In a bold move, the government hiked gas prices from $4.2/mmbtu to $8.4/mmbtu
(million metric british thermal unit), with effect from April 1, 2014. Investments in the
oil and gas sector will pick up.
Another positive development came in the form of the Prime Minister setting ambitious
target for investments in the infrastructure sector. In an attempt at addressing the
bottlenecks in this sector, Rs. 115,000cr. worth of projects on PPP mode were identified
on priority basis for investments ( out of which, at least, Rs.1 lakh cr. worth of projects
are expected to kick off in the coming six months).
Markets cheered the developments with a big push upwards. Going forward, the positive
sentiment may take Nifty to higher levels.
Crude Oil April and Brent Oil May series are up 0.2-0.3 percent each at $ 54 and $ 56.66 a barrel, respectively.
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