The government will phase out subsidies on LPG and kerosene by 2007, petroleum secretary S C Tripathi said on Friday.
IndianOil Corp Ltd, for instance, saw a growth of around 22 per cent in volumes and nearly two per cent in its market share. It traded nearly 10,517 million tonnes (mt) of auto gas in December against 8,593 mt of auto gas in September.
The deficit stood over Rs 8 trillion in the first seven months of the current financial year. Non-tax revenues, comprising transfers from the RBI and dividends of the public sector units, shored up the Centre's revenues.
Maruti Udyog Ltd on Thursday launched an LPG variant of its commercial vehicle Omni Cargo, India's first clean fuel vehicle used for transport applications.
The Oil Ministry will raise the cap on supply of subsidised cooking gas (LPG) to 9 cylinders per household in a year provided the Finance Ministry agrees to give an additional Rs 3,000 crore in 2012-13.
Government has begun drawing contingency plans to avert any shortage of domestic cooking gas as a result of go-slow agitation by employees of the country's largest oil company Indian Oil Corp.
This is prime minister's second visit to Bhutan and the first since his re-election.
'Once elected, you have to act like people's representative for the full five years or else people show you your place.'
A decision on raising diesel prices by Rs 3-5 per litre, kerosene by Rs 2 and LPG by up to Rs 50 per cylinder will be taken after UPA Chairperson Sonia Gandhi returns from US, top government officials said.
This will pave the way for emergence of 24,000 new panchayat-level leaders in Telangana, he said.
Ahead of the crucial third round of discussions, the opposition INDIA bloc on Wednesday exuded confidence that it would provide a formidable alternative to bring political change in the country and asserted that it has several prime ministerial faces against BJP's only one.
Petroleum Minister Ram Naik Friday indicated that prices of domestic cooking gas may be hiked before the Budget to check growing subsidies but said consumer interest will be kept in mind while taking any such decision.
The smaller cylinders will be sold at market rates.
The blast occurred on Tuesday evening at Himachali Rasoi restaurant, known for serving Himachali cuisines, located in Middle Bazaar adjacent to the fire brigade office in the heart of the city.
In moving scenes at the spot, women were seen wailing, possibly over the loss of a dear one, while a child recalled the tense moments before fleeing to safety.
Petrol pumps in many cities witnessed long queues on Tuesday as people came to fill up their vehicle tanks fearing shortage of fuel amid the protest by truck drivers against a provision in the new penal law on hit-and-run accident cases involving motorists.
Petrol and diesel sales in India jumped in September as economic activity picked up with the nearing festival season and the ending of the monsoon raised the demand, preliminary industry data showed. Petrol sales soared 13.2 per cent to 2.65 million tonnes in September when compared to 2.34 million tonnes of consumption in the same month last year. Sales were 20.7 per cent higher than Covid-marred September 2020 and 23.3 per cent more than pre-pandemic September 2019.
Rumour-mongering has largely affected the process to calm down the situation and bring peace in troubled Manipur.
Finance Minister Pranab Mukherjee asked all chief ministers to reduce state levies on diesel, kerosene and cooking gas to mitigate the impact of the price hike on the common man.
Expectations are that the government will use the Union Budget to create an environment, which is conducive for growth.
The company, which is also looking to strengthen its position in the sports utility segment, today launched the automatic transmission four-wheel drive version of its popular sports utility vehicle Captiva, priced at Rs 20.3 lakhs (Rs 2.03 million). He said the company will be launching an LPG-driven car in the first half of this year, without specifying details, adding it would be followed by other LPG vehicles.
Rinku Singh has become a household name after his sensational power hitting in IPL to help Kolkata Knight Riders clinch victory from the jaws of defeat against Lucknow Super Giants on Sunday.
The government's three key allies Samajwadi Party, RJD and DMK along with Left parties and BJP on Friday demanded reduction of diesel and LPG prices in view of the decrease in the cost of international crude by nearly $100 over last few months.
Dominic Xavier offers his take on the third increase in the LPG rate since May and the fourth this year.
The Indian Oil Corporation has taken a hit of about Rs 1,000 crore (Rs 10 billion) in the first quarter of the current fiscal on selling subsidised LPG and Kerosene below the cost.
In order to end use of kerosene -- which often does not reach the intended beneficiaries -- the Delhi government on Tuesday launched an ambitious scheme, where about 3.5 lakh BPL and poor families will get free LPG cylinders and gas stoves.
Oil Minister Murli Deora on Wednesday said his ministry is not in favour of raising diesel and domestic LPG prices as response to spurt in global crude oil prices, as the move will add to already high inflation rate.
Domestic LPG prices may go up by Rs 22-25 per cylinder this week as oil companies push for a hike in retail selling price in view of Budget 2003-04 lowering subsidy provision for cooking gas and PDS kerosene.
Finance Minister Nirmala Sitharaman on Wednesday said the National Rural Livelihood Mission has achieved remarkable success by mobilising rural women into 1 lakh SHGs (self help groups).
The Delhi high court on Wednesday asked the Centre and the Delhi government to present their stand on a plea seeking recall of all currency notes above Rs 100, restricting cash transactions above Rs 10,000 and linking assets worth more than Rs 50,000 with Aadhaar to check corruption.
Petrol and diesel sales in the country fell in July over the previous month as the onset of monsoon chipped away demand in some sectors and restricted mobility, preliminary industry data showed. Diesel, the most widely used fuel in the country, saw consumption drop 13.1 per cent to 6.44 million tonnes from 7.39 million tonnes of demand in June. The arrival and intensity of monsoon weigh heavily on diesel demand in the country and consumption traditionally is lower in July-September than in April-June.
The government has set up a committee to work out sharing by producers and retailers the losses likely to accrue from the decision to freeze LPG and kerosene price for a year despite rising cost.\n\n\n\n
The Union government is likely to cut import duties on diesel, kerosene and cooking gas to cushion the impact of high international crude oil prices on the domestic market.
Petroleum Minister Ram Naik on Friday said oil companies will revise prices of domestic LPG only after Finance Minister Jaswant Singh replied to the Budget debate in Lok Sabha on Tuesday next.\n
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