________ A to Z kerala .......... [kvk]
New Delhi: After raising the railway fares, the Union Government is reportedly getting ready to give the public another shocker _ hike in LPG price.
The Centre wants to raise the price by Rs 10 per cylinder a month and the move is estimated to collect Rs 7000 crore. Reports say the amount the Centre spends under the fuel subsidy may cross Rs 1.40 lakh crore by this year-end. Further, the rise in fuel price owing to the unrest in Iraq too is believed to create huge financial burden.
The LPG price hike is modeled on the diesel price, which was raised by 50 paise per month. By raising Rs 10 per month, the government wants to eliminate the subsidy gradually.
Meanwhile, it has been decided to retain the number of subsidised cylinders at 12 as of now.
An announcement regarding the price hike may be made in the upcoming budget. ThePetroleum Panning and Analysis Cell functioning under the Petroleumand Natural GasMinistry has made a recommendation to the Centre in this regard.
The PMO made it clear that the government has to take a tough call with the oil price rising to nine months high.
New Delhi: After raising the railway fares, the Union Government is reportedly getting ready to give the public another shocker _ hike in LPG price.The Centre wants to raise the price by Rs 10 per cylinder a month and the move is estimated to collect Rs 7000 crore. Reports say the amount the Centre spends under the fuel subsidy may cross Rs 1.40 lakh crore by this year-end. Further, the rise in fuel price owing to the unrest in Iraq too is believed to create huge financial burden.
The LPG price hike is modeled on the diesel price, which was raised by 50 paise per month. By raising Rs 10 per month, the government wants to eliminate the subsidy gradually.
Meanwhile, it has been decided to retain the number of subsidised cylinders at 12 as of now.
An announcement regarding the price hike may be made in the upcoming budget. ThePetroleum Panning and Analysis Cell functioning under the Petroleumand Natural GasMinistry has made a recommendation to the Centre in this regard.
The PMO made it clear that the government has to take a tough call with the oil price rising to nine months high.
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