Tuesday, March 23, 1999
State budget raises petrol, diesel prices; scraps value-added tax
Petrol and diesel will be dearer in Maharashtra. The state budget has levied a hike of 63 paise on diesel, adding to the recently-imposed increase of Re 1 in the Union budget, and 44 paise on petrol.
Telecom group may dash firms' hopes on revenue-sharing
The Group on Telecom (GoT) headed by Jaswant Singh finalised their recommendations for the New Telecom Policy 1999 which will be submitted to the Prime Minister. The GoT, it is reliably learnt, has been able to resolve most of the issues regarding norms for fresh bidding in the sector.
Essar's delayed equity payment may hit Petronet pipeline debt plan
Essar Oil's delayed equity payment in Petronet India's Vadinar-Kandla pipeline could adversely affect the schedule of debt disbursement for the project. This is because 50% of the equity needs to be subscribed before the actual flow of debt can be effected.
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