Rangarajan proposal to bring relief to ONGC
The acceptance of the panel recommendations may benefit the oil explorers but it will certainly put consumers' pockets under strain. A $4 per unit increase in the price of gas will add another R35,000-40,000 crore to the Centre's fertiliser subsidy burden. If the gas price is increased to $8, electricity tariff for the consumer may go up by R1.6 per unit.
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