Scrap windfall tax: FICCI to govt

New Delhi (PTI): The government should scrap the windfall profit tax on domestically produced crude oil as the levy is adversely impacting the capex-intensive exploration of oil and gas, the industry said in its recommendation for the forthcoming annual budget. India first imposed windfall profit taxes on July 1, joining a growing number of nations that tax super normal profits of energy companies. At that time, a ` 23,250 per tonne windfall profit tax on domestic crude production was levied. The new tax, which was also slapped on the export of petrol, diesel and ATF, is calibrated every fortnight in step.

New Delhi: Total toll collection through FASTag on fee plazas, including state highway toll plazas, increased 46% to `50,855 crore in 2022, state-owned NHAI said on Tuesday. Total toll collection through FASTag on fee plazas, including state highway toll plazas, in 2021 was `34,778 crore.

The average daily toll collection through FASTag on NH fee plazas in December 2022 was `134.44 crore, and the single day highest collection touched `144.19 crore on December 24, 2022, the National Highways Authority of India (NHAI) said. —PTI

New Delhi: Coffee Day Enterprises was fined `260 million ($3.2 million) by the markets watchdog for failing to recover dues from a sister concern, an order published on the regulator’s website showed on Tuesday.

The Sebi also asked Coffee Day to recover `35.35 billion from Mysore Amalgamated Coffee Estates Ltd and other connected entities. These funds were diverted from the company and its seven subsidiaries. PTI

VISTARA TO HAVE 70 PLANES IN FLEET BY MID-2024: CEO

New Delhi: Full service carrier

Vistara will continue to expand and expects to have a total of 70 planes by mid-2024, its chief Vinod Kannan said on Tuesday.

The airline, a joint venture between Tata Sons and Singapore Airlines, reported an operating profit for the first time since inception in the three months ended December 2022. By the middle of next year, Kannan said it will have a total of 70 aircraft, including 7 Boeing 787s. PTI

But Remains Positive

New Delhi: Gold price rose `295 to `57,217 per 10 grams in the national capital on Tuesday amid gains in the precious metal globally, according to HDFC Securities. The yellow metal had ended at `56,922 per 10 grams in the previous trade. Silver, however, declined `63 to `68,779 per kilogram.

“Spot gold prices in the Delhi markets traded at `57,217 per 10 grams, up `295 per 10 grams,” said an analyst at HDFC Securities. —PTI