Finance Ministry fixes kerosene subsidy at Rs 12 per litre
Advertisement
The Finance Ministry on Monday sanctioned Rs 1,300.42 crore kerosene subsidy for the first quarter.
The ministry will pay state-owned fuel retailers Rs 1,300 crore cash and the same on LPG will be decided later.
News agency PTI reported that out of this, Rs 878.84 crore will be paid toIndian Oil Corporation (IOC), while Rs 203.33 crore will be given to Bharat Petroleum Corporation (BPCL). Hindustan Petroleum Corporation (HPCL) will receive Rs 218.25 crore.
Reportedly, Kerosene through Public Distribution System (PDS) is sold at Rs 14.96 per litre while the actual cost is Rs 33.47.
A senior official told PTI that for domestic cooking gas LPG, the government has decided to fully bear the under-recovery.
The 2015-16 budget has provided for Rs 22,000 crore towards LPG subsidy and another Rs 8,000 crore on kerosene.
(Image: Indiatimes)
Advertisement
The ministry will pay state-owned fuel retailers Rs 1,300 crore cash and the same on LPG will be decided later.
News agency PTI reported that out of this, Rs 878.84 crore will be paid to
Reportedly, Kerosene through Public Distribution System (PDS) is sold at Rs 14.96 per litre while the actual cost is Rs 33.47.
A senior official told PTI that for domestic cooking gas LPG, the government has decided to fully bear the under-recovery.
Advertisement
(Image: Indiatimes)
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Markets extend gains for 5th session; Sensex revisits 74k
- Top 10 tourist places to visit in Darjeeling in 2024
- India's forex reserves sufficient to cover 11 months of projected imports
- ITC plans to open more hotels overseas: CMD Sanjiv Puri
- 7 Indian dishes that are extremely rich in calcium