Every family below poverty line may get over Rs 400 per month from the government from April next year in lieu of fuel subsidy for kerosene and liquefied petroleum gas cylinders as part of India's first direct cash transfer scheme. The move, which is expected to be considered by Empowered Group of Ministers (EGoM) on June 9, is aimed at checking use of kerosene for fuel adulteration and reduce financial...
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Food ministry seeks delay in ethanol blending plan by Prabha Jagannathan
The food ministry is set to oppose the mandatory 5% ethanol blending programme, fearing diversion of foodgrain for manufacture of ethanol. The ministry has called for the report of the expert panel headed by Planning Commission member Saumitra Chaudhuri in order to "review" the programme. The petroleum ministry was expected to soon send the report to the Cabinet Committee on Economic Affairs for a final decision after factoring in the dissent notes...
More »Oil companies to hike petrol price by Rs 5/litre wef midnight
-The Economic Times In the steepest hike ever, state- owned oil companies today increased petrol price by about Rs 5 per litre with effect from midnight tonight. The increase in petrol price, which the oil firms had been holding since January even though crude oil had touched a two-and-a-half-year high, came a day after election results of five state assemblies were announced. IndianOil, Bharat Petroleum and Hindustan Petroleum will hike rates between...
More »Petrol price may be hiked by Rs 3
A hike in diesel and domestic LPG prices has been deferred for now, but an increase in petrol prices later this week looks imminent. An Empowered Group of Minister (EGoM) headed by Finance Minister Pranab Mukherjee was to meet on Wednesday to consider raising the diesel price by Rs 3-4 a litre and domestic LPG rates by Rs 20-25 per cylinder, but the meeting was deferred without assigning any reason. "No new...
More »Bid to restrict subsidised LPG use by R Suryamurthy
The government plans to restrict subsidised domestic LPG cylinders to six per household every year. For additional cylinders, consumers will have to pay the market price. Data show 65-70 per cent of households use 5-6 cylinders (14.2 kg) a year, while the remaining use more. In Calcutta, PSU oil marketing firms suffer a loss of Rs 329.73 by selling an LPG cylinder at Rs 365.10. A senior oil ministry official said the proposal...
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