Even as the clamour grows for a cut in central excise duty to bring down skyrocketing petrol and diesel prices, the oil marketing companies (OMCs) seem to have got the most bang for their buck ever since the Modi government came to power.
There is no question in the minds of the international community that steel consumption is bound to grow in India, for it is clear that the present generation already demands a better quality of life and the next generation certainly will.
Beefed up by strong set of numbers for the previous quarter and rising steel prices, JSW Steel yesterday announced that it will hike up its steel capacity by 37 per cent in the next two years. Clearly, it does not intend to relinquish its position as India’s largest steel maker to Tata Steel.
Finance ministry officials are feeling the heat and not just because of the summer. India imported 18.7 million tonne (MT) of crude oil in March at an average price of $63.8 per barrel while it was $63.54 per barrel in February.
India’s infrastructure growth slowed to a three-year low of 4.2 per cent in the fiscal year ending in March, indicating Prime Minister Narendra Modi faces a tough challenge to boost investment ahead of general elections due early next year.
If you think the rising trend in oil prices is going to stop anytime soon, think otherwise.
Petrol price surged to a 55-month high yet again on Sunday to touch Rs 74.40 a litre in the national capital, while diesel price soared to a new all-time high of Rs 65.65, just three days after prices of both the fuels touched record levels.
The Income Tax Department has seized a further Rs 440 crore of dividend income due to Cairn Energy Plc to recover a part of the Rs 10,247 crore tax demand it had raised on the British firm using a retrospective tax legislation.
Karnataka’s solar photovoltaic (PV) capacity crossed the 5GW mark in the first quarter of 2018 to transform it into India’s top solar PV state, according to Mercom’s India Solar Project Tracker.
Integral Coach Factory, one of the earliest production units of independent India, is now gunning for a hat-trick.