The Indian government has announced an increase in the excise duty rates on petrol and diesel by ₹2 per litre, raising the duty to ₹13 per litre for petrol and ₹10 per litre for diesel. However, despite the hike, the retail prices of both fuels are expected to remain unchanged due to recent cuts in global crude oil prices. This decision comes in light of the ongoing trade tensions between the US and China, resulting in a drop in crude oil prices. OPEC+ group and its allies have also decided to increase crude oil production from May onwards. Follow Fortune India on social media for updates on this developing story.
A recent draft decree from the Vietnamese Ministry of Finance has proposed a zero percent first-time registration tax rate for electric cars, in comparison to the 10-12 percent rate for gasoline and diesel cars. This move has resulted in a substantial increase in electric car registrations, with numbers surging nearly 20 times over the past three years. In 2024, VinFast, a Vietnamese car manufacturer, became the top-selling brand in the country after selling over 87,000 electric cars. This growth in the electric car market is expected to continue, as the government continues to prioritize sustainable modes of transportation.
Tata Motors is bringing back the iconic Sierra, but this time with a futuristic twist. The new Sierra will feature a 5-door setup and cutting-edge innovative features, such as a three-screen floating dash design, a 1.5-liter Turbo Petrol Engine, and the possibility of an EV and diesel variant. Other highlights from the Auto Expo 2025 include updated versions of the Avinya and Enyaq, and new commercial EV concepts from Hyundai that could potentially shake up the market.
MG has finally unveiled its highly anticipated SUV, the Majestor, at the ongoing Bharat Mobility Expo. The 3-row SUV boasts a bold design with a large, octagonal grille and striking LED headlamps. While the interior is yet to be revealed, it is expected to come equipped with premium features like a 12.3-inch touchscreen and panoramic sunroof. Under the hood, the Majestor is likely to offer a powerful 2.0-litre twin-turbo diesel engine.
The British-owned Chinese automaker MG has recently unveiled the Majestor, their new flagship SUV, at the Bharat Mobility Expo 2025. The SUV boasts a premium and rugged design with hints of the Gloster model. It is expected to offer the latest technology and connectivity features, and will be powered by a 2.0-liter diesel engine with the option of single or twin turbo configurations. The Majestor is set to rival the popular Toyota Fortuner and is generating a lot of buzz in the automobile world.
The fourth edition of the Red Sea International Film Festival kicked off in Jeddah, Saudi Arabia with a star-studded lineup. Actress Emily Blunt, Bollywood icon Aamir Khan, and action movie legend Vin Diesel were honoured at the event for their contributions to international cinema. The honourees expressed their gratitude and shared their admiration for the festival, which has become a platform for showcasing diverse and impactful stories from around the world. Michelle Yeoh, Eva Longoria, and Michelle Rodriguez also joined in to celebrate the global impact of these talented artists.
In a move to reduce the tax burden on petroleum companies, the government has removed the windfall tax on aviation turbine fuel, crude products, diesel, and petrol. The tax, which was introduced in 2022, aimed to generate revenue from the sudden price increase of crude oil. With this change, the government hopes to attract more investments in the petroleum sector and improve the country's overall economy. Stay updated with the latest business news and stock market updates on Zee Business and optimize your tax through their income tax calculator.
In an effort to promote sustainable agriculture and reduce farmers' electricity and diesel expenses, the government has launched the PM Kusum Scheme which provides free agricultural pumps to farmers. Experts suggest crowd-financed loans as a viable option for farmers to obtain solar-powered pumps which have long-term benefits. With the central government setting a target for Haryana to install 22,000 solar pumps, applicants can avail of up to 75% subsidy for irrigation.
The Delhi Traffic Police has started cracking down on violators of the Graded Response Action Plan (GRAP) III in the national capital. On the first day of the ban on BS III petrol and BS IV diesel vehicles, around 550 challans were issued with a total fine of over Rs 1 crore. Additionally, 4,855 vehicles were also fined for not having a valid Pollution Under Control Certificate (PUCC). The ban also extends to inter-state buses from NCR cities into Delhi. Traffic police have intensified checking and returned over 300 prohibited vehicles, prosecuting those without PUCC certificates. This comes as the city faces severe air pollution levels and the Delhi government implements restrictions under stage III of the GRAP.
The Delhi government has taken strict measures to combat pollution and smog in the city by implementing GRAP Stage III, which includes a ban on BS-III petrol and BS-IV diesel vehicles. This comes as part of India's efforts to adopt Bharat Stage VI emission norms by 2020 and reduce air pollutants by 80%. The move aims to ensure a cleaner and healthier environment for the citizens of Delhi.