India’s rural hinterland is catching up with urban areas in the use of electricity as the main source of lighting, in access to banking facilities and tap water for drinking, bridging the old rural-urban divide. The housing, households amenities and assets census for 2011 once again showed that rural India is fast converting into a more urbanised society. “It is part of the process of development that areas left behind eventually...

Government-owned oil marketing companies (OMCs) may witness a 52% jump in losses on account of selling fuel below cost at state-mandated prices to Rs.2 trillion in the next financial year, said R.S. Butola, chairman, Indian Oil Corp. Ltd (IOC), the nation’s largest fuel retailer. Such an increase will impact the financials of government-owned OMCs such as IOC, Hindustan Petroleum Corp. Ltd (HPCL) and Bharat Petroleum Corp. Ltd (BPCL), which currently register...

The latest round of data on the 2011 Census shows that the country is exhibiting distinct signs of trading up as material living conditions improve for large sections of the population. Although this aggregate picture is not uniform across the country, analysts believe that the upward material mobility in society is creating the basis of a new consumer boom in the economy—serving up a perfect backdrop ahead of the presentation of...

The growth rate of petrol consumption is set to fall below 5% in the current fiscal, the first time in five years. Meanwhile, the consumption of diesel continues to grow at 7%, adding to the losses of the oil marketing companies on account of subsidies. In India, diesel is subsidized while petrol is not, and the price difference has led to more buyers opting for vehicles driven by the cheaper fuel. According...

-The Economic Times After emerging as one of the pioneers in the investment regions of Petroleum products and information technology, Andhra Pradesh is now weighing the benefits of promoting an Agribusiness Investment Region (ABIR) involving major agri clusters in three of its geopolitical regions.  The proposed ABIR project in Andhra Pradesh, to be taken up in a public private partnership (PPP) model, involves setting up an integrated infrastructure for rural business and...