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New tax on cooking gas in India
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Blog – Shafaqna English | International Shia News & Fatwas
Shafaqna English- India is reportedly planning to impose a levy on consumers of natural gas and LPG (cooking gas) to help fund a massive $42 billion strategic fuel reserve initiative, according to insiders with direct knowledge.
The disruptions caused by the Iran war have highlighted the country’s exposure to supply chain shocks, prompting authorities to seek new revenue streams for building emergency stockpiles.
The sources explained that the initiative would, for the first time, broaden India’s strategic reserve framework to encompass liquefied natural gas and cooking gas alongside crude oil.
Under the plan, the reserves would be sufficient to meet approximately two months of combined crude and LNG demand, and roughly six weeks of LPG consumption, thereby enhancing the country’s energy security against future supply disruptions.
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