In 2022-23, India’s LPG consumption was 28.5 million tons (MT) and production was 12.8 MT. At over 41.1 percent, LPG imports accounted for the largest share of petroleum product imports in 2022-23. Domestic
Diesel, kerosene and cooking gas prices could be raised soon while the government might separately take up a proposal to raise the cap on supply of subsidised LPG cylinders. The government may take a look at raising the cap on supply of subsidised LPG cylinders to 9 per household in a year from current limit of six along with the Vijay Kelkar Committee recommendations to deregulate diesel prices by next year along with steep hike in cooking fuel rates.
Diesel, kerosene and cooking gas LPG prices may be hiked soon as the government considers Vijay Kelkar committee recommendations on cutting fiscal deficit. The Kelkar committee, which was appointed by the finance ministry to suggest a roadmap for fiscal consolidation, has suggested immediate hike in fuel prices and complete deregulation of diesel prices by start of fiscal 2014-15. It also suggested raising kerosene and LPG prices.
In our article “Subsidies for Whom? The Case of LPG in India” (EPW, 3 November 2012), we demonstrated convincingly that the distribution of liquefied petroleum gas (LPG) uptake in India is heavily skewed
Petroleum and natural gas minister Veerappa Moily on Friday said his ministry was yet to take a view on the Kelkar committee proposal to raise diesel prices in a calibrated manner, leading to full deregulation
The oil ministry has moved two separate cabinet notes - one to raise cap on supply of subsidised cooking gas cylinders and the other to increase fuel prices, particularly diesel, by less than a rupee per month to pair it with market rates and eventually deregulate it in next 15 months. The ministry has also proposed to reduce one-third subsidy on kerosene by 2014-15 and on cooking gas by a quarter in this year, government officials said. According to oil ministry's recent data, state oil firms are losing Rs 9 a litre on diesel, Rs 30.60 on kerosene and Rs 490 per cylinder on cooking gas. The proposals will substantially reduce government's subsidy burden on diesel, kerosene and liquefied petroleum gas (LPG), officials said. The estimated fuel subsidy for 2012-13 is about Rs 166,000 crore, out of which the finance ministry has sanctioned Rs 30,000 crore and released the first installment of Rs 10,000 crore to state oil marketing firms this week.
The “Indian Petroleum & Natural Gas Statistics” presents comprehensive statistics on various aspects of Indian Petroleum & Natural Gas Industries. The data on international developments in respect of the
In order to incentivize the LPG Industry for enhancing local LPG production as well as import of LPG and its utilization in the automotive sector & in LPG Air Mix plants for provision of gas to consumers,
The economy is likely to witness a growth rate of 6.8 per cent in the next year driven by the reform push of the government, says a report. According to global research firm Dun & Bradstreet (D&B), India's GDP is likely to register 5.5 per cent growth during 2012, much below the expansion level achieved in the previous year. However, growth is expected to revive in the next year. "GDP is likely to clock a growth rate of 6.8 per cent during 2013 as policy environment improves, investment conditions revive and inflationary pressures abate," Dun & Bradstreet India Senior Economist Arun Singh said.
Hike being mulled as govt scrambles to find ways to meet Rs 1,60,000 cr deficit expected this fiscal on selling diesel, LPG and kerosene below production cost Diesel prices may be hiked by Rs 10 per litre over a 10-month period and kerosene rates increased by same quantum over the next two years if a proposal being mulled in the Oil Ministry is accepted.
The oil ministry may raise prices of diesel by . 1 a litre or that of cooking gas by . 100 to neutralise the impact of its plan to increase the supply of subsidised cylinders to households, government
