Jet fuel price up

New Delhi, Nov. 30: State-owned oil companies today hiked jet fuel prices by a steep 3.7 per cent, the third increase in rates in a month. The price of the aviation turbine fuel (ATF), or jet fuel, in Delhi was raised Rs 2,312 per kilolitre (kl), or 3.7 per cent, to Rs 64,622 per kl with effect from midnight tonight, an official of Indian Oil Corp, the nation’s largest fuel retailer, said.

Fiscal deficit

New Delhi, Nov. 30: The government’s fiscal deficit has risen to Rs 3.07 lakh crore, or 74 per cent of the budget estimates, in the first seven months of 2011-12. According to the Controller General of Accounts data, the government’s fiscal deficit went up as non-tax revenue growth declined.

Divestment

New Delhi, Nov. 30: The finance ministry is likely to ask LIC to buy 5-10 per cent of the government’s stake in PSUs as part of the exercise to raise Rs 40,000 crore through divestment. “LIC would be asked to pick up only a small portion (5-10 per cent) in some PSUs,” finance ministry sources said.