In what could lead to an overhaul of policy, the Union government is looking at a new sugar subsidy mechanism as part of its decontrol proposal. It plans to rope in state governments for the purchase and distribution of sugar to below-poverty-line consumers at market prices.
Ramesh Vangal and foreign investors backing him have decided to exit the Nadar community-controlled Tamilnad Mercantile Bank (TMB).
After briefly maintaining prices at par with public sector oil marketing companies following the June 25 price hike, private fuel retailers Essar Oil and Reliance Industries are selling petrol and diesel at a premium of Rs 0.50 to 2.50 per litre in some states.
GAIL India chairman and managing director B C Tripathi said the availability and possibility of gas has changed with the change in government policy.
The government has told Cairn Energy that its deal with Anil Agarwal-promoted Vedanta Resources will go through only after a formal proposal to the government is made and all clearances are obtained.
The government-owned Oil and Natural Gas Corporation, Cairn India's partner in the Barmer block in Rajasthan, is closely scrutinising the stake sale in Cairn India by Cairn Energy.
In recent days Indian corporate houses are increasingly acquiring companies in Latin America and Europe. But on the other hand these companies are not efficiently managed.
Technical bids opened today for Mallavaram-Vijaipur line, winner in three weeks.
In an interview with Ajay Modi & Jyoti Mukul, ONGC chairman R S Sharma says uncertainties continue in the business even after decontrol of petrol prices.
The Nokia India Employees Progressive Union held discussions with the management on Monday. "The wage settlement offered by company is quite low. We are not happy with that," said Union sources.
Shell India, the domestic arm of Royal Dutch Shell Plc, had offered for sale 20 of its 80 operational retail outlets and around 20 sites acquired earlier for setting up such outlets.
Share prices of both upstream and downstream public sector oil companies fell up to two per cent on Monday. Even Essar Oil, a private fuel retailer, fell 1.50 per cent on the Bombay Stock Exchange.
The DGCA report, a copy of which is with Business Standard, stated that under the Madras high court direction, an inspection was carried out by a team headed by V K Arora, deputy director general, DGCA.
The sustained decline in the price of crude oil has reversed the trend in petroleum product pricing. Private retailers are looking to cut prices from next month, while public sector oil companies have shaved their losses on retail sale of petrol and diesel by more than half.
A price of $4.20 per million British thermal units is not viable for smaller gas discoveries, say industry experts.
The subsidy burden of upstream oil companies, Oil and Natural Gas Corporation and Oil India Ltd, have risen 42 per cent in a single quarter.
Rural retail was supposed to cash in on the prosperity of Bharat, but the storyline hasn't really gone the way big corporate houses had hoped.
Rural retail was supposed to cash in on the prosperity of Bharat, but the storyline hasn't really gone the way big corporate houses had hoped.
The petroleum ministry has put on back burner the proposal to create a national gas highway development authority, following an opposition from the Petroleum and Natural Gas Regulatory Board, which currently has the powers to authorise pipelines.
Siphoning off food and fuel meant for the poor has made India's public distribution system ineffective.
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