Kerosene subsidy will likely phase out by 2020- Read all details

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Kerosene subsidy will likely phase out by 2020. This fiscal year kerosene subsidy is supposed to decline by 40%. It is supposed to have decreased from Rs. 7595 crore in 2016-17 to Rs. 4500 crore this fiscal year.

The Centre’s flagship energy schemes Pradhan Mantri Ujjwala Yojana (PMUY) and Saubhagya set to achieve their targets in the next two years, the kerosene subsidy will likely phase out by 2020.

An official said,” We expect at least 95 per cent penetration (into households) of liquefied petroleum gas through the PMUY and also 100 per cent electrification (pushed by the Saubhagya scheme) to be a reality by 2020. With the consumption of kerosene declining on a daily basis, the aim is to do away with the subsidy by then”.

This fiscal year kerosene subsidy is supposed to decline by 40%. It is supposed to have decreased from Rs. 7595 crore in 2016-17 to Rs. 4500 crore this fiscal year.

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Analysts said that while there could be an increase in the LPG subsidy. While, there would be no net increase.

For the first six months of FY18, the cumulative subsidy claims on LPG and kerosene to the petroleum ministry stood at Rs 9,079 crore.

This will rise with the recent increase in global oil prices.

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