The government lowered the ‘windfall’ levy on domestic crude and fuel exports on Wednesday in the first review of the tax imposed on July 1 this month as international crude oil prices softened.

Consistent volume declines, especially in rural areas, are causing stress and inflation has exacerbated that, Hindustan Unilever (HUL) managing director Sanjiv Mehta said, urging the authorities to manage interest rates without stifling growth.

A slew of global electronics and hardware manufacturers are petitioning the Centre for an early release of payments due to them under the country’s ambitious production-linked incentive (PLI) scheme, people directly in the know told ET.

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