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<ul><li>Government-owned oil companies have increased <keyword id="51661" type="PERSON" weightage="20" keywordseo="cooking-gas">cooking gas</keyword> prices by ₹100 in December 2020. </li><li>This is the biggest monthly hike in cooking gas prices yet. </li><li>As a result of the latest price hike, a 14.2 kg <keyword id="644335" type="ORGANIZATION" weightage="20" keywordseo="LPG-Gas">LPG gas</keyword> cylinder in Delhi will now cost ₹694. </li><li>Amongst the major cities and state capitals, cooking gas prices are the highest in Patna at ₹792. </li><li>There is no official information on what happens to cooking gas subsidy benefits. </li><li><a href="https://www.businessinsider.in/india/news/indian-government-will-no-longer-pay-out-direct-benefit-transfer-for-cooking-gas-subsidy-eliminated-as-oil-prices-fall/articleshow/77872369.cms">Check out the latest news and updates on Business Insider.</a> </li></ul>Government-owned oil companies have increased cooking gas prices by ₹100 in December 2020. The cooking gas prices have been hiked by ₹50 two times in the last 15 days, which is the biggest price hike in a single month yet. As a result of the latest price hike, consumers in Delhi will now have to pay ₹694 per cylinder (14.2 kg). In Hyderabad, a 14.2 kg gas cylinder now costs ₹746.5. New LPG gas cylinder prices in major cities of India <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">City </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">December 2020 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">November 2020 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">New Delhi </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹694 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹594 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹694 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹594 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹720.50 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹620.50 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹710 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹610 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Bengaluru </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹697 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹597 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Hyderabad </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹746.50 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹646.50 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Gurgaon </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹703 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹603 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Patna </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹792 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹692 </td></tr></tbody></table> Note: Prices as on December 17, 2020 In the first week of December or late November, cooking gas prices in Delhi and Hyderabad were ₹594 and ₹646.5, respectively. Cooking gas prices remain the highest in Patna, at ₹792. It is worth noting that these price hikes apply to both subsidized as well as non-subsidized gas cylinders. If you are eligible for the subsidy, you will have to pay the increased prices on booking a cylinder now. We have verified the same on the Indian Oil website. What will happen to my LPG gas subsidy? Consumers who are eligible and have opted for gas subsidy might see a proportionate increase in their subsidies. However, exact details and an official confirmation in this regard is not available yet. Under the subsidy scheme, households in India can buy a maximum of 12 LPG cylinders per year. These consumers have to buy gas cylinders at the full price first, and the subsidy amount is then credited to the consumer’s bank account by the government. In September this year, the <a href="https://www.businessinsider.in/india/news/indian-government-will-no-longer-pay-out-direct-benefit-transfer-for-cooking-gas-subsidy-eliminated-as-oil-prices-fall/articleshow/77872369.cms">government eliminated cooking gas subsidies </a>as a fall in oil prices and increase in cooking gas prices brought parity in the market and subsidized prices. With the market prices increasing again, it remains to be seen if the government increases subsidy benefits as well. Crude oil prices have increased steeply since October Since October, crude oil prices have seen a steep increase, forcing the oil companies to hike prices of petrol and diesel, according to an ET <a href="https://economictimes.indiatimes.com/industry/energy/oil-gas/oil-companies-hike-cooking-gas-price-by-rs-50-per-cylinder-for-the-second-time-in-a-fortnight/articleshow/79760972.cms">report</a>. In the last one month, petrol prices have been hiked 14 times, increasing by 2.8%. The last time petrol prices were this high was in 2018 when prices hit ₹91.39 per liter in Mumbai and ₹84.06 in Delhi. Current petrol prices in Mumbai and Delhi are ₹90.34 and ₹83.71, respectively. SEE ALSO: <a href="https://www.businessinsider.in/india/news/indian-government-will-no-longer-pay-out-direct-benefit-transfer-for-cooking-gas-subsidy-eliminated-as-oil-prices-fall/articleshow/77872369.cms">Indian government will no longer pay out direct benefit transfer for cooking gas — subsidy eliminated as oil prices fall</a> <a href="https://www.businessinsider.in/business/corporates/news/bpcl-cooking-gas-customers-will-continue-getting-subsidy-post-privatisation-but-government-will-reimburse-the-cost/articleshow/77929623.cms">BPCL cooking gas customers will continue getting subsidy post privatisation but government will not reimburse the cost</a> <a href="https://www.businessinsider.in/india/news/petrol-is-less-than-a-rupee-away-from-being-more-expensive-than-it-has-ever-been-for-indian-consumers/articleshow/79601841.cms">Petrol is less than a rupee away from being more expensive than it has ever been for Indian consumers</a>

Cooking gas prices hiked by ₹100 this month – check what happens to subsidies

<ul><li>Oil marketing companies <keyword id="44555" type="General" weightage="20" keywordseo="bpcl" source="Orion">BPCL</keyword>, <keyword id="6362419" type="General" weightage="20" keywordseo="hpcl" source="Orion">HPCL</keyword>, <keyword id="6354733" type="General" weightage="20" keywordseo="ioc" source="Orion">IOC</keyword> have raised <keyword id="659816" type="General" weightage="20" keywordseo="cooking-gas-prices" source="Orion">cooking gas prices</keyword> by ₹15 a cylinder.</li><li>This comes after the government hiked the prices of natural gas by 62%, the first time in two years.</li><li>Experts in the field believe the situation could get worse to an extent that <keyword id="505706" type="General" weightage="20" keywordseo="lpg-prices" source="Orion">LPG prices</keyword> could hike by ₹100.</li></ul>Oil marketing companies BPCL, HPCL, IOC have raised cooking gas prices by ₹15 a cylinder. The new price for each cylinder of liquefied petroleum gas (LPG) will be ₹899.50 for the 14.2 kilogram (kg) cylinder. The new rate for a 5 kg domestic cylinder stands at ₹502. In September, oil marketing companies had raised the prices of non-subsidized LPG cylinders by ₹25. This week cooking gas prices i.e piped natural gas (PNG) have risen by ₹2 to ₹32.67 per standard cubic meter of gas. This comes after the government hiked the prices of natural gas by 62%, the first time in two years. "Higher gas prices might slightly hurt the competitiveness of compressed natural gas (CNG) business as city gas distribution companies (Gujarat Gas, Indraprastha Gas) might have to hike CNG price by 10-12% to completely pass on the higher cost of domestic gas,” said analysts at JM Financial. It could get worse because some unnamed sources from the oil market companies like Indian Oil, BPCL and HPCL told <a href="https://www.business-standard.com/article/economy-policy/major-omcs-step-off-lpg-price-hike-pedal-absorb-rs-100-per-cylinder-121100600099_1.html">Business Standard </a>that the headroom for the hike is as much as ₹100 for a 14.2 kg cylinder. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/up-government-to-give-free-tablets-smartphones-to-students-pursuing-higher-education/articleshow/86801328.cms">UP government to give free tablets, smartphones to students pursuing higher education</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/supreme-court-extends-stay-on-criminal-proceedings-against-azim-premji-others/articleshow/86801060.cms">Supreme Court extends stay on criminal proceedings against Azim Premji, others</a>

Cooking gas prices have been hiked to ₹899.50 per cylinder and it could get worse

You can’t apply for subsidized LPG if you are earning Rs. 10 lakh or more a year, the <a href="http://www.businessinsider.in/searchresult.cms?query=oil+ministry">oil ministry</a> said on Monday. 
 
The new scheme will begin since Jan 1st 2016, and will apply to people even if they have issued cooking gas in the name of the spouse. Currently there are 16.35 crore cooking gas connections in the country. 
 
The government had earlier successfully implemented the PAHAL scheme, which transferred cooking gas subsidy directly to bank accounts of over 14 crore customers. 
 
"The subsidy saved from the 'GiveitUp' campaign is being utilised for providing new connections to the BPL families under the 'Giveback' campaign to help provide the clean fuel to poor households and replace kerosene, coal, fuel wood and cow dung burnt in kitchens," the ministry said in a statement. 
 
It also said that consumers in the higher income bracket should buy <a href="http://www.businessinsider.in/searchresult.cms?query=LPG+cylinders">LPG cylinders</a> at the market price. 
 
"Therefore, the government has decided that the benefit of the <a href="http://www.businessinsider.in/searchresult.cms?query=LPG+subsidy">LPG subsidy</a> will not be available for LPG consumers if the consumer or his/her spouse had taxable income of more than Rs 10,00,000/- during the previous financial year computed as per the <a href="http://www.businessinsider.in/searchresult.cms?query=Income+Tax+Act">Income Tax Act</a>, 1961," the ministry said. 
 
Image credit: Indiatimes

No LPG subsidy if you earn more than Rs 10
lakhs p.a.

With heavy, torrential rains currently lashing south India, particularly Bangalore and Chennai, life in these metros has reached a complete standstill. While there is little you can do to control nature's ongoing fury, you can safeguard your precious two- and four-wheelers, which have little respite or protection from the ongoing vagaries of rains and floods. During heavy rains, the first in line of damage is your vehicle's engine, which could cost you a bomb! If the water enters the engine's cylinder, it can cause it to seize and leave it beyond repair. Another common damage your vehicles can face during such times is <keyword id="23605837" type="General" weightage="20" keywordseo="electrical-failure" source="keywords">electrical failure</keyword> since water seepage can cause shorting of the electrical components, including the battery, alternator, and wiring systems. Then there's moisture seepage, which can affect your vehicle's braking and fuel systems. <h2><keyword id="20224622" type="General" weightage="20" keywordseo="motor-insurance" source="keywords">Motor Insurance</keyword> to the Rescue</h2> While a comprehensive motor insurance policy might protect you against accidents, thefts, and other third-party liabilities, they might fall short when it comes to safeguarding your vehicles from damages caused by natural calamities like heavy rain. As such, you can opt for a few add-ons over and above your regular motor policy to ensure you don't end up spending a hefty amount from your pockets if your vehicles need repair. "In Chennai and Bangalore, the recent heavy rains have led to several challenges, causing multiple vehicles and home damage. Urban flooding is a phenomenon now being witnessed in most metropolitan cities. Cases of vehicles being swept away in floods have also been seen, leading to total loss" Vivek Chaturvedi, CMO and Head of Direct Sales, Go Digit General Insurance "While comprehensive motor insurance policies protect your vehicle against damage from natural disasters such as floods, cyclones, and heavy rains, you should consider add-on covers like engine protection, zero depreciation, <keyword id="22024865" type="General" weightage="20" keywordseo="roadside-assistance" source="keywords">roadside assistance</keyword>, return to invoice, and consumables. These options help cover the costs of repairing or replacing vehicle parts and any injuries or damage from accidents," he continues. Here's a ready reckoner of all add-ons you can consider: 1. <keyword id="23605835" type="General" weightage="20" keywordseo="engine-protection-cover" source="keywords">Engine Protection Cover</keyword>: This cover protects your wallet from costly repairs in case your vehicle's engine is severely damaged. 2. Zero Depreciation Cover/Bumper-to-Bumper Cover: While servicing your claims, insurers generally deduct depreciation or regular wear and tear on your vehicle. This add-on guarantees you a claim without any deduction for wears and tears. 3. Roadside Assistance Cover: You never know when your vehicle might be stalled. This cover offers repair at the site, towing, and alternative travel if one’s car is stuck on waterlogged roads. It can also include services like fuel delivery, battery replacement, or flat tire repair. 4. Tire Protection Cover: It offers repair or replacement of tires damaged due to cuts, bursts, or bulges during wet, hazardous conditions. Says Kalpesh Chavan, Senior Vice President &amp; Product Head of Elephant (Corporate Insurance Wing of Alliance Insurance Brokers), "EV owners should additionally also opt for battery protection cover and electric surge secure add-on. This add-on protects the electronic pieces and circuits of electric vehicles from any short circuits, electrical arcing, or leakage, especially through water entry." <h2>Don't crank up the engine. </h2>Got a vehicle that's flooded with water? Don't try to start it forcefully. If you do so, the insurance company can decline your claim for all the damage caused by attempting to start such a flooded engine. Your best bet in such cases is to wait till the water subsides and then try revving up the engine. Chavan adds that most car owners need to take into account how disaster-prone their area is and end up estimating the wrong coverage amount for their cars. Inadequate study of the terms and conditions of the policy may lead to claim rejections when most needed. But most importantly, if your vehicle's insurance is up for renewal, do not delay or procrastinate to do the same. Or else your car could become uninsured during the most critical periods. Maintaining up-to-date records and documentation is of the essence; missing documents may trigger unwarranted delays in the processing of claims.

Facing vehicle damage during heavy rains? Here's how motor insurance can come to your rescue

New Delhi, Mar 18 () The price of subsidised cooking gas (LPG) has been hiked by Rs 35.55 per cylinder in the last five months, Oil Minister Dharmendra Pradhan said on Wednesday.As per government policy, LPG all over the country is available only at market price. However, households are entitled to buying 12 cylinders of 14.2-kg each at a subsidised rate in a year. The government transfers the subsidy amount directly into the bank accounts which the beneficiaries use to buy LPG at the market price.The subsidised LPG price has gone up by Rs 35.55 per cylinder since October.In a written reply to a question in the Rajya Sabha, Pradhan said domestic subsidised LPG in Delhi was priced at Rs 538.95 per cylinder on October 1, 2019, and this month it costs Rs 574.50.He did not give any reason for the price increase.While non-subsidised or market priced LPG has varied from month to month based on benchmark international rates, subsidised LPG prices have been raised every month by Rs 4 per cylinder plus taxes.These rates, however, are no longer published by the oil market companies.To the question of whether state-owned oil marketing companies had stopped publishing subsidised gas prices, he said the price of non-subsidised domestic LPG is available at the websites of oil companies. In reply to another question, Pradhan said non-subsidised LPG cylinder costs Rs 805.50.Household consumers are getting a subsidy of Rs 231 per 14.2-kg cylinder, he said.So, a household buys LPG at Rs 805.50 per cylinder. After accounting for Rs 231 that he or she gets as government subsidy, the payout is Rs 574.50."The prices of petroleum products in the country are linked to the price of the respective products in the international market. However, the Government continues to modulate the effective price to consumers for subsidized domestic LPG and the consumers get the product at the subsidised rate. "The subsidy on subsidized domestic LPG increase/ decrease with the increase/ decrease in the product price in the international market and decision of Government on subsidy," he said.Pradhan had on July 31, 2017, stated in a written reply to a question in the Lok Sabha that the government had ordered state-run oil companies to raise subsidised cooking gas (LPG) prices by Rs 4 per cylinder every month to eliminate all the subsidies."Public sector oil marketing companies (OMCs) were authorised to increase the price of subsidised domestic LPG cylinder by Rs 2 per cylinder (14.2-kg) per month (excluding VAT) with effect from July 1, 2016," he had said.Oil companies had hiked LPG rates on 10 occasions since that go-ahead."The government vide its order dated May 30, 2017, has again authorised OMCs to continue to increase the effective price of subsidised domestic LPG by Rs 4 per cylinder effective June 1, 2017, per month (excluding VAT) till the reduction of government subsidy to 'nil'," he had stated.There are over 26 crore customers of subsidised LPG in the country. These include 8 crore poor women who were given free connections under the Pradhan Mantri Ujjwala Yojna. ANZ MRMR

Subsidised LPG price hiked by Rs 35.55 in 5 months: Pradhan

New Delhi, Feb 13 () The oil ministry on Thursday justified the steep Rs 144.50 per cylinder hike in cooking gas LPG prices, saying the rates are based on the international market price that had increased over 26 per cent last month. It also said domestic consumers have been largely insulated from the hike by way of the large increase in subsidy. "The LPG price is derived based on the international market price for the previous month," the ministry said in a statement. "On account of a sharp increase in the international price of LPG during January 2020 from USD 448 per ton to USD 567 a tonne, there has been a hike of Rs 144.50 for a 14.2 kg cylinder," it added. The ministry said the increase in price for 26.12 crore out of total LPG user base of 27.76 crore is borne by the government by enhancing the subsidy component. The government gives a subsidy to LPG users under two different heads -- direct benefit transfer or PAHAL for domestic users and Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries. "While the price of domestic non-subsidised LPG cylinder has increased from Rs 714 per cylinder to Rs 858.50 per cylinder, the subsidy amount to subsidised consumers in Delhi has increased from Rs 153.86 per cylinder to Rs 291.48 per cylinder. "In view of the subsidised price determined by the government, the subsidised LPG consumers are insulated from the volatility of LPG prices in the international market," the statement said. For the PMUY consumers, the subsidy borne by the government has increased from Rs 174.86 per cylinder to Rs 312.48 per cylinder. "Therefore, the impact of the price hike is mostly borne by the government by enhancing the subsidy for subsidized and PMUY consumers," it said. The price hike announced by oil companies on Wednesday was the steepest in six years. In January 2014, prices had gone up by Rs 220 per cylinder to Rs 1,241. Domestic LPG users are entitled to buy 12 bottles of 14.2-kg each at subsidised rates in a year. Beyond this limit, consumers have to purchase at market price. After accounting for the subsidy that is transferred directly into the bank accounts of LPG users, a 14.2-kg cylinder would cost Rs 567.02 for domestic users and Rs 546.02 for PMUY users. The government gave out eight crore free LPG connections to poor women under PMUY to increase coverage of environment-friendly fuel in kitchens. Normally, LPG rates are revised on the 1st of every month but this time it took almost two weeks for the revision to take place. The ministry's statement did not say why the revision was pushed by 12 days. ANZ RAM

Oil Min justifies LPG price hike to spike in global rates

<ul><li>US President Donald Trump is going up against the World Trade Organisation (WTO) after miscalculating anti-subsidy tariffs against China. </li><li>Despite the global trade watchdog’s ruling back in 2012, the US has failed to remove excess tariffs against Chinese subsided goods like solar panels, wind towers, and steel cylinders etc. </li><li>WTO has warned that if the US continues to undermine the global organisation, it could face Chinese sanctions. </li></ul>Trade tensions between China and the US are all set to worsen a the World Trade Organisation (<a href="https://www.wto.org/english/news_e/news19_e/437abrw_e.htm">WTO</a>) opens the doors for <keyword id="7877831" type="UNKNOWN" weightage="20" keywordseo="chinese-sanctions-on-us">Chinese sanctions on US</keyword> goods. The global trade watchdog is calling on the US to fix a mistake that was pointed out back in 2012. The US miscalculated the anti-subsidy tariffs levied against Chinese exports valued at $7.3 billion at the time. The trade organisation also pointed that the US had to accept Chinese to measure subsidies even if the US Trade Representative (USTR) saw them as ‘distorted’. So far, the US has not complied with the ruling and if it doesn’t fix the mistake even now, China is within its rights to impose its own sanctions on American goods, according to the WTO. It’s a stand-off between the <a href="https://ustr.gov/about-us/policy-offices/press-office/press-releases/2019/july/statement-wto-appellate-report-china">USTR</a> and the <a href="http://english.mofcom.gov.cn/article/newsrelease/policyreleasing/">Chinese Commerce Ministry</a> with the WTO trying to relieve some of the trade pressure that’s spilling over onto the global economy. <div type="ExtQuote" text="This conclusion ignores the findings of the World Bank, OECD working papers, economic surveys, and other objective evidence, all cited by the United States." auname="Statement by USTR"></div>

 Point of impact The global trade watchdog already expressed its displeasure on the US-China trade war causing a ‘dramatic spike’ in trade barriers and now its calling on the US to fix its mistake. Neither, China or the US, seem to be in the mood to back down. Zhang Lifan, Zhang Lifan, a Beijing-based commentator, <a href="https://www.scmp.com/news/china/diplomacy/article/3018734/chinas-commerce-minister-says-us-responsible-trade-war-and">stated</a>, “China is in no hurry to reach a deal and ready for protracted talks.” Scott Kennedy, an economist with Washington-based think tank the Centre for Strategic and International Studies, told <a href="https://www.scmp.com/news/china/diplomacy/article/3018734/chinas-commerce-minister-says-us-responsible-trade-war-and">SCMP</a> that Zhong Shan’s — China’s commerce minister — greater prominence meant China had lost interest in addressing US concerns in the talks. The Asian nation is already looking to sanction American companies for selling arms to Taiwan and Donald Trump, the US President, stated that since China wasn’t buying enough agricultural produce from the US — like it apparently promised — he might impose tariffs on Chinese goods worth $325 billion.

US and China trade war may escalate after the latest WTO ruling

<ul><li>Millions of Indians are waiting with bated breath to hear from the country's Prime Minister on how he plans to tackle the coronavirus challenge. </li><li>WhatsApp groups are rife with rumours of a possible shutdown that may extend into months but there is no official word on it yet.</li><li>In case the government orders a lockdown, complete or even a partial one, a big majority of India's population that lives hand-to-mouth may be plunged into starvation and helplessness.</li><li>However, the government has the 'direct benefit transfer' mechanism to give the millions of country's poor survival money until the Covid-19 pandemic is dealt with on war footing. </li><li>This could be similar to, albeit costly, what the Trump administration has proposed ⁠— giving out cash to the needy ⁠— as the US economy has come to a grinding halt.</li></ul>Indian Prime Minister Narendra Modi is planning his first big address to the nation as the Asia's third-largest economy <a href="https://www.businessinsider.in/india/news/india-records-highest-1-day-spurt-in-coronavirus-cases-184-infected-15-cured-and-3-dead/articleshow/74703827.cms" data-type="tilCustomLink" target="_blank">recorded the sharpest single-day rise</a> in Covid-19 Coronavirus infections. The total number of people infected are 184⁠— 15 have been cured and three have died⁠— and WhatsApp groups are rife with rumours of a possible lockdown. Here's a <a href="https://www.businessinsider.in/india/news/coronvirus-in-india-map-and-data/articleshow/74666694.cms" data-type="tilCustomLink" target="_blank">visual guide to coronavirus pandemic</a> has been progressing in India. Soft loans and tax breaks are good but not enough to tide over the current situation that is both a health hazard and an economic crisis of epic proportions. Majority of India’s population still lives hand-to-mouth and it needs cash to survive and a total lockdown, or a partial one, may leave them starving and helpless. The experience in India is likely to be very different from other countries like Italy, France, and China that have taken similar stringent steps. 
	
	
 
 
 
 
 
 
 
 
 
 
 
 <div type="image" title="Day six of Italy&amp;#39;s nationwide coronavirus lockdown, in Turin" msid="74709694" hostid="261" caption="&amp;lt;p&amp;gt;A woman wearing a protective face mask walks her dog, on the sixth day of an unprecedented lockdown across of all Italy imposed to slow the outbreak of coronavirus, in Turin, Italy, March 15, 2020. REUTERS/Massimo Pinca&amp;lt;/p&amp;gt;"></div>



























 Salaries will still reach the bank account of corporate employees who work from home but construction workers, domestic helps, sanitation workers in private establishments, daily wage labourers in small shops and factories, film production crews across countries, and many more like them who account for nearly 90% of India’s population cannot expect the same. The good thing is, India already has mechanisms like the ‘Direct Benefit Transfer’ (DBT), whereby the government can deposit cash directly into the bank accounts, to avoid an added layer of starvation to the unfolding health emergency. In 2018-19, over 1.23 billion Indians, of the estimated population of over 1.3 billion, received at least one government subsidy deposited directly into their bank accounts. 
	
 
 
 
 
 
 
 
 
 
 
 
 <div type="image" title="Direct benefit transfer" msid="74708184" hostid="261" caption="&amp;lt;p&amp;gt;In 2018-19, over 1.23 billion Indians, of the estimated population of over 1.3 billion, received at least one government subsidy directly into their bank accounts. This can be used to give the poor cash in hand in case there is a lockdown.&amp;lt;/p&amp;gt;"></div>


























 This may be the time to use the scheme to allay fear and famine. People are not going to buy fertilisers or cooking gas cylinders, but the window can be used to provide cash to those who need it the most. This move may be similar to US President Donald Trump's administration's proposal to send out cheques to millions of Americans who live from one payday to another, and find themselves stranded by the unprecedented economic impact of coronavirus pandemic. A back of the envelope calculation shows that if these 1.23 billion people in India, who are already in the DBT database, were to be considered for a handout from the government, the cost will be enormous but necessary to survive a possible lockdown. That will still leave a lot of people out from the 1.3 billion-plus population but this can be the starting point of a conversation around how the stimulus can be designed. The number of beneficiaries may be much smaller if the government goes for targeted shutdowns in smaller regions affected by coronavirus. <table style="width: 385pt;"> </colgroup> <tbody><tr> <td colspan="3" class="xl68" style="border-right:1.0pt solid black; height:40.5pt;width:385pt">The average household expenditure in India was ₹1,501 per month, according to National Sample Survey</td> </tr> <tr> <td class="xl71" style="height: 30pt; border-top-width: initial; border-top-style: none;">Period</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 186pt;">Cost to the government if it were to handout survival money</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">India's fiscal deficit</td> </tr> <tr> <td class="xl73" style="height: 15pt; border-top-width: initial; border-top-style: none;">1 month</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹36,924 crore</td> <td class="xl77" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹7.03 lakh crore</td> </tr> <tr> <td class="xl73" style="height: 15pt; border-top-width: initial; border-top-style: none;">2 months</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹73,848 crore</td> <td class="xl77" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl73" style="height: 15pt; border-top-width: initial; border-top-style: none;">3 months</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 186pt;">₹1.1 lakh crore</td> <td class="xl77" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td colspan="3" class="xl74" style="border-right:1.0pt solid black; height:27.75pt;width:385pt">*The beneficiaries are estimated at 1.23 billion (assuming 5 people per household) who availed at least one direct subsidy transfer at the end of March 2019</td> </tr></tbody></table> It is also likely that there may be one than beneficiary from one family recorded in the 1.23 billion. For instance, one member of a family may have received money for rural employment guarantee while another member may have availed the cooking gas subsidy. If these overlaps were to be weeded out, the burden on the government will be much lesser. A total lockdown will hurt these people the most “Small businesses and low-income households do not have the cash flows, balance sheets or savings to sustain the downturn in business or loss of income for a few months. As such, governments should look at a large fiscal stimulus,” a Kotak Institutional Equities report said. 
	
 
 
 
 
 
 
 
 
 
 
 
 <div type="image" title="sectors" msid="74709055" hostid="261" caption="&amp;lt;p&amp;gt;Soft loans and tax breaks are good but not enough. Majority of India&amp;#8217;s population still lives hand-to-mouth and it needs cash to survive and a total lockdown may leave them starving and helpless. &amp;lt;/p&amp;gt;"></div>


























 According to the Kotak report, the biggest impact will be three segments of the population: 1. Small businesses in retailing, tourism and transportation, 2. Self-employed workers in the ‘gig’ economy, and 3. Contract workers in the informal economy. So while a stimulus is necessary, it's design will determine the effectiveness. There may be a need to stop the spread of the virus even at the cost of shutting down the economy and the society temporarily. However, nearly 9 out of 10 people are employed in an unorganised industry with low wages and savings and no social security. A shock-and-awe treatment like an unexpected lockdown may be counter productive without a solution for those who do not have liquidity to survive. 
	
 
 
 
 
 
 
 
 
 
 
 
 <div type="image" title="pvt jobs" msid="74709287" hostid="261" caption="&amp;lt;p&amp;gt;A shock-and-awe treatment like an unexpected lockdown may be counter productive without a solution for those who do not have liquidity to survive.&amp;lt;/p&amp;gt;"></div>


























 <a href="https://www.bloombergquint.com/business/india-mulls-easier-loan-tax-rules-to-help-economy-endure-virus?utm_campaign=website&amp;utm_source=sendgrid&amp;utm_medium=newsletter" data-type="tilCustomLink" target="_blank">Reports suggest that PM Modi is likely to announce measures</a> to extend loan tenors and relaxing bad debt norms for small businesses, and remove goods and services tax on hotels and other players in the tourism sector. While these are necessary steps, more may have to be done to ensure the loneliness of a lockdown doesn’t drive people crazy. In case there is total shutdown, cash-in-hand will be a bigger problem for people than taxation as millions of Indians still depend on daily wages for livelihood. What India can learn from the world Donald Trump's administration has already gone to the House of Representatives with a plan to give a $1,000 or more cheque to middle-class and poor American families as part of a $850 billion economic stimulus. This is many times the size of the money pumped into the US economy right after the global financial crisis of 2008. 
	
 
 
 
 
 
 
 
 
 
 
 
 <div type="image" title="Donald Trump, NAT Trump" msid="74709407" hostid="261" caption="&amp;lt;p&amp;gt;President Donald Trump speaks during briefing on coronavirus in the Brady press briefing room at the White House, Saturday, March 14, 2020, in Washington. Photo/Alex Brandon)&amp;lt;/p&amp;gt;"></div>



























 India already deposits money directly into bank accounts India already has a direct benefit transfer mechanism for rural India as well as millions of India’s middle class and poor families in the cities who get their subsidies ⁠— fertiliser subsidy and cooking gas subsidy are examples ⁠— and money can be transferred to those dependent on daily wages for survival if there were to be a lockdown. This will come at a huge cost to the exchequer but the financial burden cannot be deterrent at this point. Giving money is not enough While addressing the nation, the Prime Minister, who is famous for his oration, must ensure that the narrative is one of hope and not despair. No amount of emergency cash can stop the panic that a foreboding tone can cause. There are varying views on the effectiveness of Indian government’s response to coronavirus. India has been, without doubt, relatively quick to shut down borders and enable screening of possible carriers travelling from other countries. There may be some valid criticism of the depth of testing of the local populace⁠— the fear is that not enough people have been tested to assess the real spread within India⁠. But that complaint will fall at the doorstep of nearly every government on the planet right now. People at large are still not prepared for a lockdown The coronavirus pandemic has proven to be an unprecedented health crisis that has brought the global economy to a grinding halt and the repercussions may be felt for a long time. People are shocked enough and there is enough anecdotal evidence that the population has not figured out what level of preparedness is ideal. 
	
 
 
 
 
 
 
 
 
 
 
 
 <div type="image" title="coronavirus impact in Delhi" msid="74709852" hostid="261" caption="&amp;lt;p&amp;gt;People in the congested areas near Delhi&amp;#39;s Jama Masjid. The eateries in this areas are famous for their meat-based delicacies. The number of patrons have reduced still a large of number of people could be seen venturing out amidst an escalating fear of coronavirus infections. &amp;lt;/p&amp;gt;"></div>

























 Even Mumbai, the country’s financial capital, continued to see people in close proximity without protection in public places until the day before ⁠— people could be seen in swarms at roadside eateries in many parts ⁠— despite consistent messaging both from authorities as well as the media. Prime Minister Modi should focus on motivating people to keep themselves safe and assure that families will not be plunged into starvation while the government expedites steps to test, isolate, and hopefully, cure coronavirus patients in India sooner than later. For millions of people to cooperate with a lockdown in a relatively young and less-mature democracy like India, people need to know the government has a plan to deal with the emergency now, as well as a vision to revive the economy and protect their livelihoods when the coronavirus storm subsides; and that too, will entail a huge cost. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rupee-records-a-new-low-trading-at-75-against-dollar-for-the-first-time/articleshow/74707789.cms" data-type="tilCustomLink" target="_blank">Rupee records a new low, trading at ₹75 against dollar for the first time</a> <a href="https://www.businessinsider.in/india/news/an-indians-shopping-guide-during-the-coronavirus/articleshow/74703488.cms" data-type="tilCustomLink" target="_blank">An Indian’s shopping guide during the coronavirus pandemic</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-delivery-workers-to-get-leave-with-full-pay-if-quarantined/articleshow/74709093.cms" data-type="tilCustomLink" target="_blank">Flipkart delivery workers to get leave with full pay if quarantined</a>

The rough cost of handing out cash to millions of Indians to survive the lockdown

<ul class="summary-list"><li>"Totally Under Control" is the new film codirected by the Oscar-winning documentarian Alex Gibney that depicts the Trump administration's hapless early response to the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword>.</li><li>From Trump's lies about <keyword id="8763838" type="UNKNOWN" weightage="60" keywordseo="covid-19">COVID-19</keyword>'s lethality, to Jared Kushner's ridiculous plan to have young volunteers armed with private laptops and Gmail accounts be in charge of securing the nation's supply of personal protective equipment, Gibney's film depicts each misstep that made the US crisis so distinctly horrible.</li><li>"The result looks more like a true-crime film than purely a film about competence, because the death toll was so high and the crimes of fraud and negligence are so extreme," Gibney told Business Insider's <a href="https://www.businessinsider.com/author/anthony-l-fisher">Anthony L. Fisher</a>.</li><li>This is an <keyword id="6356002" type="UNKNOWN" weightage="100" keywordseo="opinion">opinion</keyword> column. The thoughts expressed are those of the author.</li></ul><a href="http://www.jigsawprods.com/alex-gibney/">Alex Gibney</a>, the Oscar, Emmy, Peabody, and Grammy award-winning documentarian, has directed dozens of acclaimed films.Among the many disparate topics he has tackled on-screen include torture and the "war on terror" ("Taxi to the Dark Side"), the cruel scapegoating of the Chicago Cubs fan Steve Bartman ("Catching Hell"), Scientology ("Going Clear"), corporate corruption ("Enron: The Smartest Guys in the Room"), and last year's hugely popular HBO film about the disgraced Theranos founder, Elizabeth Holmes ("The Inventor: Out for Blood in Silicon Valley").Gibney's latest film, "Totally Under Control" (codirected with Suzanne Hillinger and Ophelia Harutyunyan), documents the slow-moving disaster of the Trump administration's early response to the coronavirus pandemic.From the early warnings that Trump dismissed, to the shockingly ineffective leadership at Centers for Disease Control and Prevention, to Jared Kushner's tragiccomic group of 20-somethings emailing business connections to secure personal protective equipment, "Totally Under Control" uses archival footage as well as new interviews with whistleblowers, medical experts, and doctors on the front lines of the pandemic to contextualize a great many of the reasons the US has had the worst COVID-19 response of any developed nation."<a href="https://www.youtube.com/watch?v=Ut4QjbruS50">Totally Under Control</a>" is available on video-on-demand this week, and it premieres on Hulu on October 20. The Business Insider columnist <a href="https://www.businessinsider.com/author/anthony-l-fisher">Anthony L. Fisher</a> spoke with Gibney via Zoom this week.This interview has been edited for space, style, and clarity.This is the first widely released documentary that's been shot entirely during the <keyword id="8764262" type="UNKNOWN" weightage="60" keywordseo="covid">COVID</keyword> era. What was the process like?It was tough to figure out how to shoot during COVID, both in how to get images that look good and represented the moment and also how to do so in a way that was safe, both for the camera folks but also more importantly for the subjects.The film had two approaches. One was the COVID cam — which was kind of invented by [cinematographer] <a href="https://www.imdb.com/name/nm1304251/">Ben Bloodwell</a>. It's sort of a tray with a handle, it's got a laptop, it's got a DSLR [camera] and a microphone. And we would send it to wherever the interview subject was and an assistant cameraperson would pick it up, put it on that person's porch, connect the internet, and then leave. They'd wait in a nearby car in case there was a problem.Then the person would go outside and pick up the COVID cam. It was already on, so Ben could see the person, talk to them, and actually remotely operate the camera and get a nice-looking image.The other option we had was the Airbnb option. Ben or another cinematographer would go to an Airbnb, kind of scrub it down, and then by themselves set up the lights, set up the sound, set up the chair, and put this big screen in front with shower curtains and everything — a virus barrier. The lens poked out, and on top of the lens was a kind of a teleprompter, and an image of whoever was conducting the interview would be projected. So the interview subjects would look directly into the barrel of the lens, and that had a kind of Zoom aesthetic, but nevertheless was better-lit and had a more cinematic quality.<div type="image" title="trump fl rally" height="804" width="1609" msid="78662071" hostid="261"></div><h2>Unspooling the disaster of Trump's early COVID response</h2>One moment in "Totally Under Control" that leaped out at me was Trump saying on February 28, "<a href="https://www.nbcnews.com/politics/2020-election/democratic-candidates-hit-trump-s-coronavirus-hoax-claim-n1145911">we have lost nobody to coronavirus</a>." It was at a huge rally and drew big cheers. It's chilling, given what we now know was happening at the time he said that. And it's amazing to realize that's not even eight months ago.And the very next day, <a href="https://www.cdc.gov/media/releases/2020/s0229-COVID-19-first-death.html">we did lose somebody</a>.You've gone through all this archival footage and you've contextualized the tick-tock of what the administration knew and when. How does it hit you now, emotionally, after everything that's happened since?We intentionally focused on the early days because that was when a different kind of plan really could have made a difference. What's chilling to me now about those remarks, particularly in light of the interview <a href="https://www.businessinsider.com/listen-trump-tells-woodward-february-covid-19-deadlier-than-flu-2020-9">Trump gave to Bob Woodward on February 7</a>, is that Trump knew very well that he was lying to us all. And worse than lying to us, he knew those very lies were permitting the virus to spread uncontrollably.How deeply cynical and cruel is to intentionally slow-walk testing, and also lie about the threat of a disease that you know is mortally dangerous, which will permit the disease to spread more rapidly and put more people in danger. That's really the dark part of this story.And not too long after that, on March 6, Trump explicitly says on camera that he doesn't want the stranded cruise passengers on the Diamond Princess to be tested because that will make the number of US positive tests go up. We all watched this happen in real time, but Trump's cynicism is astounding.We use another quote later on in the film where Trump said, "Slow testing down, please." He's literally saying he doesn't want to test because he knows the more you test, the more the numbers rise, which looks bad for him. That's like an oncologist seeing a polyp and saying: "You know what, we'll just let that pass and hope that maybe disappears. I'm going to go on a vacation now and I'll see you back in a couple of months." How irresponsible that is, it's really jaw-dropping in its cynicism.One thing I think we're going to look back on is how quickly the pandemic begins right after the impeachment trial ends. And in this period of chaos and unaccountability in government, Trump fires a bunch of inspectors general.He had been doing that for some time. I mean, that's his M.O. It really is all about him. And that's why the tension in making this film was we needed to hold him to account, because he is the commander-in-chief. He's the president of the United States. But we were very cautious about not making the film too Trump-centric because there is, after all, a government to consider. And also the people whose job it was to push back against the president, in this case did not. And then juxtaposed to what Trump was doing, were these poignant stories of the public officials, public-health officials, who were trying desperately to make a difference and to keep people safe. And they're being consistently undermined by Trump himself.So it was a real challenge, because that's the great and terrible skill that Trump has. He keeps us all so distracted by his outrageousness, which is intended to draw attention to him, so that we don't pay attention to things like the sacking of the inspectors general, to the way testing was slow-walked, all the policy issues and all the mechanisms of government that one after another he's filling with sand and glue.<div type="image" title="Jared Kushner" height="1455" width="2000" msid="78662074" hostid="261"></div><h2>'This administration works outside of the government'</h2>One argument I've been hearing a lot from Trump-sympathetic people is that "Of course, there's political appointees running the Centers for Disease Control and the Food and Drug Administration, that's how it goes." But it seems like this particular CDC leadership is much more beholden politically to the president than would seem normal.Let's not be too cynical. When you're a political appointee and you are appointed to be head of the CDC, for example, in a way you're serving two masters. You're serving the president because you've been appointed by the president, but you're also serving the institution and the ethics and goals of that institution. It's your job to serve both, which is how good governance works. In the Trump administration, there was only one job, which was to serve Trump and to say what he wanted to hear, to do what he wanted to do, and let the institution be damned.What you see with Trump is the corrupting of institutions that it turns out are very valuable. People can talk all they want about the "deep state." Another way of talking about the deep state is to say that institutions have values. And the CDC was known as the gold standard in terms of epidemiology and understanding disease and the production of vaccines. All of that was hugely influential throughout the world, and that has been completely undone by Donald Trump. He's corrupted it.Max Kennedy, one of Jared Kushner's volunteers — <a href="https://www.businessinsider.com/trumps-devotion-cronyism-getting-people-killed-coronavirus-pandemic-covid-2020-5">the 20-somethings he put in charge of securing the nation's PPE supply</a> — says in the film, "This administration works outside of the government." That feels in line with what you're saying. That particular Trump political appointees have hollowed out the government--They have.And that's how you end up with images of volunteers using Gmail accounts and private laptops in a dark room, begging companies for PPE.It's feckless. These were kids — in their early 20s. They so desperately wanted to help that they're volunteering their time to work 80 hours a week in the middle of a pandemic to try to help get valuable PPE — N95 masks, gowns, and gloves — to doctors and nurses.They go in and discover that, actually, they are the plan and that there's no guidance for them except, "Do a Google search on who might have PPE in China." Worse, they're not even permitted to buy materials themselves or to affect the way the government might buy those materials. They're there just to cut deals, so that then a certain small group of selected companies can go in, get that stuff, and then profiteer off it.Not only were [the companies] subsidized by the government, but they were permitted to sell these materials to whoever they wanted, sometimes even foreign countries, and make whatever profit they thought was meaningful to them. That meant the states, as we show in the film, were going on eBay desperately trying to keep up with the soaring prices of stuff that was desperately needed for nurses and doctors. The cynicism of that, the idea of bringing a business approach to government, is really shocking.Can you tell me a little more about who these volunteers were and how they were recruited?There was just a word sent out by some of Kushner's people, "Wouldn't it be great to have some volunteers," and there was an operation out of FEMA where Kushner said he was going to run his PPE task force. So it was a "through the grapevine" kind of thing.Max Kennedy Jr. told us his former employer approached him and said, "I hear that they're looking for volunteers to work really long hours to try to help Jared Kushner's new team find PPE." It was very ad hoc. There was no routine to it. There was no experience needed. Just show up.But the most shocking thing for the volunteers was that they expected they were going to be doing data entry, running for coffee, being support troops for a robust organization that was already running on six cylinders. But to their chagrin and horror, they discovered that they were, in fact, the task force.Did Max Kennedy violate his nondisclosure agreement by speaking with you?He did. But he did so with good legal advice. The NDA was probably not valid, and they weren't being given any classified information. The NDA was purely an afterthought to try to contain the damage that would come from exposing the truth of what was actually happening.I was certainly shocked and surprised with Max Kennedy's testimony, but what was also surprising to me was stumbling on the "<a href="https://www.nytimes.com/2020/03/19/us/politics/trump-coronavirus-outbreak.html">Crimson Contagion</a>" story.In October 2019, the Trump administration published its own report on how to handle a pandemic that arrived in this country from China. It had all the lessons learned about what they did right and wrong in that exercise, and how that would enable them to do better in the future. They had a very detailed playbook on how to handle this properly. And then when the pandemic came, they left that laminated playbook on the shelf. They never opened it. That was a shocker.<h2>The damage wrought by the well-meaning lies of the 'experts'</h2>Early in the pandemic, when PPE was in desperately short supply, the CDC and the surgeon general both told the public, "Don't wear masks." They said they're not effective in preventing coronavirus. We now know they were lying, too, and it was a last-ditch effort to keep N95 masks available for first-responders and hospital workers and prevent bulk panic-buying.But with the levels of trust in institutions already so low in this country, was the lie worth it?I'm not sure it was. That all could have been done a different way. There had to have been a way to give a kind of truthful reckoning and account to the American people, even while safeguarding that supply. But this also goes back to the beginning.<a href="https://www.businessinsider.com/rick-bright-60-minutes-us-coronavirus-response-chaotic-2020-5">Rick Bright</a>, who was running BARDA (Biomedical Advanced Research and Development Authority), which is focused and dedicated to pandemic response inside the government, said in early January that we've got to get it together and gear up on PPE right now. This is even before the first COVID test, just as a way of precaution, and nobody listened. It's like saying "What's the point of finishing the roof because it's sunny today?"<div type="image" title="trump covid tweet economy" height="1418" width="2837" msid="78662081" hostid="261"></div>This film drops three weeks before the election, and it's covering events that are still very fresh. What do you want people to get out of this?Again, to emphasize, this film focuses on the early days. And the reason it focuses on the early days is because those were the days when all of this could have been prevented. I think it's very important that people understand that we don't have to be in the situation that we're in. And that's why we use the comparison with South Korea, because they never had to shut down their economy and country of 51 million people. They now have a total of less than 500 COVID deaths. Even if you multiply that by six, it's a tiny number compared to our titanic death toll.The film is about competence. It's not a political film — it's not designed to be one party attacking another. It was designed to look at an administration, and how did this administration that prides itself on its business approach to governance handle this? That's the bottom line here: Did they do a good job or a bad job?Unfortunately for this administration, the result looks more like a true-crime film than purely a film about competence, because the death toll was so high and the crimes of fraud and negligence are so extreme. I hope people will see that and render a judgment in early November on the complete incompetence of this administration in terms of dealing with public health, which affects all of us.I'm sure the film was totally wrapped up and sealed with a bow when Trump's positive COVID test became public two weeks ago. But what was your reaction to that <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword>? The film was finished, officially, the day before that announcement, and I was sleeping soundly as a result. But at 2 a.m. that Friday morning, I got a call from Tom Quinn, the head of [the film's distributor] <a href="https://watch.neonrated.com/">NEON</a>. He said Trump has tested positive for coronavirus. So I didn't sleep much more that morning. And the team huddled early in the day to reckon with what we were going to do. Were we going to open the film up? Were we going to delay its release?Ultimately we decided the best way would be to both end the film, and then throw it forward. So we put in a card at the end that said, "One day after finishing this film, Trump tested positive for coronavirus."Everything that happens after that is part of the news, but just stating that at the end of the film seemed a way of both throwing it back to the beginning and extending it out into the future.<ul class="read-more-links"><li>Read more:</li><li><a href="https://www.businessinsider.com/trump-doesnt-respect-science-american-people-covid-coronavirus-climate-change-2020-10">Trump doesn't respect science, or the American people</a></li><li><a href="https://www.businessinsider.com/andrew-cuomo-memory-hole-covid-nursing-home-coronavirus-new-york-2020-10">Andrew Cuomo is shamelessly trying to memory-hole his coronavirus nursing home fiasco</a></li><li><a href="https://www.businessinsider.com/trump-white-house-covid-hotspot-unsafe-workplace-workers-rights-safety-2020-10">The Trump administration made the White House a COVID hotspot and an unsafe workplace. There isn't much the workers can do about it.</a></li><li><a href="https://www.businessinsider.com/parenting-school-aged-kids-covid-helpless-failed-leaders-2020-10">Being a parent of school-aged kids during COVID is to be helpless in the face of failed 'leaders'</a></li></ul>

'Totally Under Control' filmmaker Alex Gibney on Trump's hapless coronavirus response, Jared Kushner's ridiculous PPE strategy, and the breakdown of America's institutions

<div class="KonaFilter image-container display-table float_right"><div><div class="image">REUTERS/Lucas JacksonLightning strikes One World Trade Center in Manhattan as the sun sets behind the city after a summer storm in New York July 2, 2014. </div></div></div>Good morning! Here's what you need to know:
Here Comes The Jobs Report. This <a href="http://www.businessinsider.com/the-us-economy-has-some-serious-momentum-2014-7">jam-packed week of economic data</a> ends with a whopper: the Bureau of Labor Statistics (BLS) employment situation report. Economists estimate that <a href="http://www.businessinsider.com/june-jobs-report-preview-2014-7">U.S. companies added 215,000 payrolls in June</a> with the unemployment rate unchanged at 6.3%.
But The Number Could Actually Be Huge. Earlier this week, ADP said that U.S. companies added <a href="http://www.businessinsider.com/adp-july-2-2014-7">281,000 private payrolls in June</a>, crushing expectations for 205,000. This has some economists thinking that we could get a big surprise today. "The overall tone of [the ADP] report was unambiguously positive and it suggests that the US labor market may again be firing on all cylinders, and on an accounting basis points to payrolls growth closer to 300K," said TD Securities Millan Mulraine, who also noted that ADP tends to miss the BLS report by a wide margin. Here's Societe Generale's Brian Jones, <a href="http://www.businessinsider.com/most-bullish-forecast-for-jobs-report-2014-7">who's forecasting 290,000</a>: "A variety of factors support our call for the largest payroll gain since the 360,000 leap recorded at the beginning of 2012. The average number of persons filing initial claims for unemployment insurance benefits contracted by 12,100 to 312,000 over the four weeks heading into the June establishment survey period. The total number of persons collecting unemployment insurance benefits under regular state programs likely contracted by 54,000 to 2.57 million between canvassing periods - the fewest since October 2007 - implying that a substantial number of those previously unemployed are finding work. The impressive breadth of hiring across private industries over the March-May span also points to a pick-up in headline payroll growth."
Keep An Eye On Wages. Included, in the BLS report will be wage growth data. Economists estimate average hourly earnings climbed by 0.2% month-over-month and 1.9% year-over-year. "Wage rates should be as important now as the jobless rate," said UBS's Kevin Cummins. "Although the latter lends insight into the size of the output gap, the former sheds light on whether labor or capital is claiming the upper hand in the perennial struggle for national income. Both are critical to policy-makers watching for signs of rising inflation risks."
Markets Are Up. U.S. stock market futures are in the green with Dow futures up 16 points, S&amp;P futures up 1.8 points, and Nasdaq futures is up 5 points. In Europe, Britain's FTSE is up 0.4%, France's CAC 40 is up 0.4%, Germany's DAX is up 0.5%, and Spain's 0.2%. In Asia, Japan's Nikkei closed down 0.1% and Hong Kong's Hang Seng closed down 0.1%. U.S. markets close at 1:00 p.m. ET.
Sweden's Central Bank Cuts. Sweden's Riksbank <a href="http://www.bloomberg.com/news/2014-07-03/swedish-riksbank-cuts-rates-by-more-than-estimated-to-0-25-.html">cut its benchmark interest rate by 0.5%</a>, which was more than expected by economists. The Swedish krona fell and European stocks rose after the announcement.
Eurozone Sales Are Going Nowhere. Retail sales saw <a href="http://www.businessinsider.com/eurozone-retail-sales-0-growth-2014-7">0.0% growth in May</a>, missing expectations for a 0.3% gain. To make things worse, the April 0.4% growth rate was revised down to -0.2%. "In one line: Slightly disappointing, but we remain optimistic that current momentum can be sustained," said Pantheon Macroeconomics' Claus Vistesen noting the 0.7% year-over-year growth. "Consumption growth is still decent in the eurozone, but not as impressive as we would have hoped given the strong trend in consumer confidence."
Overall, Europe Is Slowing. Markit's Eurozone <a href="http://www.businessinsider.com/r-euro-zone-business-growth-slows-in-june-as-french-activity-drops-pmi-2014-03">composite purchasing managers index (PMI)</a> fell to a six-month low of 52.8 in June from 53.5 in May. "At first glance, June's PMI survey results make grim reading and raise worries that the euro area's recovery is already fading," said Markit's Chris Williamson. "Dig a little deeper, however, and there are grounds for optimism. We should not lose sight of the fact that, even with the slowdown, the June data round off the best quarter for three years. We should expect economic growth to strengthen from the 0.2% rise seen in the first quarter to perhaps 0.4% in the second quarter."
Pay Attention To Draghi. The <a href="http://www.businessinsider.com/july-ecb-meeting-preview-2014-7">European Central Bank meets today</a> to discuss and decide on the path of monetary policy. Economists expect the ECB to hold the main refinancing rate at 0.15%, the marginal lending facility rate at 0.40% and the deposit facility rate at -0.1%. However, ECB-watchers will be listening for any more information regarding the bank's plan for targeted ong-Term Refinancing Operations (TLTRO), the subsidized loans in targeted areas, which are intended to boost lending to the non-financial private sector.
Don't Forget About The Trade Report. Economists estimate that the U.S. trade deficit narrowed to $45.0 billion in May from $47.2 billion in April. "While June employment will no doubt overshadow this morning's international trade and nonmanufacturing ISM releases, it is worth highlighting the former," wrote Deutsche Bank economists. "Recall that the -2.9% annualized drop in Q1 real GDP was primarily due to a plunge in net exports, which subtracted 150 bps from overall output and a slower pace of inventory accumulation, which lopped another 170 bps off of growth."
It's Worth Watching ISM Services. The ISM non-manufacturing report will be published at 10:00 a.m. ET. Economists estimate this index will be unchanged at 56.3. "The ISM non-manufacturing index probably remained elevated in June, consistent with our economic forecast for a sharp bounce back in growth in the second quarter," <a href="http://www.businessinsider.com/monday-scouting-report-june-30-2014-2014-6">said Citi's Peter D'Antonio</a>. "The regional and national purchasing managers' surveys have been running at a feverish pace, offering support for this view."

10 Things You Need To Know Before The Opening Bell

<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>In this excerpt from "<a href="http://www.amazon.com/ISIS-Inside-Terror-Michael-Weiss/dp/1941393578" target="_blank">ISIS: Inside the Army of Terror</a>," co-authors Michael Weiss and Hassan Hassan explain how ISIS funds its nascent caliphate.ISIS has married its authoritarian governance with a remarkably successful war economy.FSA and Islamist groups that controlled oil fields in eastern Syria, for example, did dedicate some of the revenue to run schools and supply electricity, telecommunications, water, food, and other services.Some villages and towns saw a decline in such services because ISIS distributed oil revenue to other towns under its control in Syria and Iraq, establishing its own pan-territorial patronage system.As a result, in oil-rich areas, warlordism-a side effect of strictly localized rebel governance- dropped steadily.ISIS also forced municipality personnel to work, unlike previous groups that had allowed Syrian state employees to continue to re- ceive their salaries (mostly from the regime) while they sat at home and did nothing, no doubt with attendant kickbacks. "The streets are cleaner now; 70 percent of the employees were not working, even though they received salaries," said a former media activist with the FSA from Deir Ezzor."They cancelled the customary day off on Saturday; they're supposed to make Thursday the day off instead." Regulations and price control are another area in which ISIS's governance proved successful. It banned fishermen from using dynamite and electricity to catch fish.It also prohibited residents in the Jazira from using the chaos of war to stake new land claims, principally in the Syrian desert, where they had tried to build new homes or establish businesses, much to the chagrin of their neighbors. ISIS also limited the profit margins on oil by-products, ice, flour, and other essential commodities.<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div>Before ISIS controlled eastern Syria, an oil well produced around thirty thousand barrels per day, and each barrel sold for two thousand Syrian pounds-eleven dollars at the current exchange rate. Local families that worked in refineries would make two hundred liras (a little more than one dollar) on each barrel they refined primitively. After ISIS took over, a barrel of oil became cheaper because it fixed the price of a liter of oil at fifty pounds (thirty cents).ISIS also banned families from setting up refineries close to residences under the threat of confiscation, a policy that led some families to quit the oil business altogether. Collectively, price control and regulations balanced the decline in resources and services.Subsidies from Gulf countries, where many of those who live in ISIS-controlled areas work, also helped some families afford electricity-generating engines and oil by-products."Those in the Gulf who used to send once a month now send twice a month because they understand the situation," said the former FSA media activist. "Also, there is no big difference in value. In 2010 a kilo of chicken was 190 pounds [$1] and is now 470 [$2.60]." Oil was a major revenue generator for ISIS until the coalition air strikes began. Before that, ISIS was thought to have earned mil- lions of dollars a month from oil in Syria and Iraq-$1 to 2 million a day. The revenue dropped significantly after the air strikes. But oil smuggling to neighboring countries such as Turkey and Jordan, and to other areas in Syria and Iraq, still makes significant revenue for ISIS.<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>The sharp decline in oil production affected civilians more than it affected ISIS, which could still generate wealth from other sources, but it hampered ISIS's ability to provide for the local communities, especially much-coveted materials such as gas cylinders. "I estimate that the impact of air strikes was 5 percent," said the media activist, who still lives in Deir Ezzor. "They affected oil primarily. Food is plenty, and most of it comes from Turkey or Iraq. Borders are open; if you don't like prices here, you go to Anbar. I see the situation as normal." ISIS's oil market savvy has impressed and shocked many ob- servers, although Derek Harvey isn't one of them. "I know for a fact that the Saddamists who were smuggling the oil in the '90s, to evade UN sanctions, are now doing so for ISIS," he said."People are saying that they're selling it for thirty-five dollars a barrel. What we bombed recently is some of the local refineries. If you're selling it at that price, it's fifty to fifty-five dollars off the current market price. But here's what happens: these middlemen are selling it, and there's a kickback coming back in to ISIS's senior leaders. They're getting another twenty, twenty-five dollars a barrel in kickbacks, but that's not on the books or being factored in by everybody. It's going back into the kitty of financiers at the top of the pyramid. The ISIS fighters in Deir Ezzor would not be aware of that."<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Locals in eastern Syria had learned to survive on remittances from the Gulf and local economies even before the uprising. High oil prices led many to rely less on agricultural products since the energy had to be spent pumping water from the Euphrates or Tigress rivers to their farmlands many miles away. After the war started, cheaper oil revived the Syrian agribusiness-smuggling and livestock trade markets began booming again.When ISIS seized control of the Jazira, people were already buying their own oil for irrigation and electricity and didn't need to rely on subsidized services.Germany's foreign intelligence agency,the Bundesnachrichten- dienst (BND), has cautioned against "overblown" speculation about ISIS's high oil revenue because there is a tendency to discount the massive overhead and spending inside its territories. But, as per Harvey, ISIS pockets most of this revenue, as it sometimes taxes residents for services supplied by the regime, such as electricity and telecommunication. Unlike Islamist groups that operated regime-established facilities for the local communities gratis, ISIS has developed a surcharge economy to replenish its own coffers.ISIS also makes millions from zakat (different forms of Islamic alms payable to the state). Zakat is extracted from annual savings or capital assets (2.5 percent), gold (on values exceeding $4,500), livestock (two heads out of 100 heads owned by a farmer), dates, crops (10 percent if irrigated by rain or a nearby stream or river, and 5 percent if irrigation costs money), and profits (2.5 percent).<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>ISIS also imposes annual taxes on non-Muslims living in its territories, especially Christians (4.25 grams of gold for the rich and half of that for moderate-income individuals). It makes money by stealing dressed up as civil penalties: it confiscates the properties of displaced or wanted individuals or as punishment for fighting ISIS.This includes, of course, enormous stocks of weapons and ammunition as part of its community disarmament policies. While donations from foreign sponsors constitute a meager percentage of its treasury, deep-pocked individuals, whether foreign donors or members who have joined the group, still contribute to the group.More significantly, ghanima (war spoils, which in ISIS's definition encompasses robbery and theft) is one of the group's largest and most valuable sources of income. ISIS seized millions of dollars worth of American and foreign military equipment after it forced three Iraqi divisions to flee in June 2014, and it has also seized large stockpiles of weapons as well as equipment, facilities, and cash from Syria's regime and rebel groups.<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Artifacts are also lucrative for ISIS-one man interviewed in Turkey said trade in artifacts grew during ISIS rule,with one of his cousins smuggling into Turkey golden statues and coins found in Mari ancient ruins, eleven kilometers away from Albu Kamal.Michael Weiss is the editor in chief of the Interpreter and a widely published journalist with a focus on developments in Syria, Turkey, and Russia. He is the co-author of "<a href="http://www.amazon.com/ISIS-Inside-Terror-Michael-Weiss/dp/1941393578" target="_blank">ISIS: Inside the Army of Terror</a>." Follow him on Twitter: <a href="https://twitter.com/michaeldweiss" target="_blank">@michaeldweiss</a>.Republished with permission from <a href="http://www.amazon.com/ISIS-Inside-Terror-Michael-Weiss/dp/1941393578" target="_blank">ISIS: Inside the Army of Terror</a> by Michael Weiss. Copyright © 2015 by Michael Weiss and Hassan Hassan. Reprinted by arrangement with Regan Arts. All rights reserved. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-headphones-tricks-2015-2">14 things you didn't know your iPhone headphones could do</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o2OGM3czpWcydnvhjbkDBd6feXPuExiD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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