INDIA: The govt has no programs to deregulate diesel fuel, food preparation gas (LPG) and oil costs by receiving subsidy on them, Reverend of Condition for Oil RPN Singh said on Wednesday.
"At existing, there is no such offer," the minister said in an itemized response to the Rajya Sabha, in which he also provided information on the under-recovery or income failures suffered by state-run oil organizations.
"The govt is offering subsidy of Re 0.82 per liter on PDS oil and Rs 22.58 per 14.2 kg LPG cyndrical tube on household LPG."
The minister added: "The community industry oil promotion organizations (OMCs) also have under-recovery available of diesel fuel, PDS oil and household LPG as the costs of these items are being modulated by the govt."
To make up FY 2011-12 mixed income failures of Rs 138,541 crore of the three Oil promotion organizations, the govt provided Rs 83,500 crore support to them, while upstream companies like Oil and Organic Gas Corp. (ONGC) provided Rs 55,000 crore.
According to the minister, Rs 41 crore was carried by the OMCs. Native indian Oil, Bharat Oil and Hindustan Oil currently reduce about Rs 450 crore per day available of diesel fuel, household food preparation gas (LPG) and oil.
Losses to OMCs due to household LPG, for example, quantity to Rs 231 per 14.2 kg cyndrical tube.
Petrol costs were deregulated in May 2010 but following cost modifications by OMCs have been done in covered way so as not to stoke blowing up. The failures due to fuel perform out near to Rs 3.80 per liter.
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