Top headlines: RIL, BP announce major gas find, Modi assures farmers on MSP

Business Standard brings you top news of the evening

RIL, BP find gas from KG Basin's R-cluster, Asia's deepest offshore field

Reliance and its partner BP today announced the first gas from the R Cluster, ultra-deep-water gas field in block KG D6 off the east coast of India. The two companies are developing three deepwater gas projects in block KG D6 – R Cluster, Satellites Cluster and MJ – which together are expected to meet 15 per cent of India’s gas demand by 2023, the two firms said in a joint statement. These projects will utilise the existing hub infrastructure in the KG D6 block. Read more

'No bigger lie' than to say MSP will be scrapped: Modi defends farm laws

New laws giving farmers freedom in selling their produce have brought in after a "lot of thought" but are opposed by political parties for selfish reasons, said Prime Minister Narendra Modi on Friday as he insisted that support price for agricultural produce will continue. "Farm laws have not been introduced overnight. Over last 20-30 years, central and state governments had detailed discussions on these reforms. Agriculture experts, economists and progressive farmers have been demanding such reforms,” he said in a speech defending the reforms. Read more

6.35 mn domestic air passengers in Nov, 51% lower than last year: DGCA

A total of 63.54 (6.35 million) lakh domestic passengers travelled by air in November, 51 per cent lower than the corresponding period last year, the country's aviation regulator DGCA said on Friday. As per the DGCA, 39.43 lakh and 52.71 lakh people travelled by air domestically in September and October, respectively. While IndiGo carried 34.23 lakh passengers in November, a 53.9 per cent share of the total domestic market, SpiceJet flew 8.4 lakh passengers, which is 13.2 per cent share of the market, according to data shared by the DGCA. Read more

India will have to spend $1.8 bn on Covid-19 vaccines in Phase 1: Report

India will have to spend $1.4 billion to $1.8 billion in the first phase of a coronavirus vaccination programme, even after getting support under the COVAX global vaccine-sharing scheme, according to estimates by the GAVI vaccines alliance. India, which has the world’s second highest caseload of coronavirus behind the United States, plans to inoculate 300 million people over the next six to eight months, likely with vaccines from AstraZeneca, Russia’s Sputnik, Zydus Cadila and India’s own Bharat Biotech. Read more

Lawmakers urge Biden to extend work authorisations to H-1B holders' spouses

A group of 60 US lawmakers have urged President-elect Joe Biden to revoke a Trump administration policy and extend the validity of work authorisation documents for H4 visa holders, who are spouses of those possessing H-1B visas, with majority being highly-skilled Indian women. An H-4 visa is issued by the US Citizenship and Immigration Services (USCIS) to immediate family members (spouse and children under 21 years of age) of the H-1B visa holders, most of whom are Indian IT professionals. It is normally issued to those who have already started the process of seeking employment-based lawful permanent resident status. Read more