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Consumer confidence falls to its lowest since at least 2014

The drop coincides with a deepening slowdown in the economy and rising worries about employment.

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Dec 06, 2019, 11.48 AM IST

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Maruti stock to face pressure on slowing sales, diesel pullback

Maruti Suzuki’s volume fell 24 per cent in the first half of the current fiscal.

What are the primary reasons?

Mercedes SUV GLC drives in to India at a starting price of Rs 52.56 lakh

The latest generation of the GLC is available in both petrol and die...

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  • Railways Minister Piyush Goyal addressed Rajya Sabha, saying India will be the first country to have an entirely electrified rail network. The government aims at converting diesel engines into electric ones, in its commitment towards environment protection. However, he said it is too early to ascertain the exact cost of the project at this stage.

    “The Central government will not offer any direct incentives in the policy or any tax sops, as was being talked about earlier,” an official told ET. “State governments will be free to offer rebates on road tax against a scrapping certificate. Even original equipment manufacturers can allow a discount against a scrapping certificate if they want to boost their sales.”

    Sitharaman has also clarified that currently no new tax on petrol and diesel is being considered.

    The Government said DG sets are used in a large scale in metro line construction, emergency power supply in metro rail, places with tourist infrastructure, central command rooms, waste-water treatment plants, construction and infrastructure works.

    None of the major ‘Make in India’ projects in the defence arena, ranging from new-generation stealth submarines, minesweepers and light utility helicopters to infantry combat vehicles, transport aircraft and fighter jets, have actually taken off in the last six years. The long-pending projects are either stuck or still meandering.

    Huge discounts and extended warranty have attracted consumers looking for value buys.

    German luxury carmaker Daimler plans to cut 1,100 management jobs worldwide in fresh efforts to cut costs as it grapples with expensive recalls and a slowing global market.

    Toyota is looking at stopping sale of small diesel vehicles post the transition to BS VI emissions standards.

    Accounting for a share of 40% of the country's total oil requirement, demand for diesel has reported to plunge 7.4% in October from a year ago which is the biggest monthly fall in three years. Economic slump, extended monsoon, auto sector slowdown, preference for petrol vehicles are some factors behind the downfall in demand for diesel.

    Home Minister Amit Shah launched the supply of 'Special Grade Diesel' in Ladakh, via video conferencing on November 17. Besides Shah, Union ...

    India's state-owned refiners, such as Indian Oil Corp , Bharat Petroleum Crop and Hindustan Petroleum Corp, used to buy in supplies from private companies to meet demand at the pump. But a decline in diesel consumption, which accounts for about two-fifths of overall fuel demand, means that refiners have to export diesel to overseas markets.

    Diesel consumption grew barely 1.1% in the six months to September when it contracted 3.3%. Diesel makes up 40% of India’s total oil demand, which grew just 1.4% in the first half of 2019-20. In FY19, the demand was up 3% for diesel, and 2.7% for total oil.

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