Petrol price cut; diesel's hits poll code, policy bump

October 1, 2014

Petrol price cut

New Delhi, Oct 1: Good times are rolling well into the festive season for petrol consumers. State-run fuel retailers on Tuesday reduced the fuel's price by approximately 54 paise a litre, excluding state taxes, marking the fourth cut since April 1.

But the wait for a much-anticipated reduction in diesel price, the first in four years, got longer due to the poll code and lack of clarity on whether it requires the Cabinet's approval.

The poll code did not apply to petrol because its pricing has been deregulated since January 2013 and has been revised every fortnight in tune with changing international prices of crude, motor spirit - trade name for petrol - in the regional trading hubs as well as the rupee's exchange rate against the dollar.

The latest cut will translate into a final reduction of 65 paise a litre in Delhi after including VAT. The reduction will vary in states according to the prevailing state taxes.

Announcing the reduction, market leader IndianOil said the move followed continued downward trend in international prices of petrol. But the news came with a cautionary note over a depreciating trend in the rupee exchange rate.

Diesel price has been revised upward by about 50 paise per litre every month since January 2013. This followed a Cabinet decision to raise prices in "small doses" every month till the gap between the government-capped retail price and production cost - called under-recovery - was wiped out.

These marginal price increases, together with declining global prices and improved rupee exchange rate, managed to completely wipe out the subsidy element and showed an "over-recovery" of 35 paise a litre since September 16. The margin is believed to have risen further in the subsequent fortnight.

Naturally, there was widespread anticipation of a price cut at the fuel's monthly review on Tuesday. But the poll code due to elections in Maharashtra and Haryana came in the way. The oil ministry is believed to have referred the issue to the Election Commission, which is yet to revert.

Besides, there was also the question that reducing diesel price may require Cabinet approval since the government controls the fuel and the Cabinet decision to raise its price did not have a provision for reduction.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 16,2020

Thiruvananthapuram, Apr 16: Seven fresh cases of COVID-19 were reported from Kerala on Thursday, taking the total number of active cases to 147 in the state,even as over 88,000 people are under observation.

On Wednesday, only one positive case had been reported, thelowest in weeks.

While Kannur reported four cases, two were from Kozhikode and one from Kasaragod, Chief Minister Pinarayi Vijayan told reportershere.

Five of those affected had come from abroad, while two have got it through contact with infected people.

Samples of 27 people, including 24 from the worst affected Kasaragod, have turned negative on Thursday.

He said 394 coronavirus cases have so farbeen detected from the state.

Over 80,000 people are under observation, including 532 in various hospitals.

Vijayan said 17,400 samples have been sent for testing of which 16,459 have returned negative.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 22,2020

New Delhi, June 22: Former Prime Minister Manmohan Singh on Monday asked Prime Minister Narendra Modi to be “mindful of the implication of his words” as a controversy raged over his “no intrusion” remark about the violent face-off with Chinese troops in the Galwan Valley.

“The Prime Minister must always be mindful of the implications of his words and declarations on our Nation’s security as also strategic and territorial interests,” Singh said in a statement here as Chinese media welcomed Modi’s ‘no intrusion’  remarks contending that it may lead to a de-escalation of tensions between China and India.

Congress has been maintaining that Modi’s assertions at Friday’s all-party meeting that neither was there any intrusion nor was any Indian post captured ran counter to the statements made by the Indian Army and the External Affairs Ministry.

Singh said the prime minister cannot allow his words to be used by China as a vindication of its position and all organs of the government should work together to tackle this crisis and prevent it from escalating further.

“We remind the Government that disinformation is no substitute for diplomacy or decisive leadership. The truth cannot be suppressed by having pliant allies spout comforting but false statements,” the former prime minister said.

Singh said the prime minister and the government should rise to the occasion to ensure justice for Colonel B Santosh and the army jawans who made the supreme sacrifice and resolutely defended the nation’s territorial integrity.

“To do any less would be a historic betrayal of the people’s faith,” the former prime minister said.

“At this moment, we stand at historic crossroads. Our Government’s decisions and actions will have serious bearings on how the future generations perceive us,” Singh said.

Singh said China was brazenly and illegally seeking to claim parts of Indian territory such as the Galwan Valley and the Pangong Tso Lake by committing multiple incursions between April 2020 till date.  

“We cannot and will not be cowed down by threats and intimidation nor permit a compromise with our territorial integrity,” said Singh. 

The former prime minister said this was a moment where “we must stand together as a nation and be united in our response to this brazen threat.”

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 21,2020

Patna, Feb 21: The country is paying the price for failure to send Muslims to Pakistan and bring Hindus to India after the Islamic state came into being at the time of Independence, Union minister Giriraj Singh has said, triggering a fresh controversy.

The BJP leader made the remark in Purnea district in the Seemanchal region of Bihar which has a sizeable Muslim population and where the Begusarai MP was canvassing in favor of the Citizenship (Amendment) Act.

Highlighting the need for such a legislation, he told reporters late Thursday "when our forefathers were fighting for Independence from British rule, Jinnah was pushing for the creation of an Islamic state".

"Our forefathers, however, committed a mistake. Had they ensured that all our Muslim brothers were sent to Pakistan and Hindus brought here, the need for such a move (CAA) would not have arisen. This did not happen and we have paid a heavy price for it," the outspoken BJP leader said.

The CAA, which seeks to fast-track granting citizenship to non-Muslim refugees from Pakistan, Bangladesh and Afghanistan who might have fled their home countries because of religious persecution, has become a major bone of contention since it is feared that a country-wide National Register for Citizens (NRC) may follow.

The Narendra Modi government, which had formerly hinted that a country-wide NRC was on the anvil, seems to have put it on the backburner though a section of citizens across the country, especially Muslims, have been organizing protests out of fear that, if implemented, the NRC may result in a large number of people becoming stateless.

Singh has often been in the crosshairs of the opposition for placing his foot in the mouth. This time, however, his words were frowned upon even by NDA ally Lok Janshakti Party, founded by his cabinet colleague Ram Vilas Paswan and now headed by his son Chirag Paswan.

The young LJP chief, who kicked off a state-wide "Bihar First-Bihari First" yatra here Friday morning, to project the NDAs progressive face ahead of the assembly polls due later this year, expressed strong disapproval of Singh's utterance and noted the coalition had to suffer in the Delhi polls because of "divisive" remarks by BJP leaders.

"We are an NDA constituent but many times our coalition partners say things which the LJP does not at all agree with. This one (Giriraj Singhs statement) is such an example. Had a person of my party spoken in this fashion, I would have taken responsibility and acted," Paswan said.

He said he had placed his view repeatedly on record that the coalition had to suffer on account of divisive remarks, Paswan said in apparent reference to inflammatory speeches by BJP leaders like Union minister Anurag Thakur and BJP MP Parvesh Verma, among others.

"The people of Delhi voted on the basis of performance. We wish they do so again in Bihar and real issues don't get drowned in political cacophony.

"The Nitish Kumar government has accomplished a lot, though much more needs to be achieved. We wish to reach out to people with our vision for the future, said Paswan, before he embarked on the yatra on a customized bus decorated like a chariot in front of which he offered prayers and smashed a coconut.

Meanwhile, Giriraj Singh who loves to wear his Hindu nationalism on the sleeves was busy joining issue with Asaduddin Owaisi's AIMIM which has been under attack for controversial remarks by its leader Waris Pathan.

Sharing video of an old speech by Owaisis brother Akbaruddin which had landed him in jail, besides Pathan's recent remark, Singh asked the opposition RJD-Congress combine in Bihar and the "tukde tukde gang" whether they wanted to "convert India into Pakistan".

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.