New Delhi, April 26 : Monsoon is likely to be normal this year, said Science and Technology Minister S. Jaipal Reddy here Thursday.
The minister, releasing the India Meteorological Department's report, said the monsoon this year is likely to be 98 percent of the long-term average.
"All prediction models show that monsoon will be normal," the minister said, adding: "By and large, the drought-hit areas of Maharashtra, Gujarat and Karnataka are likely to get normal rain." (IANS)
The Indian Government has doubled its total budgetary allocation for the science and technology and earth sciences ministry for the 12th five year plan period, according to Union Science and Technology Minister S. Jaipal Reddy.
The Union Oil Ministry has informed the Prime Minister's Office (PMO) that the private firm, Reliance Industries has not agreed to an audit by the comptroller and auditor general (CAG) into its expenditures.
The $9-billion pipeline project between Turkmenistan and India has hit the bump as international companies have reportedly refused to take up the job unless they are awarded stake in Turkmenistan's gas fields.
The 1,680km pipeline will start from the energy-rich gas fields of Turkmenistan, run through Afghanistan and Pakistan, and will finally reach India. The project is also called TAPI project.
The government’s decision to cap supply of subsidised LPG at six cylinders per household per year will not be rolled back as it will hurt the entire economic reform process, a government source said.
Speaking on the condition of anonymity, the source said, “There is no change (in the September 13 decision). If we are to change this, then there will be a shadow (of rollback) cast on the recent reforms like FDI in retail.”
The New Exploration Licensing Policy (NELP) will be revamped before launching the next round of oil & gas blocks' auction to attract global energy giants, Petroleum Minister S. Jaipal Reddy said.
India's previous nine rounds of oil & gas block auctions under the NELP failed to attract global energy giants due to issues like tight government controlling on pricing, quantities to be sold to buyers nominated by it, as well as long delays in receiving approvals.
Union Human Resource Minister Kapil Sibal has asked the Petroleum Ministry to consider providing subsidised cooking gas (LPG) cylinders for Mid-Day Meal Scheme for at least the current financial year.
Mr. Sibal said that the Petroleum Ministry's decision to put a cap of six on the number of subsidised LPG cylinders per year would put a massive financial burden on the education department as they would have purchase additional LPG cylinders at market rates.
The Cabinet Committee on Political Affairs (CCPA) is most likely to announce an increase in prices of petrol, diesel, cooking gas and kerosene in the country.
The CCPA is expected to meet in a scheduled meeting on Tuesday. The prices of Diesel, domestic LPG and Kerosene within the Public Distribution Centre, have not been changed since June of 2011. The cost of these fuels has increased by 28 percent during the same time period.
An arbitral panel that includes two former chief justices, S P Bharucha and VN Khare, will try to resolev the dispute between Reliance Industries (RIL) and the ministry of petroleum and natural gas.The two sides have a disagreement over the recovery of cost for developing the eastern offshore KG-D6 gas fields. The Supreme Court had approved the setting up of the arbitral panel for the resolution of the dispute. Justice SS Nijjar has disposed a plea from RIL and said that the two arbitrators will appoint a third arbitrator and aim to resolve their differences.
Reliance Industries Ltd has agreed to share the KG-D6 accounting details with the CAG under the purview of the production sharing contract (PSC).
Oil Minister Jaipal Reddy has been asking the company to stat sharing the accounts with the CAG. The block's management committee is set to meet soon to discuss matters. The minister had asked the company to provide data for audit last month.
India’s Petroleum Minister, S. Jaipal Reddy has indicated that the government is not planning to raise diesel prices in the country.
He also expressed that the prices of LPG and kerosene are not likely to be increased. The issue was discussed at an Inter Ministerial Group meeting on inflation. He did not comment on the prospects of a partial roll back in the hike in petrol prices in the country.
Investors reacted coolly to the much hyped stake sale by the government in Oil and Natural Gas Corporation (ONGC), until the LIC stepped in to save the show.
Market analysts say that the floor price of Rs. 290 a share is to be blamed for the lukewarm response by investors. They say that the government should have set the market price at a discount to guarantee success of the auction.
The government is offering about 428 million of its shares in ONGC on Thursday, which will reduce its stake in the company from about 74 per cent at present to 69.1 per cent.
The state run oil maker has a market value of more than $49 billion. The stake sale, which will help the government get closer to achieving its target of generating Rs 40,000 crore from disinvestments, will happen on Thursday.
The governments of India and Pakistan have given their in-principle approval on having a uniform transit fee for wheeling gas from Turkmenistan.
The gas is to flow through the proposed $7.6-billion pipeline. The agreement for the plan is different from other transit proposals involving the two south Asian neighbors. The disagreements on transit fee as well as the prices of the fuel have stalled progress on other similar projects.
Petroleum minister S Jaipal Reddy on Thursday said that adulteration of diesel with kerosene can be prevented by using markers and GPS. He said that his ministry will re-introduce kerosene markers and ask state to fit satellite tracking systems on tankers used by civil supplies departments to transport the fuel.
He assured that central government will provide financial assistance and technology to state governments to avoid the diversion of subsidized Kerosene to adulterate diesel.
The new oil Minister, Mr. S Jaipal Reddy has said on Thursday that, the reply to the approval of Vedanta Resources' USD 9.6 billion acquisition of Cairn India will be given very soon.
Reddy has said that, the issues concerning Cairn-Vedanta have legal allusions so some of them have been referred to the law ministry for explanation. He has also said this after taking the control of the oil ministry. Earlier Murli Deora was the Union oil minister.
The decision on this deal was hanged for almost six months, however Reddy's response to questions showed that he was well versed with the issues complicated and the decision to be taken.
On Thursday, S. Jaipal Reddy the Urban development minister watched over the Delhi Development Authority's (DDA) verdict to fasten by builder Emaar-MGF, in spite of the concluding deteriorating to respect their promise connecting to the Games Village.
The planner fell petite of finances during the economic recession and had to be bailed out by the DDA that provided them an amount of R766.89 crore to facilitate them to conclude the work.
In the background of the projected national food security legislation, authenticity verification on food uncertainty in urban areas of 15 states has depicted an enhancement in 12 states while the circumstances have worsened in three states.
The majority inspiring enhancement has been observed in comparatively diffident states of MP, Orissa, Bihar, and UP, however the tale is severe in AP, Karnataka and Maharashtra, as per the Report on the Situation of Food Insecurity in Urban India, geared up mutually by the World Food Program and the M S Swaminathan, Research Foundation.
New Delhi, Jan 6 : Urban Development Minister S. Jaipal Reddy Wednesday said that all projects related to the 2010 Commonwealth Games would be completed by September.
"All projects will be completed by September and there is nothing to worry," Reddy said while replying to a query on the completion of Games-related projects on the sidelines of the inauguration of the new Yamuna Bank-Anand Vihar Metro line.
Commonwealth Games are scheduled to take place Oct 3-14 in the national capital. As many as 8,000 athletes, officials from 71 countries and nearly 100,000 visitors are expected to throng Delhi during the event.
New Delhi, August 26 : National Buildings Construction Corporation Limited (NBCC) on Tuesday presented a dividend cheque of Rs. 55.97 crore to Union Minister for Urban Development S. Jaipal Reddy.
The cheque was presented by the Chairman-cum-Managing Director of NBCC, Arup Roy Choudhury.
The company has declared a whopping gross profit of Rs. 418 crore with a total income of Rs. 2025 crore.
Reddy congratulated the NBCC team for scaling new heights and asked to maintain the status and standard of the largest Central Public Sector Undertaking (CPSU) in the construction and infrastructure sector.