The department had earlier also examined the option of a direct equity sale but opted for a PPP model because it offered revenue sharing opportunities, fertiliser secretary Atul Chaturvedi said. Chaturvedi explained that whereas the outright sale of equity will mean the government will have to wait for the plants to make profits to get a share of revenue, the PPP mode will help it do so in the first year.
Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenfield slag-based cement manufacturing units with a total capacity of 3 million tonnes through a joint venture.
Government-owned Oil and Natural Gas Corporation, the country's largest petro exploration company, wants to hire an ultra deep-sea drill rig, the daily cost of which is about Rs 5 crore.
After voting with sworn political enemy Bharatiya Janata Party (BJP) against its one-time ally the United Progressive Alliance (UPA) last year, the Left is again considering floor co-ordination with the BJP in Parliament.
With production hitting a three-year low of 14.7 million tonnes in this sugar season (October to September), the government is also expected to double the levy quota for the PDS from 10 to 20 per cent to tide over shortages. The levy price and quota act as a notional benchmark for open market sugar prices, which have doubled to Rs 34 to Rs 35 a kg since last September, owing to a global shortage. The price of levy sugar is half that of the open market price.
As Cairn India began to pump crude oil on Monday from its Mangala oilfield here.
RIL's KG basin started pumping gas in April and is currently producing 37-38 mscmd.
Currently, OMCs provide A-I a two-month credit. "There was a request from the committee of secretaries to extend the credit on ATF to three months from the existing two months to help Air India.
The retraction was preceded by a shouting match between Finance Minister Pranab Mukherjee and Railway Minister Mamata Banerji, who had threatened to walk out of a Cabinet meeting protesting some provisions in the Bill earlier this month.
'We want to make Bengal an automobile hub.'
The purpose is to strengthen the ability of policymakers in the developing world to respond quickly and adequately to dynamic developments in the world food system. The portal will contain information regarding food crisis response on its 20 partner countries (mostly in Sub-Saharan Africa, but also in Asia and Latin America and the Caribbean).
As the Congress brass is gearing up for the Cabinet reshuffle after the current Parliament session, Prime Minister Manmohan Singh has sought TC chief Mamata Banerjee's suggestions for her party's new nominee. Banerjee has conveyed to the PM and Finance Minister Pranab Mukherjee that she has nominated Sudip Banerjee for this slot.
Acting against the wishes of the entire state unit of the Congress and even senior central leaders, Gandhi decided to give two prestigious Assembly seats, Sealdah and Bowbazar, to the TC, on Saturday night. Byelections to these seats are slated for this month.
Congress president Sonia Gandhi on Thursday stepped in to ensure cabinet ministers don't keep their junior ministers idle but give them more work to do.After reading out her written speech in the Congress Parliamentary Party meeting in New Delhi on Thursday, Gandhi made an unusual impromptu addition over this issue. According to insiders, Gandhi -- in the presence of Prime Minister Manmohan Singh and most of the Congress cabinet ministers -- pitched for Ministers of State.
According to a Cabinet minister, the UPA's focus during the remaining period of the Budget session will be on passing the Right to Education Bill. Apart from this, the government is planning to bring a Bill to amend the Rubber Act and the National Commission for Heritage Sites Bill. The government will be occupied till July 27 with the General Budget, as contained in the Finance Bill. It will actually not get more than seven days to deal with other legislative business.
India has managed to create ripples in the global commodities market with countries like the US and China set to follow its benchmark price for potash, a fertiliser widely used in the country. Breaking a well-entrenched global cartel, government-owned Indian Potash Ltd has managed to negotiate a potash deal with Russian company Silvinit at $460 a tonne
Development plan for K-G basin runs for 12 years, so can't supply to RNRL for 17 years, says RIL.
Anil Ambani's Reliance Natural Resources Ltd is laying claim (through a family agreement prior to the group's split) to gas from estranged brother Mukesh Ambani's Reliance Industries Ltd at a fixed price of $2.34 per mBtu
Aviation companies are set to get a major relief from high aviation turbine fuel prices. Following a steep decline in crude oil prices, oil marketing companies are looking to cut ATF prices by 5-6 per cent, or Rs 2,000-2,500 a kl across various cities beginning Thursday, said industry sources.
Although the CPI-M has emphasised that the railway panel's post is its top choice, Congress floor managers have already conveyed to the comrades that 'it will be difficult' to fulfil their dreams. The CPI-M is likely to get the chairman's seat in the Standing Committee on coal and steel or energy.
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