'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.'
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
Experts believe scrapping some projects is likely to bring some stability in road sector.
Cabinet may tweak Rangarajan formula; new price may be further delayed.
He added every dollar rise in the gas price will result in Rs 4,000 crore of revenue and Rs 2,300 crore in profit after tax.
It is time for the three finance ministers of the 1990s to reveal the real hero, says T C A Srinavasa-Raghavan.
The Oil Ministry has proposed raising natural gas prices by at least 60 per cent, a move that will result in rise in urea as well as power costs.
Govt notification on $8.4 a unit price likely by month-end
Reliance Industries Ltd (RIL) on Wednesday asserted in the Supreme Court that it did not receive any favour from the government in the contract for exploration of oil and gas from Krishna-Godavari basin.
Reliance Industries has made drastic changes in gas supply contracts that will jack up its KG-D6 gas price by 10 per cent over and above the new rate of $8.3 coming into effect from next month.
Could get $8.4 per mmBtu from April 2014 by furnishing bank guarantee that would be encashed if D1, D3 gas hoarding proved
The board will now be headed by Vinod Kumar Yadav as chairman and CEO, and it will have four other members.
The Supreme Court on Friday granted six weeks time to Mukesh Ambani's Reliance Industries Ltd (RIL) to respond to the final CAG report which found alleged irregularities including in payments made to the contractors on drilling of D6 wells at the Krishna-Godavari basin.
The move is likely to force the government to take a faster decision.
EC on Monday asked the government to defer notifying doubling of price of the fuel produced by companies such as Reliance Industries till general elections are completed.
If approved, gas price will rise to $6.775 per million British thermal unit from $4.2 currently.
'If the government starts playing favourites, if the government acts in a manner which is not transparent, then natural resources which belong to not just you and me, but future generations, they fritter away. The anger against corruption, the anger against India's natural resources being looted is a consequence of the fact that within society there is a huge amount of turmoil and discontentment. Why should an Empowered Group Of Ministers or the Cabinet Committee on Economic Affairs decide the administered price of gas?' asks Paranjoy Guha Thakurta in this exclusive interview with Rediff.com's Sheela Bhatt.
PM Modi on Sunday called upon states to "speed up capital expenditure and infrastructure creation" to spur economic growth.
Last week, RIL and urea companies failed to settle the key terms of gas supply from April 1 upon expiry of the five-year contracts that priced gas from the eastern offshore KG-D6 fields at $4.205 per million British thermal units.
Congress Vice President Rahul Gandhi on Sunday hit back at Odisha Chief Minister Naveen Patnaik for calling the national party "corrupt", saying the ruling Biju Janata Dal is responsible for a series of scams in the state.
Since we are at the start of the month and the quarter, we shall look at the broader picture for the markets.
ADB's calculations imply almost half of India's population (47.7 per cent) was below the line in 2010. Both these estimates are based on the year 2005's purchasing power parity rates.
The high-level expert group led by former Reserve Bank of India governor C Rangarajan to formulate a jobs plan for Jammu and Kashmir is likely to meet on Friday in New Delhi. The committee was formed by Prime Minister Manmohan Singh as part of the Centre's efforts to end the ongoing cycle of violence there. The committee will initially hold a few meetings with senior officials from various ministries including home, agriculture, external affairs.
As domestic demand for gas will rapidly increase, new gas sources need to be explored.
Many stalled projects are about to get going again, providing potential relief to banks, says T N Ninan.
With inflation still ruling above the 9 per cent mark, Prime Minister's Economic Advisory Committee (PMEAC) on Wednesday suggested that the Reserve Bank should continue to focus on controlling the rising prices.
A four-member panel of secretaries is likely to submit its report on a new gas pricing mechanism to the government by Wednesday.
The commission asks for notification to be deferred; RIL's KG-D6 pricing issue may return to Cabinet
A first step in that direction has been taken by the prime minister by setting up an expert panel headed by his economic advisory council.
The government will implement recommendations of the committee chaired by Dr C Rangarajan, chairman of the Economic Advisory Council, to the prime minister, when it submits the final report.
C Rangarajan, chairman, 12th Finance Commission, will head the committee, J&K Finance Minister Muzaffar Hussain Baig said in Srinagar.
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.
Amidst Finance Ministry raising prospects of forcing Reliance Industries to sell gas at old price of $4.2, Oil Minister M Veerapa Moily on Thursday said there was no rethinking in the government on the decision to double gas rates from April 1, 2014.
The room for political manoeuvre to raise petroleum prices is the highest at this point in time, says Business Standard.
'If there is an RBI majority in the committee, there is no question of a veto.'
The committee on financial inclusion, headed by C Rangarajan, the chairman of Prime Minister's Economic Advisory Council, has recommended that the profits transferred to their reserves by such banks should be exempted from tax till the banks achieve the standard capital adequacy ratio (CAR).
The Cabinet Committee of Economic Affairs has approved a hike in gas prices from April 2014.
Committee of secretaries is working on the formula and it is understood that EAC is also being asked to go through the formula.
The govt. has set up a panel to review the investments and savings in the Indian economy. The panel will review financial savings and suggest improvements.
Petroleum ministry rejects conclusions of two reports ahead of EGoM.
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