Petrol prices reduced by Rs. 2.46 per litre from midnight

June 29, 2012

New Delhi, June 29: Oil companies have cut petrol prices by Rs. 2.46 per litre, starting midnight. The cut is based on global crude prices and the exchange rate of the rupee vs the dollar. The reduction in price varies from Rs. 2.46 per litre to Rs. 3.22 per litre, depending upon local taxes in different states.

Petrol now costs Rs. 67.78 a litre in Delhi and 73.35 per litre in Mumbai. In other metros, Kolkata will pay 72.24 per litre and Chennai will pay Rs. 72.27 per litre. Hyderabad and Bangalore saw the maximum reduction in petrol prices - Rs. 3.22 per litre.

On May 23, India saw its steepest ever price hike of Rs. 6.28 plus local taxes. This is the second reduction in petrol prices since that hike. On June 3, oil companies announced a reduction of Rs.1.68 per litre in petrol prices, excluding taxes. In Delhi, after including 20 per cent VAT, the reduction was Rs. 2 a litre.

But West Bengal Chief Minister Mamata Banerjee warned that prices will be increased once the President election will be over. Ms Banerjee, who has in the past attacked the government for allowing oil companies to raise petrol prices, said "The price of crude oil has decreased by Rs. 100. The price of petrol should have been cut by Rs. 10 to Rs. 30 per litre." The West Bengal Chief Minister is a member of the UPA but has been estranged from the coalition over its decision to field Pranab Mukherjee as its candidate for President of India. (Read more)

Even after today's reduction, there exists a scope for cutting rates by a further Rs. 1 per litre as current revision was done at average international oil rate in the first fortnight of June. Global oil prices have fallen by eight per cent since then.

State-owned oil firms have abandoned the practice of revising rates of petrol on the 1st and 16th of every month and from now on will do so on any date so as to deter petrol pump dealers building positions.

Petrol pumps at some places run dry as owners stop taking supplies from companies if a reduction in price is anticipated. Similarly, if an increase in rate is expected, pump dealers start hoarding supplies.

Indian Oil Corp, the nation's largest fuel retailer, said the three oil firms are projected to lose a record Rs. 151,000 crore in revenue on sale of diesel, domestic LPG and kerosene, whose rates have not been revised in past one year.

The existing and revised selling prices for metros are given below:

Petrol_Prices_to_be_cut_gfx_June28_new

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News Network
April 27,2020

New Delhi, Apr 27: Prime Minister Narendra Modi on Monday held a video conference with chief ministers to discuss the situation arising due to the coronavirus pandemic in the country, which has been under a lockdown since March 25 to contain the spread of the virus, amid indications that the interaction would also focus on a graded exit from the ongoing lockdown.

This is Modi's fourth such interaction with state chief ministers since March 22 when he discussed coronavirus situation and steps taken both by the Centre and the states to contain the pandemic.

Two days later on March 24, Modi announced a 21-day nationwide lockdown. He extended the lockdown by 19 days on April 14, the last day of the initial three week shutdown, till May 3.

Sources in the government had on Sunday indicated that besides discussing the way forward in dealing with the pandemic, the prime ministers and chief ministers could also focus on a "graded" exit from the lockdown.

In a tweet on Monday, the Prime Minister's Office said Modi and the chief ministers will be discussing aspects relating to the COVID-19 situation.

In his monthly 'Mann ki Baat' radio address on Sunday, the prime minister said the country is in the middle of a 'yudh' (war) and asserted that people have to continue being careful and take precautions.

His note of caution came amidst gradual exemptions being granted by the Centre and states to revive economic activities.

"I urge you not to get overconfident. You should in your over-enthusiasm not think that if the coronavirus has not yet reached your city, village, street or office, it is not going to reach now. Never make such a mistake. The experience of the world tells us a lot in this regard," Modi said while referring to a popular Hindi idiom 'Sawdhani hati, durghatna ghati' (disaster strikes when you lower your concentration).

The Centre and the state governments have been giving gradual exemptions to boost economic activities as also to provide relief to people as some states want further relaxation in areas which have seen few or no coronavirus cases.

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News Network
March 30,2020

New Delhi, Mar 30: The government on Monday said there was no plan to extend the 21-day lockdown which came intro force on Tuesday midnight.

The Press Information Bureau (PIB) of the Ministry of Information and Broadcasting tweeted, saying Cabinet Secretary Rajiv Gauba has denied media reports claiming that the government will extend the lockdown.

"There are rumours & media reports, claiming that the Government will extend the #Lockdown21 when it expires. The Cabinet Secretary has denied these reports, and stated that they are baseless," it said.

The 21-day lockdown is aimed at checking the spread of the coronavirus.

Following the lockdown, there has been a massive exodus of migrant workers from big cities to their villages after being rendered jobless.

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Agencies
May 6,2020

New Delhi, May 6: The Central Board of Indirect Taxes and Customs (CBIC) has extended the validity of electronic way (E-way) bills, whose expiry date fell between March 20 and April 15, till May 31.

"Notification No. 40/2020-Central Tax issued to extend the validity of e-way bills till May 31 for all those e-way bills which were generated on or before March 24, 2020 and had expiry between the period from March 20 to April 15, 2020," the CBIC tweeted on Tuesday.

E-way bill is produced by transporters and businessmen before a Goods and Services Tax (GST) inspector for moving goods worth over Rs 50,000 from one state to another.

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