Prime MinisterĂâs Economic Advisory Council Chairman C Rangarajan expressed hope that inflation would ease to six per cent by the end of the next financial year. Although the increase in fuel prices and train fares could prevent headline inflation from moderating in the near term, in the long-run he expects inflation to trend down
Tag: price
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Govt plans to reintroduce import duty on oil
Union government plans to reintroduce import duty on crude oil in the forthcoming union budget in order to increase its tax collection and thereby reduce fiscal deficit. However, the adverse impact of such a move would be that it would raise the price of oil and could leave the government with a higher subsidy bill if pump prices are not r
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Weakness in rupee may hit margins of steel firms
Credit ratings agency India Ratings expects the margins of firms producing flat steel through the blast furnace route to come under pressure if the rupee depreciates further against dollar. Therefore, the agency expects profit margin of these producers to remain under pressure in 2013, even after effec
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Ore price rises on expectation of supply disruption
Since early December, the price of spot iron ore rose around 33 percent and it is said to be trading almost at a 15-month high because of expectation of supply disruption. Traders expect that iron ore export from Australia, leading ore exporter, may be affected by the upcoming cyclo
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Shift to export parity pricing may hit OMCs
According to a latest report by Emkay Global Financial Services, the proposed move by finance ministry to calculate refinery gate price based on export parity pricing may adversely affect oil marketing companies (OMCs). Presently, refinery gate price, or the price at which products are transferred from refining to marketing, is calc
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Report suggests HPCL may post losses in 2012-13
State-run oil marketing company (OMC) Hindustan Petroleum Corporation (HPCL) may report losses in the financial year 2012-13 owing to poor refining margins, forex losses and increasing interest costs, research firm Antique said recently. The company may be able to improve its realisation only if the government raises diesel, kerosene prices, repo
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Ministry proposes gradual hike in diesel prices
In order to reduce the impact of fuel subsidy on government's fiscal deficit, the petroleum ministry proposed a gradual rise in diesel prices, by 1 per litre every month over a 10-month period. It is expected that the gradual rise may avoid controversy engendered by steep hikes in infrequent revisi
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IGL raises CNG prices
Citing increased input gas price and related taxes, Indraprastha Gas (IGL) recently raised the selling price of compressed natural gas (CNG) in Delhi, Noida, Greater Noida and Ghaziabad by 4 percent. According to a company statement, the 4 per cent revision in CNG price would result in increase of Rs 1.55 a kg in
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India steel demand may grow faster than global growth
According to industry players, steel demand in India would grow faster than the demand growth across the globe during 2013 because of better economic growth in the country. According to Chandra Shekhar Verma, Chairman of Steel Authority of India (SAIL), India is a "demand centre where steel growth would rise in multiples of 1.2 of gros
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Proposal to hike diesel prices awaits ministry nod
Oil Minister Veerappa Moily informed reporters that his ministry was yet to process and finalise its view on a proposal to raise fuel prices, on the lines of the recommendation of Kelkar committee. Raising diesel prices is essential in order to reduce the under-recovery of the three public sector oil mark