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Business & Economy
Fortnightly review of oil
prices on the way
out
What is India News Service,
Wednesday, 15 December 2004, 2000 hrs IST
The Government has hinted that the
existing fortnightly revision of petrol and diesel prices may
be replaced by a new system that involves monthly or quarterly revisions.
Petrol and diesel prices, in keeping with the
current practice of fixing prices on 1st and 16th of every month, are due for
revision but may not be lowered in sync with the fall in international prices.
"The mistake of September 1997 when the first step of dismantling the
administered pricing mechanism (APM) was taken and that of April 2002 when the
APM was dismantled will not be repeated. At that time, the steep fall in
international prices and the spurt like that witnessed in 2004 was not taken
into account. We have to consider all these volatilities for evolving a stable
pricing policy," the Minister of Petroleum and Natural Gas, Mr Mani Shankar
Aiyar, told reporters on the sidelines of the National Gas Conservation
Programme here on Tuesday. Mr Aiyar was non-committal on whether the public
sector oil firms will cut petrol and diesel prices in tune with the decline in
international prices.
Cities as brands:
Banglore's declining status in the Gartner study on hot IT investment destinations in India holds important lessons, not just for Karnataka\92s capital but for other cities in India.
IDBI
accepts 415 VRS applications: Industrial Development Bank of India Ltd on
Tuesday said it has accepted applications of 415 employees for voluntary
retirement.
Package
to cheer tea, coffee growers:
Commerce and Industry Minister Kamal Nath today told the Lok Sabha that the
government would unveil a package for reviving the tea and coffee sectors and
will also bring about changes in the Price Stabilisation Fund to make it more
effective for small growers.
NTPC
mulls power trading exchange: A spot market for electricity trading could be
on the anvil soon. The National Thermal Power Corporation (NTPC) has appointed
the Nordic Power Exchange as consultant for the establishment of an IT-enabled
power trading system.
Same
Deutz-Fahr to expand Indian operations: The Same Deutz-Fahr group,
Europe-based tractor and industrial diesel engine manufacturer, plans to invest
Rs 60 crore over the next three years to expand its Indian operations.
JCT
buys Senegal mill: JCT
Limited, a pioneer in textiles in north India, is all set to spread its
operations overseas. Through its subsidiary, CNLT Malaysia, JCT has acquired a
composite textile mill in Senegal on a long-term lease.
Economic
pricing policy for energy needed, says PM:
Prime Minister Dr Manmohan Singh today emphasised the need to encourage a
national debate on a rational pricing policy for energy.
BSE
seeks details on Reliance investments:
The Bombay Stock Exchange has sought details on
media reports on the investments made by Reliance Industries Ltd in group
companies, according to sources here.
Indian partners see a positive impact:
Indian IT companies foresee greater outsourcing prospects following he $10.3 billion buyout of PeopleSoft, a leading enterprise software maker by Oracle.
Birla
case: `Pansari has no locus standi': The hearing of the petition filed by Mr
S.N. Prasad, one of the accused seeking quashing of the
proceedings pending in
the Alipore court (in the R.S. Lodha matter) has now started in the court of Mr
Justice D.P. Sengupta of the Calcutta
High Court.
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