Why are petrol and diesel prices increasing? Dharmendra Pradhan gave two big reasons

Why are petrol and diesel prices increasing? Dharmendra Pradhan gave two big reasons

Business Desk: Union Petroleum Minister Dharmendra Pradhan has attributed the rise in prices of petrol and diesel to the crude oil production cuts in the international market. Pradhan said that there are two main reasons for rising fuel prices. Crude oil production in the international market has been reduced. Producing countries are reducing oil production to increase their profits. Therefore, it is becoming expensive for crude oil buying countries.

Pradhan said, "We are urging petroleum exporting countries ie OPEC and OPEC Plus countries that this should not happen. We hope that this will change very soon. ' 

Dharmendra Pradhan said, 'Crying another cause is virus. We have to do many types of development work. For this, the central and state governments are collecting taxes. Spending on these development works will generate more employment. The government has increased its investment and 34% more capital will be spent in this budget. He further said, 'State government spending will also increase. That is why we need this tax. There is also a need for balance. I believe the finance minister can find a way out.


Today's Share Market: Sensex rises by 1148 points, Nifty also shows boom

Today's Share Market: Sensex rises by 1148 points, Nifty also shows boom

Mumbai: Continuation of boom in domestic stock markets. On Wednesday, the Sensex crossed the 51,000 mark with a jump of 1,148 points for the third consecutive trading session. At the same time, Nifty crossed the level of 15,200 points. The 30-share Sensex of the BSE closed with a gain of 1,147.76 points, or 2.28 per cent, at 51,444.65 points. This is the biggest single-day gain in the SENSEX since 2 February. During the day's trading, the Sensex had climbed to 1,243 points.

Nifty also recorded a sharp rise

The National Stock Exchange's Nifty gained 326.50 points, or 2.19 percent, to close at 15,245.60. Among the Sensex companies, Bajaj Finserv, Reliance Industries, Bajaj Finance, ICICI Bank, HDFC and Axis Bank (Bajaj Finserv, Reliance Industries, Bajaj Finance, ICICI Bank, HDFC, Axis Bank) registered strong gains. Among the 30 Sensex stocks, 27 saw an increase.

Asian markets also appear to be trading strongly

According to provisional data from the stock markets, foreign institutional investors bought shares worth a net Rs 2,223.16 crore on Tuesday. Other Asian markets were also seen trading strongly. Meanwhile, Brent crude oil futures rose 1.84 percent to $ 63.77 per barrel. In the interbank foreign exchange market, the rupee closed at 72.72 per dollar, a gain of 65 per cent.


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