On top of the excise duty cut, which will cost the exchequer Rs 21,000 crore in a full year, the government has asked oil marketing companies to share a burden of Re 1 per litre of fuel, which will result in under-recoveries.
Incidentally, IL&FS and its subsidiaries Tuesday filed a petition with the Mumbai Bench of the National Company Law Tribunal (NCLT) seeking to restructure debt under Section 230 of the Companies Act 2013.
LIC is sitting on a big loss as share price fell from 73.15 in March 2017 to Rs 37.65 in September 2017. The share price of the company closed at Rs 21.1 on September 18. The company announced zero revenue in the year ended March 2018 and a profit of Rs 19 lakh.
Out of 21 PSBs in the country, 11 currently under the RBI’s PCA framework, which kicks in when banks breach any of the three key regulatory trigger points — capital to risk weighted assets ratio, net NPA and Return on Assets.
It is not just rising prices and imports of crude that have put pressure on the rupee. From coal & coke to electronics and minerals, a look at how Indian imports have risen sharply from one fiscal to the next.