How do you think could the government cut down petrol costs? Could it cut the duty on petrol? What could it do?
'This is the victory of the people of Gujarat who want real development, not the hype of development.'
Though no reason was officially cited for his absence, Trinamool Congress sources here said Mitra will attend a crucial parliamentary meeting of the party in Kolkata on Tuesday to discuss the Centre's decision to hike diesel price, restrict of subsidised cooking gas and allow FDI in retail and decide the future of the party's ties with the United Progressive Alliance.
Aviation turbine fuel to now cost more.
A 14.2-kg subsidised LPG cylinder in Delhi will now cost Rs 507.42 as against Rs 505.34 previously, according to a price notification of State-owned fuel retailers.
Industry think-tank TERI has demanded an end to government dictats on pricing of petroleum products and sought subsidies on domestic cooking gas (LPG) and kerosene to be directly provided to consumers.
India's crude oil import bill is set to exceed $100 billion in the current fiscal year ending March 31, almost double its spending last year, as international oil prices trade at seven-year highs. India spent $94.3 billion in the first 10 months (April-January) of the ongoing financial year that started April 1, 2021, according to data from the oil ministry's Petroleum Planning & Analysis Cell (PPAC). It spent $11.6 billion in January alone when oil prices had started to surge.
For every rupee fall against the dollar, the under-recovery will increase by Rs 8,000 crore
It is a pity that the Modi government, which began on the right note when it came to pricing issues, has changed colour and become interventionist in its impulses, says T N Ninan.
The government should end subsidised domestic cooking gas (LPG) for people with income of more than Rs 6 lakh per annum, a Parliamentary Panel has suggested.
The Bharatiya Janata Party on Saturday released its manifesto for the November 17 Madhya Pradesh elections promising MSP for wheat at Rs 2,700 per quintal and paddy at Rs 3,100 and houses for beneficiaries of the state's flagship scheme 'Ladli Bahna'.
The government is looking into demands for raising the cap on supply of subsidised cooking gas (LPG) cylinders per households, Oil Minister M Veerappa Moily said.
Criticising lack of "appropriate" pricing of petroleum products, the pre-Budget Economic Survey on Monday warned that the current practice of not passing on cost of production to consumers will have serious consequences and said non-resolution of sub
In a much relief to the common man, Oil Minister Veerppa Moily said that the cap on subsidised liquefied petroleum cylinders is to go up to 9 in a year.
LPG cash transfer to begin with Mysore, Hyderabad.
'The wife will not only abuse her husband for giving her less money, but also abuse the government.' 'Look at the price of a cooking gas cylinder, it is Rs 1,200.'
The petroleum ministry has said that fuel prices should go up by Rs 10.43 a litre and cooking gas price by Rs 114.45 per cylinder, with the Left parties opposing the move.
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.
The government-appointed Kirit Parikh committee suggested an 'immediately' hike prices of diesel by Rs 5 a litre, Rs 4 per litre in kerosene and Rs 250 per cylinder in LPG, reduce annual entitlement of subsidised cooking gas cylinder from six from nine and phase out diesel subsidy in one year to cut a record subsidy burden.
Losses on sale of diesel at government-controlled rates have hit a record Rs 19.26 a litre, sending state-owned oil companies scrambling for ways to cover the mounting losses.
Inflation has dipped to 4.39 per cent for the week ended January 31, from 5.07 per cent in the previous week, says Commerce Minister Kamal Nath.
Low oil prices drove the growth in states' share faster than expected, says Abhishek Waghmare.
Finance Minister Pranab Mukherjee asked all chief ministers to reduce state levies on diesel, kerosene and cooking gas to mitigate the impact of the price hike on the common man.
A decision on raising diesel prices by Rs 3-5 per litre, kerosene by Rs 2 and LPG by up to Rs 50 per cylinder will be taken after UPA Chairperson Sonia Gandhi returns from US, top government officials said.
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 relaxation would be available only to those beneficiaries who have been credited with the advance for buying the cylinder but have not been able to purchase the refill.
State-run gas utility GAIL India on Monday said it should be exempted from payment of fuel subsidies as it does not get any upside from rise in crude oil or natural gas price.
It will be available from April 24.
The Union government is likely to cut import duties on diesel, kerosene and cooking gas to cushion the impact of high international crude oil prices on the domestic market.
After diesel, the government is considering raising cooking gas (LPG) and kerosene rates in small doses of Rs 5 per cylinder and Rs 0.50-1 a litre every month to wipe out Rs 80,000 crore subsidy on the two fuels.
It proposed that smart cards be issued to BPL families for supply of subsidised kerosene in urban and semi-urban areas to cut diversion of the fuel to unintended users. The panel also suggested a cash transfer system, whereby funds can be transferred to BPL families through a banking or postal system for purchasing of kerosene, instead of supplying the fuel much below the market price.
The under-realisation on fuel sales reported by the country's oil companies is overstated by as much as 15 per cent, according to experts, though this does not mean that the oil companies are making profits on selling subsidised petrol, diesel, cooking gas and kerosene.
The retail losses that the country's oil marketing companies incur on sale of petrol, diesel, cooking gas and kerosene at subsidised prices have risen by 7.3 per cent to around Rs 440 crore (Rs 4.4 billion) per day in the fortnight ended March 31.IOC lost Rs 17 for every litre of petrol it sold, up from Rs 14.65 a litre on March 15. It lost Rs 316 per 14.2-kg cylinder, compared with Rs 303.65 per cylinder in the previous fortnight.
Inflation touched 5.48 per cent for the week ended April 9, mainly due to costlier vegetables, fruits, cooking gas and edible oils.
In line with the Centre's expectation of a benign price level, inflation fell further to 5.11 per cent in the penultimate week of 2004-05 fiscal, but was higher than 4.53 per cent a year-ago.
State-run oil refiners are likely to report profits on daily sale of petrol, diesel, cooking gas and kerosene in the fortnight ending December 31, after average crude oil prices have been nearly 3 per cent lower and the rupee has appreciated 3.2 per cent compared with the first fortnight of this month.
The Central government is stuck between the devil and the deep blue sea as far as the runaway fuel prices are concerned.
Indian Oil Corporation, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd are projected to lose around Rs 1,15,500 crore (Rs 1,155 billion) during the year as they sold petrol, diesel, kerosene and cooking gas at below production costs when crude oil prices rose steadily between April and July this year to reach a peak of $147 a barrel in early July.
The Central Consumer Protection Authority (CCPA) has imposed a penalty of Rs 1 lakh on e-commerce major Amazon for selling pressure cookers that did not meet quality standards. The CCPA also directed Amazon to notify the consumers of all these 2,265 pressure cookers sold through its platform, recall the products and reimburse the prices to buyers, the Department of Consumer Affairs said in a statement.
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