-Scroll.in The price of petrol and diesel remains as high even though the cost of importing crude oil has halved from 2011. In 2011 when the cost of oil being imported by India was averaging above $100 per barrel, the retail price that citizens paid for petrol in Delhi averaged Rs 65 per litre. But today, when the cost of importing oil is substantially lower at an average of $50 per...

-PTI 'If public spending is slashed, it will mean cutting down expenditure on social sector scheme." There is hardly any private investment,' explained Finance Minister Arun Jaitley. Finance Minister Arun Jaitley provided no indication today of any cut in excise duty on petrol and diesel to cushion the spike in rates, saying that the government needs revenue to support public spending without which growth will suffer. States levy a high amount...

-The Economic Times Change in fuel price indeed has far reaching effects as its impact ranges from daily budget to macroeconomics like inflation numbers. The rise in petrol and diesel prices has been making news for the last week or so. Change in fuel price indeed has far reaching effects as its impact ranges from daily budget to macroeconomics like inflation numbers. Here is a roundup of what is happening and why...

-The Times of India NEW DELHI: Do you know every time you buy diesel or petrol you pay six paise and four paise per litre respectively for proper toilet facilities at petrol pumps? Petroleum ministry officials and petrol pump owners confirmed that this provision exists for generating revenue for maintenance of toilets. However, the latter claimed that the monthly revenue is not enough to meet the requirement. The allotment condition for petrol pumps...

-The Hindu In contrast to its pronouncements, the government’s own data suggest the economy is in a deep hole Prime Minister Narendra Modi, in his Independence Day address, spoke triumphantly about how demonetisation drove ?3 lakh crore of unaccounted money into the banking system. The Reserve Bank of India (RBI) is still counting old notes, and unaccounted money cases are ongoing. Thus, this number is at best a guesstimate, and cannot be...