He also said that efforts were on to increase the use of natural gas by four times in this decade and to double the oil refining capacity in the next five years.
Over the years, pravasis have become a constituency, to be tapped, cultivated, and honoured, or at the very minimum to be listened to, says Ambassador B S Prakash.
With inflation down, the government's twin deficits are largely under control.
'We began foolishly bragging about Saudi-Emirati investment plans as indicative of the sheikhs 'distancing' from Pakistan, including on Kashmir,' notes Ambassador M K Bhadrakumar.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
The 30-share Sensex ended down 538 points at 26,781 and 50-share Nifty ended down 152 points at 8,067.
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
Rediff readers tell us what they did with their first salaries.
These firms offer job security and lucrative salries.
The latest round of petrol and diesel price increase, on Thursday, met with opposition from many corners.
Rediff readers tell us what their first salary was and what it meant to them at the time.
Investors continue to make losses on investments.
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.
These refineries, commissioned mostly in the 1950s and 1960s during India's early industrialisation push, are inefficient and costly to maintain compared to their modern counterparts on the coast mainly operated by private companies.
ONGC is raising debt for a spate of acquisitions over the past year
Reliance Industries has regained the top slot among Indian energy companies on the Platts global list
Markets ended in green on rate cut hope.
Markets crashed due to domestic worries; bluechip stocks tanked too.
The Rs 3-trillion West Coast or Nanar refinery has all the potential to become India's flagship petrochemicals project, with the planet's largest oil producer Saudi Aramco as its biggest shareholder. Yet the locals don't see the plant as a harbinger of better times.
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.
Low fuel prices to help oil marketing and refining sectors but upstream players will stay under pressure.
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.
'We aren't so unreasonable as to demand that he should have fully reversed Indira Gandhi's worst economic legacy, bank nationalisation.' 'But he could have made a beginning by selling off the two most stressed small public sector banks, and then announced that each year for the next 10, one government bank with the most messed-up balance sheet will be sold.' 'It would have electrified the markets, shocked his other banks into better behaviour, and marked his name among the great reformers,' argues Shekhar Gupta.
Oil imports are a third of India's total import bill.
The government will seek Parliament's approval for Rs 37,000-crore additional spending on infrastructure development in the second batch of supplementary demands for grant. Earlier this month, Finance Minister Nirmala Sitharaman had announced additional budget of Rs 25,000 crore as capital expenditure (capex) on roads, defence, water supply, urban development and domestically produced capital equipment. Besides, the central government approved issuance of a special interest-free 50-year loan to states of Rs 12,000 crore for infrastructure development.
Interest rate sensitive stocks gain ground post decision
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.
Brokers said a flurry of buying by investors in blue-chips mainly influenced the sentiment.
Diesel makes up nearly half of fuel demand in Asia's No 3 economy.
Sources privy to the development said Maran was being asked to take care of a part of the liabilities.
Analysts are enthused by BPCL's upstream foray and have re-rated the stock in the past couple of years.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Infosys was the top Sensex loser along with other index heavyweights ITC and HDFC.
Rising oil prices and diminishing cash pile to limit capacity in 2018-19
Gains were led by Tata Motors on robust Q1 earnings and HDFC Group shares.
Life Insurance Corporation of India has over Rs 7,000 crore in tax demand pending against it, the biggest across various categories.
Most analysts expect growth in the sales of Nifty-50 companies to decelerate, albeit marginally, in the quarter ended December compared to the corresponding period of 2013-14, with metals and real estate companies pulling down earnings.
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
The fall in international oil prices had resulted in six consecutive reduction in petrol prices since August and two in diesel in the last one month and there was possibility of another round of cuts this weekend.
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
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