Govt eyes annual savings of Rs 300 crore from removal of LPG subsidy

The government’s latest decision to cut subsidised cooking gas sales to consumers with an annual taxable income of above Rs 10 lakh is likely to translate into annual Liquefied Petroleum Gas (LPG) subsidy savings of Rs 300 crore, according to the oil ministry.

This is in addition to savings from the elimination of duplicate or fake connections as a result of implementation of the direct benefit transfer for LPG (DBTL) scheme — Rs 14,600 crore in FY15 — and additional savings of around Rs 2,000 crore through the GiveitUp campaign under which 5.7 million consumers have voluntarily surrendered their subsidy so far.

“According to our estimates, there are two million consumers in the Rs 10 lakh-plus slab (of taxable income). Some of these are already covered under GiveitUp. We are estimating savings of roughly Rs 300 crore per annum,” said a senior

SpiceJet announces special fares under 'Happy New Year Sale'

No-frills airline SpiceJet today announced a four-day sale, offering one-way base fares as low as Rs 716 for the journey period between January 15 and April 12 next year for domestic fliers.

The special fares under “Happy New Year Sale” are available for flying on domestic routes, SpiceJet said in a release.

As a part of this sale launched today, for which bookings will remain open till midnight of December 31, one-way base fares start at Rs 716 (excluding taxes) for domestic network, the release said.

The travel period for tickets availed under this offer stands between January 15 and April 12, 2016 and only for flying on direct flights on the domestic network, it said.

Tickets under this offer are refundable (only taxes and fees) and changeable with a change fee and payment of fare difference, the airline added. Read More.