New Delhi: The government on Tuesday ruled out any further increase in diesel and cooking fuel prices even though the current retail rates are lower than their cost of production. "I am not so courageous," Oil Minister S Jaipal Reddy said when asked if the Government will consider raising prices considering the humongous Rs 167,000 crore revenue loss on diesel, cooking gas (LPG) and kerosene sale expected this fiscal. The...
12:41 AM, Oct 10, 2012
New Delhi: The Indian Oil Corporation (IOC) has cut the price of petrol by 56 paise per litre. The reduction in petrol price has come amid criticism being faced by the UPA government over the hike in diesel prices and cap on subsidised LPG cylinders. Following are the revised petrol prices in four metros after oil companies reduced prices with effect from Tuesday. In Delhi, the petrol price has come...
10:01 AM, Oct 09, 2012
New Delhi: India can depend on Canada as a reliable supplier of liquified natural gas (LNG) for decades to come, the country's Minister of Natural Resources, Joe Oliver, said on Monday. "We have vast natural resources in Canada. India, as one of the world's largest energy consumers, is looking to diversify its energy supply sources which Canada is well positioned to fulfil," Oliver told media persons here. "We see this...
09:23 AM, Oct 09, 2012
New Delhi: Petrol price may be cut by about Rs 1.60 per litre later this month as appreciation of rupee against the US dollar has helped state firms make profit on the fuel. Indian rupee appreciated to five-month high since the government announced allowing foreign direct investment (FDI) in multi-brand retailing. This has eased the cost of imports for oil firms, helping them make profit on sale of petrol. "Yes,...
10:29 AM, Oct 04, 2012
Mamata Banerjee on Monday said her party is planning to bring a no-confidence motion against UPA government in the next session of Parliament and sought support of other political parties in this regard. ...
09:27 PM, Oct 01, 2012
New Delhi: The Kelkar Committee on Friday recommended that the government cut subsidies in the three significant F's - food, fuel and fertiliser - in order to narrow down its fiscal deficit. The committee warned that India was on the edge of a 'fiscal precipice' and if measures were not taken soon, it would have a big impact on the Indian economy. The government, however, refused to implement any of...
10:44 AM, Sep 29, 2012
The Kelkar panel on Friday said that India was on the edge of a 'fiscal precipice' and that it should urgently slash fuel, food and fertilizer subsidies to cut its fiscal deficit. A wary government, however, said that certain levels of subsidies were unavoidable. The report goes on to add that the current deficit level of 5.1 per cent could balloon up to 6.1 per cent if nothing is done, ...
08:34 AM, Sep 29, 2012
Bharatiya Janata Party leader Arun Shourie has supported Prime Minister Manmohan Singh's decision of the diesel price hike and stays neutral on FDI in aviation and retail. Speaking to IBN18 Editor-in-Chief Rajdeep Sardesai, Shourie also said that Prime Minister should go ahead with more reforms and take decision without waiting for legislation. Shourie also pointed out that adversarial politics has been taken to an absurd level in India. "Whatever you...
12:39 PM, Sep 24, 2012
New Delhi: Bharatiya Janata Party (BJP) leader Arun Shourie on Monday said that he supported Prime Minister Manmohan Singh's decision to raise the fuel prices citing 'increasing growth deficit'. Speaking to IBN18 Editor-in-Chief Rajdeep Sardesai, Shourie said, "I personally support the hike in the prices of petroleum products. It's only when prices of fuel are increased that alternate power sources will become viable." However, Shourie blamed the Prime Minister for...
12:31 PM, Sep 24, 2012
Puducherry: Lashing out at the BJP, Minister in the PMO V Narayanasamy on Sunday said BJP had no right to criticise the hike in fuel price as during the BJP-led NDA rule, prices of diesel and petrol were hiked 27 times. "BJP's criticism of the hike in diesel price is untenable and unacceptable," he told reporters in Puducherry. Slamming the opposition parties for holding a nation-wide bandh on September 20...
07:37 PM, Sep 23, 2012
PM Manmohan Singh recently announced some major economic policy decisions allowing for 51 per cent FDI in retail, a hike in diesel prices and a cap on subsidised LPG cylinders. ...
02:00 PM, Sep 22, 2012
New Delhi: Defending the steepest ever hike in diesel price and limiting supply of subsidised LPG, Prime Minister Manmohan Singh on Friday said the nation would have faced a record Rs 200,000 crore of fuel subsidy if the government had not acted. "We import almost 80 per cent of our oil, and oil prices in the world market have increased sharply in the past four years. We did not pass...
02:31 AM, Sep 22, 2012
New Delhi: Heading a minority government after the Trinamool Congress withdrew support to the United Progressive Alliance and faced with an economy that is showing no signs of taking off, Prime Minister Manmohan Singh in an emotive address on Friday asked the nation to support his tough but unavoidable reforms measure taken over the last few days. The Prime Minister reminded the country of the 1991 economic crisis while pointing...
11:09 PM, Sep 21, 2012
New Delhi: India's nuclear operator has started loading enriched uranium fuel in the first reactor of the Kudankulam Nuclear Power Project after getting the final clearance from the Atomic Energy Regulatory Board (AERB) on Tuesday. "The fuel loading has started on Wednesday," a senior official in the nuclear establishment said. The Kudankulam nuclear plant had run into a rash of protests following concern in the local communities on safety issues...
06:26 PM, Sep 21, 2012
Madurai: After the Atomic Energy Regulatory Board (AERB) gave the green signal on Tuesday for fuel-loading in the first 1,000 MW unit of the Koodankulam Nuclear Power Plant (KKNPP), scientists started the process in the early hours of Wednesday and have completed 10 per cent of the work by Thursday evening. Highly placed sources from Nuclear Power Corporation of India Ltd (NPCIL) confirmed that the AERB has given the final...
10:20 AM, Sep 21, 2012
The Bharat Bandh called by the opposition parties over FDI reforms and fuel price hike evoked mixed response on Thursday. ...
10:14 PM, Sep 20, 2012
New Delhi: The bandh called by the BJP, Left parties and the UPA's outside supporter the Samajwadi Party (SP) to protest diesel price hike and FDI in multi-brand retail on Thursday evoked mixed response with life being disrupted in some states and their top leaders courting arrest. Protesters blocked trains and road traffic in many areas in Bihar, West Bengal, Odisha, Madhya Pradesh, Karnataka, Rajasthan, Uttar Pradesh and other places...
06:33 PM, Sep 20, 2012
New Delhi: 5:42 pm: The Trinamool Congress organised a rally in Kolkata against foreign direct investment (FDI) in retail and diesel price hike. The rally was led by Trinamool Congress MP Mukul Roy. Speaking to mediapersons, Roy said that ministers from the party would meet Prime Minister Manmohan Singh and resign on Friday afternoon. He further said that the ministers had also sought an appointment with President Pranab Mukherjee. 4:27...
08:17 AM, Sep 20, 2012
New Delhi: The nationwide protests on Wednesday against fuel price hike and FDI in retail are likely to bring life to a stand-still in major cities. The strike call has been given by both the NDA and the Third front parties. Shiv Sena, though, has opted out of it. BJP leaders have fanned out to all major cities to lead the protest. Sushma Swaraj will be in Bhopal, Nitin Gadkari...
07:32 AM, Sep 20, 2012
New Delhi: The Trinamool Congress' decision on Tuesday to withdraw support to the UPA government has made it vulnerable and more dependent on outside supporters Samajwadi Party (SP) and Bahujan Samajwadi Party (BSP) for survival, said Congress sources. Though Trinamool supremo Mamata Banerjee had been an mercurial ally, the Congress was apparently more comfortable in dealing with her than with SP and BSP, which are its electoral adversaries in Uttar...
01:27 AM, Sep 19, 2012
