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  Business   Economy  02 Jun 2017  Under-recoveries on kerosene down at Rs 8.86 per litre

Under-recoveries on kerosene down at Rs 8.86 per litre

PTI
Published : Jun 2, 2017, 11:57 am IST
Updated : Jun 2, 2017, 11:57 am IST

Under-recoveries/DBTL Subsidy for 2016-17 was Rs 19,728 crore, while the figure was Rs 27,571 crore for 2015-16.

 Oil Minister Dharmendra Pradhan.
  Oil Minister Dharmendra Pradhan.

New Delhi: The oil ministry today said that the under-recoveries on subsidised kerosene sold through public distribution system (PDS) has come down to Rs 8.86 per litre from June 1, 2017.

"In the case of PDS Kerosene, the under-recoveries with effect from June 1, 2017 will be Rs 8.86 per litre. The under-recovery was Rs 10.68 per litre in the first fortnight of May 2017 and Rs 10.43 in the last fortnight of the month," the ministry said.

The government is looking at eliminating subsidy on kerosene through small 25 paisa increase every month. The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas has reviewed international prices of crude oil and petroleum products for May 2017.

The ministry said that the cash transfer to customer under DBTL (direct benefit transfer for LPG) will be Rs 105.85, out of which Rs 77.26 will be Cash Compensation on Domestic LPG by the government to consumers and Rs 28.59 will be the Cash compensation on Domestic LPG by OMCs (oil marketing companies) towards 'Uncompensated Costs' to consumers.

The under-recoveries/DBTL Subsidy for 2016-17 was Rs 19,728 crore, while the figure was Rs 27,571 crore for 2015-16 and Rs 76,285 crore for 2014-15.

Tags: kerosene, subsidy, price, oil ministry, public distribution system, dbtl, lpg
Location: India, Delhi, New Delhi