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India’s gas production to stagnate without pricing reforms: IHS

NEW DELHI: India’s natural gas production will stagnate at current levels if pricing reforms are not implemented and it will have to import heavily to meet the demand, a report by US-based consultancy IHS has warned. IHS said low regulated gas prices have precipitated a supply shortfall in India, but proposed that reforms to the pricing formula could yield higher ...

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Government keeping close watch on onion, milk prices

NEW DELHI: With onion and milk prices showing an upward cue, the governmenttoday said it is closely watching the trend and will take appropriate steps to ensure adequate availability of these commodities in the domestic market. “Onion and milk are important. We are closely observing the price trend and an appropriate action will follow, whenever required,” Commerce Secretary Rajeev Kher ...

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Crisis: Power Minister Piyush Goyal warns Delhi to brace for more blackouts

Residents in capital city Delhi should brace for more power cuts amid scorching summer heat, the country’s Power Minister Piyush Goyal said on Tuesday, warning that dilapidated power grids could not cope with the extra electricity needed to meet demand. North India has endured a heatwave in the last week, with temperatures in some parts of Delhi reaching a 62-year ...

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Rupee drops 5 paise against dollar

Rupee drops 5 paise against dollar

The rupee dropped five paise to 59.43 against the US currency in morning trade on Wednesday on persistent demand for the American unit from banks and importers despite lower dollar in the overseas market. The rupee resumed lower at 59.40 per dollar as against the last closing level of 59.38 at the Interbank Foreign Exchange (Forex) Market. It dropped further ...

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Sensex closes at record high as RBI cuts SLR

The BSE benchmark Sensex on Tuesday rose nearly 174 points to end the day at all-time closing high of 24,858.59 as sentiment remained positive after the RBI pleased markets by unlocking about Rs 40,000 crore of banking funds by cutting the statutory liquidity ratio (SLR). Boosting investor sentiment, the Reserve Bank of India (RBI) also allowed foreign portfolio investors to ...

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