Wednesday August 13, 2014
IOC lost Rs 15,328.34 crore on selling diesel, domestic LPG and kerosene at government controlled rates in April-June this year. The government made good about 40 per cent of this by way of cash subsidy of Rs 6,076 crore. It got another Rs 8,107.21 c...
Monday August 11, 2014
Fuel retailers sell diesel, domestic LPG and kerosene at government controlled rates which are below market price. The loss they thus incur is made good through cash subsidy from the government and dole from upstream firms like ONGC.
Friday July 4, 2014
The Oil Ministry is likely to move the Cabinet Committee on Political Affairs (CCPA) soon with an expert panels recommendations of raising kerosene price by Rs 4 per litre and cooking gas (LPG) rates by Rs 250 per cylinder.
Tuesday June 24, 2014
For diesel, the subsidy estimated is Rs 35,736 crore but this will come down if the monthly increases continue as planned, sources said.
Thursday May 22, 2014
As subsidy bill balloons to $26 billion and oil and natural gas production stagnates, the Oil Ministry feels national oil companies like ONGC are losing focus on their core competence has led to this insipid situation.
Friday January 24, 2014
The Cabinet Committee on Economic Affairs (CCEA) may raise the subsidised LPG (liquefied petroleum gas) cylinder quota from 9 to 12 per household per year at the next meeting, Petroleum Minister M Veerappa Moily said on Friday.
Tuesday January 21, 2014
With Congress vice president Rahul Gandhi pitching strongly for a higher LPG cap, Oil Minister M Veerappa Moily today said the Cabinet is likely to consider increasing the quota of subsidised cooking gas cylinders to 12 from nine per household this w...
Monday January 20, 2014
Raising the cap on the number of subsidized LPG cylinders will lead to an additional subsidy burden of Rs 4,000 crore for the government, analysts estimated.
India | Indo-Asian News Service | Sunday January 19, 2014
Odisha has sought an extension of the deadline for implementing the direct transfer of cash subsidy scheme for Liquid Petroleum Gas (LPG) cylinders in the state as many people do not have Aadhaar cards, a top officer said on Sunday.
Friday January 17, 2014
Shortly after he finished speaking, Oil Minister Veerappa Moily announced that it would be done. Two weeks ago, he had said that there was no such proposal to raise the subsidy cap, though several Congress leaders and chief ministers had raised the d...
India | Edited by Deepshikha Ghosh | Friday January 17, 2014
The government today announced that it would raise the quota of subsidized cooking gas, moments after Rahul Gandhi forcefully raised the demand at a Congress party platform.
Friday January 17, 2014
The demand, if accepted, will further strain federal finances which are under pressure in the face of weak tax receipts in a slowdown-hit economy and rising public expenditure.
Tuesday December 31, 2013
Domestic cooking gas consumers in Delhi and Mumbai will from January 1, 2014 get cash subsidy for buying cooking gas refills as the Direct Benefit Transfer for LPG (DBTL) Scheme will be extended to 105 more districts, according to official sources.
Thursday December 26, 2013
In the last six months, the government has transferred over Rs 2,000 crore in the accounts of 40 million consumers under the Direct Benefit Transfer for LPG (DBTL) scheme in 184 districts.
Friday December 13, 2013
The government-appointed Kirit Parikh committee suggested an "immediate" hike prices of diesel by Rs 5 a litre, Rs 4 per litre in kerosene and Rs 250 per cylinder in LPG, reduce annual entitlement of subsidised cooking gas cylinder from six from nine...
Friday November 1, 2013
The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd (OIL) to give Rs 16,729.74 crore to make up for 47 per cent of the Rs 35,328 crore revenue that retailers lost on selling diesel, domestic ...
Wednesday October 30, 2013
A government panel recommended that India immediately raise diesel prices by about 9.5 percent or 5 rupees a litre and take other measures to cut a huge oil subsidy bill, but its suggestions may prove tough to follow.
Monday September 16, 2013
IOC and other oil firms have been paying LPG consumers in 54 districts up to Rs 500 to help them buy a 14.2-kg cooking gas refill at market price, which is more than double of Rs 410 per bottle rate in Delhi.
Friday August 30, 2013
Following the success of its pilot programme in 20 districts, the scheme to pay LPG subsidy directly to cooking gas consumers will be extended to 269 districts by January 1, Finance Minister P Chidambaram said on Thursday. The minister also said LPG ...
Thursday August 8, 2013
Depreciating rupee has resulted in widening losses on fuel sales and oil firms are currently losing Rs 9.29 per litre on diesel, Rs 33.54 a litre on kerosene and Rs 412 per 14.2-kg LPG cylinder.