The Union Cabinet is expected to approve a major subsidy package of nearly Rs 30,000 crore for oil marketing companies to support LPG pricing, said government sources to Business Today. A meeting is scheduled for 1 PM today where the proposal will be taken up.

This move is aimed at helping oil marketing companies recover losses they have been facing on domestic LPG sales due to high international prices. The subsidy is likely to help keep LPG prices steady for consumers, especially with global energy costs remaining volatile.

Sources say the financial support will ease the burden on these companies and ensure that LPG cylinders remain affordable for millions of Indian households.

While no official statement has been released yet, the Cabinet’s nod to the subsidy is seen as almost certain. Once approved, this package could be one of the major direct support measures for oil firms in recent years.

More clarity is expected after the Cabinet meeting later today.

Source: India Today