Top economy news of the day- September 24, 2015

Iran has offered natural gas to India at a rate of $2.95 per mmbtu for a urea manufacturing plant. India wants to set this up on the Chabahar port on the South-East coast of Iran.

The Petroleum and Natural Gas Regulatory Board (PNGRB), the downstream regulator, has initiated a consultative process to end the marketing monopoly of city gas distributors. In a public notice, the regulator has said it "intends to declare the end of exclusivity period" for several city gas distribution networks.

Iran has offered natural gas to India at a rate of $2.95 per mmbtu for a urea manufacturing plant. India wants to set this up on the Chabahar port on the South-East coast of Iran. India is looking at an investment opportunity of around Rs1tn in the overall project that includes setting up berths at the Chabahar port.