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Newsmaker: Ramesh Chandra Agarwal
Vanita Kohli-Khandekar / Mumbai December 18, 2009, 2:33 IST http://smallpersonalloans.org.uk

Sunil Jain: Throwing money at the problem
India has a huge infrastructure problem and the solution so far appears to be to throw more money at the problem, without much effort to fix the core issues. A McKinsey analysis suggests India could lose up to around 10 per cent of GDP in the year 2017-18 due to shortage of infrastructure. While this is not a startling result, what is worrying is that the quality of expenditure has gone down with more money being spent. So, in the power sector, actual expenditures have fallen from 75 per cent of those planned in the 9th Plan period to a mere 58 per cent in the 10th one — roughly speaking, the 9th Plan was the NDA period and the 10th Plan the UPA’s first term.

News of the day

NTPC hits 52-wk high on disinvestment plans
The stock pared most of its gains and ended at Rs 236, up 1% from its previous close. The counter clocked volumes of 1.83 million shares as compared to the two-week daily average traded volumes of 1.20 million shares on the BSE.
Home Business

Oil firms cut ATF prices by 1.6%

For the second time this month, state-run oil companies today cut jet fuel prices to ease the burden on cash-strapped airlines. - Oil firms cut ATF prices by 1% - PSU oil firms hike ATF prices by 2.4% - Rising fuel costs make biomass energy unattractive - ATF prices slashed by 2.1% - Surajeet Das Gupta: Aviation's ground handling crisis">Surajeet Das Gupta: Aviation's ground handling crisis - GoM to study impact of jet fuel prices on aviation industry Aviation turbine fuel (ATF) prices in Delhi was reduced by Rs 649 or 1.6 per cent to Rs 39,319 per kilolitre, effective midnight tonight, an official of Indian Oil Corp, the nation"s largest oil firm, said today. On December one, IOC, Bharat Petroleum and Hindustan Petroleum had reduced jet fuel rates by one per cent on easing international oil prices. In Mumbai, ATF rates were reduced by Rs 677 to Rs 40,560 per kl. The two consecutive price reductions come on the back of 2.4 per cent increase in jet fuel prices last month. The three oil firms revise jet fuel prices on the first and the 16th day of every month based on the average global oil price in the previous fortnight. The ATF price in Kolkata has been cut by Rs 663 per kl to Rs 47,558 and that in Chennai by Rs 684 to Rs 43,354, the official said. Jet fuel constitutes roughly 40 per cent of the operating cost of an airline and the reduction in fuel rates would help ease the burden of Indian carriers, most of whom are loss making.


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