Monday, October 12
For the first time in two years, the government has reduced the price of natural gas used for producing CNG for vehicles and cooking gas, reflecting a decline in benchmark rates. The price of natural gas from legacy fields allocated to state-owned ONGC without auction has been reduced from USD 6.75 to USD 6.41 per million British thermal units (mmBtu), according to a notification from the Oil Ministry's Petroleum Planning and Analysis Cell (PPAC). The reduction, which is the first since the government in April 2023 implemented a new formula to price such gas, will aid city gas retailers like Indraprastha Gas Ltd, Mahanagar Gas Ltd and Adani-Total Gas Ltd who had been reeling under cost pressures from rise in input cost. In April 2023, the Union Cabinet accepted an expert committee report t
Active Covid-19 cases in India have jumped to 3,395, marking a sharp rise over just ten days. Kerala remains the worst affected with 1,336 active infections. Maharashtra (467) and Delhi (375) follow, according to data released by the Ministry of Health and Family Welfare (MoHFW) on 31 May.In the last 24 hours, 685 fresh infections were logged. Four men — one each in Delhi, Kerala, Karnataka, and Uttar Pradesh — have died due to Covid-related complications.Delhi’s toll included a “71-year-old male with pneumonia, septic shock with acute kidney injury,” according to officials. The sharpest daily increase was also recorded in the national capital, where active cases rose by 81 within a day.Health Ministry: No need to panic, most cases are mildDespite the sudden spike, health authori
Mumbai: The Reserve Bank of India is expected to cut interest rates for the third straight monetary policy meeting this week amid easing price pressures, according to economists. They are now keenly awaiting the central bank's commentary on inflation and growth to get an idea about how long it would continue with the easing cycle to fuel demand in an economy growing faster than expectations despite faltering consumption.All 12 financial institutions in an ET poll predicted a quarter-percentage-point cut in the policy repo rate, or the rate at which the central bank lends to banks, to 5.75% at the June 4-6 RBI Monetary Policy Committee meeting. But the views on growth and inflation were divergent."The GDP print reassures that growth is not falling apart, but the underlying demand - the hous
