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
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- 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.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024
- From underdog to Bill Gates-sponsored superfood: Have millets finally managed to make a comeback?
- 7 Things to do on your next trip to Rishikesh