If a dynamic model of pricing comes into effect, then it is not just the customer who will benefit, but public oil companies, which control over 95 percent of the market, will emerge winners, too.
The study says that Universal Basic Income can be implemented if the government removes its non-subsidy elements.
As many as 3.3 crore fake, ghost and duplicate LPG connections have been blocked, leading to saving of Rs 21,000 crore in subsidies, said Oil Minister Dharmendra Pradhan
"While the Ministry of New and Renewable Energy (MNRE) has been coming out with new subsidies to spur rooftop installations, the Budget basically thwarts the momentum in rooftop by reducing accelerated depreciation and tax benefits," Mercom said in a note.
The government could be considering implementing the universal basic income (UBI) system for the citizens, sources have told CNBC-TV18. The social security scheme ensures that all citizens of the country get a fixed regular sum of money.
Caprolactam fertilizer prices have shot up to USD 1890 per tonne, but FACT is not producing it for last 5 years, said the company‘s CMD AB Khare.
The government now plans to switch to a capital and revenue-spending classifications. This will help create a clear and effective link between the government‘s earnings, spending and outcomes.
The ministry will soon issue guidelines on the same. The subsidies to smaller food processing units will also encourage them, Minister of State for Food Processing Industries Sadhvi Niranjan Jyoti said, while speaking at a programme on food processing organised by industry body ASSOCHAM here.
India is investigating the possible dumping of cheap steel products into the country by six nations, including China. Previously, it imposed a floor price in an effort to curb purchases of cheap foreign steel.
Under the 'Pradhan Mantri Ujjwala Yojana', the Centre has recently launched an ambitious Rs 8,000 crore scheme for providing five crore free LPG connections to BPL families using the money saved from 1.13 crore cooking gas users voluntarily giving up their subsidies.
Satish Pai, Vice President of Aluminium Association of India says the 2 percent increase in import duty on aluminium, announced in the Union Budget, was negated by near doubling of green cess on coal, as 40 percent of aluminium's production cost is power.
Since Modi made the appeal in March last year, 1,00,06,303 LPG consumers have stopped using subsidised cooking gas, helping the exchequer save a few thousand crores of rupees in doles, oil ministry officials said.
VST has grown its market share in the tillers business by 5 percent to 55 percent. However, presence in relatively smaller-range tractors has kept their market share low in that business, says VP Mahendra, the company's vice chairman and managing director.
In an interview with CNBC-TV18, Chief Economic Advisor (CEA), Arvind Subramanian says that Aadhar is one of the key aspects of this Budget, which will help smoothen transmission of subsidies.
"Indian state's generosity is not restricted to its poorest citizens. In fact, in many cases, the beneficiaries are disproportionately the well-off," the survey said.
The central and state governments subsidise a wide range of products â€” including rice, wheat, pulses, sugar, kerosene, LPG, naphtha, water, electricity, fertiliser, iron ore, railways, among others â€” in order to make these affordable.
Pruning subsidies and reducing leakages have been among the key goals of the NDA government.
Today, gas prices at the pump rose by up to 60 percent in Bahrain, climbing to USD 1.25 per gallon (125 fils per liter) for regular gasoline and USD 1.60 per gallon (165 fils per liter) for premium fuel.
RBI has asked the apex court to allow Aadhar card to be used as identification for availing financial services and subsidies from banks and financial institutions.
There is a cushion of around Rs 20,000 crore in FY16 Budget, which is expected to help the government tide over the additional expense on account of the Rs 12,000 recap package announced for PSU banks and the additional expense that will come in now OROP
GVA is defined as output minus intermediate consumption. It is a balancing item of the national accounts' production account.
On GVA, taxes are added and subsidies are subtracted to get GDP.
On completion of government's one year, CNBC-TV18 brings you Confederation of Indian Industry's agenda for the government for coming year.
After LPG, government is looking at a formula to sell kerosene through subsidy sharing.
"I think in a way the recent market volatility good because it puts more of an onus on Indian policy makers, not to just count on foreign money showing up without questions asked, but foreign money showing up with expectations," says Arvind Sanger of Geosphere Capital Management.