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Mumbai - Finance Minister Arun Jaitley Wednesday said controlling food inflation, which has been consistently hovering around the double-digit mark, is a "top priority" for the government.

"Food inflation will be a challenge and a top priority for the government," he said, speaking at an event.

He said tackling food inflation, which came in at 9.56 percent in July, will "always be a challenge".

New Delhi - The government on Wednesday deferred a decision on its stake sale in three PSUs -- ONGC, Coal India and NHPC as Finance Minister Arun Jaitley was not in town.

The Cabinet Committee on Economic Affairs did not take up the disinvestment proposals as the minister concerned was not present, Law Minister Ravi Shankar Prasad told reporters here after the CCEA meeting.

As per estimates, disinvestment in the three PSUs could yield the exchequer over Rs 40,000 crore, enough to meet the target for the current fiscal.

New Delhi - Reliance Industries will save about USD 450 million annually by importing 1.5 million tons ethane from US for its petrochemical plant, says a report.

Imported Ethane will substitute its current propane imports and a portion of naphtha used for ethylene production.

"Given depressed US ethane prices and rising production, we estimate an annual saving of USD 450 million from this feedstock substitution from FY18," CLSA said in a research report.

New Delhi, Aug 27 : Prime Minister Narendra Modi today set up a committee to identify obsolete laws within a time frame of three months.

He called for a focused and result-oriented exercise to systematically weed out archaic laws and rules. The Committee will also examine Acts and Rules which may have become obsolete within the last ten to fifteen years. The newly-constituted Committee will examine all Acts recommended to be repealed by the Committee on Review of Administrative Laws, which had been appointed by the Union Government of Atal Bihari Vajpayee in 1998.

New Delhi, Aug 27 : Narendra K Verma today took charge at the Oil and Natural Gas Corporation Limited (ONGC) Videsh as its Managing Director.

Verma has been the Director (Exploration) of the Maharatna ONGC since April 2013, after having a career spanning more than three decades with the oil major.

Prior to joining the Board of Directors of ONGC, he was the Director (Exploration) for ONGC Videsh Limited, where he was responsible for the growth strategy and business development at OVL with several high value acquisitions in last one year.

New Delhi, Aug 27 : Bipasha Basu recently promoted her upcoming movie ' Creature