Kirit Parikh Committee

In News 

  • The Ministry of Petroleum and Natural Gas has set up a Committee under noted energy expert Kirit Parikh to review the current gas pricing formula.

Background 

  •  The Centre has begun a review of the pricing formula for domestically-produced gas amid rising concerns over skyrocketing global natural gas prices jacking up energy and industrial costs, and derailing the efforts to contain inflation.

About Kirit Parikh committee 

  • The committee has been asked to submit the report by the end of this month, its inputs won’t be used for the next six monthly revision of the domestic gas prices for the October 2022-March 2023 period.
  • The next price revision will likely lead to a further rise in prices of gas from both the normal and the “difficult” fields, given that the benchmark global prices have remained elevated.
  • Composition : The committee, headed by energy expert Kirit Parikh, will include members from the fertiliser ministry, gas producers and buyers.
  • Objective :The panel has been asked to recommend a fair price to end-consumers and also suggest a “market-oriented, transparent and reliable pricing regime for India’s long-term vision for ensuring a gas-based economy,
    • It is aimed at lowering inflation and boosting use of cleaner fuel.

Source:IE

 

Other News of the Day

In News  Pakistan’s Department of Archaeology warned that heavy rainfall in the Sindh province threatened the World Heritage status of Mohenjo Daro About Mohenjo-daro  Mohenjo-Daro or the “Mound of the dead” lies in Larkana district of Sindh (Pakistan), about 5 km away from the Indus. It is one of the largest of the Indus Valley...
Read More

In News Recently, a cluster of pneumonia cases in Tucumán, Argentina was caused by legionella which is the bacteria that causes Legionnaires' disease. About Legionellosis disease History Legionella was discovered after an outbreak in 1976 among people who went to a Philadelphia convention of the American Legion. What is Legionnaires’ disease? Legionnaires disease is a...
Read More

In News Recently, the Supreme Court expressed concerns over states continuing to register FIRs for offences under Section 66A of the Information Technology Act despite the court holding it unconstitutional in 2015. About Section 66A of IT Act Shreya Singhal v. Union of India:  In 2015, the apex court struck down the law in the...
Read More

In News The Prime Minister of India will soon launch the first global intercontinental carnivore translocation of African cheetahs from Namibia to Kuno-Palpur National Park in India. More about the news Eight animals sourced from Namibia and currently quarantined in South Africa for medical evaluation are expected to arrive in India. The translocation of cheetahs...
Read More

In News Recently, the experts have cited that the new fertiliser branding plan must be reviewed as marketing under the single brand name of “Bharat” is ill-advised. About One nation-One Fertiliser Policy The concept of One Nation-One Fertilizer (ONOF) will be implemented from October 2, 2022.  As part of the initiative, crop nutrients - urea, di-ammonium phosphate...
Read More

In News The month of September every year is celebrated as the Rashtriya Poshan Maah or the National Nutrition Month across the country. About Key themes of Poshan Maah 2022: The activities during the month will be centred on key themes like  Mahila and Swasthya,  Bachcha and Shiksha – Poshan Bhi Padhai Bhi,  gender-sensitive water...
Read More

In News Recently, NITI Aayog and the German Federal Ministry for Economic Cooperation and Development (BMZ) held the inaugural NITI-BMZ Dialogue of Development Cooperation through video conferencing. Major highlights of the Dialogue  Green and Sustainable Development (GSDP) India and Germany signed a Joint Declaration of Intent on Partnership for Green and Sustainable Development (GSDP). India...
Read More

In News Recently, a new I-STEM (Indian Science Technology and Engineering facilities Map) initiative called “Women in Engineering, Science, and Technology (WEST)” was launched. Key Points Empowering Women: The WEST programme will cater to women with a STEM background and empower them to contribute to the science, technology, and innovation ecosystem.  Separate platform to scientifically...
Read More

In News Recently, India and Bangladesh signed a water sharing agreement for the first time in 25 years. About River pact: India and Bangladesh signed an interim water sharing agreement for the Kushiyara river, the first such pact between them in over 25 years  The Ganga water treaty was signed in 1996. Significance: The Kushiyara...
Read More