ECONOMY

Monthly Archives: FEBRUARY 2016


Diesel costlier by Rs. 1.47; Petrol price cut by Rs. 3
29.02.16 - PT team
Diesel costlier by Rs. 1.47; Petrol price cut by Rs. 3



Diesel rates were on Monday hiked by Rs. 1.47 a litre — the second increase this month but petrol price was cut by Rs. 3.02 per litre, in line with global trends 

Petrol in Delhi will cost Rs. 56.61 per litre from midnight tonight as against Rs. 59.63.

A litre of diesel, however, will cost Rs. 46.43 a litre as compared to Rs. 44.96 per litre, according to Indian Oil Corp (IOC), the nation’s largest fuel retailer.

This is the 7th straight reduction in price of petrol.

Petrol price was last cut on February 18 by 32 paisa a litre.

On diesel, this is the second increase in rate this month. The price was hiked by 28 paisa a litre last time.

Prior to that revision, fuel rates were revised on February 1 when petrol price was cut by a marginal 4 paise a litre and diesel by 3 paise a litre after the government raised excise duty to take away most of the benefit arising from fall in international oil prices.

The government had raised excise duty on petrol by Re 1 a litre and that on diesel by Rs 1.50 to mop up additional Rs. 3,200 crore during the remainder of the current fiscal.

This was the fifth hike in excise duty since November that cumulatively gave the government Rs. 17,000 crore in additional revenue. The five levy hikes total to Rs. 4.02 per litre on petrol and Rs. 6.97 on diesel.

"The current level of international product prices of petrol and diesel and Rupee-US Dollar exchange rate warrant decrease in price of petrol and increase in price of diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said in a statement.

State-owned fuel retailers IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) revise rates of the fuel on 1st and 16th of every month based on average oil price and foreign exchange rate in the preceding fortnight.

The revision was due on February 16 but the retailers chose to defer it by a couple of days.

"The movement of prices in the international oil market and Rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” IOC added.




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Doubling farm income in five years just a statement – no roadmap: B S Mann
29.02.16 - PT Team
Doubling farm income in five years just a statement – no roadmap: B S Mann



CHANDIGARH: The finance minister today gave a statement that farm income will be doubled in five years. This is purely a statement which is not accompanied by a roadmap or a blueprint for achieving this target. This was stated by Bhupinder Singh Mann Ex MP, National President BKU and Chairman All India Kisan Coordination Committee. He said that the BJP had promised the farmers of this nation in its manifesto that the Swaminathan Report will be implemented. However immediately after coming to power, Modi government submitted a affidavit before the Supreme Court that the recommendations of Swaminathan Report cannot be implemented. This was the first betrayal by Modi government with the farmers.
 
Now again the Finance Minister has issued a vague statement that income of farmers will be doubled in five years. Interestingly, Prime Minister Narender Modi while speaking at a Kisan rally yesterday said that the farm income will be doubled in six years. The incoherent statements of PM and FM is itself a proof that it is a non serious statement.
 
Mann also pointed out that Rs. 15000 Crores set aside for debt relief of farmers is peanuts and in adequate to pull out the farmers from this deep crises. He  took a dig at the Finance Minister and said when you can simply waive off Rs. 114000 crores of the Corporate Sector which will benefit just a handful of rich people, why can’t you think for the benefit of farmers who are 60% of total population which is neck deep in the crisis.
 
However, Mann welcomed the 0.5% Krishi Kalyan cess which is proposed to be used for financing initiatives for improvement of agriculture and welfare of farmers.   
 
HE also expressed apprehension about other schemes which are supposedly for farmers but always end up being pocketed by the corporates through indirect ways with connivance of government machinery.      




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BlackBerry, Symbian and Windows devices won't have WhatsApp support
28.02.16 - PT Team
BlackBerry, Symbian and Windows devices won't have WhatsApp support



According to a blog post published a few days ago, WhatsApp will be withdrawing support for BlackBerry devices (BB10 included), Symbian 40, Symbian 60, Android 2.1 and 2.2 devices and Windows Phone 7.1 sometime this year.

WhatsApp wrote that the market right now comprises of 99% Android, iOS and Windows Phone 8 and above devices. They said that the decision was "not an easy one to make” and that the market has evolved. While other platforms will suffer, there is some respite for BB10 users as their devices are capable of running Android apps within the OS. They will, of course, lose out on Hub integration, but if they really want WhatsApp, that might be the only way.

"While these mobile devices have been an important part of our story, they don’t offer the kind of capabilities we need to expand our app’s features in the future.”, say WhatsApp. Finally, they add that, "This was a tough decision for us to make, but the right one in order to give people better ways to keep in touch with friends, family, and loved ones using WhatsApp. If you use one of these affected mobile devices, we recommend upgrading to a newer Android, iPhone, or Windows Phone before the end of 2016 to continue using WhatsApp.”

Switching to another platform might be a hard pill to swallow for lovers of BlackBerry and other mobile operating systems. But they will not be left with any other option.




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PSPCL adjudged “best Digital PSU” IN e-Punjab Summit
27.02.16 - PT Team
PSPCL adjudged “best Digital PSU” IN e-Punjab Summit



PATIALA : Punjab State Power Corporation Limited has been adjudged as "Best Digital PSU” in the e-Punjab summit organised by Department of Governance Reforms, Govt of Punjab. The award was presented to .K.D.Chaudhri, Chairman cum Managing Director, PSPCL by Kaptan Singh Solanki, Governor of Punjab.
 
Chaudhri informed that the award has been given based on multiple parameters of e-Governance. PSPCL has been leading company to make huge investments in IT sector for providing best of services to its consumers in Punjab.
 
The successful working of single number 1912 all over Punjab for registration and resolution of electricity complaints wherein SMS services has also been added & third party feedback is taken to get true picture of consumer services and making all 47 towns GO LIVE under R-APDRP (part-A) scheme by IT professionals of PSPCL on its own have become major parameters of selection of PSPCL as Best PSU.
 
Other parameters such Automated Meter Reading of Grid Sub Stations/Distribution Transformers, GIS mapping of 26 lacs consumers, bringing down the T&D losses, efficient billing & multiple online bill payment facilities, Single window system for online application and release of electricity connections of more than100KVA have also formed the basis of selection of PSPCL as Best PSU in e-Governance.
 
Chaudhri informed that PSPCL has brought maximum transparency in its working, making efforts to go paperless to save environment, making continuous efforts to provide best of services to electricity consumers of Punjab.
 
CMD said that soon PSPCL will introduce services through m-Governance also. Many mobile applications are being prepared through which consumers will be able to pay bill from anywhere through mobiles, apply for new electricity connections, apply for reduction/extension of load, change of name, bill challenge, meter challenge, accessing supply schedule and details power shutdowns if any through mobiles.




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Intex launched smartphone Aqua Craze 4G at Rs 6,190
25.02.16 - PT Team
Intex launched smartphone Aqua Craze 4G at Rs 6,190



Intex has expanded its 4G smartphone range with another budget addition, Aqua Craze. The Aqua Craze 4G is available at a price of Rs 6,190.
 
The Intex Aqua Craze 4G features a 5-inch HD display with a resolution of 1280 x 720 pixels. Under the hood, there is a 1GHz quad-core processor coupled with 1GB RAM and 8GB expandable storage.
 
"The affordable 4G smartphone has features which will leave the consumers spellbound. We are honoured and delighted that this latest offering from Intex has been launched by the honorable Secretary, DoT.
 
This will surely act as an impetus for us and encourage us further in our "Make in India” journey,” said Sanjay Kumar Kalirona, Mobile Business Head, Intex Technologies.
 
On the camera front, Intex Aqua Craze 4G comes with a combination of 8MP rear camera and 2MP front camera. The smartphone is backed by a 2500mAh battery with a standby time of 7 days.
 
The Intex Aqua Craze 4G is 8.95mm thick and runs Android 5.1 Lollipop. The smartphone will be available in Grey, White and Champagne Gold colour variants.
 
Courtesy : The Indian Express




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