Business
‘Tobacco Prices Increased Annually Even Before GST’: Nirmala Sitharaman During Excise Bill Debate
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FM Nirmala Sitharaman says higher prices or taxes on tobacco products are intended to act as a deterrent so that people would not get into the habit.
Finance Minister Nirmala Sitharaman replies to the discussion on the Central Excise (Amendment) Bill, 2025, in the Lok Sabha.
Finance Minister Nirmala Sitharaman on Wednesday said higher prices or taxes on tobacco products are intended to act as a deterrent so that people would not get into the habit. She said that even before the GST regime, tobacco rates were increased annually. The finance minister said this during her reply to the discussion on the Central Excise (Amendment) Bill, 2025, in the Lok Sabha.
The bill seeks to revise excise duties on tobacco and related products after the GST compensation cess, currently levied on ‘sin goods’ such as cigarettes, chewing tobacco and nicotine-based items, expires next year.
“Even in India, prior to GST, tobacco rates were increased annually. This was primarily due to health-related concerns, as higher prices or taxes were intended to act as a deterrent so that people would not get into the habit,” Sitharaman said during her reply.
The proposed legislation is part of a broader tax restructuring exercise around tobacco and pan masala. On Monday, Sitharaman introduced two bills that aim to maintain a high tax burden on these products while repurposing the levy structure.
The Central Excise (Amendment) Bill, 2025 proposes a new excise duty framework for tobacco products, ensuring continued revenue once the compensation cess lapses. Separately, the Health Security se National Security Cess Bill, 2025, seeks to impose a cess on pan masala and other notified goods, with proceeds earmarked for healthcare and national security initiatives.
The shift is designed to ensure that the effective tax incidence on demerit goods remains unchanged even after the cessation of the cess, which was originally introduced alongside the rollout of GST in 2017 and later extended to cover Covid-related liabilities.
Defending the policy approach, Sitharaman emphasised the need to sustain deterrence-based taxation on harmful products. Opposition members raised objections during the debate, with some of them questioning lack of health warnings in the bill and others saying the cess-based collections are not shared with states.
Debate on the bill is expected to continue this week as the government seeks passage of key tax measures ahead of the phase-out of the cess by March 2026.
Click here to add News18 as your preferred news source on Google. December 03, 2025, 18:10 IST
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Business
IndiGo Share Price Slips 2% In Focus As Massive Flight Disruptions Hit Operations Nationwide
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InterGlobe Aviation Limited faced nationwide IndiGo flight delays and cancellations due to technology issues, congestion, weather, and new crew rostering rules.
IndiGo Plane (Representative Image)
IndiGo Share Price: Shares of InterGlobe Aviation Limited, the parent firm of IndiGo airline, slipped 2 per cent intraday to touch a low at Rs 5,405 apiece today, after the operator faced massive flight delays and cancellations nationwide due to technology issues, airport congestion, and operational requirements.
The disruption has left thousands of passengers stranded at airports. On Wednesday, multiple airports, including Delhi, Mumbai, Hyderabad, Bengaluru, Ahmedabad, reported over 100 flight cancellations till the afternoon.
The scrip was trading at Rs 5,545 apiece, with a fall of 0.88 per cent around 9.40 AM, against the previous day close at Rs 5,595 apiece.
In a statement, the airline acknowledged that its operations had been “significantly disrupted across the network for the past two days” and issued an apology to passengers.
“A multitude of unforeseen operational challenges including minor technology glitches, schedule changes linked to the winter season, adverse weather conditions, increased congestion in the aviation system and the implementation of updated crew rostering rules (Flight Duty Time Limitations) had a negative compounding impact on our operations in a way that was not feasible to be anticipated,” an IndiGo spokesperson said as stated in the statement.
To stabilise operations, the airline said it has begun calibrated adjustments to its flight schedules, a temporary measure expected to remain in place for the next 48 hours. The adjustments, it said, will help restore punctuality and limit further disruptions.
The cascading disruptions also reflect the airline’s recent struggles with punctuality. Government data showed that only 35% of IndiGo flights were on time on December 2, and 49.5% operated on time on December 1.
“Our teams are working around the clock to ease customer discomfort… affected customers are being offered alternate travel arrangements or refunds, as applicable,” the spokesperson added.
IndiGo has urged passengers to check flight status online before heading to the airport, as terminals in several cities remain crowded with stranded travellers seeking rebooking and assistance.
The airline is facing a severe pilot shortage ever since the new flight duty time limitation (FDTL) norms became applicable last month, which lay out more humane rostering for crew.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Click here to add News18 as your preferred news source on Google. December 04, 2025, 08:43 IST
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Russia has blocked access to popular gaming platform Roblox due to concerns over child safety and extremism, including the spread of LGBT-related content.
The country’s media regulator said Roblox had become rife with “inappropriate content that can negatively impact the spiritual and moral development of children”, according to local news outlets.
The multiplayer online platform ranks among the world’s most popular, but has been heavily criticised over its lack of features to protect children.
A spokesperson from Roblox said the company respects the laws where it operates, adding that the platform provides a “positive space” for learning.
“We have a deep commitment to safety and we have a robust set of proactive and preventative safety measures designed to catch and prevent harmful content on our platform,” the spokesperson said in response to the BBC.
Russian media reported that Roskomnadzor, the country’s media regulator, blocked the US platform over concerns about terrorism-related content and information on LGBT issues, which are classified as extremist and banned in Russia.
Such activity is often found in Roblox’s servers, where scenarios simulating terrorist attacks, as well as gambling, have surfaced, the agency is quoted as saying.
Roblox, which ranks among Russia’s most downloaded mobile games in recent years, allows players to create and share their own games – a model that has made regulation challenging.
The Roskomnadzor also flagged reports of sexual harassment of children and the sharing of intimate images on the platform. Other countries have raised similar issues, and the platform is already banned in certain countries, including Turkey, over concerns about child safety.
Roblox also came under scrutiny in Singapore in 2023 after the government there said a self-radicalised teenager had joined ISIS-themed servers on the platform.
Last month, Texas Attorney General Ken Paxton sued the platform over “flagrantly ignoring” safety laws and “deceiving parents” about the dangers it posed to young people.
This month, Roblox announced it would stop allowing children to chat with adult strangers, after longstanding criticism over the platform’s networking feature.
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Stocks to watch: Shares of firms like Infosys, ONGC, Pine Labs, JSW Steel, IndiGo, Tata Capital, and others will be in focus on Thursday’s trade
Stocks To Watch
Stocks to Watch on December 4: Markets saw a volatile session and settled marginally lower, extending the ongoing consolidation phase. Sentiment took a hit as the rupee weakened to a record low of 90.13 against the dollar, raising concerns over higher import costs and triggering FII outflows. Caution ahead of the MPC meeting and mixed global cues further weighed on investor mood.
During the session, the Nifty slipped below the key short-term support of the 20-DEMA near the 25,950 level, but a recovery in the final hour helped it reclaim this mark. Analysts advised investors to manage position sizes carefully and stay selective—preferring IT and pharma stocks for long trades, while looking at rate-sensitive sectors on dips.
Meanwhile, here are some of the top stocks to watch today:
ONGC:
The government has approved a one-year extension for Arun Singh as chairman of ONGC. His three-year term was set to end on December 6. Singh, who retired as chairman of Bharat Petroleum Corporation in 2022, was appointed to revive ONGC at a time when the company was facing years of declining output.
Reliance Industries:
Reliance Strategic Business Ventures, a wholly owned subsidiary of Reliance Industries, along with Surrey County Cricket Club, announced a partnership in the Oval Invincibles franchise in The Hundred. This follows a deal under which the two entities will hold 49 per cent and 51 per cent stakes, respectively, with ownership transferred from the England and Wales Cricket Board.
Infosys:
The IT major is witnessing rising client interest in India-based global capability centres (GCCs). Several new engagements are now beginning with proposals to set up GCCs before expanding into wider technology partnerships, a senior executive said on Wednesday. The company is also stepping up efforts to capture a larger share of the expanding GCC market.
Pine Labs:
The fintech firm reported a consolidated net profit of ₹5.97 crore in Q2 FY26, compared with a loss of ₹32.01 crore in Q2 FY25. Revenue from operations rose 17.82 per cent year-on-year to ₹649.9 crore from ₹551.57 crore.
Cipla:
In partnership with Stempeutics Research, Cipla announced its entry into orthobiologic medicine with the launch of Ciplostem—an allogeneic mesenchymal stromal cell (MSC) therapy for knee osteoarthritis.
JSW Steel:
Sajjan Jindal-led JSW Steel and JFE Steel Corporation will jointly own and operate the steel business of Bhushan Power and Steel Ltd (BPSL) under an equal partnership. The Japanese steelmaker will acquire a 50 per cent stake in the joint venture for ₹15,750 crore.
InterGlobe Aviation (IndiGo):
India’s largest airline has cancelled more than 300 flights over the past two days and delayed hundreds more as a growing pilot shortage disrupted operations following the implementation of new flight duty time limitation (FDTL) rules, aviation industry sources said.
RailTel Corporation of India:
The company informed exchanges that it has received a work order from the Mumbai Metropolitan Region Development Authority for a project worth ₹48.78 crore, excluding tax.
Indian Energy Exchange:
India’s leading electricity exchange recorded a monthly electricity traded volume (excluding TRAS) of 11,409 MU in November 2025, reflecting a 17.7 per cent year-on-year increase. A total of 4.74 lakh Renewable Energy Certificates were traded during the month.
Bank of Maharashtra:
The offer-for-sale (OFS) of the bank closed for subscription on Wednesday at a floor price of ₹54 per share. At this price, the government stands to raise about ₹2,492 crore by divesting its 6 per cent stake. Before the OFS, the government held 79.60 per cent in the bank. Post dilution to 73.6 per cent, the bank will meet the minimum public shareholding (MPS) norm of 25 per cent.
Tata Capital:
Sebi has passed a settlement order related to a suo motu settlement application filed by the company under the Sebi (Settlement Proceedings) Regulations, 2018. Tata Capital also said it has paid the settlement amount of ₹14,40,000.
Lemon Tree Hotels:
The company has signed a licence agreement for “Lemon Tree Hotel” at Pacific Mall, Jaipur. The property will be managed by Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels Limited.
Vintage Coffee and Beverages:
The company has launched 100 per cent pure instant coffee in India as part of its expansion into the fast-growing coffee and beverages market. Following the opening of the Vintage Coffee Café in Nerul, Navi Mumbai in September 2024, and the successful launch of two brands in the conventional roast and ground coffee segment on select e-commerce platforms, the instant coffee launch further strengthens its product portfolio and consumer reach.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Click here to add News18 as your preferred news source on Google. December 04, 2025, 07:59 IST
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