Delhi: Petrol to cost 92 paise less, diesel up by 37 paise

June 17, 2012

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New Delhi, June 17: Petrol price will come down by 92 paise while cost of diesel will go up by 37 paise from midnight Sunday in the capital, with the Delhi government issuing a notification adjusting the Value Added Tax (VAT) on the two fuels.

Petrol will cost Rs 70.24 per litre from current Rs 71.16 per litre and diesel will cost Rs 41.28 per litre as against the current rate of Rs 40.91.

"We have issued a notification slashing the VAT on the hiked component of petrol while the relief of 37 paise being provided since September last year will be withdrawn on diesel. The new rates will come into effect from midnight tomorrow," a senior Delhi government official said.

Delhi government had a fortnight ago decided to slash the VAT on the hiked component of the petrol price. The city government had withdrawn 12.5 per cent VAT on the increased component of diesel when oil companies had hiked diesel price by Rs 3.37 in June last year.

The government had arrived at the figure of 37 paise for cut in diesel price by removing the 12.5 per cent VAT component on the hike of Rs 3.37.

Chief Minister Sheila Dikshit, while presenting the Budget in the Delhi Assembly on May 28, had announced withdrawing the 20 per cent VAT on increased component of petrol to provide some relief to people battered by high inflation.

The relief on account of withdrawal of VAT on hiked component of Rs 6.28 was calculated at Rs 1.26 but as oil companies slashed prices by Rs 1.68 on June 2, the reduction in VAT on per litre of petrol was revised at 92 paisa per litre.

The Delhi Budget in which Dikshit had made the proposal to forego the VAT on hiked component was passed by the Assembly on June 4 but officials said there was a delay in issuing the notification due to procedural reasons.

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News Network
April 25,2024

mamata.jpg

Kolkata: Defence Minister Rajnath Singh or Transport Minister Nitin Gadkari could have been the prime minister, said Trinamool Congress supremo and West Bengal chief minister Mamata Banerjee, subtly taking a dig at the Bharatiya Janata Party leaders relegated to the second rung of the organisational echelons.

Banerjee’s nephew and the TMC general secretary Abhishek Banerjee, on the other hand, attempted to stoke trouble within the BJP’s unit in West Bengal, saying that at least 10 more state legislators of the saffron party were keen to join his party and in touch with him.

"You (Rajnath Singh) are surviving at the mercy of Modi (Prime Minister Narendra Modi). You are saluting Modi daily to save your chair. You or Nitin Gadkari could have been the PM (prime minister) today," the TMC supremo said in an election rally at Ausgram in Bolpur Lok Sabha constituency on Wednesday. "There would have been no problem...at least there would have been a gentleman in the chair who knows minimum courtesy," she added.

Banerjee was responding to Singh’s diatribe against herself and the TMC government led by her. The defence minister, who had addressed an election rally in Murshidabad on Sunday, had criticised the TMC government for alleged corruption and anarchy in West Bengal.

Singh had referred to the attacks on the Enforcement Directorate officials on January 5 during a raid at the residence of the TMC leader Sheikh Shahjahan at Sandeshkhali in North 24 Parganas district of the state. It was followed by an agitation by local women protesting against atrocities by Shahjahan and his aides known to be owing allegiance to the TMC.

Singh questioned how the state government, led by a woman as the chief minister, could allow such atrocities on women to take place. He went on to say that Banerjee had lost all ‘mamata’ (affection and compassion) for people.

Banerjee shared a cordial relationship with Singh since the days when they both were ministers in the central government led by then Prime Minister Atal Bihari Vajpayee. Singh avoided personally criticising Banerjee in the past.

He, however, went ballistic against Banerjee on Sunday, triggering a strong response from the TMC supremo on Wednesday.

"The BJP is trying to get into the game of breaking parties, but they can't win in it. They poached two of our MPs, and we replied by taking two of their MPs, Arjun Singh and Babul Supriyo. Recently, by using ED raids, they inducted Tapas Ray. At least 10 top leaders of the BJP are in the queue to join the TMC," Abhishek said in another election rally in Murshidabad on Wednesday.

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News Network
April 20,2024

Union Finance Minister Nirmala Sitharaman, on Friday, said that the Bharatiya Janata Party (BJP) plans to reintroduce electoral bonds in some capacity following extensive consultations with all stakeholders, should it come back to power in the 2024 general elections, according to a report in the Hindustan Times (HT).

HT cited Nirmala Sitharam as saying, “We still have to do a lot of consultation with stakeholders and see what is it that we have to do to make or bring in a framework which will be acceptable to all, primarily retain the level of transparency and completely remove the possibility of black money entering into this.”

However, the Centre has not yet decided whether to seek a review of the ruling made by the Supreme Court (SC), she said.

She further added, “What the scheme, which has been just thrown out by the Supreme Court, brought in was transparency. What prevailed earlier was just free-for-all.”

Launched in 2018, electoral bonds were accessible for acquisition at any State Bank of India (SBI) branch. Contributions made through this programme by corporations and even foreign entities via Indian subsidiaries received full tax exemption, while the identities of the donors remained confidential, safeguarded by both the bank and the recipient political parties.

On February 15, a five-judge Constitution Bench struck down the scheme, deeming it ‘unconstitutional’ due to its complete anonymisation of contributions to political parties. Additionally, the Bench stated that the articulated objectives of curbing black money or illegal election financing did not warrant disproportionately infringing upon voters’ right to information.

FM Sitharaman said, some aspects of the scheme need improvement and they will be brought back following consultations.

She also lashed out at the Opposition’s claims that the BJP disregarded criminal charges against leaders who switched from other parties to join the ruling party.

The HT quoted her as saying, “The BJP can’t sit here and say, you come to my party today, and the case will be closed tomorrow. The case has to go through the courts that have to take a call; they will not just say, “Oh, he’s come to your party, close the case.” Doesn’t happen that way. So is this washing machine a term they want to use for the courts?”

She further said that the Union government plans to simplify the process of taxation and make it easy for investments to come through into the country.

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News Network
April 15,2024

New Delhi: India is likely to experience above-normal cumulative rainfall in the 2024 monsoon season with La Nina conditions likely to set in by August-September, the IMD has said on Monday.

However, normal cumulative rainfall does not guarantee uniform temporal and spatial distribution of rain across the country, with climate change further increasing the variability of the rain-bearing system.

Climate scientists say the number of rainy days is declining while heavy rain events (more rain over a short period) are increasing, leading to frequent droughts and floods.

Based on data between 1951-2023, India experienced above-normal rainfall in the monsoon season on nine occasions when La Nina followed an El Nino event, India Meteorological Department chief Mrutyunjay Mohapatra told a press conference here.

Positive Indian Ocean Dipole conditions are predicted during the monsoon season. Also, the snow cover in the Northern Hemisphere is low. These conditions are favourable for the Indian southwest monsoon, he said.

Moderate El Nino conditions are prevailing at present. It is predicted to turn neutral by the time monsoon season commences. Thereafter, models suggest, La Lina conditions may set in by August-September, Mohapatra said.

India received "below-average" cumulative rainfall -- 820 mm compared to the long-period average of 868.6 mm -- in 2023, an El Nino year. Before 2023, India recorded "normal" and "above-normal" rainfall in the monsoon season for four years in a row.

El Nino conditions -- periodic warming of surface waters in the central Pacific Ocean -- are associated with weaker monsoon winds and drier conditions in India.

Three large-scale climatic phenomena are considered for forecasting monsoon season rainfall.

The first is El Nino, the second is the Indian Ocean Dipole (IOD), which occurs due to differential warming of the western and eastern sides of the equatorial Indian Ocean, and the third is the snow cover over the northern Himalayas and the Eurasian landmass, which also has an impact on the Indian monsoon through the differential heating of the landmass.

The southwest monsoon delivers about 70 percent of India's annual rainfall, which is critical for the agriculture sector. Agriculture accounts for about 14 percent of the country's GDP.

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