Rising fuel prices and waning business activities in the region has begun haunting the ruling Bhartiya Janta Party (BJP) ahead of the assembly elections with industrialists blaming the government for not fulfilling the promises and ignoring small scale industries.
Rising fuel prices and slump of the rupee are among a host of reasons for the ‘crisis-like’ situation of the Indian economy. This view emerged during an interactive session organised by the Bengal Chamber of Commerce and Industry and The Economic Affairs Committee on “Current Economic Realities” here yesterday.
The price of diesel continued its upward march on Wednesday and witnessed a hike of 24 paise in the national capital, while the price of petrol remained the same. After the revision in prices, diesel is being sold at Rs 74.35 per litre
The excise duty cut on petrol and diesel is credit negative for India as it will reduce government revenue and increase fiscal deficit by 0.1 per cent to 3.4 per cent of GDP in the year ending March 2019, Moody’s Investors Service said on Tuesday.
Fringe group Hindu Makkal Parishad launched a protest against fuel price hike outside district collector’s office in Chennai. An activist marched on a horse to submit petition against the Centre and also Tamil Nadu government.
Oil minister Dharmendra Pradhan on Monday said there was no question of going back on deregulation of fuel pricing despite the government asking state-owned firms to subsidise petrol and diesel by Re 1 per litre.
Is National Democratic Alliance – 2 (NDA-2) under Narendra Modi repeating the mistakes of NDA-1 under Atal Bihari Vajpayee in the oil sector? Sharp cuts in petrol and diesel taxes were announced last Friday (5 October),
The recent cut in petrol and diesel prices by Rs 2.50 by the Centre is estimated to reduce the combined EBITDA margins of IOCL, HPCL and BPCL by Rs 6500 crore during current fiscal, rating agency Moody’s said Monday.
If Life Insurance Corporation of India (LIC) is willing to dish out more than ₹20,000 crore to bail out IDBI Bank Ltd, what is a few thousand crore rupees shared by three large oil marketing companies (OMCs) to help the government lower fuel prices? Apparently, it’s worth a lot.
Congress-ruled Punjab has refused to toe the line of BJP-ruled states on fuel price cut. On Thursday, Union finance minister Arun Jaitley had announced that the Centre had slashed excise duty on petrol and diesel by ₹ 1.5 per litre