Saudi Arabia's steep cut in LPG benchmark prices has pushed India's household LPG underrecoveries to their lowest level in over two years, slashing oil companies' losses from Rs 200-250 per cylinder last year to about Rs 20-40 now.
President Droupadi Murmu addressed both Houses of Parliament, highlighting the government's achievements in various sectors, including economic growth, social welfare, and infrastructure development. She emphasized the government's efforts to lift the economy out of "policy paralysis" and create a more inclusive society. Murmu also acknowledged the challenges posed by digital fraud and cybercrime and stressed the need for a social infrastructure revolution. The President's speech is considered a policy statement, outlining the government's vision and roadmap for the future.
Prime Minister Narendra Modi on Friday announced a Rs 100 per cylinder cut in cooking gas LPG price to ease financial burden on households. Non-subsidised cooking gas price will be cut to Rs 803 per 14.2-kg cylinder in the national capital with effect from midnight of Friday/Saturday, official sources said. Prices vary from state to state depending on the incidence on local taxes.
In accordance with Supreme Court directives to the states, the Madhya Pradesh cabinet approved MP Mob Lynching Victim Compensation Scheme 2023, said minister for medical education Vishwas Sarang after the cabinet meeting.
India may have to lean more on West Asian nations for supplies of liquefied petroleum gas (LPG), a cooking fuel, in the coming years after Indian state-run refiners drew up big plans to diversify into producing more profitable petrochemicals. This shift leads to reduced LPG output, Indian refining executives said. The mantra for state-run oil companies, from Indian Oil Corporation (IndianOil) to liquefied natural gas (LNG) importer Petronet LNG, which are looking to diversify their businesses from lower-margin fuels, has been value-added petrochemicals.
The ministry of finance is likely to assume crude oil price to remain within $85 per barrel while estimating subsidies for the Interim Budget 2024-25 (FY25), to be presented on February 1. Brent crude prices moved up on Thursday, ending at $78.9 per barrel. Crude oil and cooking gas prices, which move in tandem, impact fertiliser and cooking gas subsidies, constituting 53 per cent of the government's total subsidies.
'Individual beneficiary desirous of availing the benefits under the scheme (PMUY) is hereby required to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication,' said a gazette notification issued by the ministry of petroleum and natural gas.
Sitharaman said that the government keeps 'Antodaya' (development of all) at the centre of all its programmes.
Over 100 beneficiaries of the Pradhan Mantri Ujjwala Yojana from 20 states will share with the LPG panchayat their experiences of how clean cooking fuel has changed their lives, in the presence of President Ram Nath Kovind.
Ahead of the upcoming elections, political parties have started announcing incentives to benefit women, but what do women truly seek for genuine gender parity, asks Nivedita Mookerji.
A major reason for the decline in the consumption of kerosene was an increase in the number of LPG consumers in rural India after the government launched the Pradhan Mantri Ujjwala Yojana. in 2016.
The BJP lost 15 of the 80 Lok Sabha seats in 2019. Union ministers have been deployed in all 15, tasked with turning the result around.
OMCs' Digital India move is likely to have an impact on more than 80.3 million Pradhan Mantri Ujjwala Yojana consumers, majority of whom are not exposed to digital transact.
Petroleum and oil marketing companies raised the price of commercial liquid petroleum gas (LPG) cylinders by Rs 350.50 per unit and domestic LPG cylinders by Rs 50 per unit with immediate effect from Wednesday.
From road transport to health insurance, tax rules have changed from October 1.
The government on Tuesday announced a Rs 200 per cylinder cut in prices of domestic cooking gas as it looked to counter the cheaper LPG promise of the Congress in upcoming assembly elections in states like Madhya Pradesh.
LPG price was increased to Rs 858.50 per 14.2 kg cylinder from Rs 714 previously, according to a price notification from State-owned oil firms. This is the steepest hike in rates since January 2014, when prices had gone up by Rs 220 per cylinder to Rs 1,241.
Calling himself 'Shramik No.1' (Worker No.1), he listed out initiatives taken by his government for the welfare of labourers.
Prime Minister Narendra Modi on Thursday said India has become the fifth largest economy in the world and this is not an ordinary achievement. "Every Indian is feeling proud of it. We need to maintain this enthusiasm," Modi said. He was virtually addressing beneficiaries of various government schemes and those present at a mega medical camp organised in Olpad area of Surat city in Gujarat, where the Assembly polls are due later this year.
Rebuffing petroleum ministry, Siddaramaiah launches Pradhan Mantri Ujjwala Yojana-like scheme months before state polls
Union finance secretary T V Somanathan recently said the Centre had saved Rs 10,000 crore in FY22 on interest payments after adopting new accounting mechanisms for central government agencies and centrally sponsored schemes (CSS) for state governments. Speaking at an event, Somanathan said due to these, there was an unspent balance of Rs 1.2 trillion with state agencies from CSS as on March 31, 2022. This means this amount will be reduced from the Centre's borrowing for now and it can be considered a short-term saving for the exchequer.
Air pollution is the third highest cause of death among all health risks in India, ranking just above smoking.
Congress president Mallikarjun Kharge alleged that the price of domestic cooking gas cylinder has been raised by Rs 50 and that of commercial gas cylinder by Rs 350 at a time when every person in the country is facing the brunt of high inflation.
Global crude oil prices have slumped by 49 per cent during the same period
The Congress leaders agreed that demonising Prime Minister Narendra Modi was "wrong" and he should be praised for doing the right things.
The country's present growth rate is 7.6% and its economy is $1.7 trillion.
Given that the target was to reach 80.34 million families under PMUY - within three months starting April 1 - the government should have distributed at least 241.02 million cylinders by the end of June. It actually ended up distributing only 119.7 million cylinders.
One of the major challenges before the government is that the annual average refill by a PMUY consumer is 3.28 cylinders compared to seven for others.
The relaxation would be available only to those beneficiaries who have been credited with the advance for buying the cylinder but have not been able to purchase the refill.
The farmer said he was impressed and had benefitted by welfare schemes like the Pradhan Mantri Kisan Samman Nidhi.
Experts say having an open fire in the kitchen is like burning 400 cigarettes an hour.
The ministry of petroleum and natural gas is evaluating a threshold at which the subsidy on liquefied petroleum gas (LPG or cooking gas) will be reinstated. According to a senior government official in the know, a survey is currently being conducted to determine the price at which maximum consumers will keep buying domestic cylinders. One of the options also being considered is to limit any subsidy disbursal only to Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries.
A shortfall in LPG supply from Aramco has led to huge booking backlog across states. To meet the backlog, India has asked Abu Dhabi National Oil Company for two additional cargos of LPG, but that may take another 10 days to reach.
Govt looks to take cooking gas to tiger reserves, Naxal-hit areas
Never have I been so thankful for my decision to quit my life in Mumbai and shift to Santiniketan as I have been in these times of the coronavirus.
The kerosene subsidy is expected to decline by 40 per cent from Rs 7,595 crore in 2016-17 to Rs 4,500 crore this financial year.
The excise duty cut will translate into a reduction of Rs 9.5 a litre on petrol and Rs 7 a litre in diesel after taking into account its impact on other levies.
Billionaire investor Rakesh Jhunjhunwala explains why he thinks Modi should be at the helm of India.
A swift recovery in oil demand in India is not only helping the stability of the global market, it is giving huge fiscal headroom to the government in terms of additional excise duty.
It is time we recognise Modi's work and what he did between 2014 and 2019 due to which he was voted back to power, he said.
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