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Give Up LPG Subsidy is a campaign that was launched in March 2015 by the Indian government led by Prime Minister Narendra Modi. It is aimed at motivating LPG users who are able to afford to pay the market price for LPG to voluntarily surrender their LPG subsidy. [1] As of 23 April 2016, 10 million people had voluntarily given up the subsidy. [2]
A modified Direct Benefit Transfer of LPG (DBTL) scheme in 54 districts in 11 states was started 15 November 2014 whereby LPG consumers who have not yet availed the benefit will be able to get cash subsidy amount transferred into their accounts to buy liquefied petroleum gas (LPG) cylinders at market price. [34]
LNG price is linked to the prevailing crude oil price in global markets. [64] The purchase price would be cut to around US$2.5 per million BTU for the six-month period beginning April 1, 2020 compared to US$3.23 for the earlier period. [65] In March 2020, India announced that is increasing taxes on petrol and diesel to raise government revenues ...
The scheme led to an increase in LPG consumption by 56% in 2019 as compared to 2014. [ 9 ] The highly popular scheme has benefited over 14.6 million BPL families in Uttar Pradesh, 8.8 million in West Bengal , 8.5 million in Bihar, 7.1 million in Madhya Pradesh , 6.3 million in Rajasthan and 3.24 million in Tamil Nadu .
GAIL produces LPG through fractionation in gas processing units, known as straight-run LPG. GAIL's LPG is an eco-friendly fuel and provides a cheaper and more effective means of reducing pollution and increasing productivity. GAIL LPG is being supplied to PSU Oil Marketing Companies namely IOCL, BPCL and HPCL ex-GPUs at Import Parity Price. [31]
The first Indane LPG connection was released on 22 October 1965 at Kolkata. Indane serves more than 130 million families through a network of 12,500 distributors. 27% of its customers reside in semi-urban or rural markets and every second LPG cooking gas connection in India is that of Indane. The sales network is backed by 47 Indane area offices.
The state of UP gets the gas line of length 338 km. Bihar state will get about 441 km long line. Jharkhand, a state in east India, gets 500 KM long and another state in eastern India, West Bengal, will have the pipe line of length 542 km and Odisha gets benefited by 718 km pipeline as per the specifications of project details issued in public.
where OP is the annual average Brent crude price for the previous FY, with a cap of $60 per barrel and a floor of $25 per barrel. [10] As the annual Brent price has always been above $60 from 2007 to 2014, the revised gas price at $5.61 during the year 2014 is in excess of the applicable maximum price by nearly 20%.