-The Hindu Recommends six subsidised LPG cylinders per household in a year The Government-appointed Kirit Parikh Committee has recommended a price increase of Rs. 5 per litre in diesel, Rs. 4 per litre in kerosene, and Rs. 250 in LPG cylinder with immediate effect. It has also recommended that the subsidised LPG cylinders be reduced from the present nine to six cylinders per annum to each household. It has pitched for capping the...
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$15 bn rollover of subsidy costs into next budget?
-Reuters The finance minister is finding it harder and harder to meet the government's budget promises and may sweep as much as $15 billion in subsidy costs into next year's accounts to ensure he hits fiscal targets ahead of the Lok Sabha, ministry officials say. Finance minister, P Chidambaram, insists that the fiscal deficit target of 4.8% of GDP for the year to March 31, 2014, is a red line that will...
More »Veerappa Moily proposes 'Bus Day' once a week
-IANS NEW DELHI: As part of its efforts to conserve fuel, the union government proposes to declare one day in a week as " Bus Day" when all employees will use public transport, petroleum minister M Veerappa Moily on Tuesday said. "One day in a week is to be declared as 'Bus Day' as part of the petroleum ministry's mega fuel conservation campaign," Moily told media persons here. "I have also urged all...
More »62% petrol used by two-wheelers, 27% by cars, survey shows -Sanjay Dutta
-The Times of India NEW DELHI: The government touted petrol as rich man's fuel to stop subsidy. But a latest survey shows 62% of the fuel flowing into the market is consumed by the aam aadmi's sawari - two-wheelers - while about 2% is being sold loose by people to earn their livelihood in remote villages and coastal areas. The survey, conducted by Nielsen for the oil ministry's think-tank - Petroleum...
More »Ripple effect of rising fuel prices: Get used to high food prices, RBI can do little to counter them -Avinash Celestine
-The Economic Times Like his predecessor, RBI governor Raghuram Rajan too remains worried about inflation. And despite repeated attempts, the RBI has had mixed success in taming prices. Reserve Bank of India governor Raghuram Rajan has clearly decided to play spoilsport to the markets. By making it clear that he, like his predecessor, remains worried about inflation, he has also effectively signalled that with consumer prices at 9.5%, markets shouldn't expect those...
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