-The Business Standard A decision has been taken to gradually initiate Aadhaar and non-Aadhaar based LPG subsidy transfer through the OMCs Having capped subsidised LPG cylinder to six, the government plans to move to a single price for domestic LPG by directly transferring subsidy to consumers with or without Aadhaar number. A committee of officials from ministries of petroleum, banking, expenditure, finance and UIDAI will prepare a white paper on the modalities...
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BPL families likely to get subsidised gas
-Pragativadi Bhubaneswar: With the Centre restricting subsidised cooking gas cylinders to six per year, the Odisha government has been contemplating to provide certain relief to BPL families having LPG connections. The food, supplies and consumer welfare department has, sources said, undertaken an exercise with the LPG providing oil companies to work out a strategy for the purpose. Before taking any decision, the state government has proposed to seek information from the oil marketing...
More »Oil PSUs: Decoding the math of loss or under-recovery and what it means-Avinash Celestine
-The Economic Times How right was the government when it stated that the under-recoveries posed a threat to 'our national economy'? Or when the government says that it gave more to the sector in the form of subsidies than it earned as fuel taxes? The government would also like you to believe that the under-recoveries, dependent as they are on the price of crude in the international market, and the exchange...
More »Oil companies set to reduce petrol prices -Piyush Pandey
-The Times of India MUMBAI: Consumers may get some relief as Oil Marketing Companies (OMCs) plan to revise petrol prices downward due to falling international crude oil prices and a strengthening rupee. The Indian basket of crude oil fell to $106.74 on September 20 from $116 five days earlier, according to data published by the oil ministry. The rupee, which hit a four-month-high of 53.47 on September 21, is expected to strengthen...
More »Accounts of PSU oil companies under scrutiny -Siddharth
-The Times of India The finance ministry has ordered a scrutiny of the books of Oil Marketing Companies to see if the under-recoveries stated by them are in order or not. The move was initiated at the behest of finance minister P Chidamabram, who asked his officers to look into the issue even before diesel prices were raised and a cap on subsidized cooking gas cylinders was announced last week. The exercise...
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