India approves hefty rise in gas prices

Now watching

Next video starts in : 7 Play

India approves hefty rise in gas prices


India approves hefty rise in gas prices
Replay video
Up next

Sesame Street Parodies 'Avengers: Age of Ultron'

Unlock your personal NFL Now stream by signing in to NFL.com

India approves hefty rise in gas prices

by Ani 1:11 mins

India approves hefty rise in gas prices

by Ani 1:11 mins

India took the unpopular step of approving a gas price rise for the first time in three years, a move which could inject much needed investment in local production but boost imports of more costly liquefied natural gas (LNG). The central government approved the proposal of the Rangarajan Committee, referring to a formula, which has produced indicative prices around double current levels. The move will be unpopular with voters as local and national elections loom in the next 12 months, but is key to easing acute power shortages in the country, where cheap gas deters investment and keeps demand way above actual use. Speaking to mediapersons in New Delhi on Friday, finance minister, P Chidambaram said that that the prices of output gas has been hiked and the rates of input gas, used for power and fertilizers production is yet to be determined. The new prices will come into effect from April 01, 2014.

Must Watch

Must Watch

  1. 1:44

    Sesame Street Parodies 'Avengers: Age of Ultron'

  2. 2:11

    Kim Kardashian Speaks On Bruce Jenner's Transition

  3. 0:59

    'Kurt Cobain: Montage of Heck' Trailer

  4. 0:56

    Drone video gives bird's eye view of Nepal devastation

  5. 3:23

    I Yahoo'd Myself: Jourdan Dunn

  6. 2:55

    Post-Game of Thrones: Season 5, Episode 3: 'High Sparrow'

Other Space

  1. 27:05

    Other Space Episode 1: Into the Great Beyond...Beyond

  2. 25:20

    Other Space Episode 2: Getting to Know You

  3. 25:51

    Other Space Episode 3: The Death of A.R.T.

  4. 25:46

    Other Space Episode 4: Ted Talks

  5. 26:44

    Other Space Episode 5: Trouble's Brewing

  6. 27:02

    Other Space Episode 6: Powerless

Community

  1. 27:26

    Community Episode 1: Ladders

  2. 27:26

    Community Episode 2: Lawnmower Maintenance and Postnatal Care

  3. 24:40

    Community Episode 3: Basic Crisis Room Decorum

  4. 30:58

    Community Episode 4: Queer Studies and Advanced Waxing

  5. 28:45

    Community Episode 5: Laws of Robotics and Party Rights

  6. 28:13

    Community Episode 6: Basic Email Security