Money

India’s bold move to cut fuel tax as prices hit record highs

Published

3 years ago

November 5, 2021

India has cut consumer taxes on fuels after the surging cost of crude oil pushed fuel prices to jump to record highs

The Indian government made the bold move which they say is a decision aimed to ease price rises and “further spur the overall economic cycle.”

Global commodity prices have soared this year as economies around the world recover from the pandemic.

However, India’s fuel tax is also expected to boost demand for fuel as countries try to curb fossil fuel consumption.

India’s excise duty on petrol has been reduced by 5 rupees per litre, and by 10 rupees on diesel.

“The reduction in excise duty on petrol and diesel will also boost consumption and keep inflation low, thus helping the poor and middle classes,”
the government statement said.

Following the federal government’s announcement, at least ten states ruled by Prime Minister Narendra Modi’s Bharatiya Janata Party, or his political allies stated that they would go further and cut local fuel taxes by as much as another 7 rupees a litre.

The announcements came on the eve of the festival of Diwali, which sees the start of a busy festive season in India, typically marked by increased consumer spending.

Money

Why the meme-stock frenzy is unlikely to repeat

Published

5 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

5 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

6 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending