In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
Nitin Gadkari is the rising star, Arun Jaitley commands respect while minister of state Dharmendra Pradhan seems to be the PM's new favourite.
He also asserted that ease of living and ease of doing business were behind the spirit of the work being done under the Central Vista project.
'I have no problems with the finance ministry or with state governments treating petrol pump prices as the last resort for meeting their ambitious spending targets with very limited revenue resources.' 'But let's do away with this smokescreen of free pricing of petrol and diesel and go back to administered pricing regime,' says Dr Sudhir Bisht.
"To begin with, people could face some difficulties because any changeover has its own problems. But it will settle down and the country will benefit from the new indirect tax regime," Jaitley said at an event organised by ABP News.
Indian companies place orders worth $600 million for US crude, which is likely to increase by nearly $2 billion in the near future.
The Group of Ministers on Telangana met for the first time on Friday with an assurance that the concerns of Andhra Pradesh would be addressed with "fairness and objectivity".
The appointment of new expenditure secretary comes a month-and-a-half ahead of the Budget for 2020-21 to be presented on February 1.
A plea of the UK-based Vedanta group company to export its share of crude oil from Barmer oil field in Rajasthan was on Tuesday rejected by the Delhi high court on the ground that domestic crude cannot be exported till India attained "self sufficiency".
Indian equity markets registered their highest single-day percentage gains since early October.
The finance minister admitted that there was no quick-fixes to economic problems and the government is working to stabilise the economy which may take time.
Government's reforms are too half-hearted. But Rahul Gandhi's Congress is too amateurish and inept to hold it to account.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Former Prime Minister Manmohan Singh, who is hailed as the architect of economic reforms in the country, is a member of the Parliamentary Standing Committee on Finance, it was announced on Tuesday.
'The days when less government, more governance were spoken of are well and truly behind us.' 'More government, it is now believed, means more governance,' says Saisuresh Sivaswamy.
Rising oil prices and diminishing cash pile to limit capacity in 2018-19
How Delhi Lieutenant Governor Najeeb Jung handles the fight with Chief Minister Arvind Kejriwal over the issue of appointment of a chief secretary will be an interesting insight into his personality, says Aditi Phadnis
Biennial elections are being held for 58 Rajya Sabha seats across several states and by-poll for one in Kerala.
Reforms under the Modi government will maintain a slow and tentative pace, constantly wary of political opposition. It may not be reform by stealth, but it is reform on the quiet, says A K Bhattacharya.
Petroleum and Natural Gas Minister Dharmendra Pradhan speaks to Sheela Bhatt/Rediff.com.
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
The Group of Ministers on Telangana is set to discuss the draft bill for the creation of Telangana on Saturday.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The staggered increase in kerosene rate may not have the same impact of freeing up the fuel price as for diesel.
'The actual price of petrol is Rs 35 and it jumps to Rs 88 because of government taxes.'
Not only the BJP but key bureaucrats are also known to have hinted to the top leadership of the need to expand the Cabinet.
Budget forces last minute change in finance minister's plans.
Escalating its attack against Mani Shankar Aiyar, the BJP called his remarks "treasonous" and demanded an apology from Congress chief Sonia Gandhi.
Full list of the rejigged Union Council of Ministers
Not only do you need an effective and independent regulator, you also need competition to flourish.
'Yeh dil maange more' seems to be mantra for over two dozen former chief ministers of various states who are contesting upcoming Lok Sabha elections on different party tickets.
A lot has been written about the impact of the recommendations.
On a day Narendra Modi attacked the United Progressive Alliance government for its "mis-governance", Congress chief Sonia Gandhi hit back accusing the Bharatiya Janata Party of hatching conspiracies before elections and misleading people in its hunger for power.
The Centre is against giving any shock in the first year of the rollout by bringing in new services.
Execs of RIL, Essar, Cairn India, Jubilant Energy, ADAG detained.
Finance Minister Arun Jaitley has said the larger interest of the public sector would be fully protected.
Ambitious diplomats continue to be attracted to politics but do they make good politicians, asks Jyoti Malhotra
The bill now heads to the White House for President Donald Trump's approval.
Colombo seems to be veering to the middle path between China and the US on global matters, but in regional matters of strategic security, it is increasingly identifying with India, points out N Sathiya Moorthy.
Prime Minister Narendra Modi will retain DoPT, Atomic Energy as well as all important policy issues and portfolios not allocated.
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