Government considering proposal to allow conversion of used cooking oil into biodiesel, say Shine Jacob and Shreya Jai.
The battered rupee gained 225 paise to 66.55 against the dollar today, the most in at least 15 years, after the Reserve Bank of India eased pressure in the currency market by starting a facility for state-run oil refiners to buy foreign exchange.
'An internationally established price of crude will encourage more players to invest in India, leading to enhanced domestic production which can be made available to domestic refineries,' recommends Anil Agarwal whose company Vedanta Resources has a controlling stake in Cairn India that operates the country's biggest onland oilfield in Barmer, Rajasthan.
India's factory output climbed 22.4 per cent in March, benefiting from the base effect of the lockdown-marred month a year back as well as a turnaround in the manufacturing sector, while retail inflation slipped to a three-month low of 4.29 per cent in April. The high positive annual growth in the index of industrial production (IIP) in March 2021 came on back of a contraction of (-)0.9 per cent and (-)3.4 per cent in January and February 2021 respectively, according to the data released by the National Statistical Office (NSO) on Wednesday. This turnaround was led by recovery in the mining, manufacturing and electricity sectors.
Optimism about a stable govt at the Centre, a demand revival and falling oil prices buoyed the markets.
The 80-odd projects completed till now are already valued at Rs 14,000 crore.
One of the major advantages of buying Iran crude is the additional credit period of 90 days that the country gives to India, compared to 30 days by other countries.
Re-instatement of 5% custom duty on crude imports will help.
The import tariff value -- base price at which customs duty is determined to prevent under-invoicing -- is revised on a fortnightly basis.
In the 38-page report, across 10 chapters, RIL explained how it entered the exploration and production business; the history of the New Exploration and Licensing Policy and the introduction of production-sharing contracts.
With the objective of making India a manufacturing hub for domestic and foreign companies, Prime Minister Narendra Modi on Thursday launched the 'Make in India' initiative.
At present, in Myanmar, GAIL and IndianOil have a minority stake in a gas pipeline which goes to China, through South East Asia Gas Pipeline Company.
The government on Monday slashed import tariff value on gold and silver to $408 per 10 grams and $617 per kg respectively, in view of weakness in bullion prices globally.
In Singapore, gold prices have risen by 0.46 per cent to $ 1,294.20 from $ 1,288 per ounce in last one fortnight.
India is the second largest buyer of Iranian crude, after China.
During his visit, first by an Indian prime minister in 34 years, Modi will seek to enhance cooperation in energy and trade and reach out to investors to hardsell India as an attractive business destination.
Weakness in the greenback overseas against the backdrop of sluggish US macro data outcome helped the home currency move higher
Amidst a storm over proposal to shut petrol pumps during night to taper fuel demand, Oil Minister M Veerappa Moily on Monday said the government had not made any such proposal and the idea had come from public.
'We began foolishly bragging about Saudi-Emirati investment plans as indicative of the sheikhs 'distancing' from Pakistan, including on Kashmir,' notes Ambassador M K Bhadrakumar.
There is much work to be done to design a good GST.
'No matter how severe sanctions the UN security council imposes on North Korea, the impact of the sanctions would depend on how faithfully they are enforced by China,' says Dr Rajaram Panda.
'Nationalism built on divisiveness cannot strengthen the country, or help the economy improve its performance,' points out T N Ninan.
The non-oil, non-finance sector of the economy is under severe stress.
'All but one of the previous oil shocks brought either a change of government or a political crisis.' 'Is the government braced for stormy weather?' asks T N Ninan.
'Gau rakshaks portray themselves to be bigger than the chief minister and Prime Minister Modi.' 'We have lost business of Rs 4,000 crore in UP alone since the BJP manifesto was released.'
I look forward to many years of success and friendship, working together to solve not only our problems, but world problems and problems of great danger and security, says President Trump in Beijing.
The real benefits can be seen when prices stabilise, preferably at levels acceptable to both consumers and producers.
The prime minister said India will continue to support Nepal according to that country's priorities, adding both sides have agreed to expedite all connectivity projects.
'Only when China treats India as an equal can we consider them real friends.'
India and Iraq are likely to sign two agreements in the energy sector and cooperation in water resource management.
Keeps open the option to make payments in yen or yuan in the face of sanctions
Russian President Vladimir Putin arrived in New Delhi late on Friday night for annual summit talks with Prime Minister Narendra Modi on Thursday that is aimed at building on the already close strategic ties, particularly in the fields of nuclear energy, hydrocarbons and defence.
'By holding forth on Swadeshi economics, Bhagwat is showing his intent to fight back,' says Shekhar Gupta.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
'We are at $2.7 trillion and 2024 is not far away.' 'The country will need to grow by 9% every year for 5 years continuously and raise the aggregate investment rate to 38% of GDP to achieve the government's target of turning India into a $5 trillion economy.' 'Given the fact that we are only growing at about 5% and our investment rates are only about 30%, it may take a number of years before we can reach that targeted level.'
Stalling the introduction of better emission standards is based on specious logic, especially in a country that has 13 of the world's most polluted cities.
Here's everything you need to know about the Goods and Services Tax Bill.
'What has taken the government so long to understand what the people of this country are going through?'
India has already pipped Japan as the world's third-largest oil consumer.
Lowering excise duty on petrol, diesel, and other fuels, branded fuels.
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