Fuel prices may soon be cut by Rs 4-5 in most parts of the country, if the central government goes ahead with a plan that involves a marginal cut in the excise duty on the fuel, and provided it is successful in its efforts to convince states to cut the Value Added Tax on fuel and oil marketing companies to take a cut in their commission on sales.
Congress president Rahul Gandhi on Wednesday slammed the one paisa cut in fuel prices, saying if this was Prime Minister Narendra Modi’s idea of a “prank”, it was “childish and in poor taste”.
The retail prices of petrol and diesel eased a bit on Tuesday, a day after rising for the 16th straight day to touch a new high, fuelling more resentment and anxiety among consumers across India. Apart from a token cut in the excise duty rates, the government has so far adopted a wait-and-watch approach to an issue that has serious economic and political consequences.
India faces a copper supply shock after the Tamil Nadu government ordered billionaire Anil Agarwal’s Vedanta Ltd. to shut down a plant permanently, following deadly protests in a move that will slash nationwide output and stoke demand for imports.
Mohammad Javad Zarif, Iran’s foreign minister, will hold discussions with his Indian counterpart Sushma Swaraj on Monday as the two countries look at the fallout of the United States pulling out of a nuclear deal with Tehran and a fresh round of sanctions against the country, officials said.
“When a network of good roads is created then the economy of the country also picks the pace,” Prime Minister Narendra Modi said in August 2017 at a ceremony to lay the foundation stone for a national highway project in Udaipur.
Eight minutes and 20 seconds. That’s how long it takes for sunlight to travel to Earth. And India has never been better prepared to receive it.
Russian Gas Giants Look To Expand In India As New Delhi, Moscow Ramp Up Efforts To Strengthen Energy Ties
Russian gas giant Gazprom and oil major Rosneft were looking to expand their presence in India as the two countries step up efforts to strengthen energy cooperation, officials familiar with the developments said on Tuesday.
Prime Minister Narendra Modi and the rupee face a similar predicament — old foes have re-emerged to keep them in check.
The Indian Railways has imposed speed restrictions of 30kmph to 50kmph along several stretches of tracks in the Northeast to ensure that trains don’t crash into elephants.