Petrol price cut: Cabinet minister asks for 'bold step' to check petrol prices

June 3, 2012

vayalar

New Delhi, June 3: Union Minister Vayalar Ravi disapproved of the petrol price hike on Saturday, and suggested a "bold may be taken to reduce the recent increase". The state-run oil companies have announced a reduction of Rs. 2 per litre in petrol prices on Saturday, which became effective from midnight, after increasing the price by Rs.7.50 per litre On May 23.

Minister for Overseas Affairs Mr Ravi, in a letter to Petroleum Minister S Jaipal Reddy, questioned the claims of oil marketing companies that they are incurring huge losses and asked his cabinet colleague to scrutinise the issue in detail. (Read: Vaylar Ravi's letter to Petroleum Minister Jaipal Reddy)

"Apparently, the claim made by oil companies that they are running at a loss seems to be untrue. As a matter of fact, the expenditure of oil companies, including salaries, is among the highest in India and there is a perception that funds are being wasted," Mr Ravi said in the letter.

"In this backdrop, I feel a closer scrutiny is needed before deciding on any further increase in oil prices. Instead, a bold look may be taken at reducing the recent hike," he said.

He is the second Union Minister after Defence Minister A K Antony to have expressed unhappiness at the petrol price increase. Mr Antony had on Wednesday criticised the hike saying it was "not a correct step" and the oil companies should have shown some "propriety" before taking the decision.

Cutting across party lines, leaders have voiced their dissent over the recent petrol price hike. Nationwide protests by Opposition as well as some of the UPA allies, followed by NDA's strike on May 31 clearly put pressure on the government to act.

Even after the announcement, key UPA allies and the Opposition are not happy with the reduction in petrol prices by the state-run oil companies. Dubbing the Rs. two per litre cut in price as 'token', UPA ally Trinamool Congress as well as other opposition parties demanded a 'complete rollback' and said they would not settle for anything less.

Reacting to the state-run oil companies to reduce petrol price, Trinamool Congress chief and West Bengal Chief Minister Mamata Banerjee said, "I am not happy at the cut in petrol price by Rs. two per litre. It is not enough. It is still a burden on the common man. There should have been a total rollback of the hike."

Terming the reduction in prices as 'totally inadequate', CPI National Secretary D Raja also demanded the oil companies should go for a 'complete rollback' because they had effected "such an outrageously steep hike when international crude prices were declining".

Maintaining that the government's view that it did not have any role in the price fixation for petrol due to de-regulation was 'ridiculous', Mr Raja said the oil companies have been following the government diktats regularly. "Otherwise, why did they not raise the prices when Parliament was in session," said Mr Raja. He said the decision came two days after nationwide protests by Left and other parties.

CPI(M) Politbureau said the partial rollback was "unacceptable" and Left parties will continue their agitation for reversal of the price increase.

BJP spokesperson Rajiv Pratap Rudy also pressed for a 'total rollback' and wondered whether the hike of Rs. 6 per litre after the partial rollback was 'acceptable' to the UPA allies. "I want to know whether they (UPA allies) are worth this," Mr Rudy said. He said people of the country are not satisfied with the token rollback and will teach the UPA a "lesson in the coming days".

Tamil Nadu Chief Minister Jayalalithaa termed the partial rollback as an "eyewash" and demanded a complete rollback. In a statement, the AIADMK supremo said, "This small reduction will not soothe people's anger. It will continue to be a burden on poor and middle class".

She said the decision by the Congress-led UPA to reduce the hike by Rs. two reminded her of the Tamil proverb, "feeding popcorns to the hungry elephant." Recalling her earlier criticism, Ms Jayalalithaa said petrol prices were hiked, when people were already burdened by the price rise because of the Centre's "wrong economic policies."

Odisha Chief Minister Naveen Patnaik too dismissed the partial rollback as 'meaningless'. Mr Patnaik said, "We demand complete roll-back in the hike effected in the price of petrol by the central government recently."

BJD had observed a state-wide bandh on May 31 seeking complete roll-back of petrol price hike and party workers had hit the streets to press for the demand. Mr Patnaik too had participated in the demonstrations against the petrol price hike terming it as a burden on the common people.

However, leaders in Congress have heaved a sigh of relief after drawing flak from allies as well the Opposition over the steep hike in petrol prices earlier. "We are happy that the price of petrol has been reduced by Rs. 2.02 per litre. It will give relief to the common man. Our party has great concern for Aam Admi," party spokesperson Rashid Alvi said.

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News Network
January 1,2020

New Delhi, Jan 1: Newly-appointed Chief of the Defence Staff General Bipin Rawat on Wednesday said the armed forces stay away from politics and work as per the directives of the government of the day, remarks that come amid allegations that the forces were being politicised.

Gen Rawat also said that his focus as CDS will be to integrate the efforts of the three services and to work as a team.

"We keep ourselves away from politics. We act according to the directives of the government of the day," he said.

Gen Rawat said his focus will be to ensure best and optimal use of resources allocated to the three services.

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News Network
February 14,2020

London, Feb 14: Liquor tycoon Vijay Mallya once again asked the Indian banks to take back 100 per cent of the principal amount owed to them at the end of his three-day British High Court appeal on Thursday against an extradition order to India.

The 64-year-old former Kingfisher Airlines boss, wanted in India on charges of fraud and money laundering amounting to an alleged Rs 9,000 crores in unpaid bank loans, said the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) are fighting over the same assets and not treating him reasonably in the process.

“I request the banks with folded hands, take 100 per cent of your principal back, immediately,” he said outside the Royal Courts of Justice in London.

“The Enforcement Directorate attached the assets on the complaint by the banks that I was not paying them. I have not committed any offenses under the PMLA (Prevention of Money Laundering Act) that the Enforcement Directorate should suo moto attach my assets," he said.

"I am saying, please banks take your money. The ED is saying no, we have a claim over these assets. So, the ED on the one side and the banks on the other are fighting over the same assets,” he added.

Asked about heading back to India, he noted: “I should be where my family is, where my interests are.

"If the CBI and the ED are going to be reasonable, it’s a different story. What all they are doing to me for the last four years is totally unreasonable.”

Lord Justice Stephen Irwin and Justice Elisabeth Laing, the two-member bench presiding over the appeal, concluded hearing the arguments in the case and said they will be handing down their verdict at a later date after considering the oral as well as written submissions in the “very dense” case over the next few weeks.

On a day of heated arguments between Mallya’s barrister, Clare Montgomery, and Crown Prosecution Service (CPS) counsel Mark Summers, arguing on behalf of the Indian government, both sides clashed over the prima facie case of fraud and deception against Mallya.

“We submit that he lied to get the loans, then did something with the money he wasn’t supposed to and then refused to give back the money. All this could be perceived by a jury as patently dishonest conduct,” said Summers.

“What they [Kingfisher Airlines] were saying [to the banks] about profitability going forward was knowingly wrong,” he said, as he took the High Court through evidence to counter Mallya’s lawyers’ claims that Westminster Magistrates Court Judge Emma Arbuthnot had fallen into error when she found a case to answer in the Indian courts against Mallya.

Mallya, who remains on bail on an extradition warrant, is not required to attend the hearings but has been in court to observe the proceedings since the three-day appeal opened on Tuesday. A key defence to disprove a prima facie case of fraud and misrepresentation on his part has revolved around the fact that Kingfisher Airlines was the victim of economic misfortune alongside other Indian airlines.

However, the CPS has argued that “there is enough in the 32,000 pages of overall evidence to fulfil the [extradition] treaty obligations that there is a case to answer”. “There is not just a prima facie case but overwhelming evidence of dishonesty… and given the volume and depth of evidence the District Judge [Arbuthnot] had before her, the judgment is comprehensive and detailed with the odd error but nothing that impacts the prima facie case,” said Summers.

At the start of the appeal, Mallya’s counsel claimed Arbuthnot did not look at all of the evidence because if she had, she would not have fallen into the multiple errors that permeate her judgment. The High Court must establish if the magistrates’ court had in fact fallen short on a point of law in its verdict in favour of extradition.

Representatives from the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI), as well as the Indian High Commission in London, have been present in court to take notes during the course of the appeal hearing.

Mallya had received permission to appeal against his extradition order signed off by former UK home secretary Sajid Javid last February only on one ground, which challenges the Indian government's prima facie case against him of fraudulent intentions in acquiring bank loans.

At the end of a year-long extradition trial at Westminster Magistrates’ Court in London in December 2018, Judge Arbuthnot had found “clear evidence of dispersal and misapplication of the loan funds” and accepted a prima facie case of fraud and a conspiracy to launder money against Mallya, as presented by the CPS on behalf of the Indian government.

Mallya remains on bail since his arrest on an extradition warrant in April 2017 involving a bond worth 650,000 pounds and other restrictions on his travel while he contests that ruling.

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Agencies
March 22,2020

Mumbai, Mar 22: The total number of coronavirus positive patients in Maharashtra has risen to 74 with 10 more positive cases reported in the last 24 hours, officials said.

Of the 10 new cases, 6 are in Mumbai and 4 in Pune, they said on Sunday.

Earlier this week, a Covid-19 patient died in Mumbai.

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