KIRIT PARIKH COMMITTEE REPORT PDF

So, we will certainly take a decision, much before resource allocations for oil marketing companies for and beyond. The Ministry is in the final stage of examining it. On the fuel price hike, Sundareshan said volatility of international crude prices meant that some "hard decisions" needed to be sometimes taken in pricing of fuel. He pointed out that the combined under recovery of OMCs is Rs 45, crore for the current fiscal. The government could have specific schemes to protect poorer sections, particularly in the case of LPG for some quarters and kerosene.

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So, we will certainly take a decision, much before resource allocations for oil marketing companies for and beyond. The Ministry is in the final stage of examining it. On the fuel price hike, Sundareshan said volatility of international crude prices meant that some "hard decisions" needed to be sometimes taken in pricing of fuel. He pointed out that the combined under recovery of OMCs is Rs 45, crore for the current fiscal.

The government could have specific schemes to protect poorer sections, particularly in the case of LPG for some quarters and kerosene. Thank you for subscribing to our daily newsletter. With current rate of Covid infection, India likely to overtake Italy in 2 days. Study links respiratory illness during Covid to blood groups. Amarnath Yatra: Special religious ceremony to be performed in Jammu on Friday. UP cop leads cavalcade of vehicles, suspended for violating lockdown norms.

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Time is ripe for oil policy change

Since the OMCs say they have been burdened with the legacy of setting up refineries, we should look at it in a slightly different way. Diesel prices should be immediately hiked by Rs 5 per litre, the Kirit Parikh Committee has recommended while favouring reduction of the quota of subsidized LPG to 6 cylinders per household in a year from 9 at present. If diesel price is raised by Re 1 every month and subsidy burden is Rs 10 per litre on diesel, then that can be wiped out within a year, says Kirit Parikh. The government is mulling relaxing norms for setting up petrol pumps as it is keen on getting more private players into fuel retailing so as to increase competition. Export parity price is really the right thing to do in many ways, but we have taken a view on rather pragmatic basis. Parikh committee suggested raising kerosene price by Rs 6 a litre and LPG rates by Rs a cylinder. All rights reserved.

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Centre sets up committee headed by Kirit Parikh to review LPG marketing

Mumbai: The contentious issue of fuel pricing in India has come to the fore yet again with the Kirit Parikh committee close to submitting its report to the government. In an interview, Parikh, chairman of the Committee on Pricing and Taxation of Petroleum Products, says it is time for a change in oil policy. Domestic prices of fuel need to be closer to international prices, Parikh said. Edited excerpts:. From your conversations with people in New Delhi this time, does it appear that the likelihood of implementation of your report is greater? Can you tell us when your final report will be out and when you intend to submit it to the oil and finance ministries and the Prime Minister?

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KIRIT PARIKH COMMITTEE

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Decision on Kirit Parikh committee report soon: Petroleum secy

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