Govt. cuts CNG, PNG prices

CNGJust a few days after raising the quota of subsidised LPG from 9 cylinders to 12, the government gave another big respite to consumers by slashing the prices of compressed natural gas (CNG) and piped natural gas (PNG).

The government on Monday announced a cut of Rs. 15 per kg, or nearly 30 per cent, in price of CNG. The price of PNG was slashed by Rs. 5 per cubic metre, or nearly 20 per cent.

Govt. gets bids of Rs 42K crore on first day of 2G spectrum auction

2G spectrum auctionThe government received bids of around Rs 42,000 crore on the first day of 2G spectrum auctions on Monday, February 3. According to recently released official figures, telecom operators made bids of Rs 41,918 crore, much higher than the government's initial estimated figure of Rs 11,300 crore.

As the estimated collection exceeded the target on the very first day of the auction, it must have brought a great respite for the government, which has long been struggling to fund its fiscal deficit.

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