In October 2014, five months into office, the Narendra Modi government unveiled one of its biggest reforms, lifting state controls on diesel prices and aligning these with international crude oil costs.The bold decision was aided by a fall in global oil prices to near four-year lows, making for the first domestic diesel price cut since January 2009.Until then, diesel prices were determined by oil marketing companies, not based on crude oil price movements, but largely based on electoral implications.Close This was also aimed at helping offset the shocks when global crude oil prices shoot up. related news Here's all you need to know about Ships Recycling Bill, 2019 Centre may amend IBC to shield new owners of bankrupt companies : Report Government mulls tie-up with Amazon, Flipkart to help MSMEs boost sales: Report In a related move, from June 16, 2017, petrol and diesel prices are revised daily as opposed to fortnightly earlier.The smallest changes in international oil … [Read more...] about Modinomics | Biting the bullet on fuel reforms
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The Nifty50 started off selling at the word go and fell further in the latter part on June 21 after escalating tensions between US-Iran and RBI Government comments.The index closed way below 11,800 levels and formed Bearish Belt Hold pattern on the daily charts and bearish candle on the weekly scale. For the week, the index lost 0.8 percent, continuing downtrend for the third consecutive week.The index has recently taken multiple support near 50 DEMA at 11,650 zone but the absence of buying interest is also visible at 11,850 zone, experts said, adding that bearish candle on daily, as well as weekly, scale indicates that bears are restricting its upside momentum.Close The Nifty50 opened lower at 11,827.60, which was also an intraday high, and extended selling pressure in the second half to hit a day's low of 11,705.10. The index closed lower by 107.70 points at 11,724.10. related news Trade Setup for Friday: Top 15 things to know before Opening Bell Ujjivan Small Finance Bank … [Read more...] about Top gainers & losers for the week: Hexaware, Jain Irrigation, Jet Airways top the charts
Student protests in Jawaharlal Nehru University (JNU) against hostel fee hike, are showing no signs of simmering down. On December 9, students marching towards the Rashtrapati Bhavan were reportedly baton-charged by the police. Many were detained.According to JNU Students' Union (JNUSU) president Aishe Ghosh, "Several students, including women, have been detained by police which brutally attacked the protesters, asking us to go back to campus."Students, who were seen raising slogans like "Delhi Police go back" and "Education must be free for all", said that they will not budge until their demand for a complete rollback of the hostel fee hike is met. The JNUTA, a teacher’s association, has also called a sit-in in solidarity with the student’s demands.Close The students have been protesting for over a month and have now called for boycotting of examinations till their demands are met. The Ministry of Human Resource Development (HRD) is holding parleys with the student council … [Read more...] about JNU students not alone in protesting against fee hike: Here are varsities missed by national media
India's industrial output contracted 3.8 percent in October against a 4.3 percent contraction in September, according to the Index of Industrial Production (IIP) data released by the government on December 12.Industrial output, or factory output, is the closest approximation for measuring the economic activity of the country's business landscape.Manufacturing output, which accounts for more than three-fourths of the entire index, contracted 2.1 percent in October against a contraction of 3.9 percent in September.Close Mining production fell 8 percent in October against a fall of 8.5 percent in September. related news CBI carries out searches at 13 locations in Rs 568.52 crore bank fraud Retail inflation gallops to 5.54% in November 200 recommendations of Swaminathan report accepted by govt: Agri minister The growth of primary products fell 6 percent last month against a fall of 5.1 percent in September. Capital goods production fell 21.9 percent … [Read more...] about IIP growth for October falls 3.8%
Days after the Samajwadi Party (SP) and the Bahujan Samaj Party (BSP) announced their decision to contest the Lok Sabha polls together from Uttar Pradesh, BSP satrap Mayawati, on her 63rd birthday, appealed to members and workers of both parties to forget their past differences.As the leader was greeted by SP chief Akhilesh Yadav at her residence in Lucknow on her birthday on January 15, she said, “Forget past differences and ensure the victory of all joint candidates of SP and BSP. This will be my ideal birthday gift.”The parties, which have decided to contest general elections on a 50-50 seat-sharing deal, are itching to bury the hatchet in an attempt to make a formidable alliance to beat the BJP, which had won 71 out of 80 seats in the 2014 Lok Sabha polls. While the SP had managed to win a meagre five seats, the BSP won none.Close But it won’t be easy for the bitter rivals to forget and forgive, especially after witnessing a dark past in the history of Indian … [Read more...] about Forget past differences with SP, says BSP supremo Mayawati on 63rd birthday. Easier said than done?