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EquityPandit

EquityPandit
INDIA

Petrol, Diesel Prices Hiked Today

Petrol and diesel prices have been hiked across the metros on Tuesday, according to Indian Oil Corporation (IOC). In New Delhi, the petrol prices have been hiked by 28 paise from Rs 97.22 per litre to Rs 97.50 per litre and diesel prices were hiked by 26 paise from Rs 87.97 per litre to Rs 88.23 per litre. In Mumbai, the petrol prices were Rs 103.63 per litre, and diesel was priced at Rs 95.72 per litre. Fuel rates are different across the states in India due to Value-Added Tax (VAT).


The state-run oil marketing companies like IOC, Bharat Petroleum, and Hindustan Petroleum decide the rates of domestic fuel with that of the global crude oil prices by taking into account any changes in foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.


Meanwhile, crude dropped on Tuesday as investors cashed in on a recent rally, but the market remained solid on hopes for a quick recovery in oil demand in the US and European markets. Brent crude futures for August eased 10 cents, or 0.1 per cent, to $74.80 a barrel and US West Texas Intermediate (WTI) crude for July was at $73.44 a barrel, down 22 cents, or 0.3 per cent.

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INDIA

India Subsidises 10 Lakh+ Electric-2-Wheelers in FY25 as Sales Jump 21%

Dhruva Kulkarni

India subsidised over 10 lakh electric two-wheelers in FY25 under the PM E-DRIVE scheme, supporting EV sales and green mobility.

Electric two-wheeler sales rose 21% to 11.49 lakh units, while electric three-wheeler sales jumped 57% to 1.59 lakh units.

The PM E-DRIVE scheme, launched in September 2024, has a budget of Rs 10,900 crore and runs until March 2026, including EMPS 2024 sales.

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The scheme has saved 8.56 lakh litres of fuel daily and reduced CO2 emissions by 12.48 lakh kg daily, cutting pollution and boosting energy security.

Over 18 OEMs have applied under the PLI Auto Scheme, supporting EV manufacturing and industry growth.

Government policies, technology, and sustainability goals drive India’s e-mobility push, aligning with the Net Zero target by 2070.

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INDIA

Bengaluru Residents Face Higher Waste Disposal Charges as BBMP Introduces Garbage Cess

Dhruva Kulkarni

Bengaluru residents will soon face higher costs for waste disposal as the BBMP introduces a “garbage cess,” alongside recent hikes in milk and electricity prices.

The cess, which will be added to property tax payments, is expected to raise about Rs 600 crore annually, with fees varying based on property size. Residential properties up to 600 sq. ft. will pay Rs 10 per month, while larger homes up to 4000 sq. ft. will pay Rs 400 monthly.

Commercial establishments, including hotels, will see a rise in fees, with hotels paying Rs 12 per kg of waste, up from Rs 5.

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Opposition leaders from the BJP have criticised the Congress-led government for burdening citizens with new taxes. BJP leaders plan protests, including a march at Bengaluru’s Freedom Park and a ‘Jana Aakrosh Yatra’ from Mysuru.

Additionally, the Karnataka government has raised milk prices by Rs 4 per litre, effective 1st April, citing increased production costs.

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INDIA

PM Modi to Inaugurate Kashmir’s First Vande Bharat Train on 19th April

Dhruva Kulkarni

PM Modi will flag off Kashmir’s first Vande Bharat train from Katra on 19th April, completing the 272-km Udhampur-Srinagar-Baramulla rail link.

The Jammu-Katra-Srinagar Vande Bharat Express will start from Katra as Jammu station is renovating.

Officials confirmed the rail link project was completed in February, with successful trial runs on the Katra-Baramulla route.

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The train will reduce travel time between Jammu and Srinagar, offering a modern and efficient service.

Union Minister Jitendra Singh stated that PM Modi will visit the world’s highest railway bridge before flagging off the train on 19th April.

The project began in 1997 and faced delays due to challenging terrain and weather conditions.

It includes 38 tunnels (the longest being 12.75 km) and 927 bridges, including the Chenab Bridge, which is taller than the Eiffel Tower and the highest arch railway bridge in the world.

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ECONOMYINDIA

Govt to impose 10% import duty on desi chana from 1st April

Dhruva Kulkarni

The government will impose a 10% import duty on desi chana (Bengal gram) from 1st April.

In May last year, the government allowed duty-free import of chana to boost domestic availability and control prices. This waiver was set to last until 31st March 2025.  

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According to a finance ministry notification dated 27th March, the import of Bengal gram will now attract a 10% duty starting from 1st April.  

Government data estimates chana production at 11.5 million tonnes in 2024-25, up from 11 million tonnes in the previous year.

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INDIA

Karnataka to Hike Toll Rates by 3-5% from 1st April

Dhruva Kulkarni

Karnataka will increase toll rates by 3-5% from 1st April, with an official notification expected soon.

According to reports, the state has 66 toll plazas, and the revised rates will apply based on the concessionaire period. NHAI Bengaluru Project Director KB Jayakumar confirmed that the hike will range between 3% and 5%.

Karnataka State Travel Operators’ Association president Radhakrishna Holla stated that the increased toll charges would be passed on to customers.

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Toll rates will rise at key plazas, including Kaniminike, Sheshagirihalli, Nangli, Bagepalli, Sadahalli, Hulikunte, and Nalluru Devanahalli.

Union Minister Nitin Gadkari announced plans for a new toll policy and revealed that India’s toll collection reached Rs 64,809.86 crore in 2023-24, marking a 35% increase.

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