Petrol price cut by Rs 2 a litre

Manmohan Singh approves Investment Tracking System to fast track project implementation

 

NEW DELHI: Amid declining growth rate and the need to arrest economic slowdown, Prime Minister Manmohan Singh today approved setting up of an Investment Tracking System to ensure speedy implementation of mega projects envisaging outlay of over Rs 1,000 crore.

The proposed mechanism is aimed at addressing delays in implementation of projects, said a statement from Prime Minister's Office (PMO).

While implementation of public sector projects of over Rs 1,000 crore will be tracked by the National Manufacturing Competitiveness Council, those in the private sector would be monitored by the Department of Financial Services in the Ministry of Finance.

 

Petrol price cut by Rs 2 a litre 

 

New Delhi, June 2: 

After a recent steep hike in petrol prices, the consumers have got some respite. The public sector oil marketing companies have cut petrol prices by about Rs 2.02 per litre (retail end in Delhi) with effect from midnight tonight. 

The reduction will vary-vary from state-to-state depending on the tax component. 

The cut has happened because of softening of petrol prices in the international market. Last week the companies the companies had raised petrol prices by Rs 6.28 a litre (excluding VAT/Sales Tax). This was the steepest hike ever which the country had experience. 

Gold crosses Rs 30,000-level, zooms Rs 960

NEW DELHI: Gold prices breached Rs 30,000 mark for the first time today on heavy buying by stockists and retailers amid strong overseas trend, triggered by global financial uncertainty which has increased the metal's appeal as a safe investment haven.

Gold shot up by a hefty Rs 960 to touch a record high of Rs 30,300 per 10 grams in line with global rally where it jumped the most in ten months.

Traders said gold, both of 99.9 and 99.5 per cent purity, recorded the biggest single day gain of Rs 960 each to Rs 30,300 and Rs 30,160 per 10 grams, respectively.