Discoms will not only be penalised for undue outages, they will not be able to bill you for losses.
State-owned Oil and Natural Gas Corp on Monday said UK's Cairn Energy Plc cannot sell a majority stake in Cairn India to Vedanta Resources without its consent.
The Union Cabinet on Thursday night gave the go-ahead for the creation of a 10-district Telangana and outlined the blueprint for carving out the country's 29th state from the current Andhra Pradesh.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
Oil and Natural Gas Corporation, Gas Authority of India and Oil India Ltd will pay Rs 1,200 crore (Rs 12 billion) to the state-run oil marketing firms for the losses they suffered during the first quarter for selling LPG and kerosene below the cost.
The Cabinet Committee on Economic Affairs may raise the subsidised LPG cylinder quota from 9 to 12 at the next meeting, Petroleum Minister M Veerappa Moily said.
Currently, oil companies sell kerosene at a loss of about Rs 18 per litre.
Food prices are also expected to move up due to the poor monsoons.
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.
Petrol prices on Thursday crossed Rs 73 a litre mark, the highest level since the BJP government came to power in 2014, while diesel touched a record high of Rs 64.11 a litre.
The task of Union Finance Minister Arun Jaitley to keep inflation under check, even when the country reeled under severe drought for two years in a row, and reduce the current account deficit, was made easier by low crude oil prices.
Referring to long-pending insurance bill, he said "we are on the verge" of opening the sector a little more.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
If you want a reminder of just how gorgeous our universe is, then take some time to browse the winners of the 2020 Insight Investment Astronomy Photographer of the Year competition. French photographer Nicolas Lefaudeux took the top prize with a tilt-shift perspective on the Andromeda Galaxy. The winning images are part of an exhibition opening on October 23 at the National Maritime Museum in London and have been collected into a book. Cue some truly innovative an unexpected captures of galaxies, nebulae, planets, the Moon and even SpaceX satellites.
I challenge Rahul Baba that let me know if there is even a single line in the act regarding the withdrawal of anyone's citizenship, said Shah.
Custom duties, a major concern for the oil sector.
The old note will continue to be accepted for other utility bill payments as well as at railway ticketing counters and counters of government or public sector undertaking buses for purchase of bus tickets till December 15
Coming down hard against Arvind Kejriwal for ordering an FIR against him and others for raising gas prices, Petroleum Minister M Veerappa Moily on Saturday said the former Delhi chief minister doesn't understand fundamental laws.
India plans to phase in cash transfers of food and kerosene subsidies from September, saving 10-15 per cent of the $21 billion in annual outlays on the benefits by eliminating fraud, a senior finance ministry official said on Thursday.
The government has only taken a pause and more measures will be announced in the days to come to help sectors hit by the coronavirus outbreak and also to make India 'Atmanirbhar Bharat', Minister of State for Finance Anurag Thakur said. Since the outbreak of the pandemic, the government has taken several steps to mitigate the hardships of the people due to lockdown and support growth, Thakur told PTI in an interview.
PSUs are asking for tax holiday for oil exploration and production activities to continue. The latest Budget imposes a Sunset clause for 100 per cent tax exemption for refining of mineral oil.
Oil & gas, banking and pharma sector stocks stole the show
Two persons are still unaccounted for following a massive "gas-related" explosion that razed three buildings to the ground and left 25 injured, four of them critically.
The 30-share Sensex gained 321 points to end at 26,430 and the 50-share Nifty surged 100 points to end at 7,879.
India annually spends Rs 4.5 lakh crore on importing petroleum products, and Transport Minister Nitin Gadkari feels methane is a cost-effective import substitution. But is it? Pallava Bagla examines the pros and cons.
Petroleum being out of the goods and services tax initially will create some anomaly as tax credit on some of the inputs to oil industry may not be given, said revenue secretary Hasmukh Adhia.
BJP's success in two state elections gave Modi room to cut through a thicket of regulations and state controls.
Indian government is trying hard too woo global investors.
Three sectoral indices -- Realty Index, Oil and Gas Index, and Bankex -- led the sharp fall in stock prices in the last five days, which saw the Bombay Stock Exchange's Sensex suffer its sharpest ever continuous drop. The three indices fell nearly 9 per cent each between January 14 and January 18, 2008. Power, metals, IT, capital goods and consumer goods indices also declined by 5-8 per cent during the week.
Unique Identification Authority of India chairman Nandan Nilekani said the Aadhar number "dramatically improves the convenience" and makes the life "simpler".
These are initiatives not commonly seen in economic administration.
Govt targets 1 cr consumers to give up LPG subsidy.
Telangana Rashtra Samithi chief K Chandrashekhar Rao along with a delegation met Prime Minister Manmohan Singh to thank him for getting the Telangana Bill passed in Parliament and also discussed issues related to the new state.
Telangana Rashtra Samiti chief K Chandrashekhar Rao along with a delegation met Prime Minister Manmohan Singh to thank him for getting the Telangana Bill passed in Parliament and also discussed issues related to the new state.
With India's imports exceeding exports, weak rupee does more harm than good. Analysts, however, say that rupee depriciation is positive for export-oriented sectors such as IT services, pharmaceuticals, textiles and automobiles
The medicos are considering legal experts and will move the Supreme Court against the government decision on Wednesday.
The government is considering a 3-rupee to 5-rupee hike in the price of diesel, which accounts for more than 40 percent of fuel use, government officials said last week, as the country looks to cut import costs by nearly $20 billion to trim a record current account deficit.
The students of Marjory Stoneman Douglas and other United States schools, Tim Cook, India's Indira Jaising and Mukesh Ambani. The names mentioned above have nothing in common... until now. They have all been named as Fortune's World's 50 Greatest Leaders. Here are some of the prominent names mentioned in the list.
Defying the indefinite curfew clamped in Greater Imphal area agitators on Thursday.
In UK, France and Germany, the president and CEO of Edelweiss Securities, anticipates votes incrementally in favour of local protection and de-globalisation.
