Petrol price

New Delhi, Oct. 29: The government is not considering a reduction in the prices of petrol, diesel and domestic LPG, despite crude falling to its lowest-level in 15 months as prices have to stabilise at the low levels to wipe out the current revenue losses on fuel sales, S. Sundareshan, additional secretary in the oil ministry, said. “There is no proposal to reduce fuel prices. We have to watch the situation for a few more weeks,” he said.

GM sales

New York, Oct. 29: General Motors (GM) said its worldwide vehicles sales declined 11.4 per cent in the third quarter of the year even as the firm saw significant growth in emerging markets, including India. The auto major’s sales for the third quarter stood at more than 2.1 million vehicles.

SEZ tax

New Delhi, Oct. 29: An empowered group of ministers is meeting here tomorrow to find a way of removing anomalies in the calculation of tax benefits for IT special economic zones (SEZ), which account for the bulk of the SEZs approved.