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Moily rules out cap on gas price

July 12, 2013

Moily_rulesNew Delhi, Jul 12: Oil minister M Veerappa Moily on Thursday unequivocally ruled out any rethink — including putting a cap on price — in the government on the decision to usher in a new pricing regime that is expected to double the cost of domestic gas from April.

Moily said the new price arrived through the formula would apply uniformly to all gas producers, implying Reliance Industries (RIL) would not be asked to sell the unmet commitment — quantity of gas it promised but failed to deliver — at the present rate of $4.2 per unit.

"There is no thinking on part of the government for any review or reconsideration of the decision of the CCEA (Cabinet Committee on Economic Affairs). Let me make it very clear: There is no confusion, there is no vagueness. And I don't think there is scope for any interpretation whatsoever," Moily told reporters.

The minister's statement came in the backdrop of the finance ministry sending six posers, based on media reports, regarding the CCEA's June 27 decision to approve the formula suggested by a panel under PM's Economic Advisory Council (PMEAC) chief C Rangarajan.

Two of the key issues were: Should there be a ceiling to prevent domestic gas prices from a runaway spike once the new pricing formula comes into effect?

Should RIL be asked to maintain the present rate for the unmet quantity of gas? Moily said the finance ministry did not raise these issues when the oil ministry had sought its views twice for incorporation into the Cabinet note.

"The office memorandum dated July 4 from the department of expenditure, ministry of finance... has enclosed two editorials of newspapers and illustrated some of the issues in these editorials. That cannot be taken as objective opinion of the ministry of finance. It cannot (also) be considered as query raised by the ministry of finance," Moily said.

The minister said the price of gas would be $6.8 per unit according to the formula and not $8.4.

What Moily left unsaid is that this would be the price if the formula was to be applied today. But when the formula is applied in April, the price would be around $8.4 per unit unless prices of liquid gas imports drop dramatically in-between.

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News Network
August 7,2020

Kozhikode: An Air India Express flight from Dubai with 190 people on board overshot the Kozhikode tabletop runway on landing there today. The Boeing 737 “fell off” the runway into the valley, broke into two causing death and devastation. 

According to reports, around 20 people were dead including two pilots.

An Air India spokesperson said: “Air India Express flight IX 1344 operated by Boeing 737 aircraft from Dubai to Calicut overshot the runway at Kozhikode at 7.41 pm Friday. No fire reported at the time of landing. There are 174 passengers, 10 infants, two pilots and five cabin crew on board. Rescue operations are on and passengers are being taken to hospital for medical care. We will soon share the update in this regard.”

The Directorate General of Civil Aviation (DGCA) is probing this accident. “Prima facie, the aircraft landed beyond the touchdown point and fell into a valley. It has broken into two. We suspect some casualties. More information is awaited,” said a senior DGCA official.

Taking to twitter, defence minister Rajnath Singh wrote: “Devastating news from Kozhikode, Kerala. I am deeply anguished by the loss of lives due to an accident carrying several passengers on Air India flight. In this hour of grief, my thoughts are with the bereaved families. I pray for the speedy recovery of the injured.”

Foreign minister S Jaishankar tweeted: “Deeply distressed to hear about the Air India Express tragedy at Kozhikode. Prayers are with the bereaved families and those injured. We are ascertaining further details.”

While, senior BJP leader from Kerala K J Alphons tweeted: “Second tragedy of the day in Kerala: Air India Express skids off the run way at Kozhikode, front portion splits , pilot dies and lots of passengers injured . All passengers evacuated. Very lucky the aircraft didn’t catch fire.”

More details are awaited.

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News Network
July 19,2020

New Delhi, Jul 19: India's Covid-19 case fatality rate is "progressively falling" and is currently at 2.49 per cent, which is one of the lowest in the world, the Union Health Ministry said on Sunday, crediting efficient clinical management of hospitalised cases for it.

There are 29 states and union territories with a case fatality rate (CFR) lower than India's average, with five of them having a CFR of zero and 14 having fatality rate of less than 1 per cent.

The focused efforts of the Centre and state and UT governments on efficient clinical management of hospitalised cases have ensured that India's case fatality rate has fallen below 2.5 per cent, the ministry said.

With effective containment strategy, aggressive testing and standardized clinical management protocols based on holistic standard of care approach, the CFR has significantly dipped, it said.

"The CFR is progressively falling and currently, it is 2.49 per cent. India has one of the lowest fatality rates in the world," the ministry said.

From 2.82 per cent over a month earlier, India's Covid-19 case fatality rate declined to 2.72 per cent on July 10 and has further reduced to 2.49 per cent presently.

Under the guidance of the Centre, the state and UT governments have ramped up testing and hospital infrastructure by combining public and private sector efforts, the ministry said.

Many states have conducted the population surveys to map and identify the vulnerable population like the elderly, pregnant women and those with co-morbidities.

This, with the help of technological solutions like mobile apps, has ensured keeping the high-risk population under continuous observation, thus aiding early identification, timely clinical treatment and reducing fatalities, the ministry said.

"At the ground level, frontline health workers like ASHAs (Accredited Social Health Activists) and ANMs (Auxiliary Nursing Midwives) have done a commendable job of managing the migrant population and to enhance awareness at the community level.

"As a result, there are 29 States and UTs with CFR lower than India's average. This shows commendable work done by public health apparatus of the country," the ministry said.

Manipur, Nagaland, Sikkim, Mizoram, Andaman and Nicobar Islands have zero case fatality rate.

States and UTs having a CFR below the national average include Tripura (0.19 pc),  Assam (0.23 pc), Kerala (0.34 pc), Odisha (0.51 pc), Goa (0.60 pc), Himachal Pradesh (0.75 pc), Bihar (0.83 pc), Telangana (0.93 pc), Andhra Pradesh (1.31 pc), Tamil Nadu (1.45 pc), Chandigarh (1.71 pc), Rajasthan (1.94 pc), Karnataka (2.08 pc) and Uttar Pradesh (2.36 pc).

India saw a record single-day jump of 38,902 Covid-19 cases pushing its tally to 10,77,618 on Sunday, while the total number of recoveries increased to 6,77,422.

A total of 23, 672 patients have recuperated in the past 24 hours, the highest so far in a day, according to the health ministry data updated at 8 AM.

According to the Indian Council of Medical Research (ICMR), a cumulative total of 1,37,91,869 samples have been tested up to July 18 with 3,58,127 samples being tested on Saturday. 

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News Network
June 10,2020

New Delhi, Jun 10: Petrol price on Wednesday was hiked by 40 paise per litre and diesel by 45 paise, the fourth straight daily increase in rates after oil PSUs ended an 82-day hiatus in rate revision. Petrol price in Delhi was hiked to Rs 73.40 per litre from Rs 73, while diesel rates were increased to Rs 71.62 a litre from Rs 71.17, according to a price notification of state oil marketing companies.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

This is the fourth daily increase in rates in a row since oil companies on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus.

In four hikes, petrol price has gone up by Rs 2.14 per litre and diesel by Rs 2.23.

Latest petrol, diesel prices in top cities:

New Delhi: Petrol ₹73.40. Diesel ₹71.62

Gurgaon: Petrol ₹72.86. Diesel ₹64.90

Mumbai: Petrol ₹80.40. Diesel ₹70.35

Chennai: Petrol ₹77.43. Diesel ₹70.13

Hyderabad: Petrol ₹76.20. Diesel ₹70b

Bengaluru: Petrol ₹75.77. Diesel ₹68.09

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