The move is aimed at making it easier to do business in India.
The Cabinet Committee on Economic Affairs may raise the subsidised LPG cylinder quota from 9 to 12 at the next meeting, Petroleum Minister M Veerappa Moily said.
Under-recovery or the gap between retail selling price and the cost of import, this month dipped to an all-time low of 8 paise a litre, helped by the monthly increases and softening in international oil rates.
Could get $8.4 per mmBtu from April 2014 by furnishing bank guarantee that would be encashed if D1, D3 gas hoarding proved
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 Karnataka Cabinet on Monday decided to rechristen 'Mumbai-Karnataka' region consisting of seven districts as 'Kittur Karnataka.'
The Oil Ministry is seeking Cabinet nod to allow Reliance Industries to retain three gas discoveries worth $1.45 billion in the eastern offshore KG-D6 block even after expiry of timelines.
Sri Lanka's main Opposition party Samagi Jana Balawegaya (SJB) on Tuesday handed over to the parliamentary Speaker motions of no-confidence against the Sri Lanka Podujana Peramuna (SLPP) coalition government and embattled President Gotabaya Rajapaksa, even as the government announced the appointment of a cabinet sub-committee to look into the proposal for a new Constitution.
The government does not seem inclined, at least in the petroleum sector, to effect sudden and steep upward price revisions to tame its huge subsidy burden and rein in fiscal deficit.
The march had started from Dindori town, located around 195 km away from Mumbai, on March 12 demanding relief of Rs 600 per quintal to onion growers hit by price crash, 12-hour uninterrupted power supply to farmers, and waiver of farm loans.
Incoming US President Donald Trump has assembled a core team that is -- not surprisingly -- overwhelmingly white and male.
While the government had in June approved a new formula for pricing of all domestically produced natural gas, the Cabinet yesterday allowed the same principles to also be applied to Reliance Industries' currently producing fields in KG-D6 block subject to certain conditions.
India' can't succeed unless it is made easier for people to do business.
The meeting has been convened by Home Minister Rajnath Singh and invitations have been extended to all major political parties.
Rishi Sunak has revealed that his former boss, Boris Johnson, has not returned any of his messages and calls since he resigned from his cabinet as chancellor, implying tension between the duo as the British Indian former minister battles it out in a tough race to be elected the next leader of the UK's governing Conservative Party.
The ruling front and the opposition members are at loggerheads over the Adani issue and the disqualification of Congress leader Rahul Gandhi from the Lower House.
Reliance Industries has made drastic changes in gas supply contracts that will jack up its KG-D6 gas price by 10 per cent over and above the new rate of $8.3 coming into effect from next month.
Congress vice president Rahul Gandhi on Sunday hit back at Defence Minister Nirmala Sitharaman over the multi-crore Rafale deal, claiming it was "shameful" that her boss was "silencing" her.
The prime minister's office will play the principal role in decision-making.
Minister of State for Defence Subhash Bhamre said the cost of each Rafale aircraft is approximately Rs 670 crore.
The report said in the recent months policy makers as well as the private sector have made some efforts to improve productivity.
The proposed auction has business-friendly terms and conditions, including reduced upfront amount, adjustment of upfront amount against royalty and liberal efficiency parameters to encourage flexibility to operationalise the coal mines. Besides, 100 per cent FDI through automatic route has been allowed.
The pricing and marketing freedom for exploitation would be capped by a ceiling price.
Telecom Regulatory Authority of India has recommended up 62 per cent reduction in base price of premium 2G spectrum and up to 37 per cent in case of radiowaves freed from the cancellation of 122 licences, compared to the amount fixed for previous auction.
It is baffling how the PM chose the LCH as an indigenous product to celebrate on Rashtriya Raksha Samarpan Parv, even while his Cabinet holds up manufacturing clearance for 15 LCHs on the grounds that they are not Indian enough.
The total investor wealth in domestic stock markets soared by Rs 1.53 lakh crore as investors cheered energy reforms, including hike in natural gas prices.
Profit on sale of diesel swelled to Rs 1.90 per litre as oil ministry awaits return of Prime Minister Narendra Modi to cut rates.
Ministry returns guarantee saying new price has not been notified and RIL would have to submit surety as and when it is announced.
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
The Congress has been attacking the Bharatiya Janata Party government on the defence deal, accusing Prime Minister Narendra Modi of causing loss to the state exchequer by buying the fighter jets at inflated rate.
The over 130-day-long protest by fisherfolk against the under-construction Vizhinjam sea port was on Tuesday called off for now.
The delivery of the Tejas Light Combat Aircraft (LCA) to the Indian Air Force under a Rs 48,000-crore deal will begin from March 2024 and around 16 aircraft will be rolled out annually till the completion of the total supply of 83 jets, Chairman and Managing Director of Hindustan Aeronautics Limited R Madhavan said on Sunday.
With the government reducing the net worth for new entities in fuel-marketing space to Rs 250 crore, the market is open for new players like Total, Adani, and Saudi Aramco -- and even supermarkets - to open fuel outlets.
The agriculture minister said the government's constant efforts are aimed at making farmers prosperous by increasing their income.
The no-confidence motion moved by the opposition Bharatiya Janata Party against the Congress government in Chhattisgarh where assembly polls are due next year, was defeated by voice vote in the state Legislative Assembly on Thursday.
At the end of September quarter, Tail Winds held 68,15,843 shares, equivalent to 7.89 per cent holding, of Jet Airways.
Did the fear of central agencies probing scams involving NCP leaders that forced these politicians to jump ship?
The Congress needs to reorganise itself at the grassroots, infuse younger blood, and have more boots on the ground. Just offering freebies is not the answer anymore. Leadership matters, asserts Ramesh Menon.
India on Monday signed a nearly USD 3 billion (around Rs 198 crore) deal for purchase of 22 Apache attack helicopters and 15 Chinook heavy-lift choppers with American aviation giant Boeing and the US government.
