following the coronavirus outbreak, while soaring costs and rising interest rates threaten to reverberate around the globe.

“I am aware that growth forecasts around the world are being revised lower. We expect India’s growth rate to be around 7 per cent this financial year. More importantly, I am confident of India’s relative and absolute growth performance in the rest of the decade,” she said addressing a gathering in Washington.

Sitharaman, however, observed that the Indian economy is not exempt from the impact of the world economy. “No economy is,” she said.

“After the unprecedented shock of the pandemic, came the conflict in Europe with its implications for energy, fertiliser and food prices. Now, synchronised global monetary policy is tightening in its wake. So, naturally, growth projections have been revised lower for many countries, including India. This triple shock has made growth and inflation a double-edged sword,” Sitharaman said.

After the Russia-Ukraine conflict started in February 2022, there was a sharp increase in food and energy prices. India had to ensure that the rising cost of living did not lead to lower consumption through erosion of purchasing power.

“We addressed these multiple and complex challenges through a variety of interventions. One, India ramped up its vaccine production and vaccination. India has administered over 2 billion doses of vaccine produced domestically. Two, India’s digital infrastructure ensured the delivery of targeted relief Third, in 2022, after the conflict erupted in Europe, we ensured adequate availability of food and fuel domestically, lowered import duties on edible oil and cut excise duties on petrol and diesel. The central bank has acted swiftly to ensure that inflation did not get out of hand and that currency depreciation was neither rapid nor significant enough to lead to a loss of confidence,” the minister said.

Sitharaman said India is discussing with different countries to make Rupay acceptable in their nations.

“Not just that, the UPI (Unified Payments Interface), the BHIM app, and NCPI (the National Payments Corporation of India) are all now being worked in such a way that their systems in their respective country, however, robust or otherwise can talk to our system and the inter-operability itself will give strength for Indians expertise in those countries,” she said.

[new-haryanvi-ragni]

Petrol, Diesel Price today, December 6: Check latest fuel rates in your city

Petrol, Diesel Price today, December 6: Check latest fuel rates in your city

The Center reduced the excise duty on gasoline by Rs 8 per litre and on diesel by Rs 6 per litre in May of this year, which resulted in the last big decrease in fuel prices. source https://zeenews.india.com/economy/petrol-diesel-price-today-december-6-check-latest-fuel-rates-in-your-city-2544542.html

[chemanalystdata]

Diesel Prices Trend, Pricing, Database, Index, News, Chart, Forecast

 Diesel prices are a vital economic indicator that profoundly impacts various sectors, from transportation to agriculture and manufacturing. Understanding the dynamics behind diesel pricing requires a multifaceted approach, considering factors such as global oil markets, geopolitical tensions, refining capacity, transportation costs, and government policies.

At the core of diesel price fluctuations lies the global oil market, where supply and demand dynamics play a pivotal role. The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil-producing nations collectively influence oil prices through production quotas and agreements. Geopolitical tensions, conflicts, and natural disasters in major oil-producing regions can disrupt supply chains, leading to price spikes. Moreover, economic growth, particularly in emerging markets, fuels demand for diesel and other petroleum products, contributing to price volatility.

Refining capacity and infrastructure also influence diesel prices. Refineries convert crude oil into various petroleum products, including diesel fuel. Maintenance shutdowns, accidents, or operational issues at refineries can disrupt diesel production, leading to supply shortages and price increases. Additionally, investments in refining infrastructure and technology impact the efficiency of diesel production, affecting prices in the long term.

Get Real Time Prices of Diesel: https://www.chemanalyst.com/Pricing-data/diesel-1476

Transportation costs are a significant component of diesel prices, especially for landlocked regions or areas with limited access to refineries. The cost of transporting crude oil to refineries and diesel fuel to distribution points influences the final price consumers pay at the pump. Infrastructure investments, such as pipelines, railways, and shipping routes, play a crucial role in mitigating transportation costs and ensuring the efficient distribution of diesel fuel.

Government policies and regulations also shape diesel prices. Taxes, subsidies, environmental regulations, and fuel standards imposed by governments can significantly impact the cost of diesel fuel. Taxation policies, such as excise duties and value-added taxes, directly affect the retail price of diesel, with higher taxes leading to increased prices for consumers. Moreover, environmental regulations aimed at reducing emissions often require investments in cleaner diesel technologies, which can influence production costs and, consequently, retail prices.

The interplay of these factors creates a complex landscape for diesel pricing, with prices varying regionally and over time. While consumers are directly affected by fluctuations in diesel prices, businesses across various sectors also feel the impact. Transportation companies face higher operating costs when diesel prices rise, leading to potential price adjustments for goods and services. Agricultural producers rely on diesel fuel for machinery and irrigation, making them vulnerable to price volatility. Similarly, manufacturing industries heavily reliant on diesel-powered machinery may experience cost pressures during periods of elevated diesel prices.

Mitigating the impact of diesel price volatility requires a multifaceted approach involving stakeholders across the supply chain. Governments can implement policies aimed at stabilizing diesel prices through strategic reserves, subsidies, or tax incentives. Investing in renewable energy sources and alternative fuels can also reduce dependence on diesel fuel, providing long-term energy security and price stability.

Businesses can adopt strategies to improve fuel efficiency, optimize logistics, and hedge against price fluctuations through futures contracts or fuel price hedging mechanisms. Embracing technological innovations, such as hybrid and electric vehicles, can further reduce reliance on diesel fuel and mitigate the impact of price volatility on operating costs.

In conclusion, diesel prices are influenced by a complex interplay of factors, including global oil markets, refining capacity, transportation costs, and government policies. Fluctuations in diesel prices have far-reaching implications for consumers and businesses across various sectors, highlighting the importance of understanding and managing diesel price volatility. By implementing strategic measures at the policy, industry, and individual levels, stakeholders can mitigate the impact of diesel price fluctuations and ensure a more stable and sustainable energy future.

Get Real Time Prices of Diesel: https://www.chemanalyst.com/Pricing-data/diesel-1476

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[avaaltechnologysolutions]

1. Advantages and disadvantages of various vehicle types: Different vehicle types have their own pros and cons. For instance, trucks are best for long-term cargo hauling due to their durability and ample room.

2. Ensuring goods’ safety while being transported: This involves proper packaging, securing the load, regular inspections, adhering to safety regulations, and using reliable transportation methods.

3. Steps to start a truck business: Key steps include performing market analysis, drafting a business plan, developing a brand, formalizing business registration, acquiring necessary licenses and permits, securing funding, setting pricing, and acquiring equipment.

4. Frequency of gasoline tax payment: The central and state governments of India levy taxes on petrol and diesel. The central authorities apply excise duty at the rates of Rs.19.90/litre and Rs.15.80/litre respectively.

5. Completing a contract with a factoring firm: This involves finding a reputable factor, providing them with information about your accounts receivable and customers, selling the approved invoice to the factor, and receiving a percentage of the total amount immediately.

6. Locating a driver: This can be done using the Device Manager in Windows, the Run window, the Command Prompt, or a free third-party utility.

7. Benefits of Hot Shot Loading: Hotshot deliveries are known for their cost-effectiveness, speed, flexibility, and efficient logistics.

8. Using the TMS to look for loads: Avaal TMS is a transportation management software that allows you to find and bid on loads.

9. Discussion with a broker: This involves understanding the broker’s requirements, negotiating terms, and building a professional relationship. It’s important to ask the right questions and provide accurate information about your capabilities and needs.

10. Definition of Rate Confirmation: A rate confirmation is a document that outlines the details of a shipment, including the rate, pickup and delivery locations, and other relevant information. It is agreed upon by both the carrier and the broker or shipper.

11. Bill of Lading: A Bill of Lading is a legal document between the shipper and carrier detailing the type, quantity, and destination of the goods being carried. It serves as a shipment receipt when the carrier delivers the goods at the predetermined destination.

12. Where to look for a job as a dispatcher: Job opportunities for dispatchers can be found on job search websites, company websites, industry-specific job boards, and networking events.

13. Papers necessary for freight clearance: These may include a Bill of Lading, Commercial Invoice, Packing List, and a Certificate of Origin. The exact documents required can vary depending on the nature of the goods and the specific regulations of the importing and exporting countries.

14. Nuances regarding contract termination: This refers to the specific conditions and procedures for ending a contract, which can vary based on the terms of the contract and the laws of the jurisdiction.

15. U.S. trucking industry jargon: This refers to the specific terms and phrases commonly used in the U.S. trucking industry. Examples include “deadhead” (traveling with an empty cargo load), “reefer” (a refrigerated trailer), and “bobtail” (a semi-truck operating without a trailer).

16. Lessons in Marketing: This could cover a wide range of topics, from understanding your target audience and developing a marketing strategy, to leveraging digital marketing tools and measuring the effectiveness of your marketing efforts.

[earaercircular]

Mega subsidies for fossil fuels

Fossil fuels are massively subsidised worldwide. The IMF started calculating and arrived at a total subsidy amount of 7 trillion dollars.[1]

Kerosene, the fuel used to power aircraft, is not subject to excise duties. Belgium has permanently reduced VAT on gas. Diesel for the professional market enjoys a lower excise duty. Fuel cards for company cars are fiscally advantageous.

These are just a few of the many ways in which fossil fuels are handled with kid gloves by the tax authorities. But Belgium is not the only country where this happens. Worldwide, the burning of fossil fuels yield $ 7,000 billion more to the tax authorities than is currently the case, the IMF has calculated. That is 7.1 percent of global worldwide GDP.

Of that amount, 18 percent is awarded in the form of explicit subsidies: direct financial interventions in the selling price. In 2020, those explicit subsidies still accounted for USD 500 billion, compared to USD 1,300 billion last year. This also includes government interventions to compensate the effects of the high energy price. Think of the 'basic packages' that the Belgian government paid to energy consumers last winter. They are expected to decrease again

"Efficient" price

The IMF also considers unaccounted for costs for global warming, traffic congestion and air pollution as subsidies. It is about the difference between what petrol costs at the pump and what petrol would have to cost to slow down consumption enough to limit warming to 1.5 degrees. The latter price is called the 'efficient' price. Last year, 80 percent of all coal was sold at less than half the efficient price.

These implicit subsidies will continue to rise, the IMF expects. This is because the use of fossil fuels is still increasing, especially in non-Western countries. In those countries, the impact on global warming and air pollution is greater. The total grant amount is expected to exceed 8 percent of global GDP by 2030.

If all fuels were sold at efficient prices, for example by introducing a global carbon tax, it would generate a huge sum: $4,4 trillion or 3.6 percent of global GDP. Driving, flying and heating would therefore become much more expensive. But if the proceeds are used to reduce labour costs, for example, the effect may be neutral on balance. In that case, CO emissions would fall by 43 percent in the next 7 years. It would also prevent 1.6 million premature deaths from air pollution. “Even if you don't factor in the climate benefits, reforming fuel prices is beneficial because of cleaner air and elimination of price distortions.”

The most extreme examples of subsidising fossil fuels can be found in countries such as Saudi Arabia and Iran. Because those countries produce a lot of oil, gasoline and diesel cost very little at the pump, often even less than it costs to pump, refine and transport the oil. In European countries such as Germany, France and Italy, the price of a litre of petrol is close to the efficient price, and sometimes even slightly above it.

But for coal and gas, the European countries also fail to achieve the efficient price. However, the largest subsidies are awarded in non-Western countries. Indonesia, Turkey and China would have to multiply the price of coal or gas to arrive at an efficient price.

Europe is still a relatively good student, the IMF notes. The EU accounts for 310 billion of the total amount. That is less than India or Russia. The US comes out at 760 billion. By far the largest subsidy provider is China, with USD 2,200 billion.

Less than the Netherlands, more than Denmark

The IMF has performed calculations for 170 individual countries. So also for Belgium. The explicit subsidies (direct interventions in the selling price) mainly concern the gas market. Last year it was 4.1 billion dollars (3.8 billion euros). Implicit subsidies (including reduced taxes, but also climate and pollution costs that have not been taken into account) are particularly relevant for diesel: 4.6 billion euros. The implicit subsidies total 8.9 billion euros. Less than the Netherlands (13.9 billion euros), but more than Denmark (2.2 billion).

For Germany, the IMF has also calculated what the effect of an optimal fuel price reform would be. If all fossil fuels were sold at “efficient” prices, it would cost $12 billion but generate $18 billion in environmental benefits. There would be 20 percent fewer deaths from air pollution, and 15 percent fewer greenhouse gases.

Source

Ruben Mooijman, Megasubsidies voor fossiele brandstoffen, in: De Standaard, 25-08-2023, https://www.standaard.be/cnt/dmf20230824_96591052

[1] This paper provides a comprehensive global, regional, and country-level update of: (i) efficient fossil fuel prices to reflect supply and environmental costs; and (ii) subsidies implied by charging below efficient fuel prices. Globally, fossil fuel subsidies were $7 trillion in 2022 or 7.1 percent of GDP. Explicit subsidies (undercharging for supply costs) have more than doubled since 2020 but are still only 18 percent of the total subsidy, while nearly 60 percent is due to undercharging for global warming and local air pollution. Differences between efficient prices and retail fuel prices are large and pervasive, for example, 80 percent of global coal consumption was priced at below half of its efficient level in 2022. Full fossil fuel price reform would reduce global carbon dioxide emissions to an estimated 43 percent below baseline levels in 2030 (in line with keeping global warming to 1.5-2oC), while raising revenues worth 3.6 percent of global GDP and preventing 1.6 million local air pollution deaths per year. Accompanying spreadsheets provide detailed results for 170 countries. https://www.imf.org/en/Publications/WP/Issues/2023/08/22/IMF-Fossil-Fuel-Subsidies-Data-2023-Update-537281#:~:text=Globally%2C%20fossil%20fuel%20subsidies%20were,warming%20and%20local%20air%20pollution.

[hardynwa]

NECA commends Tinubu’s tax reforms, advocates additional modifications

The Nigerian Employers’ Consultative Association has lauded the decisive actions taken by President Bola Tinubu in fostering a more conducive business climate in Nigeria through strategic tax reform measures. NECA’s Director-General, Mr Adewale-Smatt Oyerinde, made the commendation in a statement on Thursday following Tinubu’s signing of four executive orders. The News Agency of Nigeria reports that the president had earlier signed four Executive Orders which includes the suspension of the five per cent excise tax on telecommunication services as well as the excise duties escalation on locally manufactured products. The director general said: “In this context, Tinubu’s bold intervention through several Executive Orders has been welcomed with great enthusiasm. “Particularly notable are the suspension of the five per cent excise tax on telecommunication services and the excise duties on items like tobacco, beer, wine/spirits, and the 10 per cent green tax by way of excise tax on Single Use Plastics. “Additionally, the Import Tax Adjustment of two per cent and four per cent on imported motor vehicles of varying engine capacities has been put on hold. The director general, however, said there was need for further action, expressing the necessity to reconsider the introduction of Value Added Tax of 7.5 per cent on Automated Gas Oil or diesel and the outdated practice of minimum taxation. According to him, these issues, if not addressed, threaten to undermine the gains made by the recent reforms. “Our businesses continue to be weighed down by these additional tax burdens; it is high time we reviewed such practices that deter economic growth and create hurdles in the path of doing business, “ he said. Oyerinde reaffirmed the association’s commitment to collaborate closely with the current administration, advocating for further policy changes that could significantly enhance the Nigerian business environment and contribute to national economic prosperity. Read the full article

[aditya-kapoor]

Government policies and taxes affecting diesel prices in Meghalaya

Government policies and taxes play a pivotal role in determining the diesel prices in Meghalaya. Like many states, Meghalaya imposes various taxes and levies on diesel, which directly impact its final cost to consumers. These taxes include the state excise duty, value-added tax (VAT), and central excise duty. Moreover, the government's policies on fuel subsidies, import duties, and international crude oil prices also influence the overall diesel price. Understanding the dynamics of these factors is crucial for comprehending the diesel price fluctuations in Meghalaya. As a result, consumers and businesses alike closely monitor the diesel prices in Meghalaya to assess their impact on transportation costs and economic activities.

[evaskaenergy8]

How Solar Power Is The Answer To The Power Crisis In India?

Even though we are the world's most significant coal producer, the country continues to face a coal supply shortage. This scarcity is becoming an essential contributor to India's electricity issue. The difficulty with evacuating and storing coal in the thermal power plant caused a supply shortage. Because of the unusual weather changes worldwide, the price of coal imports has risen, resulting in severe scarcity.

As a result, power outages are still widespread throughout India, with over 500 communities unable to access electricity. According to official statistics, India was able to fulfill the aim of 100% electrification in 2018, but unfortunately, this assertion is only limited to newspapers and articles. In actuality, the city is in better shape than in recent years, but the overall total for the country remains depressing.  

Following the Covid-19 period, the Indian manufacturing sector resumed operations and made additional attempts to recoup from the pandemic's losses. Population growth is also a major factor in the country's electrical supply.

The rising demand for electricity and the increasing rate of the power crisis give the country a chance to reduce its reliance on traditional electricity producers (Fossil Fuels) and expand its usage of renewable energy offered by our mother nature. An excellent environmentally friendly solution to the power crisis dilemma.

The sun is the only 100% cost-effective and environmentally friendly answer to India's electricity dilemma

Solar energy is the solution to all electricity-related problems. You may utilise electricity without affecting the environment by installing a high-quality solar system on your rooftop. Solar power panels are the simplest and quickest answer to all energy concerns, particularly in rural areas, which house around 65% of the country's population. 

Evaska Energy solar solutions are ideal for any sort of rooftop or land, and for any use, whether industrial, residential, hospitality, or any other form of energy demands. Solar panels are the only outstanding low-cost, high-tech answer. Evaska Energy has successfully established itself as the best solar power company in Noida, offering mini-grid and off-grid solar power installation solutions with minimal maintenance and trouble-free installation.

The continued expansion of solar panels directly impacts India's electricity issue

Since 2013, the usage of solar power panels in India has grown slowly but has increased by 72 MW per year to 227 MW per year. This is owing to the government's many solar panel subsidy programmes, tax vacations, and excise duty exemptions, which have increased the installation of solar power panels. However, there is still need more work to be done to increase the usage of solar solutions in India.

According to a government report, states, including Tamil Nadu, Maharashtra, and Gujarat, are making significant headway in installing solar panels on their rooftops. 

Which one do you believe helps to alleviate India's electricity issue - Solar versus Diesel

According to a recent study, the power provided by Solar Power Panels is less expensive than diesel-generated electricity. Diesel generators are now largely used in India when grid access is low. According to research conducted by the Centre for Science and Environment, diesel generators cost between 15-20 units of energy, but solar panels cost just approximately INR 5-6 units. This research covers the states of Delhi, Uttar Pradesh, Haryana, and Rajasthan. 

Surely!! Everyone who reads this essay should consider getting solar if they haven't already. If you are also debating whether to go solar, please contact Evaska Energy, a leading solar power company in Greater Noida with a professional team of engineers who will collaborate with you, listen to all your concerns and worries, and then specially customise the best quality solar power solution for your rooftops.

Let us look at some of the advantages of solar energy

It reduces the demand for coal: solar energy generation is at its peak during the day. This is also a period when there is a significant demand for power. If individuals can get the same results as coal-based electricity with solar panels, their reliance on coal will be reduced. 

Increases grid security:- with local and big-scale solar power solutions installed across the states, the number of energy generation centres increases. Solar electricity is being deployed on utility grids, which improves system security. Strong networks, such as Evaska Energy's, reduce the likelihood of frequent blackouts.

Reduce your power bills: As the cost of electricity rises, so does productivity, particularly in industrial locations. Evaska Energy offers the best industrial solar panel price with low initial instalments.

Evaska Energy has effectively built its status as the leading solar power provider by implementing 100% highest quality solar solutions throughout India, which offers cost-effective, simple, dependable, and low-maintenance residential, commercial, and industrial solar systems. So, if you're seeking high-quality solar solution suppliers, Evaska Energy is the firm to call. Visit the official website of Evaska Energy or give us a call right now. 

Source: https://www.evaskaenergy.com/blog/how-solar-power-is-the-answer-to-the-power-crisis-in-india

[myhelpbooks]

Petrol prices in Chandigarh are determined by the international crude oil market. The current price of petrol in Chandigarh is ₹ 79.51 per litre. This price may vary from day to day depending on the fluctuation in the international crude oil market. The price of petrol in Chandigarh is set by the Indian Oil Corporation (IOCL) which is the largest oil marketing company in India. It is based on the average cost of crude oil in the international market. The IOCL also adds taxes which are applicable on petrol purchases in Chandigarh. The price of petrol in Chandigarh is also affected by the taxes levied by the Government of Punjab. The state government levies Value Added Tax (VAT), Central Excise Duty (CENVAT) and a road cess. All these taxes are included in the price of petrol in Chandigarh.

[best2daynews]

Petrol and diesel price may rise as duty hiked by Rs 3 per litre over global prices

Government has taken the bait provided by unusually low global oil prices to raise excise duty on petrol and diesel to raise revenue that has been severely impacted by a slowing economy.

[new-haryanvi-ragni]

Union government slashes windfall gains tax on domestic crude oil to zero | Details inside

Windfall gains tax: The government has cut windfall gains tax on domestically-produced crude oil to nil while continuing the rate at zero on the export of diesel and ATF. The government has slashed the Special Additional Excise Duty (SAED) on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) to nil from Rs 4,100 per tonne with effect from Tuesday, an official order…

[trading-apps]

What’s in Store for Oil Stocks After the Latest IEA Forecast?

The stock markets have had a shaky start in 2023, fuelled further by the routing of Adani shares with the release of the scathing Hindenburg report. Not far behind, various commodities, such as oil, have had a shaky start, as the jury is still out on China’s recovery.

The IEA Report

Against this backdrop, the IEA has released its monthly report stating a rise in global demand for oil by two million barrels per day, which will take the world's oil consumption to 101.9 million bbl. Even more so, it expects the oil markets to see a surplus as the Russian supply continues to be robust.

With China opening its doors again and the USA all set to refill its strategic reserves, the oil demand will remain buoyant in the first half of 2023. However, this may change after June, with the kicking in of the sanctions on Russian oil. 

Moreover, monetary tightening and recessionary fears may play a spoilsport for future oil demand. Besides, Russia has announced its plans to cut down oil output by a million barrels per day (bbl/d), against the IEA’s initial estimates of 1.6 million bbl/d.

But how will it pan out for oil stocks in India?

The Fortune Favours the Oil Conglomerate

With the oil demand set to hit a record high in FY23, refining margins could improve significantly, benefiting Reliance Industries (RIL). Besides, RIL’s SEZ refinery is already exempt from the levy of windfall taxes and additional excise duty (SAED) charges.

Moreover, refiners have seen their margins squeezed owing to the waning diesel spreads. This has been aggravated by the EU’s decision to build its stockpile before the sanctions on Russian gas and oil go into effect. The rise in demand, complemented by slower refinery throughput, will bode well for refining margins.

OMCs’ Stars Lack Sheen

But these positives are unlikely to flow for oil-marketing companies (OMCs) that are already reeling under heavy losses from 2022. This is because, despite an elevation in crude prices, the Indian government forced their hand by not allowing for a corresponding rise in retail prices.

Subsequently, while the PSU OMCs (HPCL, BPCL, and IOCL) did experience strong top lines in FY22, their bottom lines left a lot to be desired. This was reflected in the 20% and 10% drops in HPCL and BPCL share prices in the last year, respectively. 

On an aggregate level, OMCs have already posted losses exceeding Rs. 27,000 crore in the first six months of FY23. This is despite the moderation in oil prices over the strong Russian supply and the EU’s stockpiling efforts. They have stated under-recoveries totalling Rs. 1.1 lakh crores from petrol and diesel sales that have been cross-subsidised with ATF and naphtha sales.

Having said that, BPCL may still be able to post better performance, considering its high refining-to-marketing ratio. Moreover, relative to its peers, BPCL has better ROCE fundamentals. 

Additionally, IOC’s shares may remain resilient, as its business model is more refining-driven vis-à-vis HPCL and BPCL, thereby making its fortunes less dependent on marketing margins. But heavy debt pileups—the IOC’s gross debt went up by 30%—can be a cause for concern.

Finally, with the nation set to go to elections next year, the chances of retail price hikes seem bleak, which can further dampen the shine of oil companies in the stocks market.

Are you planning to invest in the stock market? Build your portfolio today with a free Demat account on Angel One’s smart app.

[theechudar]

Check Fuel Prices in Lucknow, Gandhinagar And Other Cities on January 16

Check Fuel Prices in Lucknow, Gandhinagar And Other Cities on January 16

Fuel Rates On January 16, 2023: Check Petrol And Diesel Prices In Your City Today. Ever since the government slashed the excise duty on the two primary automotive fuels in the country on May 21, 2022, a price freeze has been in place. India is on track to bolster its energy security with research in 20 per cent ethanol-blended petrol and talks of purchasing oil from Guyana in the long term.…

[guptachandanassociates]

Special Additional Excise Duty reduced on export of High Speed Diesel Oil: Notification

Special Additional Excise Duty reduced on export of High Speed Diesel Oil: Notification

 ​    Notification No. 39/2022-Central Excise dated … Continue reading “Special Additional Excise Duty reduced on export of High Speed Diesel Oil: Notification” The post Special Additional Excise Duty reduced on export of High Speed Diesel Oil: Notification appeared first on Taxmann Blog.  Notification No. 39/2022-Central Excise dated November 16th, 2022 The CBIC has issued notification to reduce…

[aditya-kapoor]

Government policies and taxes affecting diesel prices in Haryana

Government policies and taxes play a significant role in determining the diesel prices in Haryana. The state government imposes various taxes and levies on diesel, which directly influence the final retail price. These taxes are aimed at generating revenue for the government and regulating the consumption of diesel. Moreover, changes in national policies, such as excise duties and subsidies, also impact the cost of diesel in Haryana. With the aim of promoting cleaner energy sources, the government often introduces measures that may affect the demand and pricing of diesel. Therefore, understanding the intricacies of government policies and taxes is crucial to comprehend the fluctuations in diesel prices in Haryana.