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The Ministry for Petroleum and Natural Gas said in a statement that there are various proposals in the Budget that would lead to stability and continuity in the oil and gas sector.
“Subsidies will continue so that there is no adverse impact on the general public. Adequate funds have been provided for LPG and kerosene subsidy,” an official statement said.
The statement also pointed out that an amount of Rs 2,400 crore has been provided under the Plan head for filling crude oil in the caverns. This would help in the country building up strategic reserves in underground storage facilities being set up by Indian Strategic Petroleum Reserves Ltd (ISPRL) at Visakhapatnam, Padur and Mangalore.
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