Ministry to propose a new subsidy mechanism to cap upstream firms' share.
Experts say finding a solution within the high court-mandated timeline of six months may be tough.
CAG had in its previous reports slammed Oil Ministry and its technical arm DGH for not exercising enough control and vigil over KG-D6 block.
He served as Union minister of information and broadcasting in the IK Gujral government and was allotted different portfolios in the Manmohan Singh government.
If cleared, the ONGC arm will become the first subsidiary company of an existing Maharatna to get into this superior league among government-owned entities.
In a presentation to investors in Mumbai last week, Aramane Giridhar, Joint Secretary (Exploration) gave detailed reasons for pendency of decisions in the Ministry of Petroleum and Natural Gas where officials approved of decisions but refused to issue formal orders, resulting in delays in production of oil and gas.
The storm is likely to impact Mumbai, Thane and other coastal districts of Maharashtra like Raigad and Palghar along with Valsad, Navsari, Surat, Bhavnagar and Bharuch districts of Gujarat and Union Territory of Dadra and Nagar Haveli and Daman and Diu. Preparations for the impending cyclone were discussed at a meeting of the National Crisis Management Committee (NCMC), headed by Cabinet Secretary Rajiv Gauba, a home ministry statement said.
RIL has denied knowingly producing any gas from the ONGC block
Following up on Finance Minister Arun Jaitley's Budget announcement of creating an integrated oil company, India's biggest oil and gas producer ONGC may buy all of the government's 51.11 per cent stake in Hindustan Petroleum Corporation Ltd.
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
India annually spends Rs 4.5 lakh crore on importing petroleum products, and Transport Minister Nitin Gadkari feels methane is a cost-effective import substitution. But is it? Pallava Bagla examines the pros and cons.
As CAG found Reliance Industries was being favoured in gas exploration deal to the government's detriment, former Prime Minister Manmohan Singh told the then top auditor Vinod Rai that audit should not hurt the private sector and RIL was one of the biggest and most respected.
Union Ministers Smriti Irani and D V Sadananda Gowda have been dropped from Inter-State Council, official sources said on Wednesday.
ONGC's chairman and managing director Sudhir Vasudeva tells Business Standard that any price for natural gas that is more than $4.2 a unit is good for the company.
Former Prime Minister Manmohan Singh, who is hailed as the architect of economic reforms in the country, is a member of the Parliamentary Standing Committee on Finance, it was announced on Tuesday.
The BJP accused the Congress leader of playing politics in the matter.
The 77-year-old was recently diagnosed with pneumonia and was admitted to the hospital, where he died at 1.28 am, a Congress leader said.
Quattrocchi lived in India for several years as the representative of an Italian firm, Snam Progetti, in the 1980s. He was close to the Gandhi family and in 1999 was named one of the accused in the case regarding the Rs 64-crore pay-off for the supply of 155 mm Howitzer guns made by Bofors, for which a controversial deal was signed in 1986 when Rajiv Gandhi was the prime minister.
A plea of the UK-based Vedanta group company to export its share of crude oil from Barmer oil field in Rajasthan was on Tuesday rejected by the Delhi high court on the ground that domestic crude cannot be exported till India attained "self sufficiency".
The Council also discussed process to make return filing simpler with just one return to be filed every month.
The appointment of new expenditure secretary comes a month-and-a-half ahead of the Budget for 2020-21 to be presented on February 1.
FIXES BY THE GOVERNMENT: Energy price fixed, tax issues linger.
Assembly elections coming up in November and December could offer a window of opportunity to the government to make GST attractive through rate cuts.
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
The govt auditor also indicts DGH and management committee of D1 and D3 fields
The finance minister admitted that there was no quick-fixes to economic problems and the government is working to stabilise the economy which may take time.
The president-elect has vast public, social, and political experience which will help him better to discharge his duty as the First Citizen of India.
The National Democratic Alliance government is weeding out independent directors on the boards of public-sector undertakings (PSUs).
Given that India will get a huge part of its oil supplies from Iran through its government-owned oil PSUs, any unwelcome shocks in global crude rates could be absorbed well enough.
'The days when less government, more governance were spoken of are well and truly behind us.' 'More government, it is now believed, means more governance,' says Saisuresh Sivaswamy.
A brief report card on Modi's ministers.
The bill now heads to the White House for President Donald Trump's approval.
The Group of Ministers on Telangana is set to discuss the draft bill for the creation of Telangana on Saturday.
The Prime Minister's Office has clarified that the total sanctioned strength of the PMO has been around 525 in the period 2011-14. As against this, the actual strength of the PMO in the years 2011, 2012 and 2013 was in the range of 407 to 411. The number has now declined to 385.
Rediff.com gives you a look at newbies in the Council of Ministers
The maximum death toll has been reported from Idukki district, where 43 people have lost their lives so far, as per official estimates. 28 deaths were reported in Malappuram and 27 in Thrissur.
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Benchmark share indices ended lower on profit taking after they touched record highs in the previous session.
Prime Minister Narendra Modi will retain DoPT, Atomic Energy as well as all important policy issues and portfolios not allocated.
The GST will alter the very face of fiscal federalism in India.
In the third reshuffle since coming to power, Prime Minister Modi raised the strength of his Council of Ministers from 73 to 76.
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