Diesel demand drops first time in ten years: Indian Oil Corporation

December 6, 2013

Diesel-demandNew Delhi, Dec 6: Diesel demand has declined for the first time in over a decade as monthly price increase and rise in power generation pulled down demand, Indian Oil chairman R S Butola said on Thursday.

"This year, there has been 0.8-1% de-growth," Butola said at the 3rd World Energy Summit here. Improved power generation reduced use of generator sets, which resulted in lesser demand for diesel.

But, the bigger reason is the move to deregulate diesel rates through small monthly increases. "Small adjustments of 50 paise every month has brought some parity with cost," Butola said. Diesel rates have risen by a cumulative Rs 6.62 per litre since January, which has also lead to a drop in demand for diesel cars.

Diesel is India's most-consumed fuel, accounting for close to 45% of the demand of total petroleum products. Since 2003-2004, the demand for the main transportation fuel had been growing at a healthy rate of 6-8%.

Butola said petrol consumption had dropped when the fuel was deregulated in June 2010 but diesel continued to see rise in consumption as it was heavily subsidized, thereby discouraging people to use it optimally. Now petrol is at par with its cost of production but the current selling price of diesel is still Rs 9.99 a litre less than cost. "We believe that market forces need to be allowed to have proper inter-play (on demand and consumption)," he said.

While diesel sales dropped in the first seven months of the fiscal, petrol consumption rose by 10% to 9.1 million tonnes. But, overall fuel demand during the April-October period was largely unchanged at 90.6 million tonnes against 90.2 million tonnes in the same period last year.

Besides losing Rs 9.99 a litre on diesel, state-run fuel retailers are losing Rs 36.2 per litre on kerosene sold through ration shops and Rs 542.5 per cylinder of cooking gas.

The slowdown in economic growth could also be a factor in dampening demand. Growth slowed to a decade low of 5% in 2012-13 and is expected to be in the same territory in the current fiscal year as well. Industrial growth has also remained sluggish.

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May 21,2020

Srinagar, May 21: Two Border Security Force (BSF) personnel were killed and their weapons snatched by militants in the Pandach area on the outskirts of Srinagar yesterday.

According to IGP Kashmir Vijay Kumar, the two BSF jawans, who were on road surveillance deployment, were fired upon by two of the three terrorists on a motorcycle around 5:15 pm on the 90-Ft Road at Pandach, near Soura. 

They were critically injured and later succumbed to injuries. The terrorists escaped after taking away one AK rifle and one INSAS. Efforts were underway to trace the terrorists.

He said that two jawans, Constable Rana Mandol and Constable Ziaul Haque of ‘C’ company of 37th battalion, were injured and they later succumbed.

“The terrorists managed to take away the weapons of the martyrs. Area has been cordoned off and the search for the terrorists is on”, he said.

Residents around the spot said that the two soldiers were buying chicken for Iftar from a mutton dealer, around 300 meters away from their deployment location when three militants on a motorcycle stopped and opened fire on them.

Medical Superintendent SKIMS Dr Farooq Jan said that both the jawans were brought dead to the tertiary care hospital.

Senior Police officials said it was a “clear case of security lapse” as the two jawans had left their spot of deployment on Srinagar-Kargil-Leh road and gone to a shop 500 metres away on a different road.

They said that possibility of terror attacks and subsequently claims by the new outfit TRF had been flashed to all forces earlier this week.

The terror strike in the capital city has occurred a day after an encounter in downtown Srinagar, where two Hizbul Mujahideen militants, including the top wanted Junaid Sehrai, had been killed on Tuesday.

In the last one month, five Army and Police personnel and two militants had got killed in an encounter in Handwara area of Kupwara, a day before three CRPF men were killed in another attack.

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News Network
July 12,2020

Hubli, Jul 12: Union Parliamentary Affairs Minister Pralhad Joshi on Sunday said that the Monsoon session of Parliament will be held with the government ensuring all health precautions for COVID-19 are followed.

"Monsoon session (of Parliament) will certainly be held. The government will do all the formalities and take all precautions," the Parliamentary Affairs Minister told reporters here.

Earlier in March, the Parliament had passed 12 bills during the curtailed budget session with Lok Sabha passing 15 bills and Rajya Sabha 13.
During the session, 19 bills were introduced in the two Houses (18 in Lok Sabha and 1 in Rajya Sabha). The two Houses were adjourned sine die after completion of the budgetary process including passage of the Finance Bill.

The second part of the session was curtailed in view of the threat of the spread of coronavirus.
On June 1, Rajya Sabha Chairman M Venkaiah Naidu and Lok Sabha Speaker Om Birla had held a detailed discussion on holding the ensuing monsoon session of Parliament in view of the coronavirus-induced norm of social distancing, sources said.

They said the leaders have taken note of reports suggesting that the fight against COVID-19 is likely to be a long haul.

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May 7,2020

May 7: Accusing the BJP government in Karnataka of "medieval barbarism" and treating migrants as worse than "bonded labourers", CPI(M) general secretary Sitaram Yechury on Wednesday hit out at the state's decision to stop workers from returning to their homes in different parts of the country citing requirements of the construction sector.

The Karnataka government has withdrawn its request to the railways to run special trains to ferry migrant labourers to their home states, hours after builders met Chief Minister B S Yediyurappa to apprise him of the problems the construction sector will face in case they left.

"This is worse than treating them as bonded labour. Does the Indian constitution exist? Are there any laws in the country? This BJP state government is throwing us back to medieval barbarism. This will be stoutly resisted,” Yechury said in a tweet.

The railways is running Shramik Special trains to ferry to their home towns migrants who were stranded at their places of work during the lockdown.

So far, it has run more than 115 such trains.

The Principal Secretary in the Revenue Department N Manjunatha Prasad, who is the nodal officer for migrants, had requested the South Western Railways on Tuesday to run two train services a day for five days except Wednesday, while the state government wanted services thrice a day to Danapur in Bihar. However, later, Prasad wrote another letter within a few hours that the special trains were not required. Several migrants in the city were desperate to return home as they were out of jobs and money.

Yechury also lashed out at the central government over reports that it owed states and industry Rs 3 trillion and accused the centre of shifting the burden of fighting the pandemic to the state governments.

“While shifting the entire burden of fighting the pandemic on to the State governments, Modi government is not even paying their legitimate dues. After November 2019, Centre has not paid the GST compensation dues for the rest of the financial year, i.e., March 2020.

“Modi government has the right to loot while crores of people & States are left with nothing but the right to starve?,” he tweeted.

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