Indian Petroleum and Natural Gas Minister, Hardeep Singh Puri, on Friday announced the government's commitment to reducing gas cylinder prices in an effort to alleviate financial burdens. During an exclusive interview with NDTV, Puri revealed that the government is already providing a subsidy of Rs 200 per cylinder.
He also highlighted the government's support during the pandemic, offering three free cylinders and witnessing a rise in consumption, particularly among vulnerable sections and those below the poverty line. "During the (COVID) pandemic, the government provided three cylinders for free. Cylinder consumption for weaker section and those who live below the poverty line has gone up to 3 cylinders to 3.7 cylinders; average consumption is around 4 cylinders," Puri said.
In the interview, Puri criticised the prevalent "revadi brand of politics," referring to excessive promises often labeled as "freebies." He questioned the sustainability of such practices, pointing out states where citizens are willing to pay any cost for electricity without considering the financial implications.
Furthermore, Puri directed criticism towards past Congress-led governments, specifically in 2004 and 2014, for introducing oil bonds amounting to Rs 1 lakh 41,000 crore. He emphasized that the present government is still burdened with the repayment of these bonds, which has accumulated to Rs 3 lakh 50,000 crore.
Regarding gas cylinder subsidies, Puri disclosed that the annual subsidy, consistently above Rs 9,000-10,000 crore, continues to play a crucial role in providing financial relief. While acknowledging slight variations, Puri stressed the ongoing commitment to supporting citizens through such subsidies.
On August 1, Oil Marketing Companies (OMCs) slashed the prices of 19 KG commercial LPG gas cylinders by Rs 99.75. As per the latets rates, the retail sale price of commercial LPG cylinder is Rs 1,680 in Delhi, sources told news agency ANI. Meanwhile, there's no change in domestic LPG prices.
On July 4, the commercial LPG gas cylinders prices were hiked by Rs 7 in Delhi. However, it was unchanged in Kolkata, Mumbai and Chennai, as compared to the prices revised on July 1.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha elections: 4th phase sees over 68% voter participation, West Bengal leads with 76% turnout
May 14, 2024 1:47 AM
Lok Sabha elections phase 4 witnesses around 63% voter turnout, experts weigh in on key contests
May 14, 2024 12:06 AM
Lok Sabha Election 2024: Shiv Sena UBT’s Arvind Sawant highlights Uddhav Thackeray's vision for Mumbai’s progress
May 13, 2024 9:21 PM
Exclusive interview: 'Southern states will be a big surprise,' says PM Modi
May 13, 2024 9:05 PM