It seems that there is good time ahead for the Indian middle class which has been suffering from rising inflation since long time now.

The inability of Reliance Industries to give desired outcome from their east coast KG-D6 gas field has led them pay penalty, which still has to be decided by the petroleum ministry.

Call it a fall in global oil rates or an announcement ahead of elections, petrol prices have been sliced down by Rs 2 in India. The revised prices would be effective from November 16.

Cairn India reported a year-on-year decline of 51 per cent in its quarterly profit as the company made the royalty payment for its Rajasthan Oilfields.