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Diesel subsidy to fall 25% this fiscal to Rs 1 trillion: Fitch

Diesel subsidy to fall 25% this fiscal to Rs 1 trillion: Fitch

Last Updated: Tuesday, July 08, 2014, 19:25

Global ratings agency Fitch on Tuesday said the regular increase in diesel price to align it with market will lead to a 25 percent fall in fuel under- recoveries this fiscal at about Rs 1 trillion (Rs 1 lakh crore).

Moody's expects govt to reduce fuel subsidy bill

Last Updated: Tuesday, July 01, 2014, 19:44

Rating agency Moody's expects the government to reduce its fuel subsidy bill through a gradual process that in turn will lead to higher product prices and prove credit positive for oil marketing companies.

Food Min moves Cabinet note to suspend sugar export subsidy

Last Updated: Tuesday, July 01, 2014, 14:07

The Food Ministry has sought approval to end the subsidy for raw sugar exports one year earlier as it is being availed only by a few sugar mills, a senior government official said on Tuesday.

Punjab govt hikes subsidy on setting up new fish farms

Last Updated: Friday, June 27, 2014, 22:46

The Punjab government today announced to increase subsidy to 50 per cent from the current 40 per cent for setting up new fish farms in the state.

Supply subsidised electricity to Mihan investors: Govt to MADC

Last Updated: Sunday, June 15, 2014, 12:59

Multi-modal International Cargo Hub and Airport at Nagpur (Mihan) project is likely to get a new boost as the government has asked Maharashtra Airport Development Company to supply electricity to the investors at subsidised rates.

No price hike for domestic LPG cylinders: Pradhan

Last Updated: Friday, June 13, 2014, 14:50

The price of domestic LPG cylinders will not be increased and the number of subsidised refills given to consumers would continue, Union Petroleum Minister Dharmendra Pradhan said Friday.

'Govt can cut subsidy bill 1% without causing pain'

Last Updated: Tuesday, June 10, 2014, 20:23

The government can cut down its subsidy bill by up to 1 percent of the GDP without causing much pain to people, Principal Economic Adviser, Ministry of Finance, Ila Patnaik said today.

Govt mulls diesel subsidy for irrigation if monsoon is poor

Last Updated: Monday, June 09, 2014, 20:55

During the drought years in 2009 and 2012, the previous United Progressive Alliance government had announced a 50 percent diesel subsidy for farmers in rainfall deficit areas.

Panel recommends reinstatement of LPG subsidy transfer scheme

Last Updated: Thursday, June 05, 2014, 14:07

Months after the scheme to pay LPG users cash subsidy was put on hold, an expert committee has recommended its reinstatement after streamlining some processes as it helps prevent pilferages.

ONGC pays Rs 272,721 cr in fuel subsidy

Last Updated: Tuesday, June 03, 2014, 17:41

State-owned Oil and Natural Gas Corp (ONGC) has paid a whopping Rs 272,721 crore in fuel subsidy over the past 11 years, denting its profitability.

Losses on diesel dip to new low of Rs 2.80 a litre

Last Updated: Sunday, June 01, 2014, 12:11

The losses have fallen rapidly since March as prospect of a stable and decisive government under Modi helping rupee gain against dollar.

Direct subsidy to farmers for buying farm equipments

Last Updated: Friday, May 30, 2014, 19:19

Punjab government has launched a special scheme to release direct subsidy to farmers, allowing them to purchase agricultural and horticultural implements from any empanelled firm of their choice.