The Ministry recently issued an order saying 'no authorisation from Petroleum and Natural Gas Regulatory Board is required for setting up of a CNG station.' PNGRB has been since 2009 issuing licences to entities for city gas distribution networks, essentially for retailing compressed natural gas to automobiles and piped cooking gas (piped natural gas or PNG) to households.
Moving from pricing control to a free market means stiff competition.
After grappling with the issue for two years, the Ministry of Petroleum and Natural Gas had on November 21 ordered that the margin to be charged, over and above the gas sale price, should be fixed between the seller and buyers in all sectors other than urea and LPG.
Midcap stocks continued to remain on buyers' radar with BSE Midcap index up 0.1%.
The company had received a loan restructuring package from banks under the 5/25 scheme last year.
The government had in October 2007 set a sale price of $4.20 per million British thermal unit based on the price discovered by RIL from key customers.
Modi said the push towards a gas-based economy where the share of environment-friendly fuel in the energy basket will be increased from 6.2 per cent to 15 per cent by 2030, will create lakhs of jobs and help meet India's COP-21 commitment of cutting emission intensity by 33-35 per cent.
If indeed the issues involved between the government and RBI are of immense public interest, why not make public the arguments of both the government and the RBI, irrespective of the outcome of the process, says Tamal Bandyopadhyay.However, the Act is silent on what happens if the governor's views differ from that of the government. If Patel does not want to budge from his stance the government can either see merit in the Governor's arguments and decide against going ahead with its plan or overrule him. My guess is that the issues raised by the government need to be sorted out not at the November 19 board meeting but between the Governor and the government, says Tamal Bandyopadhyay.
BC Tripathi, who helms India's largest natural gas marketer and transporter -- GAIL, discusses last-mile connectivity to homes with Jyoti Mukul and Shine Jacob.
Re-instatement of 5% custom duty on crude imports will help.
'The new Indian cinema has still not found its voice and identity. It's trapped under the deadwood weight of Bollywood and popular Indian cinema.'
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