Non-subsidised LPG cylinder rates slashed
NEW DELHI: The rates of non-subsidised LPG have been cut by Rs. 37.5 per cylinder.
Earlier, the government cut the subsidy outgo for petroleum products by more than 32 per cent from the revised estimate of Rs 96,879.87 crore for 2012-13. The revised estimate is almost 122 per cent higher than the budgeted estimate of Rs 43,580 crore.
"The fuel subsidy bill will be low as we have capped the number of subsidised LPG cylinders to nine a year and the correction in diesel prices with the decision to periodically increase it," finance minister P. Chidambaram had said.
He reduced the outlay for subsidies on fuel, food and fertilisers by 10.3 per cent to over Rs 2.31 lakh crore in 2013-14 compared with the revised estimates for this fiscal to bring down the fiscal deficit.
"The fiscal deficit for 2012-13 has been contained at 5.2 per cent. I propose to bring it down to 4.8 per cent by 2013-14," Chidambaram said while unveiling the budget proposals in the Lok Sabha. (With inputs from the Agencies)
