Desired outcomes can be reached through a series of ‘imperfect’ small initiatives What is to be done? How can we untie the Gordian knot that has so entangled the political economy of petroleum product prices? This is the question that now exercises our most experienced politicians and our ablest economists. Most well informed people know that a country that imports 80 per cent of its oil requirements cannot de-link itself from the...

-The Business Standard Govt cannot delay increasing diesel, LPG prices Petroleum Minister Jaipal Reddy, speaking after a ministerial-level meeting on inflation on Monday, said that the government had no immediate plans to raise the administered prices of diesel, kerosene and domestic LPG (liquefied petroleum gas). This comes after oil marketing companies raised the price of petrol last week by Rs 7.50 per litre, an increase of 12 per cent. Mr Reddy’s...

-The Indian Express The Bombay High Court today directed Centre, Petroleum Ministry and Finance Ministry to file an affidavit by June 20 in response to a petition that claimed the recent petrol price hike was "illegal" as it lacked Parliament's approval and violated the Constitution. A bench of Justices R Y Ganoo and N M Jamdar ordered the respondents to file an affidavit explaining their stand on increasing the price of petrol. Apart...

-MoneyLife.in Citing lack of uniformity in the prices of petrol, the petitioner said that in Thane, the price per litre is Rs81.70, while it is as low as Rs58.06 in Port Blair, Rs81.75 per litre in Bengaluru and Rs73.18 in Delhi The Bombay High Court on Monday issued notices to Centre, Ministry of Petroleum and Natural Gas and Finance Secretary, besides three oil marketing companies on a public interest litigation (PIL), which...

-The Hindu With emphasis in the 12th Plan on the social services sectors for achieving more inclusive growth, the Delhi Budget has allocated Rs.9,796 crore or 65 per cent of the total Plan outlay of Rs.15,000 for 2012-13 on this sector. The money, Chief Minister Sheila Dikshit said, will be used for various social welfare schemes. These include the Dilli Annashree Scheme, under which two lakh vulnerable households would be provided food...