National News
TN CM, FM blame Centre for fuel price hike
Tamil Nadu Chief Minister M.K. Stalin and Finance Minister Palanivel Thiaga Rajan on Thursday blamed the BJP-led central government for hiking the petrol and diesel prices.
Speaking in the state Assembly, Stalin said as the excise duty has to be shared with the state, the Central government reduced that while hiking the cesses and surcharges which are not shared with the states.
The two Ministers were responding to Prime Minister Narendra Modi’s call on Wednesday to states to reduce the Value Added Tax (VAT) on fuel “in the spirit of cooperative federalism”.
Modi on Wednesday lit the fuse citing the Central government reducing petrol and diesel prices by Rs 5/litre and Rs 10/litre, respectively, while many states have not followed suit.
Stalin said hiking the cesses and surcharges the Central government increased the burden on the common man while earning for itself lakhs of crore of rupees.
As per the figures of Petroleum Planning and Analysis Cell (PPAC), the total contribution of the petroleum sector to the central exchequer galloped from Rs 172,065 crore in 2014-15 to Rs 419,884 crore in 2020-21 and for the nine month period in FY22, it was Rs 310,155 crore.
On the other hand, the state’s revenue went up from Rs 160,554 crore in FY15 to Rs 217,650 crore in FY21 and Rs 207,658 crore for the nine month period in FY22.
“While both, the Central and the state governments, say that they get the revenue for investments in infrastructure, the PPAC figures show that the Central government has further leeway to reduce the rates,” an industry official told IANS on the condition of anonymity.
According to Stalin, owing to some state elections, the central government reduced the oil prices and after winning the polls, the prices were hiked fast.
Meanwhile Rajan urged the Centre to remove cesses and surcharges on petrol and diesel revert to the 2014 rates, an act which is fair and simple.
“We have repeatedly urged the Union government to reduce the cesses and surcharges being levied and merge them with the basic tax rates so that states get their rightful share from the proceeds of the Union taxes,” Rajan said.
According to Rajan, since Tamil Nadu levies ‘ad valorem’ taxes which are applied after Central taxes, this move by the Centre will cause an additional loss of about Rs 1,050 crore in annual revenue to the state.
“Given that the Union Government’s taxes continue to be exorbitant, it is neither fair nor feasible for the State Government to further reduce taxes.”
He hoped that the Central government would heed to this reasonable request in the “true spirit of cooperative federalism”.
He said the Centre’s levies on petrol have gone up substantially in the past seven years since Modi took charge for the first time in 2014.
Listing out the basic points and the tax rates on petrol and diesel, Rajan said on August 1, 2014, the basic price was Rs 48.55 per litre for petrol and Rs.47.27 per litre for diesel.
On November 4, 2021, the basic price of petrol was Rs 48.36 per litre while that of diesel was Rs 49.69 per litre.
On August 1, 2014, the Centre’s taxes were Rs 9.48 per litre on petrol and Rs 3.57 per litre on diesel. At that time, the state government taxes were at Rs 15.67 per litre on petrol and Rs 10.25 per litre on diesel.
“Prior to the reduction of taxes on petrol and diesel by Union Government, the levy of tax, including cesses and surcharges by Union Government on petrol was Rs 32.90 per litre and Rs 31.80 per litre on diesel,” he said.
“This has been reduced to Rs 27.90 per litre for petrol and Rs 21.80 per litre for diesel after the cut. So, when compared to 2014 (when basic price was roughly the same), the Union government still levies an additional tax of Rs 18.42 per litre for petrol (an increase of roughly 200 per cent) and Rs 18.23 per litre for diesel (an increase of over 500 per cent) compared to the taxes in effect when it took office in 2014.
“Though the revenue to the Union government has increased manifold, there has not been a matching increase in the revenues to States. This is because the Union government has increased the cess and surcharge on petrol and diesel while reducing the basic excise duty that is shareable with the states.
“In 2020-21, the revenue to the Union government from levies on petrol and diesel was Rs 3,89,622 crore which was 63 per cent higher than the revenue of Rs 2,39,452 crore in 2019-20. On the other hand, the government of Tamil Nadu in 2020-21 received only Rs 837.75 crore as share of the tax devolution from the Union Excise Duties on petrol and diesel as against the Rs 1,163.13 crore received in 2019-20,” the Minister added.
According to Rajan, after the advent of the Goods and Services Tax (GST) regime, the states have lost substantial powers to levy their own taxes and raise revenue.
“Further, the GST compensation regime comes to an end on June 30 and most states including Tamil Nadu have already requested the compensation to be extended considering the strain caused by the pandemic on state finances. However, there is no clarity from the Union government on whether the compensation will continue or not after June 30.”
On bringing petrol and diesel under the GST regime, Rajan had earlier said it can be done provided the Central government scraps the cess and surcharge levied on them.
On the other hand, AIADMK’s late Chief Minister J. Jayalalithaa was a strong advocate for changing the fuel pricing formula.
She had argued that the fuel rates should be determined based on import costs and refining charges and rates of domestic crude oil and the refining charges for the same instead of basing it on trade parity Price.
Crime
CPI-M’s Kerala local polls candidate sentenced to 20 years in bomb attack case

Kannur (Kerala), Nov 25: V.K. Nishad, the CPI-M candidate contesting from Ward 46 of Kerala’s Payyannur Municipality, now faces a serious legal roadblock to becoming a people’s representative after a court here on Tuesday sentenced him to 20 years in prison in an over-decade-old bomb attack case.
If he wins the upcoming local body polls, his ability to assume office will be severely restricted due to this conviction.
The Thaliparamba Additional District Sessions Court sentenced Nishad and fellow CPI-M worker T.C.V. Nandakumar to 20 years’ rigorous imprisonment and imposed a fine of Rs 2.5 lakh each.
However, the court observed that serving 10 years would be sufficient to execute the sentence.
The verdict has sent shockwaves through local political circles, particularly as Nishad is actively campaigning as the CPI-M-backed LDF nominee.
The case dates back to August 1, 2012, when police personnel were reportedly targeted with country-made bombs in Payyannur town.
The attack occurred following heightened tensions over the arrest of senior CPI-M leader P. Jayarajan in connection with the Shuhaib murder case.
According to the prosecution, Nishad and his associates hurled bombs at the police with the intent to kill, prompting charges under IPC Section 307 (attempt to murder) and Sections 3 and 4 of the Explosive Substances Act.
The court, presided over by Additional Sessions Judge K.N. Prashanth, held both accused guilty of attempted murder and illegal use of explosive materials.
The judge noted that the attack was not merely an act of protest, but a deliberate attempt to cause grievous harm to law enforcement officers.
With the local elections approaching, the ruling has thrown up a serious dilemma for the LDF camp.
If Nishad secures a win, legal and procedural challenges could prevent him from officially taking charge as a municipal councillor due to disqualification norms linked to criminal convictions.
As the political and legal ramifications unfold, Payyannur and Kerala watch closely.
Crime
Clock starts to tick for actor Dileep as court verdict in actress abduction case slated for Dec 8

Kochi, Nov 25: A Kerala court on Tuesday announced that it will pronounce its verdict on December 8 in the sensational 2017 actress abduction and assault case, in which popular Malayalam actor Dileep stands as the eighth accused, charged with criminal conspiracy.
The Ernakulam Principal Sessions Court has directed all 10 accused to be present in the Court on December 8.
Dileep was arrested and spent several weeks in jail before getting bail in 2017.
The case stems from one of the most shocking incidents in Kerala’s recent history.
On February 17, 2017, a leading Malayalam actress was abducted and sexually assaulted inside a moving car while travelling from a film set in Thrissur to Kochi.
The prime accused, Sunil Kumar alias Pulsar Suni, was arrested soon after, along with his close associates, all alleged to be part of the assault plan.
After spending seven years in jail, Suni was recently granted bail by the Supreme Court.
Investigators state that Suni had been working on film shooting sets as a driver since 2010 and had known Dileep personally.
According to the police charge sheet, Dileep allegedly harboured deep personal resentment against the actress, accusing her of informing his former wife about his alleged relationship with another actor — a development that reportedly caused friction and led to marital upheaval.
The prosecution claims this strained personal equation led to a conspiracy, with Dileep purportedly seeking revenge by using Suni and his associates to intimidate and humiliate the actress.
Dileep, however, has consistently denied all allegations, claiming he has been framed.
The case, unprecedented for its combination of cinema and crime, has seen prolonged legal proceedings, high-stakes witness testimonies, multiple forensic examinations, allegations of evidence tampering, and intense media scrutiny over the years.
As the court moves toward the long-awaited verdict, the Malayalam film industry, legal observers, and the public are preparing for a judgment that could have far-reaching implications not just for the high-profile accused but for questions of justice, accountability, and the rights of survivors in India’s entertainment sector.
Business
Sensex, Nifty end lower over monthly Futures and Options expiry

Mumbai, Nov 25: Indian stock markets ended in the red on Tuesday as traders reacted to the monthly expiry of Nifty futures and options contracts for the November series.
The Sensex closed 313.7 points lower at 84,587.01, a decline of 0.37 per cent. The Nifty also slipped, ending 74.7 points or 0.29 per cent down at 25,884.8.
“On the Nifty options front for the upcoming weekly expiry on December 2, significant call buildup was recorded at the 26,000 and 26,200 strike levels, while on the put side, notable additions were seen at the 26,000 and 25,500,” experts said.
Among key stocks on the Sensex, Trent, Tata Motors PV, HCLTech, Infosys and Power Grid were the top losers.
On the other hand, Bharat Electronics Ltd (BEL), State Bank of India (SBI), Tata Steel and Eternal were among the major gainers.
Sector performance was mixed. The Nifty Realty index gained 1.62 per cent, making it the best-performing sector of the day, while Nifty PSU Bank rose 1.44 per cent.
However, Nifty IT fell 0.57 per cent and Nifty Media dropped 0.80 per cent.
Broader markets were more resilient than the frontline indices. The Nifty Midcap 100 index gained 0.36 per cent, while the Nifty Smallcap 100 added 0.19 per cent — showing continued buying interest in mid- and small-cap stocks.
Market experts said the expiry-related volatility and profit booking weighed on benchmarks, while select sectors continued to see fresh inflows ahead of December trading sessions.
“Caution prevailed as investors awaited clarity on a possible rate cut in the upcoming FOMC meeting and progress on the Indo-US trade deal, despite some improving signals,” analysts said.
They added that selling pressure is visible near the 26,000 level, though downside appears limited given strong domestic fundamentals, including a solid earnings outlook for H2.
“PSU banks and real estate stocks outperformed, supported by a strong revival in home loan demand and rising market share for PSU banks,” analysts mentioned.
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