New Delhi: Still battling the fallout of last month's steep Rs 7.54 a litre hike in petrol price, the government on Friday said it is not considering raising rates of diesel, domestic gas (LPG) and kerosene for the moment. "I will only say there is no thinking on this matter. No date for meeting of Empowered Group of Ministers (EGoM) has been fixed," Oil Minister S Jaipal Reddy told reporters...
05:22 PM, Jun 08, 2012
New Delhi: Concerned over high service tax substantially raising air ticket prices, Civil Aviation Minister Ajit Singh has urged Finance Minister Pranab Mukherjee to revert to the earlier rates which were capped at Rs 100 and Rs 500 per domestic and international ticket. Noting that jet fuel prices in India were significantly higher than in most parts of the world due to high tax rates, he has also strongly advocated...
05:17 PM, Jun 06, 2012
New Delhi: Commerce and Industry Minister Anand Sharma on Tuesday joined Rural Development Minister Jairam Ramesh in the chorus against subsidy on diesel used in luxury vehicles. "If I can afford...should a BMW or a SUV (sports utility vehicle) owner get the same (subsidy)? My answer is no," Sharma told reporters. He further said subsidy on diesel should be given only to the poor and weaker sections. "All the subsidy...
05:49 PM, Jun 05, 2012
New Delhi: The civil aviation ministry has proposed slashing state taxes on jet fuel, which may significantly bring down costs for ailing local airlines that are reeling under a debt load of $20 billion and annual losses of $2 billion. The ministry has sought opinion from stakeholders on reducing state taxes on jet fuel to a uniform 4 per cent, according to a discussion paper posted on its website. Different...
08:05 PM, Jun 04, 2012
A day before Foreign Minister SM Krishna's trip, Beijing issued an advisory against travel to India citing protests over the fuel price hike, after New Delhi warned traders against business in Yiwu. ...
02:26 PM, Jun 04, 2012
Beijing: In what is being seen as a tit-for-tat move, China has cautioned its citizens against travelling to India following protests over the increase in petroleum prices, after New Delhi issued advisories warning its traders against doing business in the Chinese commodity hub of Yiwu. An advisory has been posted on the Chinese Foreign Ministry website as well as Chinese Embassy in New Delhi dated June 1 which warned about...
12:31 PM, Jun 04, 2012
New Delhi: It had been another brutal day for the rupee on the foreign exchanges as India's economic crisis escalated and, travelling home from a visit to Myanmar last week, Prime Minister Manmohan Singh summoned journalists on his plane for a briefing. The one statement he had prepared for the media that night, however, concerned allegations of corruption levelled against him and his cabinet ministers - not the economy. Quizzed...
09:02 AM, Jun 04, 2012
The Prime Minister's Chief Economic Advisor Dr C Rangarajan has admitted that a hike in diesel and LPG prices is imminent despite a steep hike in petrol prices last week. While speaking to Karan Thapar on 'Devil's Advocate', Dr Rangarajan said the government can soften the blow but fuel price hike is the need of the hour to contain the fiscal deficit. Karan Thapar: Hello and welcome to the Devil's...
12:01 PM, Jun 03, 2012
New Delhi: The price of petrol which has come down to 71.16 per litre Delhi could further decrease by 92 paisa when a proposal by the Delhi government to cut VAT on increased component of the fuel comes into effect. Following the announcement of the reduction by the Oil companies, petrol price has come down by Rs 2.02 per litre from Rs 73.18. Petrol would cost Rs 70.24 when the...
08:49 PM, Jun 02, 2012
On this episode of Overdrive, we bring to you ten tips to save fuel while driving a bike and much more. ...
07:08 PM, Jun 02, 2012
New Delhi: In what comes as a relief to the common man, petrol prices will be cut by Rs 2 per litre with effect from Saturday midnight. Speaking to CNN-IBN, Minister of State for petroleum, RPN Singh, said that the oil companies were giving back their gain to the people by slashing the price. "Oil companies are giving back their gain to the people by slashing prices by Rs 2....
05:46 PM, Jun 02, 2012
New Delhi: The Prime Minister's Chief Economic Advisor Dr C Rangarajan has admitted that a hike in diesel and LPG prices is imminent despite a steep hike in petrol prices last week. While speaking to Karan Thapar on Devil's Advocate, Dr Rangarajan said the government can soften the blow but fuel price hike is the need of the hour to contain the fiscal deficit. Here's an excerpt of the interview:...
07:17 AM, Jun 02, 2012
New Delhi: Auto sales in India moderated in May with the country's largest car makers Maruti Suzuki, General Motors, Ford and TVS Motor posting declines in their numbers due to post-Budget price hikes, high interest rates and rising fuel prices. Hyundai Motor, Tata Motors and Mahindra & Mahindra, however, witnessed sales going up. During the month, the country's largest two-wheeler maker Hero MotoCorp registered its highest ever monthly sales. Maruti...
09:38 PM, Jun 01, 2012
New Delhi: Petrol prices may be revised on Friday with companies talking about a scope of cutting rates by Rs 1.50-1.60 a litre. BPCL CMD RK Singh said on Thursday that prices could be cut by 1.5 to 2 rupees a litre if there is a drop in international crude prices. Indian Oil, Hindustan Petroleum and Bharat Petroleum had over the past one week indicated of a scope of reducing...
08:36 AM, Jun 01, 2012
New Delhi: Petrol prices may be revised on Friday with companies talking about a scope of cutting rates by Rs 1.50-1.60 a litre. On a day when BJP-led NDA and the Left parties called a Bharat Bandh against petrol price hike, the government appeared in no mood to announce a cut. "To my mind, there will be no revision in rates tonight," a senior official at one of the three...
09:45 PM, May 31, 2012
New Delhi: A united opposition on Thursday enforced Bharat Bandh to protest against petrol price hike. Several states especially those ruled by the NDA witnessed total shutdown with offices closed, markets wearing a deserted look along with major disruptions in train and road traffic. The Delhi-Howrah train route was the worst hit. Violence was also reported from some area although there have been no reports of any major clash or...
05:39 PM, May 31, 2012
There has been a lot of political uproar over the recent petrol price hike since a week. But there could be some talk of rolling petrol prices back partially. It may be recalled that last week, oil marketing companies announced an 11 per cent hike in petrol prices to cut down their losses of around Rs 6-8 which they incurred on selling petrol. However, the hike didn't go well with...
12:40 PM, May 31, 2012
Chennai: After West Bengal Chief Minister Mamata Banerjee, another UPA ally, the DMK will protest against the petrol price hike on Wednesday. DMK chief M Karunanidhi will be leading the state-wide protest from Saidapet. The protest comes two days after the ruling AIADMK held a similar agitation demanding a rollback. The demonstration will also be targeting the state government for not rolling back the hike in milk prices, power tariff...
07:19 AM, May 30, 2012
Chennai: Tamil Nadu Chief Minister J Jayalalithaa has said that the shortage of petrol and diesel in the state capital would end by Tuesday evening. After chairing a high-level meeting, Jayalalithaa said three ships carrying 67,000 kilo litres of diesel and petrol from Kochi arrived at Chennai port this afternoon. Efforts were being made to distribute this stock to the bunks of Bharat Petroleum, Indian Oil Corporation and Hindustan Petroleum...
04:25 PM, May 29, 2012
Chennai: Just days after the Rs 7.50 per litre petrol price hike, there now seems to be a shortage of petrol in Chennai. Most of the petrol pumps in the city are running dry and the few that are open are witnessing massive crowds with people queuing up with cans and bottles to get petrol. While the petrol pump associations are blaming oil companies for not supplying enough fuel, oil...
03:21 PM, May 28, 2012
