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Give Up LPG Subsidy is a campaign that was launched in March 2015 by the Indian government led by Prime Minister Narendra Modi.It is aimed at motivating LPG users who are able to afford to pay the market price for LPG to voluntarily surrender their LPG subsidy. [1]
The first Indane LPG connection was released on 22 October 1965 at Kolkata. Indane serves more than 130 million families through a network of 12,500 distributors. 27% of its customers reside in semi-urban or rural markets and every second LPG cooking gas connection in India is that of Indane. The sales network is backed by 47 Indane area offices.
In the first year of its launch, the connections distributed were 22 million against the target of 15 million. As of 23 October 2017, 30 million connections were distributed, 44% of which were given to families belonging to scheduled castes and scheduled tribes. [6] The number crossed 58 million by December 2018. [7]
The natural gas purchase price from the natural gas producers, like ONGC, Oil India Ltd. and private companies, is fixed by the government based on prices prevailing in the US, Russia, the UK and Canada. [63] LNG price is linked to the prevailing crude oil price in global markets. [64]
The institute will start functioning from 2018-19 academic year and it is purely for research in energy policy and science and technology as it is related to petroleum and energy. The institute coming up will cost Rs.1,000 crore. [11]
Bharat Petroleum Corporation Limited is an Indian public sector oil and gas company, headquartered in Mumbai. It is India's second-largest government-owned downstream oil producer, whose operations are overseen by the Ministry of Petroleum and Natural Gas. It operates three refineries in Bina, Kochi and Mumbai. [4]