Not scared of Pakistan's nuclear bogey, says Lieutenant General Naravane

New Delhi, Jun 16: Jet fuel or ATF price on Tuesday was hiked by 16.3 per cent while petrol price was increased by 47 paise per litre and that of diesel by a record 93 paise on the back of firming international oil rates.

Aviation turbine fuel (ATF) price was hiked by ₹5,494.5 per kilolitre (kl), or 16.3 per cent, to ₹39,069.87 per kl in the national capital, according to a price notification by state-owned oil marketing companies.

This is the second straight increase in ATF price this month. Rates were hiked by a record 56.5 per cent (₹12,126.75 per kl) on June 1.

Simultaneously, petrol and diesel prices were hiked for the 10th day in a row.

Petrol price in Delhi was hiked to ₹76.73 per litre from ₹76.26, while diesel rates were increased to ₹75.19 a litre from ₹74.26, the price notification said.

In 10 hikes, petrol price has gone up by ₹5.47 per litre and diesel by Rs 5.8 a litre.

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

The hike in diesel rates is the highest daily increase since the state-owned fuel retailers started daily revision in rates in May 2017.

Hike for 10th consecutive day

Tuesday’s increase in petrol and diesel price marks the 10th straight day of rise in rates since oil companies on June 7 restarted revising prices in line with costs, after ending an 82-day hiatus.

The freeze in rates was imposed in mid-March soon after the government hiked excise duty on petrol and diesel to shore up additional finances.

Oil PSUs Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) instead of passing on the excise duty hikes to customers adjusted them against the fall in the retail rates that was warranted because of fall in international oil prices.

The June 1 hike in jet fuel price had come after seven consecutive reductions in rates since February. ATF price in Delhi before the reduction cycle began in February was ₹64,323.76 per kilolitre, which got reduced to ₹21,448.62 last month.

Industry officials said the hike was necessitated because benchmark international rates have bounced back from a two-decade low.

While ATF prices are revised on 1st and 16th of every month, petrol and diesel prices are revised on a daily basis.

Oil companies used to revise ATF prices on the first of every month, but adopted fortnightly revisions on March 21 to pass on the benefit of falling international oil prices to airlines.

Jan 22: Microsoft Corp’s chief executive officer said he worries that mistrust between the US and China will increase technology costs and hurt economic growth at a critical time.

Using the $470 billion semiconductor industry as an example of a sector that is already globally interconnected, Satya Nadella said the two countries will have to find ways to work together, rather than creating different supply chains for each country.

“All you are doing is increasing transaction costs for everybody if you completely separate,” Nadella said in an interview with Bloomberg News Editor-in-Chief John Micklethwait at Bloomberg’s The Year Ahead conference in Davos. That’s a concern as the executive said the world is on the cusp of a revolution around technology and artificial intelligence.

“If we take steps back in trust or increase transaction costs around technology, all we are doing is sacrificing global economic growth,” he said.

The agreement signed last week between the US and China was “not sufficient,” said Nadella, but represented “progress” on the issue of intellectual property protections for US technology companies working with China.

Nadella said he worries about the development of two separate internets, noting that to some degree they already exist “and they will get amplified in the future” with massive technology companies already in place in China.

The viewpoint clashes with Microsoft co-founder Bill Gates, who has been sceptical about the idea that ongoing US-China trade tensions could ever lead to a bifurcated system of two internets.

China and the US are the two leading AI superpowers, however the cooling political relations between them have slowed the international collaboration.

Nadella also warned that countries that fail to attract immigrants will lose out as the global tech industry continues to grow. The CEO has previously voiced concern about India’s Citizenship Amendment Act, calling it “sad.”

“However, Nadella said he remained hopeful.

“The fact that there is a 70-year history of nation-building, I think it’s a very strong foundation. I grew up in that country. I’m proud of that heritage. I’m influenced by that experience.”

New Delhi, Feb 22: China is delaying grant of clearance to India's proposal to send an Indian Air Force flight to carry relief material for people affected by coronavirus in the neighbouring country and bring back Indians from its city of Wuhan, official sources said Saturday.

India was to send a C-17 military transport aircraft to Wuhan, the epicentre of the coronavirus outbreak, on February 20 but the plane could not take off as permission was not granted for the flight.

"China is deliberately delaying grant of clearance for the evacuation flight," a high-level source said.

The aircraft was to carry a large consignment of medical supplies to China and bring back more Indians from Wuhan.

Sources said the Chinese side continued to maintain that there was no delay in granting permission for the flight to go, but "inexplicably" the clearance has not been given.

In a letter to President Xi Jinping earlier this month, Prime Minister Narendra Modi conveyed India's solidarity to the people and government of China in meeting the challenge of the coronavirus outbreak and offered to provide assistance to the country.

India then put together relief supplies in pursuance of Modi's commitment as a token of India's solidarity, particularly in the 70th year of the anniversary of diplomatic relations between the two countries.

"These supplies have been offered even as India faces tremendous shortage itself, given our ethos of helping others in their hour of need," said a source aware of the issue.

The items being supplied are gloves, surgical masks, feeding pumps and defibrillators based on the requirements as indicated by the Chinese side.

India's national carrier Air India has already evacuated around 640 Indians from Wuhan in two separate flights.

According to estimates, over 100 Indians are still living in Wuhan. A sizeable number of countries have evacuated their citizens from China and restricted movement of people and goods to and from the country in view of the massive outbreak of coronavirus there.

Indian nationals in Wuhan continue their long wait for the flight. The delay is causing them and their family members in India tremendous mental anguish, said the sources.

They said relief and evacuation flights from other countries including by France are allowed to operate by China but the permission has not come through in India's case.

"Are they not interested in Indian aid provided as our token of support? Why are they creating roadblock in evacuating our nationals from Wuhan and putting them under hardship and mental agony?" said a person aware of the issue.