The excise duty cut on petrol and diesel is credit negative for India as it will reduce government revenue and increase fiscal deficit by 0.1 per cent to 3.4 per cent of GDP in the year ending March 2019, Moody’s Investors Service said Tuesday. Also, the earning of public sector oil marketing companies (OMCs) would […]
Day: October 9, 2018
IEA urges Opec to boost output as high oil prices threaten global economy
The International Energy Agency made a direct appeal to Opec and other major oil producers to boost output, warning that prices are inflicting damage on the global economy. “We should all see the risky situation, the oil markets are entering the red zone,” IEA Executive Director Fatih Birol said Tuesday. “We should try to comfort […]
OPIC keen to invest in infra development in India’s port, solar sectors: US
The US government’s development finance institution OPIC is keen to invest in the development of India’s infrastructure, port and solar energy sectors, a top US official said Tuesday. Overseas Private Investment Corporation (OPIC) Executive Vice-President David Bohigian, who is visiting India, further said that India is a clearly the anchor of US government’s Indo-Pacific strategy. […]