-The Economic Times The government appears to have developed cold feet over implementing Kelkar panel's recommendations to slash subsidies drastically at a time when it is facing backlash for raising diesel prices and capping subsidised cooking cylinders. The report, which has been put out for public comments, warns that India is on the edge of a fiscal precipice. A senior finance ministry official has said that the report has not been accepted...

-The Hindustan Times In response to the widespread protests and the nation-wide hartal last Thursday, Prime Minister Manmohan Singh addressed the nation on Friday and tried to explain why these decisions had become inevitable. The thrust of his argument was, “We need a revival in investor confidence, domestically and globally.” For this, the current high fiscal deficit must be contained and, hence, the hike in the prices of diesel and cap on...

-The Times of India In a relief to consumers, the home minister P Chidambaram on Friday announced abolishment the import and excise duties on non-subsidized domestic LPG cylinders, bringing down their price by Rs 97 a unit in Delhi. It also asked states to subsidize LPG cylinders. The government had last week restricted supply of subsidized cooking gas to six per household in a year. Any requirement beyond this was to be...

-The Telegraph Non-subsidised domestic cooking gas will cost Rs 832 per cylinder in Calcutta following the Centre’s decision to forego customs and excise duties that add up to Rs 103.50 apiece. However, if the Bengal government drops local levies, consumers can save Rs 52.50 more as the price will fall further to about Rs 780 a cylinder. According to new rules, every family will have to pay the market rate once it crosses...

-The Economic Times The government's decision to cap supply of subsidised cooking gas cylinders to six a year would be difficult to implement and encourage black marketing, oil industry officials said.   There could be an opportunity to divert cheaper cylinders from customers whose yearly consumption is less than six refills, industry officials said. According to the oil ministry 44% of consumers take six cylinders or less in a year. All India LPG Distributors...