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.

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.

State-run firms together lost Rs 440 cr per day in the fortnight ended March 31.

India's largest crude oil producer Oil and Natural Gas Corporation (ONGC) is on the verge of reporting "losses' on every barrel of crude oil that it sells due to the high subsidy burden that it

The Wholesale Price Index numbers for the week ending March 8, released last week, showed that the inflation rate surged almost a percentage point compared to the previous week.

The Rs 60,000-crore farm loan waiver package has come under the scanner of world bodies such as Organisation for Economic Cooperation and Development (OECD) and the International Food Policy Research

Four Ministers Quote Different Figures, But Govt Showcases It As Commitment To Farmers' Lot