Header Ads

Breaking News

After hike in petrol prices, will there be limit on number of subsidised LPG cylinders?

limited LPG, LPG cylinders, LPG price, petrol price hike, India,Live News, Today Top Stories, Latest News, Daily News, Breaking News, Latest News, Political News, Business News, Financial News, Bollywood News, Sports, India News, World News, Top News, Lifestyle News,Daily News, Blogs, Videos, Travel, Auto

New Delhi: After the Rs. 3 per litre hike in petrol prices, middle-income households may have to shell out more for domestic cooking gas.

An Empowered Group of Ministers (EGoM) will meet today under the chairmanship of Finance Minister Pranab Mukherjee to discuss measures to reduce fuel subsidy burden of the government. A decision on capping the number of subsidised LPG cylinders for households is likely to be taken.

Sources have told NDTV that the DMK will not attend this meeting today as it is reportedly upset with the dual pricing mechanism of LPG cylinders. The party is also said to be unhappy as it was not consulted on petroleum price hike. The Trinamool Congress too may skip the meeting.

According to a proposal to be discussed today, consumers who own a car, a house or pay income-tax will get only limited supply of subsidised LPG cylinders (reportedly four to six per year). Consumers may have to buy cylinders above this specified quota at market rates.

Currently, a consumer in Delhi can buy a domestic LPG cylinder at a price of Rs. 395.35. This comes at a discount of about Rs. 270, calculated on import parity pricing.

The total subsidy on the sale of LPG for the current financial year is estimated at Rs. 27,000 crore.

Read more at: http://www.ndtv.com/article/india/after-hike-in-petrol-prices-will-there-be-limit-on-number-of-subsidised-lpg-cylinders-134042?pfrom=home-lateststories

No comments:

Powered by Blogger.