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Robust auto sales hold promise of good economic showing
Auto makers Maruti Suzuki, Hyundai and Hero Honda today reported robust sales in November, lending optimism that the good economic showing in the second quarter would continue.

GST may provide for rate changes outside Budget
The Centre and the state governments may retain the powers of reducing rates for the proposed goods and services tax (GST) without going through the Parliamentary process. Despite stability and uniformity of rates being the basis for the concept of GST, the model GST Bills are likely to have a provision for giving the governments the flexibility to bring down rates, though with a certain degree of discipline.

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GSPL to bid for mega gas pipeline projects
Gujarat State Petronet (GSPL) is set to bid for Mehsana to Bhatinda and Bhatinda to Jammu and Srinagar natural gas pipelines for which bids were invited by Petroleum and Natural Gas Regulatory Board (PNGRB).
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IOC to supply cleaner petrol, diesel to 13 cities from Apr 1

Indian Oil Corp, the nation"s largest refiner, and other state-run refiners will supply Euro -IV grade petrol and diesel in 13 big cities from April 1, but supply of the cleaner fuel to rest of the country may be delayed by three to six months. - IOC hires banks for first overseas bond sale - IOC appoints three merchant bankers - IOC wants 50,000 acres for biofuel cultivation in UP - Cash for OMCs to cut losses - Biodiesel producers agree to cut price, OMCs find it too high - IndianOil takes BOOT route for Paradip While petrol and diesel meeting the stringent Euro-IV specifications are to be supplied in 13 cities, including Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad and Ahmedabad from April 1, 2010, Euro-III grade fuel is to be supplied in rest of the country from that date. v"We have no problems in supplying Euro-IV petrol and diesel in 13 notified cities. But we have problems regarding Euro-III," IOC Chairman Sarthak Behuria said here. Since some refineries would not have upgraded to produce cleaner fuel by then, the three companies are seeking extension in the deadline for supply of Euro-III fuel, he said. "Petroleum Secretary (R S Pandey) has called a review meeting this week. We will know the next course of action then," he said. IOC"s Barauni refinery in Bihar and Digboi and Guwahati units in Assam faced about six-month delay in commissioning facilities to produce Euro-III norm compliant diesel. Its Koyali unit in Gujarat was one month behind while Hindustan Petroleum Corp"s Mumbai and Vizag refineries faced up to two years delay in commissioning facilities to produce Euro-III grade fuel. Chennai plant and Numaligarh refinery also faced between six to 10 months delay.


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