High energy cost transfer 'inevitable' to users: Finance ministry The Union Finance Ministry has stated that it is "inevitable" for countries to pass on higher energy costs to households and industries, emphasizing that this process is already underway in some nations. In its monthly economic review, released on Wednesday, the ministry noted that while certain countries have begun allowing energy price increases to be passed on to end-users, others have not. However, it warned that this transfer is unavoidable, particularly during periods of supply disruption. The ministry highlighted that without a moderation in demand, countries risk paying significantly higher prices for energy supplies in the long term. The review also called for maintaining macroeconomic stability, cautioning that any attempts to artificially boost near-term growth could jeopardize medium- to long-term economic prospects. The ministry further suggested that the challenges posed by the energy crisis will persist for an extended period, as restoring energy supplies will take time. It criticized international agencies for assuming a rapid return to normal energy production and shipping, pointing out that such forecasts often overlook the time required to rebuild production capacity and resume global trade. The ministry warned that energy prices may remain elevated for an extended period. India's crude oil basket averaged $113 per barrel in March, with prices just under $115 per barrel in April. According to an ICRA report, marketing margins for petrol and diesel are currently estimated at negative Rs 14 per litre and Rs 18 per litre, respectively. The report also noted that domestic LPG under recoveries are projected to reach Rs 80,000 crore for the fiscal year 2027.#energy_security #strategic_reserves #union_finance_ministry #icra_report #fiscal_year_2027
Maharashtra Forms Task Force to Study Social Media Impact on Minors Nagpur: The Maharashtra government has established a 13-member expert task force to investigate the effects of social media on children under 18 years of age. The initiative aims to recommend state-level regulatory and policy measures to address concerns raised by the Union finance ministry’s survey and findings from the Indian Psychiatric Society (IPS) regarding the rise in mental health disorders among minors. The task force will analyze the impact of social media on mental and physical health, education, social skills, and the role of digital advertising targeting children. Maharashtra, home to approximately four crore children below 18, has prioritized this study following the central government’s economic survey, which highlighted the growing exposure of minors to social media and its potential health implications. The task force’s terms of reference include examining rural-urban disparities, gender and income group variations, and existing national and international regulatory frameworks. It will also propose legal, administrative, and technical measures to safeguard children’s well-being while ensuring their access to education, digital empowerment, and positive technology use. The panel is expected to submit its detailed report and recommendations within three months of its formation. The study will involve field visits at the grassroots level and desk research. Administrative support will be provided by the state’s information technology department. The task force will be chaired by the additional chief secretary or principal secretary of the school education and sports department, with the women and child development department secretary serving as co-chairperson.#maharashtra #indian_psychiatric_society #union_finance_ministry #mumbai_university #bombay_scottish_school
