Daily Crude oil price of Indian Basket was US$ 63.61/bbl on 30.04.2015

Daily Crude oil price of Indian Basket was US$ 63.61/bbl on 30.04.2015

The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas has reviewed international prices of crude oil and petroleum products during the last month of April 2015. In the case of PDS Kerosene and Domestic LPG (Cash Subsidy under DBTL), the under-recoveries for the month of May 2015 will be Rs 16.32 per litre (Rs 15.73 per litre in last month) and Rs 198.18 (Rs. 203.18 per cylinder in last month) respectively.

Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs)

Product	Unit	Under-recoveries effective 01.05.2015 ( Previous fortnight effective 01.04 2015)
PDS Kerosene*	Rs/Litre	16.32* (15.73)
Domestic LPG	Rs/Cylinder	198.18 ** (203.18)

*Inclusive of the quantum of erstwhile Fiscal Subsidy Scheme 2002 i.e. Rs 0.82/Litre.

** Cash Subsidy is for Delhi market.

The under-recoveries for the full year 2014-15 has been Rs 72,314 crore. The figure was Rs 1,39,869 crore for full year in the 2013-14.

Regarding daily international crude oil price of Indian Basket as published today, the price was US$ 63.61 per barrel (bbl) on 30.04.2015 as against US$ 62.25 per bbl on 29.04.2015. In rupee terms, the price of Indian Basket increased to Rs 4044.32 per bbl on 30.04.2015 as compared to Rs 3934.20 per bbl on 29.04.2015. Rupee closed weaker at Rs 63.58 per US$ on 30.04.2015 as against Rs 63.20 per US$ on 29.04.2015.

The table below gives details in this regard:

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Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others – Palm Oil, Crude Palmolein, RBD Palmolein, Others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver Notified

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs(CBEC), being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely:-

In the said notification, for TABLE-1, TABLE-2, and TABLE-3, the following Tables shall be substituted namely:-

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Auction for Sale (Re-Issue) of Government Stocks

The Government of India have announced the Sale (issue/re-issue) of (i) “7.68 per cent Government Stock 2023” for a notified amount of Rs. 3,000 crore (nominal) through price based auction, (ii) “new security maturing on March 19, 2030” for a notified amount of Rs. 7,000 crore (nominal) through yield based auction, (ii) “8.24 per cent Government Stock 2033” for a notified amount of Rs. 3,000 crore (nominal) through price based auction, and (iv) “8.17 per cent Government Stock 2044” for a notified amount of Rs. 3,000 crore (nominal) through price based auction. The auctions will be conducted using multiple price method. The auctions will be conducted by the Reserve Bank of India (RBI), Mumbai Office, Fort, Mumbai on May 08, 2015 (Friday).

Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on May 08, 2015. The non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. and the competitive bids should be submitted between 10.30 a.m. and 12.00 noon.

The result of the auctions will be announced on May 08, 2015 and payment by successful bidders will be on May 11, 2015 (Monday).

The Stocks will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India (RBI) vide circular No. RBI/2006-07/178 dated November 16, 2006 as amended from time to time.

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CBEC makes Amendments to Notification Concerning Exchange Rates of Foreign Currency

In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Custom (CBEC)s hereby makes the following further amendments in the Notification of the Government of India, Ministry of Finance (Department of Revenue) No. 38/2015-CUSTOMS (N.T.) dated the 16th April, 2015 published in the Gazette Of India, Part-II, Section 3, Sub-Section (ii), Extraordinary vide number S.O.1028 (E) dated, the 16th April, 2015, namely:-

In the SCHEDULE-I of the said Notification, for Serial No. 4, 5, 9, 10 and 14 and the entries relating thereto, the following shall be substituted, namely:-

SCHEDULE-I