Ajay Tyagi Last Updated at August 14, 2022 23:29 IST
The government of India decided to dismantle the administered pricing mechanism (APM) for petroleum products in 2002. According to the government notification issued then, from April 1, 2002, the pricing of petrol and diesel was freed, and the subsidy on domestic liquefied petroleum gas (LPG) and kerosene (through the public distribution system, or PDS) was to be phased out over three to five years.
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