Kolkata: The hike in petrol price was because of increase in prices of crude oil in the international market, reports PTI quoting Union finance minister Pranab Mukherjee.
“The price of crude oil in the international market has touched $90 a barrel. Petrol prices have been deregulated already. So the hike in price was in parity with international prices,” Mr Mukherjee told reporters here.
State-run oil refiner Bharat Petroleum Corporation (BPCL) hiked petrol prices by Rs2.96 a litre effective midnight last night.
The oil ministry has given the three state-run companies, BPCL, HPCL and IOC, the go-ahead to raise petrol prices after international crude oil prices touched $90 per barrel.
OxiCash ties up with Bookmyshow.com to enhance entertainment ticket sales in India; Bajaj hikes motorcycle prices by up to Rs1,000; Tata Motors’ special finance scheme for Nano; Bajaj Allianz launches mobile application for tax planning
OxiCash ties up with Bookmyshow.com to enhance entertainment ticket sales in India
Oxigen Services India Pvt Ltd, an IT-enabled multi- services platform and distributor of recharges, prepaid subscriptions and bill payments, has tied-up with Bookmyshow.com, India's premiere E-commerce provider, a one stop shop for entertainment ticketing.
The association will offer easy transactional service to the customers who do not own credit, debit cards or net banking accounts and prefer using cash based payment mechanism to purchase their entertainment tickets online. This would be done by using a stored value OxiCash e-wallet or OxiCash Cards to make secure payments. Consumers will now be able to pay for tickets for movies, plays, concerts and live events using OxiCash e-wallets and OxiCash cards.
Pramod Saxena, chairman & managing director, Oxigen Services India said, “With this tie up our customers will have the unique advantage of buying confirmed tickets at any of the Oxigen’s web enabled retail touch points, or directly by using their OxiCash Wallet/Cash Cards.”
With this tie up with Bookmyshow, Oxigen will provide easier access and convenience mainly for entertainment seekers who can now buy tickets by simply logging on to www.oxicash.in or www.bookmyshow.com on the PC and pay for tickets for a large variety of shows. This affiliation is one of the many initiatives taken by Oxigen to expand the base of its services to its customers.
Bajaj hikes motorcycle prices by up to Rs1,000
Two-wheeler maker Bajaj Auto said it will hike the prices of its motorcycles by up to Rs1,000, with effect from 1 January 2011, due to rise in input costs.
“The continued rising cost of raw material inputs is the main cause for this increase. Despite the hike, our models continue to offer superior value compared to competition, and hence we do not expect this price rise to affect sales,” Bajaj Auto president (two wheelers) S Sridhar said in a statement.
Last week, the country’s largest two-wheeler maker Hero Honda had announced to hike the prices of its models in the range of Rs500-Rs1,500 to offset the rising input costs.
Earlier, major car makers such as Hyundai Motor India and General Motors had also announced an increase in prices to offset the pressure from raw materials, including natural rubber.
Tata Motors’ special finance scheme for Nano
Tata Motors Finance (TMF) has launched Tata Nano finance scheme, under which a customer can get a loan with select documents in 48 hours. According to the company, “The interest rate is a minimum of 11% with tenure of four years.”
TMF will provide finance up to 90% for the Tata Nano. TMF, which provides customer finance for all Tata Motors vehicles, is present in 540 passenger vehicles outlets of the company.
Tata Nano will now come with a four-year/60,000km (whichever is earlier) manufacturer’s warranty, at no extra cost. Besides being applicable on new deliveries, the warranty is also being extended to all existing owners of the car.
In addition, all new buyers have the option to avail of a comprehensive maintenance contract at only Rs99 per month. This contract will help customers take care of running maintenance of the car.
These benefits will further enhance the satisfaction of Tata Nano users.
Gradually expanding these initiatives, coupled with customer benefits, Tata Motors will cover the entire country with open sales by March 2011 to take the Tata Nano to those who dream of owning the car.
Bajaj Allianz launches mobile application for tax planning
Bajaj Allianz has launched instant tax-calculator for mobile phones that will enable users to calculate their tax liability.
“Mobile phones, being an integral part of our lives have gone beyond the use of just calling or sending SMS. This mobile application is another convenient feature on the mobile that makes your tax calculation and planning simpler, even while you are on the move,” Bajaj Allianz marketing head Akshay Mehrotra said in a statement.
There are no charges for the service. The application is compatible to most mobile phones even without a GPRS connection. The application is compatible with almost all mobile handsets like Nokia, Samsung and Blackberry, including Android-supported handsets.
New Delhi: Indirect tax collection rose by 42.3% to Rs2.07 lakh crore during April-November this year as compared to corresponding period last year, indicating uptick in economic activities, reports PTI.
“Last year’s collections of Rs1.45 lakh crore during the same period constituted an achievement of 54.5% of the overall target fixed for indirect tax collections for the year 2009-10,” an official statement said.
In the current year, indirect tax collections during April-November constitute 66.3% of the overall target of Rs3.13 lakh crore fixed for 2010-11. The indirect tax mainly constitutes customs, central excise and service tax.
The Indian economy is already on a recovery path, registering a gross domestic product (GDP) growth of 8.9% in the first half of the current fiscal. Similarly, industrial output in October rose by 10.8% on back of healthy performance of sectors such as automobile, electronic goods and power.
The Index of Industrial Production (IIP) growth rate on the average stood at 10.3% during the April-October period.
Revenue collections from customs have increased to Rs86,844 crore during April-November 2010, which is 67% higher than the previous year’s collections of Rs52,011 crore in the same period. This constitutes an achievement of 75.5% of the target of Rs 1.15 lakh crore for the whole year 2010-11, the statement said.
The mop up from central excise also rose to Rs81,984 crore during the period April-November 2010, an increase of 34.4% over the previous year’s collection of Rs61,020 crore during the same period.
“These constitute an achievement of 62.8% of the target of Rs1.30 lakh crore fixed for the current financial year 2010-11,” the statement added.
As far as revenue collections from service tax for the period April-November 2010 is concerned, it stood at Rs38,927 crore, an increase of 18.2% over the previous year’s collections of Rs32,927 crore during the same period.
Service tax collections made in the first eight months of the current financial year constitute an achievement of 57.2% of the overall target of Rs68,000 crore fixed for the full financial year 2010-11, it added.