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India weighs scrapping import tax on US LNG, boost purchases, sources say

NEW DELHI, March 28 (Reuters) – India is considering a proposal to scrap import tax on U.S. liquefied natural gas (LNG) to boost purchases and help cut the trade surplus with Washington, a key irritant for President Donald Trump, four government and industry sources said. The United States is India’s second biggest supplier but the two sides are looking to ramp up volumes for India’s energy-hungry economy, one of the fastest growing in the world. Qatar is the top LNG supplier to India. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news.

Union Cabinet hikes 2% DA/DR for central govt employees, pensioners

New Delhi, Mar 28 (PTI) The Union Cabinet on Friday increased the Dearness Allowance (DA) by 2 percentage points effective from January 1 this year, benefitting nearly 1.15 crore central government employees and pensioners. The Union Cabinet has approved the release of an additional instalment of Dearness Allowance (DA) to central government employees and Dearness Relief (DR) to pensioners with effect from January 1, 2025, representing an increase of 2 per cent over the existing rate of 53 per cent of the basic pay/pension, to compensate against price rise, said Information and Broadcasting Minister Ashwini Vaishnaw after the Cabinet meeting.

Central GST offices to remain open on March 29-31

New Delhi, Mar 28 (PTI) Central GST (CGST) field offices will remain open on March 29-31, the Central Board of Indirect Taxes and Customs (CBIC) said on Friday. The CBIC directive came days after a similar directive from the Central Board of Direct Taxes (CBDT) regarding income tax department offices “to facilitate completion of pending departmental work. The ongoing financial year 2024-25 ends on March 31. The income tax and CGST offices across the country will remain open despite the weekend and Eid-al-Fitr, which may fall on Monday. “All field formations of of CGST shall remain open on March 29,

Economic policies in India made for ‘Bombay club’, says RJD MP

New Delhi, Mar 27 (PTI) Economic policies in the country are not made for the people but for the “Bombay club”, Rashtriya Janata Dal (RJD) MP A D Singh said in the Rajya Sabha on Thursday, adding that the situation was the same under the previous government led by the Congress as well. Participating in a debate on the Finance Bill, Singh quoted a report of the World Bank from 2024, and said India’s economic growth has slowed down, and at current pace, it may take 75 years to reach one quarter of per capita income of the US. He

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