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    • Govt hikes excise duty on petrol by Rs 2.25, diesel by Rs 1

      It had last raised excise duty on petrol and diesel by Rs 1.50 a litre each to help it achieve the fiscal deficit target for this year on November 14.

    • IOC to bear subsidy burden of Rs 3,800 cr this year

      PK Goyal, director of finance at IOC, said that as per the official letter received by the Ministry of Petroleum, IOC’s share in the additional subsidy for upstream companies is only Rs. 2,300 crore but the company will still be having a subsidy burden of Rs 3,800 crore for this year.

    • Urea price decontrol on hold; to take place only in FY12

      Urea price decontrol has been put off till the next fiscal, finance ministry officials have told CNBC TV18’s Aakansha Sethi. This information comes at a time when the Group of Ministers (GoM) met and decided to ask the committee of secretary's to delve into the matter.

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