-The Economic Times The government appears to have developed cold feet over implementing Kelkar panel's recommendations to slash subsidies drastically at a time when it is facing backlash for raising diesel prices and capping subsidised Cooking cylinders. The report, which has been put out for public comments, warns that India is on the edge of a fiscal precipice. A senior finance ministry official has said that the report has not been accepted...

-NDTV The Kelkar committee has said subsidies pose the greatest risk to the country's fiscal situation, while suggesting that the excise and service tax rates should be cut to 8% over the next few years. The panel calls for the need to step up disinvestment drive in state-run firms for fiscal consolidation. It says diesel should be deregulated by 2014 and all subsidy on Cooking gas be cut by 2015. All subsidies must be...

-The Telegraph The government today said there was no ban on issuing fresh Cooking gas connections but there was a three-week break, pending elimination of duplicate connections and update of software to take into account the six-a-year subsidy cap. State-owned oil firms are carrying out a nationwide exercise to eliminate multiple connections at the same address. Only one LPG connection is allowed at one address while the rest are being disconnected. “When a...

-The Times of India In a relief to consumers, the home minister P Chidambaram on Friday announced abolishment the import and excise duties on non-subsidized domestic LPG cylinders, bringing down their price by Rs 97 a unit in Delhi. It also asked states to subsidize LPG cylinders. The government had last week restricted supply of subsidized Cooking gas to six per household in a year. Any requirement beyond this was to be...

-The Telegraph Non-subsidised domestic Cooking gas will cost Rs 832 per cylinder in Calcutta following the Centre’s decision to forego customs and excise duties that add up to Rs 103.50 apiece. However, if the Bengal government drops local levies, consumers can save Rs 52.50 more as the price will fall further to about Rs 780 a cylinder. According to new rules, every family will have to pay the market rate once it crosses...