Analysts are counting on Prime Minister Narendra Modi to raise gas prices in India. European Pressphoto Agency India may soon put a floor under years of sliding investment in natural gas production as the new government is likely to increase the price of the fuel offered to gas producers and explorers. The previous Congress Party-led government had proposed increasing the price of natural gas to $8 per million British thermal units from $4.20 per mmBtu, but this was put on hold ahead of the elections . The current level is about a third of the cost of gas imported into India, with imports meeting 35% of local gas needs. Now that voting is over , analysts are anticipating that the new Bharatiya Janata Party-led government will increase gas prices as it had campaigned on the promise of economic reforms and industrial development. Proponents say this is needed […]