Fuel Subsidy

Govt to give Rs 25,000 crore additional subsidy to fuel retailers

Monday March 25, 2013

The Finance Ministry has so far provided Rs 55,000 crore to Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) to cover for part of the revenue they lost on selling diesel, domestic LPG and kerosene at gov...

Moily red-flags Finance Ministry proposal on fuel pricing

Wednesday March 6, 2013

Red-flagging the Finance Ministry move to cut subsidies by changing fuel pricing norm, Oil Minister M Veerappa Moily on Wednesday said not compensating oil PSUs for their losses will put question mark on their survival.

Budget 2013: Government pegs FY14 subsidy bill 11% lower than current fiscal

Thursday February 28, 2013

Aiming to bring down the fiscal deficit, Finance Minister P Chidambaram today sought to reduce major subsidies on fuel, food and fertilisers by 11 per cent to over Rs 2.20 lakh crore in 2013-14 fiscal compared to the revised estimates for the current...

Dual diesel prices at petrol pumps tough to implement: Chidambaram

Tuesday February 26, 2013

Finance Minister P Chidambaram on Tuesday said it is difficult to charge a market price for luxury cars and a subsidised price for farmers and transport trucks at the same petrol pump.

Petrol and diesel prices likely to be hiked this week

Raj Kumar Sahu | Wednesday March 6, 2013

This would be the 20th hike in petrol price since the time the fuel was deregulated. Under deregulation, oil firms are free to decide the quantum and frequency of the price hike.

Diesel prices to be hiked by 40-50 paise every month: Oil Minister

Wednesday March 6, 2013

The government had on January 17 permitted state-run oil marketing companies to set diesel prices in a move that could help the government reduce its budget-busting subsidy bill. A day later, the price of the fuel was hiked by 45 paise.

Countries should do away with fuel subsidies: World Bank chief

Saturday January 26, 2013

Countries should do away with subsidies for fossil fuels to help mitigate the impact of climate change, World Bank chief Jim Yong Kim today asserted, but felt removing them would be "politically difficult".

Government prods diesel prices up to tackle fiscal deficit

Thursday January 17, 2013

The government told fuel retailers to raise the price of subsidised diesel in small amounts every month starting Friday in an attempt to prop up public finances without causing a popular backlash before elections.

Won't factor diesel price hike in oil subsidy bill in FY13: Chidambaram

Thursday January 17, 2013

The government will not factor the impact of diesel price hike by oil companies while computing the oil subsidy bill for the current fiscal, Finance Minister P Chidambaram said today.

Government should quickly hike diesel price, prune subsidy bill: Rangarajan

Tuesday January 8, 2013

The government should act quickly to raise diesel rates to bring them in line with global prices in order to reduce its subsidy bill, Prime Minister's Economic Advisory Council Chairman C Ranagarajan has said.

Year in review: How 2012 fared for India Inc.

Saturday December 29, 2012

The year 2012 saw both ups and downs for India Inc. While the first half saw sentiment plummet after economic growth dropped to a three-year low, the second half saw renewed optimism as the government finally kick-started its stalled reform agenda by...

PM launches Aadhar-based direct cash transfers in 51 districts of India

Edited by Prasad Sanyal | Monday November 26, 2012

From January 1, 2013, this scheme is expected benefit people in 51 districts across the country, where Aadhar cards have been distributed in large numbers. The government aims to cover the entire country by the end of next year, ahead of the 2014 ele...

Oil ministry seeks cash subsidy of Rs 105,525 crore for FY13

Friday November 23, 2012

The Oil Ministry has sought Rs 105,525 crore from the Finance Ministry this fiscal to subsidise diesel and cooking fuel, the Lok Sabha was informed today.

BPCL Q2 net profit at Rs 5,000 cr on government's oil subsidy

Friday November 9, 2012

State-owned Bharat Petroleum Corp Ltd (BPCL) today reported net profit of Rs 5,034.79 crore for the July-September quarter, as against Rs 3,229.27 crore loss in the year-ago period, after the government released part of the fuel subsidy.

Govt to pay state fuel retailers Rs 30,000 crore as oil subsidy

Thursday November 8, 2012

The Centre will pay Rs 30,000 crore ($5.5 billion) to state-owned fuel retailers forced to sell at cheaper government-set rates in the first half of the year, said three sources who saw the finance ministry's confirmation letter.