The government will provide five crore LPG connections on concessional rates in the name of women from below poverty line.
All subsidies will be eliminated by March 2018
A day after Election Commission rap, Oil Minister M Veerappa Moily on Wednesday said the government has not yet taken any decision on raising cap on supply of subsidised LPG cylinders and the EC would have been informed before announcing any decision.
The government is likely to extend by two more years subsidies on LPG and kerosene while asking the state-run oil firms to bear part of the Rs 14,000 crore under-recoveries due to unchanged prices despite a rise in the cost of raw material.
Minutes after the Union Cabinet approved raising the cap on subsidised liquefied petroleum gas (LPG) cylinders from nine to 12 per connection in a year, Reserve Bank of India (RBI) Governor Raghuram Rajan questioned the decision, suggesting it was "misdirected subsidy".
The union government is planning to release about 5.5 crore new LPG connections over the next five years, petroleum and natural gas minister Murli Deora said.
The price of non-subsidised cooking gas (LPG) was on cut by Rs 21 per cylinder and that of jet fuel (ATF) by a steep 3 per cent on the back of falling international oil rates.
Over 12,450 LPG users have so far voluntarily given up their subsidies, but this accounts for only 0.008 per cent of about 15 crore (150 million) domestic cooking gas consumers in the country.
The seeding of LPG database with Aadhar numbers is above 55 per cent and overall Aadhar penetration is 90 per cent in these districts.
Police said around 15 people were rescued and shifted to Acharya Bhikshu hospital. Of them, seven died and four people, who were critical, have been shifted to Safdarjung hospital. A few more persons are feared trapped under the debris, they said.
1.46 lakh such consumers have voluntarily given up the subsidy.
The recent government decision to restrict supply of subsidised cooking gas cylinders to six per year to each household will see consumption for fuel decline to 4.1 per cent in second half of the fiscal, a report by think-tank CMIE said.
The Tihar jail authorities expect the network, which will carry gas to jail kitchens, to be laid out by April and this will cost about Rs 60 lakh, Director General (Prisons) B K Gupta told reporters. "LPG cylinders are widely used by prisoners during riots in jails and we want to avoid such incidents," he said. During the January 7 jail riots in a Jalandhar prison, the inmates threw LPG cylinders into the fire but luckily, these did not explode.
Rates have been on the upswing since October, 2016.
In a race to woo voters with freebies ahead of the upcoming state assembly elections, Punjab Congress chief Navjot Singh Sidhu on Monday promised Rs 2,000 per month for women homemakers if his party returns to power.
Jet fuel or ATF price on Tuesday was hiked by a steep 8.5 per cent - the second increase in a month, while commercial cooking gas rate was cut by Rs 100 per cylinder in line with divergent trends in international benchmarks. Aviation turbine fuel (ATF) price was increased by 7,728.38 per kilolitre, or 8.5 per cent, in the national capital to Rs 98,508.26 per kl, according to a price notification of state-owned fuel retailers. Rates, which vary from state to state depending on the incidence of local sales tax or VAT, have been increased on firming up of global rates that followed four months of decline.
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 also withdrew the five per cent VAT on compressed natural gas besides bringing back the VAT for tea, coffee and cocoa to five per cent from the proposed 12.5 per cent.
This is the second straight increase in jet fuel rates in as many months.
Rinku Singh speaks in a matter of fact manner, just like his evening job under arc-lights -- smoke the bowlers to all parts of the park and dip the crowd in delirium.
The market responded positively to the Q1 results of oil marketing companies (OMCs), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) despite numbers being weaker than consensus. BPCL's reported gross refining margin (GRM) was in line at $7.9 per barrel (bbl) in Q1FY25, which implies marketing margin stood at Rs 4.8 per litre. Standalone profit after tax or PAT at Rs 3,000 crore was down versus consensus due to under-recoveries in LPG business.
Aviation turbine fuel to now cost more.
In order to end use of kerosene -- which often does not reach the intended beneficiaries -- the Delhi government on Tuesday launched an ambitious scheme, where about 3.5 lakh BPL and poor families will get free LPG cylinders and gas stoves.
India, the world's third largest energy consumer, has enough petrol, diesel and cooking gas (LPG) in stock to last way beyond the three-week nationwide lockdown, as all plants and supply locations are fully operational, Indian Oil Corp (IOC) chairman Sanjiv Singh said.an Singh, who continued to oversee the mammoth operations of ensuring that fuel reaches every nook and corner despite the loss of his father on the day the 21-day lockdown was declared, said there was no shortage of any fuel in the country and customers should not resort to panic booking of LPG refills.
Pahal looks to cut down diversion and eliminate duplicate.
Rs 7,024 cr transferred under LPG cash subsidy scheme.
Since international oil prices have fallen, the government's subsidy payout will fall by almost Rs 50 per cylinder to Rs 240.
The phased increase of prices is being done to sell the fuel at international prices.
LPG customers of Bharat Petroleum Corporation Limited (BPCL) will continue to get cooking gas subsidy post-privatisation of the nation's second-biggest fuel retailers, Oil Minister Dharmendra Pradhan said on Friday. "Subsidy on LPG is paid to consumers directly and not to any company. So the ownership of the company that sells LPG is not of any material consequence," Pradhan told PTI. The government gives 12 cooking gas (LPG) cylinders of 14.2-kg each to households in a year at a subsidised rate.
New schemes allows consumers without Aadhaar to receive cash directly in their bank accounts
The scheme was to be rolled out in 20 districts initially but the launch in Mysore in Karnataka and Mandi in Himachal Pradesh has been put off by a month due to assembly and Parliamentary bypolls, official sources said.
The Manipur government on Tuesday lifted the suspension on broadband internet conditionally in a 'liberalised manner', nearly three months after it was banned due to the ethnic violence in the state.
Congress president Mallikarjun Kharge has accused the BJP of rigging the Maharashtra assembly elections and called for a return to ballot paper voting. He also criticized the Modi government for selling off public assets, undermining democratic institutions, and promoting communal polarization. Kharge's remarks come as the Congress prepares for its AICC session in Ahmedabad, where it will present its political and economic views.
A couple and their two children were injured in a small LPG cylinder blast in their house in Sarai Kale Khan area of South Delhi on Friday, the police said.
To cut subsidy bill and reduce fiscal deficit, the previous United Progressive Alliance government had restricted the number of subsidised domestic cylinders per household to six every year in September 2012, revising it to nine the following January
The new system will entail a periodic revision in the price of subsidised LPG cylinders so that the subsidy remains fixed.
Based on the complaint filed by the rail staff police has lodged an FIR against unknown persons regarding the matter.
Kharadi has eight children -- four sons and as many daughters -- from two wives. The entire family lives in Neechla Thala village, about three kilometres from Kotda tehsil of Udaipur.
Govt targets 1 cr consumers to give up LPG subsidy.
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