Global crude oil price of Indian Basket increased marginally to US$ 107.59 per bbl on 29.05.2014

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas went up US$ 107.59 per barrel (bbl) on 29.05.2014. This was higher than the price of US$ 107.51 per bbl on previous publishing day of 28.05.2014.

In rupee terms, the price of Indian Basket decreased marginally to Rs 6330.60 per bbl on 29.05.2014 as compared to Rs 6351.69 per bbl on 28.05.2014.  Rupee closed stronger at Rs 58.84 per US$ on 29.05.2014 as against Rs 59.08 per US$ on 28.05.2014. 

The table below gives details in this regard:

Particulars	Unit	Price on May 29, 2014 (Previous trading day i.e. 28.05.2014)	Pricing Fortnight for 16.05.2014 (April 29 to May 13 , 2014)
Crude Oil (Indian Basket)	($/bbl)	107.59              (107.51)	105.80
	(Rs/bbl	6330.60             (6351.69)	6358.58
Exchange Rate	(Rs/$)	58.84               (59.08)	60.10

Shri Arun Jaitley Assumes Charge as Minister of Finance

The newly appointed Union Minister of Finance, Shri Arun Jaitely assumed charge of his office here today. 

After assuming the charge, the Finance Minister was briefed on the key initiatives and policy issues by the Secretaries of the different departments of the Ministry of Finance. 

The Finance Minister also held a meeting with the senior officials of the Ministry to have a first hand information regarding the ongoing issues and the forthcoming challenges facing the Indian economy among others. 

Later during his brief media interaction, the Finance Minister Shri Jaitely said that his priorities would be to tackle inflation, boost economic growth and follow the path of fiscal consolidation among others.