-Express News Service On Wednesday, Railway Minister Dinesh Trivedi lost his job for doing what two of his immediate predecessors — one of them his own party boss — could not. After 10 years, fares of passenger trains were finally increased in the rail budget that Trivedi presented, with the aim of pumping in much-needed funds into the financially ill national transport utility. Rolled out in two forms, the “fare rationalisation” models...
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Rail Budget 2012: After a decade, all tickets to cost more
-The Times of India Railway minister Dinesh Trivedi on Wednesday did what none of his predecessors had done for almost a decade - he hiked passenger fares across the board, following up on the increase in freight charges announced immediately after the recent round of assembly elections. While biting the bullet in hiking fares, he chose to couch the increase as ranging from a mere two paise per km for second class...
More »Oil firms’ losses on fuel sales may spike next fiscal-Utpal Bhaskar
Government-owned oil marketing companies (OMCs) may witness a 52% jump in losses on account of selling fuel below cost at state-mandated prices to Rs.2 trillion in the next financial year, said R.S. Butola, chairman, Indian Oil Corp. Ltd (IOC), the nation’s largest fuel retailer. Such an increase will impact the financials of government-owned OMCs such as IOC, Hindustan Petroleum Corp. Ltd (HPCL) and Bharat Petroleum Corp. Ltd (BPCL), which currently register...
More »Petrol consumption may decelerate in FY12 by Amrit Raj
The growth rate of petrol consumption is set to fall below 5% in the current fiscal, the first time in five years. Meanwhile, the consumption of diesel continues to grow at 7%, adding to the losses of the oil marketing companies on account of subsidies. In India, diesel is subsidized while petrol is not, and the price difference has led to more buyers opting for vehicles driven by the cheaper fuel. According...
More »Let's face it... the alternatives are attractive, but not feasible by Ipshit Tarun
Renewable energy sources are attractive but in a sense, powerless. Maybe, someday we'll all live in houses with photovoltaic roof tiles but in the real world, a 1GW of solar plant will require 60 square miles of solar panels. When the demand increases, you can fire up more coal, but how will you cause the wind to blow and the sun to shine 24x7? The earth is already so disabled...
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