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The government has paid ₹7.03 lakh crore in fuel subsidies since 2011-12, Minister of State for Petroleum and Natural Gas, Rameswar Teli said in a reply to the Lok Sabha on Monday.
The Budget for current financial year has kept aside ₹12,995 crore for LPG and natural gas subsidy, Teli said.
Meanwhile, the government continues to modulate the effective price to consumer for subsidised domestic LPG gas, the Petroleum Minister Hardeep Singh Puri said in a written reply to the Lower House.
The prices of petroleum products in the country are linked to the price of respective products in the international market. The prices of non-subsidised domestic LPG are however determined by the OMCs in line with changes in the international markets.
The subsidy on the product increases or decreases with the increase/decrease in the product price in international market and the decision of the government on subsidy, he said.
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