Left says no to petrol price hike
New Delhi: The Left parties have strongly opposed any petro product price hike. The Petroleum Ministry has presented them with a proposal to hike petrol, diesel and kerosene prices by Rs5 per litre and cooking gas by Rs50 per cylinder against the required increase of Rs9.33 per litre for petrol, Rs10.43 per litre on diesel, Rs17.16 per litre on kerosene and cooking gas by Rs114.45 per cylinder, if domestic prices are to be brought in parity with import costs.

The Ministry said the required increase was necessary to protect oil companies from suffering severe losses. The Left leaders instead suggested duty reductions and wanted the Finance Ministry to release at least part of the money collected as cess to the Oil Industry Development Board (OIDB). The Left leaders argued that the intention should be to see how to minimise the burden on the consumer.

The Petroleum Minister, Mr Murli Deora, who has been against any increase in prices of cooking gas and kerosene, said that he was to meet the Finance Minister, P. Chidambaram, soon to discuss the issue of petroleum product pricing.
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Robust growth in manufacturing: CII
New Delhi: The country's manufacturing industry reported robust growth last fiscal, according to a survey carried out by Associations Council of the Confederation of Indian Industry (ASCON).

Of the 143 sectors reporting production, 36 sectors recorded growth rate exceeding 20 per cent, 36 sectors recorded growth rate of 10-20 per cent, 56 sectors registered a growth rate of 0-10 per cent while 15 sectors reported negative growth, according to the survey.

Lead and lead alloy, pig iron, switchgears, capacitors, aluminium extrusions, auto components, industrial valves, fluid power, boilers, air and gas compressors, sugar machinery, machine tools, textile machinery and split air-conditioners among others recorded a growth rate exceeding 20 per cent, according to the survey.

Chemical alkali, paints, sponge iron, motor stampings, circuit breakers, precision tubes, and industrial furnace sectors recorded growth rate of 10-20 per cent, according to the survey.

Of the 76 sectors reporting sales, 25 sectors registered growth rate exceeding 20 per cent, 24 sectors registered a growth rate of 10-20 per cent, 23 sectors reported 0-10 per cent growth rate while 4 sectors recorded low or negative growth, according to the survey.
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