Narendra Modi, BJP MPs to observe fast to protest budget session washout

New Delhi, Jun 26: "Iam Indira Gandhi's granddaughter, not an undeclared BJP spokesperson like some of the opposition leaders," Congress general secretary Priyanka Gandhi Vadra on Friday said, as she alleged that the Uttar Pradesh government is threatening her through various departments for speaking the truth. Priyanka Gandhi's dare to the Uttar Pradesh government came days after the Agra administration asked her to withdraw within 24 hours the claim of high coronavirus deaths in the district.

The Congress general secretary in-charge UP East has accused the Yogi Adityanath government of indulging in propaganda instead of dealing with the pandemic. "As a public servant, my duty is towards the people of Uttar Pradesh. And this duty is to put out the truth before them and not to put forth government propaganda. The UP government is wasting its time by threatening me through its various departments," Priyanka Gandhi said in a tweet in Hindi.

"They can take whatever action they want, I will keep putting forth the truth. I am Indira Gandhi's granddaughter not an undeclared BJP spokesperson like some of the opposition leaders," she said. This week, Priyanka Gandhi repeatedly attacked the Uttar Pradesh government over the "high" COVID-19 mortality rate in Agra and on other issues related to the state government's handling of the pandemic.

New Delhi, Jun 24: A litre of diesel on Wednesday was more expensive than a litre of petrol after the price of the former was hiked by 48 paise on the 18th successive day of fuel price revisions. While petrol price remained unchanged for the first time since June 7, diesel prices maintained upward trajectory to touch new highs.

It is for the first time in Delhi that diesel has become more expensive than petrol. A litre of the fuel now costs ₹79.88 as against ₹79.76 for a litre of petrol, as per a report in news agency ANI.

While surging fuel prices may generate much-needed revenue for governments, it would also have a detrimental impact on household budgets. The spike in diesel prices also has a wider impact on the transport and agricultural sectors which are largely dependent on the fuel.

The widest gap between the prices of the two fuels was on June 18 of 2012 when a litre of petrol was at ₹71.16 in Delhi while diesel was at ₹40.91. On June 28, the gap between the two fuels was 31.17 per litre in Mumbai. Around that time, there was a spurt in sales of diesel passenger vehicles while demand for such vehicles has come down significantly in current times. This has also led many manufacturers to ditch diesel engines completely.

The current trend of fuel price hikes are unlikely to do demand for petrol vehicles much good either.

Daily price revisions of the two fuel had been temporarily halted for 83 days till it was resumed on June 7.

India's demand for fuel doubled in May and has been steadily rising in June with the easing of restrictions. Indian refineries have already scaled up crude processing with Indian Oil Corp, the country's top refiner, looking to operate its plants at about 90% capacity in June.

The rising fuel prices, however, have resulted in political uproar with Congress leading the charge against the central government and accusing it of penalising consumers by imposing high taxes. A demand for including fuel prices under Goods and Services Tax (GST) has also been renewed by many but it is highly unlikely that it would happen. With oil companies looking to cut back on their previous loses and governments - central as well as states - aiming to generate revenue after tumultous weeks of lockdown, fuel price hikes are likely to stay till at least the end of June.

New Delhi, Mar 6: Union Finance Minister Nirmala Sitharaman on Friday will move the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 for consideration and passing in Lok Sabha.

In December last year, the Union Cabinet had approved a proposal to promulgate an ordinance to amend the Insolvency and Bankruptcy Code (IBC) 2016.

The amendments will remove certain ambiguities in the IBC 2016 and ensure smooth implementation of the code, an official statement said.

The move is aimed at easing the insolvency resolution process and promoting the ease of doing business. Aimed at streamlining of the insolvency resolution process, the amendments seek to protect last-mile funding and boost investment in financially-distressed sectors.

Under the amendments, the liability of a corporate debtor for an offence committed before the corporate insolvency resolution process will cease.

The debtor will not be prosecuted for an offence from the date the resolution plan has been approved by the adjudicating authority if a resolution plan results in change in the management or control of the corporate debtor to a person who was not a promoter or in the management or control of the corporate debtor or a related party of such a person.

The amendments are aimed at providing more protection to bidders participating in the recovery proceedings and in turn boosting investor confidence in the country's financial system.