-The New Indian Express Which means sometime last year, when crude was averaging $25 a barrel, petrol should have sold for Rs 50 a litre. Nearly two-and-a-half years ago, when global crude oil prices were around $75 a barrel, petrol was selling at Indian pumps for Rs 75 a litre. Today, when crude oil prices have fallen to $52 a barrel, Petrol Prices have hit an all-time high of Rs 86 or...
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India to save Rs 35,758 crore on key fuel subsidies -Rajeev Jayaswal
-Hindustan Times As per prevailing international prices, the expected subsidy on kerosene sold through the public distribution system in the current financial year is zero. India is expected to save Rs.35,758 crore on kerosene and cooking gas subsidies this year, which is over 91% of the total budgeted fuel subsidy for 2020-21, mainly because of low international oil prices, according to two officials who asked not to be named. As per prevailing international...
More »Enough with the lofty rhetoric. It’s time to let the money do the talk -Himanshu
-Livemint.com Slogans, vision statements and acronyms are unlikely to be of any help to those in distress As the details of the mega fiscal package of ₹20 trillion announced by the prime minister are slowly being revealed by the finance minister (FM), it is increasingly becoming clear that it has less to do with the immediate crisis of lives and livelihood and more to do with the long-term agenda of reforms and...
More »Petrol Prices up 15 paisa, diesel by 17 paisa as crude hits $70-mark
-PTI The retail pump prices of petrol in Delhi rose to Rs 75.69 per litre - the highest since November 2018, while those of diesel climbed to Rs 68.68, according to a price notification of state-owned fuel retailers. New Delhi: Petrol Prices on Monday were hiked by 15 paisa a litre and diesel rates were increased by 17 paisa as global oil prices hit USD 70 mark in the wake of escalating...
More »Merchandise exports affected by global slowdown but not export of services
Is it the case that the global economic downturn instead of shrinking domestic demand has affected our economy more? If the aforesaid statement is true, then ideally the trade related data should indicate improvement in our imports and deceleration in the country's exports. However, that is not the case and we get a mixed picture. A press release by the Ministry of Commerce & Industry dated 13th September, 2019 shows...
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