Desired outcomes can be reached through a series of ‘imperfect’ small initiatives What is to be done? How can we untie the Gordian knot that has so entangled the political economy of petroleum product prices? This is the question that now exercises our most experienced politicians and our ablest economists. Most well informed people know that a country that imports 80 per cent of its oil requirements cannot de-link itself from the...
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Petrol price down Rs 2 a litre, another Re 0.92 cut next week
-The Times of India State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT). In other states, the extent of decline would vary by a few paise...
More »Guar: Farmers mint money from common man's food-Nitin Sethi
It used to be a dry and arid land legume grown by poor farmers in Rajasthan, Haryana , Gujarat and Madhya Pradesh. Till a few years back, it sold for as low as Rs 1,000 a quintal. Eaten either at home by farmers (some may remember it as guar ki phalli) or sold off for export to be used as a binding and thickening agent in edible products like ice creams,...
More »Petrol price: Oil firms, govt play politics at consumers' cost-Sanjay Dutta
State-run fuel retailers don't tire of flashing their "autonomy" to justify raising petrol price. But when it came to a reduction on Thursday, they suddenly appeared to have developed political bones: the three oil marketers firms hastily pulled back plans to cut price by Rs 1.60 or so, excluding taxes, to prevent the opposition from taking credit. The retailers had raised petrol price by Rs 6.28, excluding taxes, on May 23....
More »GoM gives green signal to Chhatrasal, Mahan coal blocks
-The Economic Times The government has removed roadblocks to coal mining by leading business houses and taken the first step to relax scrutiny of corporate expenditure on oil and gas fields, in a burst of action that has cheered investors and industrialists in the languishing energy sector. A group of ministers recommended to the cabinet on Wednesday that Reliance Power's Chhatrasal block, which is attached to the 4,000 mw Sasan Ultra Mega...
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