The Left-leaning trade union CITU on Tuesday condemned the high-powered B K Chaturvedi Committee's call for raising fuel prices every month till they are in line with costs saying the panels' report should be outrightly rejected.
'If I don't fulfil promises made in it, I can be sent to jail,' he said.
The central bank had revised its inflation forecast significantly downward in the last policy
'I don't think Siddhartha has done anything wrong. He has not managed his debt well. In any case, he is not the best example of the system going wrong or the system pushing him hard. I think on that particular day, he was depressed and took an impulsive decision. It will be unfair to blame the system.'
With the government giving limited freedom to state-run oil companies to fix auto fuel prices within a narrow price band, petrol prices are set to go up by Rs 0.57 per litre and diesel by Rs 0.92 per litre from August 1.
Total income from operations, however, dipped 27 per cent to Rs 68,261 crore.
The Union Cabinet is likely to take up the airline industry's concerns over high taxes on jet fuel and airport charges at its next meeting and a Group of Ministers (GoM) may be set up to focus on ATF pricing.
'The levy proposed to be charged on air tickets for regional connectivity fund would marginally increase cost.'
Indian carriers are expected to double their fleet size by 2020 to 1,000 aircraft by 2020, promising a huge opportunity for the maintenance, repair and overhaul business.
'It is not simply demonetisation or GST, it is this government's failure to manage the financial sector crisis.'
Airline's auditor attributes profit to changes in accounting system; GoAir says full disclosure made and auditor's note is unqualified
Revenue was also boosted by robust growth in retail business which recorded a 73.6 per cent increase to Rs 11,571 crore
Eyeing a larger share of the passenger traffic pie, Malaysia Airlines has reduced the fuel surcharge by 53 per cent from Monday for flights to Kuala Lumpur from India. As a result of the reduction, the return airfare from India to Malaysia starts from Rs 16,528, including taxes, the carrier said in a statement.
IndiGo's ascent is not without its risks, however.
Petrol will cost Rs 17.46 per litre and diesel Rs 18.07 in Delhi if all duties and taxes on the two fuels are removed, Petroleum Minister Mani Shankar Aiyar said on Tuesday.
The company's net profit was Rs 5,972 crore in the same period of 2014-15 fiscal.
A day after withdrawal of low fares by some major airlines, Jet Airways and its low-cost subsidiary JetLite have introduced Rs 300 and Re 1 as basic fares respectively under 30-day advance purchase scheme.
The budgetary provision for all aviation infrastructure has generally been reduced, apparently with the view that most of the airport modernisation programmes, barring those in Kolkata and Chennai, were being carried out through public-private partnership.
It would also be the last policy of Rajan
The Prime Minister-appointed B K Chaturvedi panel is believed to have suggested raising fuel prices every month to bring them at par with production cost and has sought imposition of a 'Super Profit Tax' on oil fields awarded before 1999.
Structural changes to government finances could be focus of the Union Budget, says Mihir S Sharma.
'Donald Trump's ideas would result in a prolonged recession that would cost 3.4 million jobs'.
Customs and excise duty rates have been amended mainly to promote Make in India.
Rising aviation turbine fuel cost, poor infrastructure, regulatory controls and reluctance of consumers to take to air travel are some of the issues hurting aviation industry in the country, Deccan Aviation executive chairman Captain G R Gopinath said.
The government is set to dump B K Chaturvedi panel's recommendation for a monthly increase in fuel prices till they are at par with costs, but may accept the high-powered committee's suggestions for imposing a tax on oil produced from fields awarded before 1999.
'There has been far too much overconfidence about the size and composition of the Indian consumer economy,' notes Mihir S Sharma.
Lower fuel subsidy payouts might restrict gross fiscal deficit in FY15.
Indian state's generosity is not restricted to its poorest citizens.
As full-service carriers hiked fares and surcharges due to skyrocketing jet fuel prices, the no-frill ones have launched special offers with SpiceJet on Thursday announcing the sale of three lakh tickets for Rs 3 each plus taxes and surcharge from Friday.
It is only 'zero-cost' money from FPIs that is keeping the market afloat
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