The government does not seem inclined, at least in the petroleum sector, to effect sudden and steep upward price revisions to tame its huge subsidy burden and rein in fiscal deficit.
Jet fuel constitutes over 40 per cent of an airline's operating costs and the price increase will raise the financial burden on cash-strapped carriers.
The government on Wednesday launched a new marker system to detect adulteration of kerosene in petrol and diesel.\n\n
Miffed at not being able to meet Jama Masjid's Shahi Imam Bukhari, a 32-year-old man allegedly threw a bottle of kerosene at the cleric on Sunday in an attempt to set him ablaze.
An increase in petrol, diesel, domestic cooking gas (LPG) and kerosene prices looks "imminent" after the Finance Ministry said it has no money to provide for fuel subsidy.
In a unique protest against fuel price hike, West Bengal Chief Minister Mamata Banerjee on Thursday rode pillion on an electric scooter to state secretariat Nabanna.
A college student who was found without clothes and severely burnt lying along a national highway in Shahjahanpur in Uttar Pradesh has claimed she was set on fire after a failed attempt to gang-rape her, police said on Wednesday.
'We will do whatever is necessary when the day and moment arrives.' 'As a party which has ruled Maharashtra for most of its existence, we also have our base and turf to protect.'
According to reports, the price of petrol is expected to go up by Rs 5 and diesel by Rs 6.
The Congress government had always tried to deal blow to poors, the Bihar Chief Minister said, adding the price of petrol would also increase inflation and it will add to the people's misery.
Price of diesel, LPG and kerosene will have to go up.
Close on the heels of a 70 paise per litre hike in petrol prices, the Oil Ministry is pushing for an increase in diesel and domestic cooking gas LPG prices, even though it is unsure of political support for the unpopular move with the ruling UPA alliance.
At least 10 persons, including four cops, were injured when police resorted to lathicharge on Tuesday to chase away a mob protesting alleged diversion of kerosene meant for relief at Chikiti in Odisha's cyclone-hit Ganjam district.
Parts of Raigad, Ratnagiri districts in the coastal Konkan region and Kolhapur district in western Maharashtra, have been worst affected by the floods. Besides that, heavy rains have been pounding parts of Satara district.
Indian government is trying hard too woo global investors.
According to sources, the task force made a separate presentation on fertiliser, LPG and kerosene, covering issues like existing subsidy regime and the proposed new model.
'Everyone was talking about migrants, frontline workers and cops...' 'Nobody was talking about sex workers during the pandemic.'
Helicopter sorties with relief to earthquake-affected areas which resumed on Sunday after a two-day gap were again suspended due to incessant rain on Monday.
A top oil ministry official said it will be "suicidal" to even think of raising prices of diesel, LPG or kerosene just before Parliament is to meet.
Reforms under the Modi government will maintain a slow and tentative pace, constantly wary of political opposition. It may not be reform by stealth, but it is reform on the quiet, says A K Bhattacharya.
Concerned over the misuse of subsidies provided under various schemes, Finance Minister Pranab Mukherjee on Monday said the government will provide a direct cash subsidy on kerosene and fertilisers to the poor from March next year.
Sale of diesel, the most consumed fuel in the country, fell 12 per cent, while petrol sales fell 7.4 per cent year-on-year to 2.38 million tonnes although it rose 5.3 per cent from 2.26 million tonnes in July as commuters preferred driving to using public transportation.
The price of petrol breached a three-year high on Monday at Rs 74.50 a litre, while the price of diesel was at its highest at Rs 65.75 a litre
Finance Minister Pranab Mukherjee asked all chief ministers to reduce state levies on diesel, kerosene and cooking gas to mitigate the impact of the price hike on the common man.
The petroleum minister's three-pronged approach does little to address the real issues of fuel diversion and adulteration, say experts.
Petrol and diesel prices were hiked for the fourth consecutive day on Saturday by 35 paise per litre, pushing the total increase in rates on petrol to Rs 36 per litre and on diesel to Rs 26.58 since early May 2020 when taxes on the two fuels were raised to record levels. Petrol in Delhi now costs Rs 107.24 a litre and diesel comes for Rs 95.97, according to a price notification of state-owned fuel retailers. The latest increase that follows the unrelenting hike in international oil prices has pushed pump rates across the country to their highest-ever levels.
Of the 650 cases registered in connection with anti-Sikh riots in Delhi, 267 were closed as untraced by the Delhi Police.
IOC and its sister PSUs, Hindustan Petroleum and Bharat Petroleum, sell diesel, domestic LPG and kerosene at rates way lower than their imported cost to help government keep general price inflation under check.
Already, the government's resources are strained due to various fiscal stimulus and the Survey has separately noted that high growth environment creates scope for partial rollback of these stimuli.
Close on the heels of two Dalit children being burnt alive in Faridabad, a 21-year-old Dalit youth was allegedly burnt to death by a former village head and his family members here over some old rivalry, the police said on Friday.
India's space scientists are developing semi-cryogenic propulsion technology using kerosene that is expected to give the country the capability to launch six-tonne class satellite, almost three times the weight its rockets can currently handle.
State-owned Indian Oil Corp (IOC) is losing Rs 151 crore per day in revenues on selling diesel, domestic LPG and kerosene below their imported cost, a company official said on Thursday.
Prime Minister Narendra Modi was on Monday quoted as saying that Tuesday's expansion of his ministry will reflect "budget focus and priorities".
Researchers found that fuel-based lighting today provides 150,000 jobs worldwide.
State-owned fuel retailers IOC, BPCL and HPCL are likely to lose Rs 65,000 crore on selling diesel, domestic LPG and kerosene below cost during the current fiscal, Oil Minister Murli Deora said on Wednesday.
Petrol prices have been cut in small doses on 20 occasions.
Fuel retailers sell diesel, domestic LPG and kerosene at government controlled rates which are below market price. The loss they thus incur is made good through cash subsidy from the government and dole from upstream firms like Oil and Natural Gas Corporation.
Delhi may become the first state to move to direct cash pay-outs of subsidies on kerosene sold through the public distribution system (PDS). The petroleum ministry said it has "welcomed" a proposal to this effect from the Planning Commission, which acted on a plan suggested by Delhi Chief Minister Sheila Dikshit.
The ministry has asked the oil marketing companies to further step up their efforts to curb adulteration of petroleum products.
The government is working on a plan to pass on part of the revenue loss public sector oil marketing firms are incurring on sale of liquefied petroleum gas and kerosene, to refiners, including Reliance Industries Ltd.
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