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The per capita consumption of oil in the country was 0.13 Toe (Tonnes oil equivalent) against the world average of 0.58 Toe (Source; BP Statistical Review of World Energy June 2012), said Smt. Panabaaka Lakshmi, Minister of State for Petroleum & Natural Gas.

Oil consumption in India has also raised to 148 MMT during 2011-12 from 141 MMT in 2010-11, an increase of about 5%. The Minister said that the in order to tackle air pollution due to consumption of auto fuels, Government has already taken steps in terms of introduction and supply of BS IV fuels in 26 major cities (including National Capital Region) and BS II fuels in the rest of the country. Ministry has also decided to extend coverage of BS-IV fuels to 37 more cities by 2015.

Hong Kong Intervenes In Forex Again To Defend Dollar Peg

The Hong Kong Monetary Authority on Thursday sold HK$2.3 billion as the currency again hit the top end of the trading range.

The Hong Kong dollar is pegged at HK$7.80 to the U.S. dollar but can be traded between HK$7.75 and HK$7.85. The central bank intervenes when the currency reaches the strong end of the trading range.

Data released on Wednesday showed that overall foreign-currency deposits grew by 0.6 percent in September, while renminbi deposits in Hong Kong declined by 1.2 percent to CNY 545.7 billion.