Power Finance Corporation, a Navratna public sector lender, is in the process of creating a wholly-owned subsidiary for the renewable energy sector, in a couple of weeks, to be called PFC Green Energy Ltd.

M K GoelM K Goel, director (commercial), PFC, told reporters here today that this sector required relatively smaller amounts and had not been getting adequate priority.

NewDelhi:Diversion of subsidised fuels is one of the major threats to the health of the oil sector, a document prepared by the oil ministry on strategy for the next five years says.

The government plans to provide kerosene, cooking gas and fertiliser subsidy to the poor by direct cash transfers on a pilot basis before the end of the current calendar year, 2011.

For the current year, according to Budget documents, petroleum and fertiliser subsidies add up to Rs 53,000 crore.

The Finance Ministry today set up a task force under Nandan Nilekani, chairman of the Unique Iden

With just about a month to go for Finance Minister Pranab Mukherjee to present the Budget for 2011-12, Honorary Economic Advisor to the Prime Minister of India Raghuram Rajan said the government must take a hard look at subsidies, particularly petroleum subsidies, pull back on government demand, stop expanding big programmes and definitely not launch any new ones.

Even as the government has ruled out any increase in diesel prices in the near future, it is hoping for a moderation in global crude oil prices.

The ruling BJD and the CPM today assailed the Congress-led UPA government at the Centre for hiking prices of petrol within a month.
Demanding a rollback, Biju Yuva Janata Dal said the price hike will further fuel the inflationary trend.

While the prices of essential commodities have gone through the roof making the life of people miserable, the Centre has miserably failed control it.
Alleging

Indicus Analytics / New Delhi January 6, 2011, 0:05 IST

The benefits of subsidised LPG fail to trickle down to low-income households in India

Just about 40 per cent of the population in developing countries has access to modern cooking fuels

Solar Shop will start functioning in all district headquarters in Madhya Pradesh from January 26 next year.