Govt increases LPG Subsidy Cap to 9

TNI Bureau: In a huge relief to the common people, the government has decided to raise the cap on subsidized LPG cylinder from 6 to 9 per year. However, it would take effect from April 2013 once the current financial year is over.

Existing cap in the current financial year (Up to March 31) has gone up to 5 from 3. So, the consumers who have already taken three LPG cylinders at the subsidized rate after September 2012, can still avail three more at the same price.

Union Petroleum Minister Veerappa Moily announced this decision. Interestingly, the government has decided not to increase the price of the subsidized LPG cylinders as of now contrary to the speculations in the media circle.

However, the government has now authorized the oil companies to hike the diesel prices periodically. That means, the diesel prices may see further increase soon. And, the oil companies will be in a position to take a decision on diesel prices. While there is some relief on the LPG front, bigger shock is awaiting on diesel in the days to come.

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