'People have to bear burden of oil price rise'
Finance Minister Pranab Mukherjee on Friday said the burden of oil price rise will have to be borne at least partly by the people as oil marketing companies were unable to sell at earlier rates as global crude oil had got costlier.
"Oil marketing companies cannot make money from heaven. The price rise has to be passed on," Mukherjee told reporters at an informal luncheon here.
The freedom to price petrol as per market conditions was given to oil retailers last and accordingly prices of petrol was hiked for the fifth time in 2010 by Rs.2.95 per litre. The hike was necessitated by the rise in global crude prices to $90 per barrel.
Asked how retail petrol prices were now inching towards Rs.60 a litre, as against Rs.52 in 2008 when crude oil was at $147 per barrel, Mukherjee said this was because of general price rise, cost of local production and other activities.
As per government estimates, the impact of selling fuel below cost -- referred to as under recovery in oil industry jargon -- will be Rs.4.17 per litre on petrol and Rs.5.40 on diesel, amounting to Rs.65,000 crore for the fiscal year as a whole.
Mukherjee also hinted that it was not possible to give any more subsidy to oil marketing companies during this fiscal.
Polling across 44 districts for the first phase of elections to urban bodies in Madhya Pradesh will begin at 7am today. A total of 1.04 crore voters are expected to exercise their franchise in the first phase of polling, an official informed news agency PTI. Voting will go on till 5pm, he added. Votes will be cast for municipal corporations including Bhopal, Indore, Gwalior, Jabalpur, Khandwa, Burhanpur, Chhindwara, Ujjain, Sagar, Singrauli and Satna.
Even though Mohali district rose by two spots from last year's ranking in the PSEB Class 10 exams, its pass percentage dropped from 99.91% to 99%. Last year, Mohali was placed 17th among the 23 districts. This year, it improved its standing to 15th, with Gurdaspur district bagging the top spot. As many as 9,401 students from 109 Mohali schools appeared in the exams and 9,307 passed.
A 32-year-old doctor allegedly ended his life by injecting himself with a paralytic drug used in anaesthesia at his rented accommodation in Phase 2 on Monday night. The doctor, who hailed from Rupnagar, was living alone in the rented house for the last three months and worked at a private hospital in Sector 34, Chandigarh. The autopsy will be conducted at the Phase-6 civil hospital on Wednesday.
A local court on Tuesday extended the judicial custody of Kalyani Singh, an accused in the murder of national-level shooter and lawyer Sukhmanpreet Singh, alias Sippy Sidhu. Lodged in Model Jail, Sector 51, since June 21, Kalyani, 36, was produced in court via video conferencing. On Monday, she had applied for bail before a local court. Her plea will be taken up for hearing on July 8.
The UT administration's decision to appoint 33 medical officers (MOs) on deputation from Punjab, Delhi and Himachal Pradesh, and none from Haryana has not gone down well with the Haryana government. Highlighting its displeasure through a letter, the Haryana government has urged the UT administration to maintain the 60:40 ratio between Punjab and Haryana while filling up the vacant posts of MOs and dental surgeons. Till then, Haryana had not sent any panel of doctors.