Subsidy needs to be given to rural poor on LPG, power: Manmohan Singh

October 10, 2012
manmohan_subsidy

New Delhi, October 10: Amid the controversy over cap on subsidised LPG cylinders, Prime Minister Manmohan Singh on Tuesday said the government recognises that some subsidy has to be given for rural poor for cooking gas and electricity as part of its endeavour to give access to energy to all.

He talked about target subsidy "as best as possible" while stating that the government was planning to transfer subsidy amount directly to bank accounts of bonafide beneficiaries. "We aim to provide every Indian household with clean cooking fuel. This is a huge task but it is not unattainable. It is something we must do on priority," Singh said inaugurating the International Seminar on Energy Access.

He noted that most urban households cook with LPG and government has tried to introduce it in rural areas also. "We recognize that the rural poor will need some subsidy to afford electricity and LPG. The issue is to target the subsidy as best as possible," Singh said. He said the government had launched a pilot scheme in Mysore district of Karnataka where 27,000 deliveries of subsidized cylinders were made by delivery boys after successful biometric authentication of any family member present at home using the unique identification number.

"In the next phase it is planned to transfer the subsidy amount directly to the bank accounts of bona fide beneficiaries," Singh said. His comments came against the backdrop of raging controversy over the government's decision to cap subsidised LPG cylinders at six per year.

"Around 12 per cent of around 190 million rural households use LPG to meet their cooking energy needs. Giving all the 240 million households in the country an entitlement of six LPG cylinders per year will require only around 25 million tonnes of LPG. This should be manageable for our country," Singh said.


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News Network
January 7,2020

Jan 7: India’s monetary authority allowed banks to offer foreign-currency transactions outside of local market hours, a move aimed at boosting trading volumes at home.

Interbank deals, as well as those with customers in and outside India, can be undertaken by banks or their overseas branches and units at all times, the Reserve Bank of India said in a statement late Monday. It stopped short of saying whether the timing of the onshore over-the-counter market has been extended from the current 9 a.m. to 5 p.m.

The move is in line with recent recommendations to reverse the trend of the partially convertible rupee being traded more abroad than in India. London has overtaken Mumbai to become the top center for trading the rupee, adding to a sense of urgency among local authorities to deepen the onshore market.

Average daily volumes for rupee in the U.K. soared to $46.8 billion in April, a more than fivefold jump from $8.8 billion in 2016, according to a survey from the Bank for International Settlements published in September. That exceeded the $34.5 billion recorded in India.

Analysts say more trading abroad could amplify volatility in the domestic market and reduce the effectiveness of policy actions.

India’s decision comes as the London Stock Exchange Group Plc has started asking market participants if they want the bourse to function fewer hours, signaling it’s open to an argument driven by changing trading patterns and calls for a better work-life balance.

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News Network
July 17,2020

Thiruvananthapuram, Jul 17: A gunman posted at the United Arab Emirates (UAE) Consulate in Thiruvananthapuram allegedly attempted suicide on Friday, the police said.

"A gunman who was working at the United Arab Emirates (UAE) Consulate in Thiruvananthapuram allegedly attempted to commit suicide today. He is currently admitted to a hospital. 

The police were searching for him after his relatives had filed a missing complaint on Thursday night. A case has been registered and a probe is underway," said Police.

The person is identified as Jayagosh. He is attached to the police Armed Reserve (AR) camp and was reported missing since last night. Later, his relatives had filed a missing complaint with the police.

Jayagosh was later found lying in a pool of blood near his house in Akkulam and was taken to the hospital.

A police investigation is underway and more details are awaited.

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News Network
March 21,2020

New Delhi, Mar 21: Novel coronavirus cases in India rose to 258 on Saturday after 35 fresh cases were reported in various parts of the country, according to the Health Ministry.

Among the 258 are 39 foreign nationals, including 17 from Italy, three from the Philippines, two from the UK, one each belonging to Canada, Indonesia and Singapore.

The total figure also includes four deaths reported from Delhi, Karnataka, Punjab and Maharashtra.

"The total number of active COVID-19 cases across India stands at 231 so far," the ministry said, adding that 23 others have been cured/discharged/migrated while four have died.

Delhi has, so far, reported 26 positive cases, which include one foreigner, while Uttar Pradesh has recorded 24 cases, including one foreigner.

Maharashtra has 52 cases, including three foreigners, while Kerala has recorded 40 cases, which include seven foreign nationals.

Karnataka has 15 coronavirus patients. The number of cases in Ladakh rose to 13 and Jammu & Kashmir four. Telangana has reported 19 cases, which include 11 foreigners.

Rajasthan has also reported 17 cases, including two foreigners. Gujarat has reported seven cases so far.

Tamil Nadu, Andhra Pradesh and Uttarakhand have reported three cases each.

West Bengal, Odisha and Punjab each reported two cases while Puducherry, Chhattisgarh and Chandigarh reported one case each.

In Haryana, there are 17 cases, which include 14 foreigners.

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