Government may not cut excise duty on petrol and diesel in the near-term if it accepts the suggestions made in the approach paper submitted by Chief Economic Adviser for maintaining status quo when oil prices can climb by another USD 15 a barrel.
An inter-ministerial meeting of secretaries, on July 5, is likely to shortlist the loss-making and sick government companies for stake sale or closure, from the list of companies NITI Aayog submitted to the Prime Minister's Office in June.
The government has decided to reduce prices of key fertilisers like Diammonium Phosphate (DAP), Muriate of Potash (MOP) and Nitrogen Phosphate and Potash composition (NPK), Union Minister for Chemicals and Fertilizers Ananth Kumar said on Saturday.
Terming the Mumbai-Ahmedabad high speed rail corridor as a “useless project” and “complete waste of money”, former RBI deputy governor Rakesh Mohan on Friday said India needs the right kind of investment in transport sector if it wants to grow at 7-9 percent.
Manufacturing in India registered a significant uptrend and hit a three-month high in June, backed by a stronger increase in new business orders, while subdued inflationary pressure may prompt RBI to reduce key policy rate, a monthly survey said.