The Modi government decided to review the pricing formula keeping in mind public interest and recommendations of the Parliamentary Standing Committee, oil minister Pradhan said
The Indian government on Wednesday said it will come out with a new natural gas pricing formula by 30th September keeping in mind the interest of investors and public.
Replying to questions in Rajya Sabha, Oil Minister Dharmendra Pradhan said the National Democratic Alliance (NDA) government decided to review the pricing formula keeping in mind public interest and recommendations of the Parliamentary Standing Committee.
The Minister did not share details, but said the decision will be taken keeping in mind interest of investors and public and the formula will be announced by 30th September.
The previous United Progressive Alliance (UPA) government had in December last year decided to price all domestic gas from 1 April 2014 according to a formula suggested by the Rangarajan Committee.
The formula was notified on 10th January but before a new rate could be announced, general elections were declared and the issue was left for the new government to decide.
The new government on 25th June decided to defer the implementation till September-end to hold wider consultations.
The existing gas pricing under new exploration licensing policy (NELP) was approved in 2007 and was to remain valid up to March 2014.
For reviewing the formula, the government constituted a committee under C Rangarajan in May 2012 and based on the panel's recommendation, Domestic Natural Gas Pricing Guidelines, 2014 was notified in January this year.
The Rangarajan formula would lead to doubling of natural gas prices to $8.4 per million British thermal unit, an increase that would jack up urea production cost, electricity tariff and CNG rates.
How does one return a product for refund in the same condition as received if one intends on trying it out? Vaporin.com, which sells Vaporin e-cigarette products, says 'the items must be returned in the same condition as received', after trying it out!
Remember that prerequisite course in school where it was impossible to keep your eyes open for more than 10 minutes straight? Well, the course still exists, and you might already be enrolled.
A website’s terms and conditions is a lesson in tedium that spells out, among other things, a site’s policy and procedures concerning legal compliance, warranties, and third-party vendors. Sometimes, just by visiting a website, you are agreeing to its terms, i.e., you are already enrolled.
TINA.org lives in the terms, which we scour for red flags that could potentially lead to problems for consumers. While not everything we uncover makes an article, there are certain sections that stand out for their confusing nature and that’s what this continuing feature will share.
Our inaugural post comes from the terms and conditions that govern the website vaporin.com, which sells Vaporin e-cigarette products (It’s also one of those websites where just by visiting it, you agree to the terms). Says the terms:
Scratching your head? We are too. How does one return a product for refund in the same condition as received if one intends on trying it out?
Recent cases from the consumer courts should be eye-opening for consumers
Most of us...