The Nifty 50 index was up 35.15 points, or 0.2% at 17,394.90.
The government on 31 March 2023 kept domestic gas prices unchanged at $8.57/mmBtu on a provisional basis from April 2023 to September 2023. The ceiling, however, was reduced marginally to $12.12/mmBtu from $12.46/mmBtu on Gross Calorific Value (GCV) basis.
The government sets the price of gas from domestic fields every six months. However this time it decided to keep any changes on hold for the period beginning 1 April 2023 as the government is still reportedly considering the recommendations of Kirit Parikh committee on fair pricing of natural gas. It is also expected that once accepted, the recommendations will become applicable retrospectively from 1st April 2023, the media reports added.
