Though it still remains a mystery, but it is highly likely that the unfortunate submarine’s sinking was the result of an accident caused by the untimely explosion of a mine during offensive mine-laying operation off Vishakhapatnam. This theory aligns with the known operational history of Ghazi, which had previously demonstrated formidable capabilities that made it Pakistan’s preferred military asset against India.
The new fiscal year’s budget proposes raising the petroleum charge from Rs60 to Rs100 per liter.
Currently, a duty of Rs60 per litre is placed on fuel and diesel, generating an estimated Rs 950 billion per year. The GST on petroleum items has stayed at 0% since March 2022.
In the budget, GST was suggested at 18%.
The International Monetary Fund has urged that the standard GST rate be restored, according to sources.
The government has announced that fuel prices would remain unchanged while high-speed diesel prices will be reduced by Rs 1.77 per liter.
According to the notice, petrol prices will stay unchanged at Rs 279.75 per liter.
However, there has been a reduction of Rs 1.77 paise per litre in the price of high-speed diesel, bringing it down to Rs 285.56 paise per litre.
This decision comes amidst fluctuations in global oil prices and aims to provide stability in domestic fuel rates. The Ministry of Finance regularly reviews the prices of petroleum products to align them with international market trends while considering the impact on consumers and the economy.
Although not explicitly mentioned in the notification, sources from the Ministry of Finance indicate that there has also been a reduction of Rs. 2.12 per liter in the price of light diesel oil and Rs. 1.35 per liter in the price of kerosene.
