Business Other News 27 Feb 2016 Subsidy cap of 10 LP ...

Subsidy cap of 10 LPG cylinders proposed

FINANCIAL CHRONICLE
Published Feb 27, 2016, 10:11 am IST
Updated Feb 27, 2016, 10:13 am IST
The survey has proposed market-determined arm's length pricing to domestically- produced natural gas.
This is expected to further reduce subsidy burden on the government that is has already gone down drastically. (Representational Image)
 This is expected to further reduce subsidy burden on the government that is has already gone down drastically. (Representational Image)

New Delhi: The Economic Survey has suggested wide-ranging reform initiatives for the oil and gas sector so that the current situation of lower global crude prices is used to boost investment and create desired infrastructure.

The survey has proposed market-determined arm's length pricing to domestically- produced natural gas, a viability gap funding scheme for promoting gas pipeline infrastructure, inclusion of natural gas and LNG as declared good for uniform pricing across states and inclusion of petroleum products under the proposed goods and services tax (GST).

 

The survey has also said that rationalisation of LPG subsidy regime is essential and suggests capping subsidy to 10 cylinders per annum against the present 12 for each household. This is expected to further reduce subsidy burden on the government that is has already gone down drastically.

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Location: India, Delhi, New Delhi




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