The price of the Indian basket of crude oil jumped as much as 78 per cent to cross $50 a barrel last week, from a multi-year low of $28 in January.
Rural India was left to fend for itself by those who ruled the country earlier, Modi said in a swipe at the Congress.
FIXES BY THE GOVERNMENT: Energy price fixed, tax issues linger.
Pahal looks to cut down diversion and eliminate duplicate.
Finance Minister Nirmala Sitharaman on Thursday announced a new job creation scheme by giving subsidy to those establishments that make new hires. The subsidy would be to cover for retirement fund contributions by employees as well as employers for two years, she said. Employees contribution (12 per cent of wages) and employer's contribution (12 per cent of wages) totalling 24 per cent of wages would be given to establishments for two years, she said. Under the Aatmanirbhar Bharat Rozgar Yojana, every Employees' Provident Fund Organisation (EPFO)-registered establishment taking new employees would get this subsidy.
The move would help the PM Modi shape a women-centric narrative.
Of the 40 CEOs polled from across the country, 60 per cent identified a fractured electoral mandate as a bigger risk than trade wars, volatile oil prices, and inflation.
IOC, BPCL and HPCL on Thursday afternoon stopped ATF supplies to Air India at six airports - Kochi, Pune, Patna, Ranchi, Vizag and Mohali - over payment defaults. AI flights from these places were tanking up from other airports.
According to estimates, if the companies are not allowed to raise petrol rates at least Rs 5 a litre by the first fortnight of September, they might begin to suffer underrecoveries on this decontrolled auto fuel, too -- for the first time this financial year.
'The major reason is the reluctance of the Indian citizen, particularly in the middle class, to pay his dues. Only around three per cent of Indians pay any income tax and these are mostly those who are employed, and whose taxes are deducted. I often refer to us as a nation of thieves, who steal from our government,' says Aakar Patel.
The main losers on the Sensex were Tata Steel, Hero Moto, BHEL, ONGC & Maruti Suzuki.
Most encouraging thing is savings and investment rates are high.
The FinMin will pay Rs 5,324 crore (Rs 53.24 billion) for Jan-March.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy. Here are his replies to some of the 'buy, sell, hold, avoid or exit?' e-mails that we have received.
When household bills for Liquefied Petroleum Gas (LPG) jump over 60 per cent for those using 12 refills a year, the increase in the price of cooking fuel will beat that of petrol.
EY said out of the nearly Rs 21 lakh crore package, Rs 8.01 lakh crore is on account of liquidity enhancing measures taken by the RBI since February.
Surface and air links between Kashmir and rest of the country were cut off on Wednesday due to snowfall in the valley as the Srinagar-Jammu National Highway was closed for traffic and all flights to Srinagar Airport cancelled.
Only 48.3 per cent of the rural households used LPG, while the figures were much higher in urban areas at 86.6 per cent, according to a NSO report.
Here's how political leaders reacted to the government's decision to hike the price of diesel by Rs 5 and limit the number of subsidised gas cylinders to six per household per year.
Banerjee, who had been demanding a waiver of interest on the state's debts for a period of three years, said even a year's moratorium on repayment of interests on central loans would enable the state to create 10 lakh (1 million) jobs.
Describing DBT for LPG as a 'tremendous success,' Oil Minister M Veerappa Moily said the programme, when implemented throughout the country, would help save Rs 8,000-9,000 crore (Rs 80-90 billion) of subsidy from going to unintended beneficiaries.
The world, he said, needs to move towards a transparent and flexible market for both oil and gas.
Many users did not know that their entitlement was not coming to their regular bank account but going to an account which they had not applied for.
Moody's Investors Service on Friday projected India's growth at zero per cent for the current fiscal and said the negative outlook on sovereign rating reflects increasing risks that GDP growth will remain significantly lower than in the past. The outlook also partly shows weaker policy effectiveness to address economic and institutional issues, it noted in the update to its November 2019 rating forecast.
The pricing and marketing freedom for exploitation would be capped by a ceiling price.
In a step towards dual pricing of domestic cooking gas, the government has decided to allow oil-marketing companies to sell the fuel at market prices in distinct fibreglass cylinders. IOC, BPCL and HPCL will sell these cylinders in Bangalore, Mumbai and Pune, which have been identified as test beds for the pilot project. The companies could revise fuel prices for transparent cylinders as LPG for them will not be subsidised. Feasibility of this project is yet to be adjudged.
Tewari said BJP's Hindu-Muslim and India-Pakistan rhetoric is the only way for the ruling party to cover up for its failure in improving the economy of the country which is in a shambles right now due to its policies.
'The election has to be fought on perennial issues and not on a tragedy of one moment'
TVs, air conditioners, washing machines, inverters, refrigerators, electric fans and cooking appliances may become cheaper
Discoms will not only be penalised for undue outages, they will not be able to bill you for losses.
The challenge of achieving fiscal deficit targets for the next two years seems daunting.
Total subsidy bill could come down to around Rs 2 trillion.
These are companies with a strong track record and good prospects on earnings.
The Economic Survey called for improving business environment.
Snapdeal delivers to the Dharavi centre, where buyers pick up their orders.
American media has taken a critical view of his accomplishments, saying his flagship 'Make in India' drive is "so far mostly hype."
The prime minister's visit to Washington should focus more on shopping for energy security and stopping the US from snooping on us, reigning in its popular and innocuously operated instruments to gather intelligence like Google, says Tarun Vijay.
'If Modiji likes his pakodas fresh from the pakodewala, why does his government keep making things difficult for us?'
He said the UPA had left the economy in a dire state, with Consumer Price Index and food inflation at double digit, Wholesale Price Index inflation around 6-7 per cent and growth prospects were limited.
'There are 25 million farmers in India with at least 2 to 3 cows each.' 'If all them use biogas to cook, millions of LPG units and firewood can be saved.'
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