Black flag protests in Tamil Nadu against PM's Madurai visit

New Delhi, Jun 20: Diesel price on Saturday hit a record high after rates were hiked by 61 paise per litre while petrol price was up 51 paise, taking the cumulative increase in rates in two weeks to Rs 8.28 and Rs 7.62 respectively.

Petrol price in Delhi was hiked to Rs 78.88 per litre from Rs 78.37, while diesel rates were increased to Rs 77.67 a litre from Rs 77.06, according to a price notification of state oil marketing companies.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

The 14th daily increase in rates since oil companies on June 7 restarted revising prices in line with costs after ending an 82-day hiatus in rate revision, has taken diesel prices to new high. Petrol price too is at a two-year high.

Prior to the current rally, diesel rate had touched a peak of Rs 75.69 per litre in Delhi on October 16, 2018.

The highest-ever petrol price was on October 4, 2018, when rates soared to Rs 84 a litre in Delhi.

When rates had peaked in October 2018, the government had cut excise duty on petrol and diesel by Rs 1.50 per litre each. State-owned oil companies were asked to absorb another Re 1 a litre to help cut retail rates by Rs 2.50 a litre.

Oil companies had quickly recouped the Re 1 and the government in July 2019 raised excise duty by Rs 2 a litre.

The 82-day freeze in rates this year was imposed in mid-March soon after the government hiked excise duty on petrol and diesel to shore up additional finances.

The government on March 14 hiked excise duty on petrol and diesel by Rs 3 per litre each and then again on May 5 by a record Rs 10 per litre in case of petrol and Rs 13 on diesel. The two hikes gave the government Rs 2 lakh crore in additional tax revenues.

Oil PSUs Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), instead of passing on the excise duty hikes to customers, adjusted them against the fall in retail rates that was warranted because of a decline in international oil prices to two-decade lows.

International oil prices have since rebounded and oil firms are now adjusting retail rates in line with them.

In 14 hikes, petrol price has gone up by Rs 7.62 per litre and diesel by Rs 8.28 a litre.

New Delhi, Jul 15: Air India has started the process of identifying employees, based on various factors like efficiency, health and redundancy, who will be sent on compulsory leave without pay (LWP) for up to five years, according to an official order.

The airline's board of directors have authorised its Chairman and Managing Director Rajiv Bansal to send employees on LWP "for six months or for a period of two years extendable upto five years, depending upon the following factors - suitability, efficiency, competence, quality of performance, health of the employee, instance of non-availability of the employee for duty in the past as a result of ill health or otherwise and redundancy", the order said on Tuesday.

The departmental heads in the headquarter as well as regional directors are required to assess each employee "on the above mentioned factors and identify the cases where option of compulsory LWP can be exercised", stated the order dated July 14.

"Names of such employees need to be forwarded to the General Manager (Personnel) in headquarter for obtaining necessary approval of CMD," the order added.

In response to queries regarding this matter, Air India spokesperson said,"We would not like to make any comment on the issue."

Aviation sector has been significantly impacted due to the travel restrictions imposed in India and other countries due to the coronavirus pandemic. All airlines in India have taken cost-cutting measures such as pay cuts, LWP and firings of employees in order to conserve cash flow.

For example, GoAir has put most of its employees on compulsory LWP since April.

India resumed domestic passenger flights from May 25 after a gap of two months due to the coronavirus pandemic.

However, the airlines have been allowed to operate only a maximum of 45 per cent of their pre-COVID domestic flights. Occupancy rate in Indian domestic flights has been around 50-60 per cent since May 25.

Scheduled international passenger flights continue to remain suspended in India since March 23.

The passenger demand for air travel will contract by 49 per cent in 2020 for Indian carriers in comparison to 2019 due to COVID-19 crisis, said global airlines body IATA on Monday.

New Delhi, Mar 26: Ujjwala beneficiaries will get free gas cylinders (LPG cylinders) in the next three months, Finance Minister Nirmala Sitharaman announced on Thursday. Addressing a press briefing amid coronavirus pandemic, the finance minister said the announcement is set to benefit 8.3 crore BPL families.