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1 day ago
Odisha slashes bus fares

Bhubaneswar, July 2 (IANS) After a marginal fall in diesel price, the Odisha government on Thursday reduced the bus fare by 1-2 paise under the automatic fare revision mechanism. While the fare of ordinary and express buses have been reduced by one paisa, those of deluxe and AC deluxe buses have been cut by two paise, an official statement said. The oil marketing companies on Jun...

18 days ago
Transport fuels likely to cost more

New Delhi, June 15 (IANS) After two substantial hikes in transport fuels last month, state-owned oil marketing companies (OMCs) are likely to increase petrol and diesel rates this week. The three state-run OMCs review prices of diesel and petrol every fortnight, depending on global oil prices and currency movements. According to Indian Oil, it had to raise prices last month due t...

1 month ago
25 achievements, 25 challenges (To Go With: Return of 'feel good factor' for Indian econo

The following are a set of 25 key achievements of Prime Minister Narendra Modi government in the past one year, as listed by stakeholders and analysts, and an equal number of challenges that need to be addressed: The Journey So Far: - Jan Dhan Yojana: More than 15 crore bank accounts opened, over 10 crore RuPay debit cards issued, with life cover, pension - Corporate sect...

1 month ago
BJP's communal agenda has come true in one year: CPI-M

New Delhi, May 17 (IANS) The CPI-M said on Sunday that all the fears about the Bharatiya Janata Party's (BJP) communal agenda has come true within one year of it taking power in the country. It said in a statement that ever since Narendra Modi became the prime minister in May 2014, there had been growing communal polarisation as well as growing economic burdens on the people. Al...

1 month ago
Odisha bus owners threaten strike demanding fare hike

Bhubaneswar, May 16 (IANS) The Odisha Private Bus Owners' Association on Saturday threatened to go on an indefinite strike from June 5 if the state government does not formulate a mechanism for automatic fare adjustment with the increase of fuel price. The association said if the government failed to fulfill its demands, it will resort to an indefinite stir from June 5. The trans...

1 month ago
Congress slams fuel price hike, demands rollback

Lucknow, May 16 (IANS) The Uttar Pradesh unit of the Congress on Saturday reacted sharply to the hike in petrol and diesel prices and slammed the Narendra Modi-led central government for adding more burden on the common man. Transport fuel prices were hiked effective Friday midnight by Rs.3.13 per litre for petrol and by Rs.2.71 a litre for diesel, including state levies, state-owned oil...

1 month ago
Petrol, diesel price hiked

New Delhi, May 15 (IANS) Transport fuel prices were hiked effective Friday midnight by Rs.3.13 per litre for petrol and by Rs.2.71 a litre for diesel, including state levies, state-owned oil marketing companies (OMCs) said on Friday The rates were last increased on May 1 by Rs.3.96 per litre for petrol and by Rs.2.37 a litre for diesel. Indian Oil Corporation (IOC) has decided to...

1 month ago
'Government should reduce financial burden on oil firms'

New Delhi, May 8 (IANS) With lower global crude oil prices affecting oil companies' margins, the government needs to reduce the subsidy burden on state-run explorers ONGC and Oil India, ratings agency Fitch said on Friday. We expect the government to intervene to reduce this financial burden on the state-upstream companies in light of the significantly low oil prices, which should ease p...

2 months ago
Tamil Nadu parties attack NDA's 'anti-people' oil pricing policy

Chennai, May 1 (IANS) Leaders of different political parties in Tamil Nadu on Friday condemned the steep rise in petrol and diesel prices terming it an anti-people pricing policy of the National Democratic Alliance (NDA) government. The government-owned oil marketing companies increased the prices of petrol by Rs.4.18 and diesel by Rs.2.25 per litre on Thursday. Condemning the pr...

2 months ago
Amit Shah reminds Congress of its list of scams

Jaipur, April 25 (IANS) BJP president Amit Shah on Saturday criticised the opposition, mainly the Congress party, for describing the Modi-government as pro-corporate despite it contributing about Rs. 2 lakh crore to the government treasury. Addressing a BJP workers' meet here, Shah said: Congress again and again calls us a pro-corporate government, may I remind them that coal, 2G and CWG...

2 months ago
Fitch rates BPCL bond as anticipated

Mumbai, April 22 (IANS) International ratings agency Fitch gave Bharat Petroleum Corporation's (BPCL) proposed $2 billion medium-term bond issue an anticipated rating of 'BBB-' on Tuesday. The Indian government's 54.9 percent ownership in BPCL has been described as the key rating driver. Fitch matched BPCL's rating with that of India on its parent and subsidiary linkage criteria. ...

2 months ago
Reliance to restart all petrol pumps by fiscal end

Mumbai, April 18 (IANS) Reliance Industries, the $66-billion oil refining to retail trade giant, hopes to re-start by the end of this financial year all its 1,400 retail outlets to sell petroleum fuels. In a presentation on the company's corporate results for the financial year ended March 31, 2015, Reliance Industries said it has already re-started 320 ot its petrol-diesel pumps, follow...

2 months ago
World Bank pegs India's growth at 8 percent next fiscal

Washington, April 14 (IANS) The World Bank has forecast India's growth accelerating to 8 percent in the next fiscal and said the country is well-placed in a region that has not only logged the highest economic expansion but would benefit the most from cheaper oil bill. According to the bank's South Asia Economic Focus report, which is released twice a year, the exports sector in the regi...

3 months ago
Automobile sales mark healthy growth in 2014-15

New Delhi/Chennai, April 1 (IANS) Despite high fuel and interest costs, automobile manufacturers closed 2014-15 on a positive note with major companies reporting sales growth during the fiscal ended March 31. Total sales of India's largest passenger car manufacturer Maruti Suzuki grew by 11.9 in 2014-15 and stood at 1,292,415 units from 1,155,041 units sold in the previous fiscal.

3 months ago
Mahindra's 2014-15 sales down 8 percent

New Delhi, April 1 (IANS) Automobile major Mahindra and Mahindra (M&M) Wednesday reported a decline of eight percent in its total sales for 2014-15, which stood at 464,848 units from 507,176 units sold in the previous fiscal. According to the company, domestic sales during the year ending March 31, 2015, decreased by nine percent at 434,652 units from 477,517 units in 2013-14.

3 months ago
Tobacco, fuel to be dearer in Meghalaya

Shillong, March 18 (IANS) Tobacco, petroleum and limestone are set to become more expensive in Meghalaya as the Congress government levied fresh taxes on them in order to generate additional revenue of Rs.30.91 crore annually. Presenting a Rs.819 crore deficit budget for 2015-16 in the state assembly on Wednesday, Chief Minister Mukul Sangma, who also holds the finance portfolio, said he...

3 months ago
Lower fuel prices bring down India's wholesale inflation further

New Delhi, March 16 (IANS) India's annual rate of inflation, based on wholesale prices, declined further to (-) 2.06 percent for February from (-) 0.39 percent for the month before thanks to a 14.72 percent drop in the index for petroleum fuels and power, official data showed Monday. Among the other two major indices, the index for primary articles rose marginally 1.43 percent and that f...

3 months ago
Lower fuel prices bring down India's wholesale inflation further

New Delhi, March 16 (IANS) India's annual rate of inflation, based on wholesale prices, declined further to (-)2.06 percent for February from (-)0.39 percent for the month before thanks to a 14.72 percent drop in the index for petroleum fuels and power, official data showed Monday. Among the other two major indices, the index for primary articles rose marginally 1.43 percent and that for...

4 months ago
'India has turned carbon subsidy regime into carbon taxation'

New Delhi, Feb 27 (IANS) India has managed to turn a carbon subsidy regime into a carbon taxation one by cutting subsidies and increasing taxes on fossil fuels such as petrol and diesel, the Economic Survey for 2014-15 said Friday. This has significantly increased petrol and diesel prices while serving as a price signal to reduce fuel burnt and hence CO2 emissions, the survey, which was ...

4 months ago
Former railway ministers unimpressed by Prabhu's budget

New Delhi, Feb 26 (IANS) Suresh Prabhu's maiden railway budget Thursday failed to impress six of his predecessors in the ministry, who called the proposals repetitive, just an idea and even anti-people. Pawan Bansal, Prabhu's immediate predecessor, said the National Democratic Alliance government's railway budget only repeated the proposals put forth in the documents placed in the previo...

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