The Union Cabinet on Thursday approved a revision in the formula for pricing of natural gas and imposed cap or ceiling price to help cut CNG and piped cooking gas prices by up to 10 per cent. Natural gas produced from legacy or old fields, known as APM gas, will now be indexed to the price of imported crude oil instead of benchmarking it to gas prices in four surplus nations such as the US, Canada and Russia, Union I&B Miniser Anurag Thakur told reporters after a meeting of the Cabinet. APM gas will be priced at 10 per cent of the price of basket of crude oil that India imports (Indian basket of crude oil).
As oil marketing companies (OMCs) stare at huge under-recoveries, India is facing fuel shortage across the country with states like Rajasthan, Madhya Pradesh, Karnataka Uttarakhand, Gujarat and Haryana being the worst hit. The under-recoveries suffered by OMCs are around Rs 20-25 a litre for diesel and Rs 14-18 a litre for petrol, said sources. Government and state-run companies denied reports of any crisis or supply-side issues on the availability of fuel.
Will G20 showcase an India that is inclusive, culturally rich, diverse and tolerant, asks Ramesh Menon.
Russian Foreign Minister Sergey Lavrov, who was representing President Vladimir Putin, left Bali on Wednesday, a day ahead of the scheduled conclusion of the G20 Summit held amid the economic challenges triggered by the Russia-Ukraine war.
The talks between the two leaders covered the entire gamut of bilateral ties as well as key regional and global issues, including the Ukraine conflict.
On Pakistan, the publication quoted him as saying that India wants "normal and neighborly relations."
Chances are any such disruption will not occur on the major shipping lanes but on some edge of the ocean between India and China. Even if there is no actual disruption, the costs of averting one can be punitive. The setting for this is provided by the energy shortage both countries face, says Subhomoy Bhattacharjee.
Prime Minister Manmohan Singh on Tuesday dedicated GAIL India Ltd's 1,000 km Dabhol-Bangalore natural gas pipeline to the nation.
About 3,500 will get it through off-grid or renewable energy solutions
India has maintained communication with both Russia and Ukraine. It is time Narendra Modi steps up on the world stage and plays the role of peacemaker, suggests military historian Colonel Anil A Athale (retd).
India's consumer price index (CPI)-based inflation could ease in the coming months thanks to the arrival of kharif crops, lower international commodity prices, and a pass through of lower input costs to consumers, the finance ministry said in its Monthly Economic Review (MER) for October, which was released on Thursday. The MER, however, warned that the global macroeconomic situation remained precarious and a recession in many advanced economies would impact India's exports. "Easing international commodity prices and new Kharif arrival are set to dampen inflationary pressures in the coming months.
India's manufacturing sector activity moderated in January amid slower increase in total sales, and headcounts were broadly unchanged amid sufficient staff numbers to cope with current requirements, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) fell from December's recent high of 57.8 to 55.4 in January, as factory orders and production rose at sharp, albeit slower, rate. The January PMI data pointed to an improvement in overall operating conditions for the 19th straight month.
The government may provide for targeted fiscal incentives and allocation of funds for promotion of green hydrogen in the country in Union Budget 2022-23, which is slated to be unveiled in Parliament on Tuesday. The government launched National Hydrogen Mission in 2021. Earlier this month, Power and New & Renewable Energy Minister R K Singh had indicated that a green hydrogen policy will be unveiled in February which would feature many incentives to boost green hydrogen in the country. "While 2021 saw the launch of National Hydrogen Mission, it is likely that the Budget may provide for targeted fiscal incentives for R&D in green hydrogen segment, creation of domestic supply chain for hydrogen and reduce customs duties on electrolysers to boost green hydrogen production," says Venkatesh Raman Prasad, Partner, J Sagar Associates (JSA).
India's housing sector is witnessing probably the "biggest boom" in the last one and half decade driven by various factors such as affordability and customers aspiration to own homes, HDFC Capital Advisors Managing Director and CEO Vipul Roongta said on Tuesday. Addressing a real estate summit organised by FICCI, he noted that the residential real estate segment has revived strongly after going through a lot of pain due to new realty law RERA and demonetisation. "In the last one and half decade, I think this is probably the biggest boom I am personally seeing as an organisation on the residential segment, whether it is affordable mid-income and premium housing properties," said Roongta, who is also co-chairman, FICCI Real Estate Committee.
A video shows that Shehbaz was asking an aide for help, however even after the aide's assistance, his headphones dropped once again.
Essar group on Friday announced the signing of a USD 2.4 billion (Rs 19,000 crore) deal to sell certain ports and power infrastructure to ArcelorMittal Nippon Steel in one of the largest post-pandemic merger and acquisition deals in India. In a statement, the Ruia-run firm said the deal also envisages a 50-50 joint venture between Essar and ArcelorMittal for building a 4 million tonnes a year LNG import terminal at Hazira in Gujarat. Without giving details, it only identified certain ports and power infrastructure that are primarily captive to operations of the Hazira steel plant, which was acquired by ArcelorMittal Nippon Steel (AM/NS) in 2018-19, as part of the deal.
Eleven bidders, including Adani Enterprises, have shown interest in the first-ever coal import tender issued by national miner Coal India (CIL). Recently, state-owned NTPC awarded 6.25 million tonnes (mt) of imported coal tender worth Rs 8,300 crore to Adani Enterprises. CIL, in a public statement on Tuesday, said: "The prominent Indian agencies among them (11 coal importers) were Adani Enterprises, Mohit Minerals, and Chettinad Logistics. "A couple of coal exporting agencies from abroad, including one from Indonesia, have also shown interest," it said.
The external affairs minister reiterated India's position on Afghanistan and highlighted its humanitarian support to the war-torn country, including the supply of wheat, medicines, vaccines and clothing.
When he is not using the solar pump on his field for irrigation, Raman Parmar uses it to evacuate power to utility grid
Speaking at the forum, Suzuki Motor Corporation (SMC) representative director and president Toshihiro Suzuki said, "Suzuki's future mission is to achieve carbon neutrality with small cars. "We will continue active investment in India to realise Self-reliant India (Atma-nirbhar Bharat)." Under the MoU, the company's wholly-owned arm Suzuki Motor Gujarat Pvt Ltd (SMG) will invest Rs 7,300 crore for the construction of a plant for BEV batteries at a land neighboring to SMG's existing plant by 2026.
The "load shedding", which entails compulsory power cuts in select areas, will be carried out both in urban and rural areas, the Maharashtra State Electricity Distribution Company said in a statement.
India's total purchase of oil from Russia in a month is probably less than what Europe does in an afternoon, External Affairs Minister S Jaishankar said.
India and the US had on July 17 signed a preliminary agreement for cooperating on emergency crude oil reserves, including the possibility of India storing oil in the US emergency stockpile.
Cyclonic storm 'Tauktae', which hit the Gujarat coast in Saurashtra region between Diu and Una on Monday night after passing close to the Konkan coast in Maharashtra, disrupted the power supply of 18.43 lakh consumers in Ratnagiri and Sindhudurg districts, an official release said.
A charge-sheet against Chandra and 12 others was filed.
Indian Oil Corp (IOC) is deploying drones to monitor its vast network of pipelines across the country as it doubles down on the use of technology to thwart attempts to steal fuel, helping not just save the commodity but also avoid accidents. The country's top oil company already uses a combination of sophisticated technology and patrolling to detect any leakage from the pipeline network spanning over 15,000-kilometers. And now, it is adding drones to monitor the vast network, officials said. Use of technology helped throttle 34 attempts to pilfer fuel and arrest 53 persons in the 2020-21 fiscal year, they said adding the latest incident was in Sonipat, Haryana on August 17.
Sidhu said there would be no need for Amarinder to go for power cuts or to regulate the office timings if the state acts "in the right direction".
Changes in global oil and gas rates matter more to India's economy than other major economies because the country imports around 87 per cent of its oil, half of its gas in the form of LNG, and over 60 per cent of its LPG.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 46 per cent jump in net profit for the three months ended June on the back of bumper earnings from oil and telecom businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 17,955 crore during April-June period -- the first quarter of 2022-23 fiscal year -- from Rs 12,273 crore in the year-ago period, it said a stock exchange filing.
Only a few thousand chargers dot the Indian landscape, some in working condition, others not, with some held hostage to the power supply vagaries of local utilities, reports S Dinakar.
As India builds its data centre capabilities, it is imperative that it is supported by green energy. This is because data centres are guzzlers of energy.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
Jet fuel prices on Saturday were hiked by a marginal 0.2 per cent -- the eighth straight increase this year -- to an all-time high, reflecting a surge in global energy prices. The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- was hiked by Rs 277.5 per kilolitre, or 0.2 per cent, to Rs 113,202.33 per kl (Rs 113.2 per litre) in the national capital, according to a price notification of state-owned fuel retailers. Meanwhile, petrol and diesel prices remained unchanged for the 10th straight day after rising by a record Rs 10 per litre each.
Israel, which was among the first responders in providing assistance to Nepal after the earthquake, had its entire embassy staff in Delhi work with military precision to rush relief. Shubha Singh reports
The finance ministry said on Tuesday that high energy and commodity prices due to the Russian invasion of Ukraine may provide an upside risk to inflation and continued vigil is required. "Going forward, elevated energy and commodity prices may act as an upside risk to the inflation outlook in the near-medium term. "Given the inherently unsustainable nature of high prices, international commodity prices are expected to level off early with an increase in supplies outside the crisis zone," the department of economic affairs said in its latest monthly economic report for February.
N Chandrasekaran, chairman of Tata Consultancy Services (TCS) and Tata Sons, believes that the Digital India Act is a necessity. "The Digital India Act is a necessity because so much has changed over the decades since the original Information Technology (IT) Act was put in place. I am glad the government is developing a participative approach to developing the Digital Act," he said, while answering shareholders at TCS' 27th annual general meeting. Minister of State for Electronics and IT Rajeev Chandrasekhar a few months ago had said that the government would shortly roll out the Digital India Act - a renewed policy for the digital ecosystem and cyberspace in the country.
'The US will not want to tangle with China landwards.' 'Nor will the US confront the Chinese navy seawards on India's account.'
The US President also underlined that both countries "will advance sustainable and inclusive growth while tackling shared challenges like the climate, energy, and food crises."
The electric scooter juggernaut which has been picking up momentum with heady growth month-on-month is now slowing down. The combined number of registrations in April of eight electric two wheeler companies has seen a dip of over 1 per cent to 43,061 vehicles, according to data from the Ministry of Road Transport & Highways' site VAHAN. The reasons are the continuing shortage of chips, especially after the Ukraine-Russia war, and the spate of fires which have led to scooters being recalled by manufacturers.
NITI Aayog has not said what the reasons were for having achieved or not having achieved what was sought to be achieved, or what lessons can be learned for the future, points out Aakar Patel.
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