The government has proposed a major overhaul of the penalty framework under the Petroleum Act, 1934, seeking to take routine licence-related violations out of the criminal law framework while introducing steeper penalties for serious offences.The Ministry of Petroleum and Natural Gas on Wednesday released the draft Petroleum (Amendment) Bill, 2026, for public and stakeholder consultation. Comments and suggestions on the…
The government on Wednesday cut the windfall gains tax on the export of diesel and aviation turbine fuel (ATF), while retaining it at the same level for petrol for the fortnight beginning October 1.The rate of special additional excise duty (SAED) along with road and infrastructure cess on the export of diesel will now be ₹16 per litre, down from…
Southwest monsoon rainfall in 2026 stood at 87% of the long-period average (LPA), with cumulative precipitation of 759.4 mm during the June-September season, making it the fourth-lowest since 2001 and the 13th-lowest since 1901, according to the India Meteorological Department (IMD).The deficient , which arrived in Kerala on 4 June, three days after its normal onset date of 1 June,…
