Page 25 - NIS English 01-15 May,2023

CABINET DECISIONS

CNG-PNG WILL GET CHEAPER, NEW SPACE

POLICY 2023 APPROVED

Taking an important decision, the Union Cabinet has approved the revised domestic gas pricing
guidelines. This will give many benefits to the consumers. This important step taken in the direction
of positive development will ensure ease of living. Now the price of domestic gas has been linked
to imported crude which was earlier linked to the average price of four international gas hubs. The
domestic gas price will now be 10% of the international price of the Indian crude basket every month.
Along with this, the cabinet also approved the new space policy 2023.

DECISION: The Union Cabinet approved the revised current 6.5 percent to 15 percent by 2030.
domestic gas pricing guidelines. DECISION: Indian Space Policy 2023 approved
IMPACT: Prices of PNG for households, CNG for to promote research, education, startups, and
transport, and industry will come down. A stable participation of private companies in the space sector.
pricing regime will be ensured for domestic gas IMPACT: This decision will encourage the
consumers. The effect of an increase or decrease participation of private companies. The role and
in the prices of imported crude will be visible responsibilities of government bodies will be
on the bills of the consumers every month. The determined. Its objective is to enhance the role of the
minimum and maximum rates of gas have been Department of Space and to promote the activities
fixed so that there is no loss to the consumer or of ISRO's missions. The new policy will encourage
the gas industry, which will remain in effect for the the participation of research, academia, startups,
next two years. The industry will get incentives and industry. The Indian Space Policy 2023 will
from the government for increasing domestic gas prove to be an important step in enhancing India's
production. The target is to increase the share of capabilities in the space sector and achieving self-
natural gas in the primary energy mix from the reliance in space technology.

PM Modi praised the decision

Prime Minister Narendra Modi has appreciated the cabinet's decision to protect the
interests of consumers by reducing the impact of international gas prices on gas prices
in India. Sharing a tweet by Union Minister of Petroleum and Natural Gas Hardeep Singh
Puri, Prime Minister Modi tweeted, “Cabinet decision regarding domestic gas pricing
will bring many benefits to consumers. This is a positive development for the region.”

New India Samachar May 1-15, 2023 23