Industry chamber Assocham has demanded cut in effective corporate tax to 25 per cent, doing away with dividend distribution tax (DDT) and indexing of allowances and deductions under personal Income Tax with inflation. In its pre-budget meeting with the Revenue Secretary last week, Assocham also demanded reduction of excise duty on Aviation Turbine Fuel (ATF), […]
Category: Oil & Gas
Reliance Industries resumes lobbying in US; ropes in new lobbyist
Indian corporate giant Reliance Industries Ltd has resumed lobbying among US lawmakers through a new lobbyist for advocating its position on the “US economic trade sanctions policies”. Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) had earlier terminated its lobbying activity in US in January 2013 after engaging with the US lawmakers for nearly four years […]
CMC approves IOC proposal for laying gas pipeline
Indian Oil Corporation Limited (IOCL) got a nod for laying underground pipeline for supply of gas to domestic, industrial or commercial premises and CNG stations within the limits of Chas Municipal Corporation (CMC) area. “We have got the nod from CMC and very soon underground pipeline laying work will be started,” said Ravi Choudhary Manager […]
Petrol pumps asked to install CCTVs
The Chhatrapur police have cautioned the petrol pump owners and officials of different microfinance organisations to remain alert and adopt adequate security measures while taking cash to banks for deposits. Police held a meeting with the officials of all the 13 petrol pumps and micro finance organisations here on Monday evening and sensitised them on […]
Pradhan gets PNG, Steel; Sarangi MSME, Fisheries
Union Cabinet Minister Dharmendra Pradhan got portfolios of Petroleum and Natural Gas and Steel in the newly-formed Narendra Modi Cabinet. Baleswar MP Pratap Chandra Sarangi, a Union Minister of State, was allocated the portfolios of Micro, Small and Medium Enterprises (MSME) and Animal Husbandry and Dairying and Fisheries. It may be noted that Pradhan was […]
Efforts to import Iranian oil beyond accepted levels will be sanctioned: US
Any efforts to import Iranian crude oil beyond the accepted levels negotiated from November to May will be sanctioned, the US has warned, amidst reports that India and China were seeking ways to buy oil from Tehran. US President Donald Trump last month refused to give waivers to countries like India from buying oil from […]
IOC outlets at Punjab’s central prison premises
Punjab Jail Department, with the active assistance of the Indian Oil Corporation (IOC), will open retail outlets of the Indian Oil Corporation (IOC) across the Central Prison Premises in the State. “An MoU (Memorandum of Understanding) would be inked with the IOC on June 3 in Patiala for the same,” said the state’s Jail Minister […]
Indian Oil to provide fuel on credit to Punjab farmers
In a first of its kind, oil major Indian Oil Corp Ltd on Wednesday signed a MoU with Punjab to set up 15 petrol pumps to provide fuel to farmers on credit that will be repaid after the harvesting of crops. For this, the Cooperation Department inked a pact with Indian Oil in the presence […]
Petrol, diesel prices begin to rise
Petrol and diesel prices started rising soon after the last phase of the general election concluded, and have increased by 70-80 paisa per litre in the past nine days. Prices have been on the rise since May 20, a day after the final phase of polling for the Lok Sabha elections ended. The price of […]
GAIL records highest ever annual PAT of Rs 6,026 crore
GAIL (India) Limited recorded its highest ever Profit after Tax (PAT) of Rs 6,026 crore for the Financial Year 2018-19 in its journey of over three decades, a rise of 30 % from Rs 4,618 crore in the last fiscal on the back of better physical performance in all segments and better realisations. The Company’s […]
Govt stops issuing Reliance-BP penalty notices for KG-D6 gas output shortfall
The Government has stopped issuing penalties on Reliance Industries and its partner BP plc for natural gas production from eastern offshore KG-D6 fields not matching the targets after the matter went into arbitration, according to an RTI reply by the DGH and sources. While a challenge by Reliance-BP to the imposition of penalties in the […]
State plans producing bio-fuel from paddy
Chhattisgarh Chief Minister Bhupesh Baghel on Monday said generating bio-fuel from paddy will be a unique initiative in the country for which inclusive efforts is required. The state has ample opportunities to generate bio-fuel from paddy, sugarcane and other agricultural products, he said, adding that the state government intends to establish more agro-based industries in […]