Unconfirmed reports indicate that the some of the key clauses of the Justice BN Srikrishna Commission report on revamping financial sector laws were opposed by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi). Both RBI and Sebi are learnt to have discussed some of the clauses in the report at a recent meeting of the Financial Stability and Development Council (FSDC), whic
Tag: reform
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Minister alleges opposition of lobbies for proposed gas pricing
Import lobby is opposing the proposal to link the domestic price of natural gas to the market price and thereby liberalise the pricing of the fuel, Petroleum minister M Veerappa Moily said recently. However, he said he was clueless about whether the opposition is from the crude oil import lobby or the liquid gas import lobby
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EGoM to meet soon to discuss panel recommendation
The Empowered Group of Ministers (EGoM) which is looking into the issue of natural gas pricing and allocation may meet soon to consider the recommendation of Rangarajan Committee on the issue. It may be noted that the finance, power and fertiliser ministries as well as gas producers are opposed to th
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Govt takes steps to support shipping sector
Union Shipping Minister GK Vasan informed Lok Sabha that the government took several steps to support shipping sector in the last several years. Specifically, the government introduced the tonnage tax system during 2004-05 to provide a level playing field to the Indian shipping sector
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Govt takes steps to support shipping sector
Union Shipping Minister GK Vasan informed Lok Sabha that the government took several steps to support shipping sector in the last several years. Specifically, the government introduced the tonnage tax system during 2004-05 to provide a level playing field to the Indian shipping sector
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Deregulation of tariff may attract pvt investment
Media reports indicate that the shipping ministry's move to deregulate tariff at the existing container terminals at major ports may instill confidence in private sector players to invest in port projects. According to the tariff regime introduced in 2005, the Tariff Authority for Major Ports (TAMP) decides the rate that can be charged by the existing terminals at major ports
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Govt may ask existing contractors to explore shale gas
The government would unveil shale gas policy in the next few weeks, Union Petroleum Minister Veerappa Moily informed. According to Petroleum Secretary Vivek Rae, the government may ask contractors of the existing 254 blocks, awarded under various licensing rounds, to consider shale gas exploration
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Coal ministry justifies allocation of blocks to captive miners
Union coal ministry justified the allocation of coal blocks to private captive coal miners on grounds that Coal India and other public sector agencies could not meet the demands from private power generators. Therefore, the government had no alternative but to allot captive coal blocks "if it wanted to ensure spee
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Congress considers raising fuel prices
The ruling Congress Party at the centre is considering to raise the price of diesel and kerosene in order to reduce the government's fuel subsidy burden and thereby reduce its fiscal deficit. It may be noted that the Congress Core Committee, which has representatives of the party and the government, discussed the issue recently. Although no decision has yet been taken, the party is said to be evolving consensus on raising prices for the
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CII seeks a budget which supports growth
Industry bodies like Confederation of Indian Industries (CII) expect the government to announce a budget which would support economic growth and employment. They expect that the government does not frame a populist budget even though election is just a year away. Call for a reform-oriented budget is becoming louder as the