in small amounts every month starting Friday in an attempt to prop up public finances without causing a popular backlash before elections.
The government has called for increases of about 1 U.S. cent per litre each month, a source at one of the oil retailers with direct knowledge of the development told Reuters on Thursday.
Bulk buyers will have to pay market rates for diesel, which accounts for 40 percent of fuel consumption in the country, the source, who requested anonymity, said.
India slapped a duty of 2.5 percent on imports of crude edible oils on Thursday, aiming to hold down purchases by the world's top vegetable oil buyer after No. 2 producer Malaysia set export tax at zero in a battle for market share with rival Indonesia.
Reliance Industries Ltd is yet to finalise a concrete plan of action to launch its much-hyped 4G technology services, according to sources from the company, industry and the vendor community.
India's third stock exchange, MCX-SX, is all set to launch equity trading on its platform on Feb. 9, according to sources.
Finance Minister P Chidambaram will ring the opening bell at MCX-SX in Mumbai, government officials in New Delhi said, and other sources said event organisers have been asked to block dates during February 8-15 to accommodate any last minute changes in the finance minister's plan.
The Indian affiliate of global accounting firm PricewaterhouseCoopers was questioned on Thursday by tax authorities looking into possible tax evasion by
The Cabinet Committee of Economic Affairs on Thursday authorised the National Investment Fund to buy shares of public sector enterprises, including banks and insurance companies.
Wipro Ltd posted an 18 percent gain in quarterly profit, joining bigger rivals Tata Consultancy Services Ltd and Infosys Ltd in reporting better-than-expected earnings. India's $100 billion IT outsourcing sector, which earns the bulk of its revenue from exports of software services, won a long-sought and favourable clarification over the tax treatment of some of the money it earns overseas.
Hero MotoCorp Ltd missed estimates for the fourth