In a landmark move aimed at fostering economic sustainability and energy affordability, India has issued a notification outlining the gas price ceiling for the upcoming period from April 2024 to September 2024.
India’s notification heralds a remarkable 0.90% reduction in gas prices, marking a significant shift from the previous rate of US$ 9.96 per million British thermal units (mmbtu) to an even more competitive US$ 9.87 per mmbtu. This reduction, meticulously calculated on a Gross Calorific Value (GCV) basis, signals a bold stride towards enhancing energy accessibility and affordability for all.
This strategic measure reflects India’s unwavering commitment to economic equilibrium and underscores a proactive approach towards ensuring accessible and cost-effective energy resources. By striking a balance between economic imperatives and societal needs, India sets a compelling example of progressive governance and responsible resource management.