Companies & Sectors
Hydrocarbon blocks' auction policy likely by fiscal-end
The new policy for auction of oil and gas blocks is likely to be finalised during the ongoing financial year, Petroleum Minister Dharmendra Pradhan said on Tuesday.
 
"We have brought this consultation paper and suggestions will come in by November 30. We will make the policy after considering all the views and take it to the Cabinet. It will be our endeavour to make the policy during this financial year only," Pradhan told
reporters here. 
 
He was speaking on the sidelines of the industry chamber CII organised Bio-Energy Summit 2015.
 
"There were suggestions on the issue from institutions like CAG (Comptroller and Auditor General). To make new bidding round more progressive, transparent
and market friendly, we have brought in this consultation paper," he added.
 
Towards easing doing business in exploration, the government on Monday proposed to free domestic natural gas pricing and replace the existing production sharing contract by the revenue-sharing model for all future acreage auctions.
 
"It is proposed to provide pricing and marketing freedom for the natural gas to be produced from the areas to be awarded under the new contractual and fiscal regime to incentivise production from these areas," the petroleum ministry said on its website.
 
The ministry has also invited comments from stakeholders on a consultation paper on new fiscal and contractual regime for award of hydrocarbon acreages.
 
"In the recently announced marginal field policy, the government has provided pricing and marketing freedom for the natural gas," it added.
 
In September, the Cabinet Committee on Economic Affairs had approved a landmark change in India's hydrocarbons exploration regime, sanctioning the auction of 69 small and marginal oil fields of state-owned ONGC and Oil India to private and foreign firms.
 
"For the first time, a revenue-sharing model is being approved in place of production-sharing contract," Pradhan had told reporters here.
 
Under the proposed regime companies offering the maximum revenue share or percentage of oil and gas to the government, and committing to do more work, will win the field.
 
As per current practice, the companies get blocks by bidding the maximum work programme, and recover all their investment before sharing profits with the government, which had been criticised by the CAG.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Remove Modi to improve India-Pakistan relations: Mani Shankar Aiyar
Talks between India and Pakistan can move forward only if Prime Minister Narendra Modi is removed from his post, Congress leader Mani Shankar Aiyar has told a Pakistani television channel.
 
"First, it is required to remove Modi, otherwise talks will not move forward. We'll have to wait for four years. These people are very optimistic about Modi, they think that talks will move forward with Modi's presence. But I don't think so," Aiyar told Dunya TV.
 
After last week's Paris terror attacks, Aiyar had said "anti-Islam phobia that is being carried out in the western countries should be stopped immediately".
 
On his remarks about prime minister, Minority Affairs Minister Najma Heptulla said: "Perhaps Mani Shankar Aiyar forgot that Modi ji was elected by the people. It is a reprehensible comment and we condemn it."
 
On Congress distancing from Aiyar, Heptulla said: "This is a good strategy of the Congress. First, you make them pass a statement, and then distance from it. How dare he make such statement on a Pakistani television? I know what goes on in Congress party. When they say they are distancing from the remark, I don't believe it."
 
BJP spokesperson Meenakshi Lekhi said: "Some people are behaving and conducting themselves as propagandists for ISIS (Islamic State) and Taliban. We need to watch out for fringe elements in India."
 
Citing example of Samajwadi Party, which quickly distanced itself from its leader Azam Khan's controversial comments on the Paris attack, Lekhi asked why the Congress failed to condemn Aiyar's remarks?
 
"At a time when the entire world stood up to condemn the Paris attack, Mani Shankar Aiyar and Salman Khurshid were speaking ill of our prime minister on foreign land. When Azam Khan remarked on Paris attacks, the SP was sensible to criticise what he said. But the Congress has not condemned him yet," Lekhi said.
 
Khurshid, a former external affairs minister, praised Pakistani Prime Minister Nawaz Sharif recently and criticized Prime Minister Modi during his invitation lecture at the Jinnah Institute in Islamabad last week. 
 
"Modi is not used to talking to people who disagree with him," Khurshid had said.
 
Speaking about Sharif attending Modi's swearing-in ceremony in India, Khurshid said, "If you look back at the first face-to-face between our PMs, your PM took a brave, farsighted decision. If there has been a leader of democratic Pakistan who wanted peace with India, it is (Sharif, who) was the first non-military (Pakistani) leader to try for peace."
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Jyoti Dua

1 year ago

Persons like Manishankar and Khurshid are best helping BJP and digging grave for congress by their such remarks.

Ashok Singhal, man behind Babri razing, is dead
VHP leader Ashok Singhal, who was one of the key architects of the mass campaign that led to the razing of the Babri mosque in 1992, died here on Tuesday. He was 89.
 
In an acknowledgement of his stature in the Hindutva movement, Prime Minister Narendra Modi called Singhal’s death at a hospital here “a deep personal loss” and described him as “an institution in himself”.
 
Singhal, whose aggressive championing of a Ram temple at the Babri Masjid site in Ayodhya helped the BJP to scale new heights, breathed his last at Medanta-The Medicity, doctor Yatin Mehta told IANS.
 
“He passed away at 2.20 despite our best efforts,” the doctor said. 
 
Singhal was admitted to the hospital on November 13 with heart and kidney problems. He was also suffering from breathlessness. He will be cremated here on Wednesday afternoon.
 
The VHP leader was earlier admitted to the hospital for a fortnight from October 20.
 
A passionate votary of Hindutva, the Agra-born Singhal, son of a government official, joined the Rashtriya Swayamsevak Sangh (RSS) in 1942. 
 
He worked mainly in Uttar Pradesh, Delhi and Haryana before the RSS deputed him to one of its then lesser known affiliates, the Vishwa Hindu Parishad (VHP), in 1980.
 
Singhal became its working president in 1984, the year the VHP organised a “Dharam Sansad” (Religious Parliament) which sowed the seeds for the emotive campaign to destroy the 16th century Babri mosque - that Hindutva votaries said was built at the site where Lord Rama was born.
 
1984 was also the year when the Bharatiya Janata Party bagged just two seats in the Lok Sabha after prime minister Indira Gandhi’s assassination.
 
Singhal’s aggressive promotion of the anti-Babri movement made him one of the best known faces nationally, and gave oxygen to the BJP to raise its Lok Sabha tally to 89 in 1989.
 
Even as the BJP, under L.K. Advani’s leadership, came out openly in support of the Ram Mandir movement, Singhal led a massive crowd during the first assault on the Babri Masjid on October 30, 1990.
 
That bid was beaten back by security forces. But the unrelenting VHP eventually brought down the Babri Masjid in just six hours on December 6, 1992, triggering one of the worst outbreaks of Hindu-Muslim violence.
 
Unlike most BJP leaders who distanced themselves from the Babri razing, Singhal remained proud of the destruction - and vowed to end, one day, the secular character of the country that he said must be a “Hindu Rashtra”.
 
Critics dubbed him a Hindu fundamentalist and India’s Ayatollah Khomeini. But Singhal - who held a bachelor’s degree in metallurgical engineering from the Banaras Hindu University Institute of Technology - made it clear that issues related to Hindu faith cannot be decided by the judiciary.
 
At home both in English and Hindi, Singhal was widely respected for his mastery over ancient Hindu scriptures. He was at ease in the company of Hindu ascetics and was a strong votary of the movement to build a grand Rama temple on the ruins of the Babri mosque.
 
He was deeply unhappy over BJP leader Atal Bihari Vajpayee’s refusal to embrace Hindutva ideology after becoming the prime minister. The VHP leader beamed when Narendra Modi became the prime minister in 2014.
 
On Tuesday, after Singhal’s death, Modi said he was “an inspiration for generations”.
 
“I was always fortunate to receive Ashokji’s blessings and guidance. My condolences to his family and countless supporters,” Modi tweeted.
 
BJP MP Subramanian Swamy said Singhal brought about “Hindu unity” and “a great change in Hindu mentality”. The MP added: “It will be a true tribute to Singhal if (Rama) mandir is built (in Ayodhya).”
 
VHP spokesman Surendra Jain told IANS: “Singhalji was a great visionary. We will take forward his vision for fulfil his dreams.”
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Anand Vaidya

1 year ago

You mean the illegal mosque constructed by Islamic invaders after razing down Ram Janmabhoomi Temple. Is that right?

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