Top headlines: 23 states lower VAT on fuel; Diwali sale crosses Rs 1.25 trn

Delhi recorded its poorest air quality in five years the day after Diwali. Fuel pump dealers bleed on sudden excise duty cut on petrol, diesel. Here are the top headlines of the day

Delhi recorded its poorest air quality in five years the day after Diwali with a deadly cocktail of noxious fumes from firecrackers and stubble burning pushing the 24-average AQI to 462. Meanwhile, twenty-three states and union territories cut value-added tax (VAT) on petrol and diesel after the Centre lowered excise duty on auto fuels on Wednesday.

Here are the top headlines of the day

Fuel pump dealers bleed on sudden excise duty cut on petrol, diesel

The excise duty cut on petrol and diesel has not come as a festive bonanza for all. Having stocked up on fuel ahead of Diwali expecting higher sales, petroleum dealers are now staring at significant losses because of the sudden duty cut. Click here to read more

Diwali festive sale crosses Rs 1.25 trn, breaks all records in 10 yrs: CAIT

Shoppers across the country bought products worth Rs 1.25 trillion this Diwali, helping retailers log decade-high sales — a sign of resilient demand even as inflation remains high. Read on...

NCLT approves GAIL buying bankrupt IL&FS' 26% stake in OTPC

The National Company Law Tribunal has approved state-owned gas utility GAIL (India) Ltd's acquisition of bankrupt Infrastructure Leasing and Financial Services' 26 per cent stake in ONGC Tripura Power Company (OTPC). Click here to read more

23 states lower VAT rates on petrol, diesel

Twenty-three states and union territories have cut value-added tax (VAT) on petrol and diesel after the Centre lowered excise duty on auto fuels on Wednesday.

According to an official statement, states that reduced fuel prices the most were Karnataka, followed by Puducherry and Mizoram. Read more here

Day after Diwali, Delhi records its poorest air quality in 5 years

Delhi recorded its poorest air quality in five years the day after Diwali with a deadly cocktail of noxious fumes from firecrackers and stubble burning pushing the 24-average AQI to 462, according to data from the Central Pollution Control Board (CPCB) on Friday. A thick layer of acrid smog hung over Delhi-NCR on Friday after residents flouted the ban on firecrackers to celebrate Diwali and emissions from farm fires in the region peaked at 36 per cent. Read on...