Home / Economy / News / Cooking fuel subsidy set to see 66% jump on rising crude oil prices

Cooking fuel subsidy set to see 66% jump on rising crude oil prices

The subsidy on these products may touch Rs 414.78 billion, against the targeted Rs 249.32 billion

Premium

<a href="http://www.shutterstock.com/gallery-570973p1.html?cr=00&pl=edit-00">Svetlana Eremina</a> / <a href="http://www.shutterstock.com/editorial?cr=00&pl=edit-00">Shutterstock.com</a>

Shine Jacob New Delhi

Last Updated : Sep 17 2018 | 5:30 AM IST

Rising crude oil prices have upset the government’s estimate for cooking fuel subsidy for this financial year.

Government support for liquefied petroleum gas (LPG) and kerosene, constituting the petroleum subsidy, is set to increase by 66 per cent over the budgetary estimate for 2018-19.

Based on the current prices of LPG and kerosene, the subsidy on these products may touch Rs 414.78 billion, against the targeted Rs 249.32 billion. According to the latest estimates by the government, the LPG subsidy is set to increase 73 per cent to Rs 352.57 billion, against the budgeted Rs 203.77 billion for 2018-19. The subsidy for

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in