The Supreme Court on 6 January 2014 ordered the Government of India to revive the decision to double the price of Krishna-Godavari (K-G) basin gas.
Member of Parliament Dasgupta filed a PIL challenging the hike that claimed that the hike will benefit Reliance Industries Ltd. He urged the court to order initiation of termination proceedings against the RIL over extraction of natural gas from the K-G basin based on Rangarajan committee formula.
Recently the Cabinet Committee on Economic Affairs (CCEA) approved the Reliance Industries (RIL) to sell KG-D6 block gas at higher price based on Rangarajan committee formula.
If you have any Question/Point on the above information, please ask/discuss it in the Current Affairs Group