Excise duty on petrol, diesel cut by Rs 2/L; Govt may suffer Rs 26k-cr loss

Facing public resentment over the recent spike in fuel prices, the government on Tuesday cut the excise duty on both branded and unbranded petrol and diesel by Rs 2 a litre from Wednesday.
According to sources, the finance ministry was initially reluctant to reduce the duty due to revenue concerns, but relented after discussions with the petroleum ministry on implementing steps to bring down petrol prices to Rs 60-65 a litre.
While this would hit the revenues of the exchequer by Rs 13,000 crore in the second half of the current financial year at a time when the fiscal deficit has already touched 96 per cent of the Budget Estimates, consumers will get relief as the move would reduce the read more

Cashback, buyback, more: Know Reliance Jio offers on Apple iPhone 8 series

The iPhone 8 and iPhone 8 Plus are the first Apple products to be launched in India with an introductory offer from most e-commerce portals.
The two smartphones are also the first Apple devices that can be availed of on a 12-month contract from Reliance Jio.
In India, the iPhone 8 base model with 64 GB storage is priced at Rs 64,000 and the higher storage model with 256 GB internal storage is priced at Rs 77,000.
On the other hand, the iPhone 8 Plus base model with 64 GB and 256 storage are priced at Rs 73,000 and read more

Cheap fuel: After new highs, experts see petrol, diesel prices falling soon

Diesel prices in Delhi on Tuesday scaled a new all-time high of Rs 59.14 per litre, while other cities too saw a considerable increase.
However, industry experts and the government believe that prices will ease in the next few weeks as international prices are showing a declining trend.
In Delhi, the price of petrol, too, was at a two-year high on Tuesday at Rs 70.88 per litre.
Since the implementation of daily pricing from June 16 this year, Indian basket crude oil has gone up by around 19 per — from $46 a barrel to $55.36 a barrel. However, domestic retail selling prices of petrol  and diesel in Delhi have gone up by only eight per cent during this read more

Countries getting better at preventing flood-related deaths but not India

Nearly 14% of India’s landmass is vulnerable to flooding and more than 15% of this area gets flooded every year. Since 1953, 1,600 lives have been lost every year on average due to floods.

Yet, the central government has not released 61% of the funds promised for flood management between April 2007 and March 2016, and 43% of the 517 works approved have not been completed, a recent report by the Comptroller and Auditor General (CAG) of India, the government’s auditor, has found.

The CAG studied a sample of 206 flood management programmes, 38 flood forecasting stations, 49 river management activities and works related to border area projects, and 68 large dams across 17 selected states and union territories (UTs) from read more

Facebook unveils blood donation feature in India, rollout from October 1

Social networking giant Facebook is rolling out a new feature that will enable individuals and blood banks to connect easily with donors.

The feature, which has been designed for India, will go live on October 1.
Facebook will also show a message on user’s News Feed to encourage them to sign up as a donor. They would be asked to share their blood group and whether they have donated blood before.

In case someone is in need of blood, they will be able to create a special type of post containing the information donors need to offer help, like blood group required, hospital’s name and contact person’s phone number.
“India, like many countries, has a shortage of read more

Soon, you may get petrol delivered to your doorstep, says Pradhan

Seeking to leverage the advantages of records era, the government is planning to place all petroleum merchandise on e-commerce structures, Oil Minister Dharmendra Pradhan said on Wednesday.

can we join oil with IT and telecommunications? We plan to position all petroleum merchandise on e-trade platform,” Pradhan said at the same time as addressing the India mobile Congress here.

The minister stated there are four crore customers as towards one lakh shops for petroleum merchandiseadditionally read more

Miles ahead of Amazon? Flipkart claims it got 70% mkt share during festive sales

Flipkart has claimed it was miles ahead of Amazon during the five-day festive sales, called the Big Billion Day, which ended during the midnight of September 24.
The Indian firm was confident it had captured 70 per cent of the country’s online shopping market during this period. While none of the two firms shared their data on gross merchandise value (GMV) or the number of units sold, Amazon refrained from even giving its market share figures.
The preliminary data collated by RedSeer Consulting show that Flipkart is not very far from its claim.
Our preliminary analysis shows that Flipkart’s GMV will be close to double that of Amazon during the five-day period,” said Anil Kumar, chief executive officer, Redseer. According to RedSeer’s initial estimates, the e-commerce market during the read more