Says It Was Inevitable In Wake Of Global Spiral Pointing to a sharp escalation in global rise in oil p r i c e s and food and commodities, P r i m e Minister Manmoh a n Singh on Wednesday said that a rise in fuel prices was "inevitable' even as the government has done its utmost to impose only a "moderate' burden on the people.

Consumers have not taken too kindly to the government's decision to raise the price of LPG cylinders by Rs 50 in a single stroke. With inflation touching an all-time high, it has anyway been a tough balancing act for homemakers to juggle their household expenses and the gas price rise is bound to upset their budgets even further.

Steady rise in fuel prices seems here to stay and each price rise is bound to have an impact on monthly budgets. With petrol becoming dearer by a steep Rs 5 and diesel by Rs 3, auto experts say that simple changes in driving habits and minor alterations in lifestyle can ensure the hike does not hit as bad.

Cosmologists Are Unable To Understand What Is Making The Galaxies Defy Cosmic Gravity Baltimore: Mario Livio tossed his car keys in the air. They rose ever more slowly, paused, shining, at the top of their arc, and then in accordance with everything our Galilean ape brains have ever learned to expect, crashed back down into his hand. That was the whole problem, explained Livio, a theorist at the Space Telescope Science Institute here on the Johns Hopkins campus.

PM Manmohan Singh on Monday hinted that there may not be any alternative to raising fuel prices, even as the government continued to grapple with working out a consensus on measures to tackle high global crude prices. A decision can possibly be taken only by Thursday after a meeting of the Cabinet Committee on Political Affairs.

Delhi Cabinet has given its nod to Pragati Phase-III Bawana Power Project to be commissioned at an estimated cost of Rs 5195.81 crore. Prime Minister Manmohan Singh had laid the foundation stone of the 1500 MW Gas Based Power Station on March 24 this year. The project would meet the growing demand of power in the city and cater to the requirements for Commonwealth Games 2010. The decision was taken on Monday in a Cabinet meeting presided over by chief minister Sheila Dikshit.

India's oil subsidy may shoot up three times to 2.2% of the GDP this year even as the government dithers on raising fuel prices in step with the rise in input (crude oil) cost. The country paid $8.7 billion in oil subsidies in 2007 or 0.7% of the GDP. In 2008 when GDP is slated to grow to $1.34 trillion, the subsidy may jump to $18.1 billion at $100 a barrel crude price, and to $23.4 billion at $115. At current market price, it would rise to $29.2 billion, Credit Suisse said in its latest report on subsidies in Asia.

While the inflationary pressure has gone out of control from the government, commodity prices have been steadily increasing. During the week, price of fish jumped by 6%, fruits and vegetables by 3% and moong dal and spices by 2% and 1% respectively. Despite export bans, skimmed milk was costlier by 7% and imported edible oil by 1%. Furnace oil was costlier by 3% and light diesel oil by 2%.

What are oil reserves?

Jug Suraiya Bengal governor Gopal Gandhi has committed an unpardonable sin and has, rightly, been taken sternly to task by chief minister Buddhadeb Bhattacharjee and other state leaders. Governor Gandhi's lapse? In order to show solidarity with the citizens of Kolkata, and other parts of Bengal, who are suffering from long power cuts, the governor voluntarily had all the lights and electrical appliances in Raj Bhavan switched off for two hours.

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