The price of non-subsidised cooking gas (LPG) was on cut by Rs 21 per cylinder and that of jet fuel (ATF) by a steep 3 per cent on the back of falling international oil rates.
Oil PSUs, which at the beginning of the fiscal were losing Rs 670 crore (Rs 6.7 billion) per day on selling diesel, domestic cooking gas LPG and kerosene at government controlled rates, are now losing Rs 372 crore (Rs 3.72 billion) a day, industry sources said.
Celebrate Thadri by rolling out this special Sindhi sweetbread.
Petroleum Minister Mani Shankar Aiyar on Thursday denied having presented to the Cabinet a proposal for raising LPG and kerosene prices.
Since 1993, when the BJP came to power after a stint of President's rule, the state has alternated between the Congress and the BJP.
In a move that could potentially irk New Delhi, China has offered to supply liquified petroleum gas to Nepal after gifting fuel to ease the crisis in the country, hit by acute fuel shortage due to a blockade at key border trade points with India.
ATF or jet fuel price has been cut marginally while rate of non-subsidised cooking gas LPG has been hiked by Rs 27.50 a cylinder.
"There is no immediate plan to decontrol diesel or LPG as they have cascading effect (on general prices)," Minister of State for Petroleum and Natural Gas R P N Singh told reporters in New Delhi.
A 14.2-kg subsidised LPG cylinder will cost Rs 494.99 in Delhi, while non-subsidised LPG rates have been cut by a steep Rs 120.50 per cylinder
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.
Perhaps the change brought about in the cooking gas economy will not lose its momentum if the next government proves forward-thinking enough to improve on one of the UPA's solid achievements.
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.
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).
The Congress will conduct a caste census in Madhya Pradesh after winning the assembly polls and establish a university in the name of Sant Ravidas, said party president Mallikarjun Kharge, accusing the regime at the Centre of wishing to change the Constitution.
'The price increases, particularly in respect of cooking gas, that is domestic LPG and PDS kerosene, have been quite minimal.'
The government on Thursday said it will "look into" a demand to raise the quota of subsidised LPG cylinders to 12 per household in a year from the current limit of nine, a day after the price of non-subsidised LPG was increased by a steep Rs 220.
The CPI(M) has asked the Centre to withdraw its decision to make Aadhaar cards compulsory for providing various benefits like cooking gas subsidy to people.
Petrol pumps in many cities witnessed long queues on Tuesday as people came to fill up their vehicle tanks fearing shortage of fuel amid the protest by truck drivers against a provision in the new penal law on hit-and-run accident cases involving motorists.
Modi had last month launched the 'Give-it-Up' campaign.
Oil and Natural Gas Corporation and GAIL India are likely to give 33 per cent lesser discounts on crude oil and cooking gas to the state-owned refining and marketing companies than estimated as oil prices have tumbled in the last three months and the refiners have started making profits.
No immediate comment was available from airlines on the impact of the price hike on passenger fares.
False and acrimonious debates such as Modi versus Manmohan might allow for victories that are political and partisan. But the real loser is the nation, India and Bharat, notes Arvind Subramanian, former chief economic advisor to the Modi government in its first term.
Taxability of LPG subsidy and other direct benefits paid directly into bank accounts of beneficiaries is unclear.
The Ministry recently issued an order saying 'no authorisation from Petroleum and Natural Gas Regulatory Board is required for setting up of a CNG station.' PNGRB has been since 2009 issuing licences to entities for city gas distribution networks, essentially for retailing compressed natural gas to automobiles and piped cooking gas (piped natural gas or PNG) to households.
Interacting with the Finance Minister P Chidambaram, party general secretaries and other functionaries urged populist measures such as farmer loan help, minority and tribal welfare schemes, while reaching out to the middle class by increasing the income tax exemption threshold and doubling the number of subsidised cooking gas cylinders.
More than ever before, women voters can make or mar a political party's electoral fortunes.
Aviation turbine fuel or jet fuel price was on Wednesday hiked by a steep 9.2 per cent, while that of non-subsidised cooking gas was raised by Rs 21 per cylinder.
Jet fuel prices on Thursday were hiked by the steepest ever 16 per cent to catapult rates to an all-time high in step with hardening international oil rates.
If the quota is raised to 12, about 97 per cent of the LPG consumers would be covered by subsidised LPG.
The price of non-subsidised LPG, which customers buy after using up their quota of 12 subsidised cylinders, was raised by Rs 16.50 per 14.2-kg cylinder, the first hike in six months.
One person was killed and at least nine others were injured when a three-storey residential building collapsed following an explosion in a cooking gas cylinder in Moti Nagar in Delhi on Wednesday morning.
A newspaper vendor from Neknoor in Maharashtra tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
The government appointed panel will look at the difficulties consumers faced in receiving the subsidy after buying gas cylinders at market rates.
Petrol and diesel sales in India jumped in September as economic activity picked up with the nearing festival season and the ending of the monsoon raised the demand, preliminary industry data showed. Petrol sales soared 13.2 per cent to 2.65 million tonnes in September when compared to 2.34 million tonnes of consumption in the same month last year. Sales were 20.7 per cent higher than Covid-marred September 2020 and 23.3 per cent more than pre-pandemic September 2019.
In September, issue of new LPG connections had been put on hold pending a massive nationwide exercise to eliminate multiple connections
Cooking gas LPG price on Wednesday was hiked by Rs 15 per cylinder in line with a surge in international fuel prices. Rates of both subsidised and non-subsidised LPG prices were hiked, oil company officials said. Cooking gas now costs Rs 899.50 per cylinder in Delhi.
With UPA facing allegations of corruption, Prime Minister Manmohan Singh on Saturday said his government wants to use new technology to curb dishonesty and bring transparency in governance.
After Congress, the United Progressive Alliance on Thursday endorsed government's recent tough economic decisions and discussed the need "to do more reforms".
Cooking gas distributors are threatening to go on strike on October 1, opposing the restriction on sale of subsidised cylinders.
Dravida Munnettra Kazhagam, a key ally of the ruling United Progressive Alliance, on Tuesday announced its participation in the nation-wide bandh on September 20 called by several non-UPA parties to protest the Centre's decision to hike diesel price, allow FDI in multi-brand retail and limit subsidised cooking gas.
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