The jump in jet fuel—had it been implemented in full—would have been a heavy burden for local airlines, which are already grappling with thin margins, and domestic passengers.
The deal was signed during PM Modi's visit to the UAE last week, said IOC adding that India's trade treaty with the UAE enables it to import LNG without paying a 2.5% import tax.
The drop in sales is a reminder that the recovery path for India’s economy, which technically entered a recession last week, will likely be a bumpy one as Covid rages unabated.
India can sell as much as 26.4% of its holding in Indian Oil — valued at about Rs 330 billion — and still retain indirect control. The govt is looking to raise a record Rs 1.05 trillion given sluggish revenue collection.
The funniest part about pig politicisation is that it is based on ignorance. Hindus and Christians can eat all the pork they want and keep pigs as pets—that does not bother Muslims.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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