Although the future of Direct Benefits Transfer (DBT) on liquefied petroleum gas (LPG) is uncertain for now, the upcoming vote-on-account is likely to account for about Rs 1,300 crore that was transferred to the bank accounts of customers in the form of subsidy.
An Empowered Group of Ministers, headed by Finance Minister Pranab Mukherjee, is likely to meet on May 21 to decide on freeing petrol and diesel prices from government control.
Even as India is mulling legislation to make energy-efficient air conditioners and refrigerators, consumer durable manufacturers are already thinking beyond that.
With assembly polls in four crucial states in mind, the government has decided not to increase prices of cooking gas and kerosene for a year.
Economists said the full cascading impact of the sharp raise in diesel, LPG and kerosene prices announced on May 24, would be visible from July onwards when inflation could touch the double digit mark.
Hindustan Petroleum Corporation Ltd is to set up three liquefied petroleum gas bottling plants with an investment of Rs 55 crore (Rs 550 million) even as it plans to introduce the 5-kg LPG cylinders in the urban areas.
The government has asked the rich to give up subsidies on LPG to make them available to people who deserve it.
Gandhi in a tweet wrote, "Mehngi gas, mehnga ration, band karo khokhla bhashan, daam bandho, kaam do, varna khali karo singhasan."
If elections are indeed around the corner, the government is unlikely to allow even a moderate hike in petrol and diesel prices.
The government on Wednesday rolled back its decision to hike LPG price by Rs 5 every month.
The state-owned oil retailing firms are seeking a Rs 40 per cylinder raise in the domestic cooking gas prices and a Rs 2 per litre hike in kerosene prices to offset the drastic cut in the subsidy provided by the government.
According to police, LPG cylinders exploded at 0325 IST on the ground floor of a building having a diamond unit.
Bajaj Auto Ltd is close to introducing two-wheelers that will use green fuels such as compressed natural gas or liquefied petroleum gas.
The issue of price rise is a worry for every government -- it is a political volcano. But the United Progressive Alliance on Friday steeply hiked the fuel price. Will people react? Or do they remain silent and suffer? Abhishek Mande talks to experts to 'read' the pulse.
Economic growth not only changed the food consumption pattern in rural households but has also encouraged rural India to go for more efficient energy sources like liquefied petroleum gas.
State-owned Oil and Natural Gas Corp (ONGC) will add about Rs 8,000 crore (Rs 80 billion) to its profits annually from near doubling of natural gas prices from next fiscal.
LPG demand this fiscal is expected to be around 11 million tonne, against around 10.2 million tonne last year. It is the subsidised price of LPG, which is available at around Rs 21 per kg for domestic use. LPG for industries, which is outside price control, is sold at around Rs 58 per kg, up from around Rs 36 per kg last year.
Expecting oil prices to remain under pressure, Fitch Ratings said deregulation of diesel prices in October will help in lowering the under-recoveries (which is nothing but international petroleum prices minus the subsidised retail rates).
State-run Indian Oil Corporation on Wednesday it was incurring a loss of Rs 50 crore (Rs 500 million) per day on sale of all fuel products but petrol.
The rates are hikes by almost 8 per cent.
The impact of fiscal measures announced by the government to contain inflation will be seen in the next few months because of the base effect, reports Indivjal Dhasmana.
After the increase, cost of a subsidised 14.2-kg cylinder will be Rs 417 a cylinder from Rs 414 in Delhi.
Govt expects to save Rs 10,000 crore through this move.
The government is mulling building a Rs 2,760 crore (Rs 27.60 billion) strategic storage facility by 2007-08 to stock 45-days requirement of liquefied petroleum gas as cover for emergencies.
The Indian Oil Corporation has taken a hit of about Rs 1,000 crore (Rs 10 billion) in the first quarter of the current fiscal on selling subsidised LPG and Kerosene below the cost.
According to police, CPI-M legislator K Bhimrao and other party supporters were arrested from Guindy railway station in Chennai.
Gor underlined that President Trump has a "deep friendship" with Prime Minister Narendra Modi, and that is something that is unique.
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