Petrol price was increased by 14 paisa per litre to Rs 72.17 and diesel by 15 paisa to Rs 65.58 per litre in New Delhi.
The blue print for the stimulus is ready that would be announced by FM Nirmala Sitharaman in the next few days, an official said.
According to the report, when rise in oil prices are driven more by supply-side factors it is more damaging to large net oil importers.
He said that the RBI has been cutting rates to give a boost to the economy as slowdown was visible for past few months.
A massive drone strike on the world's largest crude-processing facility operated by Saudi Arabia's Aramco has driven up oil prices.
Elevated crude oil prices have emerged as major fears for India in form of fiscal slippage and inflationary pressure.
After nosediving 704 points, the 30-share Sensex ended 642.22 points, or 1.73 per cent, lower at 36,481.09.
Gold is trading at Rs 38,905 per 10 gram in the bullion market here on Tuesday due to weak demand.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.01 per cent to 98.61.
Govt is working on bringing in the revised version of the scheme UDAY 2 which seeks to address power sector issues he added.
The current fund allocated when fully utilised would aid in completing about 1.6 lakh units.
Takehiko also emphasized ADB must continue to be an important centre for fostering cooperation and friendship among countries.
The company has not given a specific timeline for the resumption of full output.
Government had made the provision of levying 2 per cent TDS on cash withdrawals exceeding Rs 1 crore.
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On government’s intervention with a stimulus package, he said there was no certainty if this would happen.
The SUV competes with the likes of the Ford Endeavour, Mahindra Alturas G4 and Isuzu MU-X in the Indian market.
The system will provide multiple payment modes and instant confirmation of payment.
At present, the EPFO is settling PF withdrawal claims at 8.55 per cent interest rate.
The country buys over two-thirds of its oil, mostly from the Middle East, making it most vulnerable to any rise in oil price.
The use of P-notes has been on a decline since 2017 and slumped to a nine-and-a-half year low of Rs 66,587 crore in October-end.
Industry finds that the stress fund allocated to the housing sector with several riders will not increase demand among homebuyers.