RBI's rate hike also among decisions announced last week that might pay political dividends in state polls, but could come with commensurate economic costs, say economists.
According to the govt, the Rs 6 a litre export duty on petrol was scrapped & the tax on export of diesel and jet fuel was cut by Rs 2 per litre each to Rs 11 and Rs 4 respectively.
PM Modi singled out Opposition-ruled states for doing ‘injustice’ to the people by not reducing fuel taxes. He also praised BJP-ruled states for following Centre’s recommendations.
The Congress leader attack came a day after the Lok Sabha was informed that the Centre's tax collections on petrol & diesel rose by 88% to Rs 3.35 lakh crore in the last fiscal.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
COMMENTS