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...
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Fertiliser subsidy bill for the current fiscal set to cross Rs 70,000 crore by Deepshikha Sikarwar
The government is likely to peg fertiliser subsidy for next financial year at Rs 66,000 crore, lower than the actual outgo in 2011-12. "A moderate increase is likely," said a government official. The actual subsidy bill for the fiscal is likely to come at over Rs 70,000 crore though the government had budgeted for just Rs 49,997 crore in the budget 2011-12. Private analysts had soon after the presentation of the last...
More »Agri report calls for growth on a par with GDP by Sandip Das
A report on ‘State of Indian Agriculture 2011-12’, tabled in the Lok Sabha on Tuesday, has called for reforms to ensure that the sector grows in tandem with the overall GDP of the country. The report says that “achieving an 8-9% rate of growth in the overall GDP may not deliver much in terms of poverty reduction unless agricultural growth accelerates”. Admitting that the sector has undergone ‘significant structural changes’ in...
More »AIDAN proposes another pricing model for essential drugs by Khomba Singh
A non-government organisation campaigning for cheaper essential drugs has proposed an alternative pricing model that seeks to fix Retail prices at the average price of all brands in a segment. The proposal of the All India Drug Action Network (AIDAN) is being examined by the department of pharmaceuticals (DoP), an official said. AIDAN says its new pricing mechanism, which excludes brands that account for the top 20% by sales, will make...
More »Economic growth and food security depend on healthy farm sector, whose pillar, the farmer, is still neglected by Ajay S Shriram
In India, agriculture and allied sector is the source of income for over 60% of rural population and its contribution to GDP has been consistently coming down and currently stands at 14.3%. For the Indian economy to grow at the rate of 8-9%, the growth rate of agriculture sector has to be more than 4%. The critical role of agriculture in the economy highlights the need for a larger investment in...
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