Tag: DBTL

The Union Cabinet’s decision to reduce the price of domestic LPG cylinders by Rs 200 ahead of election season has been termed as a “Raksha Bandhan gift” by Prime Minister Narendra Modi. However, the “gift” is likely to prove extra costly for the public sector oil marketing companies (OMCs), which already suffer huge losses on the sale of domestic LPG.  According to the Ministry of Petroleum and Natural Gas, India imports more than 60 per cent of its domestic LPG requirement and the government continues to modulate the effective consumer price of domestic LPG.  Under the...