Union Minister of Petroleum and Natural Gas Dharmendra Pradhan also said both countries were in discussions to store crude oil in US to increase India's stockpile.
Provisional fuel sales in June climbed within 88% of 2019 levels from less than half in April in the midst of the world’s biggest lockdown, oil ministry said.
Fuel consumption probably declined at least 80% in April, which would lead to a revenue loss of as much as Rs 400 billion, said economist Madan Sabnavis.
The global oil slump has given Modi govt the cushion to hike fuel taxes to meet revenue shortfalls. But retail fuel prices still hover around pre-Covid-19 levels.
In episode 416 of #CutTheClutter, Shekhar Gupta explains the reasons behind the excise hike in petrol and diesel, and delves into the recent political crisis in Israel.
IIT-Roorkee engineers develop electric car prototype that needs ‘refuelling’ not recharging, say it won’t cost any more than your petrol or diesel vehicle.
MoSPI proposes to remove closed factories from IIP sample, aiming for truer picture of India’s industrial health in upcoming 2022–23 base series. Plan open to public feedback until 25 November.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
COMMENTS