Rs 60,352-cr impact on power, urea makers; FinMin comes up with its own formula

Even before an empowered group of ministers starts deliberating on a revision in natural gas prices, the finance, power and fertiliser ministries have raised a red flag on the recommendations of the Rangarajan panel. Only the Planning Commission seems to be in agreement with the committee’s proposal to use a proposed formula as “an interim or transitional solution” till March 2017.