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1 Paisa cut in petrol, diesel prices after daily hikes for 16 days

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A feeling of minor relief to consumers – from announcement of price cut of 60 paise per litre for petrol and 56 paise per litre for diesel – proved short-lived as the ‘error’ was corrected to say the prices have been brought down by just 1paisa.

The official website of Indian Oil Corporation (IOCL) said in the morning that petrol and diesel prices have been cut by 60 paise and 56 paise per litre respectively.

Petrol and diesel prices were actually cut by 1 paisa per litre each in the capital city of Delhi on Wednesday instead of a bigger cut that was reported earlier by India’s largest fuel retailer. The big cut in petrol prices, initially touted as a major relief for the common man, turned out to be a comic relief after IOC’s website corrected the prices, clarifying it was only a 1 paisa cut.

“The reduction was supposed to be 1 paisa but due to a clerical error the price prevalent on May 25 was communicated as today’s price,” news agency Press Trust of India cited a senior official of Indian Oil Corporation as saying.

For what it is worth, this is the first time in 16 days that prices have been cut since May 14 when fuel retailers ended a 19-day pre-Karnataka poll hiatus to pass on a spike in global oil rates. In all, petrol price was increased by Rs 3.8 per litre and diesel by Rs 3.38 in that fortnight.

According to the revised prices published, one litre of petrol retailed at Rs 78.42 in Delhi; Rs 81.05 in Kolkata; Rs 86.23 in Mumbai; and Rs 81.42 in Chennai, all implying a 1 paisa cut from yesterday’s prices, said media reports.

Petrol and diesel prices were hiked yesterday for the 16th day in a row, by 15-16 paise. According to Indian Oil website, petrol price in Delhi was Rs 78.43 a litre on 29 May 2018; Kolkata — Rs 81.06 a litre; Mumbai — Rs 86.24 a litre; Chennai — Rs 81.43 a litre. Diesel price in Delhi was Rs 69.31 a litre on 29 May 2018; Kolkata — Rs 71.86 a litre; Mumbai — Rs 73.79 litre; Chennai — Rs 73.18 a litre. In Mumbai, the price rose beyond the Rs 86 mark on Monday.

Meanwhile, according to a report in The Financial Express (FE), petrol and diesel prices in Kerala are set to come down following the state cabinet decision to slash retail VAT on fuel on Wednesday. TV news channels reported that the revised fuel prices could be revealed later today, Wednesday, May 30. With this left-ruled Kerala has become the first to slash taxes on fuel prices after the recent rally.

Prices vary from state to state depending on local sales tax or VAT. Delhi has the cheapest price among all metros and most state capitals.

The marginal reduction of 1 paisa per litre comes in the wake of some softening in global crude prices.

The fuel price cut, though modest, apparently came after it was learnt that rising prices of fuel are likely to weigh on the Reserve Bank’s rate-setting panel, Monetary Policy Committee (MPC), at its 3-day meet from June 4, according to a FE report. This is the first time that the Monetary Policy Committee will meet for three days due to “administrative exigencies”, reported FE. In the normal course, it meets every two months for two-days before making public its monetary policy stance.

“The MPC will meet on June 4-6, 2018 for the Second Bi-monthly Monetary Policy Statement for 2018-19. The resolution of the MPC will be placed on the website at 2.30 pm on June 6, 2018,” the Reserve Bank of India said in a statement today. The MPC was originally scheduled to meet on June 5, but the meeting has been advanced by a day. The monetary policy review will take into account the retail inflation which rose to a 4-month high of 3.18 per cent in April mainly on account of increasing prices of petrol and diesel. RBI mainly factors in retail inflation, based on the Consumer Price Index (CPI), while deciding the key interest rate.

The continued increase in domestic petrol and diesel prices in the past 16 days was a result of higher global crude oil prices along with weakness in the rupee against the US dollar, among other factors. The government had said last week that it was looking at short-term as well as long-term solutions for rising domestic fuel prices, NDTV reported.

Weakness in the rupee against the US dollar also puts pressure on domestic petrol and diesel prices. The rupee is down more than 6 per cent against the greenback so far this year, said a NDTV report.

Petrol and diesel prices in India are linked to Singapore gasoline prices and Arab Gulf diesel prices, which mostly track movements in crude oil prices. Crude oil prices fell to about $75 a barrel as Saudi Arabia and Russia said they were ready to ease supply curbs that have pushed crude prices to their highest since 2014, news agency Reuters reported.

The opposition has, however, criticised the Modi government for raising taxes to keep fuel prices high despite the crude oil prices being much lower than under the previous UPA government.1 Paisa cut in petrol, diesel prices after daily hikes for 16 days

Congress chief Rahul Gandhi told Prime Minister Narendra Modi it was “not a suitable response to the #FuelChallenge” that he had thrown at the PM. He also wondered if it was a prank, then it was childish and in poor taste.

In a tweet addressed to Prime Minister Modi, Gandhi said: “Dear PM, You’ve cut the price of Petrol and Diesel today by 1 paisa. ONE paisa!?? If this is your idea of a prank, it’s childish and in poor taste. P.S. A ONE paisa cut is not a suitable response to the #FuelChallenge I threw you last week.”

Earlier, Gandhi had dared Modi to either cut down fuel prices or be ready to face a nationwide agitation by the party.

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Google restores delisted Indian apps after government intervention

Google on Saturday restored all Indian apps it had removed.

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Google has started to restore all the delisted Indian mobile apps on Play Store agian, which they had removed due to a disagreement over service fees. After a discussion between company representatives and IT Minister Ashwini Vaishnaw, the decision was made, according to sources.

The step was taken in response to Vaishnaw’s strong statement in which he said that it is not allowed for apps to be removed from the Google Play Store. The minister had said, India is very clear, our policy is very clear…our startups will get the protection that they need.

Vaishnaw  continued saying that he has already given Google a call. They will be speaking with the app developers who were delisted this week. This is not acceptable. The minister said this kind of delisting cannot be permitted.

Ten Indian companies’ apps were banned by Google on Friday, causing outrage in one of its fastest-growing markets. With 94% of phones running on its Android platform, Google holds a large portion of the Indian market. Popular names like Naukri and Bharatmatrimony were on the list.

The main point of contention is Google’s in-app purchase fees, which range from 11% to 26%. Indian startups have long opposed the US tech giant’s actions, believing them to be unfair.

The founder of Bharat Matrimony, Christian Matrimony, Muslim Matrimony, and Jodii, Matrimony.com, expressed shock at the matchmaking apps’ removal from the Google Play Store.

Shaadi. Com CEO Anupam Mittal described it as a dark day for India’s internet, highlighting the possible broad effects on matchmaking services. He also called Google an evil.

While, Kuku FM Co-founder Vinod Kumar Meena in a statement had said that Google was behaving like a monopoly.

Meanwhile, Google temporarily withdrew the famous Indian payments app Paytm from the Play Store in 2020, claiming a few policy infractions. Due to this decision, the founder of the company as well as the larger startup community came together to build their own app stores and file lawsuits against Google.

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Anant Ambani says he is 100% lucky to get Radhika Merchant in his life

Anant Ambani said he was grateful to get Radhika as his life partner. He said he is 100% lucky to get Radhika Merchant in his life. He said every day he is falling more and more in love with her. He added although he had known Radhika for the last 7 years, it felt he had met her only yesterday. He thanked Radhika for everything.

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Anant Ambani and Radhika Merchant’s grand three-day wedding celebrations began with a glamorous cocktail night on Friday in Jamnagar. During the celebrations, Anant Ambani also gave a speech wherein he thanked his late grandfather Dhirubhai Ambani and grandmother Kokilaben Ambani for inspiring him. Anant Ambani said he was grateful to get Radhika as his life partner. He said he is 100% lucky to get Radhika Merchant in his life. He said every day he is falling more and more in love with her.

He expressed his gratitude to his mother for pulling together the lavish three-day wedding celebrations in Jamnagar. Anant thanked his mother for all she had done. He said all the arrangements had been done by his mother and nobody else. He added his mother had gone all out and she had worked 18-19 hours a day and he was extremely grateful to her.

He also thanked all the guests who were present there at the pre-wedding celebrations. He said everyone had made it to Jamnagar to make him and Radhika feel special. He said both of them were honored and humbled to have all of them present there. Anant said he was sorry if they had caused an inconvenience to anyone. He asked for forgiveness. He hoped everyone is going to enjoy the coming three days. He also thanked his mother, father, sister, brother, his sister-law and his brother in-law for making this event memorable.

Anant said everyone has been sleeping for less than 3 hours a day for the last 2-3 months and he was very happy to share this joy with everyone. The youngest Ambani talked about his personal struggles and how his parents had always supported him. He further added his life had not been entirely a bed of roses. He said he had also experienced the pain of thorns. He said he had faced many health crises.

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Facebook chief Mark Zuckerberg shares pictures from 2nd day of Anant Ambani and Radhika Merchant pre-wedding celebrations

Zuckerberg shared pictures from the 2nd day of Anant Ambani and Radhika Merchant’s pre-wedding celebrations. In the photograph Mark Zuckerberg can be seen along with his wife Priscilla Chan. The couple is exuding happiness as they prepare for the event. He captioned the picture it is getting wild out here.

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Facebook boss Mark Zuckerberg and wife Priscilla Chan joined the star- studded pre-wedding celebrations of Anant Ambani and Radhika Merchant in Jamnagar on Friday. The event was attended by many prominent figures from different fields. Zuckerberg took to his Instagram handle congratulated the couple and said he loved Indian weddings.

Zuckerberg shared pictures from the 2nd day of Anant Ambani and Radhika Merchant’s pre-wedding celebrations. In the photograph Mark Zuckerberg can be seen along with his wife Priscilla Chan. The couple is exuding happiness as they prepare for the event. He captioned the picture it is getting wild out here.

The theme of the opening day of the pre-wedding celebrations was Evening in Everland as the guests wore cocktail attire. The first day of the grand celebrations elevated the expectations of the guests for the following days. The theme of the 2nd day of the pre-wedding bash is known as a Walk on the Wildside and the guests can be seen in Jungle Fever attire.

Zuckerberg has opted for an animal print shirt with white trousers, Chan is complementing his look in a strappy one piece in black and golden. The Jungle theme is aligned to Vantara, Reliance’s animal welfare initiative undertaken and launched by Anant Ambani a few days back.

International pop star Rihana electrified the pre wedding celebrations on Friday with an amazing performance, marking her debut appearance in India. The chart topping artist engaged the audience with performances of her iconic hits which included Pour it Up, Work and Diamonds.

Zuckerberg graced the opening day, wearing a black-on-black firefly blazer and shoes from Alexander McQueen while his wife Priscilla wore a black gown with gold flower details and other accessories such as dainty chain bracelet, gold necklace and stud earrings. Mark Zuckerberg and wife Priscilla Chan are one of the Power couples invited from the global business community for the festivities currently underway at Jamnagar.

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