-The Business Standard Central bank chief Raghuram Rajan likely to retain stance later this week, say economists Inflation in onions skyrocketed to 244.62% in August against already high 119.4% in the previous month, jacking up the the rate of wholesale price rise to a six-month high of 6.10% from 5.8% in July, official data showed today. Ironically, onion prices can't be brought down by interest rate policy, but it is all set to...
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Diesel, LPG hike decision in a few weeks: oil secretary
-Reuters Govt is considering Rs3-5 hike in Diesel prices The government will decide on raising the retail prices of diesel and cooking gas (LPG) in a few weeks, the oil secretary said on Thursday, in a bid to cut the biggest item in its import bill and support the local currency. India, the world's fourth-biggest oil consumer, is considering a Rs 3 to Rs 5 hike in the price of diesel, which...
More »Steep fuel price hike likely as under-recoveries rise -Rajesh Chandramouli
-The Times of India CHENNAI: With the oil ministry looking to announce steps to curb fuel consumption on September 16, industry insiders and analysts expect a steep one-time increase in prices of diesel and domestic LPG. In several key cities, the under recovery in domestic LPG is more than double that of the selling price while in diesel, the gap has increased to Rs 12.12 a litre from Rs 9.03 per litre...
More »Bengal threat to pension bill
-The Telegraph New Delhi: The Left and the Trinamul Congress have both promised to oppose the passage of the pension reform bill that the government plans to push with the BJP's support. The Pension Fund Regulatory and Development Authority (PFRDA) bill was listed for passage in the Lok Sabha today but was stalled because of protests over various issues. One of them was the fuel price hike, which found Trinamul and the...
More »Amid slugfest with BJP, PM hints at hiking fuel prices, curbing gold imports
-The Times of India NEW DELHI: The Prime Minister on Friday called for a political consensus on "more difficult reforms", indicating that the government was considering a cut in fuel subsidy, which would mean higher petrol and Diesel prices, and bringing in measures to curb gold imports. Making a statement in the Lok Sabha on the current economic situation, Manmohan Singh admitted that the current account deficit had gone up sharply and...
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