The government on Thursday sanctioned Rs 17,772 crore (Rs 177.72 billion) cash subsidy to fuel retailers like IOC to cover for half of the revenues they lost on selling diesel and cooking fuels below cost in the September quarter.
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The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd to give Rs 16,729.74 crore (Rs 167.29 billion) to make up for 47 per cent of the Rs 35,328-crore (Rs 353.28 billion) revenue that retailers lost on selling diesel, domestic LPG and kerosene at government controlled rates in second quarter.
'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?'
Reliance improved its ranking this year to 121 from 142 last year, with a market value of $50.6 billion and assets worth $91.5 billion.
Digital-pay companies see 10x growth spurt after demonetisation, report Ayan Pramanik & Shine Jacob/Business Standard from Bengaluru.
Reliance Industries leads the pack of 56 Indian companies.
For BCPL's branded petrol, Speed, the price differential with regular petrol is now between Rs 2.74 and Rs 3.75 per litre.
In Maharashtra, the oil industry had tenancy protection till 1999.
The Vedanta group on Wednesday confirmed putting in a preliminary expression of interest (EoI) for buying the government's stake in Bharat Petroleum Corp Ltd (BPCL).
The move is expected to bolster India's energy security.
I admire Kejriwal's intelligence but pity the fact that he had to use all the ingenuity and scheming to achieve his revenue enhancement goal, says Sudhir Bisht.
'Fiscal purists would quarrel with the idea of selling assets to pay for current expenditure -- such as the payout to farmers and the health insurance programme -- for the obvious reason that the process cannot go on forever.' 'At some point, the list of assets available for sale will run out,' notes T N Ninan.consultations -- something already aired in connection with the lease of airports to the Adani group, says T N Ninan.
'He keeps reminding me he is senior. There is no debate in this. I have never shown any disrespect to you since you are a senior,' the PM said.
The S&P BSE Sensex closed 318 points at 24,455 and the Nifty50 shed 99 points to end at 7,438.
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.
Inclusive of the July hike of 25 paise, a monthly increase of similar amount would result in a saving of Rs 2.25 a litre for the current financial year alone.
Cairn India is 25th on the list with 22.2 per cent CGR.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Reason behind for the change in his stance: gas price increase.
Quite a few large- and mid-cap stocks are yet to recover from the note ban, pharma, banking and rural demand-based industries among laggards.
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.
The companies' underrecoveries stood at a whopping Rs 1,39,869 crore last financial year. Of that, Rs 62,837 crore was accounted for by diesel alone.
Sun Pharma was by far the biggest gainer in the Sensex pack, surging 8.13 per cent, followed by Dr Reddy's at 4.92 per cent.
In a resolution passed at its national assembly in Haridwar, the SJM said the Modi government's proposed strategic divestment of PSEs was an "imprudent business decision" and "against national interest".
With inflation down, the government's twin deficits are largely under control.
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.
Opposition members in the Lok Sabha on Monday blamed the Bharatiya Janata Party-led central government's policies for the price rise and accused it of ignoring the plight of common people, saying kitchens will soon "see a lockdown" if the Centre does not take corrective measures.
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.
'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.
A new Congress leader may make an electoral impact by his very presence. Congress voters who had moved away from the party, after being influenced by the BJP's 'family rule' campaign, can now return with a certain moral satisfaction, observes N Sathiya Moorthy.
These firms offer job security and lucrative salries.
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
The latest round of petrol and diesel price increase, on Thursday, met with opposition from many corners.
Rediff readers tell us what they did with their first salaries.
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.
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