LPG prices to be hiked by Rs 4 per month: Narendra Modi government
LPG prices to be hiked by Rs 4 per month: Narendra Modi government
The Government Had Previously Asked Indian Oil (IOC), Bharat Petroleum (BPCL) And Hindustan Petroleum (HPCL) To Raise Rates Of Subsidised Domestic LPG (liquefied Petroleum Gas) By Rs 2 Per 14.2-kg Cylinder Per Month (excluding VAT). PTI | Updated on: 28 Aug 2017, 07:57:17 AM
New Delhi:
Modi government has ordered state-run oil companies to raise subsidised cooking gas (LPG) prices by Rs 4 per cylinder every month to eliminate all the subsidies by March next year.
The government had previously asked Indian Oil (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) to raise rates of subsidised domestic LPG (liquefied petroleum gas) by Rs 2 per 14.2-kg cylinder per month (excluding VAT).
How is this different from policies in the past? What is likely to be sold?
The story so far: Finance Minister Nirmala Sitharaman, in her Budget speech for 2021-22, announced a new policy for central public sector enterprises (CPSEs), which she said will serve as a clear roadmap for disinvestment of government-owned firms across sectors. “We have kept four areas that are strategic where bare minimum CPSEs will be maintained and rest privatised. In the remaining sectors, all CPSEs will be privatised,” the Minister said.
What goes outside government control?
The government had revealed the broad contours of the policy in May 2020 as part of the Atmanirbhar Bharat package unveiled in the initial stages of the COVID-19 pandemic. The strategic sectors identified at the time for retaining certain public sector entities within the government’s control remain the same in the final policy approved by the Cabinet. These are atomic energy, space and defence, transport and telecommunic
Oil India shares opened with a gain of 2.55% today at Rs 124.90 against the last close of Rs 121.80. Later, the stock touched an intraday high of Rs 126.8, rising 4.11% on BSE
Oil India led consortium to bid for acquiring BPCL s stake in Numaligarh Refinery ANI | Updated: Feb 19, 2021 11:33 IST
The bid is to be submitted through a formal process. The exact percentage of the stake of OIL and ElL will depend on the extent of right of first offer to be exercised by the state government of Assam which holds 12.35 per cent stake in NRL.
Last year, the Assam government had given a no-objection certificate to the NRL deal on condition that another 13.65 per cent stake in NRL will be sold to the state. This will increase the state government s stake in the company to 26 per cent.
Read more about Oil India led consortium to bid for BPCL s stake in Numaligarh Refinery on Business Standard. As part of a larger plan for disinvestment of Public Sector Undertakings, the government wants to privatise downstream oil refiner BPCL by the end of the first half of next financial year (2021-22)