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LPG SUBSIDY FORMULA
Spicier than jhalmuri: The Rs 1.7 lakh crore fiscal bite hidden in state election resultsWhat looked like a light-hearted campaign moment during PM Narendra Modi’s West Bengal trail has now turned into a major fiscal concern aft...- Decontrol oil prices and replace cross-subsidies with targeted DBTs for needy householdsDuring recent global crude price volatility linked to West Asia tensions, retail fuel prices in India remained largely unchanged, unlike in...
- Govt mulls revamp of LPG subsidy formula after state-run firms sign US supply contractsIndia's government is considering a change to its LPG subsidy formula following state-run oil companies' first annual supply contracts with...
- Government exempts ONGC, Oil India from fuel subsidy payment in Q3 over slump in oil pricesThe government has decided to bear this loss as well and pay all of the Rs 3,279 crore subsidy on LPG and Rs 2,870 crore on kerosene for th...
- Government caps kerosene subsidy at Rs 12/litre, LPG at Rs 18/kgKerosene through PDS is sold at Rs 14.96/litre against the actual cost of Rs 29.91. The difference between the two, is termed as under-reco...
- Finance Ministry to give Rs 1,300 crore kerosene subsidyThe official said the Budget for 2015-16 has provided for Rs 22,000 crore towards LPG subsidy and another Rs 8,000 crore on kerosene.
- Oil & gas producers expected to bear subsidy burden of Rs 5Kcr - Rs 6Kcr in FY16State-run oil and gas producers are expected to bear a subsidy burden of Rs 5,000 crore-Rs 6,000 crore this fiscal under a new subsidy shar...
- ONGC, OIL free from subsidy if average oil price is $60/barrelGovt has exempted ONGC & Oil India from payment of fuel subsidy if global oil prices avg up to $ 60 a barrel, but will pay a graded rate be...
- PSU oil marketing companies' subsidy burden may fall to Rs 28,000-34,000 crore in FY16: ICRAWith the scheme, OMCs would be allowed to sell domestic LPG at market price while subsidy will be directly transferred to the accounts of c...
- ICRA sees PSU OMCs FY16 subsidy burden reducing to Rs 280-340 croreICRA assumes Indian Basket crude oil price at $70 per barrel and INR/US$ at 63 and 50%- 60% sharing of gross under recoveries.
- Narendra Modi may push ahead with diesel price deregulationThe BJP had in its election manifesto promised to revive the economy from the slowest pace of growth in a decade and expedite foreign inves...
- Will gas price hike bleed PSUs further?The government's decision to notify the new gas pricing formula within three weeks will come as a boost to private refiners.
- Kirit Parikh panel recommends Rs 4-5 per litre immediate hike in diesel pricesGovernment is looking to alter the way diesel and cooking fuels are priced to reduce its subsidy burden, which appears to be spiralling out...
- Govt mulling cap on ONGC, OIL crude oil priceCurrently, ONGC and OIL are entitled to international oil prices for the 28 million tonnes of crude they produce annually.
- ONGC may bear Rs 12,300 cr subsidy burdenONGC may have to shell out a record Rs 12,300 crore in fuel subsidies in the April-June quarter as the government deters from raising retai...
- ONGC fuel subsidy bill up 21 per cent in Q3As per this subsidy sharing formula, ONGC will chip in with Rs 4,222 crore by way of discount on crude oil it sells to IOC, BPCL and HPCL.
- Govt to pay state oilcos Rs 10K cr to compensate rev lossThe government will give Rs 10,000 crore to state fuel retailers for selling fuel below cost in the first half of the current fiscal.
- ONGC fuel subsidy bill up 15 per cent in Q2Oil and Natural Gas Corporation's fuel subsidy bill will increase by nearly 15 per cent to Rs 3,019 crore in the second quarter this fiscal.
- New subsidy math set to replace oil bondsThe government is working out a new subsidy formula to replace the current system of compensating oil marketing companies (OMC) for selling...
- APM dismantled, but not abandonedThe government's policy on subsidies for controlled products like LPG and kerosene is still unclear with the retail prices still being admi...
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