New Delhi, Aug. 9 -- To bolster oil marketing companies (OMCs) and to protect citizen from high prices in the face of geopolitical upheavals, the Modi Government on Friday approved a '30,000 crore compensation for LPG under recoveries in the fiscal year 2025 and '12,000 crore as subsidy under the Pradhan Mantri Ujjwala Yojana (PMUY) for 2025-26, with affordable liquefied petroleum gas (LPG) cylinders, benefitting 10.33 crore households
The Union Cabinet on Friday approved '30,000 crore LPG subsidy to state-run oil companies - Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) - to compensate for losses incurred from selling LPG at below cost over the past 15 months. The compensation to oil marketing compa...