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
January 31,2020

Jan 31: President Ram Nath Kovind on Friday hailed the contentious Citizenship Amendment Act as "historic" in his address to joint sitting of both houses of Parliament, prompting protests by some opposition members.

He also said that debate and discussion on any issue strengthens democracy while violence during protests weaken it.

"The Citizenship Amendment Act is a historic law. It has fulfilled wishes of our founding fathers including Mahatma Gandhi," he said.

"Debate and discussions strengthen democracy, but violence during protests weaken democracy," he said without directly referring to the anti-CAA protests in the country some of which have witnessed violence.

In a reference to abrogation of Article 370, Kovind said there is happiness among people of India that people in Jammu and Kashmir and Ladakh have got rights on par with the rest of the country.

The president said Parliament has created record in the first seven months of the new government headed by Narendra Modi by enacting several landmark legislations.

"My government is taking strong steps for making this decade as India's decade and this century as India's century," he said.

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News Network
April 8,2020

New Delhi, Apr 8: The death toll due to the novel coronavirus rose to 149 and the number of cases to 5,194 in the country on Wednesday, according to the Union Health Ministry.

While the number of active COVID-19 cases is 4,643, as many as 401 people were cured and discharged and one had migrated, it said.

The total number of cases include 70 foreign nationals.

According to the ministry's data updated at 9 a.m., 25 new deaths have been reported since Tuesday.

Sixteen deaths were reported from Maharashtra, two each from Delhi, West Bengal, Haryana and Tamil Nadu and one from Andhra Pradesh.

Maharashtra has reported the most coronavirus deaths at 64, followed by Gujarat  and Madhya Pradesh at 13 each and Delhi at 9.

Telengana, Punjab and Tamil Nadu have reported seven fatalities each.

West Bengal has registered five deaths, Karnataka and Andhra Pradesh have reported four each, Uttar Pradesh, Haryana and Rajasthan have recorded three deaths each.

Two deaths each have been reported from Jammu and Kashmir and Kerala.

Bihar, Himachal Pradesh and Odisha reported one fatality each, according to the health ministry data.

However, a PTI tally of figures reported by various states as on Tuesday 9.45 p.m. showed 5,192 testing positive across the country and at least 162 deaths.

There has been a lag in the Union Health Ministry figures, compared to the numbers announced by different states, which officials attribute to procedural delays in assigning the cases to individual states.

The highest number of confirmed cases in the country are from Maharashtra at 1018, followed by Tamil Nadu at 690 and Delhi with 576 cases.

Telengana has reported 364 COVID-19 cases followed by Kerala at 336.

Rajasthan has 328 cases, Uttar Pradesh has 326 and Andhra Pradesh reported 305 coronavirus cases.

Novel coronavirus cases have risen to 229 in Madhya Pradesh, 175 in Karnataka and 165 in Gujarat.

Haryana has 147 cases, Jammu and Kashmir has 116, West Bengal has 99 and Punjab has 91 positive patients so far. Odisha has reported 42 coronavirus cases.

Thirty- eight people were infected with the virus in Bihar while Uttarakhand has 31 patients and Assam 27.

Chandigarh  and Himachal Pradesh have 18 cases each while Ladakh has 14 positive patients so far.

Ten cases each have been reported from the Andaman and Nicobar Islands and Chhattisgarh. 

Goa has reported seven COVID-19 infections, followed by Puducherry at five cases. Jharkhand has reported four cases and Manipur two. 

Tripura, Mizoram and Arunachal Pradesh have reported one case each.

"State-wise distribution is subject to further verification and reconciliation," the ministry said on its website.

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News Network
March 11,2020

Mar 11: Thirteen of the 22 rebel MLAs in Madhya Pradesh have given an assurance that "they are not leaving the Congress", senior party leader Digvijaya Singh said on Thursday while expressing confidence that the Kamal Nath-led government in the state will win a floor test.

"We are not keeping quiet. We are not sleeping," Singh told PTI, a day after Congress leader from the state Jyotiraditya Scindia quit the Congress and 22 MLAs submitted their resignations from the assembly in Madhya Pradesh.

Scindia was offered the post of Madhya Pradesh deputy chief minister but wanted his nominee, Singh said. However, Kamal Nath refused to accept a "chela", he said.

Scindia, he said, could have been a Congress nominee to the Rajya Sabha but "only Modi-Shah" can give a Cabinet post to the "over-ambitious" leader.

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