State oil firms are under the scanner of the Comptroller & Auditor General of India for supplying diesel at a discount to defense establishments and Indian Railways and claim compensation on the revenue loss from upstream companies and the government. Executives in state-run Indian Oil Corp, Hindustan Petroleum and Bharat Petroleum have accepted that they offer small discounts to these customers and denied recovering any part of the amount from the...

Prime Minister Manmohan Singh today said rising prices of fuel were a reality Indians needed to deal with as any more subsidies in the oil sector could destabilise the economy. The comment came days after Mamata Banerjee, his biggest ally at the Centre, warned that her Trinamul Congress would quit the ruling UPA if prices of kerosene, diesel and cooking gas were raised. Asked what he thought of the Bengal chief minister’s...

The Centre is exploring the possibility of introducing different petrol prices for two-wheelers and cars in an attempt to combat a perception that it is insensitive to the plight of the common people. Facing a flurry of protests from allies, Opposition parties and consumer groups against the hike in petrol prices last week, senior cabinet ministers are considering whether differential pricing is possible to insulate users of two-wheelers and three-wheelers from...

-The Deccan Herald   The Kerala High Court in Kochi on Friday observed that frequent hikes in the prices of petroleum implemented by oil companies in the country amount to slow poisoning of the public. The court expressed its sympathy for the plight of the common man. The common man is at the mercy of oil companies, observed a division bench headed by acting chief justice of Kerala High Court C N Ramachandran...

Is the Congress afraid of winning in Gujarat?  Nothing else explains why it lets Narendra Modi tom-tom development when it should have been the Congress banging the drums. The economic achievements of governments before Modi's read like an award citation, but too much secularism has since led the Congress astray. Instead of showcasing its past performance to regain Gujarat, it is obsessed with nailing Modi as a communalist-in-chief. Naturally, it is...