Cabinet Split On Fertilizer Price Fears

In a first step towards reining in a spiralling fertilizer subsidy bill that crossed Rs 100,000 crore in 2008-09, the cabinet bit the bullet on Thursday and decided to de-control prices of all fertilizers other than urea while fixing subsidy on these based on their nutrient content from April 1, 2010.

The impact of the recommendations of the expert group on pricing of petrol, diesel, kerosene and LPG on the poor and on the price level should be no more than that of present policy and most likely smaller over time. The group has recommended freeing petrol and diesel prices and some increases in prices of kerosene and LPG.

New Delhi: Chances of an immediate increase in fuel prices receded with oil minister Murli Deora and FM Pranab Mukherjee on Sunday failing to work out a way to skirt opposition from within the UPA and agree on a solution to prevent state-run oilmarketing companies from going bankrupt if pump prices are to be kept artificially low.

NEW DELHI: Hong Kong-based CLP Group firm CLP Power India will invest $800 million to augment its power generation capacity from renewable resources to 650 mw by the end of this year. Out of the total target, 346 mw is under construction while, 104 mw is operational. The company has also identified locations for building the remaining capacity.

DIFFERENCES have emerged within the government over mandatory blending of petrol with ethanol. Fertilisers & chemicals minister MK Azhagiri has written to the prime minister asking that the November 2009 decision of the cabinet committee on economic affairs (CCEA) be reviewed and the mandatory blending be deferred until such time as enough ethanol is available for consumers.

Murli Deora

Raghavendra Kamath & Nevin John / Mumbai February 12, 2010, 0:53 IST

One-and-a-half years after signing a joint venture (JV) with Italy's Diesel, Reliance Brands, part of Mukesh Ambani's Reliance Retail, is set to open the first Diesel store in the country, in March.

NEW DELHI: India and UK will finally sign the civil nuclear agreement in New Delhi on Thursday. The nuclear agreement, which follows similar agreements with France, Russia and others, will be signed between Atomic Energy Commission chairman S Bannerjee and British High Commissioner Richard Stagg at South Block, sources said.

New Delhi: The oil ministry will make a strong pitch to unshackle petrol prices from government control and introduce a differential pricing mechanism, along with a small price increase of Re 1 a litre for diesel, when the Cabinet meets on Thursday.

In case it goes through, the proposal for deregulation will mean a jump of Rs 4.71 in the price of a litre of petrol.