Coal 2023: analysis and forecast to 2026
Latest IEA market report sees lower demand to 2026, based on current policies, but stronger actions are needed to drive a steeper decline towards meeting international climate goals. After reaching an
Fuel Pricing
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No plan to hike coal prices this year, says minister
The government on Thursday said it will not raise the notified prices of coal this year, a decision that will help steel and power firms that are battling high input costs. "There is no plan to increase the notified prices of coal this year. Instead, we will enhance our production and reduce operational costs,' minister of state for coal Santosh Bagrodia said. Prices of coal sold to firms in power, steel and other sectors varies between Rs 600 and Rs 1,600 per tonne, depending on its grade.
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There is a case for substantial duty reduction on fuel: Deora
Bonds & Raising Prices Too On Agenda
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Sonia's group to vet oil price hike tomorrow
THE Congress leadership on Thursday directed the finance and petroleum ministers to place its proposals for fuel price hike before a ministerial group on Friday. The informal group comprising Mr Pranab Mukherjee, Mr AK Antony, Mr P Chidambaram and Mr Murli Deora will work out a politically tenable package for dealing with the issue. There are clear indications that the package will be a combination of duty cuts and a moderate hike in the prices.
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Fuel prices may rise Rs 2-4 a litre
RBI eases lending norms to oil companies. The government looked set to raise petrol and diesel prices by Rs 3-4 a litre and Rs 2 a litre respectively this weekend to curtail losses of state-owned oil firms even as the Reserve Bank of India extended them a helping hand by easing borrowing limits. Congress President Sonia Gandhi, who met Prime Minister Manmohan Singh in New Delhi this evening, is believed to have discussed the proposal for a retail fuel price rise that is being pushed for by the petroleum ministry.
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Fuel rate hike still in a jam
THE fuel price imbroglio continued on Thursday even as crude oil prices held firm at around $130 a barrel. Prime Minister Manmohan Singh has now stepped in to take a final call on the price hike after the finance and petroleum ministries failed to reach a consensus on both the quantum of the hike and extent of duty reductions.
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Gas conversion mooted for three wheelers
The Government has decided to save 40 per cent of money spent on fuel for three-wheelers by converting them for running on gas. This will reduce the burden on both three-wheeler drivers and commuters due to recent fuel price hike. Transport Minister Dullas Alahapperuma told the Daily News that the fuel price hike is a heavy burden on the economy and this decision was taken with the objective of reducing the hardships of commuters. There are over 300,000 three-wheelers in the country and users are facing a difficult situation due to the petrol price hike.
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Finance ministry wants cess on I-T to end oil crisis
The finance ministry's proposal to seek compensation by way of cess on income and corporate taxes for any duty reduction on crude oil and motor fuels has put the ball squarely in the court of UPA chairperson Sonia Gandhi and PM Manmohan Singh. With finance minister P Chidambaram's meeting with oil minister Murli Deora ending in a deadlock on Tuesday, the top political leadership will now have to decide how to save the state-owned oil marketing companies from bankruptcy while cushioning consumers against a fresh burden in an electorally crucial season.
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Cess to bail out oil firms?
A cess or surcharge on income tax and corporate tax may be levied to bail out oil firms reeling under high global prices as the Petroleum Ministry's proposal to raise petrol price by Rs. 10 a litre, diesel by Rs. 5 a litre and that of LPG by Rs. 50 a cylinder finds few takers. The new proposal follows Finance Minister P. Chidambaram's reluctance to cut duties on crude oil and petroleum products unless alternative source of revenues are identified.
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Crucial meet on oil prices today
Deora meets Dr. Singh, seeks sharp hike to bail out OMCs Under-recoveries of OMCs could touch Rs. 200,000 crore this fiscal, Prime Minister told Stand-off between Petroleum, Finance Ministries figure in Manmohan-Deora meeting NEW DELHI: A crucial meeting of the Empowered Group of Ministers (EGoM) on petroleum has been convened for Wednesday to discuss proposals to hike the price of petrol and diesel, cut import duties on crude oil and lower excise on the two fuels.