The Cabinet Committee on Economic Affairs (CCEA) have raised subsidised LPG (liquefied petroleum gas) cylinder quota from 9 to 12 per household per year.

This is likely to increase fuel subsidy burden by Rs 50 billion. As per the media reports, 89% of the 150 million LPG consumers use up to 9 cylinders in a year.

''Overall subsidy burden on oil marketing companies/government/ upstream companies is likely to increase by only 2-3%. The increase in under-recoveries for upstream companies (ONGC, GAIL) is unlikely to be significant due to this. Hence, we maintain our estimates,'' said Angel Broking.

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