Dharmendra Pradhan, Mukhtar Abbas Naqvi, Nirmala Sitharaman and Piyush Goyal have been elevated to Cabinet ministers.
A panel headed by Economic Affairs secretary Arvind Mayaram had suggested FDI limit be raised to 49 per cent in almost all sectors through the automatic route.
India is building its oil reserves in underground rock caverns and tanks
Kaushik Basu, chief economic advisor in the finance ministry, said, "All I can say is, we are very serious about fiscal consolidation, and intend holding on to our fiscal targets, even if the crude price rises on a sustained basis."
The petroleum and natural gas ministry has asked the Planning Commission to constitute a committee to suggest a mechanism to average out prices of imported and domestic gas--a move expected to make gas prices uniform for consumers.
Petroleum ministry has suggested extending government subsidy on domestic LPG and kerosene for an indefinite period as the gap between domestic retail price and current international prices was too large to be bridged through a price hike.
This will help expand the distribution channels, said Subhash Chandra Khuntia, chairman of the insurance regulatory and development authority of India.
Chidambaram had expressed unhappiness over the manner in which the two major contributors to the subsidy bill, petroleum and fertilisers, were handled prior to his appointment.
The Communist Party of India-Marxist on Thursday claimed S Jaipal Reddy has paid the price for "defying the country's biggest corporate" by being shifted out of the petroleum ministry and said this exposed "the tentacles of big business in the appointment of ministers".
The Ministry Of Petroleum and Natural Gas has ruled out a hike in the prices of petrol and diesel in the near future even as the price of the Indian basket of crude oil continues to remain above $65 a barrel.
The Standing Committee on Petroleum and Natural Gas in its report tabled in Parliament today asked the ministry to strictly monitor implementation of directions issued to RIL for reversing the trend of falling gas output from the Bay of Bengal field.
Companies use journalists as conduits.
The Lucknow-Delhi Green Corridor will traverse Bareilly, Moradabad, Rampur and Ghaziabad. GAIL India Limited will be the implementing agency of the project.
The oil companies will meet on Friday for the review meeting on pricing in which petrol price could be increased by Re 1 and diesel prices by 50 paise by this weekend.
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.
Ministry wants to abolish 2.5 per cent customer duty on petrol and diesel.
In the wake of opposition from the law ministry and the Department of Public Enterprises, the petroleum ministry
Petroleum ministry has rejected Reliance Industries Limited's plan to sell natural gas to Anil Ambani Group firm Reliance Natural Resources Ltd at less than half the market price.
The pipeline deal could be signed by this yearend.
To believe that the key job of his senior ministers is to ensure that his image be kept intact whatever be the outcome of his policies is to expect too much even of someone as ambitious as Narendra Modi, asserts Rashme Sehgal.
Sources said both Mukherjee and Deora were in favour of Rs 2-3 a litre hike in petrol and diesel prices and Rs 25 per cylinder increase in LPG rates.
Oil and Natural Gas Corp, India's highest profit making firm, has suggested a new corporate structure
Virtually securing the consent of Left parties, the government is likely to decide next week on a price hike of Rs 4 per litre for petrol and Rs 3 a litre for diesel while sparing cooking gas and kerosene.
The Union home ministry has issued strict guidelines for the enforcement of the 21-day complete nationwide lockdown in the wake of the covid-19 pandemic, invoking the National Disaster Management Act which may result in imprisonment of up to two years for any violation. All government offices, the offices of state and Union territory governments, autonomous institutions, public corporations, commercial, private, industrial establishments shall remain closed, the guidelines issued by the ministry said.
The Ministry recently issued an order saying 'no authorisation from Petroleum and Natural Gas Regulatory Board is required for setting up of a CNG station.' PNGRB has been since 2009 issuing licences to entities for city gas distribution networks, essentially for retailing compressed natural gas to automobiles and piped cooking gas (piped natural gas or PNG) to households.
Petroleum secretary RS Pandey said the ministry explained the revenue losses that state run companies were incurring on sale of petrol, diesel, domestic LPG and kerosene.
The tankers carrying fuel from terminals to dealer outlets would not just have global positioning system (GPS) tracking but also an electronic key (e-key).
Supplementary provisions exceeded the original provision by as much as 239,900 per cent in 2014-15.
Investor sentiment remained upbeat on narrowing trade deficit and sustained foreign fund inflows.
Govt plans to stop RIL from selling crude to Jamnagar refinery.
Sports Minister Jitendra Singh responded to his senior colleague in the government Veerappa Moily's letter to him in connection with Jwala Gutta's ongoing impasse with the BAI, saying that he will examine her case and see how he can extend support to her.
Petroleum Minister Murli Deora will meet Finance Minister P Chidambaram on Monday to work out a package on pricing of petrol and diesel, besides subsidies on kerosene and cooking gas before the month-end.
Petroleum Minister Ram Naik said on Wednesday that he would forward to the Cabinet Committee on Divestment the proposals from public sector units under his ministry to bid for Hindustan Petroleum Corporation Ltd after examining individual proposals.
A bench of Justice R Y Ganoo and Justice N M Jamdar ordered service of notices to the respondents, who apart from the central ministries also include the oil marketing companies, namely the Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation Ltd.
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