Oil marketing companies (OMCs), paint manufacturers, tyre producers, and aviation stocks witnessed significant gains as Brent crude oil prices slipped below $70 per barrel. The price drop came after a double blow: The US imposed tariffs on Canada and Mexico, including energy imports, and OPEC+ - the group of major oil-producing nations including Russia - announced an output increase of 138,000 barrels per day, the first such hike since 2022.
Jet fuel prices on Wednesday were cut by 1.3 per cent -- the first reduction after 10 rounds of price hikes -- on softening international crude oil rates. Simultaneously, prices of commercial LPG - used by business establishments such as hotels and restaurants - were reduced by Rs 135 per 19-kg cylinder. The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- has been reduced by Rs 1,563.97 per kilolitre, or 1.27 per cent, to Rs 1,21,475.74 per kl (Rs 121 per litre) in the national capital, according to a price notification of state-owned fuel retailers.
Dr Manmohan Singh, the architect of India's economic reforms, had to literally face a trial-by-fire to ensure widespread acceptance of his path-breaking Union Budget of 1991 that saw the nation rise from its darkest financial crises.
LPG customers of Bharat Petroleum Corporation Limited (BPCL) will continue to get cooking gas subsidy post-privatisation of the nation's second-biggest fuel retailers, Oil Minister Dharmendra Pradhan said on Friday. "Subsidy on LPG is paid to consumers directly and not to any company. So the ownership of the company that sells LPG is not of any material consequence," Pradhan told PTI. The government gives 12 cooking gas (LPG) cylinders of 14.2-kg each to households in a year at a subsidised rate.
Four cities in neighbouring Pakistan and one in China are among the world's top 20 polluted cities.
Four women died and five others were injured after an explosion caused three houses to collapse in Madhya Pradesh's Morena city. The incident took place in the city's Rathore Colony area around midnight. The body of one of the deceased women was still being extricated from under the debris. Vasudev Rathore, whose house was destroyed in the explosion and whose 28-year-old daughter-in-law was among the deceased, expressed suspicion that the blast was caused by gunpowder. LPG cylinders were found intact during the removal of debris. The injured persons were sent to Gwalior for further treatment.
Only 48.3 per cent of the rural households used LPG, while the figures were much higher in urban areas at 86.6 per cent, according to a NSO report.
GAIL India's second quarter (Q2FY25) performance met expectations.
Congress president Mallikarjun Kharge has accused the BJP of rigging the Maharashtra assembly elections and called for a return to ballot paper voting. He also criticized the Modi government for selling off public assets, undermining democratic institutions, and promoting communal polarization. Kharge's remarks come as the Congress prepares for its AICC session in Ahmedabad, where it will present its political and economic views.
The price of liquefied petroleum gas cylinders across all categories, including subsidised LPG, was on Wednesday hiked by Rs 25 per cylinder -- the third straight increase in rates in less than two months.
India's decadal census is likely to be further delayed after the budget allocated only Rs 574.80 crore for the exercise, a significant reduction from previous years. The census, originally scheduled for 2021, has been postponed due to the COVID-19 pandemic, and the government has not yet announced a new schedule. The budget allocation suggests that the exercise may not be carried out even after the delay. The upcoming census will be the first digital census, allowing citizens to self-enumerate using a dedicated portal. The exercise will be made compulsory for citizens who wish to self-enumerate, and Aadhaar or mobile numbers will be required. The census will include questions on household demographics, amenities, and economic status.
Petrol and diesel prices were on Tuesday hiked by 80 paise a litre while domestic cooking gas prices were increased by Rs 50 per cylinder, ending an over four-and-half month election-related hiatus in rate revision, sources said. Petrol in Delhi will now cost Rs 96.21 per litre as against Rs 95.41 previously while diesel has gone up from Rs 86.67 per litre to Rs 87.47. Simultaneously, the price of a non-subsidised LPG cylinder has been increased to Rs 949.50 for each 14.2-kg bottle in the national capital.
India, the world's third largest energy consumer, has enough petrol, diesel and cooking gas (LPG) in stock to last way beyond the three-week nationwide lockdown, as all plants and supply locations are fully operational, Indian Oil Corp (IOC) chairman Sanjiv Singh said.an Singh, who continued to oversee the mammoth operations of ensuring that fuel reaches every nook and corner despite the loss of his father on the day the 21-day lockdown was declared, said there was no shortage of any fuel in the country and customers should not resort to panic booking of LPG refills.
Afan, a 23-year-old man from Kerala, allegedly killed five people, including his brother, grandmother, paternal uncle, aunt, and his girlfriend, in a series of brutal hammer attacks. The victims were found with severe head injuries, indicating the severity of the assaults. The accused, who was reportedly a drug abuser, calmly walked to the police station after committing the murders, informing officers about the killings. Police are investigating the motive behind the horrific crime.
Despite the increase, at Rs 64.32 per litre ATF costs less than petrol and diesel.
Continuing the downward trend, retail inflation fell to a five-month low of 4.31 per cent in January, mainly due to a decline in the prices of vegetables, eggs, and pulses. The Consumer Price Index-based retail inflation was 5.22 per cent in December and 5.1 per cent in January 2024. The previous low inflation was in August 2024 at 3.65 per cent.
The government has asked the rich to give up subsidies on LPG to make them available to people who deserve it.
Gehlot made the announcement in the presence of Congress president Mallikarjun Kharge and former party chief Rahul Gandhi at a rally here on the sidelines of the "Bharat Jodo Yatra".
Trends in the global energy markets are crucial if India's growth outlook is to remain healthy. Prices for the Indian crude basket were averaging around $86.2 per barrel through Q1FY25 and then moderated to $84 in July and to $78-79 in August (so far). But global crude supply may outpace weak global demand in the short term.
The Congresshas announced a three-phased campaign, "Mehngai-mukt Bharat Abhiyaan".
If the LPG consumer does not have an Aadhaar number, he can directly receive subsidy in his bank account without the use of Aadhaar number
Given that the target was to reach 80.34 million families under PMUY - within three months starting April 1 - the government should have distributed at least 241.02 million cylinders by the end of June. It actually ended up distributing only 119.7 million cylinders.
Many users did not know that their entitlement was not coming to their regular bank account but going to an account which they had not applied for.
Cooking gas LPG price on Wednesday was hiked by Rs 15 per cylinder in line with a surge in international fuel prices. Rates of both subsidised and non-subsidised LPG prices were hiked, oil company officials said. Cooking gas now costs Rs 899.50 per cylinder in Delhi.
'The loco pilot alerted the railway officials who passed the information to the Railway Protection Force (RPF) and Kanpur police, which launched the investigation into the matter'
Over 100 beneficiaries of the Pradhan Mantri Ujjwala Yojana from 20 states will share with the LPG panchayat their experiences of how clean cooking fuel has changed their lives, in the presence of President Ram Nath Kovind.
The cost of non-subsidised LPG -- the one that consumers buy after exhausting their quota of 12 bottles of 14.2-kg at below market price -- has been cut by Rs 100.5 to Rs 637.
Government gives 3 months, starting June, for the 20 districts to be covered under its direct benefits transfer scheme.
ATF or jet fuel price has been cut marginally while rate of non-subsidised cooking gas LPG has been hiked by Rs 27.50 a cylinder.
With the price of a cylinder touching Rs 800, it's becoming increasingly unaffordable to an already price-sensitive population, threatening to risk one of the most-celebrated campaigns of the Modi regime, reports Twesh Mishra.
A 14.2-kg subsidised LPG cylinder will cost Rs 494.99 in Delhi, while non-subsidised LPG rates have been cut by a steep Rs 120.50 per cylinder
The relaxation would be available only to those beneficiaries who have been credited with the advance for buying the cylinder but have not been able to purchase the refill.
Modi said the transformations in the country in the past 10 years have reignited a risk-taking culture among the citizens.
An FIR has been registered against unknown persons after the police and railway staff recovered a 25-foot long iron rod from the Pilibhit-Bareilly railway track in Uttar Pradesh. The iron rod was found on the track near Lalouri Kheda, forcing a train to stop for four minutes after its engine hit the object. The incident is being investigated as a deliberate attempt to harm the train and its passengers.
Congress general secretary Priyanka Gandhi Vadra on Monday said her party has prepared a separate manifesto for women for the upcoming Uttar Pradesh assembly polls, and promised them free LPG cylinders and travel in government buses if voted to power.
The government had last year excluded those with an annual income of more than Rs 10 lakh from LPG subsidy
'I wonder if they will keep it up after the elections.' 'I fear they'll start questioning eligibility -- income, age, bank accounts -- and eventually stop the scheme altogether.'
President Droupadi Murmu addressed both Houses of Parliament, highlighting the government's achievements in various sectors, including economic growth, social welfare, and infrastructure development. She emphasized the government's efforts to lift the economy out of "policy paralysis" and create a more inclusive society. Murmu also acknowledged the challenges posed by digital fraud and cybercrime and stressed the need for a social infrastructure revolution. The President's speech is considered a policy statement, outlining the government's vision and roadmap for the future.
Price of non-subsidised cooking gas (LPG) was today cut by Rs 43.50 per cylinder as international oil rates slumped to their lowest since May 2009.
The incident occurred between Saradhna and Bangad stations of the Western Dedicated Freight Corridor on the Phulera-Ahmedabad stretch.
