Good Food is First Food. It is not junk food. It is the food that connects nature and nutrition with livelihoods. This food is good for our health; it comes from the rich biodiversity of our regions; it provides employment to people. Most importantly, cooking and eating give us pleasure. …
Amid widening price difference between petrol and diesel, the Finance Ministry is looking at the possibility of raising excise duty on diesel cars, a suggestion which was mooted long back by the Oil Ministry. "Hiking excise duty on diesel cars is still on the agenda. It was not taken up …
Needed, it says, for covering its return and risks also wants govt to stick to contract on output sharing Stuck with $4.2 a million British thermal units (mBtu) price for its natural gas till 2014, Reliance Industries Ltd (RIL) has sought from the government an import-parity price for sale of …
Rangarajan to head committee, to press for revision in terms of production sharing contracts for future deals. A committee headed by C Rangarajan will review terms of the contract that oil & gas companies sign with the government, after a controversy between Reliance Industries and the oil ministry over declining …
Finance Minister Pranab Mukherjee has been deputed by the Centre to ask all states to lower sales tax or value added tax on auto fuels and to shift to specific rates in order to work out a combined package that can lower petrol prices by up to Rs 5 a …
Oil Minister says no dates fixed yet for meeting of ministerial panel to decide on rate revision Still battling the fallout of last week's steep Rs 7.54 a litre hike in petrol price, the government today said it is not considering raising rates of diesel, domestic gas (LPG) and kerosene …
India on Wednesday signed the gas sale purchase agreement (GSPA) for the Turkmenistan-Afghanistan-Pakistan-India (Tapi) gas pipeline, which upon completion would diversify its gas basket. With domestic gas output stagnating, the $7.6-billion Tapi gas project provides a ray of hope. In five years, the country would have access to imported natural …
Rates of diesel, LPG and kerosene left untouched The UPA-II, celebrating three years in office, gave the “common man” a gift on Wednesday: the steepest- ever increase of Rs. 7.54 in petrol prices. The increase is the first in the past six months. Petrol price in Delhi was increased by …
The UPA government took a bold step on the first day after its third anniversary by allowing state-run oil marketing companies to raise ex-refinery prices of petrol by a whopping Rs 6.28 per litre, the highest so far. With excise, duty and state levies, this translates to a Rs 7.5-Rs …
New Delhi: By the time you read this, the price of petrol would have gone up by more than Rs 7.50 a litre across the country. The increase, the steepest-ever, came a day after Parliament’s Budget session ended and PM Manmohan Singh talked about the need for “difficult decisions”. After …
With rupee depreciation leading to jump in oil import bill, petroleum minister S. Jaipal Reddy on Tuesday said there is an immediate need to raise fuel prices, but refused to say when the hike will actually take place. “It (price increase) is very essential but (before hiking rates) we have …
EGoM fixed the price for 5 years and it needs to decide on RIL’s revision demand, says Vahanvati The government’s top law officer has said deciding on revising the price of gas from the D6 field of the Krishna-Godavari (KG-D6) basin before April 2014 is a matter of policy, not …
The Indian government is driving the country on the road to fiscal perdition. It missed its target of fiscal deficit by a mile in the last budget. It has transparently under-provided for fuel subsidies in the budget for 2012-13, suggesting that it plans to reduce those subsidies with active measures. …
The finance ministry will release Rs 38,500 crore from the budget for cash-strapped state-run oil marketing companies (OMCs). Also, the Department of Expenditure has directed state-run upstream firms ONGC, Oil India and GAIL India to shell out an additional Rs 1,640 crore — over the Rs 53,360 crore indicated earlier …
On the face of it, the Union petroleum ministry has finally taken some action in its slow-fuse battle with Reliance Industries over the D6 block in the Krishna-Godavari basin. A long legal arbitration duel between the two parties seems inevitable (over Reliance’s failure to deliver the promised quantum of gas …
New Delhi The Cabinet on Thursday approved the purchase of natural gas from Turkmenistan through a 1700 km cross-border pipeline passing through Afghanistan and Pakistan. Petroleum and natural gas minister S Jaipal Reddy would be visiting Turkmenistan on May 23-24 to sign the Gas Sale and Purchase Agreement (GSPA). While …
The Petroleum Ministry has sought cash subsidy of Rs.49,872 crore from the Finance Ministry to compensate state-owned oil companies for selling fuel at government-controlled rates in the January-March quarter. Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation together lost Rs.1.48 lakh crore on selling diesel, domestic LPG and …
New Delhi: India will buy gas from Turkmenistan at a price indexed to fuel oil, a cheap byproduct of oil refining, instead of crude that makes imports costlier than domestic supplies. The Cabinet on Thursday approved the model agreement for buying the Turkman gas that would be wheeled across Afghanistan …
If you have multiple liquefied natural gas (LPG) connections or one along with a piped natural gas (PNG) connection, be ready to have your cylinder blocked if you do not surrender it. The three government oil marketers blocked as many as 3.8 million LPG connections by March 2012. Oil marketing …
Over concerns that paucity of natural gas would have a telling effect on the future of the electricity generation sector, the power ministry has asked project developers not to plan their gas-based projects till 2015-16. The move would likely result in power utilities bidding aggressively when coal blocks would be …
In the aftermath of the recent visit of U.S. Secretary of State Hillary Clinton and an indication of rising U.S. pressure not to deal with Iran working, the Central Government, on Tuesday, admitted that it had cut the crude oil supplies from Iran by 11 per cent to 15.5 million …
