The fuel price revision on Wednesday is likely to wipe out the Rs 1,100 crore net revenue earned by the three oil marketing companies--Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation -- in the last one month, say officials from these companies.
The government has chosen to profiteer off people's misery and suffering, Gandhi said.
'COPD causes an economic loss of Rs 35,000 crores.' 'We cannot afford to lose such a huge amount due to one disease.' 'COPD is a non-communicable disease and that's why it remained low in priority.' 'The time is right to shift the focus to COPD as HIV/AIDS and TB are under control. 'This badly neglected disease has become the second largest cause for deaths in India.' 'It is time for us to wake up and give due importance to this disease.'
He may not have been declared Bharatiya Janata Party's prime ministerial candidate just yet but Gujarat Chief Minister Narendra Modi on Wednesday seemed to have already donned the mantle when he said the nation would be comparing his speech with that of Prime Minister on Independence Day on Thursday.
Sharp reactions met the government's decision to enforce the single-steepest hike in fuel prices on Wednesday, and it came under attack from its allies as well as opposition parties.
'Chidambaram, lots of people argue not without justification, is all about bluff and bluster without any concrete achievement on the ground. His record in the finance ministry fully endorses that view,' argues Virendra Kapoor.
The government-appointed Kirit Parikh committee suggested an 'immediately' hike prices of diesel by Rs 5 a litre, Rs 4 per litre in kerosene and Rs 250 per cylinder in LPG, reduce annual entitlement of subsidised cooking gas cylinder from six from nine and phase out diesel subsidy in one year to cut a record subsidy burden.
With the assembly polls in major states concluding, the government may slash petrol price next week by Rs 10 a litre, diesel by Rs 3 per litre and domestic LPG by Rs 20 per cylinder in line with fall in global oil prices.
ONGC and Oil India might be hit because of this additional burden which they might have to take because of crude going to $100 per barrel.
'We worked hard, brought a very positive manifesto saying this is what we have done and this is what we will do.' 'But people liked something else.' 'They didn't like expressways, they want a bullet train.' 'I have realised that in a democracy, the poor doesn't know what they want.'
Oil Ministry felt it did not have a clear mandate to reduce rates post the January 2013 decision of the Cabinet to raise prices by 40-50 paisa a litre every month.
That "Rollback Budget" ushered in an era of rollback.
State-run Indian Oil Corporation on Wednesday it was incurring a loss of Rs 50 crore (Rs 500 million) per day on sale of all fuel products but petrol.
'My wife, who expresses her fears and anxieties every night when I return home after doing my duty at a COVID-19 containment zone, promptly wakes me up the next morning so that I can report for duty on time.'
NDA's energy plan powered UP win, but it's not a winner yet. Centre has claimed to have saved money by targeted coverage but critics say the system is not yet foolproof.
In a gross violation of a Supreme Court order, people in several cities burst firecrackers until at least midnight, two hours after the 10 pm deadline. Loud bangs rent the air in New Delhi.
India's fuel demand in May slumped to its lowest in nine months as restrictions to curb the second wave of COVID infections stalled mobility and muted economic activity. Fuel demand fell 1.5 per cent to 15.1 million tonnes despite the low base of May 2020 and was down 11.3 per cent when compared to the previous month, according to data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry. India was under one of the world's strictest lockdowns in May last year, which brought all mobility and economic activity to a grinding halt.
Billionaire investor Rakesh Jhunjhunwala explains why he thinks Modi should be at the helm of India.
If not for Palaniswami, it is hard to guess if the AIADMK would have been able to garner 33.3 per cent vote share as against the DMK's 37.7 per cent. AIADMK won 66 seats, its allies Pattali Makkal Katchi and Bharatiya Janata Party five and four seats respectively and proved yet again that the western region was its fortress.
The loss on diesel sales has inched up marginally to Rs 8.37 a litre even as a surge in international oil rates and a weakening rupee wiped out gains from a 50 paise increase in the price of the fuel.
The cost of paying the subsidy in cash has increased the money spent by the government.
Kejriwal blames Sukhbir Badal for blast, while Sukhbir, Amarinder blame the AAP chief for it.
Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy announced an ex gratia payment of Rs 1 crore each to the kin of those killed in the incident.
Long queues outside grocery stores, inflated prices, difficulty in getting important items -- these were some of the problems encountered by people in the National Capital Region (NCR).
Every dollar increase in crude oil price will add Rs 4,000 crore to the overall underrecovery.
Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation are losing Rs 486 crore (Rs 4.86 billion) per day as they are made to sell diesel, domestic LPG and kerosene way below cost to keep inflation under check.
Inclusive of the July hike of 25 paise, a monthly increase of similar amount would result in a saving of Rs 2.25 a litre for the current financial year alone.
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.
Govt diverts Rs 253-crore subsidy savings to the poor.
The biggest problem is that those with Aadhaar numbers aren't coming forward for seeding these with bank accounts.
Milind Deora, minister of state for communication and information technology and shipping, is one of the Congress' young guns under Rahul Gandhi. He tells Kavita Chowdhury that the core problem for the United Progressive Alliance in its second term has been its inability to communicate effectively. Edited excerpts:
55 million people already in the social security net
The savings would be better spent and might actually reach the poor, says Rahul Khullar.
'The BJP has sent out a message that its allies are at its mercy.' 'The allies cannot pressurise or bargain with the BJP any more,' says Mohammad Sajjad.
A look at the key decisions taken by the Narendra Modi government in its six months.
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
It is the seventh reduction in jet fuel rates since August
Behind the BJP's astounding electoral success is a small army of dedicated lieutenants marshalled by Amit Shah.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances