Diesel prices hiked by Rs 1.09 per litre

May 13, 2014

Diesel_price_hikedNew Delhi, May 13: Diesel prices have been raised by Rs 1.22 per litre in New Delhi from Tuesday, immediately after the end of elections as the government ordered the biggest increase in the fuel price since September 2012.

The Election Commission (EC) had rejected the oil ministry's proposal to shelve the 2013 Cabinet decision of raising diesel prices in small monthly doses because revenue losses on the fuel had dropped below Rs 6 per litre two months ago.

State oil firms — Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) — have raised pre-tax diesel prices by Rs 1.09 per litre across the country, but hikes in pump rates differ from city to city because of local levies, industry executives said.

IOCBSE 5.59 %, the country's biggest fuel retailer, said the fuel rates could not be raised in last two months as per the January 2013 Cabinet decision because revenue losses on the fuel had dropped below Rs 6 a litre and the oil ministry had referred the matter to Election Commission.

"As the proposed change has not been accepted by the Election Commission, the OMCs (oil marketing companies) are required to effect both the price increases together. Further, as a result of non-increase of prices since April 1, 2014, there is a small impact which is also required to be passed on in the price of diesel (retail)," the company said in a statemen

After the price increase, diesel will be sold at a revenue loss of Rs 5.71 per 1itre, it said. The revenue loss on the fuel was Rs 6.80 per litre before the hike. In January last year, the Cabinet had allowed state oil firms to raise diesel rates by 50 paise per month until their revenue losses are completely wiped out.

IOC, BPCLBSE 3.41 % and HPCLBSE 3.97 % regularly exercised their limited pricing freedom with the approval of the oil ministry. "There was an exception in April-May last year during assembly elections in Karnataka. As a result, oil companies had to raise diesel rates by about Rs 1 per litre after polls," one executive said.

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News Network
April 3,2020

Washington, Apr 3: The World Bank has approved USD 1 billion emergency funding for India to help it tackle the coronavirus pandemic, which has claimed 76 lives and infected 2,500 people in the country.

The World Bank's first set of aid projects, amounting to USD 1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 nations using the fast-track process, the bank said on Thursday.

The largest chunk of the emergency financial assistance has gone to India USD 1 billion.

"In India, USD 1 billion emergency financing will support better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards," the World Bank said after its Board of Executive Directors approved the first set of emergency support operations for developing countries around the world, using a dedicated, fast-track facility for COVID-19 response.

In South Asia, the World Bank also approved USD 200 million for Pakistan, USD 100 million for Afghanistan, USD 7.3 million for the Maldives and USD 128.6 million for Sri Lanka.

The World Bank said it was now working to grant up to USD 160 billion over the next 15 months to support measures to tackle the pandemic which will focus on the immediate health consequences and bolster economic recovery.

The broader economic program will aim to shorten the time to recovery, create conditions for growth, support small and medium enterprises, and help protect the poor and vulnerable.

"The World Bank Group is taking broad, fast action to reduce the spread of COVID-19 and we already have health response operations moving forward in over 65 countries," said World Bank Group President David Malpass.

"We are working to strengthen (the) developing nations' ability to respond to the COVID-19 pandemic and shorten the time to economic and social recovery," Malpass said.

According to the bank, USD 100 million will support Afghanistan to slow and limit the spread of COVID-19 through enhanced detection, surveillance, and laboratory systems, as well as strengthen essential health care delivery and intensive care.

In Pakistan, USD 200 million will support preparedness and emergency response in the health sector and include social protection and education measures, the bank said.

A total of 1,002,159 COVID-19 cases have been reported across more than 175 countries and territories with 51,485 deaths reported so far, according to Johns Hopkins University data.

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January 12,2020

Kolkata, Jan 12: Prime Minister Narendra Modi on Sunday announced that Kolkata Port Trust will be renamed as Syama Prasad Mukherjee Port.

Addressing the gathering at the inauguration of 150th anniversary celebrations of Kolkata Port Trust, he said: "I announce the renaming of the Kolkata Port Trust to Dr Shyama Prasad Mukherjee Port. He is a living legend who was a leader for development and fought on the forefront for the idea of One Nation, One Constitution."

"This port represents industrial, spiritual and self-sufficiency aspirations of India. Today, when the port is celebrating its 150th anniversary, it is our responsibility to make it a powerful symbol of New India," Modi said.

The Prime Minister said that the Bharatiya Jana Sangh founder had set the stone for industrialization in India. "Chittaranjan Locomotive Factory, Hindustan Aircraft Factory, Damodar Valley Corporation and several others saw active participation from him," he said.

The Prime Minister also felicitated the two oldest pensioners of the Kolkata Port Trust, Nagina Bhagat and Naresh Chandra Chakraborty.

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July 3,2020

New Delhi, Jul 3: India reported the highest ever single-day spike of 20,903 COVID-19 cases in 24 hours on Friday, said the Union Ministry of Health and Family Welfare.

With these new cases, India's coronavirus tally has risen to 6,25,544 cases of which 2,27,439 patients are active cases while 3,79,892 patients have been cured/discharged/migrated.

379 more deaths due to COVID-19 were reported in the country in the last 24 hours, taking the number of deaths due to the infection to 18,213.

As per the Health Ministry, Maharashtra -- the worst-affected state from the virus -- has a total of 1,86,626 cases including 8,178 fatalities while Tamil Nadu has 98,392 coronavirus cases in the state inclusive of 1,321 fatalities.

Delhi has reported 92,175 cases so far inclusive of 2,864 patients succumbing to the virus.

The Indian Council of Medical Research on Friday said that the total number of samples tested till July 2 is 92,97,749 of which 2,41,576 samples were tested on Thursday.

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