India had changed its policy to allow the Indian Strategic Petroleum Reserves Ltd (ISPRL), which manages the federal oil inventories, to lease 30% of its overall 37 million barrels capacity to Indian and foreign companies
Indian Oil Corporation (IOC) has drawn a strategic growth path that aims to maintain focus on its core refining and fuel marketing businesses while making bigger inroads into petrochemicals, hydrogen and electric mobility over the next 10 years.
India's retail inflation has spiked sharply to 6.3 per cent in May after easing to 4.23 per cent in April, as per data released by the government on Monday. Retail inflation, measured by the Consumer Price Index (CPI), has jumped primarily due to higher food and fuel prices. It has breached the Reserve Bank of India's target range of 2-6 per cent for the first time in five months. Experts have expressed concern about higher inflation and the second wave of the Covid-19 pandemic, which has severely impacted lower and middle-income families. Watch the video for more.