Carmakers want excise duty cut to continue even after June 30
With the June 30 deadline fast approaching for expiry of reduced excise rate, car makers want the government to extend it further even as they adopt a wait and watch policy before considering price hikes. “We certainly hope that the Government of India will give us an opportunity to continue keeping our customers happy,” Nissan Motor India, VP sales and marketing, Ajay Raghuvanshi told PTI.With the Budget expected only next month, the auto industry is awaiting the new Government’s steps on the matter.
India to clock fastest Facebook user growth globally in 2014
India, which has the highest number of Facebook users outside the US, will account for the fastest growth in people logging on to the social networking platform this year, research firm eMarketer said.
“This year, eMarketer predicts, the country (India) will enjoy 40 per cent growth in Facebook users, the most of any market in the world and more than twice as quickly as regional second-place Indonesia,”the firm said.
Ruias get board nod to de-list Essar Oil from Indian bourses
The Board of Essar Oil on Sunday agreed to its promoters’ proposal to de-list the company from Indian bourses. After de-listing Essar Energy plc from london Stock Exchange (lSE), the Ruia-brothers controlled Essar Group on June 20 had announced their intention to de-list Essar Oil from Indian bourses. Essar Oil in a statement said its Board of Directors met today to consider the de-listing proposal.