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Oil PSUs: Decoding the math of loss or under-recovery and what it means-Avinash Celestine

-The Economic Times How right was the government when it stated that the under-recoveries posed a threat to 'our national economy'? Or when the government says that it gave more to the sector in the form of subsidies than it earned as fuel taxes? The government would also like you to believe that the under-recoveries, dependent as they are on the price of crude in the international market, and the exchange...

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Oil companies set to reduce petrol prices -Piyush Pandey

-The Times of India MUMBAI: Consumers may get some relief as oil marketing companies (OMCs) plan to revise petrol prices downward due to falling international crude oil prices and a strengthening rupee. The Indian basket of crude oil fell to $106.74 on September 20 from $116 five days earlier, according to data published by the oil ministry. The rupee, which hit a four-month-high of 53.47 on September 21, is expected to strengthen...

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Natural resources: A blessing or a curse for nations?-Joseph E Stiglitz

-The Economic Times New discoveries of natural resources in several African countries - including Ghana, Uganda, Tanzania, and Mozambique - raise an important question: will these windfalls be a blessing that brings prosperity and hope, or a political and economic curse, as has been the case in so many countries? On average, resource-rich countries have done even more poorly than countries without resources. They have grown more slowly, and with greater inequality...

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Unemployment dole on the way out in State?-KPM Basheer

-The Hindu Unemployment dole, introduced in Kerala in 1982, the first State to do so, could soon be a thing of past if Labour Minister Shibu Baby John has his way. “We need to rethink on the unemployment dole as it does not serve any purpose now,” Mr. John toldThe Hindu . The government spends Rs.50 crore a year on the unemployment assistance scheme and there are roughly 3.5 lakh people getting...

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States seek legislative changes to to punish those drawing excess power from grid-Debjoy Sengupta & Mitul Thakkar

-The Economic Times KOLKATA/AHMEDABAD: Power sector officials from Ahmedabad to Kolkata are fretting over the indiscipline of northern states and are seeking legislative changes to imprison those responsible for drawing excessive electricity and putting at risk power supply to law-abiding states.  Most officials in eastern and western India say that the unprecedented breakdowns of power supply this week were avoidable. Officials are angry with the Northern Regional Power Committee (NRPC), the body...

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