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This extra cost is the fuel and power purchase cost adjustment (FPPCA) and includes arrears from April. FPPCA for this January could not be implemented in March because of billing issues and scarcity of time.
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Riyadh on Sunday announced it would slash output further by one million barrels per day in a bid to prop up prices, despite fears of a recession. The announcement came following a meeting of the 13-member Organization of the Petroleum Exporting Countries (OPEC) headed by Saudi Arabia and its 10 partners, led by Russia.
External Affairs Minister S Jaishankar on Tuesday said that buying Russian oil is to India's advantage and that India will continue doing that. Jaishankar's comments came after he met his Russian counterpart Sergey Lavrov in Moscow.
Gujarat-based Indian dairy state government cooperative society, Amul has hiked the price of full cream milk and buffalo milk by ₹2 per liter in all states except Gujarat, news agency ANI reported quoting RS Sodhi, MD, Gujarat Cooperative Milk Marketing Federation Limited.
In a big relief for consumers, oil marketing companies (OMCs) have slashed the prices of liquefied petroleum gas (LPG) cylinders for commercial use. According to reports, Oil Marketing Companies have reduced commercial the price of the 19-kg LPG cylinder for commercial use by Rs 91.50, effective from today, September 1, 2022.
External affairs minister S. Jaishankar said the world has somewhat accepted New Delhi's position on buying Russian oil amid Moscow's ongoing war in Ukraine, because New Delhi has not been defensive about its decision, but made other countries realize the obligation it has to its people.
On Sunday (May 8), Congress MP Rahul Gandhi, as usual, scored a political point on himself while trying to blame the Modi government for rising prices of Liquified Petroleum Gas (LPG) and increasing the price of gas cylinders in the country.
There are two kinds of lies: calumny and detraction. Calumny is a lie about somebody. This is the kind which stupid people use. Crooks use the other method, which is detraction. Detraction is not entirely a lie but half truth.
Government wheat procurement in Punjab is set to fall to a 15-year low, with private purchases likely to cross five lakh tonnes (lt) for the first time since 2007. This comes on the back of rising export and domestic market demand, fuelled by the Russia-Ukraine war, and lower crop yields due to the abnormal spike in temperatures from mid-March.
Congress leader Rahul Gandhi led a protest against fuel price hike by Congress MPs - both from Rajya Sabha and Lok Sabha - in Delhi. Gandhi, a vehement critic of the BJP-led government, has stepped up his offensive against the ruling party in the last few days amid a surge in fuel prices. The protest is being held at the iconic Vijay Chowk.
Amid speculations on petrol and diesel prices likely to witness a steep hike owing to sky rocketing crude prices, Petroleum minister Hardeep Singh Puri on Tuesday said that government will take a decision keeping in mind the interest of citizens.
As Kazakhstan went into a turmoil, Russia led troops entered Kazakhstan to help that regime. Protestors burned many buildings and killed policemen. Their initial reason to protest was price rise, which later swiftly started to look like a coup.
As the Kazakhstan crisis deepens, Russia has sent its troops to ‘help’ Kazakhstan control the situation. After the Kazakhstan president issued ‘shoot to kill’ orders, the results are as expected. Many people have lost their lives in this massive crackdown. 164 lives have been lost while over 5000 people have been detained.
After streets of Kazakhstan go up in flames due to high oil prices, Kazakhstan’s president has now ordered security forces to quell protests. He has issued, ‘shoot to kill’ orders for security forces to curb uprising. This has come after Russia announced that it will send forces in Kazakhstan to help the Kazakhstan government
Rise in fuel prices, especially LPG (liquefied petroleum gas) has resulted in massive protests across Kazakhstan. According to reports eight police and national guard troops have been killed during these protests.
An SBI report highlights that, the pan-India Prices of fuels will drop if the petrol and diesel are brought under the GST regime to Rs 75 and Rs 68 per litre, respectively. The report also adjusted for the rise in consumption.
In order to ease the concerns of people over the upward spiraling of fuel prices, Union Minister Dharmendra Pradhan said on the price will decrease as the winter season ends. Petrol will come down as the season ends.
The sudden rise in prices of grocery items has become a serious concern across the country. Many poor households, particularly daily wage-earners, are experiencing very tough times when they have no sources of income in this lockdown period.
Oil prices fell sharply on Monday after a meeting to discuss output cuts between OPEC and its allies was delayed, dimming hopes of swift action to support coronavirus-ravaged energy markets. US benchmark West Texas Intermediate plunged eight per cent at the open in Asia but clawed back some ground and was trading 5.7 percent lower, at USD 26.72 a barrel.
Waking ahead in the fifth consecutive month today, the LPG cylinder prices got hiked again this time by ₹19 a cylinder. Till December 31, a 14.2 kg liquefied petroleum gas (LPG) cylinder was priced at ₹695 in New Delhi but the rate has now gone up to ₹714. State-run fuel retailers change LPG cylinder rates every month, based on international benchmark rates.
The sky rocketing price of onions across various Indian cities has caused concerns among people while also the Finance Minister's comments on the Egyptian onions made people wrongly think over for the insesitivity of the government. From Rs 60 per kg in September, the price of onions increased to almost Rs 160 per kg, close to three times. To deal with the crisis government is importing onions from countries like Turkey and Egypt.
Making all efforts to ensure that prices of Onions are moderated across the nation, the Union Minister of Consumer Affairs, Food and Public Distribution Ram Vilas Paswan said that prices of Onions are a cause of concern to the government and the situation is being closely monitored by a team of five Union Ministers chaired by the Home Minister which has already held one meeting and another one will be held soon. Cabinet Secretary and a Committee of Secretaries are also keeping an eye on the situation and su
"India will honour contractual commitments under various energy agreements especially in renewables and investors need not worry about this issue", said Finance Minister Nirmala Sitharaman on Monday while addressing a forum in the national capital.
Up ahead in the drone attack on the world's largest oil processing facility in Saudi Arabia and a major oil field on Saturday, the global oil prices have surged the most on record.
For all the domestic gas consumers in India, you all have some good news. Reducing rates of the gas cylinder prices, the Indian Oil Corporation announced that the price of non-subsidised LPG cylinder has been cut by 62 rupees 50 paise per cylinder based on softening international rates.
For all the domestic gas consumers in India, you all have some good news. Reducing rates of the gas cylinder prices, the Indian Oil Corporation announced that the price of non-subsidised LPG cylinder in Delhi has been cut by Rs one hundred rupees and 50 paise per cylinder.
After the inside story of the Consumer Price Index based retail inflation went out in open, the Wholesale price based inflation has slipped to 22 month low at 2.45 per cent in May aided by falling prices of food articles, fuel and power items.
With over 460 million internet users, India is the second largest online market, Ranked only after China. By 2021, there will be about 635.8 million internet users in India.
The very economical aspect directly affecting the end consumer in the nation can be nothing but the crude oil prices as directly linked to them. The issue of rising prices of petroleum products is a burning topic in an energy-guzzling country like India. With each passing year, oil seems to play an even greater role in the global economy as well.
The metro cities in the nation witnessed the fall in the prices of petrol and diesel in the last week of 2018, marking the decline to be lowest of all the falls of 2018 till date. Petrol prices on Sunday were cut by 22 paise per litre, whereas the diesel rates were cut by 23 paise to a nine month low.
The annual rate of inflation, based on monthly Wholesale Price Index, stood at 4.64% for the month of November, 2018 as compared to 5.28% for the previous month. It was 4.02% during the corresponding month of the previous year. According to the government data released today, food articles witnessed softening of prices with deflation at 3.31 per cent in November, against 1.49 per cent in October.
For all the domestic gas consumers, you all have a reason to smile. Reducing rates of the gas cylinder prices, the Indian Oil corporation announced that the price of subsidised LPG cylinder in Delhi will decrease by Rs 6.52 from tomorrow. The price of non-subsidised LPG cylinder in Delhi has also been cut by Rs 133.00 per cylinder.
The Rafale Jet price ‘war’ between the ruling NDA government headed by Narendra Modi and his ‘obsessive’ Opposition led by Rahul Gandhi has pushed it into the court of law.
Coming up with challenges pertaining to the oil prices and increasing fuel price in India, Prime Minister Narendra Modi met CEOs and Experts from the Oil and Gas sector, from both India and abroad. Interacting with the experts, PM Modi discussed ways in expansion of oil and gas infrastructure in India; enhancing exploration and production; potential in solar energy and biofuels.
India's economy continues on a robust growth path, the Asian Development Bank (ADB) said Wednesday while maintaining the growth forecast for the current fiscal at 7.3%.
India’s annual inflation based on wholesale price index (WPI) had eased to a four-month low of 4.53 percent in August on softening of prices of food articles, especially vegetables. According to the government data, The annual rate of inflation, based on monthly WPI, stood at 4.53% (provisional) for the month of August, 2018 (over August, 2017) as compared to 5.09% (provisional) for the previous month and 3.24% during the corresponding month of the previous year. Build up inflation rate in the financial yea
In a bid to ensure remunerative prices to the farmers for their produce, PM Modi-led centre has approved a new Umbrella Scheme ‘Pradhan Mantri Annadata Aay SanraksHan Abhiyan’ (PM-AASHA). Notably, giving a major boost to the pro-farmer initiatives of the Government and in keeping with its commitment and dedication for the Annadata, the Union Cabinet chaired by PM Modi has approved a new Umbrella Scheme “Pradhan Mantri Annadata Aay SanraksHan Abhiyan’ (PM-AASHA). The Scheme is aimed at ensuring remunerative
Prime Minister Modi and the BJP squarely must accept the responsibility and accountability for losing political credibility among voters.
Vasundhara Raje-led government has brought a massive relief to the people of Rajasthan by slashing the prices of petrol and diesel. Notably, Rajasthan CM Vasundhara Raje on Sunday announced a whopping 4 percent reduction in a VAT (Value Added Tax) on the prices of petrol and diesel. After the reduction of VAT, the prices of petrol and diesel will go down by 2 rupees 50 paise per litre in the state. The revised rates came into effect from Sunday midnight. The decision will cost the exchequer 2,000 crore rupe
To ensure the quality of generic medicines at affordable prices in the country, Minister Mansukh Mandaviya listed the number of measures taken by the government on Tuesday. In a written reply to Lok Sabha, Minister Mansukh Mandaviya stated that drugs manufactured in the country, irrespective of whether branded or generic, are required to comply with the same standards as prescribed in the Drugs and Cosmetics Act, 1940 and Rules made thereunder for their quality.
The retail price of compressed natural gas (CNG) and industrial price of piped natural gas (PNG) in Gujarat has been hiked by Rs 1.10 per kg and Rs 1.75 per standard cubic meter (SCM) respectively. Notably, the increased price of CNG and PNG came into effect from Wednesday.
Amidst continuous hike in fuel prices, on Friday the prices for LPG cylinder got increased by Rs 2.34 and Rs 48 for subsidised and non-subsidised cylinders respectively. However, the increase in the price of LPG cylinder has given a major blow to common people who were already burdened with high fuel prices. The new price for subsidised (Rs./14.2 Kg) cylinder in Delhi is Rs 493.55, while that of non-subsidised cylinder is Rs 698.50.
India’s annual inflation based on wholesale price index (WPI) had eased to 2.47% in March 2018. The fall was propelled by the cheaper rate of food articles, the government data stated today.
Wholesale inflation down to a six-month high of 2.84 percent in January this year, as prices of food articles, declined. The previous low level was recorded in July at 1.88 percent.
The economic revival is the greatest achievement of PM Modi’s government. The Country's exports grew by 12.36 percent in December, 2017 to 27.03 billion US dollars on account of strong performance by sectors like engineering goods and petroleum products.
Wholesale inflation rose to a 6-month high of 3.59 percent in October this year, as prices of food articles, led by onions and vegetables, climbed. Inflation based on the Wholesale Price Index had stood at 2.6 per cent in September this year, and 1.27 percent in October last year.
Wholesale inflation fell to 2.60 per cent in September as prices of food articles, led by vegetables, softened. Inflation, based on the wholesale price index, WPI, had soared to a four-month high of 3.24 per cent in August 2017.
Madhya Pradesh has become the third state to slash VAT on petrol and diesel, accepting the Centre's request after Gujarat, Maharashtra and Himachal Pradesh. Madhya Pradesh’s Shivraj Government has reduced 5% VAT on diesel and 3% on petrol. He added that the new prices will come into effect from midnight. The Centre had urged the States to recude VAT for the benefit of customers.
After Gujarat and Maharashtra, Himachal Pradesh government on Tuesday announced to reduce value-added tax (VAT) on the prices of petrol and diesel by 1%. However, this will bring some relief to the people of Himachal but the decision taken from Congress government is to seek full advantage and votes as polls are likely to be held at the end of this year.
The state government brings acche din for all the common people of Gujarat by slashing the prices of petrol and diesel. Notably, giving a major relief to all the peoples of Gujarat, the state government announced a whopping 4 percent reduction in VAT (Value Added Tax) on petrol and diesel.
