If trends observed in the first 15 days extend to all of August, then this would be a second monthly decline in diesel sales following an initial rebound when India reopened.
While diesel demand typically falls at this time of the year due to the monsoon, the decline exceeds the 8% month-on-month drop at the same point last year.
Delhi CM Arvind Kejriwal announced the reduction in VAT on diesel from 30 per cent to 16.75 per cent. This will bring down the price from Rs 82 to Rs 73.64.
While oil PSUs have regularly revised ATF & LPG prices, they had since 16 March kept prices on hold, amid extreme volatility in the international oil markets.
The global oil slump has given Modi govt the cushion to hike fuel taxes to meet revenue shortfalls. But retail fuel prices still hover around pre-Covid-19 levels.
Nobody is safe in a market where competition is stunted and choice limited. For the industry, meaningful reform will have to start with the government itself.
Data shows re-alignment in India’s exports, with Tamil Nadu & Telangana posting strong growth in 2024-25 as traditional heavyweights Gujarat & Maharashtra see declines. Gujarat still leads, though.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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