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Petrol touches Rs 90.84 per litre in Mumbai, Rs 83.49 in Delhi

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New Delhi, Sep 30 Transport fuel prices continued on the daily record breaking upward movement on Sunday, with petrol inching closer to Rs 91 a litre mark in Mumbai.

In the country’s financial capital, petrol costs Rs 90.84 per litre, up from Rs 90.75 on Saturday, data on the Indian Oil Corp website showed.

Petrol prices in the other key cities of Delhi, Kolkata and Chennai on Sunday were Rs 83.49, Rs 85.30 and Rs 86.80 per litre respectively — all new levels — higher than the respective previous high of Rs 83.40, Rs 85.21 and Rs 86.70 the previous day.

With petroleum still excluded from the GST regime, prices vary according to local taxes. Delhi has lower tax among the four major metros.

The increase in transport fuel rates comes amid surging crude oil prices. Currently, Brent crude oil is priced around $83 per barrel.

Sector experts also attribute the high domestic fuel prices to the high rate of excise duty across the country.

In tandem with petrol, cost of diesel also rose to hit new highs on Sunday.

Prices of the fuel in Delhi, Kolkata, Mumbai and Chennai were Rs 74.79, Rs 76.64, Rs 79.40 and Rs 79.08 a litre respectively, up from the Saturday’s Rs 74.69, Rs 76.48, Rs 79.23 and Rs 78.91 respectively.

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World Bank Sanctions $400 Million To Enhance Namami Gange Programme

“The government’s Namami Gange Programme has revitalized India”s efforts to rejuvenating the Ganga,” Junaid Ahmad, World Bank Country Director in India, said.

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Namami Gange

New Delhi, July 7 : The Indian government and the World Bank on Tuesday signed a loan agreement to enhance support for the Namami Gange programme that seeks to rejuvenate the Ganga.

The Second National Ganga River Basin Project will help stem pollution in the iconic river and strengthen the management of the river basin which is home to more than 500 million people.

The $400 million operation comprises a loan of $381 million and a proposed guarantee of up to $19 million.

The agreement for the $381 million loan was signed by Sameer Kumar Khare, Additional Secretary, Economic Affairs, Ministry of Finance on behalf of the government, and Qaiser Khan, Acting Country Director (India), on behalf of the World Bank. The guarantee instrument will be processed separately.

Khare said that the Ganga is India”s most important cultural, economic and environmental resource, and the government”s Namami Gange programme seeks to ensure that the river returns to a pollution-free, ecologically healthy state.

The new project will extend the government”s and World Bank”s engagement in this critical national programme to make the Ganga a clean, healthy river.

The World Bank has been supporting the government”s efforts since 2011 through the ongoing National Ganga River Basin Project, which helped set up the National Mission for Clean Ganga (NMCG) as the nodal agency to manage the river, and financed sewage treatment infrastructure in several riverside towns and cities.

Rajiv Ranjan Mishra, Director General of the National Mission for Clean Ganga, said that the continuity provided by the Second National Ganga River Basin Project will consolidate the momentum achieved under the first World Bank project, and help NMCG introduce further innovations, and benchmark its initiatives against global best practices in river rejuvenation.

“The government’s Namami Gange Programme has revitalized India”s efforts to rejuvenating the Ganga,” Junaid Ahmad, World Bank Country Director in India, said. “The first World Bank project helped build critical sewage infrastructure in 20 pollution hotspots along the river, and this Project will help scale this up to the tributaries. It will also help government strengthen the institutions needed to manage a river basin as large and complex as the Ganga Basin.”

The sprawling Ganga Basin provides over one-third of India”s surface water, includes the country”s largest irrigated area, and is key to India”s water and food security. Over 40 per cent of India”s GDP is generated in the densely populated basin. But the Ganga river is today is facing pressures from human and economic activity that impact its water quality and flows.

Over 80 per cent of the pollution load in the Ganga comes from untreated domestic wastewater from towns and cities along the river and its tributaries. For this, sewage networks and treatment plants in select urban areas would be built to help control pollution discharges. These infrastructure investments and the jobs they will generate will also help India”s economic recovery from the Covid-19 (Coronavirus) crisis.

To ensure that these infrastructure assets function effectively and are well maintained, the project will build on the innovative Hybrid Annuity Model (HAM) of public private partnership introduced under the ongoing NGRBP, and which has become the solution of choice for sewage treatment investments in the Ganga Basin.

Under this model, the government pays a private operator 40 per cent of the capital cost to build a sewage treatment plant during the construction period; the remaining 60 per cent is paid as performance-linked payments over 15 years to ensure that the operator runs and maintains the plant efficiently.

The $400 million operation includes a proposed Guarantee of up to $19 million to backstop the government”s payment obligations for three Hybrid-Annuity-Model Public Private Partnership (HAM-PPP) investments on the Ganga”s tributaries.

The $381 million variable spread loan has a maturity of 18.5 years including a grace period of 5 years. The $19 million Guarantee Expiry Date will be 18 years from the Guarantee Effectiveness Date.

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Government hints at incentives for resumption of film, TV production

“To accelerate the restart of filmmaking that had come to a standstill as a result of COVID, we are also coming up with incentives of production in all sectors, including TV serials, film-making, co-production, animation, gaming. We will be announcing these measures shortly,” Union Minister for Information and Broadcasting Prakash Javadekar said on Tuesday..

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PRAKASH JAVEDAKAR-WEFORNEWS

Union Minister for Information and Broadcasting Prakash Javadekar has announced that the government will soon issue Standard Operating Procedures to boost resumption of film production, at a time when the nation is witnessing the unlocking phase after the lockdown.

“To accelerate the restart of filmmaking that had come to a standstill as a result of COVID, we are also coming up with incentives of production in all sectors, including TV serials, film-making, co-production, animation, gaming. We will be announcing these measures shortly,” the minister said on Tuesday while speaking at the 21st edition of FICCI Frames.

Owing to the COVID- 19, this year the annual event was held virtually instead of being organised near Powai Lake, where it normally takes place.

The FICCI Frames Virtual Summit will continue till July 11.

As the nation witnesses a phased opening up of the Covid-19 induced lockdown, film industries across the country prepare to get back to action.

On Tuesday, Bollywood actress Taapsee Pannu took to Instagram Stories to announce she was back at work. She gave a glimpse of her make-up vanity room, sharing that she has started shooting amid the ongoing coronavirus pandemic.

“Let’s do this. #BackToWork,” Taapsee captioned the image.

Also on Tuesday evening, trade analyst Taran Adarsh announced that a new Bengali film titled “SOS Kolkata” will be going on floors on Wednesday. The film starring Yash, Nusrat Jahan, Mimi Chakraborty, Sabyasachi Chakraborty and Shantilal Mukherjee in key roles, is slated for a Durga Puja release this year.

In Mumbai, Ekta Kapoor recently resumed shooting for her daily soap “Naagin 4”.

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Economic mismanagement a tragedy, will destroy millions: Rahul Gandhi

The Congress leader has been raising the issue of economic problems Indians are facing due to the lockdown amid coronavirus pandemic.

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Rahul Gandhi

New Delhi, July 7 : Reacting to a research report that Indians are worst-hit on the economic front and that 8 out of 10 rural households had lost income during the coronavirus pandemic, Congress leader Rahul Gandhi on Tuesday alleged that the economic mismanagement was a tragedy that was out to destroy millions.

“India”s economic mismanagement is a tragedy that is going to destroy millions of families,” he tweeted.

He said that it would no longer be accepted silently.

The Congress leader has been raising the issue of economic problems Indians are facing due to the lockdown amid coronavirus pandemic.

Rahul Gandhi was quoting research by University of Chicago and Centre for Monitoring Indian Economy, which said that 80 per cent rural and 75 per cent urban households have suffered loss in income.

Congress General Secretary KC Venugopal in a statement on Tuesday said that the country lost nearly 13 crore jobs, with many states reaching unemployment figures of 40 per cent.

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