Prices of natural gas such as CNG and PNG may decrease in the near future. The Cabinet under the leadership of Prime Minister Modi has approved the new formula for determining the prices of natural gas. Under the new formula approved by the Cabinet, the price of domestic natural gas will now be determined based on the price of the Indian crude basket. While till now the price of domestic natural gas was determined based on the prices of four major gas trading hubs of the world.
CNG and PNG prices are going to come down soon. Many important decisions have been taken in the Union Cabinet meeting chaired by PM Modi on Thursday. The Cabinet has approved a new formula for pricing natural gas for households.
Under the new formula, domestic natural gas prices will now be linked to imported crude instead of international hub gas. Domestic gas prices will now be 10% of the monthly average of global prices of the Indian crude basket. This will be reported every month. It will benefit PNG, CNG, fertilizer plants etc. This will directly benefit the common local consumer to farmers and motorists.
CNG and PNG prices are going to come down soon. Many important decisions have been taken in the Union Cabinet meeting chaired by PM Modi on Thursday. The Cabinet has approved a new formula for pricing natural gas for households.
Under the new formula, domestic natural gas prices will now be linked to imported crude instead of international hub gas. Domestic gas prices will now be 10% of the monthly average of global prices of the Indian crude basket. This will be reported every month. It will benefit PNG, CNG, fertilizer plants etc. This will directly benefit the common local consumer to farmers and motorists.
Indian space policy was approved
Along with this, the Union Cabinet has also approved the Indian Space Policy, 2023. Union Minister Jitendra Singh said this during a press briefing. He informed that the roles and responsibilities of organizations like ISRO, NewSpace India Limited and private sector organizations have been defined under this policy. The government had earlier opened up the space sector to the private sector, to encourage growth in the sector. The policy aims to enhance the role of the Department of Space, promote ISRO mission activities and increase participation of industries including research, education, startups. Union Minister Jitendra Singh said, “In short the policy will provide clarity on the role of constituents.”
