Ending subsidy on kerosene: The government has asked state oil companies to keep raising prices of subsidised kerosene by 25 paise every fortnight until the subsidy is eliminated, or until further orders. Cabinet’s decision would bring the commodity closer to the market price, which will eventually stop diversion for adulteration as well as encourage consumers to switch to LPG.
RBI policy outcome: RBI has cut repo rate by 25 basis points in its third bi-monthly monetary policy outcome on Wednesday, as widely anticipated by the market. Now, the repo rate stands at 6%. Consequently, the reverse repo rate under the LAF stands adjusted to 5.75%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25%.
Anti-dumping duty on Chinese radial tyres: The Directorate General of Anti-Dumping and Allied Duties (DGAD) has recommended the imposition of anti-dumping duty on truck and bus radial (TBR) tyres imports from China in its final report. The report has been submitted to the Finance Ministry which will take the final decision and issue the notification.
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