Friday, 28 June 2013

Who all will the natural gas price hike hit? - Indian Express

: New Delhi, Fri Jun 28 2013, 15:19 hrs Small Large Print

Gas price hikeThe hike would directly impact over 21 lakh households using piped natural gas. (Reuters)

In a move that hopes to boost exploration and investor sentiment, the UPA government Thursday approved an increase in the price of natural gas effective from April 2014, in line with a complex pricing formula suggested by the Rangarajan Committee.

Here are the people who will suffer the consequences of the Govt's actions:

* The hike would directly impact over 21 lakh households using piped natural gas.

* More than 17 lakh vehicles running on CNG.

* It would also jeopardize the economic competitiveness of more than 1,000 small and medium enterprise sectors.

* The blow would be higher for 119 million farmers who would have to pay 65 per cent more for urea — from Rs 5,360 per tonne to Rs 8,892 per tonne.

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