From road transport to health insurance, tax rules have changed from October 1.
Trends in the global energy markets are crucial if India's growth outlook is to remain healthy. Prices for the Indian crude basket were averaging around $86.2 per barrel through Q1FY25 and then moderated to $84 in July and to $78-79 in August (so far). But global crude supply may outpace weak global demand in the short term.
Petroleum Minister Mani Shankar Aiyar will present options, including raising prices of LPG and kerosene for the rich, to bridge the vast gap between the cost of fuel and their current retail price
The saving in 2015-16 was about Rs 7,000 crore.
For the second time in as many months, the Government on Wednesday night cut petrol price by Rs 5 a litre and diesel by Rs 2 per litre, while the domestic LPG rate was also slashed by as much as Rs 25 per cylinder.
Congress president and United Progressive Alliance Chairperson Sonia Gandhi has directed all party-ruled states to subsidise three additional cylinders a year for domestic liquefied petroleum gas, raising the cap on subsidised cylinders from six to nine.
Now, non-subsidised liquefied petroleum gas price is hiked by Rs 26.5 per 14.2-kg cylinder.
The fall in global oil prices has trimmed the losses of state-owned oil companies, but it may not be enough to prevent a Rs 4 per litre increase in diesel prices and a Rs 20-25 per cylinder hike in LPG rates later this month.
The government will provide private companies subsidy equivalent to that given to state retailing firms on LPG, petroleum secretary B K Chaturvedi said.
India's fuel sales fell in the first half of April as a record rise in prices in a short 16-day period dented demand, preliminary industry data showed on Saturday. Petrol sales fell almost 10 per cent in the first half of April when compared with the same period in the preceding month, while diesel demand slid 15.6 per cent. Even cooking gas LPG, which had consistently shown growth even during the pandemic period, saw a 1.7 per cent month-on-month fall in consumption during April 1-15.
The IMD has issued Yellow alert for Thiruvananthapuram, Kollam, Pathanamthitta, Alappuzha, Kottayam, Ernakulam, Idukki, Thrissur, Malappuram and Kozhikode districts for today whereas Wayanad too has Yellow alert on May 22.
Some 500,000 drivers and helpers have been left high and dry because of lockdown; many of these trucks are carrying essential goods.
Cooking gas distributors are threatening to go on strike on October 1, opposing the restriction on sale of subsidised cylinders.
Congress, Samajwadi Party, Trinamool Congress, Bahujan Samaj Party and Left MPs stormed into the Well of the House, saying the people were being cheated.
The party also promised reservation to minorities on basis of their population after the caste census.
A week after the steep hike in petrol prices by Rs 5 a litre, the government on Monday said a ministerial panel is likely to meet in the next few days to take a decision on raising diesel, LPG and kerosene rates.
The government said on Tuesday that oil marketing companies are considering price revision of domestic LPG due to increase in international prices.\n\n\n\n
Gandhi was unusually more proactive and practically led the Opposition protest against the rise in the prices of petrol, diesel and LPG cylinders during the Question Hour.
Experts say having an open fire in the kitchen is like burning 400 cigarettes an hour.
Cooking gas (LPG) dealers on Monday threatened to go on an indefinite strike from January 19 unless oil companies stop appointing new distributors.
Ujjwala Yojana was launched on May 1, 2016 at Ballia district in Uttar Pradesh and has so far covered 47.3 million consumers in 715 districts
Financial assistance of Rs 25,000 to one lakh persons going on pilgrimage to major Hindu temples, increase in maternity leave period and assistance, cut in fuel prices and steps to ban National Eligibility cum Entrance Test (NEET) were the various promises made by the Dravidian party.
In the manifesto released on Saturday, the Congress also promised unemployment allowance of Rs 3,000 per month, Rs 2,000 pension to divyangs, widows, senior citizens and needy women, and waiver of loans of up to Rs 3 lakh of all fishermen, among other things.
While LPG price was raised by Rs 18, kerosene saw a hike of Rs 3 per litre
A swift recovery in oil demand in India is not only helping the stability of the global market, it is giving huge fiscal headroom to the government in terms of additional excise duty.
LPG prices will go up by Rs five per cylinder every month with the government on Tuesday saying there is no roll-back in the decision.
Under-realisation on selling domestic LPG and kerosene through public distribution system is likely to be around Rs 50,000 crore (Rs 500 billion) during the current fiscal, Petroleum Minister Murli Deora said on Monday.
It could become a giant leap towards lasting reform if the experiment in direct benefit transfers for cooking gas subsidies pans out.
Demanding a roll back of the hike in cooking gas price, that was increased by Rs 20 per cylinder yesterday, CPI (M) said the Centre's decision not to touch import duties on petroleum products will lead to an "anomalous" situation.
It also promised financial assistance of Rs 24,000 annually to all dependent widows and single mothers, two free LPG cylinders to all the beneficiaries of the PM Ujjwala Yojana and 24x7 power supply.
Cooking gas price was on Saturday hiked by Rs 11.42 per cylinder following government decision to raise commission paid to the dealers.
The Bharatiya Janata Party on Saturday released its manifesto for the November 17 Madhya Pradesh elections promising MSP for wheat at Rs 2,700 per quintal and paddy at Rs 3,100 and houses for beneficiaries of the state's flagship scheme 'Ladli Bahna'.
Petrol and diesel prices were cut by Rs 2 per litre each as state-owned oil companies ended a nearly two-year-long hiatus in rate revision, just hours before the general election schedule was announced.
A low intensity bomb blast at a popular eatery in Bengaluru on Friday left 10 people injured, leading the police to invoke the stringent UAPA provisions in the case. Subsequently, the police were looking into all angles related to the incident.
Underrecovery from sensitive petroleum products seen at Rs 1,55,000 cr in current fiscal.
Dominic Xavier offers his take on the third increase in the LPG rate since May and the fourth this year.
In a unique protest against fuel price hike, West Bengal Chief Minister Mamata Banerjee on Thursday rode pillion on an electric scooter to state secretariat Nabanna.
The government on Friday decontrolled petroleum prices to bring fuel costs in line with global oil rates after an Empowered Group of Ministers, headed by Finance Minister Pranab Mukherjee, met for the second time in less than three weeks to decide on raising fuel prices. Railway Minister Mamata Banerjee was absent again.
'Once elected, you have to act like people's representative for the full five years or else people show you your place.'
