by admin | May 25, 2021 | Business, Commodities, Commodities News, Corporate, Corporate Buzz, Economy, Large Enterprise, Markets, News
New Delhi : The price of non-subsidised LPG cooking gas will be hiked by Rs 55.50 per cylinder in New Delhi, and that of the subsidised one by a marginal Rs 2.71, effective July 1.
According to Indian Oil Corporation, the increase is mainly on account of GST on revised price of domestic non-subsidised LPG.
“There is a marginal increase of Rs 2.71 per cylinder (from Rs 493.55 in June 2018 to Rs 496.26 in July 2018) in the effective price of subsidised LPG cylinder in Delhi for domestic customers for the month of July 2018,” IndianOil said in a statement on Saturday.
“The increase is mainly on account of GST on revised price of domestic non-subsidised LPG.”
As per the statement, the price of non-subsidised LPG at Delhi which consumers buy
buys after exhausting their yearly quota of 12 will increase by Rs 55.50 per cylinder in July 2018 due to increase in international price of LPG by $57 per MT.
“The balance Rs 52.79 (Rs 55.50 minus Rs 2.71) is being compensated to the customer by increase in subsidy transfer to their bank account,” the statement said.
Accordingly, the subsidy transfer in customer’s bank account has been increased to Rs 257.74 per cylinder in July 2018 as against Rs 204.95 per cylinder in June 2018.
Oil companies revise the rates of LPG on the 1st of every month based on average crude price and foreign exchange rate. Prices vary at locations according to local taxes as petroleum products are not included under the pan-India GST.
—IANS
by admin | May 25, 2021 | Banking, Corporate, Corporate finance, Corporate Governance, Economy, Finance, Marketing Basics, Markets, News, Online Marketing, Politics, Technology
New Delhi : Taking cognizance of complaints by cooking gas customers of non-credit of their LPG subsidy, the government on Friday said that these were mainly from customers of Airtel payments bank and that the subsidy amount had been credited to their respective accounts.
“It is found that these complaints mainly pertain to those LPG consumers who are Airtel customers and have opened account in Airtel payment bank,” a Petroleum Ministry release said here.
“It is clarified that the LPG subsidy of these Airtel customers has already been credited to their newly opened Airtel payment bank account seeded with Aadhaar,” it said.
“It may be noted that as per subsidy transfer protocol, the LPG subsidy is transferred to the (latest) bank account of the beneficiary seeded with their Aadhaar,” the statement added.
Telecom major Airtel has recently ventured into payment bank services.
The ministry also said that, along with the three state-run oil marketing companies, it has taken up the matter with the Department of Financial Services, the National Payments Corporation, as well as Airtel.
—IANS
by admin | May 25, 2021 | Economy, News
Dahod (Gujarat):(IANS) Launching the second phase of the Pradhanmantri Ujjwala Yojana here on Sunday, from this tribal-dominated district of Gujarat, Petroleum Minister Dharmendra Pradhan said over 5 crore women below the poverty line would be provided LPG connections in the next three years.
Amonmg those present at the second phase launch for the three states of Gujarat, Madhya Pradesh and Rajasthan were the respective chief ministers Anandiben Patel, Shivraj Singh Chouhan and Vasundhara Raje and Bharatiya Janta Party president Amit Shah.
Prime Minister Narendra Modi had launched the scheme from Ballia in Uttar Pradesh earlier this month.
Pradhan also said that 25 lakh gas connections in rural areas and 15 lakh connections in urban areas will be provided in Gujarat alone.
