Petrol price was on Monday cut by Rs 3.05 per litre,the first reduction in rates in over five months and the steepest in over five years,while diesel prices were raised by 50 paise a litre. The price changes announced by oil companies are excluding local sales tax or VAT. Post the reduction,price of petrol in Delhi will stand at Rs 72.40 per litre,while it will cost Rs 79.49 per litre in Mumbai as against Rs 83.63 currently.
ECB use okay for many rounds of sell-off: RBI
The Reserve Bank on Monday said external commercial borrowings (ECBs) can be used to buy shares in multiple rounds of PSU disinvestment,a move to help the government raise Rs 40,000 crore from stake sales during 2013-14.
DoT panel report on spectrum auction today
The Department of Telecommunications panel,which reviewed sectoral regulator Trais recommendations on the third round of spectrum auction,is likely to submit its report on Tuesday to the telecom secretary,official sources said.
FinMin preparing for next Budget
The finance ministry has started preparations for Budget 2014-15 by asking Central ministries to come out with estimates of receipts and expenditure for 2014-15.
Open to acquisitions: Hero MotoCorp
After stringing up a series of technology tie-up,Hero MotoCorp says it is open to acquiring firms,including full-fledged two-wheeler makers,as part of its expansion strategy.