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Delhi Chief Minister <keyword id="19901384" type="General" weightage="100" keywordseo="Arvind-Kejriwal" source="keywords">Arvind Kejriwal</keyword> will return to <keyword id="56350" type="General" weightage="20" keywordseo="tihar-jail" source="Orion">Tihar jail</keyword> on Sunday as his interim bail in a money laundering case linked to the alleged Delhi liquor policy scam ends on Saturday (June 1). Kejriwal was given interim bail by the <keyword id="19895345" type="General" weightage="20" keywordseo="supreme-court" source="keywords">Supreme Court</keyword> to campaign for the Lok Sabha elections on May 10 and was asked to surrender to Tihar jail on June 2. The Delhi CM had earlier moved the Supreme Court for an extension of interim bail. On Wednesday, the Supreme Court rejected his plea, stating that since he was given liberty to move the trial court for regular bail, the plea here is not maintainable. Meanwhile, Delhi's Rouse Avenue Court on Saturday reserved the order on the interim bail plea moved by Kejriwal, citing medical reasons in a money laundering case related to the alleged excise policy scam. The court fixed June 5 for the pronouncement of the order on the plea seeking 7-day bail, while refused to pass the order today itself as requested by Kejriwal's Lawyer. Senior Advocate N Hariharan, who appeared for Kejriwal, submitted that the interim bail was to campaign for his party (the Am Aadmi Party), which is a national party. "I am out for 20 days and had I not done it, you would've said see he didn't campaign and fell ill. It was a lot of stress due to the campaigning and you know that stress is a aggrevator of diabetes. What was alarming was that keto levels rose in the urine. The aspect of concern is the high level of sugar and the keto numbers," Kejriwal's advocate submitted in the plea. Appearing for the Directorate of Enforcement (ED), Solicitor General Tushar Mehta and Additional Solicitor General SV Raju submitted that Arvind Kejriwal suppressed facts including about his health conditions. During preliminary arguments, ED lawyers stated that they have objections to filing interim bail as well. This court cannot modify the Supreme Court order. He's on interim bail because the SC granted it, what he is asking here is an extension of the Supreme Court order," the ED lawyers submitted. "This interim bail plea is required to be dismissed as it is full of suppression of facts. The Supreme Court had granted Liberty to him that he can file regular bail but the liberty to seek an extension of interim bail was not granted to him. He has said that these tests require 7 days, but the nature of the test has been suppressed," they further stated. ED also raised maintainability issues on interim bail plea and submitted that instead of getting a medical test done, he was travelling across. Medical tests would take more than one hour. ED further submitted that the applicant in fact has gained 1 kg weight and falsely claimed that he has lost 7 kg weight. The Registrar of the Supreme Court has passed a speaking order and the same has been suppressed by them. There is a reason for suppression and it is because he had been travelling for campaigning purposes, but he didn't get the tests done then, ED said. Recently Kejriwal through his legal team filed two different bail applications before the concerned court. His regular bail plea is listed for a hearing on June 7, 2024. Earlier, Arvind Kejriwal posted an emotional message on Friday and said that he is proud that he is going to jail to save the country from dictatorship. In his video message, Kejriwal said, "Tomorrow the 21 days are getting over, the day after tomorrow I have to surrender. I don't know how long they will keep me in jail this time. But my spirits are high. I am going to jail to save the country from dictatorship. I am proud of this. They tried to break me many times, tried to make me bow down but I didn't." Kejriwal was arrested by the ED on March 21 in connection with a money laundering probe relating to alleged irregularities in the now-cancelled <keyword id="20106989" type="General" weightage="20" keywordseo="Delhi-Excise-Policy" source="keywords">Delhi excise policy</keyword> 2021-22.

Delhi excise policy case: Arvind Kejriwal to return to Tihar Jail today, no relief from Court

A Delhi court on Monday sent Chief Minister <keyword id="19901384" type="General" weightage="20" keywordseo="arvind-kejriwal" source="keywords">Arvind Kejriwal</keyword> to <keyword id="6358969" type="General" weightage="20" keywordseo="judicial-custody" source="Orion">judicial custody</keyword> till April 15, while the AAP supremo moved an application to have three books -- Bhagavad Gita, Ramayana and How Prime Ministers Decide. He was produced before Special <keyword id="21152631" type="General" weightage="20" keywordseo="Judge-Kaweri-Baweja" source="Orion">Judge Kaweri Baweja</keyword> of the Rouse Avenue Court on the expiry of his previously extended <keyword id="6357808" type="General" weightage="20" keywordseo="Enforcement-Directorate" source="Orion">Enforcement Directorate</keyword> (ED) custody in connection with the money laundering case related to the alleged excise policy scam. On March 28, Judge Baweja had extended his ED custody, holding that there were "sufficient reasons". However, she had allowed him to meet his family members and lawyers. On Monday, the CM was produced amid heavy security while counsel for both ED and <keyword id="19919267" type="General" weightage="20" keywordseo="cm-kejriwal" source="keywords">CM Kejriwal</keyword> made submissions virtually. Senior Advocates Vikram Chaudhary and Ramesh Gupta appeared for him and Additional Solicitor General (ASG) S.V. Raju for the probe agency. Seeking his judicial custody, ASG Raju said "we (ED) seek his judicial custody and no more ED remand". Alleging the same as it had alleged last time, the ED said: "He (<keyword id="19895701" type="General" weightage="100" keywordseo="kejriwal" source="keywords">Kejriwal</keyword>) is non-cooperative and is giving evasive replies." The ASG made another similar submission as last time saying that CM Kejriwal isn't giving password to his phone. The court was told by ASG that the ED might seek his custody later. After a brief hearing, the judge sent CM Kejriwal to judicial custody till April 15. The accused has also moved an application to be provided with a special diet, medicines, books and religious locket which he wore while being in custody. Earlier, the probe agency had sought the Chief Minister's custody for seven more days. However, after hearing the arguments, the court had extended the AAP supremo's ED remand by four days till April 1, observing that there appear to be "sufficient reasons" to permit his further custodial interrogation, particularly keeping in view the submissions of the ED. The probe agency had submitted that he is required to be confronted with the material collected and statements recorded so far in the course of the investigation. The court had directed the investigation officer to ensure that further interrogation and confrontation, etc., of the accused is done without any delay. Judge Baweja had allowed CM Kejriwal to meet his family members, including his wife, daughter, PA and advocates. Moreover, the court had directed the agency to conduct the interrogation at a place with CCTV coverage and for the preservation of the footage. The ED was also asked to provide the requisite medication to CM Kejriwal and get him medically examined in accordance with the law during the period of his custody. The ED arrested CM Kejriwal on March 21 after questioning him for over two hours at his official residence in Delhi. The ED has termed CM Kejriwal the "kingpin and the key conspirator" of the alleged excise scam in collusion with other ministers of the Delhi government, AAP leaders, and other persons.

Excise policy case: Delhi court sends CM Kejriwal to judicial custody till April 15

Hyderabad-based businessman <keyword id="15211274" type="General" weightage="50" keywordseo="boinpally-abhishek-rao" source="Orion">Boinpally Abhishek Rao</keyword>, who has been arrested by the Central Bureau of Investigation (<keyword id="6354572" type="General" weightage="80" keywordseo="cbi" source="Orion">CBI</keyword>) in <keyword id="14762568" type="General" weightage="20" keywordseo="Delhi-excise-policy-scam" source="Orion">Delhi excise policy scam</keyword> allegedly involving the national capital's Deputy Chief Minister <keyword id="6354681" type="General" weightage="50" keywordseo="manish-sisodia" source="Orion">Manish Sisodia</keyword>, is associated with several companies. He is a director of Anoos Electrolysis &amp; Obesity Pvt Ltd, Anoos Health &amp; Wellness Pvt Ltd, Robin Distribution LLP, Agasti Ventures, SS Mines &amp; Minerals, Master Sand LLP, Neoverse Realty Pvt Ltd, Zeus Networking Pvt Ltd and Valuecare Esthetics Pvt Ltd. Considered close to a key leader of the ruling party in Telangana, he is the first person from <keyword id="6354552" type="General" weightage="80" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> to be arrested in the case. Rao was allegedly found to be acting as a south lobby. The investigating agency suspects that he committed irregularities through cartelization. Rao is the second person to be arrested in the excise policy. The CBI had earlier arrested Vijay Nair, former CEO of events company- Only Much Louder. The Enforcement Directorate (ED) has also arrested liquor trader Sameer Mahendru of Indo Spirit. He is said to have business links with Arun Ramachandra Pillai, a resident of Hyderabad and one of the persons booked by the CBI in the case. Rao's arrest came after several rounds of raids conducted by the CBI and ED at various places in Hyderabad, including in the office of a media house. He was also reportedly questioned by the CBI a couple of times in the case. According to the CBI investigation, Arun used to collect money from Sameer Mahendru for onward transmission to the accused public servants through Vijay Naidu. The liquor license holders allegedly issued bills to retail vendors to divert funds to public servants involved in irregularities. This is where some companies from Hyderabad are believed to have helped in illegal transactions. Further questioning of the CBI is likely to unearth the role of some other suspects in the case. Six to seven to eight businessmen and a couple of politicians and officials from Telugu states are believed to be involved in the case. The officials hailing from Telugu states are said to be holding key positions in the Delhi government. The Hyderabad-based businessmen were reported having colluded with politicians and officials in the Delhi government to influence the liquor policy of that state to derive monetary benefits from it. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/beware-of-bouncing-cheques-harsher-punishments-may-be-afoot/articleshow/94757668.cms">Beware of bouncing cheques, harsher punishments may be afoot</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/livspace-earmarks-100-mn-to-invest-in-d2c-brands-in-home-segment/articleshow/94755762.cms">Livspace earmarks $100 mn to invest in D2C brands in home segment</a>

Who is Boinpalli Abhishek Rao arrested in Delhi excise policy scam?

<ul><li>India should not become complacent on the export front. Total export by all nations is about 28-30% of the world GDP. </li><li><keyword id="6393721" type="General" weightage="20" keywordseo="indirect-taxes" source="Orion">Indirect taxes</keyword> such as <keyword id="14212793" type="General" weightage="20" keywordseo="mineral-taxes" source="Orion">mineral taxes</keyword>, <keyword id="6356916" type="General" weightage="20" keywordseo="excise-duty" source="Orion">excise duty</keyword>, export duty etc., must be levied in a rational manner to remove the cascading effect. </li><li>Ban on the export of agro produce shall immediately affect the income of about 45-50% of the population employed in the farming sector. </li></ul>During 2021-22, India exported goods and services worth $669.7 billion (22.8% of GDP) as against $538.6 billion which was at about 20% of GDP during 2017-18. This calls for a sincere applause. However, India should not become complacent on the export front. Total export by all nations is about 28-30% of the world GDP. In 2012-13, India exported goods and services to the tune of 25.4% of GDP. Therefore, India must boost exports up to 28-30% of its GDP. That will recover the loss of GDP during Covid years and ensure consistent growth in the years to come. For this, the cost of basic inputs such as capital, energy, minerals and logistics must be reduced to become globally competitive. More so, indirect taxes such as mineral taxes, excise duty, export duty etc., must be levied in a rational manner to remove the cascading effect. That will boost exports and also arrest ‘cost push’ inflation. Recently, to control inflation, India has banned exports of few agro products and levied 50% export duty on iron ore, 45% on iron ore pellets and 15% on steel. However, current inflation in India is not due to shortage in supply but due to ‘cost push factor’. The export curbs need review since; it will impact GDP growth. Yes, in case of shortage in supply, curbing of exports in a calibrated manner may be chosen as a last option. Ban on the export of agro produce shall immediately affect the income of about 45-50% of the population employed in the farming sector. That will aggravate the unemployment problem. Advance estimate of production and consumption with predictable export policy shall enhance agro production without causing high inflation. India’s steel capacity utilization will be affected by the duty In India, steel production capacity is much higher than the domestic demand. More so, the addition of new capacities is in the pipeline. Sudden levy of 15% export duty shall adversely affect capacity utilization and on-going investment in new capacity. The growth of public income (GDP) and investment rate shall decline; that India can’t afford. It is agreed that; in the past one or two years, steel prices have sky-rocketed and its impact is felt by the entire economy. But such inflated prices are due to high jumps in the price of coal and iron ore; that should be resolved. This will be the right choice over curbing exports by imposing taxes. Thermal coal prices must be brought back to 2019 levels The price of thermal coal must be restored almost to near to 2019-20 level which has now increased by almost three times, mainly due to stagnant production in past years clubbed with the high price of imported coal. Its major impact is on the core sector such as power, steel, metal and cements which travels to the entire economy. For this, India must immediately increase coal production by minimum 20% through regulatory easements. Incremental production may be incentivised through fiscal tools. India has sufficient reserves of non-coking thermal coal but has limited reserves of coking coal. Steel industry uses both types of coal. For reducing import dependency, future capacity in steel may be diverted to the non-coking coal based technology on the best effort basis. The sales of sub-grade iron ore Iron ore is the principal raw material for steel making. For reducing its price, the mineral taxes in the shape of royalty and auction premium should be levied on the basic price (excluding mineral taxes) instead of IBM price (including mineral taxes). More so, IBM price is not consistent with actual sale price in most cases. Hence, mineral taxes should be levied on the actual and basic sale price instead of IBM price similar to GST and excise duty. Prevailing system is causing a compounding effect of the mineral taxes. The price of iron ore has inflated to record high levels. Same is the case with other minerals including coal. The aforementioned method of taxation is a great impediment in selling low/sub-grade iron ore in particular. After paying mineral taxes, the basic sale price comes to below production cost and at times, to a negative sale price. Hence, the miners are reluctant in selling low/sub-grade iron ore. As a consequence, new beneficiation plants are not coming up as per economic needs of the nation. Hence, more than 300 million tons of low/sub-grade iron ore is accumulated in the mines causing wastage of precious mineral resources. By and large, India must choose appropriate policy tools for controlling inflation without sacrificing exports and GDP. For intermediate products like iron ore, a calibrated curb in export may be chosen keeping a balance between the exports, GDP and inflation. The writer is an economist and the author of the book’ ‘Turn Around India: 2020- Surmounting Past Legacy’ SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/hul-ceo-sanjiv-mehta-coins-a-new-word-humbition-combining-humility-with-ambition/articleshow/92253088.cms">HUL CEO Sanjiv Mehta coins a new word - humbition, combining humility with ambition</a> <a href="https://www.businessinsider.in/business/corporates/news/theres-a-silver-lining-for-hotstar-in-losing-ipl-digital-rights-here-is-how-it-can-strengthen-its-counter-strategy/articleshow/92252808.cms">There’s a silver lining for Hotstar in losing IPL digital rights – here is how it can strengthen its counter-strategy</a>

India’s exports have a long way to go and the curbs are not helping

Even after waiting for a month to discuss things with the working committee appointed by the <keyword id="6361265" type="ORGANIZATION" weightage="100" keywordseo="Central-Board-of-Excise-and-Customs">Central Board of Excise and Customs</keyword> (<keyword id="117272" type="ORGANIZATION" weightage="100" keywordseo="CBEC">CBEC</keyword>), online marketplaces are still not clear about the final set of rules that the goods and services tax (GST) Council has announced on Saturday. While on one hand the marketplaces and sellers are relieved because of the increase in input tax credit, there lies abundant confusion over about taxation structure for returns, even as GST is set to be rolled out in less than a month. Sellers registered on online marketplaces <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> and Amazon India say that these companies have asked brands to take back their stocks from fulfilment centres since GST will be revamping the taxation structure, and they might face an additional tax liability. However, since sellers are not clear about transitional gains and losses under GST, they are forced to clear their stocks through discounts. "Despite the input tax credit, we will have to shell out 7% of the tax from our pockets," an online seller told <a href="http://economictimes.indiatimes.com/small-biz/startups/gst-return-policy-sends-online-marketplaces-into-a-tizzy/articleshow/58994239.cms">ET</a>. "The brands have been supportive with whom we have exclusivity for certain online marketplaces. They will help us in billing the goods to sister entities of online marketplaces through which they can be sold," he pointed out, adding that he has sold old stock to WS Retail and Cloudtail India, largest sellers on the online marketplaces Flipkart and Amazon India, respectively. "The finance secretary also added that for sellers who don't have an excise invoice but have a credit transfer document from manufacturer where the goods can be identified through model number, will get 100% input tax credit where value is more than Rs 25,000. In case of items attracting GST of 18% and above, the deemed credit is increased from 40 to 60%. These steps will help curb the return of consumer durables and FMCGs back to brands ahead of GST," said <keyword id="367317" type="PERSON" weightage="100" keywordseo="Sachin-Menon">Sachin Menon</keyword>, national head of indirect tax at <keyword id="50041" type="CITY" weightage="100" keywordseo="KPMG">KPMG</keyword> India. The GST Council has also made easier the process of filing return across industries, which has been done by letting go of a few controversial fields on the GST returns form through application programming interface. This has been done a few weeks after digital service providers like Google, <keyword id="6354427" type="CITY" weightage="100" keywordseo="Apple">Apple</keyword> and <keyword id="141088" type="COMPANY" weightage="100" keywordseo="Amazon-Web-Services">Amazon Web Services</keyword> jointly petitioned Nasscom to make the process of filing returns across industries easier. (Image source)

GST return policy is still confusing India’s online marketplaces

The <a href="http://www.businessinsider.in/searchresult.cms?query=haryana+government&amp;sortorder=effectivedate">Haryana Government </a>has revised its <a href="http://www.businessinsider.in/searchresult.cms?query=excise+policy&amp;sortorder=effectivedate">excise policy</a> and in this backdrop, the liquor prices in the state are going to shoot up by 20%. 
 
With an increase in <a href="http://www.businessinsider.in/searchresult.cms?query=VAT&amp;sortorder=effectivedate">VAT</a>, excise duty and licence fee under the new state excise policy, people will have to pay extra. 
 
Also, nearly 500 liquor shops will be shifted, following the<a href="http://www.businessinsider.in/searchresult.cms?query=supreme+court&amp;sortorder=effectivedate"> Supreme Court</a>'s order that no liquor shops will be permitted within 500 metres of national and state highways, Haryana Excise and Taxation Minister Captain Abhimanyu said here. 
 
Announcing the new excise policy, the minister said, excise duty on country-made liquor (CL) and Indian Made Foreign Liquor (IMFL) has been rationalised and certain new categories have also been introduced. 
 
He said under the new policy, the annual license fee of bars has been increased from Rs 12.5 lakh to Rs 15 lakh in Gurugram, Rs 10 lakh to Rs 12 lakh in Faridabad and Rs 7.5 lakh to Rs 9 lakh in other districts. 
 
VAT rates on liquor have been revised from existing 10 per cent plus surcharge at the rate of five per cent to 13 per cent plus surcharge in case of CL, 13.5 per cent plus surcharge in case of beer and 14 per cent plus surcharge in case of IMFL.

You’ll have to shell out more for liquor in Haryana

The <keyword id="32870" type="COMPANY" weightage="80" keywordseo="Auto">Auto</keyword> Component Manufacturers Association (<keyword id="224858" type="ORGANIZATION" weightage="80" keywordseo="ACMA">ACMA</keyword>), the apex body representing India's auto component manufacturing industry, welcomed the thrust given to promote exports in the new <keyword id="35067" type="ORGANIZATION" weightage="80" keywordseo="foreign-trade-policy">Foreign Trade Policy</keyword> 2015-20. 
 The industry body expressed satisfaction on the focus given to consolidation of various exports schemes and further simplification of procedures to help integrate India in the global <keyword id="1195806" type="UNKNOWN" weightage="80" keywordseo="value-chain">value chain</keyword>, improving ease of doing business index through online and e-governance interventions and reducing the transaction cost in international trade, according to an Economic Times report. 
 172 tariff-lines of auto <keyword id="171938" type="CITY" weightage="80" keywordseo="components">components</keyword> are benefited under the new policy compared to the earlier 166. The incentives provided encourage local sourcing and manufacturing as they are based on the amount of value-addition. 
 
5 provisions that get the <keyword id="46265" type="UNKNOWN" weightage="80" keywordseo="Auto-sector">auto sector</keyword>'s thumbs-up 
 
1. Stable policy for five years with mid-term review. 
 2. Export incentives consolidated into two schemes - Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS). Duty credit scrips issued under MEIS and SEIS and the goods imported against these scrips are fully transferable which can be used to pay customs duty, <keyword id="6356916" type="UNKNOWN" weightage="80" keywordseo="excise-duty">excise duty</keyword> and service tax. 
 
3.is Under the export promotion capital goods scheme (EPCG), export obligation reduced from 90 per cent to 75 per cent in case of capital goods sourced locally, this will promote domestic capital goods manufacturing industry. 
 
4. Indian Manufacturers who are status holders will be allowed to self-certify to qualify for preferential treatment under the various Preferential Trade Agreement (PTA), Free Trade Agreement (FTA), Comprehensive Economic Cooperation Agreement (CECAs), Comprehensive Economic Partnership Agreement (CEPAs). The 'Approved Exporter System' will help exporters in getting fast access to international markets. 
 
5. Basic Customs Duty paid in cash or through debit under Duty Credit Scrips can be taken back as Duty Drawback.

5 reasons why Maruti, Tata, Honda and Hyundai are very happy with India's Commerce Minister

<ul><li><keyword id="6367091" type="UNKNOWN" weightage="20" keywordseo="petrol">Petrol</keyword> and diesel prices reached an all-time high in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> this morning. </li><li>Not only is this a result of the rise in global <keyword id="6359072" type="UNKNOWN" weightage="20" keywordseo="oil">oil</keyword> prices, which are nearing $80 a barrel, but also because of the Indian <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword>’s <keyword id="6356916" type="UNKNOWN" weightage="20" keywordseo="excise-duty">excise duty</keyword> hikes. </li><li>Excise duties and value-added taxes currently comprise over 50% and 40% of the price of petrol and diesel, respectively. </li></ul> Paid a bomb for fuel today? After a three-week pause in the build-up to the Karnataka elections, fuel prices in India reached <a href="https://www.iocl.com/TotalProductList.aspx">a record high</a> this morning after increasing for eight consecutive days. In Delhi, petrol and diesel cost ₹76.87 per litre and ₹68.08 per litre, respectively - a 10% plus rise from the beginning of 2018. The highest fuel prices in the country were seen in Mumbai, where petrol is being sold for ₹84.70 per litre, while diesel costs ₹72.48 per litre. Since June last year, India has had a dynamic pricing regime, wherein fuel prices change on a daily basis in response to the global market. This alarming spike, however, begs the question. Why are fuel prices in India so high? Firstly, global oil prices are rising, <a href="https://oilprice.com/">nearing $80</a> a barrel amid curbs in production by OPEC (Organisation of Petroleum Exporting Countries) countries like Saudi Arabia. However, if this were the only reason, then countries that import oil from India, like <a href="http://ceypetco.gov.lk/marketing-sales/">Sri Lanka</a>, where petrol is currently ₹59 a litre, and Bangladesh, where petrol is <a href="http://www.bpc.gov.bd/contactus.php?id=39">₹69 a litre</a>, would have similar (if not higher) fuel prices. In addition to the global price of crude oil that is borne by distributors, fuel prices in India are composed of excise duty, which is collected by the central government, and value-added tax, which goes to state governments. The higher fuel prices are a direct result of the central government’s taxation and excise policy on petrol and diesel. Since taking over the Centre in 2014, the BJP-led government has hiked excise duties on fuel more than 10 times. It bears mentioning, however, that there have been no hikes this year though global oil prices have risen. Since the initial part of the BJP’s stint coincided with a sharp reduction in global oil prices, it imposed higher duties on customers in order to increase its revenues. As a result, consumers did not benefit from lower oil prices. Despite the price of Brent crude oil plummeting from <a href="https://oilprice.com/oil-price-charts">$102 a barrel </a>in July 2014 to $34 in early 2016, the price of petrol in Delhi only fell from <a href="https://www.iocl.com/Product_PreviousPrice/PetrolPreviousPriceDynamic.aspx">₹73.6 per litre</a> in July 2014 to a low of ₹56.6 by March 2016. From an excise duty of ₹9.20 a litre on unbranded petrol in November 2014, excise duties currently stand at ₹19.48 per litre. Meanwhile, the excise duty on diesel has risen from ₹3.55 a litre in November 2014 to a current level of ₹15.33. Thus, excise duties comprise roughly 25% of the purchase price of fuel today. Including VAT, the proportion comes to <a href="http://www.thehindu.com/news/national/petrol-diesel-prices-hit-highest-level/article23957119.ece">more than 50% in the case of petrol and over 40% for diesel. </a> A correction is necessary High fuel prices affect everyone. They significantly increase your transportation expenses and reduce your disposable income. They increase the costs of transporting goods for companies, which leads to higher product prices. They lead to higher airfare. Even if you don’t own a car, you end up paying higher for transport. The government is likely aware that higher fuel prices and the resulting contraction in demand and investment will weigh on economic growth. Hence, it needs to act decisively. Earlier this week, India’s Oil Minister, Dharmendra Pradhan, told reporters that the government was <a href="https://timesofindia.indiatimes.com/city/bhubaneswar/alternatives-being-explored-to-check-fuel-prices-oil-minister/articleshow/64253207.cms?&amp;utm_source=Articleshow&amp;utm_medium=Organic&amp;utm_campaign=Related_Stories">exploring measures to reduce fuel prices </a>but he gave no details on what these measures were. Since the government has no control over international oil prices, it seems that the only option at its disposal could be to reduce either the duties or value-added taxes on fuel. Another measure involves scrapping duties and value-added taxes entirely and bringing fuel products under the GST regime - something that has been proposed by a number of experts as well <a href="https://www.financialexpress.com/industry/ficci-for-urgent-excise-duty-cuts-on-fuel-as-transport-oil-prices-cross-previous-highs-in-delhi/1175293/">as the FICCI,</a> an industry association. Even the highest tax rate of 28% for luxury products would result in lower prices. Any measures, however, will entail a reduction in government revenues. But it will be worth the boost to aggregate demand.

Here’s why fuel prices in India are at a record high

New Delhi, Delhi, Apr 6 () At a time when the world is struggling to get ventilators to treat COVID-19 patients, 200 such equipment are lying at Chennai port but they are 'second-hand' or 'used' ones and come under the 'hazardous' category. Import of such used equipment is prohibited under hazardous waste management rules of the Ministry of Environment and Forest. A Chennai-based company Skylark Office Machines imported these ventilators in November 2018 from a US-based firm, according to sources. The customs authorities confiscated the consignment and imposed penalty on the goods. But, the importer approached the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) which set aside the orders of the customs authorities and allowed the company to re-export the goods back to the US, they said. Things took turn as the central government banned exports of all kinds of ventilators during the last week of March amid the coronavirus outbreak. After this decision, it was impossible for the company to re-export the consignment. The firm sent a communication to the Chennai office of the Directorate General of Foreign Trade (DGFT) seeking clearance of the consignment as a "special case" to enable use of those ventilators at government medical institution, Tamil Nadu, for tackling the COVID-19 outbreak. "We appeal to you that the policy condition may be relaxed to cover clearance of these goods already imported by us as a very special case to enable us to supply to Government of Tamil Nadu through Tamilnadu Medical Services Corporation Ltd (a fully-owned Tamil Nadu government company) for use in the government medical institution in Tamil Nadu for tackling COVID-19 patients," according to the communication of the company, dated March 31, 2020, accessed by . On this, Tamil Nadu Medical Services Corporation in a communication date March 31 to Chennai DGFT sought clearance of the consignment of used ventilators imported by Skylark Office Machines. The Corporation appealed that the policy condition may be relaxed to cover clearance of these goods so that it can be used to treat COVID-19 patients. DGFT headquarters at the national capital has finally given the approval on April 4 after getting clearance from the Ministry of Environment and Forest. The Directorate has also written to the chief secretary and health secretary of Tamil Nadu to check the specifications, standards, quality and safety of these used/old ventilators before using that in hospitals to treat the patients. Skylark Office Machine owner Rohit Jhunjhunwala did not responded to the repeated calls and even to messages sent to him to get his comments on the matter. Some of the major suppliers in the country have stated that they have acute shortage of ventilators in view of the increasing demand worldwide amid the coronavirus outbreak. According to some reports, there is an over 30,000 ventilators in India with every state having a varying number. Health experts have said only few of the total affected patients require critical care as they go on respiratory failure and need to put on ventilators while rest recover with supportive treatment. According to Mumbai-based doctor Sachin Ramteke, few specific cases need ventilators and not all patients. About the number of these equipment, he said that normally, a 100-bed hospital would keep ventilators for 10-20 beds in ICU, but now as the number of patients are increasing, hospitals are facing shortage of these equipment. RR HRS

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