However, storage capacity way behind even present public distribution system procurement need.
Delhi may become the first state to move to direct cash pay-outs of subsidies on kerosene sold through the public distribution system (PDS). The petroleum ministry said it has "welcomed" a proposal to this effect from the Planning Commission, which acted on a plan suggested by Delhi Chief Minister Sheila Dikshit.
"For 2010-11 and beyond, the Kirit Parikh report will be the benchmark. The report is being studied.These decisions are politically sensitive issues and have to be sustained over a period of time," Petroleum Secretary S Sundareshan told Business Standard. "It is impossible to insulate the Indian consumer against the movement in international oil prices."
'Prices can be adjusted now. The government can even temporarily cut taxes'.
A prolonged cold spell in Europe and a rare conjunction of dates in China have combined to wilt the Valentine's Day hopes of rose cultivators in the Hosur region of Tamil Nadu. The two markets together account for 60 to 70 per cent of Hosur's supply, much of it crowded around Valentine's Day, on February 14.
Subhiksha Trading Services, the retail chain whose stores have been closed for more than a year for lack of money, is planning to reopen some through a franchise model, say sources.
The first cargo of 25,000 tonnes of Euro-IV grade diesel from RIL's refinery at Jamnagar was shipped by Hindustan Petroleum Corporation Ltd on Friday, said an informed source. This is also the first coastal supply of Euro-IV diesel for the Indian market.
Retail prices of sugar dipped 6 per cent after the government announced a slew of measures on January 13. Prices of grain and pulses have remained unchanged.
The manufacturing facility is being set up at Oragadam, near this city. The company has planned to set up 55 dealerships by 2012. So far, the company has appointed 23 and plans to add seven more by the end of this financial year.
Political disturbance over the demand for a separate Telangana state is forcing information technology companies to shift. The process to shortlist office space in neighbouring states, like Tamil Nadu, is underway.
New government policy on biofuels may consider financial incentives. Indian Oil Corporation, the country's biggest oil marketing company, is looking to acquire 50,000 hectares of wasteland in Uttar Pradesh for plantation of non-edible oilseeds, such as jatropha and karanjia, that are used for biodiesel production.
Under political pressure, the Centre had to drop a proposal which made the state government pay for the difference between the fair and remunerative price fixed by the Union government, and the state advisory rate.
Industry experts say that even though international companies face problems in setting up new projects on their own, given the problems associated with acquiring land and rehabilitating the displaced people, their keenness to become a part of the growing Indian market remains intact.
The sugar industry is all set to challenge the recent amendment to the Essential Commodities Act, which seeks to introduce a fair and remunerative price (FRP) for sugarcane, besides absolving the government of a Rs 14,000-crore levy price obligation arising out of several court rulings.
The Tiruchi unit of Bharat Heavy Electricals Ltd (BHEL) is considering four-five companies as candidates for acquisitions, its executive director, A V Krishnan, told Business Standard.
It not only wants the ministry of petroleum and natural gas to rework the under-recovery figure for the current year but has also decided to look at the issue of oil subsidies only in February 2010, when the next Budget will be announced.
They want more cash, forex, higher bond coupons and increase in market prices for petrol, diesel, LPG.
Financial losses at nearby units in crores, air quality severely affected
A government that limits its role to regulation would be a great enabler for agricultural growth.
The popularity of the 'parallel banking service' continues to rise.
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