Diesel price rise may be imminent

April 25, 2012
Diesel

New Delhi, April 25: The price of diesel may go up as the government has agreed to make the prices “market determined.”

The announcement came on Tuesday in the Rajya Sabha in the form of a written reply by Minister of State Namo Narain Meena. The minister, however, said the government did not propose to deregulate prices of cooking gas.

“(The) government has, in principle, agreed to make prices of diesel market-determined. There is no proposal at present to fully de-regulate cooking gas prices,” Meena stated, sparking protests from BJP members. The members of the main Opposition party said the move would have a cascading effect on overall prices of commodities since diesel “is the basic transport fuel”. “The government wants to help the oil mafia by taking the in-principle decision on diesel price deregulation,” BJP vice-president Mukhtar Abbas Naqvi said.

Finance Minister Pranab Mukherjee said that thein-principle decision to deregulate diesel prices was taken as early as last June.

Mukherjee, while presenting the 2012-13 budget on March 16, vowed to reduce subsidies to less than 2 per cent in the current financial year (2012-13). High oil prices have swelled India’s subsidy burden to roughly 2.5 per cent of GDP.

While petrol prices have been linked to the market, the government’s control on pricing of diesel, LPG and kerosene has resulted in large public expenditure on subsidies.

The government control of diesel prices has been criticised by many in the past with the Reserve Bank of India (RBI) being the most vociferous. The prices should be decontrolled fully to contain the trade deficit, which was expected to widen to $185 billion during the current fiscal, RBI has said.

A couple of days ago, the government’s chief economic adviser Kaushik Basu suggested partial decontrol of diesel in order to mirror the rise and fall of the global oil prices.

“A phased deregulation of diesel prices is required in order to rein in runaway fiscal deficit, reduce growing under-recoveries of oil marketing companies and save the common man from a rather bigger pressure of inflation, which is only being momentarily suppressed due to the government’s current policies,” Crisil chief economist Deepak Joshi told Deccan Herald.

Tough pill

* Cooking gas exempt from proposal

* Decision to deregulate diesel prices was taken as early as last June, says finance minister

* Government control of diesel prices has been criticised by many in the past with the RBI being the most vociferous

* High oil prices have caused subsidy burden to swell up to 2.5 per cent of GDP

*Diesel basic transport fuel; move will have cascading effect on overall prices of commodities, cries Opposition BJP

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News Network
May 29,2020

New Delhi, May 29: In a powerful display of inter community solidarity, a team of Sikh volunteers visited Delhi's Jama Masjid and sanitized the 17th century monument.

As the national capital battled coronavirus, the historic Jama Masjid is closed for congregational prayers. However, the team of Sikh volunteers effectively sanitized the monument to ensure it is safe for the caretakers and visitors.

The volunteers affiliated with United Sikhs organization also met Naib Shahi Imam of Jama Masjid Syed Shaban Bukhari during the visit. The latter thanked the team for the humanitarian gesture and underlined the need for all sections of humanity to unite in the face of this crisis.

"The Sikh community has always displayed exemplary commitment to humanity and we are thankful to the United Sikhs' team for their initiative. This enormous crisis facing the human race can be fought off only if all communities, nations and people unite and fight it together. In recent weeks we have seen heart wrenching images of misery in the country as thousands of migrant workers return to their villages. At the same time we have also seen positive stories of different people uniting to help and feed them. We hope that together we will overcome this crisis," said Syed Shaban Bukhari, Naib Shahi Imam, Jama Masjid, Delhi.

Shaban Bukhari has also advised Muslims across the country to strictly avoid congregational prayers this Eid and pray at homes. He is young leader, who really believes in secularism. For him, humanity and kindness come first.

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News Network
January 18,2020

Mumbai, Jan 18: Maharashtra Tourism Minister Aaditya Thackeray on Friday said shops, restaurants, malls and pubs will remain open 24 hours on an experimental basis in a few areas of Mumbai from January 26.

The areas where these establishments will remain open all night are Fort and Kala Ghoda in south Mumbai and Bandra Kurla Complex in the west.

Thackeray had batted for all-night-open eateries and other establishments in the city during the earlier BJP-Shiv Sena regime too.

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News Network
February 22,2020

New Delhi, Feb 22: China is delaying grant of clearance to India's proposal to send an Indian Air Force flight to carry relief material for people affected by coronavirus in the neighbouring country and bring back Indians from its city of Wuhan, official sources said Saturday.

India was to send a C-17 military transport aircraft to Wuhan, the epicentre of the coronavirus outbreak, on February 20 but the plane could not take off as permission was not granted for the flight.

"China is deliberately delaying grant of clearance for the evacuation flight," a high-level source said.

The aircraft was to carry a large consignment of medical supplies to China and bring back more Indians from Wuhan.

Sources said the Chinese side continued to maintain that there was no delay in granting permission for the flight to go, but "inexplicably" the clearance has not been given.

In a letter to President Xi Jinping earlier this month, Prime Minister Narendra Modi conveyed India's solidarity to the people and government of China in meeting the challenge of the coronavirus outbreak and offered to provide assistance to the country.

India then put together relief supplies in pursuance of Modi's commitment as a token of India's solidarity, particularly in the 70th year of the anniversary of diplomatic relations between the two countries.

"These supplies have been offered even as India faces tremendous shortage itself, given our ethos of helping others in their hour of need," said a source aware of the issue.

The items being supplied are gloves, surgical masks, feeding pumps and defibrillators based on the requirements as indicated by the Chinese side.

India's national carrier Air India has already evacuated around 640 Indians from Wuhan in two separate flights.

According to estimates, over 100 Indians are still living in Wuhan. A sizeable number of countries have evacuated their citizens from China and restricted movement of people and goods to and from the country in view of the massive outbreak of coronavirus there.

Indian nationals in Wuhan continue their long wait for the flight. The delay is causing them and their family members in India tremendous mental anguish, said the sources.

They said relief and evacuation flights from other countries including by France are allowed to operate by China but the permission has not come through in India's case.

"Are they not interested in Indian aid provided as our token of support? Why are they creating roadblock in evacuating our nationals from Wuhan and putting them under hardship and mental agony?" said a person aware of the issue.

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