Decision on diesel, LPG price hike soon

[email protected] (The Hindu)
January 12, 2013

Lpg_DNew Delhi, Jan 12: Even as the Congress core group headed by Congress president Sonia Gandhi got down to debate the fuel price hike, Petroleum and Natural Gas Minister Veerappa Moily on Friday said the decision on hiking diesel and LPG prices would be taken “as quickly as possible”.

A decision on increasing the supply of subsidised cylinders from six to nine per household a year would also be taken soon, he told journalists.

The urgency to raise prices comes in wake of the fuel subsidy burgeoning to nearly Rs. 1,60,000 crore during 2012-13.

Asked about the proposals sent by his Ministry to the Cabinet Committee on Political Affairs, Mr. Moily said: “When the decision is taken, you will be the first to know. The Kelkar Committee recommendations are under serious consideration.” The Ministry’s proposals are reportedly based on recommendations of the Vijay Kelkar Committee, which was appointed by the Finance Ministry to suggest a road map for fiscal consolidation.

The Kelkar panel had recommended an immediate hike in the price of diesel by Rs. 4 a litre, kerosene by Rs. 2 a litre and LPG by Rs. 50 per cylinder. Thereafter, it suggested raising the rates in a phased manner over the next two to five years or till the time the subsidy component on diesel, LPG and kerosene is wiped out.

The Petroleum Ministry’s fast tracking of fuel price hike comes in the wake of the Finance Ministry’s refusal to bear the additional subsidy arising out of the proposed increase in subsidised cylinders from six to nine a year.

To compensate for this, the Petroleum Ministry has proposed a hike of Rs. 100 per LPG cylinder in two instalments to partially make up for the Rs. 490.50 per bottle loss being incurred currently. The Ministry has, in its proposals, recommended a quarterly hike of Rs. 50 per cylinder from April till the entire losses are wiped out.

On diesel, it has proposed a Rs. 3-4.50 per litre hike at one go monthly instalments of Re. 1 or Rs. 1.50 per litre. From April, it wanted Re. 1 a litre increase every month till such time the current loss of Rs. 9 is wiped out. It has also proposed raising kerosene price by 35 paise a litre per month or one rupee a litre per quarter till March 2015.

The price of diesel was revised on September 14 and it currently costs Rs. 47.15 per litre in Delhi.

Kerosene rate has not changed since June 2011 and it currently is Rs. 14.79 per litre in Delhi.

Subsidised LPG costs Rs. 410.50 per 14.2-kg cylinder and any household requirement beyond the current cap of 6 cylinders is to be bought at the near-market price of Rs. 895.50 per bottle.

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News Network
July 22,2020

Warangal, Jul 22: Amid the COVID-19 pandemic, an outlet in Telangana's Warangal has started selling 'anti-corona' tea. The tea has become an instant hit with the locals as the beverage is laced with natural immunity-boosting ingredients.

"We sell tea named 'anti-corona'. It has natural immunity-boosting ingredients such as ginger, black pepper, cinnamon powder, among other things. A mixture of these ingredients boosts our immunity," Shiva, the owner of the tea shop said.

"Better immunity is needed to fight the coronavirus infection in the body. So we have started preparing this tea and selling it during the coronavirus pandemic," he added.

Prabhakar, a customer at the tea stall said, the tea was a "corona special tea," and it has Ayurvedic mixtures which help to boost the immunity of the human body.

"The tea is prepared after adding the Ayurveda mixtures to milk. This is good for your health. I, along with my family members and friends, come here every day. We drink this tea thrice a day," Prabhakar added.

According to the Union Health Ministry, there are 46,274 COVID-19 cases in Telangana. Meanwhile, India's coronavirus count stood at 11,92,915 on Wednesday morning.

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Agencies
January 24,2020

Indore, Jan 24: Around 80 Muslim leaders of the BJP in Madhya Pradesh on Friday resigned from the primary membership of the party in protest over the Citizenship (Amendment) Act, calling it a "divisive" measure.

One of the leaders, Rajik Qureshi Farshiwala, said around 80 Muslim partymen have resigned from the BJP's primary membership after writing to the newly-appointed national president, J P Nadda, on Thursday.

These leaders, who dubbed the CAA "a divisive provision made on religious grounds", include several office- bearers of the BJP's minority cell, he said.

"It was becoming increasingly difficult for us to participate in our community's events after the CAA came into existence (in December 2019).

"At these events, people used to curse us and ask us how long we plan to keep quiet on a divisive law like the CAA?" he said.

"Persecuted refugees of any community should get Indian citizenship. You cannot decide that a particular person is an intruder or a terrorist merely on the basis of religion," Farshiwala added.

In their letter, the Muslim leaders stated, "Citizens have right to equality under Article 14 of the Indian Constitution. But the BJP-led Central Government is implementing the CAA on religious grounds.

"This is an act of dividing the country and against the basic spirit of the Constitution."

Some of the leaders who have resigned are considered close to BJP general secretary Kailash Vijayvargiya.

When asked about the development, Vijayvargiya on Thursday evening said, "I am not aware of the matter. But we will explain (about the CAA) if a person is being misled."

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News Network
May 22,2020

New Delhi, May 22: Reserve Bank Governor Shaktikanta Das on Friday extended the moratorium on payment of loans by another three months till August to provide much-needed relief to borrowers whose income has been hit due to the coronavirus crisis.

In March, the central bank had allowed a three-month moratorium on payment of all term loans due between March 1, 2020, and May 31, 2020.

Accordingly, the repayment schedule and all subsequent due dates, as also the tenor for such loans, were shifted across the board by three months.

As a result of this moratorium, individuals’ EMI repayments of loans taken were not deducted from their bank accounts, providing much-needed liquidity.

The EMI payments will restart only once the moratorium time period expires on August 31.

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