The FM also announced hike in excise duty on aviation turbine fuel to 14 percent from 8 percent. Although this was not expected, the fact that excise duty on petrol and diesel, mostly used by the common man, was much higher than ATF, hinted at the possibility of such a hike.
The Indian government has decided to head straight for Bharat Stage (BS)-VI emission norms for automobiles from the current BS-III and BS-IV standards, said Nitin Gadkari, Minister of Road Transport and Highways of India in an interview to CNBC TV-18 today.
Although India remains one of the best games amongst emerging markets, incremental outflows can be seen flowing into north Asia, specifically China and Korea in near-term, says Manishi Raychaudhuri of BNP Paribas.