The NDA Government told the Supreme Court on Friday that its new gas pricing policy will put an end to the controversy over gas pricing generated during the previous regime which doubled gas price generated largely from KG-Gas basin owned by Reliance Group.
Solicitor General Ranjit Kumar informed the Bench headed by Justice TS Thakur that the new dispensation at the Centre had decided to do away with the C Rangarajan Committee recommendations which since have been superseded by a fresh formula that determines gas price at over $5.6 per mmBTU subject to review in every six months. Earlier, UPA regime had proposed a hike from $4.2 to $8.4 per mmBTU. The Court directed Solicitor General to file an affidavit within three weeks while posting the matter on January 16.
The Court further directed Centre to respond to an application moved by one of the petitioners Common Cause for providing details of a fresh CAG report, although it is in draft stage.