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Rangarajan formula News

14 Nov 2014

Fresh guidelines to supersede UPA's policy: Centre to SC on gas pricing

The Rangarajan formula on gas pricing was approved by the previous UPA government. Rangarajan was Chairman, Economic Advisory Council to the then Prime Minister.

18 Oct 2014

Govt raises natural gas price to $5.61/unit

The government on Saturday approved raising natural gas price to USD 5.61 per mmBtu from November 1 but Reliance Industries will continue to get current USD 4.2 rate till it makes up for shortfall in output from KG-D6 block.

17 Sep 2014

Gas pricing: Panel submits report, price may go up by 50%

Though contents of the report have been kept under wraps, the official indicated that the price increase may be around 50 percent. Most of the domestically produced gas is currently sold at a price of USD 4.2 per mmBtu.

25 Aug 2014

Gas price: Formula review panel to meet Monday

With September 30 as the deadline to announce the new gas price, a four-member committee of secretaries (CoS) will meet with stakeholders on Monday to review that gas-pricing formula.

23 Aug 2014

Gas price formula review panel to meet Monday

A four-member committee of secretaries (CoS) set up by the government to review the gas-pricing formula will hold its first meeting with stakeholders on Monday, a petroleum ministry source said.

22 Aug 2014

Secretaries panel to review gas price formula

Nearly two months after it put off a steep gas price revision, the government has constituted a four-member committee of secretaries to hold consultations with stakeholders before deciding on the quantum of hike.

24 Jul 2014

Govt to appoint panel to suggest alternative gas pricing model

The panel, which will comprise of Pratap Bhanu Mehta and Bibek Debroy, Chief Executive and faculty respectively, of think-tank Centre for Policy Research, will be asked to submit its report by August 31.

27 Jun 2014

'Need to fix anomalies in Ranga formula before revising rates'

Days after the government put off natural gas prices hike by three months, Power & Coal Minister Piyush Goyal said there were anomalies in the proposed formula which needed to be fixed before revising rates.

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