Shares of hospital operators, health services providers and insurers rallied broadly
One of the politically sensitive issues on which the United Progressive Alliance government will have to decide soon is the subsidy increase on phosphatic fertilisers by up to Rs 1,000 crore (Rs 10 billion) to keep a check on domestic prices.
Biju Janata Dal leader and Lok Sabha MP from Kendrapara in Odisha Baijayant Panda on Thursday demanded removal of food subsidy extended to the Parliamentarians in Parliament canteen to raise public trust and confidence in lawmakers.
Raising the issue during Zero Hour, MP Achuthan (Communist Party of India-Marxist) said that in Kerala public sector oil companies had made it mandatory for people to get Aadhar-linked bank accounts for getting subsidy on liquefied petroleum gas.
As Modi's government embarks on its third term, apart from ensuring these schemes boost India's green mobility, addressing bottlenecks like battery swapping and meeting PLI deadlines are likely to be the government's major tasks.
Riniki Bhuyan Sarma, the wife of Assam Chief Minister Himanta Biswa Sarma, has filed a Rs 10 crore defamation suit against Congress MP Gaurav Gogoi for 'false' allegations of irregularities in a food processing project.
The two government upstream companies, along with GAIL, make good a third of the losses made by government oil marketing companies.
For 2014-15, the bill on this account is likely to be 12.8% more than in 2013-14.
Nilekani proposes centralised PDS network, model PDS software for transparency.
The central government is considering an expansion of the list of fertilisers that are eligible for subsidy.
While conditions have improved over the last decade in western UP, there are still unfulfilled needs.
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.
Last month, the government approved the proposal of doubling gas price from RIL's KG basin from $4.2 mmbtu to $8.4 mmbtu from April 1, 2014.
Govt targets 1 cr consumers to give up LPG subsidy.
With the government putting off an increase in diesel prices, Petroleum Minister Murli Deora sought an increase in government subsidy to bail out the three oil marketing companies (OMCs). Deora met finance minister Pranab Mukherjee in Mumbai to seek an immediate release of `10,000 crore as interim subsidy to Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation.
State-run gas utility GAIL India on Monday said it should be exempted from payment of fuel subsidies as it does not get any upside from rise in crude oil or natural gas price.
India's total fertiliser subsidy burden in the current financial year is more than double the budgetry allocation of Rs 24,500 crore (Rs 245 billion) as announced in the Budget.
All these measures will revitalise the manufacturing sector, which has been in doldrums.
Increased production of pulses, oilseeds, and cereals will help boost domestic supplies and contribute to keeping inflation low in the coming months.
It will take 1/10th of the current expenditure on subsidy to benefit the bottom 40 per cent of the population, according to Laura Papi, Assistant Director, Asia and Pacific Department at the International Monetary Fund.
C Rangarajan, chairman of the economic advisory council to the prime minister, has called for revisiting subsidies, dividend distribution tax and tax exemptions.
'There is no immediate threat to the government, and they would prefer the growth agenda.'
'Any finality in such matters requires political views. We will review it closer to the full Budget.'
India has warned the developed world not to confuse subsidies with tariffs and said if a country like the US wanted "headroom" for distortions in subsidies the developing world will be seeking the same for tariffs.
Indian govt must find solution to ever increasing LPG subsidy. Govt must cap LPG subsidy.
Under attack from Left parties and other allies like DMK, the government on Tuesday put on hold the decision to reduce quantity of foodgrains under the public distribution system that would have brought down food subsidy.
Over 12,450 LPG users have so far voluntarily given up their subsidies, but this accounts for only 0.008 per cent of about 15 crore (150 million) domestic cooking gas consumers in the country.
Indian state's generosity is not restricted to its poorest citizens.
The banks argue since the scale of credits is unforeseen, they will have to bear an unknown cost of servicing these accounts.
The recent 'revelation' by TN fishers freed by Sri Lanka after they had paid up Lankan rupees 50,000 each in fines, that their hair was tonsured in prison and they were forced to remove their garments other than the underpants, and were also made to clean toilets, as if with vengeance, has touched a raw nerve this time, just as another issue or issues had done it ahead of the Jallikattu protests, observes N Sathiya Moorthy.
The government is willing to increase its contribution to the subsidy bill on retail sale of oil products
'We now look at divestment as an opportunity for maximising the value of public assets, not necessarily as a short-term resource-raising measure.'
The government on Tuesday announced a Rs 200 per cylinder cut in prices of domestic cooking gas as it looked to counter the cheaper LPG promise of the Congress in upcoming assembly elections in states like Madhya Pradesh.
Two days ago, External Affairs Minister S Jaishankar asserted that Pakistan-occupied Kashmir was, is and will always be part of India.
Assuming we still have a Modi-led majority government after May 2024, there is no guarantee that reforms will move at anything more than a snail's pace, though we must be thankful even for that, notes R Jagannathan.
The coaching-tuition-profiteering model built on the back of a broken education system is a scandal and an abomination, and must go, asserts Shekhar Gupta.
The new four-wheeler (4W) electric vehicle (EV) policy may spur the entry of global majors. The manufacturing policy cuts Customs duty to 15 per cent, given a minimum investment commitment. It calls for a minimum investment of Rs 4,150 crore (about $500 million) for making electric four wheelers (e-4Ws), with manufacturing to commence within three years of approval.
Granting SCS to the state has been a long-pending demand of the JD-U supremo and Bihar chief minister Nitish Kumar, whose Bihar cabinet had even passed a resolution last year requesting the Centre to grant SCS to the state.
After prospects of a higher subsidy outgo on food and fertilisers, the government is faced with the spectre of a higher petroleum subsidy. Rising crude oil prices and its inability to increase fuel prices is all set to spoil the government's subsidy calculations. The country meets 80 per cent of its crude oil demand through imports.
