Amit Shah wants to increase the party's nationwide vote share by at least 10 per cent from the 37.7 per cent it secured five years ago and ensure above 50 per cent vote share in the states where it came close to that benchmark, but couldn't cross it.
Public sector oil companies are likely to incur a loss of Rs 50,000 crore (Rs 500 billion) in the current fiscal on selling fuel below cost, Indian Oil Corporation chairman Sarthak Behuria said on Tuesday.
A proposal in the Union Budget 2022-23 to raise excise duty on dirtier, unblended retail petrol and diesel has met with some resistance from the petroleum ministry. However, finance ministry officials say no such communication arguing against the levy of extra duty on diesel has been received from the oil ministry. Until there are discussions between the two departments, the proposal will not be tweaked in the Finance Bill. The Rs 2 per litre additional excise duty proposed on unblended fuels in the Finance Bill will result in a uniform hike of diesel prices across the country from October 1.
Currently, oil companies sell kerosene at a loss of about Rs 18 per litre.
'This is the victory of the people of Gujarat who want real development, not the hype of development.'
The Rajya Sabha proceeding washed out completely on Wednesday and was adjourned for the day amid continued protest by the Opposition parties led by the Congress over price rise and levy of Goods and Services Tax (GST) on daily essentials.
Amid a war between Russia and Ukraine, Prime Minister Narendra Modi on Thursday said India's several needs are connected to the involved countries but it is on the side of peace and hopes that all problems get resolved through dialogue.
Total fuel subsidies accounted for less than 1 per cent of GDP and under 3 per cent of total government expenditures in FY14.
Govt targets 1 cr consumers to give up LPG subsidy.
Priyanka Gandhi urged people to stand with the farmers' struggle and to take the movement to the villages.
Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation are losing Rs 486 crore (Rs 4.86 billion) per day as they are made to sell diesel, domestic LPG and kerosene way below cost to keep inflation under check.
All households are entitled to get 12 cylinders of LPG or liquefied petroleum gas.
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.
Price of non-subsidised cooking gas (LPG) was today cut by Rs 43.50 per cylinder as international oil rates slumped to their lowest since May 2009.
The ministry is preparing a draft note for consideration of the CCPA on pricing of diesel, kerosene and LPG, official sources said.
Sri Lanka is going through the worst economic crisis since independence in 1948. A crippling shortage of foreign reserves has led to long queues for fuel, cooking gas and other essentials while power cuts and soaring food prices heaped misery on the people.
Government gives 3 months, starting June, for the 20 districts to be covered under its direct benefits transfer scheme.
Meanwhile, his successor, President Ranil Wickremesinghe tweeted: "Congratulations to the Sri Lankan cricket team on winning the Asia Cup 2022. Well played Pakistan! The second championship for today," he said, adding that it "goes to show that, with dedication and determination we can overcome challenges as a nation. Onwards and upwards Sri Lanka!"
Samajwadi Party (SP) chief Akhilesh Yadav on Thursday said people of the country want change of power, but evaded a direct reply on whether his party would join an opposition alliance to take on the Bharatiya Janata Party (BJP).
Heightened geopolitical uncertainties will lead the Reserve Bank's rate-setting panel to opt for a status quo at the next week's meeting, Axis Bank's chief economist Saugata Bhattacharya said on Monday. Bhattacharya said he had earlier expected a tightening action at the policy meet scheduled for April 6-8 but the increased uncertainties on the geopolitical front due to the Russian invasion of Ukraine and its impact on commodity prices makes him now think that RBI will defer such an action. He said the central bank's Monetary Policy Committee (MPC) may hike rates in the second half of FY23 by up to 0.50 per cent.
Modi said the country needs to increase domestic output of energy.
Indian Oil Corporation on Tuesday said its fourth-quarter profit fell 16 per cent to Rs 1,849.94 crore (Rs 18.49 billion) after the government barred the company from raising prices of cooking gas and auto fuels.
The party also promised to end the mafia raj by creating corporations for the sale of liquor and sand mining.
Prime Minister Narendra Modi and Rajasthan Chief Minister Ashok Gehlot on Thursday exchanged jibes over the red diary that a sacked state minister claims records financial misdeeds of the CM and his colleagues.
Come December 8, and the Congress will again do well in Saurashtra region, he says.
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
Despite mounting pressure, Gotabaya, and Prime Minister Mahinda have refused to quit office.
A pregnant Sri Lankan woman, who had been in a queue for two days to obtain a passport to leave the crisis-hit country for employment overseas, went into labour while waiting for her turn on Thursday and delivered a baby girl.
IOC and other oil firms have been paying LPG consumers in 54 districts up to Rs 500 to help them buy a 14.2-kg cooking gas refill at market price, which is more than double of Rs 410 per bottle rate in Delhi.
The people of Amethi want to rectify their 'mistake' of 2019 and Congress workers as well as leaders are demanding that Rahul Gandhi contest from the constituency in the 2024 Lok Sabha polls, the party's Uttar Pradesh chief Ajay Rai said.
Only 68 MPs voted in favour of the motion, it said, giving the 72-year-old President a comfortable victory.
Oil Ministry felt it did not have a clear mandate to reduce rates post the January 2013 decision of the Cabinet to raise prices by 40-50 paisa a litre every month.
Onions had the highest inflation rate among all major commodities.
Union minister and BJP leader Smriti Irani said it was "absolutely shocking" to see the former Haryana chief minister sitting calmly on a tractor while having woman members of his party pulling it physically.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
Pre-Budget excercise next month should scrupulously avoid adventurism of all types and refrain from making excessively ambitious projections on revenue and expenditure numbers for 2023-24, suggests A K Bhattacharya.
Sri Lanka on Tuesday deployed military personnel at State-run petrol pumps to monitor and manage fuel distribution amidst a shortage that led to serpentine queues of consumers outside filling stations.
The Cabinet Committee on Economic Affairs may raise the subsidised LPG cylinder quota from 9 to 12 at the next meeting, Petroleum Minister M Veerappa Moily said.
If oil prices stay at their new level of $72 or drop further, India will be in the happy position next year of enjoying a surplus on the trade account.
