The chairman of the country’s largest oil marketing firm believes that the government’s Budget proposal to merge all state-owned energy firms into a consolidated giant will help them enhance their position in the international market.
Though the government plans to merge state-run oil companies to create a behemoth t o take on competition from overseas integrated players
The government will not let inflation dilute the effect of its planned doubling of farmers’ income in five years and will keep an eye on the effective tax rate of large companies for tax rate adjustments,
Finance Minister Arun Jaitley’s proposal to phase out FIPB [Foreign Investment Promotion Board] in the 2017 Union Budget will boost the domestic economy and promote inflow of foreign direct investment (FDI) in the country
It is a mixed bag because there are opportunities and there are some misses as well. In so far as opportunities are concerned, I think the theme
The two new strategic oil facilities announced at Odisha and Rajasthan are in addition to the three facilities that already exist in the country as underground storages in rock caverns at Visakhapatnam (1.33 million tonnes), Mangalore (1.5 MT) and Padur (2.5 MT).
Union petroleum minister Dharmendra Pradhan said the move to create two new strategic oil storage will enhance India’s energy security “taking our strategic reserve capacity to 15.33 MMT.” This, he said, will increase India’s oil storage capacity to meet the consumption requirement of about 90 days which is at par with the international benchmarks.
Key Features Of Budget 2017-2018
In order to achieve the 175 GW clean energy target by 2022, the government’s clean energy initiatives will have to bear fruits in financial year 2018.
S N Subrahmanyan, the president of L&T has a surprising suggestion for the government for the upcoming Budget -“be conservative“.
In its two-year report card, the Narendra Modi government had claimed credit for fewer rail accidents and lower casualties. This time, railway minister Suresh Prabhu may paper over the transporter’s safety record. His officers are themselves surprised over three major accidents in a span of two months, which have claimed close to 190 lives, compared to 309 in 2015-16.