Join us

Cartoons

/

karnataka-hikes-petrol-diesel-price-by-rs-3-litre

Karnataka hikes petrol, diesel price by Rs.3/litre

BJP spokesperson S Prakash expressed his discontent, stating, "The Siddaramaiah-led Congress government has steeply increased diesel and petrol prices in this state. Soon after the Parliament elections are over, this hike has been brought. People were expecting Rs 8500 khatakhat in their bank accounts as promised by Rahul Gandhi. On the contrary, they have been hugely burdened by the increase in petroleum products. This is an outcome of guarantee schemes pursued by the State Govt. The State Govt is financially bankrupt, they are trying to extract revenue from whatever is available."

News Arena Network - New Delhi - UPDATED: June 16, 2024, 12:22 AM - 2 mins read

Karnataka hikes petrol, diesel price by Rs.3/litre

The Karnataka government has announced a hike in petrol and diesel prices, set to take effect from Saturday onwards.

The increase follows a revision of the sales tax imposed on petroleum products by the state government.

As a result, petrol prices will rise by Rs 3 per litre, elevating the cost from Rs 99.84 to Rs 102.84. Diesel prices will see a similar increase, going up by Rs 3.02 per litre, from the previous rate of Rs 85.93 to Rs 88.95. The Petroleum Dealers Association has attributed this price hike to the state's revised sales tax policy.

According to the official notification, the sales tax on petrol has been raised from 25.92% to 29.84%, while the tax on diesel has increased from 14.3% to 18.4%. This substantial tax hike has directly impacted the retail prices of petrol and diesel across Karnataka.

The Karnataka finance department's decision to raise the sales tax is aimed at generating additional revenue for the state. However, this move is expected to have significant repercussions on various sectors, such as transportation and goods distribution, potentially leading to increased costs for consumers.

The abrupt implementation of the new prices has caught many residents and businesses off guard, prompting concerns about the financial strain it may impose.

The opposition BJP has sharply criticized the state government for the timing and impact of the price hike.

Related Tags:#Karnataka #Fuel prices

First international cargo flight departs Mangaluru airport

July 6, 2024, 01:36 AM - 2 mins read

Benchmark stock market indices ended Friday's trading session on a weak note as banking and financial stocks declined.

Banking stocks weigh on Nifty, Sensex loses 53 pts

July 5, 2024, 03:55 AM - 2 mins read

The average cost of a vegetarian thali saw a significant increase of 10% in June, driven primarily by the rising prices of onions, potatoes, and tomatoes, according to Crisil Market Intelligence and Analysis' monthly "Roti Rice Rate" report released on Friday.

June sees 10% hike in veg thali prices

July 5, 2024, 02:55 AM - 2 mins read

Swiggy, the prominent online food and grocery delivery platform, has introduced its own UPI (Unified Payments Interface) service, aiming to reduce reliance on external payment apps, minimize payment failures, and streamline the checkout experience.

Swiggy introduces In-app UPI to cut payment failures

July 5, 2024, 12:54 AM - 2 mins read

The ninth Governing Council meeting of Niti Aayog, chaired by Prime Minister Narendra Modi and comprising state chief ministers, is expected to convene in August to deliberate on the ‘Viksit Bharat @2047’ vision document.

PM Modi to chair Niti Aayog meet on India 2047 vision

July 4, 2024, 11:22 PM - 2 mins read

In a positive session for the Indian stock market, both the Sensex and Nifty indices ended the day in green territory.

LIC acquires IDFC first stake, Sensex hits 80,000

July 4, 2024, 04:06 AM - 2 mins read

As the Monsoon Session of the Parliament gears up to begin on July 22, the nation eagerly awaits the presentation of the Union Budget 2024 by Finance Minister Nirmala Sitharaman. This event is more than just a routine fiscal exercise, it marks a historic occasion as Sitharaman becomes the first finance minister to present seven consecutive Union Budgets.

A budget for all: What to expect from Sitharaman's address

July 4, 2024, 03:03 AM - 3 mins read

Equity benchmark indices Sensex and Nifty reached their lifetime peaks in early trade on Thursday, driven by firm global market trends, significant buying in blue-chip stocks, and robust Foreign Institutional Investors (FII) inflows.

Sensex, Nifty hit lifetime peaks on FII inflows

July 3, 2024, 11:29 PM - 2 mins read

Sri Lanka has successfully reached a debt restructuring agreement with its international sovereign bondholders, marking a significant step in the nation's efforts to restore debt sustainability.

Sri Lanka finalises debt restructuring agreement

July 4, 2024, 01:23 AM - 2 mins read

Union Minister for IT and Electronics, Ashwini Vaishnaw, announced on Wednesday that discussions regarding regulations for Artificial Intelligence (AI) are currently underway, stressing the necessity of achieving a political consensus.

Vaishnaw stresses need for political consensus on AI

July 3, 2024, 08:06 AM - 2 mins read

The benchmark BSE Sensex breached the 80,000 level for the first time during intraday trading on Wednesday.

Nifty reaches fresh peak of 24,307, Sensex surpasses 80,000

July 3, 2024, 03:39 AM - 2 mins read

Madhya Pradesh Finance Minister Jagdish Devda presented the state budget for the year 2024-25 in the legislative assembly on Wednesday amid a ruckus created by the opposition Congress over an alleged nursing college scam.

MP budget presented amid nursing college scam uproar

July 2, 2024, 11:49 PM - 2 mins read

https://www.instagram.com/thelaughclubofficial/

Economy

See All

First international cargo flight departs Mangaluru airport

July 6, 2024, 01:36 AM - 2 mins read

The airport's integrated cargo terminal was formally launched on Friday in the presence of officials from AAHL Cargo, Mangaluru International Airport, Customs, IndiGo, Air India Express, and CISF.

Banking stocks weigh on Nifty, Sensex loses 53 pts

July 5, 2024, 03:55 AM - 2 mins read

Despite the dip in major indices, most broader market indices ended in positive territory as volatility declined. Among sectoral indices, Nifty Financial Services and Nifty Bank were the top losers, primarily due to a significant 4.5% drop in HDFC Bank shares.

June sees 10% hike in veg thali prices

July 5, 2024, 02:55 AM - 2 mins read

The report highlighted that the cost of a vegetarian thali, which includes roti, vegetables (onions, tomatoes, and potatoes), rice, dal, curd, and salad, rose to Rs 29.4 per plate in June. This marks an increase from Rs 26.7 in the same period last year and from Rs 27.8 in May 2024.

Swiggy introduces In-app UPI to cut payment failures

July 5, 2024, 12:54 AM - 2 mins read

A source revealed that Swiggy has been testing the UPI service with its employees for the past month and plans to gradually roll out the service to all users in phases over the coming months. The UPI Plugin, launched by the National Payments Corporation of India (NPCI) in 2022, allows merchants to offer UPI payment services within their apps without needing a TPAP license.

PM Modi to chair Niti Aayog meet on India 2047 vision

July 4, 2024, 11:21 PM - 2 mins read

Sources reveal that ahead of the Council meeting, Finance Minister Nirmala Sitharaman will provide an initial overview of the ‘Viksit Bharat’ vision and action plan in the upcoming Budget later this month. The ambitious goal includes positioning India as a $30 trillion economy by 2047, driven by significant policy reforms and governance changes by 2030.

LIC acquires IDFC first stake, Sensex hits 80,000

July 4, 2024, 04:06 AM - 2 mins read

Top gainers of the day included Tata Motors, HCL Tech, ICICI Bank, Sun Pharma and TCS. On the flip side, the day's laggards were HDFC Bank, Bajaj Finance, Adani Entertainment, Wipro, and Tech Mahindra. Sectoral indices showed a mixed performance. Financial services, FMCG, media, and metal ended the day in red.

A budget for all: What to expect from Sitharaman's address

July 4, 2024, 03:02 AM - 3 mins read

Industry leaders like Jasvinder Bedi and Ramesh Alluri Reddy have rightly pointed out the need for a focus on skill development and formal job creation. The staffing industry plays a vital role in this regard and deserves official recognition and support. The upcoming budget must prioritize initiatives that bridge the skill gap and create a workforce ready for the demands of the modern economy.

Sensex, Nifty hit lifetime peaks on FII inflows

July 3, 2024, 11:29 PM - 2 mins read

Among the top performers in the Sensex pack were Tata Motors, ICICI Bank, Mahindra & Mahindra, Infosys, HCL Technologies, and Tata Consultancy Services. Conversely, HDFC Bank, IndusInd Bank, Adani Ports and Special Economic Zone, and Bharti Airtel were among the laggards.

Sri Lanka finalises debt restructuring agreement

July 3, 2024, 11:20 PM - 2 mins read

The announcement follows the finalisation of debt restructuring agreements with bilateral lenders, including India and China, in Paris on June 26. President Ranil Wickremesinghe described this earlier agreement as a “significant milestone” in bolstering international trust in Sri Lanka's debt-ridden economy.

Vaishnaw stresses need for political consensus on AI

July 3, 2024, 08:06 AM - 2 mins read

Speaking at the 'Global IndiaAI Summit', Minister Vaishnaw highlighted the importance of societal understanding of both the potential and threats posed by AI. "All sections of society must fully understand the threats and potential of Artificial Intelligence only then we should approach legal action," he told reporters.

Nifty reaches fresh peak of 24,307, Sensex surpasses 80,000

July 3, 2024, 03:39 AM - 2 mins read

Conversely, Tata Consultancy Services, Titan, Reliance Industries, Tata Motors, and Larsen & Toubro were the major laggards. Asian markets showed mixed trends, with Seoul, Tokyo, and Hong Kong ending in positive territory, while Shanghai closed lower. European markets traded with gains, and US markets closed higher on Tuesday.

MP budget presented amid nursing college scam uproar

July 2, 2024, 11:49 PM - 2 mins read

The budget presentation, intended to outline the government's fiscal plans and priorities for the upcoming year, was overshadowed by the persistent demands for accountability and resignation over the nursing college scam.