Subdued demand reduced freight rates for mining, cement, steel in Nov: Crisil


New Delhi, Dec 5 : Freight rates for mining, cement, and steel have seen some corrections on-month in November as infrastructure-building activities were subdued, ratings agency Crisil said. However, the fall in rates is not significant in comparison with the reduction in duties for diesel. "But this correction is not significantly more than the fall in diesel price in the case of cement. The situation needs to be monitored for the next one-two months," it added. The Centre on November 3 reduced excise duties on petrol and diesel by Rs 5 and Rs 10, respectively. Taking cues from the Centre, some states too followed suit. Notably, since November 3, prices of diesel across the country have been largely steady. On the other hand, freight rates essentials such as 'FMCG/FMCD' (fast moving consumer goods and fast moving consumer durables) remained relatively "resilient" in November. "After the festive stock-up, freight rates for discretionary goods such as auto carriers and textiles are seeing more pressure compared with other sectors," the agency said. /IANS


ODOP items in UP witness 52% quarterly growth
Lucknow, Jan 5 : By promoting the indigenous and specialised products and crafts in Uttar Pradesh on the Flipkart marketplace, the e-commerce platform

TN wants GST compensation regime to be extended till 2024
Chennai, Jan 5 : Tamil Nadu government wants the Goods and Services Tax (GST) compensation regime to be extended by two more years, Governor R.N.Ravi

More than a third of urban Indians oppose the upcoming Cryptocurrency Bill
New Delhi, Jan 5 : As the government readies a Bill on cryptocurrencies, YouGov's latest data shows more than a third of urban Indians (36 per cent) a