New Delhi, With passenger fares on a freeze for years and little money to expand the world's second largest railroad network under a single management, Minister Dinesh Trivedi has an unenviable task when he presents the annual Railway Budget on March 14. Poor financial management over the past few years has left Indian Railways staring at an earnings shortfall of Rs.7,000 crore despite gross budgetary support of Rs.20,000 crore last...
02:10 PM, Feb 13, 2012
Mumbai: Despite reporting nearly Rs 40-crore loss in the December quarter due to a 90 per cent spike in fuel costs, no-frills carrier SpiceJet on Monday ruled out increasing fares. "We are not looking at increasing our fares now, as the market dynamics does not allow us that. Also, we are confident of improving earnings going forward, and we hope to improve our revenues further from the 41 per cent...
11:13 PM, Feb 06, 2012
New Delhi: The Railways appears to have firmed up plans to raise passenger fares in AC classes in face of depleting financial resources and little options available to generate funds. As pressure is mounting on it from various quarters including the Finance Ministry and the Planning Commission to raise fares untouched for last eight years, the Railway Board is understood to be preparing a blue print for a possible fare...
09:20 AM, Jan 29, 2012
BANGALORE: The Bangalore Electricity Supply Company (BESCOM) is preparing to file another tariff hike proposal before the Karnataka Electricity Regulatory Commission (KERC) by the end of this month. We will be filing a tariff hike proposal but the exact dates and amounts have not been fixed yet, said P Manivannan, managing director, BESCOM. He, however, added that the expected hike requested would be somewhere in the range of 50 paise....
08:24 AM, Jan 19, 2012
New Delhi: Country's largest car maker Maruti Suzuki India (MSI) today said it is considering increasing prices of its products from next week to offset the impact of rupee depreciation. "We will announce the price increase next week of all our products, it will be estimating to mitigate the impact of rupee depreciation and high input cost," MSI Managing Executive Officer (Sales and Marketing Mayank Pareek told reporters at the...
01:15 PM, Jan 05, 2012
Mumbai: Maharashtra's state Election Commission on Tuesday significantly enhanced the expense limits for the forthcoming civic, zila parishad and gram panchayat elections. The decision was announced by state election commissioner Neela Satyanarayan after she announced the schedules for the zila parishad and gram panchayat (Feb 7) and civic bodies poll (Februry 16), across the state. For the A-grade Brihanmumbai Municipal Corporation (BMC), the expense limit has been hiked from Rs...
02:32 AM, Jan 04, 2012
Too many people have slipped while trying to predict oil prices. From where we stand now, it is unlikely that petrol prices will reach Rs 100/litre anytime in the next four or five years. The situation could change if the government takes the drastic measure of de-controlling diesel prices. Diesel is currently subsidised and the price is artificially kept lower than petrol. It is unlikely that such a step will...
12:47 PM, Jan 03, 2012
New Delhi: Petrol prices will not be raised this fortnight as state-owned oil firms apparently could not get political clearance for the over Rs 2 per litre hike in rates needed to achieve parity with the imported cost on account of the weakening rupee. Indian Oil (IOC) and other state-run firms, which had last month refrained from hiking petrol prices as the government was wary of protests while Parliament was...
06:20 PM, Jan 02, 2012
New Delhi: Oil companies will meet on Monday to revise rates of petrol because of the weakening rupee. But any hike will need a political clearance given that Assembly Elections in five states are around the corner. A hike of about Rs 2.10-2.13 per litre in petrol price is likely. State-owned oil companies, as per practice, revise rates of petrol on 1st and 16th of every month based on the...
07:21 AM, Jan 02, 2012
New Delhi: Passenger car makers offered huge discounts in December, as much as Rs 60,000-70,000, to attract buyers, in what has been a year full of speed breakers for the industry. But if you haven't bought your car yet, get ready for price hikes from January. Many car makers out there, Indian and multi-national, have announced price hikes in the range 1-3 per cent from January 1. December is typically...
10:28 AM, Jan 01, 2012
New Delhi: The new year could be beginning with a Rs 2 fuel price hike. Oil companies will be meeting on Monday to revise rates of petrol but would need a political clearance given that Assembly elections are round the corner. Experts say a hike of over Rs 2 is needed because of the weakening rupee. A hike of about Rs 2.10-2.13 per litre in petrol price is needed because...
08:13 AM, Jan 01, 2012
New Delhi: The price of compressed natural gas (CNG) has been hiked by Rs 1.75 per kg in the national capital with effect from Friday midnight, mainly on account of rupee depreciation against the US dollar. Indraprastha Gas Ltd, which sells CNG to automobiles and piped cooking gas to households in Delhi and neighbouring towns, said the new prices would be effective from Friday midnight. "The revision in prices would...
01:41 PM, Dec 30, 2011
New Delhi: Auto major Mahindra & Mahindra today said it will hike prices of its sports utility vehicle XUV500 by up to Rs 55,000 with effect from January 1 on account of the falling rupee and rising input costs. The company will restart bookings of the SUV, which was stopped in October, from next month. "This price rise has been necessitated as the launch price was an introductory invitation price...
01:10 PM, Dec 29, 2011
New Delhi: Petrol price may be hiked by about a rupee per litre from next month as the Indian currency has weakened against the US dollar making imports costlier. The rate change may, however, need a political clearance as assembly elections in five crucial states, including Uttar Pradesh and Punjab, have been announced. "While international price of gasoline (against which domestic petrol prices are benchmarked) are more or less at...
10:42 AM, Dec 25, 2011
New Delhi: Luxury car maker Audi India is understood to have finalised an increase in prices of its entire range of models, mainly due to falling rupee and rising input costs in the recent months. According to sources, the company has decided to increase the prices by 1-2 per cent from early next year. "The falling rupee and rising input costs have impacted the firm. The pressure on margins of...
01:40 PM, Dec 24, 2011
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