Cricket, the "gentleman's game", has been hit by a series of gambling-related scandals in international matches in recent years. But S.Sreesanth's case is the first time allegations of "fixing" in the IPL are being heard in a court of law, despite a huge, illegal betting industry that has grown up around the tournament. Full Article
Breakingviews columnists discuss the implications of inflation being in decline globally. Video
For months, markets have been dancing to central bankers' tune, but that may now be changing, writes James Saft. Full Article
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Aviation ministry looks for ways to slash jet fuel prices
NEW DELHI |
NEW DELHI (Reuters) - The civil aviation ministry will try to convince the country's petroleum ministry next week to declare jet fuel as a "notified good," which would lead to exemption from high state taxes, providing some relief to battered local carriers.
Jet fuel makes up about half of an airline's costs.
Civil aviation minister Ajit Singh will meet petroleum minister M. Veerappa Moily early next week to discuss the matter, the former told reporters on Thursday.
State taxes of as much as 30 percent make jet fuel more than 50 percent expensive in India compared with the global average, and global airlines have often criticized such high taxation.
(Reporting by Anurag Kotoky; Editing by Prateek Chatterjee)
- Tweet this
- Share this
- Digg this