Oil prices have declined by more than 60 per cent since January with benchmark crude falling well below $30 per barrel, driven by an acute oil demand decline caused by the coronavirus and a lack of production cuts by OPEC and other oil producing countries.
It is time he stood up and assured the middle class that they can count on him as one of their own, says Dr Sudhir Bisht.
Govt looks to take cooking gas to tiger reserves, Naxal-hit areas
The phased increase of prices is being done to sell the fuel at international prices.
The 2019 list shows a 37 per cent jump in brand value for the Tata group, to $19.55 billion for 2019, the highest in the top 25.
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
Since May 1, the dynamic fuel pricing model has been applied on a pilot basis in 5 cities
According to data shared with the Lok Sabha, 19 road projects awarded after May 2014 were facing delays
Petroleum Minister Dharmendra Pradhan's wish to levy indirect tax on petrol unlikely to be taken up
Jet fuel (ATF) rates were on slashed by a steep 12.5 per cent, the sixth straight reduction in prices since August, as international oil prices slumped to five-year low levels.
In a tweet, Modi said India is 'delighted to welcome' the Crown Prince of Saudi Arabia.
India on Tuesday pitched for a stake in vast oil and gas fields as well as LNG terminals in the frozen Artic of Far East Russia as it looked to import more oil from the former Soviet republic as part of a strategy to diversify its energy basket.
Under-recovery or revenue loss on diesel has risen to Rs 10.48 per litre from Rs 9.99 a litre in the first fortnight of December, an official statement said in New Delhi.
The smaller cylinders will be sold at market rates.
Jet fuel or ATF prices were on Thursday were cut by a steep 4.5 per cent, the first reduction in rates in six months.
Petrol price was cut by Rs 2.43 per litre and diesel by Rs 3.60 a litre, the third reduction in rates this month.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
The Union government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record hike in excise duty on petrol and diesel that has pushed the total incidence of taxation on auto fuels to 70 per cent of the price. Late on Tuesday evening, the government hiked excise duty on petrol by Rs 10 per litre and that on diesel by Rs 13 a litre to mop up gains arising from international oil prices falling to a two-decade low.
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
The reduction in auto fuel prices today was the fifth cut in two months on back of softening global oil prices.
IOC along with HPCL and BPCL took a hit of about Rs 4,500 crore from absorbing Re 1 a litre hike.
Rediff readers tell us what they did with their first salaries.
Finance Minister Nirmala Sitharaman will present her second Budget a little more than a month from now. Like any other FM, Sitharaman will depend on her team of bureaucrats and advisors to frame and present the Budget.
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
Ujjwala Yojana was launched on May 1, 2016 at Ballia district in Uttar Pradesh and has so far covered 47.3 million consumers in 715 districts
Rediff readers tell us what their first salary was and what it meant to them at the time.
Fitch reaffirmed India's rating at 'BBB-' with a Stable Outlook saying the rating balances a still strong medium-term growth outlook compared with similar category peers and relative external resilience stemming from solid foreign-reserve buffers against high public debt, a weak financial sector and some lagging structural factors, including governance indicators and GDP per capita.
Petrol price had been cut 10 times since August 2014.
A total of 180 NSE-listed companies have not appointed a woman director.
Jet fuel constitutes over 40 per cent of an airline's operating costs and the price cut will bring relief to the cash-strapped carriers.
HDFC, ONGC, Maruti Suzuki, HeroMoto Corp and Bajaj Auto gained the most on BSE Sensex
Air fares to go up as ATF price is hiked by 8.2%.
While LPG price was raised by Rs 18, kerosene saw a hike of Rs 3 per litre
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
Petrol prices were on Wednesday hiked by Rs 3.07.
Oil companies on Monday slashed petrol price by Rs 3.02 per litre.
Fuel rates were last revised on February 1 when petrol price was cut by a marginal 4 paise a litre.
Movement of prices in international oil market and rupee-USD exchange rate will be monitored
'The actual price of petrol is Rs 35 and it jumps to Rs 88 because of government taxes.'
'If Indians are as smart as their counterparts in university, and have equal opportunity, then what is the reason that we cannot produce inventions of quality that are recognised by the world?'
