The cost of CNG, which will be reduced by up to Rs 15 per kg in the next few days following a rejig in natural gas allocation, will go up by Rs 10.6 a kg in April, when domestic gas prices almost double.
'The Indian economy has been subsidised by the poor.'
The defendants charged with paying the bribes and kickbacks are Sarvesh Dharayan, Sanjay Gupta, Venkata Atluri, Rangarajan Kumar, Vadan Kumar Kopalle and Daren Siriani.
Days after the Cabinet approved doubling of natural gas price from April next year, the Finance Ministry has written to Oil Ministry suggesting setting of a ceiling or an upper limit for the rates.
Government has put on auction the gas discovery area it snatched from Reliance Industries in KG-D6 block and the field that Cairn India is seeking to regain around its Rajasthan block.
The bank guarantee, which will be equivalent to the incremental revenue that RIL will get from the new gas price, will be encashed if it is proved that the company hoarded gas or deliberately suppressed production at the main D1&D3 fields in the eastern offshore KG-D6 block since 2010-11.
The projected output will come from satellite fields in the eastern offshore KG-D6 block as well as North East Coast block NEC-25, off the West Bengal coast.
The state government has formed two committees under the chief secretary and the cane commissioner on the matter.
Mukesh Ambani's Reliance Industries (RIL) might be denied a higher gas price from its D1 and D3 fields until the arbitration process with the government is over and a third-party expert report on the fall in output at the KG-D6 block is out.
'Let us also not expect that there will be a clean break with the past, much though the new government might like to think about it. In a functional democracy that is neither feasible nor desirable. But basic change it must be,' says Shreekant Sambrani.
'A Life With Wildlife is a must for all who are concerned about how a billion Indians will coexist with over 500 mammals and 1,300 birds, not to mention 25,000 flowering plant species in the new century,' says Mahesh Rangarajan.
Congress Vice President Rahul Gandhi on Sunday hit back at Odisha Chief Minister Naveen Patnaik for calling the national party "corrupt", saying the ruling Biju Janata Dal is responsible for a series of scams in the state.
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The CPI(M) on Thursday slammed the Planning Commission estimates on poverty levels in the country, saying these made "a mockery of life and death struggles" of the people, amidst continuous rise in prices and "massive" slashing of subsidies for the poor.
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Following adverse media reaction to the June 27 decision of the Cabinet Committee on Economic Affairs, the finance ministry had issued an office memorandum asking the petroleum ministry to see if there was a way to make RIL clear its gas supply backlog at the existing price.
His finest years came when he served as deputy governor under C Rangarajan.
Since we are at the start of the month and the quarter, we shall look at the broader picture for the markets.
ADB's calculations imply almost half of India's population (47.7 per cent) was below the line in 2010. Both these estimates are based on the year 2005's purchasing power parity rates.
'Sriram Raghavan is mainstream Hindi cinema's greatest gift to us,' declares Sreehari Nair after watching the director's latest movie caper.
The Cabinet on Thursday decided to allow Reliance Industries to almost double the price of natural gas from April provided the firm gave a bank guarantee to cover its liability if gas-hoarding charges are proved.
The DMK combine has won 37 of the 38 LS constituencies in Tamil Nadu, and bagged 13 of the 22 assembly bypolls. What swept away the AIADMK-BJP alliance in the southern state was not dravidian ideology but job loss and graft bias, says N Sathiya Moorthy.
Rajan's exit will neither affect the RBI's de facto independence nor its working.
'From where prime ministers sit, it makes no difference at all who occupies the governor's post.' 'Literally anyone with a decent education or work experience can be appointed to the job, which is basically a managerial one with little room for manoeuvre,' says T C A Srinivasa-Raghavan.
South Zone took command of their Duleep Trophy semi-final after dismissing Central for a mere 209 and scoring 137 for 2 in reply on the second day of the match, in Chennai, on Friday.
Rumours of which tycoon is close to which minister will soon start floating, and those could affect prices in the short term.
A round-up of the second day's play of the Ranji Trophy matches being played in different parts of the country.
From a national point of view, inflation is the biggest threat posed by finance ministers.
'For half a century, Delhi has not seen a truly powerful ruling party president.' 'The Cabinet, chief ministers, and even the heads of the most powerful departments and agencies now acknowledge where power lies, besides the prime minister's office,' says Shekhar Gupta.
The answer seems to be 'yes' since party veterans themselves are questioning the move in the backdrop of the April 24 Lok Sabha polls, even as their hopes of a possible tie-up with Dravida Munnetra Kazhagam seem to have dashed with its chief M Karunanidhi virtually shutting the door despite extending an olive branch.
India's 70th Independence Day at the UN will feature A R Rahman, only the second Indian artist after M S Subbulakshmi to perform at the UN.
Riding on Karun Nair's record innings of 328 and a magnificent all-round performance from captain R Vinay Kumar, Karnataka crushed Tamil Nadu by an innings and 217 runs to successfully defend their Ranji Trophy title.
In the 38-page report, across 10 chapters, RIL explained how it entered the exploration and production business; the history of the New Exploration and Licensing Policy and the introduction of production-sharing contracts.
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
People from all walks of life and political inclinations, budding and aspiring poets and lyricists, looked at Vaali for inspiration, writes N Sathiya Moorthy.
Mahesh Rangarajan, director of the historic Nehru Memorial Museum and Library in New Delhi, tells Sheela Bhatt how the first prime minister will always remain relevant, and the efforts being made to keep his legacy alive.
A summary of the third day's play in the Ranji Trophy matches played at various venues across the country.
The sugar industry clamouring for control and intervention should set the alarm bells ringing in the corridors of power.
If approved, gas price will rise to $6.775 per million British thermal unit from $4.2 currently.
These figures are based on purchasing power parity of 2005.
The size of the hole in today's banking crisis appears to be roughly 10 per cent of GDP.
A round-up of all the Ranji Trophy matches played on Saturday
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