Govt to appoint committee to review Rangarajan gas pricing formula

The government will appoint a committee under former Power Minister Suresh Prabhu to review a gas pricing formula approved by the previous UPA regime.

FP Archives|Jul 24, 2014, 14:50:21 IST

New Delhi: Nearly a month after it put natural gas price revision on hold, the government will appoint a committee under former Power Minister Suresh Prabhu to review a pricing formula approved by the previous UPA regime.[caption id="attachment_1632613" align="alignleft" width="380"]

Government will appoint a committee to review gas pricing formula. Agencies[/caption]The Cabinet headed by Prime Minister Narendra Modi had on 25 June deferred the implementation of the Rangarajan pricing formula, which would have doubled current gas rates to at least USD 8.4 per unit till 30 September for conducting a comprehensive review of the whole issue.The panel will comprise of Pratap Bhanu Mehta, President and Chief Executive of Centre for Policy Research and Bibek Debroy of the same institute, an Oil Ministry official said."Since we did not have time to appoint an expert group or engage organisations having some generic expertise in the area, a group of eminent persons is being set up," he added.The panel will be asked to revisit the Rangarajan formula and the possibility of applying the same in its present form or with modifications.PTI

CJP Protest in Delhi Live Updates: Heavy security deployed in Jantar Mantar ahead of student protests

CJP Protest in Delhi Live Updates: Heavy security has been deployed at the Jantar Mantar in Delhi, where the Cockroach Janta Party (CJP) is continuing its protest demanding the resignation of Union Education Minister Dharmendra Pradhan over the recent paper leaks controversy

1 min read

Bharat Forge, Flying Whales sign pact to develop 60-tonne airships for India’s defence logistics

Bharat Forge has signed an MoU with Flying Whales to jointly develop and manufacture 60-tonne heavy-lift airships in India for defence logistics, strategic mobility and disaster response

3 min read

Air India to cut Delhi-Toronto flight time by 3 hours, resume non-stop services from August 1

Air India will resume non-stop Delhi-Toronto flights from August 1, cutting travel time by nearly three hours and deploying its new Boeing 787-9 Dreamliner on the route

2 min read

J&K cop on Amarnath Yatra duty shot dead in Anantnag terror attack; TRF claims responsibility

The Resistance Front (TRF), a shadow outfit of Lashkar-e-Taiba, claimed responsibility for the attack through a social media post

2 min read

Jaishankar meets Canada's Anita Anand, discusses bilateral cooperation and shared interests

External Affairs Minister S Jaishankar on Wednesday held talks on bilateral ties with his Canadian counterpart Anita Anand, focusing on cooperation and common goals.