-The Business Standard   Union finance minister Pranab Mukherjee was being economical with the truth when he said that last Saturday’s petrol price hike decision was entirely that of oil marketing companies (OMCs). True, the government correctly but belatedly deregulated petrol pricing several months ago, but it is clear that despite a sharp increase in global crude oil prices in the past six months, the OMCs restrained themselves from increasing domestic...

-ToI   The government patched together an intricate—and flawed—fertiliser system over the last 40 years. It now wants to dismantle that monster. The challenge before it is to preserve its pro-agriculture and pro-poor objective, while correcting the flaws that crept in, reports M Rajshekhar If it all goes to plan, buying or selling fertiliser will never be the same for the 120-odd companies that make up this Rs 1,00,000 crore industry or...

Endosulfan, the pesticide which is widely believed to be responsible for thousands of deaths, diseases and devastation, was able to save its own life largely because of India’s questionable efforts at global forums. The controversial pesticide has been in news for a long time because of its harmful effects on humans, wild life and the environment. Obviously the $100 million industry is going out of the way to defend the...

The government plans to restrict subsidised domestic LPG cylinders to six per household every year. For additional cylinders, consumers will have to pay the market price. Data show 65-70 per cent of households use 5-6 cylinders (14.2 kg) a year, while the remaining use more. In Calcutta, PSU oil marketing firms suffer a loss of Rs 329.73 by selling an LPG cylinder at Rs 365.10. A senior oil ministry official said the proposal...

Food inflation fell to 8.53 per cent for the week ended April 23 on the back of fall in prices of pulses, reversing the upward trend seen in the previous fortnight. Food inflation in the previous week was 8.76 per cent. The latest numbers are likely to come as a relief to the government and the RBI, especially at a time when the central bank's monetary policy for the fiscal, released...