Diabytes
Subsidised LPG News
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The price reduction comes soon after six consecutive monthly hikes in rates since June. Prior to this price cut, rates had gone up by Rs 14.13 per cylinder since then.
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The price of non-subsidised LPG or market-priced cooking gas has also been hiked by Rs 73.5 to Rs 597.50 per bottle.
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Tax payers with annual income of more than Rs 10 lakh will not get subsidised cooking gas (LPG) from next month as the Modi government has decided to limit supply of under-priced fuel to cut subsidies.
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Around 3.5 lakh well-off people have given up subsidised LPGs, Prime Minister Narendra Modi has said, noting that the money saved on this will be diverted to those who still use wood for cooking.
The move comes close on heels of Tata Group requesting its employees to voluntarily consider giving up use of subsidised LPG.
The group said Modi's appeal to citizens, who can buy LPG at market prices to do so and forego the subsidy, is in the national interest.
In a setback to non-state LPG marketeers, the government's top law officer has ruled that all domestically produced cooking gas (LPG) should necessarily be sold to PSUs for subsidised sale to consumers.
The increase in commission - which as per practice is passed on to consumers - has been effected from October 23.
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