Top headlines: Customs, excise mop-up, 42 companies approved for PLI & more

Customs, excise mop-up likely to see Rs 1-trillion shortfall in FY23

The Centre is staring at a combined shortfall of up to Rs 1 trillion in excise and Customs revenues in the current financial year (FY23) compared to the Budget estimates (BE), mainly because of duty cuts on edible oil and petroleum products.

The government set a target of Rs 3.35 trillion for excise and Rs 2.13 trillion for Customs mop-up for FY23 while presenting the Budget in February. Read more

Registration of electric passenger, motor vehicles doubles this year

Electric passenger and motor vehicles (light, medium