(PTI) State-owned Oil and Natural Gas Corp (ONGC) has got approval from the government for selling its stake in IOC and GAILto help fund the Rs 36,915 crore acquisition of HPCL. ONGC holds 13.77 per cent stake in nation’s biggest refiner Indian Oil Corp (IOC), which at today’s trading price is worth over Rs 26,200 crore. It also holds 4.86 per cent stake in gas utility GAIL India Ltd, which is worth over Rs 3,847 crore. Top sources with direct knowledge of the issue said the government gave ONGC nod to sell its shareholding in IOC and GAIL earlier this month…
Author: Amit Bhanot
(PTI) The government may consider increasing import duty on certain items related to power, capital goods and chemicals sectors in the forthcoming Budget with an aim to boost domestic manufacturing, sources said. The move would also help promote the government’s ambitious ‘Make in India’ initiative, said the source, who did not wish to be named. Imports of cheap power equipment have been affecting domestic manufacturers as well as created issues for independent power producers in view of poor quality and after sales service. The Indian Electrical and Electronics Manufacturers’ Association (IEEMA) in its pre-Budget recommendations have asked the government to remove…
(PTI) Petrol prices today hit the highest level since the BJP government came to power in 2014, and diesel touched a record high of Rs 63.20 a litre, prompting the oil ministry to seek a cut in excise duty. Petrol price rose to Rs 72.38 per litre in Delhi, highest since March 2014, according to daily fuel price list of state-owned oil firms. Rates have risen by Rs 3.31 per litre since mid-December. In Mumbai, prices have crossed Rs 80-mark -costliest in the country. Diesel is being sold at Rs 67.30 in Mumbai, where the local sales tax or VAT rates are…
(PTI) Engineering major Larsen & Toubro (L&T) today said it has launched the second offshore patrol vessel (OPV) for the Navy at its greenfield defence shipyard in Kattupalli near Chennai. An OPV is a long-range surface ship with helicopter operation capabilities. Its role includes coastal and offshore patrolling, policing maritime zones of India, control and surveillance, among others. JD Patil, Senior Executive Vice-President and whole- time Director (Defence), L&T said OPV-2 is the ninth defence vessel launched by L&T in the current financial year, as per a company statement. L&T, the first private Indian shipyard to construct and deliver OPVs for the…
(AU) ट्रेन यात्रियों को मंगलवार को परेशान होना पड़ेगा। फुल ड्रेस रिहर्सल के कारण तिलक ब्रिज रेलवे स्टेशन पर डेढ़ घंटे तक सभी आने-जाने वाली ट्रेनें प्रभावित होंगी। सुबह 10:30 से दोपहर 12 बजे तक ट्रेनों का संचालन नहीं किया जाएगा। कई ट्रेनें मार्ग में रोककर चलाई जाएंगी तो कई आंशिक रूप से निरस्त रहेंगी। कुछ ट्रेनें परिवर्तित मार्ग से भी चलेंगी। परेड के गुजरने तक झेलम एक्सप्रेस, कोचुवेल्ली-अृतसर एक्सप्रेस, श्रीधाम एक्सप्रेस, सचखंड एक्सप्रेस, अमृतसर-सहरसा गरीब रथ, केरला एक्सप्रेस, कालका पश्चिम एक्सप्रेस, कानपुर-नई दिल्ली शताब्दी, देहरादून-नई दिल्ली जन शताब्दी, मगध एक्सप्रेस, काशी विश्वनाथ ट्रेन रास्ते में रुक कर चलेंगी।
(PTI) Senior BJP leader Anandiben Patel was today sworn in as the governor of Madhya Pradesh. Madhya Pradesh High Court Chief Justice Hemant Gupta administered the oath of office to Patel at a ceremony held at the Raj Bhawan here. Lok Sabha Speaker Sumitra Mahajan, MP Chief Minister Shivraj Singh Chouhan, his cabinet colleagues and other leaders were among those present at the ceremony. Earlier, Chief Secretary Basant Pratap Singh read out the warrant of appointment issued by President Ram Nath Kovind, appointing Patel as the governor of MP. Patel, the former chief minister of Gujarat, is now the full-time governor of…
(PTI) India is projected to grow at 7.4 per cent in 2018 as against China’s 6.8 per cent, the IMF said today, making it the fastest growing country among emerging economies following last year’s slowdown due to demonetisation and the implementation of the GST. In its latest World Economic Outlook (WEO) update released today in Davos, Switzerland on the sidelines of the World Economic Forum, the International Monetary Fund has projected a 7.8 per cent growth rate for India in 2019. Growth rate projections for both 2018 and 2019 remains unchanged since its October 2017 WEO projections. China, during the same…
Amit Bhanot, Managing Editor, Governance Democracy & Politics Magazine, January Issue As blamed by many that economic activity in the country was hit by the twin blows of demonetization and implementation-related issues of the goods and services tax (GST), it seems quite likely that Indian economy is expected to expand at its slowest pace in the four years since the Narendra Modi government took office. Even Government forecast economic growth slowing to 6.5% during current fiscal from 7.1% in the previous year. Though the forecast released by the Central Statistics Office (CSO) assumes that the economy is on a recovery…
(LiveMint) Prime Minister Narendra Modi on Monday arrived in Zurich on way to Davos to attend the World Economic Forum (WEF) meeting where he would share his vision for India’s future engagements with the international community. After reaching Davos, he would be meeting Swiss President Alain Berset on Monday. The prime minister would also attend the welcome reception by India and later host a dinner for global chief executive officers (CEOs). Modi would deliver the opening plenary address at the WEF summit on Tuesday. He is scheduled to have a bilateral meeting with Swedish Prime Minister Stefan Lofven in Davos. “On…
(PTI) HPCL may acquire Mangalore Refinery and Petrochemicals Ltd (MRPL) in a cash and share- swap deal to become India’s third-largest oil refiner, a top official said. Oil and Natural Gas Corp (ONGC), India’s biggest oil and gas producer, last week announced acquisition of HPCL for Rs 36,915 crore. After this takeover, ONGC has two refining subsidiaries – HPCL and MRPL. “If MRPL comes to HPCL, we can bring lot of synergy,” HPCL Chairman and Managing Director Mukesh Kumar Surana told PTI. For one, HPCL (Hindustan Petroleum Corp Ltd) sells more petroleum product than it produces and bringing MRPL’s 15 million…